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Emkay Emerging Stars Trust on Wednesday launched its first five-year closed-ended Category III alternative investment fund (AIF) and seeks to raise ₹200-300 crore from the scheme.
Emkay Emerging Stars Trust is sponsored by Emkay Global Financial Services and managed by Emkay Investment Managers Ltd (EIML).
The fund aims at generating long-term capital appreciation for investors with an investment horizon of five years in Indian equity. In the last four and half years, the fund management team of EIML has generated returns at CAGR of over 25 per cent.
The fund comes with a fund-raising commitment in the range of ₹200-300 crore.
The investment universe of the fund is the top 300-1,000 companies ranked by market capitalisation. These companies will have market capitalisation between ₹500 crore to ₹5,000 crore.
“We are pleased to announce the launch of our first AIF which is backed by our research expertise,” Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, told reporters.
“AIFs are at the cusp of significant evolution in India and with its diversification we see an attractive opportunity as a wealth creation asset for the high net worth individuals,” he added.
The fund will be targeting High Net worth Individals and Non-Resident Indians as the minimum investment one can have in the fund is ₹1 crore, he said, adding, through the fund, we are targeting over 200 investors.
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