Overseas fund of funds in India

52 live funds in the Overseas Fund of Funds category, ordered by 5-year return, highest first; DSP World Gold Mining Overseas Equity Omni FoF leads. Funds younger than five years follow by name. Returns are for the plan each fund's page leads with, Direct where the fund has one, to each fund's latest NAV, the newest of them on 28 Oct 2026; 3 and 5 year returns are a year, compounded.

Overseas Fund of Funds

Size is the average money the fund managed over its latest quarter. Cost is its yearly expense ratio.Filter them in the screener

NAV of 28 Oct 2026

Tax on overseas fund of funds

Gains on units held over 24 months are taxed at 12.5%, with no yearly exemption; gains on units held 24 months or less at the income tax slab rate.

Rules in force from 1 Apr 2025, checked 27 Oct 2026. Surcharge and cess are not included.

About overseas fund of funds in India

Overseas fund of funds in India are mutual funds that put their money into units of funds listed or registered abroad, instead of buying foreign shares directly. An Indian investor holds rupee units and gets exposure to markets such as the US, China or global gold miners.

How the structure works

A fund of funds holds units of other funds. In this category the underlying fund is a foreign one, often run by a global manager or by the same fund house's overseas arm. The Indian fund is a feeder: it collects rupees, converts them, and buys the foreign fund's units. Its NAV (net asset value, the price of one unit) follows the underlying fund's NAV, moved by the exchange rate between the rupee and the foreign currency.

What drives the return

The return has two parts: the change in the underlying fund's value, and the change in the rupee against that currency. A fall in the rupee adds to the rupee return and a rise subtracts from it. One category covers single-country funds, global baskets and themes such as gold mining, so returns differ widely.

Foreign markets close at different hours and on different holidays from Indian ones. A fund's NAV can therefore be based on the underlying fund's last available price, and on days when the foreign market is shut the NAV may not change.

Limits on overseas investing

SEBI caps overseas investment at US $1 billion per fund house and US $7 billion for the whole industry, with separate limits of US $300 million and US $1 billion for overseas ETFs. When a fund house nears its limit, it may stop or restrict new purchases and lump-sum investments in its overseas funds until room opens up. Existing units can still be redeemed.

Cost and tax

The investor pays the Indian fund's expense ratio, and the underlying fund charges its own fees inside its price, so the cost is layered.

An overseas fund of funds holds no domestic equity, so it does not qualify for equity-fund tax treatment, which needs at least 65% in Indian shares. Gains on units held up to 24 months are taxed at the investor's income tax slab rate. Gains on units held longer are taxed at 12.5% without indexation.

Returns in rupees

Single-country, regional and theme funds share one table, ordered by 5-year return; funds without five years of NAVs follow by name. Each return is in rupees, measured to the fund's latest NAV, which can be older than other categories' NAVs.