Jersey-based investment manager Ashburton, a subsidiary of FirstRand International Asset Management, has announced the imminent launch of a ...

Jersey-based investment manager Ashburton, a subsidiary of FirstRand International Asset Management, has announced the imminent launch of a “Chindia” equity fund. This will aim to achieve capital growth primarily by investing in Chinese and Indian companies; it will be managed by Jonathan Schiessl, who has had responsibility for the Asia Pacific region at Ashburton for the last six years. Mr Schiessl believes that global economic power is gravitating towards China and India and that the sustained surge in domestic consumption will be a primary factor driving future growth acceleration. He said: “Reliance on growth from exports is decreasing in both China and India, and consumer demand is growing exponentially as a result of an expanding generation with much higher aspirations. Combined, these two countries will be the second largest economic power in the next 15 years.” He continued: “China is expected to grow at a rate of 8 per cent to 10 per cent per annum for the foreseeable future, while a growth rate of 8 per cent per year is projected for India. This growth will be primarily driven by demographics as the working population of both countries is expected to increase by 250 million by 2020.”