Our Bureau Kochi-based Hedge Equities has entered into a partnership with ASK Wealth Advisors, Mumbai, for selling high-end products such as alternate investment funds, thematic portfolio management schemes and global funds in the Kerala market.

The products are aimed at HNI and ultra HNI clients with minimum investment of ₹25 lakh. The MoU in this regard was signed by Alex K Babu, CMD, Hedge Group of Companies, and Prakash Bulusu, Senior Managing Partner, Head South, ASK Wealth Advisors.

“Post demonetisation, we have been seeing a considerable shift in the mindset of Keralites to learn and try new products. In the three-year period, mutual fund investments from the State have surged to ₹25,000 crore from ₹11,000 crore. Our wealth management business had crossed ₹1,000 crore AUM this financial year. We believe that it is time to introduce new products like alternate investment funds, theme-based PMS and funds with global exposures in the Kerala market,” Alex K Babu, said.

Kerala is estimated to have a strong capital base of more than ₹6 trillion with bank deposits taking the lion’s share. For the last 10 years, Hedge Equities has been trying very hard to usher in a cultural change from the traditional asset classes to equity and mutual fund investments, he added.

According to Prakash Bulusu, ASK is one of the largest and oldest PMSes with a track record of 18 years. The group has ₹42,000 crore of AUM with a client base of 16,000. “In the 18 long years of track record, we have given a return of 20 per cent CAGR to clients,” he said.

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