IIFL Global launches India fund on Mauritius platform

IIFL Global has launched the Strategic India Fund (SIF) on its Mauritius Open Architecture platform, fully regulated by the Financial Securities Commission.

The Strategic India Fund (SIF) is a collaboration between IIFL Global, Generation Systematic Solutions Ltd and HDFC Asset Management. SIF is a systematic multi-asset fund which aims to outperform the CNX Nifty Equity Index over a long period of time at lower volatility.

The key driver of risk-adjusted returns is a strategic asset allocation process whereby the fund will be allocated 100% to either equities, debt or cash at any point in time, IIFL said.

The weekly signals are generated by a proprietary trend-following model built and designed by Generation. IIFL Mauritius, a part of the IIFL Global Group, is the Investment Manager and HDFC AMC is the investment adviser to the Fund.

Generation has already seeded the Strategic India fund which launched on 1st August 2013.

Roger Mortimer, director at Generation Systematic Solutions Ltd, said:  “The back testing of the fund since 2003 delivered 808% returns in comparison to 177% by the Nifty Index and at significantly lower volatility.

“The fund has been running with live recommendations since early 2013 and we are very excited to be launching this product in collaboration with IIFL and HDFC AMC. Given HDFC AMC’s long-term focus and risk management discipline, the quantitative overlay can be put in place with significant confidence”.

Swati Jain, director at IIFL Wealth (UK) Ltd, said:  “India is currently going through a volatile phase and we see immense opportunity for SIF to deliver significant alpha by toggling between asset classes. The fund has already generated high level of interest reinforcing the appetite for innovative products in the market”.

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