Canadian company re-launches Lawrence India Fund

TORONTO: Lawrence Asset Management Inc has announced the re-launch of Lawrence India Fund, an open-ended mutual fund for Canadian investors.

The Fund will be available for purchase from July 2009, providing retail investors with the opportunity to gain direct investment exposure to one of the world's fastest growing economies and to the knowledge and investment expertise of Reliance Asset Management, one of India's top mutual fund managers, the company said in a press release. .

Founded in late 2007, Lawrence India Fund is a long/short equity fund that invests directly into the Indian equity market, providing Canadian investors exposure to well-known Indian companies such as Jindal Steel and Power, Hindustan Petroleum Corporation, Reliance Industries, Tata Motors.

Lawrence Asset Management has partnered with Reliance Asset Management, Singapore, to provide the Lawrence India Fund. Reliance Asset Management, Singapore, is a wholly-owned subsidiary of Reliance Capital Asset Management Ltd, the largest mutual fund company in India.

While there are numerous emerging market funds available, there are limited options for Canadians who prefer a focused investment approach to the Indian economy.

Lawrence Asset Management Inc President Ravi Sood said that the Indian equity market suffered serious declines in the global meltdown of 2008, but given India's current economic trajectory, and favorable political climate it is projected to be at the forefront of the global economic recovery.