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 $68.2 Million (April 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.

APRIL 2023
Strategy3 Months1 Year2 Years (p.a.)3 Years (p.a.)5 Years (p.a.)Since Inception (p.a.)
IAEF (M Class)7.44%-2.04%11.09%19.02%6.68%8.22%
MSCI India7.22%0.06%12.79%17.50%9.02%9.88%
Ecxess Return0.22%-2.10%-1.71%1.52%-2.34%-1.66%
Strategy3 Months1 Year2 Years (p.a.)3 Years (p.a.)5 Years (p.a.)Since Inception (p.a.)
IAEF (H Class)7.33%-2.46%10.54%18.45%6.16%6.96%
MSCI India7.22%0.06%12.79%17.50%9.02%9.56%
Ecxess Return0.10%-2.52%-2.25%0.96%-2.86%-2.66%
Strategy3 Months1 Year2 Years (p.a.)3 Years (p.a.)5 Years (p.a.)Since Inception (p.a.)
IAEF (L Class)7.48%-1.88%11.02%  13.06%
MSCI India7.22%0.06%12.79%  14.52%
Ecxess Return0.26%-1.94%-1.78%  -1.47%

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.

DECEMBER 2022
IAEF
MSCI India
APRIL 2023
IAEF
MSCI India
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%
MARCH 2023
NameIndustryWeight
Bajaj FinanceFinancials3.97%
ICICI BankFinancials3.92%
InfosysInformation Technology3.17%
Redington (India)Information Technology3.08%
Tech Mahindra Information Technology3.06%
HCL Technologies Information Technology2.55%
Shriram Transport Fin Co.Financials2.53%
Persistent SystemsInformation Technology2.19%
Axis BankFinancials2.16%
Hindalco IndustriesMaterials2.12%
Aurobindo Pharma Health Care 2.10%
Tata Consultancy Services Information Technology 1.99%
Brigade Enter Real Estate 1.96%
Cipla Health Care 1.76%
Syngene InternationalHealth Care1.74%
Avenue Supermarts Consumer Staples 1.71%
Interglobe Aviation Industrials 1.70%
Aia Engineering Industrials 1.66%
Kotak Mahindra Bank Financials 1.64%
SBI Life Insurance Financials 1.50%