Garnaut Private Client Advisers, Melbourne, Australia, appointed global equities boutique Five Oceans to run its AV Chindia Fund, targeting companies within and outside the Asian region that are positioned to profit from the economic growth of China and India.
The initial funding was A$50 million (US$45.2 million); the total mandate is expected to be A$150 million.
“We’re quite bullish on the technology story coming out of Asia, particularly Taiwan, and the rise of the Asian consumer, especially in China. We’re tending to be less focused on the exports, given that the rest of the world is problematic,” said Five Oceans’ CEO Ross Youngman.
Simon Mumme is a reporter with Investment & Technology, Sydney.