India Fund

OUR FUND

INDIA AVENUE EQUITY FUND

The India Avenue Equity Fund provides a diversified exposure across high quality Indian corporate success stories as well as to companies which are less known, but with the potential to be tomorrow’s leading companies
A long-term investment, in a well-diversified portfolio of companies, listed predominantly on India’s stock exchanges. The Fund provides exposure to large, already successful companies growing strongly given India’s fundamentals as well to companies which are under-researched and less known, but with the potential to be tomorrow’s leading companies given an ecosystem highly conducive to growth. The Fund is suitable for both for institutional and retail clients with an investment horizon of 5-7 years and looking to participate and benefit from India’s growth story.

INVESTMENT OBJECTIVES

“The Fund seeks to outperform its benchmark, the MSCI India (Net) in AUD over rolling 5 year periods, with less volatility than the stated benchmark”

LONSEC RATING: RECOMMENDED*

india avenue equity fund

FUND FACTS

APIR Code
H classETL0478AU | AU60ETL04784
M classETL0482AU | AU60ETL04826
L classETL2814AU | AU60ETL28148
Buy-Sell Spread0.35% / 0.35%
Management Fees
H class1.50%
M class1.10%
L class0.95%
Performance Fees
H class10%of the excess return over the benchmark, with a high watermark
M class10%
L class15%
Latest Unit PriceDownload the Fund NAV Sheet
Valuation FrequencyDaily
AUM $75.3 Million (July 2023)
Fund Inception Date6th September 2016
Distribution FrequencyYearly at 30 June
CurrencyAustralian Dollars
BenchmarkMSCI India (Net) in AUD
Fund DomicileAustralia
Responsible entityEquity Trustees Limited
Fund administratorMainstream Fund Services Pty Ltd
Fund auditorKPMG Australia

FUND PERFORMANCE

DECEMBER 2022
M Class 3 Months1 Year2 Years (p.a.)3 Years (p.a.)5 Years (p.a.)Since Inception (p.a.)
Fund Returns (net) -6.76%-12.84%13.38%9.52%5.66%8.22%
MSCI India (AUD) -3.31%-1.32%14.98%11.65%9.08%10.40%
Relative Performance -3.45%-11.52%-1.60%-2.13%-3.42%-2.18%
H & L Class3 Months1 Year2 Years (p.a.)3 Years (p.a.)5 Years (p.a.)Since Inception H Class (06/04/17) Since Inception L Class (19/04/21)
H Class (net)-6.86%-13.16%12.82%8.99%5.14%6.92% 
L Class (net) -6.73%-12.49%    13.98%
MSCI India (AUD) -3.31%-1.32%14.98%11.65%9.08%10.12%17.49%

Past performance is not an indicator of future performance. Above returns are calculated based on the exit price of 30 th December 2022, net of fees and assuming reinvestment of dividends. Returns after 1 year are annualised. The only difference between the M, H and L class are the management and performance fees charged. The underlying investments of each class are identical.

31ST JULY, 2023
Strategy3 Months1 Year2 Years (p.a.)3 Years (p.a.)5 Years (p.a.)Since Inception (p.a.)
IAEF (M Class)12.97%14.43%7.10%22.27%8.95%9.83%
MSCI India8.82%11.36%10.02%19.05%10.17%10.85%
Excess Return4.15%3.07%-2.92%3.22%-1.22%-1.02%
Strategy3 Months1 Year2 Years (p.a.)3 Years (p.a.)5 Years (p.a.)Since Inception (p.a.)
IAEF ( H Class)12.83%13.93%6.69%21.69%8.43%8.73%
MSCI India8.82%11.36%10.02%19.05%10.17%10.64%
Excess Return4.01%2.57%-3.33%2.64%-1.74%-1.90%
Strategy3 Months1 Year2 Years (p.a.)3 Years (p.a.)5 Years (p.a.)Since Inception (p.a.)
IAEF (L Class)13.06%14.66%7.41%  17.70%
MSCI India8.82%11.36%10.02%  17.08%
Excess Return4.24%3.30%-2.61%  0.62%

Past performance is not an indicator of future performance. Above returns are calculated based on the exit price of 31st March 2023, net of fees and assuming reinvestment of dividends. Returns after 1 year are annualised. The only difference between the M, H and L class are the management and performance fees charged. The underlying investments of each class are identical.

