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Emkay Investment Managers today launched its maiden Alternative Investment Fund (category III) called Emkay Emerging Stars Fund.
The fund has been sponsored by Emkay Global Financial Services, which will be investing Rs 10 crore in the fund.
It is a five-year closed-ended fund with a lock-in period of five years and will raise a maximum Rs 300 crore. It will invest in small and mid-cap companies having a market capitalisation between Rs 500-5,000 crore. In other words, the fund would be investing in companies ranging from 300 to 1000 ranked in terms of market capitalisation.
The fund will have a minimum of 10 and maximum 25-30 companies in its portfolio.
"Emkay has a rich experience of more than 25 years in equity research and advisory. The benefit of all that will go into this product," said Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services.
He will be the chief advisor to the fund.
Sachin Shah, fund manager, Emkay Investment Managers, will also be investing in his personal capacity. He finds opportunities in automobiles (including ancillary), defence and railways, among others.
The fund will be terminated and money will be returned to investors if the fund makes a gain of 300 per cent anytime in the five-year period. In the last four-and-half years, the fund management team of Emkay Investment Managers has generated a compounded annual return of 25 per cent.
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