GAM teams up with New Horizon to launch India equity fund
Asset manager GAM has joined forces with Mumbai-based investment adviser New Horizon, launching the GAM Star India Equity Fund.
Run by the New Horizon team led by founder, CEO and CIO Madhav Bhatkuly, the fund seeks to invest in a focused portfolio of publicly listed Indian companies selected on a 3-5 year investment view. The New Horizon team currently managed more than $500m (€436m).
Bhatkuly comments: “India is one of the fastest-growing democracies in the world, is in a long-term, structural growth phase across a range of sectors generated by the last decade of liberalisation and reform, and buoyed by positive sentiment from the new Prime Minister elected in 2014. Business and consumer confidence is high, and for the first time ever Indian companies are uniquely positioned to benefit from their own actions and will also be positively affected by government policy.”
Craig Wallis, group head of Institutional and Fund Distribution at GAM adds: “GAM prides itself on its open-architecture approach to give our clients access to the best investment talent in the world. Madhav Bhatkuly is one of India’s most successful fund managers with a strong investment track record of managing Indian equities. We are pleased to be partnering with New Horizon to bring their very successful strategy to the market in an accessible format.”
The fund is currently authorised for sale in Austria, Finland, France, Germany, Liechtenstein, Luxembourg, Norway, Spain, Sweden, the Netherlands and the United Kingdom and seeks to outperform the MSCI India Index.