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*
FUND DOCUMENTS
Target Market Document
AUSTRALIAN INVESTORS
INVESTMENT VALUE GREATER THAN $50,000
INVESTMENT VALUE LESS THAN $50,000
NEW ZEALAND INVESTORS
OTHER FORMS
FUND FACTS
FUND PERFORMANCE
DECEMBER 2022
| M Class | 3 Months | 1 Year | 2 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 Class | 3 Months | 1 Year | 2 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
| Strategy | 3 Months | 1 Year | 2 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 India | 7.22% | 0.06% | 12.79% | 17.50% | 9.02% | 9.88% |
| Ecxess Return | 0.22% | -2.10% | -1.71% | 1.52% | -2.34% | -1.66% |
| Strategy | 3 Months | 1 Year | 2 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 India | 7.22% | 0.06% | 12.79% | 17.50% | 9.02% | 9.56% |
| Ecxess Return | 0.10% | -2.52% | -2.25% | 0.96% | -2.86% | -2.66% |
| Strategy | 3 Months | 1 Year | 2 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 India | 7.22% | 0.06% | 12.79% | 14.52% | ||
| Ecxess Return | 0.26% | -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
| Name | Industry | Weight |
| Bajaj Finance | Financials | 3.97% |
| ICICI Bank | Financials | 3.92% |
| Infosys | Information Technology | 3.17% |
| Redington (India) | Information Technology | 3.08% |
| Tech Mahindra | Information Technology | 3.06% |
| HCL Technologies | Information Technology | 2.55% |
| Shriram Transport Fin Co. | Financials | 2.53% |
| Persistent Systems | Information Technology | 2.19% |
| Axis Bank | Financials | 2.16% |
| Hindalco Industries | Materials | 2.12% |
| 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 International | Health Care | 1.74% |
| 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% |
India Avenue is a boutique investment management firm providing investment solutions that allow our clients to benefit from India’s remarkable growth story.
OUR BUSINESS
2005
The journey towards the “birth” of India Avenue originated in 2005, when ING Investment Management started a business in India as a separate division, utilising a practiced multi-manager philosophy in markets like Australia, and exported it to India. Three of our founders, Mugunthan Siva, Rajeev Thakkar and Sajjan Raut Desai worked together for INGIM (India), building investment strategies and structures, under this philosophy and applying them to Indian capital markets
2011
In 2011 our founders started discussing the possibility of building an investment firm with a capability to provide a focus on India as an stand-alone investment jurisdiction for foreign investors. The founders identified Australia and New Zealand as nascent markets for investing in regional locations, with the potential to accelerate given education and insights which the firm could provide.
2015
By 2015 the group of founders decided to work full-time on this concept to bring it to life. They did this by leaving their existing employment, thus exercising high conviction in the investment region of India as a long-term structural story for investors in Australia and New Zealand. Thus, the firm India Avenue Investment Management was registered and came to life in 2015 in Sydney, Australia.
2016
After building our business for a period of 12 months, our first fund, The India Avenue Equity Fund was launched on 6th September 2016, with strong service provider partners like Equity Trustees (RE), Mainstream (Fund Administrator), KPMG (Fund Auditor) and BNP India (Custodian).
NOW
India Avenue is now a boutique investment business firm, with clients spread across family offices, high net worth individuals, wealth advisers and financial planning firms. Our firm has focused on education and knowledge as a driver of investment behaviour and have taken a long-term approach towards Australian and New Zealand investors contemplating an allocation to India’s growth as part of their portfolios. Our firm has assets in excess of A$50m and the India Avenue Equity Fund is rated “Recommended”* by Lonsec and is available on multiple investment platforms across Australia and New Zealand.