8 January 2018 - Five years after soft-closing the fund, Stewart Investors has announced it is re-opening the Stewart Investors Indian Subcontinent fund to new investors.
The company took the decision to soft-close the fund in 2012 (then called First State Indian Subcontinent), following a period of substantial interest and inflows of money from investors. They wanted to maintain the integrity of the investment process and not take on so many assets that they were forced to invest in stocks in which they had limited conviction.
Since 2012, the Indian economy has thrived and the stock market has seen more and more companies enter the index, increasing the investible universe.
Managers David Gait and Sashi Reddy believe this move will allow them access to a greater pool of potential investments in order to generate a return for investors and they are therefore now comfortable re-opening the fund to new investors.