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Other:

What is it called and what sort of savings product is it?
The India Equities Fund is an IPO on the Australian Stock Exchange seeking to raise between A$75 - 200 million to invest in Indian shares.

Who is the company behind it?
The fund has been set up as a company and has appointed little-known Australian fund manager Olympus Funds Management as its manager. Kotak Mahindra UK is its investment manager. Kotak is a subsidiary of one of the 10 largest listed Indian banks.

Who is the target market?
Anyone prepared to take a take a punt on the Indian sharemarket.

What return does it offer?
The fund is aiming for a 20% absolute return and to outperform the Bombay Stock Exchange BSE200 index.

When was it launched?
The offer opened on February 26.

What other products is it like or is it competing with?
This is pretty unique as it is a listed investment company investing in Indian shares. Its low risk competitor at the moment is Liontamer's BRICK capital protected fund which has some exposure to India. However the two are at totally opposite ends of the risk spectrum.

Is it long term, short term or medium term?
With a share fund like this you would look to hold for a long term.

What is the unique selling point?
Your chance to invest into Indian shares. India is seen as one of the emerging economic powerhouses of the world and has been doing well. Also there is a stapled option with the shares with an exercise date in September 2008.

How strong a stomach do you need for it?
About the same as you need to handle a genuine hot vindaloo.

What's the hitch?
While the Indian economic story is one of success at the moment there is no guarantee it will continue. The fund is using a little known manager and there are currency risks as it is an Australian dollar investment. The money invested will be converted into rupees and the fund will be unhedged.

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