IIFL Global (IIFL) is pleased to announce the launch of a new fund, the Strategic India Fund (SIF) on its Mauritius Open Architecture platform, fully regulated by the Financial Securities Commission and designed to give investors access to best-in-class Indian strategies.
The Strategic India Fund is a collaboration between IIFL Global, Generation Systematic Solutions Ltd and HDFC Asset Management Company Ltd (HDFC AMC). SIF is a systematic multi-asset fund which aims to outperform the CNX Nifty Equity Index over a long period of time at lower volatility. The key driver of superior risk-adjusted returns is a strategic asset allocation process whereby the fund will be allocated 100% to either equities, debt or cash at any point in time. The weekly signals are generated by a proprietary trend-following model built and designed by Generation. IIFL Mauritius, a part of the IIFL Global Group, is the Investment Manager and HDFC AMC is the investment advisor to the Fund.
Generation has already seeded the Strategic India fund which launched on 1st August 2013.
Roger Mortimer, Director – Generation Systematic Solutions Ltd, said:
“The back testing of the fund since 2003 delivered 808% returns in comparison to 177% by the Nifty Index and at significantly lower volatility. The fund has been running with live recommendations since early 2013 and we are very excited to be launching this product in collaboration with IIFL and HDFC AMC. Given HDFC AMC’s long-term focus and risk management discipline, the quant overlay can be put in place with significant confidence”.
Swati Jain, Director – IIFL Wealth (UK) Ltd, said:
“India is currently going through a volatile phase and we see immense opportunity for SIF to deliver significant alpha by toggling between asset classes. The fund has already generated high level of interest reinforcing the appetite for innovative products in the market”.
Generation Systematic Solutions Ltd is a subsidiary of Arrow Capital Management (Toronto) and an affiliate of Generation Asset Management. Founded in early 2010, Generation Systematic Solutions is engaged in the research and development of systematic multi-asset strategies. The R&D process is undertaken in collaboration with Arrow Capital Management which also provides the DRP back-up for the model. Founded in 1999, Arrow’s expertise in active portfolio management and manager selection is evident in its strong, diverse platform, which provides clients with access to a global selection of outstanding alternative investment funds. One of the most experienced alternative investment fund companies in Canada and with an extensive network of global resources, Arrow has successfully navigated its clients through all types of market conditions. Arrow is a founding member of AIMA Canada (Alternative Investment Management Association) and is a substantial co-investor in its own funds.
IIFL Global is a part of the India Infoline Group, one of the largest financial conglomerates in India offering a full service platform for Institutional, Corporate, Private Wealth and Retail Clients. The group’s global footprint covers fully regulated offices in New York, London, Geneva, Dubai, Mauritius, Colombo, Singapore and Hong Kong. IIFL Global deals with large global institutions including pension funds, private banks, discretionary asset managers and family offices across Europe, U.S and Asia. They manage / advise over $3.7 billion across several asset classes worldwide as on 30th June 2013.
HDFC Asset Management Company Limited is a 60:40 JV between Housing Development Finance Corporation Limited and Standard Life Investments Limited. It is a top-tier investment manager with deep local knowledge and long-term track record of investing in the Indian markets. HDFC AMC acts as Investment Manager to HDFC Mutual Fund which is the largest mutual fund in India with average assets under management of US$ 17.68 billion as at quarter ending June 30, 2013. HDFC AMC also provides portfolio management / advisory services.
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