ASK launches India’s 1st digital AIF targeting Rs 1,000 crore

16 Aug 2021

ASK Investment Managers Ltd. (ASK IM), India’s largest Domestic PMS service provider, has unveiled a digital on-boarding for Alternate Investment Fund, the first of its kind in the industry.


The ASK Emerging Opportunities Fund, a close-ended Category-III long-only AIF, is a flexi cap portfolio with a midcap bias and will be investing in listed Indian equities, as per an ASK official statement.


With the Government of India’s focus on Atmanirbhar Bharat and PLI Schemes aimed at lowering dependence on imports and boosting exports, this fund aims to invest in beneficiaries of varied sectors including speciality chemicals, footwear, diagnostics, niche digital technologies, etc.


The term of the scheme is 7 years with 2 years of Lock-in from the Final Closing and will be targeting to raise investments from HNI and UHNI clients who are aiming for consistent wealth creation over long-term. The fund is targeting to raise Rs 1,000 crore.


The fund's entire process of opening accounts and documentation would be entirely paperless and hassle-free. The only pre-requisite being that the investor needs to be CKYC compliant.


Sunil Rohokale, MD & CEO, ASK Group said, “With traditional avenues of investing now giving single-digit returns, investors are looking to diversify their holdings and exploit opportunities from the pandemic-induced dislocations, such as rapid adoption of digital modes of business, and a call for self-sufficiency & self-reliance...As per recent SEBI data, AIFs saw commitments worth Rs.82,228 crore in FY21 from Institutions, family offices and high net-worth individuals who are looking to invest in such opportunities.”


Prateek Agrawal, Business Head & CIO, ASK IM said, these days, brands and companies are being evaluated and differentiated basis how effectively and efficiently technology is being used to provide best-in-class customer experience