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Are there Funds of Funds in India?

Hi all,

Today I was going through the Wikipedia article on Mutual Fund and came across this section on Funds of Funds (FoF). 

http://en.wikipedia.org/wiki/Mutual_fund#Funds_of_funds

It seems a pretty good idea theoretically.

What I wanted to know is that, whether such schemes are available in India? And are they good or not?

Do enlighten me on this issue.

Thanks,

Zaib.

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