Unprecedented buying opportunity as Indian equity market rebounds from
the global meltdown
TORONTO, June 23 /CNW/ - Lawrence Asset Management Inc. is pleased to
announce the upcoming re-launch of Lawrence India Fund ("the Fund"), an
open-ended mutual fund. Founded in late 2007, the Fund will once again be
available for purchase in July 2009, providing retail investors with the
opportunity to gain direct investment exposure to one of the world's fastest
growing economies and to the knowledge and investment expertise of Reliance
Asset Management, one of India's top mutual fund managers.
Lawrence India Fund is a long/short equity fund that invests directly
into the Indian equity market, providing Canadian investors with one of the
few means to gain exposure to well-known Indian companies such as Jindal Steel
& Power, Hindustan Petroleum Corporation, Reliance Industries Limited, Piramal
Healthcare, Tata Motors and Punjab National Bank Limited.
Lawrence Asset Management has partnered with Reliance Asset Management,
Singapore, to provide the Lawrence India Fund with research, investment
strategy advice and recommendations. Reliance Asset Management, Singapore is a
wholly owned subsidiary of Reliance Capital Asset Management Limited, the
largest mutual fund company in India.
While there are numerous emerging market funds available, there are
limited options for Canadians who prefer a focused investment approach to the
Indian economy. On the occasion of the re-launch, Ravi Sood, President of
Lawrence Asset Management Inc. said, "The Indian equity market suffered
serious declines in the global meltdown of 2008, but given India's current
economic trajectory and favourable political climate, it is projected to be at
the forefront of the global economic recovery. While most of the developed
economies struggle with significant slowdowns and even recession, India's
economy is projected to grow at a robust 6% in 2009."
Mr. Sood also noted that after experiencing a challenging year in 2008,
shares of the Lawrence India Fund have increased in value by 43% since the
beginning of 2009. "With equity valuations still significantly below levels we
saw in 2007, we think now is the ideal time for Canadian investors with a long
term investment horizon to take advantage of this unprecedented buying
opportunity and allocate a portion of their investment portfolio in to the
Indian equity markets," said Mr. Sood.
Units of the Fund will be offered at Net Asset Value per Unit and will be
available for purchase on the last business day of each week. The Fund is RRSP
For more information on how to purchase Units of the Lawrence India Fund,
please contact your investment advisor or visit us at www.lawrenceasset.com.
For further information:
For further information: Investor Relations, Catherine Stretch, (416)