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Last checked at 
24 Feb 2026 14:17
24 February 2026
LEI: 213800KX5ZS1NGAR2J89
Ashoka India Equity Investment Trust plc
(the "Company")
Directorate Changes
In line with its stated Director succession policy, and following a comprehensive, independently sourced selection process, the Company is pleased to announce the appointment of two independent non-executive directors to the Board and its committees. Sarah MacAulay joins with immediate effect and Karen Roydon will join with effect from 5 June 2026.
Sarah has over twenty years of fund management experience based in both London and Hong Kong, managing unit trusts and institutional assets. She is currently chairman of Schroder Asian Total Return Investment Company plc and a non-executive director of Bellevue Healthcare Trust plc and Baillie Gifford China Growth Trust plc. Sarah was formerly a director of Baring Asset Management (Asia) Ltd in Hong Kong, Asian Investment Manager at Kleinwort Benson Investment Management and Eagle Star in London.
Karen, a CFA Charterholder, is an experienced investment manager. She is currently a non-executive director of Scottish Oriental Smaller Companies Trust plc. She started her career at BlackRock and in 2006 moved to Genesis Investment Management, a long-only Emerging Markets equities specialist. During her seventeen years as a portfolio manager at Genesis, she focused primarily on investing in listed businesses in Asia across the full range of market capitalisations. Since 2020 Karen has also chaired the GenEM Foundation, which funds sustainable, long-term income generation opportunities for marginalised communities in developing countries.
Rita Dhut, who has served on the Board since the launch of the Company in July 2018, will retire from the Board on 30 June 2026.
As at the date of this announcement, Ms MacAulay holds 38,000 shares and Ms Roydon holds 7,783 shares in the Company.
Andrew Watkins, Chairman of the Company, said:
"I am delighted to welcome Sarah and Karen to the Board of Ashoka India Equity Investment Trust plc. Both have the necessary skills and experience to complement those of existing Directors and to help drive the Board's desire to ensure shareholders' best interests are maintained over future years.
I would also like to record my sincere thanks, and that of my fellow Directors, to Rita Dhut who retires from the Board on 30 June 2026. Rita has been with us from the very beginning in 2018 and her contribution and personal attributes have added a great deal to all Board discussions and decisions as the Company has grown significantly over the last eight years."
In accordance with the Listing Rules, no further information is required to be disclosed pursuant to UKLR 6.4.8.
Media Enquiries:
Laura Cronin
Lansons
Mobile: +44 207 294 3607
Email: ashokaindiainvestmentrust@lansons.com
NSM Funds (UK) Limited (Company Secretary)
Martin Darragh/Shilla Pindoria Email: ashoka@nsm.group
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