by Ryu Hyunseok
Published 16 Apr.2024 08:45(KST)
Korea Investment Trust Management announced on the 16th that it will hold a subscription event for the Korea Investment India Top 5 Conglomerates Fund in collaboration with Korea Post Securities until May 30.
The Korea Investment India Top 5 Conglomerates Fund is a product that focuses investment on the five leading conglomerates driving India's economic growth and their affiliates. It was established in December last year. The five leading conglomerates in India are △Tata Group △Reliance △Infosys △HDFC Bank △Bajaj. Their business sectors are diversified, ranging from information technology companies to energy, finance, and consumer discretionary.
India's economy is recording high growth under Prime Minister Narendra Modi's 'Modinomics' policy. As of 2023, India's Gross Domestic Product (GDP) ranks fifth in the world (approximately $3.3851 trillion), and it is expected to achieve a growth rate in the high 7% range for this fiscal year (2023?2024). The strong growth is attributed to the Indian government's full support for pro-business policies. With Modi expected to secure a third term in the general elections held this month, the growth of the Indian economy and the top 5 conglomerates driven by Modinomics is expected to continue.
From an investor's perspective, subscribing to the Korea Investment India Top 5 Conglomerates Fund allows one to benefit from India's economic growth without concentration in any specific industry. The fund subscription is currently available through nine distributors. Among them, Korea Post Securities offers △S Class △S-P Class △S-R Class.
During the event period, subscribers to the Korea Investment India Top 5 Conglomerates Fund through Korea Post Securities can receive cultural gift certificates based on the subscription amount. The amount of cultural gift certificates varies by subscription scale. The gift certificate amounts for each tier are △5,000 KRW for purchases of 1 million KRW or more △15,000 KRW for purchases of 3 million KRW or more △30,000 KRW for purchases of 5 million KRW or more △40,000 KRW for purchases of 7 million KRW or more. Prizes will be distributed in July after confirming account maintenance status by the end of June. However, for retirement pension subscribers, the prize amount is limited to a maximum of 30,000 KRW in cultural gift certificates per person according to supervisory regulations.
A representative from Korea Investment Trust Management said, "The Korea Investment India Top 5 Conglomerates Fund has risen more than 14% this year, significantly outperforming the Indian benchmark indices SENSEX and Nifty50 during the same period. We encourage investment in the Indian market, which has shown an average annual economic growth rate of 7% over the past 10 years, through the Korea Investment India Top 5 Conglomerates Fund."
Meanwhile, the Korea Investment India Top 5 Conglomerates Fund is a performance dividend-type product, and past performance does not guarantee future results. Additionally, principal loss may occur depending on management outcomes.
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