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Emkay Investment Managers on Wednesday 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 ₹10 crore in the fund.
The fund is a five-year close-ended fund with a lock-in period of five years and will raise a maximum ₹300 crore. It will invest in small- and mid-cap companies having a market capitalisation between ₹500-5,000 crore. In other words, the fund would be investing in companies with a ranking between 300 and 1,000 in terms of market capitalisation.
The fund will have minimum 10 and maximum 25-30 companies in its portfolio.
“Emkay has 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 Mnagers, will also be investing in his personal capacity. He finds opportunities in automobiles (including ancillary), defence and railways, among others.
300% returnThe fund will be terminated and money will be returned to investors if the fund makes gain of 300 per cent any time in the five-year period.
In the last four and half years, the fund management team of Emkay Investment Managers has generated compounded annual return of 25 per cent.
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