The Jersey based asset management firm Ashburton has launched a new fund which invests in both China and India, the Chindia Equity Fund plans to provide access to proven expertise in these rapidly-expanding economies.
Economic forecasts expect China to grow at a rate of 8% to 10% a year, while a growth rate of 8% per year is projected for India, combined, these two countries will be the second largest economic power in the next 15 years worth approximately US$16trillion, according to Ashburton.
The Chindia Equity fund, managed by Jonathan Schiessl has a minimum investment of £10,000. An initial fee of 5% is charged as well as a 1.75% annual management fee. Schissel has had responsibility for the Asia-Pacific region for the past six years at Asbhurton.
Schiessl said: “This growth will be primarily driven by demographics as the working population of both countries is expected to increase by 250m by 2020. Furthermore, reliance on growth from exports is decreasing in both China and India, and consumer demand is growing exponentially as a result of an expanding generation with much higher aspirations. Combined, these two countries will be the second largest economic power in the next 15 years and the opportunities this offers to investors is tremendous."
The Ashburton Chindia Equity Fund is open for investment from 10 November 2006 and launching on 1 December 2006, which allows clients to invest in these fast growing regions. Ashburton has successfully obtained the all important Foreign Institutional Investor (FII) status in India and established links in China that enable the fund to directly access these markets.
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