Bangkok--23 Feb--Aberdeen
Aberdeen is to launch a new fund “Aberdeen India Growth Fund (ABIG)” investing in listed companies in India’s stock market. The fund is the latest in the company’s FIF range and will bring the number of such funds in the company’s stable to eight.
With an impressive continuous economic growth, India is economic super power and rising to the world’s economic center. Huge population and rapid labor force growth supporting expansion of middle class results higher demand for commodities as well as goods and services.
In term of stock market, India’s stock market is the fourth-largest stock market in Asia. India offers immense investment opportunities across sectors. The most capable management teams understand corporate governance and shareholder rights.
Strong economic fundamentals with domestic-led economy can help India avoid the recent global recession. High savings, supportive demographics and a healthy banking system underpin ambitious 8-10% growth target for next few years. Improving exports and rising consumerism bring more investment choices. In addition, market reforms attract foreign investment. Liberalization of the economy has been instrumental in opening India’s key sectors to enterprise. Further deregulation is expected to encourage greater foreign investment and competition.
Corporate balance sheets are generally sound, with relative low level of leverage. Backed by strong earnings growth, companies should continue to deliver positive returns for shareholders.
Mr. Adrian Lim, Senior Investment Manager, Aberdeen India Growth Fund, Aberdeen Singapore said “the fund mainly invests in financial sector well-positioned for rising demand of financial products and services and also invests in information technology companies which will benefit from strong out-sourcing trend in the developed world. Concentrated portfolio of 30-35 stocks is indifferent to the benchmark — we only invest in 8 of the top 20 stocks. We prefer companies with relatively low levels of regulatory and cyclical risk.”
Mr. Adithep Vanabriksha, Chief Investment officer Aberdeen Asset management, added
“India’s economy is strong. We can see that Indian equities have returned to their pre-crisis peak, with foreign investors back in force. India’s stock market seems vulnerable to profit-taking in short term, but any pullback should present a buying opportunity for long term investment. India economic growth is helped by low export dependency and sustained domestic demand, which blunted impact of global financial crisis.”
The IPO period of Aberdeen India Growth Fund (ABIG) is during February 28 — March 14, 2011. Special promotion during IPO period; Every 1 million Baht of investment amount made into Aberdeen India Growth Fund during IPO period, receive THB 1,500 of Central Gift Voucher or unit trusts of Aberdeen Cash Creation Fund. (Conditions apply)
About Aberdeen Asset Management Group
Aberdeen Asset Management manages over US$286.99 bn* of third party assets from its offices around the world. At Aberdeen, asset management is our sole business. We operate independently and only manage assets for third parties, allowing us to focus only on their needs, without conflicts of interest. Our clients access our investment expertise across the three asset classes: equities, fixed income and property. We package our skills in the form of segregated and pooled products across borders. We invest worldwide and follow a predominantly long-only approach, based on fundamentally sound investments — we do not chase market fads.
*Data as of end Dec 2010
For more info, please contact
Chananthima Pinngoen Tel. 0-2352-3382
Head of Marketing
Natt Pongtanakorn Tel. 0-2352-3384
Client Services officer
Warning:
Investment in a foreign investment fund (FIF) is subject to currency risk and may get a return lower than the amount initially invested. Investments contain risks. Investor should study prospectus before making a decision to invest.