Appointment at the Investment

RNS Number : 9452E

India Capital Growth Fund Limited

04 January 2010

 



India Capital Growth Fund Limited

New Appointment at Investment Manager

4 January 2010

The Board is please to note the appointment of David Cornell as a new fund manager at India Investment Partners Limited ("IIP"), the investment managers of India Capital Growth Fund Limited ("ICGF").  

Fred Carr, Chairman of ICGF, commented: "David has an excellent track record in managing global emerging market investments at BDT and most recently at Henderson New Star. His appointment will strengthen the IIP team, particularly in the more liquid mid-cap space where we see significant opportunities for ICGF. Managing market volatility in 2009 has been a particular challenge for ICGF but we look forward to 2010 with great confidence." 

A copy of the announcement by India Investment Partners Limited is included at the end of this announcement.

Enquiries:

India Capital Growth Fund Limited

Northern Trust International Fund Administration Services (Guernsey) Limited - Secretary

Andrew Maiden                                                        [phone]        [e-mail]

Arbuthnot Securities Limited - NOMAD

Alastair Moreton, Hannah Pearce                              [phone]

India Capital Growth Fund Limited is a Guernsey registered, AIM listed closed ended investment company, managed by India Investment Partners Limited, that invests in small and mid cap listed companies and unlisted companies in India. As at 30th November 2009 it had net assets of £39.7 million.  Further information can be found on the website at www.indiacapitalgrowth.com.

India Investment Partners

Cayzer House, 30 Buckingham Gate, London SW1E 6NN

India Investment Partners Limited

Appointment of new Fund Manager

India Investment Partners Limited ("IIP"), manager of the India Capital Growth Fund Limited, announces the appointment of David Cornell to join the fund management team in London. David's career has been resolutely focused on emerging markets: after periods with Flemings and Salomons he joined BDT Investment Management Limited in 2004 to launch the BDT Global Emerging Market Fund which compounded at over 26% per annum for the period in which David managed the fund. In April 2008 David moved to New Star Institutional Managers to co-manage the New Star Emerging Market Fund and the global equity portfolios' growing exposure to emerging markets. David transferred to Henderson Global Investors along with the rest of the Emerging Market team following New Star's acquisition by Henderson in early 2009.

David's knowledge and love of India stems from his childhood days when he grew up in New Delhi and he has maintained strong personal and professional links ever since. After an initial spell in London it is expected that he will move with his family to Mumbai. 

Commenting, David said: "I am delighted to be joining IIP and look forward to immersing myself in the Indian market. This move marks the start of a long held ambition of mine to focus exclusively on the huge opportunity that exists in the Indian equity space today." 

David is 41 and married with four children and lives in the UK. Between 1991 and 1995 he served in the British Army, including postings in Bosnia and Norway. In 2009 he led an expedition to Antarctica, reaching the South Pole in January 2009 and completing the journey that his great-grandfather, Jameson Boyd Adams, had begun with Sir Ernest Shackleton, in 1909.

4 January 2010

Enquiries:

India Investment Partners Limited

James Winterbotham    [phone]

Jeremy Pratt                [phone]

College Hill

Tony Friend                 [phone]

India Investment Partners Limited 

Registered in England and Wales No.05583807

Registered Office as above

Authorised and Regulated by the Financial Services Authority

 

END

 

 

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