Schroders unveils India fund amidst economic turmoil

indiaSchroders has launched a fund investing in Indian equities, managed by its Asian equity investment team and advised by Axis Asset Management Company. The Schroder ISF Indian Equity adopts an unconstrained all cap approach. “While India has certain short- and medium-term cyclical challenges, it has a number of long-term competitive advantages that have allowed it to grow on a sustained basis,” says Chandresh Nigam, managing director and chief executive officer at Axis Asset Management Company, which has on-the-ground expertise in India. “More importantly, quality Indian companies have been able to participate in this growth by growing their profits and rewarding shareholders.” The rupee has fallen significantly against the dollar in recent months. India’s economic growth rate has plunged to a decade-low while the current account deficit and the fiscal deficit have both risen. Nigam, however, says India’s economy is resilient and once economic headwinds subside, both global and local investors will revert their focus back to the long-term potential of the country. ©2013 funds europe

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