30TH AUGUST, 2023
Strategy3 Months1 Year2 Years (p.a.)3 Years (p.a.)5 Years (p.a.)Since Inception (p.a.)#
IAEF (M Class)10.43%12.70%4.95%23.10%9.13%10.32%
MSCI India5.69%7.26%5.22%19.72%9.80%11.04%
Excess Return4.75%5.44%-0.28%3.38%-0.67%-0.71%

Strategy

3 Months

1 Year

2 Years (p.a.)

3 Years (p.a.)

5 Years (p.a.)

Since Inception (p.a.)#

IAEF ( H Class)10.31% 12.20%4.47%22.51%8.51%9.27%
MSCI India5.69%7.26%5.22%19.72%9.80%10.84%
Excess Return4.62%4.95%-0.75%2.79%-1.29%-1.57%
Strategy3 Months1 Year2 Years (p.a.)3 Years (p.a.)5 Years (p.a.)Since Inception (p.a.)#
IAEF (L Class)10.24%12.66%4.95%  18.85%
MSCI India5.69%7.26%5.22%  17.43%
Excess Return4.55%5.40%-0.28%  1.42%

Past performance is not an indicator of future performance. Above returns are calculated based on the exit price of 3oth August 2023, net of fees and assuming reinvestment of dividends. Returns after 1 year are annualised. The only difference between the M, H and L class are the management and performance fees charged. The underlying investments of each class are identical.

DECEMBER 2022
IAEF
MSCI India
30TH AUGUST, 2023
IAEF
AS OF 30TH OCTOBER, 2022
Name Industry Weight
Bajaj Finance Financials 4.69%
ICICI Bank Financials 4.05%
Infosys Information Technology 3.40%
Kotak Mahindra Bank Financials 2.70%
Avenue Supermarts Consumer Staples 2.60%
Redington (Inida)LTD Information Technology 2.51%
Shriram Transport Fin Financials 2.46%
Cyient Information Technology 2.24%
Tata Consultancy Services Information Technology 2.23%
Hindalco Industries Materials 2.11%
Tech Mahindra Information Technology 2.10%
Brigade Enter. Real Estate 2.05%
Hitachi Energy India Industrials 1.99%
SBI Life Insurance Financials 1.94%
Barbeque Nation Hosp Consumer Discretionary 1.89%
Aurobindo Pharma Health Care 1.88%
Axis Bank Financials 1.87%
Pidilite Industries Materials 1.76%
Divis Laboratories Health Care 1.75%
Info Edge (I) Communication Services 1.69%
30TH AUGUST, 2023
Stock NameWeightSector
Bajaj Finance 4.59%Financials
Axis Bank 3.12%Financials
Infosys 3.08%Information Technology
ICICI Bank  2.93%Financials
Cipla 2.75%Health Care
HDFC Bank 2.46%Financials
Hero Motocorp 2.32%Consumer Discretionary
HCl Technologies 2.25%Information Technology
Shriram Transport Fin Co.2.07%Financials
Redington (India) 2.02%Information Technology
Tata Motors  2.01%Consumer Discretionary
Aurobindo Pharma 2.00%Health Care
Brigade Enter. 2.00%Real Estate
Tech Mahindra 1.93%Information Technology
Zensar Technologies 1.85%Information Technology
Syngene International 1.85%Health Care
Barbeque Nation Hosp. 1.82%Consumer Discretionary
Cholamandalam In & Fin Co 1.78%Financials
Ultratech Cement  1.78%Materials
Interglobe Aviation 1.76%Industrials

FACTSHEET ARCHIVE

2023
2022
2021
2020
2019
2018
2017
2016

INDIA AVENUE EQUITY FUND ANNUAL REPORT

Annual Report

INDIA AVENUE EQUITY FUND TRADING HOLIDAYS

TRADING HOLIDAYS