Investment Policy
Investment Objective
Ashoka India Equity Investment Trust plc (“the Company”) is a high conviction long-only equity investment trust.
The investment objective of the Company is to achieve long-term capital appreciation, mainly through investment in securities listed in India and listed securities of companies with a significant presence in India.

Investment Objective
Ashoka India Equity Investment Trust plc (“the Company”) is a high conviction long-only equity investment trust.
The investment objective of the Company is to achieve long-term capital appreciation, mainly through investment in securities listed in India and listed securities of companies with a significant presence in India.

Summary of Investment Policy
The Company invests primarily in securities listed on any recognized stock exchange in India and securities of companies with a Significant Presence in India that are listed on stock exchanges outside India. The Company primarily invests in equities and equity-related securities (including preference shares, convertible unsecured loan stock, rights, warrants and other similar securities).
In pursuance of its objective, the Company also abides by following rules:
01.
Invest no more than 10 per cent of gross assets in unquoted companies with a significant presence in India
02.
Invest no more than 15 percent of Gross Assets in any single holding/securities of any one issuer
03.
Invest no more than 40 per cent of Gross Assets in any single sector
04.
Invest no more than 15 per cent of Gross Assets in other listed closed-ended investment funds
05.
Currency movements are not part of the alpha generation and the Company does not intend to use currency hedges
06.
The Company can use borrowing to gear the portfolio to up to 20% of net assets where appropriate
07.
The Company is not restricted to investing in the constituent companies of any benchmark
08.
The Company does not take controlling interests in investee companies
This is the summary of the Company’s investment policy. For the full investment policy please refer to our Prospectus
In pursuance of its objective, the Company also abides by following rules:
01.
Invest no more than 10 per cent of gross assets in unquoted companies with a significant presence in India.
02.
Invest no more than 15 percent of Gross Assets in any single holding/securities of any one issuer
03.
Invest no more than 40 per cent of Gross Assets in any single sector
04.
Invest no more than 15 per cent of Gross Assets in other listed closed-ended investment funds
05.
Currency movements are not part of the alpha generation and the Company does not intend to use currency hedges
06.
The Company can use borrowing to gear the portfolio to up to 20% of net assets where appropriate
07.
The Company is not restricted to investing in the constituent companies of any benchmark
08.
The Company does not take controlling interests in investee companies
This is the summary of the Company’s investment policy. For the full investment policy please refer to our Prospectus

Principal Risks Relating to Emerging Market Investments
The Company invests predominantly in securities listed on recognised stock exchanges in India and securities of companies with a significant presence in India that are listed on stock exchanges outside India. Such exchanges tend not to be as large as those in more established securities markets and have substantially lower trading volumes, which may result in a lack of liquidity and higher price volatility.
The Company may invest in unquoted companies with a significant presence in India. As such, price fluctuations may have a greater impact on the Company.
The Company will invest mainly in equity and equity related securities and it is likely to experience fluctuations in price which are larger than funds whose investments are only in bonds and/or cash.