Ashburton Investments is to launch a sterling share class for its $71m (£50m) India Equities Opportunities fund and three other offshore products.
The high conviction India fund, managed by the company’s chief investment officer Jonathan Schiessl and colleague Simon Finch, has a concentrated portfolio of 25 to 30 stocks, with 42 per cent currently invested in small and mid cap stocks.
The managers employ a buy and hold strategy, with fund turnover standing at 10.6 per cent over the past year.
Matthew Kemp, head of UK wholesale for Ashburton Investments, said: “We have a top performing fund and we are launching the sterling share class in direct response to client interest within the UK wholesale market, given the recent accolades the fund and manager has received. This will also make the fund more widely accessible via a number of platforms.”
Mr Schiessl pointed to positive fundamentals, improving governance, infrastructure investment and growing consumption due to strong demographics as drivers of the fund’s performance.
“India’s investment potential for the long-term remains firmly intact and has recently been strengthened by the positive response to the Union budget at the end of February, as well as Modi’s continued push to invest in 25 key sectors across the country through initiatives such as ‘Start-up India’ and ‘Make in India’,” Mr Schiessl added.
Ashburton is also to launch sterling share classes for three other Luxembourg-domiciled products: the Africa Equity Opportunities fund, the India Fixed Income Opportunities fund and the Global Energy fund.