The Hindu Business Line : ASK Raymond unveils infrastructure portfolio

PORTFOLIO management services (PMS) provider ASK Raymond James Securities has launched a service aimed at individuals and corporates which can participate through the discretionary PMS offered by the company.

The PMS, named Lighthouse Infrastructure Portfolio, will seek to mirror India's economic growth by participating in infrastructure and infrastructure-related businesses. The aim is to identify opportunities in the sectors that offer long-term growth potential with sustainable returns, a press release by the company has said.

The past two years have demonstrated international investors' appetite for Indian stocks, the release quoting Mr Bharat Shah, CEO and Managing Partner of ASK Raymond James Securities, has said.

Lighthouse Infrastructure Portfolio will mainly participate in quality, undervalued businesses. The idea is to tone down risk and provide superior returns by choosing companies that take advantage of Government spending in areas such as education and healthcare.

The key, however, is to identify businesses that cater to the creation of physical infrastructure.

ASK Raymond James currently provides investment advisory services to India-dedicated offshore funds targeted at FIIs and NRIs. These include India Value Investments.

Also, India Emerging Opportunities Fund (which is set up as a company in Mauritius) is registered as a foreign corporate sub-account of Heritage Asset Management. The latter is a subsidiary of the US-based Raymond James Financial.

ASK Raymond James Securities has been appointed the investment advisor to the fund.

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