India Equities Fund (INE)

Shares / Stock Code

INE

Stock Exchange / Sharemarket

ax

India Equities Fund (INE) is a LIC that invests in Indian equities. The portfolio comprises stocks listed on the two major stock exchanges in India, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The portfolio is managed by the Investment Manager, Kotak Mahindra (UK) Limited (KMUK), which is a prominent investor in the local Indian market, with Olympus Funds Management Ltd responsible for managing the vehicle, providing both strategic advice and investment guidelines. It was listed on the ASX on 5 April 2007.

The Fund's investment objective is to achieve long-term capital growth through a diversified portfolio of predominantly large cap companies listed on the Bombay and National Stock Exchanges. Since between 30 June 2000 and 30 June 2008 the Indian stock market has outperformed the Chinese and Australian stock markets - Bombay Stock Exchange (BSE) 200 Index, measured in Indian Rupees, has delivered 15.6% compound annualised returns over eights years; and 31.8% compound annualised returns over five years.

IEFL's Investment Manager is Kotak Mahindra (UK) Ltd, a 100% owned subsidiary of India's Kotak Mahindra Bank. Kotak Mahindra Group is one of the leading diversified financial services companies in India providing stockbroking, banking, insurance and asset management services. It is the 2nd largest diversified financial group in India and the 5th largest commercial bank by market capitalisation.

Kotak Mahindra (UK) Ltd was established in 1994 to manage a range of discretionary and non-discretionary portfolios for international clients seeking exposure to Indian financial markets. Kotak Mahindra (UK) Ltd is a Member of London Stock Exchange and regulated by UK Financial Services Authority. It is also a registered Foreign Institutional Investor (FII) with Securities and Exchange Board of India.