Ashburton Investments to merge India Equity Opportunities Fund with IIFL AMC’s fund
Ashburton Investments and IIFL Asset Management (IIFL AMC) have signed binding agreements to merge the Ashburton India Equity Opportunities Fund into the IIFL India Equity Opportunities Fund. The merger is subject to all necessary regulatory and board approvals. Investors can continue to access the fund as normal and no action is required from existing investors.
Jonathan Schiessl, Chief Investment Officer (International), Ashburton Investments, who has been managing the Ashburton India Equity Opportunities Fund since its launch in 2012, will continue to manage the merged fund. He will join IIFL AMC as CIO and Lead Fund Manager of the merged fund with Swati Jain joining as Head: Institutional Sales to continue distribution of the strategy to international investors.
Amit Shah, CEO, IIFL Asset Management Business, said, “Global investors continue to increasingly look at India. Our AMC is indeed uniquely Indian and undeniably global and we continue to bring on board the best minds in the investing community from not just in India but different parts of the world. With Jonathan’s successful track record especially in his India approach, we are sure he will add significant value for investors.”
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