London-based Altavista Investment Management has launched an Indian equities fund to benefit from the country’s expected GDP growth of about 10%.
The Altavista Capital India Long Only Fund is a bottom-up, fundamentals-driven fund that invests in “dislocated” businesses experiencing short-term market challenges and with attractive valuations.
Arun Agarwal, managing director, of the firm – which has about $272 million (€238.5 million) in assets under management – said the portfolio will consist of approximately 15 positions.
Altavista considers India to be a growth opportunity with a reform-orientated government and an expected nominal GDP growth of 10-12%.
Agarwal said: “Our experience shows that over the last five years, by employing unconstrained, bottom-up individual stock selection, it is possible to outperform the market significantly. India offers an attractive opportunity for long-term investors willing to live with some volatility.”
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