IPRO Growth Fund, our multi-strategy fund, was incepted in its open-ended form in December 2000. The fund started as a Mauritius long-only equity strategy, and local equities have still the largest weight in the portfolio, ranging between 50% and 70%.
During the last five years, a higher degree of diversification and liquidity for our investors has been sought through additional asset classes, such as international equities and local and international fixed income. Currency risk of non-Mauritian rupee holdings is left open. The fund is not benchmarked, though the Mauritius equity allocation is internally benchmarked against the SEM Total Return Index (SEMTRI).