Ellerston India Fund

The Fund is an actively managed, concentrated portfolio of high quality Indian growth companies

The portfolio comprises 20-50 Indian companies with long term sustainable growth profiles
Managed by team of dedicated Asia and India specialists who have diverse sector and geographic expertise
Distinctive high growth, high conviction, benchmark independent approach
Blends macro insights with investable long-term themes and company analysis within a highly disciplined, repeatable investment process

Fund Performance

wdt_ID	As at 31 May 2020	1 Month	3 Months	6 Months	1 Year	3 Years p.a.	Since Inception p.a
1	Fund +	-3.04%	-15.80%	-17.51%	-16.39%	1.00%	1.11%
2	Benchmark	-4.11%	-17.89%	-19.55%	-19.14%	-0.22%	-0.09%
3	Excess	1.07%	2.09%	2.04%	2.75%	1.22%	1.20%

+ Disclaimer and Notes

The returns of the funds are net of taxes, fees and expenses and assuming distributions are reinvested. The benchmark is the MSCI India Net Return Index (AUD). Since inception is 4 May 2017.

The performance figures presented are for the Ellerston India Fund ARSN 618 549 796 with the exceptions noted above. The one month return figure may be an estimate and not the final return. This estimate also impacts other performance information provided. Estimated performance figures (where indicated) are preliminary and subject to change. Returns for other classes may differ slightly. Past performance is not indicative of future performance. Ellerston Capital Limited ABN 34 110 397 674 AFSL 283 000 is the responsible entity of all the Ellerston Funds listed in the table above. The information supplied above has been prepared by Ellerston Capital Limited without taking account of the objectives, financial situation or needs of investors. Before making an investment decision about any Fund persons should obtain advice from an appropriate financial adviser, consider their own individual circumstances and obtain a copy of the relevant Product Disclosure Statement which is available on this website. This material has been prepared based on information believed to be accurate at the time of publication. Assumptions and estimates may have been made which may prove not to be accurate. Ellerston Capital undertakes no responsibility to correct any such inaccuracy. Subsequent changes in circumstances may occur at any time and may impact the accuracy of the information. To the full extent permitted by law, none of Ellerston Capital Limited, or any member of the Ellerston Capital Limited Group of companies makes any warranty as to the accuracy or completeness of the information in this website and disclaims all liability that may arise due to any information contained in this website being inaccurate, unreliable or incomplete.

Performance Chart

Income Distribution

wdt_ID	Fund Name	31 Dec 19	30 Jun 19	31 Dec 18	30 Jun 18	31 Dec 17	Distribution Frequency
1	Ellerston India Fund	0.014873	0.021530	0.029187	0.028035	Nil	Half Yearly

Research Ratings

We are rated by:

+ Disclaimer and Notes

The Lonsec Rating (assigned May 2019) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to “General Advice” (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Ellerston Capital product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria. For further information regarding Lonsec’s Ratings methodology, please refer to our website at: http://www.lonsecresearch.com.au/research-solutions/our-ratings

Exposure to strong companies in the world’s fastest growing region

AT A GLANCE

The Fund’s objective is to outperform the MSCI India Net Return (AUD) benchmark on a net of fees basis, with a focus on capital growth and downside protection. Dr Mary Manning and her team aim to generate positive returns and minimise negative returns by investing in companies in which they have the highest conviction. They filter the investment universe repeatedly to identify those companies that are likely to offer the best risk/reward profile, then assess them in detail through disciplined, ‘bottom up’ fundamental analysis and overlay that with their identified structural themes driving growth in India in order to construct the portfolio.

+ Disclaimer and Notes

DISCLAIMER: Ellerston Capital Limited ABN 34 110 397 674 AFSL 283000 is the responsible entity and issuer of units in the Ellerston India Fund ARSN 618 549 796. Any information is general and does not take into account your personal objectives, financial situation or needs. Accordingly you should consider the Product Disclosure Statement before deciding whether to acquire or continue to hold units in the Fund available from this website or by contacting us on 9021 7797.

Ellerston India Fund