Schiessl continues to manage fund

IIFL Asset Management (IIFL AMC) has launched its first Luxembourg domiciled UCITS Fund, IIFL India Equity Opportunities Fund (IIFL Fund), by virtue of merger of Ashburton India Equity Opportunities Fund into IIFL Fund.

Pursuant to this, IIFL Fund has commenced its operations with US$75 million in assets under management, effective 29 January 2019, with IIFL Capital Pte Ltd of Singapore being its Investment Manager.

Jonathan Schiessl, Fund Manager, will continue managing the merged IIFL Fund under IIFL AMC.

“With IIFL AMC and its deep understanding of the Indian market, I am confident that clients of the IIFL Fund will benefit immensely,” said Schiessl in announcement on the merger on 11 Feb 2019.

Anup Maheshwari, Joint-CEO and CIO, IIFL Asset Management, added: “I am confident that Jonathan’s investment style of investing in high conviction stocks with a strong focus on quality will continue to resonate with International Investors. It is very complementary to the overall investment philosophy at IIFL AMC as well.”

The IIFL Fund is registered for sale in UK, Switzerland, Finland, Norway, Luxembourg, Singapore and South Africa.

IIFL Asset Management (IIFL AMC) is part of IIFL Investment Managers. IIFL Asset Management refers to licensed asset management activity carried out by IIFL Investment Managers through its group companies based in Singapore, India and Mauritius. IIFL AMC is an asset management firm, launched with an objective of providing differentiated investment products suited for the market environment.

IIFL India Equity Opportunities Fund, is a sub-fund of IIFL Fund, a UCITS in the form of an open-ended investment company (société d’investissement à capital variable) incorporated as a société anonyme, domiciled in Luxembourg, structured as an umbrella fund comprising multiple sub-funds. IIFL Capital Pte. Ltd. (an asset management company based in Singapore) is the Investment Manager to IIFL India Equity Opportunities Fund. fiinews.com