Eastspring Investments, Prudential's Asian asset management arm, has launched an India Discovery fund under its Luxembourg UCITS umbrella, to be advised by affiliate firm ICICI Prudential AMC in Mumbai.
The company said the fund mirrors the existing ICICI Prudential Value Discovery strategy by investing in undervalued, out-of-favour companies while using existing research and a contrarian, value-based approach. The new fund's management team combines the expertise of the two asset management houses, headed up by Anand Gupta, portfolio manager at Eastspring Investments, who has been at the company since January 2010. Eastspring said it has seen increased interest in India as a viable investment option as the region has benefited from a credible reform programme, favourable demographi...
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