Ashburton on voyage of discovery in India

Friday 21st April 2006, 12:00AM BST.

TWO Jersey investment specialists have recently visited India on a fact-finding mission to gain first-hand insight into the potential for investment.

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.

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