ASK Investment Managers Limited (“ASK”), one of India’s largest asset and wealth management companies announces the launch of ‘ASK Golden Decade Fund’, a closed-ended, long-only, Category III AIF that aims to take advantage of the structural opportunity that India’s economy is witnessing in the form of the next golden decade.
- ASK Golden Decade Fund is a Closed-ended, Long-only Category III Alternative Investment Fund
- Term of the Fund is 4 years (from date of Final Closing)
The ASK Golden Decade Fund will be a confluence of Quality, Valuation, and Time: the three main drivers for compounding wealth that will be positioned to capitalize on the impending value migration opportunities in India. It is a pure bottom-up, buy & hold multi-cap strategy bias that will invest in select high-quality companies. The fund’s objective is to achieve capital preservation and capital appreciation over the long term. The fund aims to invest and focus on the manufacturing industry and other key beneficiaries will include Financials, Consumer Durables, IT, Chemicals, Pharma, and Telecom in both Public and Private sectors.
The term of the scheme will be for 4 years and there is no lock-in period for this fund. With an aim to attract investments from HNIs and UHNIs for long-term and consistent wealth creation, the fund is targeting to raise a total of ₹1,500 crore (including a green-shoe option of Rs. 750 crore).
Speaking on the occasion, Mr. Sunil Rohokale – MD & CEO, ASK Group said, “The upcoming decade is likely to be India’s golden decade. It will be a period of structural growth led by the government’s focus on facilitating ease of doing business and partnering private enterprises to create value over the long term. Harnessing the power of newer technologies, reduction in cost of capital for startup ecosystem, data & payment revolution, manufacturing & infrastructure related changes will be the key parameters fueling India’s economic growth. At ASK, we identify and invest in quality equity opportunities for long-term growth. We take a disciplined and well-researched approach to identify these opportunities, and at the same time minimise risk, to create wealth for our clients.”
Mr. Prateek Agrawal, Business Head & CIO, ASK Investment Managers added, “The Indian economy is expected to emerge as the strongest growing large economy in the world. While growth would aid most businesses in the country it would aid businesses experiencing strong multiyear tailwinds of value transfer on account of offshoring, China+1, move away from un-organised to organised sectors, etc. Golden Decade Fund seeks to invest into businesses which are experiencing favourable wave of value transfer.”
About ASK Investment Managers Limited (ASK IM) : ASK Investment Managers Limited (ASK IM) is a leading asset and wealth management company, primarily catering to the HNI and UHNI market in India. ASK IM was one of the first companies to obtain a portfolio management services license in India and the largest company in Domestic Discretionary listed equity Portfolio Management Services (excluding the FPI and FPI Others category) according to assets under management as of March 31, 2022. Among their recent industry first initiatives, they were the first Portfolio Management Company to set up operations in GIFT city for overseas investors and have launched India’s first AIF with digital client onboarding; a paperless and easy-to-follow process.
About ASK Group: It is a leading player in the asset & wealth management business and primarily caters to the HNI and UHNI market with over three decades of presence. ASK has been a true believer in the Indian growth story and over the years has grown hand-in-hand with its clients across the globe. ASK is represented in India through its three key businesses: Portfolio Management Services & Alternative Investment Funds – ASK Investment Managers Ltd.; Real Estate Private Equity – ASK Property Investment Advisors; and Wealth Advisory and Multi-Family Office Service – ASK Wealth Advisors. It has 20 offices and branches across India, Dubai, and Singapore through which it services the needs of clients. It caters to multiple asset classes and investors (such as HNI, institutional, family office, pension funds, funds of funds and sovereign wealth funds) across Asia, the Middle East, Africa, and Europe. ASK group manages assets over Rs. 80,900 Cr as on March 31, 2022.
This article was shared with Prittle Prattle News as a Press Release.
