Date of Launch
Authorised for Sale
Asian Equities Team
Other Equities Funds
Aberdeen India Opportunities Fund
Aims to achieve long term capital growth by investing all or substantially all of its assets in the Aberdeen Global – Indian Equity Fund (the “underlying fund”), a sub-fund of the Luxembourg-registered Aberdeen Global, which invests at least two-thirds of its assets in equities and equity-related securities of companies with their registered office in India; and/ or, of companies which have the preponderance of their business activities in India; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in India.
The current investment policy of the underlying fund, into which the Aberdeen India Opportunities Fund feeds, is to invest in India via a Mauritian subsidiary. Investors should refer to the prospectus for further information on the Mauritian subsidiary.
Manager's Monthly Report
- Indian equities rose in April on hopes that easing price pressures will spur
policymakers to further loosen monetary policy. At the time of writing, the central
bank cut its benchmark repo rate by 25 basis points to 7.25%.
- The current account deficit rose to a record in the December-quarter.
- The local car market contracted in the year to March as high borrowing costs and
fuel prices dampened demand. Manufacturers responded by cutting production and
tapping the export market.
- In portfolio-related news, Anglo-Dutch company Unilever made an offer to increase
its stake in our holding Hindustan Unilever to 75% in a deal worth US$5.4 billion.
Separately, the local subsidiary reported solid full-year sales and profits, with all
segments delivering good operating profi ts. Healthy domestic and Indonesian
revenues bolstered Godrej Consumer Products’s final quarter, while robust loan
growth boosted ICICI Bank and HDFC Bank. Tata Consultancy Services’s full-year net
earnings grew 34%, whereas Infosys reported a more modest expansion of 8% as it
continued to restructure its business to regain growth momentum. Meanwhile, the
economic slowdown affected March quarter-end sales for Hero MotoCorp, Castrol
India and UltraTech Cement.
- In April, we continued to build our position in cement maker ACC.