The Gemini MOSt India Fund, a sub-fund of Gemini Investment Funds, launched on 12 November and is expected to receive FSA approval later this week.
The Dublin-domiciled Ucits III Gemini MOSt India Fund is being managed by Taher Badesh, co-head of equities at India-based Motilal Oswal Asset Management, and Manish Sonthalia, portfolio manager
The new MOSt fund aims to outperform the S&P CNX Nifty 50 Index – comprised of India’s 50 largest stocks – over a three- to five-year rolling cycle.
The fund will invest principally in Indian equities and similar instruments, with up to 30% of total assets able to be invested in cash or cash equivalents, money market funds, Ucits or non-Ucits collective investment schemes or debt securities, though it will typically be fully invested with just 0-3% of the NAV in cash, Gemini said.
"India could well mirror the Chinese experience, embarking on a 15- to 20-year cycle of very rapid growth that would bring a boom in consumption, savings, investment and corporate profits that this fund intends to exploit,” Sonthalia said.
The initial management charge for retail investors will be 5%, with an annual fee of 1.66% and a minimum initial investment of £1,000 (see below) .
IA Fund Facts:
Fund name: Gemini MOSt India Fund
Launch date: 12 November
Domicile: Dublin
Structure: Ucits III
Managers: Taher Badesh and Manish Sonthalia (Motilal Oswal), and team
Benchmark: S&P CNX Nifty 50
Charges: Retail – initial 5%, AMC 1.66%, performance 20%
Institutional – AMC 1.16%, performance 20%
Minimum investment: $1,000, £1,000 or €1m (institutional only for €)
