Shinsei Asset Management (India) has launched its maiden equity scheme — Shinsei Industry Leaders Fund.
Its new fund offer opened for subscription on July 27 and will close on August 25, a press release issued here today said.
Shinsei Industry Leaders Fund is an open-ended equity scheme which will invest in equity and equity-related securities of companies identified as industry leaders.
David Pezarkar, Head-Equities at Shinsei AMC who is the designated fund manager for the scheme said that "we have already done significant groundwork for this scheme and will do our best to provide the investor with optimum value."
An industry leader is a company, which, in the opinion of the fund manager has been among the most profitable company in the sector over the last three years or been among the companies registering the highest growth rates in sales in the sector over the last three years.
Another criteria is that it should have attained a major market share in India and possess the potential to maintain or increase its marketshare in one or more products or services within its principal sector, the release said.
The scheme is benchmarked against the BSE 100 index and offers both growth and dividend options to investors.
Shinsei AMC's CIO, Sethuram Iyer, said that there is a strong investment rationale for this product as industry leaders tend to have significant business advantages which in general translate into better stock market performance.