NEW YORK--(BUSINESS WIRE)--BlackRock, Inc. (NYSE:BLK) today announced the launch of the BlackRock India Fund (NASDAQ:BAINX), providing U.S. based investors with a new opportunity to invest in the growth and diversity of the world’s fourth largest economy.
The firm will leverage its joint venture with Mumbai-based DSP BlackRock Investment Managers Pvt. Ltd., (“DSPBRIM”) one of India’s leading investment management companies, which has advised a similar fund in partnership with BlackRock for offshore investors – the BGF India Fund – since 2005.
The newly launched BlackRock India Fund for U.S.-based investors will enhance BlackRock’s existing open-end mutual fund product offerings in the U.S, which already includes more than 120 funds.
“We believe India’s strong growth and diversity of investment themes presents an exciting opportunity for investors over the medium-to-long term,” said S. Naganath, President and Chief Investment Officer of DSP BlackRock Investment Managers Pvt. Ltd..
Nick Scott, portfolio manager of the Fund and Chief Investment Officer of Asian Fundamental Equity for BlackRock Hong Kong, will oversee the BlackRock India Fund, which will also be co-advised by Anup Maheshwari* and Apoorva Shah*. Nick Scott is also portfolio manager of the BGF India Fund. The BlackRock India Fund will offer a well-diversified portfolio of Indian companies. The fund manager seeks to maximize total return by reflecting views on the macro-economic environment as well as by using a “bottom up” approach, which entails the fundamental analysis of individual stocks and companies.
Mr. Maheshwari, co-adviser of the BlackRock India Fund, added: “We believe the Fund will have a competitive advantage, given BlackRock’s global investment and risk management expertise as the world’s largest asset manager, along with the experience and proven track record of the DSPBRIM team.”
About BlackRock
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2011, BlackRock’s AUM was $3.648 trillion. BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of March 31, 2011, the firm has approximately 9,300 employees in 26 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com.
Note to Editors:
*S. Naganath is the President and Chief Investment Officer of DSP BlackRock Investment Managers Pvt. Ltd. (DSPBRIM). Mr. Naganath worked with DSPBRIM from its inception in 1996 to October 1999 as Chief Investment Officer. He then worked for Credit Suisse Asset Management, New York, as portfolio manager for international equities before re-joining DSPBRIM in 2002 as Joint President and Chief Investment Officer. Previously, in Hong Kong, he was a portfolio manager with Merrill Lynch Asset Management and GT Management. Mr. Naganath holds a Bachelor of Commerce degree from Madras University and a Post Graduate Diploma in Management (PGDM) from the Indian Institute of Management, Ahmedabad.
*Anup Maheshwari is Head, Equities & Corporate Strategy at DSPBRIM. Mr. Maheshwari joined DSPBRIM in 1997 and has managed the domestic funds since May 2001. Previously, he was Chief Investment Officer at HSBC Asset Management from December 2005 to May 2006. Between 1997 and 2000, Mr. Maheshwari also managed an offshore fund, the Merrill Lynch India Fund. Prior to joining DSPBRIM, he worked with Chescor, a British fund management firm that managed three offshore funds investing into Indian equities. He obtained a Bachelor of Commerce degree from Sydenham College, Bombay University, followed by a Post Graduate Diploma in Management from the Indian Institute of Management, Lucknow.
*Nick Scott is Chief Investment Officer of Asian Equities for BlackRock Hong Kong, who is responsible for setting regional equity investment strategy and developing BlackRock’s Asian investment platform and capabilities.
*Apoorva Shah, Executive Vice President, is a senior member of the Equities Investment team at DSPBRIM. Mr. Shah joined DSPBRIM in April 2006 and is responsible for managing various domestic funds as well as for advising offshore equity mandates. Prior to joining DSPBRIM, Apoorva held senior positions in the Global Private Client and Institutional Equity Sales divisions of DSP Merrill Lynch Ltd. He obtained a Bachelor of Commerce degree from Narsee Monjee College, Bombay University, followed by a Post Graduate Diploma in Management from the Indian Institute of Management, Ahmedabad.
# # # #
Important Risks of the Fund: The fund is actively managed and its characteristics will vary. Any holdings shown are for information only and should not be deemed as a recommendation to buy or sell the securities mentioned. Stock and bond values fluctuate in price so the value of your investment can go down depending on market conditions. International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. These risks often are heightened for investments in emerging/developing markets or smaller capital markets. The Fund will invest primarily in equity and equity related securities of Indian companies. Because the Fund concentrates its investments in India, the Fund’s performance is expected to be closely tied to economic and political conditions in India. Investing in derivatives entails specific risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility.
You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The fund’s prospectus and, if available, the summary prospectus contains this and other information about the fund and is available, along with information on other BlackRock funds, by calling 800-882-0052 or from your financial professional. The prospectus and, if available, the summary prospectus should be read carefully before investing.
FOR MORE INFORMATION: www.blackrock.com
BlackRock is a registered trademark of BlackRock, Inc. iShares
is a registered trademark of BlackRock Institutional Trust Company, N.A.
Prepared
by BlackRock Investments, LLC, member FINRA.
©2011 BlackRock, Inc.
All Rights Reserved.
Not FDIC Insured • No Bank Guarantee • May Lose Value