Merrill Lynch Investment Managers (MLIM) has today launched a fund aimed at giving UK investors access to the Indian market.
MLIM said the Merrill Lynch International Investment Funds (MLIIF) India Fund had been positioned to benefit from the “themes of infrastructure investments, domestic consumption and outsourcing” in what is the second fastest growing country after China in terms of absolute GDP.
The group added that its main objective was to achieve long-term capital appreciation by investing at least 70% of its total net assets in equities and equity- related securities of issuers domiciled in India.
Richard Royds, head of UK retail for MLIM, said: “One of the key factors in managing a specialist fund is to make use of local talent and knowledge, for cultural awareness is an important factor in a market which is not comprehensively covered by investment research.
“By leveraging our joint venture with DSP Merrill Lynch Fund Managers in India, we have extensive ‘on the ground’ presence which allows superior insights into the market.”
References: EGi News 10/07/06
