Specialist funds distributor, Cohesion Investments, has launched India Equities Portfolio Fund, in partnership with Reliance Capital Asset Management, one of India’s largest asset management groups. The fund is the manager’s first UCITS vehicle for the UK market.
The Luxembourg domiciled Fund – advised from India by Sunil Singhania, CIO at RCAM – draws upon the philosophy and process behind the firm’s flagship fund, the Reliance Growth Fund, which has delivered an 80x return for investors over its 20 year track record.
The new fund follows the Cohesion India Best Ideas Fund (a non UCITS SICAV), launched by Cohesion in partnership with Reliance last December which was targeted at the ultra-high net worth family office community and offers a more concentrated investment strategy than the UCITS vehicle.
The India Equities Portfolio Fund, which has been designed for the broader discretionary fund management community, has a minimum investment of USD 10,000 or the GBP equivalent, and has launched with assets of USD 50 million. The Fund will make full use of Reliance’s research capability and will target around 40-50 stocks, across all market caps.
Commenting on the launch, Spike Hughes, founder and CEO of Cohesion, says: “India is the fastest-growing major economy in the World, projected to become the World’s third biggest economy after the US and China – a structural and diverse long-term growth story with many indisputable drivers. We have been engaged these past years in building privileged access to its equity market in partnership with Reliance, which is not just a household name in India but the household name – a conglomerate, which positively influences the lives of around 250 million customers (which is one in every 5 of the Indian population), and which is backed by the Ambani family, one of the richest and most successful in the World. As the firm’s exclusive distribution partner for the UK and Channel Islands, we are absolutely delighted to give UK investors access to Reliance’s deeply experienced investment team through the Cohesion India Best Ideas Fund and the new Reliance UCITS fund.”
RCAM CEO, Sundeep Sikka, says: “India is set to become one of the top three economies in the World; her time has come….. so too the time for investors to carve India out of the traditional global emerging markets bucket and allocate to the country direct. As an onshore India-based fund manager, and India’s leading mutual fund, we always have our ear to the ground – as such we believe we are far better placed to spot tomorrow’s big investment stories than our peers in London or New York. It is the right time to be bringing our capability and experience in the Indian markets to UK investors, and we could not be more pleased than to be doing so in partnership with Cohesion Investments.”