Federated Kaufmann Fund's Lawrence Auriana and Hans Utsch, whose bets on the fastest-growing U.S. companies made them top-ranked managers over the past two decades, say India is the future.
They have 15 percent of the $11.5 billion mutual fund invested in Indian companies, including mortgage lender Housing Development Finance Corp. and wireless operator Bharti Airtel Ltd. That compares with a 1 percent allocation in Asia's emerging markets for the fund's competitors, according to data compiled by Chicago-based research firm Morningstar Inc.
``We're always looking for growth, and the growth right now is going on in India and China,'' Auriana said in an interview in his New York office. ``The valuations aren't as extreme in India as they are in China.''
Kaufmann Fund rose 21 percent in 2007, better than 87 percent of its peers that concentrate assets in midsize companies with above-average sales or earnings growth, data compiled by Bloomberg show. The fund has gained at annual rate of 15 percent since 1987, their first full year, ranking it No. 1 of 34 rival funds, according to Denver-based research firm Lipper....MORE
