Jupiter launches Jupiter India Fund (SICAV)

Jupiter is delighted to announce the launch of the Jupiter India Fund (SICAV), which is managed by Avinash Vazirani.

The Jupiter India Fund is a sub-fund of the Luxembourg-domiciled Jupiter Global Fund which is registered for distribution in Austria, France, Finland, Germany,Ireland, Jersey, Luxembourg, Sweden and the UK.

The Jupiter India Fund (SICAV) recently acquired the assets of the Peninsular South Asia Access fund, which Avinash has managed since its launch in July 1995. Avinash joined Jupiter in 2007 as head of the South Asia Equities team. He also manages the Jupiter India Fund, a unit trust launched in February 2008.

Kevin Scott, Executive Director International at Jupiter Asset Management, said: "We are delighted to be extending the range of funds on offer to our international clients. In total we now have eight funds in the Jupiter Global Fund, reflecting many of Jupiter's key investment expertises and managed by some of its top performing fund managers - Avinash's Jupiter India Fund (SICAV) is an appropriate addition."

The Fund invests in a diversified portfolio, holding around 50 stocks. It is an active, stockpicking fund with an unconstrained portfolio. Avinash invests in a diversified range of stocks which meet his investment criteria to achieve growth at a reasonable price, while managing risk in the portfolio. The Fund will primarily invest in India and has the power to invest in selected opportunities in other countries in the region.

Avinash believes Indian markets offer an excellent long term investment opportunity:

He said: "The Indian market has had a volatile start to the year, with recent concerns focusing on the impact of soaring oil prices and other inflationary pressures on the economy. Both inflation and interest rates went up in May and the currency weakened.

"Despite these difficulties, underlying data remained positive. Industrial production beat expectations as March figures were revised upwards. Consumer durables growth hit a six-month high of 5.5%per annum as tax breaks stemmed falling consumption. Corporate earnings growth is still in excess of 17%per annum and April-June direct tax collections are up 38.6% year on year. Meanwhile, mergers and acquisitions activity remains robust.

"Against this background, we continue to believe that India's economic and earnings fundamentals will remain strong in the long term. This will be supported by growing consumer demand from an emerging middle class population. The consumer sector has already begun to outperform the market, along with another of our key investment themes, healthcare.

"If fiscal, monetary and procurement measures are successful in easing inflationary pressures, we should see further support for the country's economic growth and equity market."