Jaipur AM Master Fund

The Jaipur AM Master Fund consists of two different unit classes, the Jaipur India Growth Fund Unit Class and the Jaipur India Sustainable Impact Unit Class.

Investors will have the opportunity to invest in the Jaipur India Growth Fund Unit Class, a compelling opportunity for Institutional, Professional or Wholesale investors who are domiciled in Australia for tax purposes, to invest in India; or the Jaipur India Sustainable Impact Unit Class, the first India centric investment product available to Australian investors based on the principles of environment, sustainability and good governance.

This is an exciting opportunity for Australian investors to invest through the Fund’s unit classes, whose profits are derived from the underlying investments based in India.

Notably:

• The Fund offers the opportunity to invest in a country that is experiencing strong GDP growth that is forecast to continue for a long time to come.
• We offer investors the ability to access a range of high-quality Indian fund managers. The asset managers currently selected are three of the largest and best-known managers in India, giving investors the confidence that their monies are being managed by well-established firms that also have impressive track records.
• India is one of the fastest-growing nations in the world. This is set to continue for a number of reasons.
• India is in the midst of some of the most significant changes it has undertaken in many decades. Newfound political stability, as well as a strong desire on the part of the government to invest in and encourage private investment in areas that will help bring hundreds of millions out of poverty, means that the opportunity to invest is greater than ever.
• The reform agenda in India is extensive and includes areas such as infrastructure, taxation, deregulation of certain industries, increasing transparency and improving governance and labour markets.
• India also has a great natural advantage for future growth in its demographics2. The median age in India in 2020 was approximately 29 years. This compares to Australia’s average of 37.9 years and the US, where the average age is 38.3 years. This demographic dividend means that India’s workforce is proportionally larger.
• Extensive due diligence on a number of high-quality Indian fund managers. We believe we have found managers who will deliver the benefits of the high Indian growth rate and the transformation of the economy to investors.
• In our view, the best investment approach to equities in a developing country such as India is a GARP approach, which identifies stocks with the best growth and quality characteristics, trading at a reasonable price.
• We also believe that a focus on ethical, social and governance (ESG) issues should positively impact investment outcomes over the longer term and have determined to offer a choice to our investors.
• ESG issues are often a challenge for investors considering Emerging markets such as India. A fund based on good governance as well as environment and sustainability enables investors to have a positive impact in a country which is focused on improving the situation of its poorest citizens.

Jaipur India Growth Fund Unit Class

The Jaipur India Growth Fund Unit Class, established in 2016, is the inaugural unit class of the Jaipur AM Master Fund, offering investors the opportunity to invest in Indian-related investments. The Jaipur India Growth Unit Class invests in the underlying investments via the Jaipur India Growth Fund (Sub-Fund).

The Jaipur India Growth Fund Unit Class aims to provide a total return (both capital growth and income), after fees and costs that exceeds the MSCI India Index by 200 bps per annum after fees over the medium to long term.

Jaipur India Sustainable Impact Unit Class

The Jaipur India Sustainable Impact Unit Class is the first Indian centric investment option available to Australian investors based on the principles of environment, sustainability and good governance.

The objective of the Jaipur India Sustainable Impact Unit Class is to provide investors with opportunities for long- term growth in capital through an active management of investments in a diversified basket of companies following Environmental, Social and Governance (ESG) criteria.

The benchmark for the Jaipur India Sustainable Impact Unit Class is the Nifty 100 ESG Index TRI.

Jaipur India Growth Fund Unit Class

We believe that the best approach to investing in a developing, inefficient market such as the Indian stock market is a "Growth at a Reasonable Price" (GARP) style. This is because stocks with GARP characteristics should provide the best opportunity to benefit from the strong projected growth rate of the Indian economy.

Jaipur India Sustainable Impact Unit Class

The Fund primarily invests in funds where the Underlying Asset Manager’s strategy is largely skewed towards use of growth over value stocks and follow a combination of top down and bottom up approaches. 

Investing in the Fund provides investors with:

• The opportunity to invest in India, a country that is experiencing strong GDP growth, which is forecast to continue for some time
• An underlying investment in a professionally managed portfolio of Indian equities
• Easy access to the investment expertise of some of the largest and best-known managers in India
• The potential for long-term capital growth and some income
• Clearly defined investment and risk management strategies

Investors should be aware that due to the size of the Indian Stock Exchanges, there are some additional risks involved in investing in the Fund, compared to an Australian equities fund, which holds securities in Australian-listed companies.

This publication details the features, benefits, risks and general information about the Jaipur AM Master Fund (Fund).

The trustee and custodian for the Fund is Vasco Trustees Limited ACN 138 715 009 AFSL 344486.

The contents of this publication are not intended as financial product advice and have been prepared without taking into account your investment objectives, financial circumstances or particular needs. You should read the Information Memorandum (IM) for the Fund in full to consider whether an investment is appropriate for you. The IM for the Fund is available at www.vascofm.com.

Vasco Trustees only provides its services in respect of the Fund to wholesale investors, as defined in s761G of the Corporations Act.

Neither Vasco Trustees or any other party guarantees any income or capital return of the Fund. We strongly recommend that you seek your own professional financial and legal advice prior to any investment decisions.