India Avenue fund distribution boosted

The India Avenue equity fund is now available across three of Australia's fastest growing investment platforms.

Clients and advisers managing and advising on superannuation assets on HUB24, Netwealth and Powerwrap can now gain exposure to Indian equities through this fund.

India Avenue has invested assets of approximately $30 million.

Mugunthan Siva, managing director and chief investment officer of India Avenue Investment Management, said: "India is economically diverse to Australia given its fortunes are not driven by commodity prices. Thus, there is a low correlation between the economies and its stock markets."

"With strong sustainable corporate earnings growth, driven by India's demographics, it is likely that India's stock market will benefit.

India's GDP is now twice that of Australia's and is growing at a much more rapid pace than Australia and the rest of the developed and developing world, he added.

"It makes sense for investors to consider an initial allocation as a part of their long-term growth investments," he said.

The fund managers are keen to communicate to Australian investors there is potential for growth in Indian equities.

According to World Bank data, India is projected to be the world's third largest economy by 2030, behind only the US and China.

Last year, India overtook France to become the world's sixth largest economy, behind the UK in fifth place.

India Avenue says Australian super funds currently allocate an average of less than 1% to India.

Read more: USAustraliaIndia Avenue Investment ManagementChinaFranceNetwealthPowerwrapUKWorld Bank
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