Financial Daily from THE HINDU group of publications
Monday, Mar 18, 2002
Financial Daily from THE HINDU group of publications Monday, Mar 18, 2002 |
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Markets
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Mutual Funds Zurich to launch Leadership Fund Nilanjan Dey
KOLKATA, March 17 ZURICH India Mutual Fund has revived its idea of a special equity product whose investment strategy is determined by a single theme: leadership. The proposed Zurich India Leadership Fund will have in its portfolio companies that dominate their respective sectors and those that have the potential to become market leaders. The scheme, which will otherwise have all the traits of a growth fund, has proposed to define the concept of leadership in terms of market share. The No.1 company in any business will naturally enjoy the biggest market share. The leadership fund, according to Mr Rajan Krishnan, head of marketing at Zurich, will try to capitalise on what looks like a renewed interest in equities and equity funds. In an attempt to identify potential stocks, the MF has finalised certain other criteria as well. For instance, in the case of a multi-product venture, a critical portion of its total income should come from segments in which the company enjoys leadership rankings. In effect, it will choose outfits that are in the No. 1-5 league. ``The idea is to position this as a theme play,'' Mr Krishna said, adding that it would be presented before investors as a fund that focuses on companies that have managed to beat others in their own turfs. Such companies are better placed in terms of parameters such as topline & bottomline growths as well as return on equity. When launched, the fund will be the sixth equity product from the Zurich stable. The existing schemes include three diversified funds, a balanced fund and a tax-saving fund. Together, these account for about Rs 290 crore in equity assets, the MF has pointed out.
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