Baring Asset Management has unveiled Baring India fund, betting on consumption, infrastructure, financials and information technology.
Ajay Argal, who recently joined the team in Hong Kong, will invest 70% of his portfilio in equities and equity-related securities of companies listed in India or which carry out the predominant part of their economic activity there.
Therefore, Argal will have the flexibility to invest in companies listed outside India and within the Indian subcontinent, which still conduct a significant proportion of their business within the country.
Argal will hold a concentrated portfolio, picking between 30 and 50 stocks.
“With a stable and vibrant political system in place, we believe the Indian economy is well positioned to embark on a period of productivity-led growth and that this should translate into a period of strong equity returns for investors,” Argal says.
The fund, which is scheduled for launch on December 7, is likely to make significant investments in consumption-related stocks, financial services, infrastructure and information technology services.
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