Needless to say, India's economy is making rapid strides with
each passing day. Stirred by the same, the Commonwealth Bank
of Australia has launched a new investment fund for prospective
investors of
Australia
to encourage them to park in Indian market.
The move will enable Australian investors to buy a minimum allocation
of USD 10,000 in the series that only entertain investments in
India. A majority of funds offer investors an opportunity to invest
in a group of emerging economies such as Brazil, Russia, India,
and China. However, capital series 12 investment fund was the
first to focus exclusively on making investments in India.
Indian economy witnesses a vigorous growth. The market was estimated
to have grown by 7.3% a year over past five years to December
2006, which makes it the second fastest growing economy in the
world, say the Australian banks.
The boom is going to sustain in Indian market and it will continue
to maintain its growth, says Commsec chief equities economist
Craig James.
The company is drawing up plans to raise a whooping amount of
USD 200 million, with a minimum subscription of USD 75 million.
The Commonwealth Bank investment vehicle is open for subscription
until April 18, 2007.
