Ashburton to merge India Equity Opps fund with IIFL equivalent

Will continue to be managed by Jonathan Schiessl

Ashburton Investments, the asset management arm of the FirstRand group and IIFL Asset Management (IIFL AMC), has announced plans to merge its $120m India Equity Opportunities fund with the IIFL India Equity Opportunities fund, subject to all regulatory and board approvals.

Investors can continue to access the fund as normal and no action is required from existing investors, the group said.  The new combined fund will continue to be managed by Ashburton's CIO (International) Jonathan Schiessl, who has run Asburton India Equity Opps since its launch in 2012. He will join IIFL AMC as CIO and lead fund manager of the merged fund, with Swati Jain joining as head of institutional sales to continue distribution of the strategy to international investors. Schiessl said: "We are very excited about this development and I expect the fund to go from strength to ...