Fund Objective

The Fund aims to achieve long-term capital growth.

Future Expectations

India's economy remains relatively firm, with GDP growth for this fi nancial year (April 08 to March 09) expected at 7.5%. Although growth is slowing, affected by high infl ation and high interest rates at the start of the year, the effects of the recent steep decline in oil, commodity and food prices have yet to fully work through to lower infl ation, which has begun to show signs of reducing.A rapid rise in the number of middle class households and an increase in the government's infrastructure spending are the main reasons why we expect growth to remain resilient in India over the long term. Recent healthy economic growth and greater corporate activity have also increased India's confi dence as a global player. Households that we classify as middle class or above constituted only 7% of the population in 2005.This proportion is expected to rise to 49% by 2025, making nearly half the country's 1.1 billion population middle class. This should continue to bolster growth in the country's consumer spending.

Fund Details