Ashburton merges India fund with IIFL

indiaAshburton Investments is merging its India Equity Opportunities fund with a similar product run by Mumbai-based IIFL Asset Management. The IIFL India Equity Opportunities Fund is a Luxembourg-domiciled Ucits. Jonathan Schiessl, who has managed the Ashburton fund since its launch in 2012, will manage the merged product. Schiessl said clients would benefit “from the infrastructure and depth of India research that the IIFL group brings on board”. Ashburton Investments is part of FirstRand Group, a South African financial services company. IIFL Asset Management, formerly known as India Infoline Asset Management, has $4 billion under management. Its parent company, IIFL Investment Managers, has $20 billion of assets under advice, distribution and custody. The fund merger is subject to regulatory and board approval. ©2017 funds global asia

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