Nasdaq tumble on October 30 raises doubts about AI funds
Business
The Nasdaq's recent tumble on October 30 hit tech and AI-focused mutual funds pretty hard.
Popular funds like Motilal Oswal Nasdaq 100 FoF dropped 11.30% in just a month, while Edelweiss US Technology Equity FoF fell 10.75%.
Others from Aditya Birla Sun Life, Kotak, and Navi also saw losses close to 8%.
It's got some folks questioning whether AI investments are as bulletproof as they seemed.
Majority of overseas equity funds up
Even with these short-term dips, most overseas equity funds have actually gained over the past year: 46 out of 51 are in the green.
For example, Edelweiss US Value Equity Offshore Fund managed a modest 2.81% gain.
The big takeaway? Diversifying your investments can help ride out market swings like this one.