IIFL Asset Management (IIFL AMC) has announced the launch of its first Luxembourg-domiciled UCITS Fund, IIFL India Equity Opportunities Fund by virtue of merger of Ashburton India Equity Opportunities Fund into IIFL Fund. Pursuant to this, IIFL Fund has commenced its operations with $75 million in assets under management, effective January 29, 2019, with IIFL Capital Pte Ltd, Singapore being its Investment Manager.
Anup Maheshwari, Joint-CEO and CIO, IIFL Asset Management, said, “I am confident that Jonathan’s investment style of investing in high conviction stocks with a strong focus on quality will continue to resonate with International Investors. It is very complementary to the overall investment philosophy at IIFL AMC as well.”
Jonathan Schiessl, Fund Manager, said, “I am very excited to continue managing the merged IIFL Fund under IIFL AMC. With IIFL AMC and its deep understanding of the Indian market, I am confident that clients of the IIFL fund will benefit immensely.”
The IIFL Fund is registered for sale in UK, Switzerland, Finland, Norway, Luxembourg, Singapore and South Africa.
IIFL India Equity Opportunities Fund is a sub-fund of IIFL Fund, a UCITS in the form of an open-ended
investment company incorporated as a société anonyme, domiciled in Luxembourg, structured as an umbrella fund comprising multiple sub-funds. IIFL Capital Pte. Ltd. (an asset management company based in Singapore) is the Investment Manager to IIFL India Equity Opportunities Fund.