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Chindia Equity Fund
• Jonathan Schiessl - Investment Manager 
• Building Meaningful Relationships - Contacts
China's only half the story...
China's phenomenal growth and emergence as one of the key players in the global economic arena has been an important factor in Ashburton's investment strategy over the past few years and will continue to be - but that's only half the story.
India, with just as much potential, is growing at an equally rapid pace.
The real story is 'Chindia'. And this is just the beginning.
Combined, these two countries will be the second largest economic power in the next 15 years worth approximately US$16trillion. The following projected growth statistics are staggering:
| Chindia | 2006 | 2020 |
|---|---|---|
| Working Population | 1.6 billion | 1.856 billion |
| Nominal GDP | US$2 trillion | US$16 trillion |
| Auto Sales | 7 million p.a | 32 million p.a |
| World Energy Consumption | 15% | 25% |
Source: CLSA
Whereas Chindia's working population is forecast to increase by 256 million by 2020, the US is projected to only gain 20 million over the same time period.
So, enter the Ashburton Chindia Equity Fund, launched on 1 December 2006, which allows investors to harness the growth potential of these fast growing regions.
Ashburton has successfully obtained the all important Foreign Institutional Investor (FII) status in India and established essential links in China that enable us to directly access these vibrant markets.
Whilst the long-term rewards should be tremendous, there will be challenges along the way. However, Ashburton's unconstrained, investment approach is ideally suited to the management of such a fund. We are fully prepared to take action to preserve value when markets are subject to any strong, negative influences.
That is our absolute commitment to you.
| Chindia | 2006 |
|---|---|
| The investment objective | To achieve long-term capital growth through a diversified portfolio of equity or equity related instruments predominantly in the stock-markets of China and India. The Fund will also invest in companies traded in other markets where a significant proportion of growth in their underlying business is set to derive from China or India. |
| Ways to invest | Direct investment into the Ashburton Chindia Fund. Invest via the Ashburton Advanced Portfolio Funds. |
| Risk level | This is a higher risk investment with potential for significant short-term share price volatility |
| Who should invest | Institutions or private investors looking for capital growth in the medium to long-term. |
| Launch date | Friday 1 December 2006 |
| Minimum investment | £10,000 or currency equivalent. |
| Fees and charges | 5% initial charge. 1.75% annual management fee. Initial and trail commission available |
- Access to proven expertise in the region based on the top quartile performance of the Ashburton Asia Pacific Fund over a ten year period.
- Long-term investment strategy designed to profit from the huge potential of opportunities resulting from Chindia's economic growth.
- Ashburton's distinctive equity management methodology - actively managed, unconstrained relative investing with downside protection.
- Daily dealing.
- UK FSA approved.
- Available in two currencies-US dollar or sterling.
- Competitive fees.
- Single mid-market pricing.
- Available for inclusion in SIPPs, PEPs, etc.
Jonathan Schiessl, Investment Manager
Jonathan Schiessl, Ashburton's Asia Pacific specialist, runs the Chindia Fund. He says that while the majority of the Fund will be invested in Chinese or Indian companies, it will also leverage off other multi-nationals operating outside these countries which benefit primarily from the Chindia story.
The Fund's benchmark is 50% MSCI China and 50% MSCI India. "In keeping with the Ashburton equity methodology, we will not be constrained by the benchmark. Rather, we will follow a bottom-up stock selection strategy for the Chindia Fund. This will enable us to carefully pick the companies and sectors which we believe deliver the best GARP(growth at a reasonable price) to provide optimal returns for investors."
In 2004, Jonathan was selected to join a panel of 'trendsetters' by the Asian Wall Street Journal because of the strong performance of the Asia Pacific Fund he successfully manages in Jersey.
The Asia Pacific Fund is currently in the top quartile of funds in its universe over the 10 year period since its launch. The launch of the Chindia Fund adds another string to his bow.
Further Fund details:
| Fund | Currency | Minimum investment | Equity Funds | FactSheet | Prospectus | Application form |
|---|---|---|---|---|---|---|
| Chindia Equity Fund PC | US$ or £ | £10,000* |  |
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Building Meaningful Relationships - Contacts
For more information, please contact Tom Zambon, Business Development Manager as follows:
Telephone: +44 (0)1534 512222
Facsimile: +44 (0)1534 512277
Email: tom.zambon@ashburton.com
Ashburton is about absolute commitment - Commitment to deliver returns and avoid unnecessary risk and our commitment to put the client first. We provide investment management services to those looking for solid and consistent performance, in an uncomplicated, actively managed environment. We bring a distinctive approach to managing all our offerings by applying an absolute mindset whatever their mandate.
We apply an imaginative and flexible investment approach rather than simply tracking an index. Our impressive performance track record is a result of combining experience, understanding and agility when managing investments.
Our dedicated investment team is made up of highly qualified professionals, with a broad base of skills, who specialise in creating portfolios that hold the right assets at the right time.
Ashburton's Regional Equity Services
Ashburton's regional equity funds were launched in 1997, adding a new dimension to the product range in Ashburton's stable. They provide investors with exposure to specific regional equity markets, through an actively managed portfolio investing in those countries, industry sectors and individual companies that offer the best potential to outperform each funds comparative index, both in the medium and long-term.
These higher risk funds are designed for use by Ashburton within broadly invested discretionary management portfolios. They should only be accessed by other professional portfolio managers, investors who benefit from such professional services or those who are otherwise sufficiently experienced to manage their own investment portfolio.
Equity Methodology
We employ a common methodology to all our Equity Funds and portfolios that incorporates both top down and bottom-up analysis when selecting the securities in which we invest. This is consistent with the way Ashburton manages all the money entrusted to us by clients, regardless of size or mandate. Utilising an integrated quantitative and qualitative stock selection process we invest in companies which we like and deliver the best GARP (growth at a reasonable price.)
Our Equity Funds are unconstrained relative performance Funds. We run them with the same commitment and active management style as our other Funds and portfolios. The Equity Fund managers are not index trackers and take a flexible approach to investing. Benchmarks are solely used as a reference point and do not dictate country, sector or stock weightings used in the portfolios. This approach allows us to ensure that they are adapted easily to harness opportunities and defend against threats creating superior long-term performance.
This proven methodology ensures that our clients' assets are at the leading edge of investment thinking and they can relax safe in the knowledge that they are benefiting from a robust a proven process delivering consistent and repeatable returns. That is our commitment.
Ashburton | Absolute commitment.
