An Indian equities boutique has won a mandate from Infocus Wealth Management multi-manager subsidiary Alpha Fund Managers.
Alpha has taken a stake in India Avenue Investment Management's India Avenue Equity Fund, which currently invests in 51 listed Indian companies that match local consumption trends. It aims to outperform the MSCI India (AUD) Index over rolling five-year periods.
Alpha portfolio manager Julien Brodie said his firm "wanted to gain direct exposure to the Indian market given the structural reforms taking place and potential for outsized growth versus other markets."
"India Avenue is well-regarded and one of the few managers offering direct Indian equity exposure to the Australian market, making it an attractive fit for our global equities portfolio," Brodie added.
India Avenue managing director Mugunthan Siva said: "The investment is a testament to the strategy and the team's capabilities, prior track record and dual domiciled in Australia and India.
"Investing in India makes sense for Australian investors, given India's economy, currency and equity market all thrive when commodity prices are benign or falling; the investment is the antithesis of the commodity play."