Domestic MFs line up chip funds as stocks soar

The global semiconductor shortage is turning into a headache for automotive (auto) and appliance manufacturers. But it is proving to be a boon for equity investors. Semiconductor stocks are among the best performers this year. The PHLX Semiconductor Index has gained more than 35 per cent year-to-date.

Amid positive sentiment towards chip companies, mutual funds (MFs) have lined up overseas funds that provide easy exposure to companies in the semiconductor ecosystem.

Tata MF has filed an offer document with markets regulator Securities and Exchange Board of India (Sebi) to launch Tata Global Semiconductor Fund of Fund.