Yet another Indian fund, this time for Australia
Now that US investors have several options to invest in India in the form of ETFs/ETNs such as IIF, IFN & INP, the action has moved to Australia - a new Indian fund will be launched over the next few weeks. Per its prospectus, the India Equities Fund Limited (IEF) is seeking to raise up to $200 million to invest in companies listed on the two major Indian stock markets - the BSE & the NSE.
Note:
- The portfolio, which will be unhedged, will be managed by British fund manager Kotak Mahindra.
- Both Kotak Mahindra and Olympus Funds Management will receive a performance fee of 20% of positive returns, but to earn this the fund will have to beat both its benchmarks: one an absolute return of 20% a year and the other to beat the BSE 200 index (measured in Australian dollars).
- . . . fund that is mostly blue-chip in nature, with up to 20% in mid-caps.
I also learned that Australian investors have had another option - Fidelity India Fund - since September 2005.
Related Posts:
