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ILFS Mutual looks beyond border

Calcutta, Sept. 21: ILFS Mutual Fund may consider investing part of the Rs 600-630 crore under management of its five debt schemes, in overseas fixed-income securities.

Ramgopal Kundurthi, chief investment officer of the fixed income schemes, said ILFS Mutual Fund was considering incorporation of the option to invest in foreign rated instruments in its existing schemes.

“It makes more sense to have that option in our existing schemes rather than have a separate scheme for overseas investment. Given the restrictions on investing abroad, it would just be a ‘me-too’ product. Instead, we are considering whether or not to add the option in our existing schemes. Prima facie, there appears to be case for it,” he said.

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