ASK Investment Managers today announced the launch of ASK Emerging Opportunities Fund, a close-ended Category-III long-only alternative investment fund (AIF).
The statement said that it is India’s first digital alternative investment fund. “This will be first of its kind in the 9-year-old AIF industry to have the entire process of opening accounts and documentation paperless and hassle-free,” it said.
The fund is a flexi cap portfolio with a midcap bias and will be investing in listed Indian equities. It aims to invest in beneficiaries of varied sectors including speciality chemicals, footwear, diagnostics, and niche digital technologies.
The term of the scheme is 7 years with 2 years of lock-in from the final closing and will be targeting to raise investments from HNI and UHNI clients.
The fund is targeting to raise Rs 1,000 crore ($135 million).
“With traditional avenues of investing now giving single-digit returns, investors are looking to diversify their holdings and exploit opportunities from pandemic-induced dislocations, such as rapid adoption of digital modes of business, and a call for self-sufficiency and self-reliance. Many international companies are looking at a China plus one strategy and several Indian industries stand to benefit from this situation. As per recent SEBI data, AIFs saw commitments worth Rs 82,228 crore in FY21 from institutions, family offices and high net-worth individuals who are looking to invest in such opportunities,” said Sunil Rohokale, managing director and chief executive officer, ASK Group.
“These days, brands and companies are being evaluated and differentiated basis how effectively and efficiently technology is being used to provide best-in-class customer experience. As a PMS industry leader, we have been working passionately and tirelessly to digitise our customer centric processes to enhance customer experience,” said Prateek Agrawal, business head and chief investment officer, ASK Investment Managers.