india equities fund limited
In April 2007, listed investment company India Equities Fund Limited (IEFL) completed a successful IPO, raising A$75 million from Australian and New Zealand investors, listing on the Australian Stock Exchange on 5 April 2007.
IEFL is the first Australian Listed Investment Company on the ASX with a portfolio dedicated to Indian equities. IEFL listed with more than 3,400 shareholders.
The Fund's investment objective is to achieve long-term capital growth through a diversified portfolio of predominantly large cap companies listed on the Bombay and National Stock Exchanges. Since between 30 June 2000 and 30 June 2008 the Indian stock market has outperformed the Chinese and Australian stock markets - Bombay Stock Exchange (BSE) 200 Index, measured in Indian Rupees, has delivered 15.6% compound annualised returns over eights years; and 31.8% compound annualised returns over five years.
In May 2010 the Board proposed a 90% capital return to shareholders which was approved at an EGM in July 2010. The company is currently reviewing options including new business proposals. If no new proposals are considered suitable, liquidation of the Company.
For information regarding capital return please contact the Shareholder Information Line on 1300 795 008.
SENSEX Index, Bombay Stock Exchange
