Jonathan Schiessl, who manages Ashburton’s Asia Pacific Fund, and Nick Lee, director of fund management and investment at Ashburton, attended a major conference for investors in Mombai (Bombay).
They are now convinced that the Indian market is the best long-term story in the Asia Pacific region.
Potential investors from outside India cannot buy stocks and shares unless they have a Foreign Institutional Investor (FII) permit and it has taken Ashburton three years to obtain one.
‘It is quite a bureaucratic exercise,’ explained Mr Lee.
‘Ashburton is one of only a few firms in Jersey to have FII status and there are less than 500 FII qualified companies worldwide.