Eastspring launches Indian equity fund

Eastspring Investments, the Asian investment management arm of Prudential has launched the Eastspring Investments – India Discovery Fund.

The fund, which a sub-fund of Eastspring’s Luxembourg-domiciled Ucits Sicav, will be advised by its Mumbai-headquartered branch Icici.

Its strategy reflects these of the existing Icici Prudential Value Discovery fund, offering investors a contrarian value based approach. The fund invests in undervalued Indian companies with high potential.

The management team of the  Eastspring Investments – India Discovery Fund is headed by Anand Gupta, portfolio manager at Eastspring Investments he joined in January 2010.

Commenting on the launch, Gupta said : “India’s growth is expected to outpace the rest of the world’s major economies over the next few years. This will likely be supported by improved macroeconomic fundamentals, lower interest rates and longer-term reforms – there is thus an immense scope for successful investment there.

“Our team, which benefits from a compelling mix of expertise and a strong Indian footprint, is uniquely placed to help investors take full advantage of the Indian equity opportunity in this promising context.”

Gordon Hogarth, head of Distribution for Europe and Middle East at Eastspring, added: “We are looking forward to taking a strategy to market that mirrors the proven methodology of one of India’s long term best performing funds. I am confident that our capability will be assessed wherever there is interest in the Indian Equity markets.”

Eastspring had $140bn (€127.2bn) of AUM as at 30 June 2016.

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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