Jaipur Asset Management, a new specialist asset management firm, has launched its inaugural offer aimed at sophisticated investors seeking an allocation to Indian equities.
The Jaipur Indian Growth Fund is a ‘fund of funds’ offer formed in partnership with three Indian asset managers, Birla Sun Life Asset Management, SBI Funds Management, and the Unit Trust of India.
Jaipur Asset Management chair Stephen Hopley, who founded Jaipur Asset Management alongside Neelesh Mehta, said India has ‘come of age’ as an investment opportunity, adding that the Modi government’s reforms had assisted in this.
“India is now the world’s fastest growing major economy with China-style GDP growth, currently over 7.5 per cent per annum,” he said.
“Whilst as we’ve seen with China, growth can stagnate, it is important to understand that India is decoupled from the global economy and her growth is driven by domestic consumption not export-led."
According to Jaipur Asset Management, the three partner asset managers have combined funds under management of about A$75 billion, and Mr Hopley said facilitating investor exposure to India through these firms would yield better results for investors due to their “extensive experience in the market”.
Perpetual Investment has recorded net outflows of $1.1 billion for the fourth quarter of 2019, while its funds under management fell by $300...
The RBA has revealed the factors behind the July cash rate decision and has left the door open to further changes in the near term. ...
HESTA has posted its investment returns to members for the 2018-19 financial year, which it said were above the target objective. ...