Ashburton Investments to merge India Equity Opportunities Fund with IIFL AMC’s fund

India, December 7, 2017: Ashburton Investments, the asset management arm of the FirstRand group and IIFL Asset Management (IIFL AMC) have signed binding agreements to merge the Ashburton India Equity Opportunities Fund* into the IIFL India Equity Opportunities Fund* (UCIT’s based in Luxemburg). The merger is subject to all necessary regulatory and board approvals. Investors can continue to access the fund as normal and no action is required from existing investors.

JonathanSchiessl, Chief Investment Officer (International), Ashburton Investments, who has been managing theAshburton India Equity Opportunities Fund since its launch in 2012, willcontinue to manage the merged fund.  He will join IIFL AMC as CIO and LeadFund Manager of the merged fund with Swati Jain joining as Head: InstitutionalSales to continue distribution of the strategy to international investors.

Commentingon the development, Jonathan Schiessl, said, “We are veryexcited about this development and I expect the fund to grow from strength tostrength following this agreement. This is a highly positive collaboration, notjust for Ashburton and IIFL AMC, but more so for global clients who willbenefit from the infrastructure and depth of India research that the IIFL groupbrings on board.”

AmitShah, CEO, IIFL Asset Management Business, said, “Global investors continue toincreasingly look at India. Our AMC is indeed uniquely Indian and undeniablyglobal and we continue to bring on board the best minds in the investingcommunity from not just in India but different parts of the world. WithJonathan’s successful track record especially in his India approach, we aresure he will add significant value for investors.”

BoshoffGrobler, CEO, Ashburton Investments, said, “We truly believe that this collaboration betweenAshburton Investments and IIFL AMC will further deliver on our promise to ourclients - bringing them access to more.  We were one of the firstinvestment managers to give African investors access to investments into thefast growing and changing economy that is India.  With our new partnersIIFL AMC, we believe that our clients will experience even deeper and broaderaccess to the Indian equity markets.”

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