IIFL Asset Management (IIFL AMC) is pleased to announce the launch of 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 $75mn in assets under management, effective January 29, 2019, with IIFL Capital Pte Ltd, Singapore being its Investment Manager.
Anup Maheshwari, Joint-CEO and CIO, IIFL Asset Management, said, "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."
Jonathan Schiessl, Fund Manager, said, "I am very excited to 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."
The IIFL Fund is registered for sale in UK, Switzerland, Finland, Norway, Luxembourg, Singapore and South Africa. Further information can be found on https://www.iiflamc.com/international
Shares of IIFL Holdings Limited was last trading in BSE at Rs.358.45 as compared to the previous close of Rs. 377.3. The total number of shares traded during the day was 15590 in over 1079 trades.
The stock hit an intraday high of Rs. 379.95 and intraday low of 354. The net turnover during the day was Rs. 5678230.