BNY Mellon said that the new fund is designed to achieve long-term capital appreciation, through investments in Indian companies.
Dreyfus India Fund will normally invest at least 80% of its assets in the securities of Indian issuers and other investments that are tied economically to India.
Dreyfus India Fund may invest in equity and fixed income securities. The fund may also invest up to 20% of its assets in the securities of issuers located in countries other than India.
The fund’s investment adviser is Dreyfus. Dreyfus has engaged its affiliate, Hamon US Investment Advisors, to serve as the fund’s sub-investment adviser.
Dreyfus chairman and CEO Jon Baum said India is the eighth largest economy in the world and they see enormous opportunity.
"Dreyfus has leveraged Hamon’s expertise in Asian markets through its management of Dreyfus Greater China Fund and Dreyfus Emerging Asia Fund. We are confident that Hamon will continue to uncover opportunities for shareholders in this vibrant market," Baum said.
