Ashoka Indian Equity seeks approval to double average number of holdings

Proposes 50 to 100

Ashoka Indian Equity has written to investors proposing a change to the investment policy that would see the investment trust’s typical holdings double.

The board set out proposals that would have the portfolio rise from 25 to 50 holdings to 50 to 100, with a caveat that the fund may often hold less or more than this range. A general meeting has been convened for 29 July 2022 and the resolution will be voted on by shareholders, requiring a simple majority to be passed. Baillie Gifford's Roderick Snell: The better businesses are in India over China Since the company's net asset value has more than quadrupled to £189m since its IPO in 2018, the managers argued the number of investments needs to increase accordingly to take advantage ...