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Equity Intelligence, the leading portfolio manager, has received a SEBI licence to launch a Category III AIF (Alternate Investment Fund), which is broadly the Indian equivalent of hedge funds abroad.
The EQ India Fund will focus on turnaround stories and emerging opportunities from India’s fast-changing economic profile. AIF can invest in listed or unlisted companies and derivatives, said Porinju Veliyath, Managing Director and Portfolio Manager.
The company targets to collect ₹200-300 crore in the next two months under the new fund, he said, adding that it also provides fund managers the freedom to pool funds and employ diverse investment strategies, use leverage, subscribe to preferential allotment and institutional placements. According to SEBI guidelines, the minimum investment under AIF is ₹1 crore.
Going forward, AIF will be the fancied medium for HNIs to invest in equities. In fact, it can grow much bigger than mutual funds, he said.
Meanwhile, the company has achieved the milestone of ₹1,000 crore in Assets Under Management. With a customer base of 1,350 investors, the company has delivered 32.76 per cent to investors for 14 years on an average, he said.
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