Sunil Singhania led Abakkus has announced temporarily closing subscriptions in Abakkus Emerging Opp. PMS approach during the month. In order to facilitate onboarding investors where the strategy is already proposed, the investment manager will be accepting applications received till October 22, 2021 for fresh subscriptions.
Abakkus Emerging Opportunities Strategy was launched in June 2019 (on AIF platform). In slightly over 2 years, the Abakkus Emerging Opportunities Fund-1 has now almost tripled while the benchmark is up 60-70 Percetage. The same strategy was launched on the PMS platform in August 2020. In almost a year, even this product has almost doubled.
"Despite this strong performance, it is heartening to share that the portfolios continue to trade in the mid-teens in terms of valuations as fundamentals continue to catch-up over the last few quarters. This gives us confidence in the portfolio construct and we continue to be optimistic on the broader markets over the medium to long term," Abakkus said.
In the PMS strategy, the target corpus raise was Rs 750 crore which the fund-house said it is about to reach.
"We would now like to temporarily close subscriptions in Abakkus Emerging Opportunities Approach PMS during the month. In order to facilitate onboarding investors where the strategy is already proposed, we will be accepting applications received till October 22, 2021 for fresh subscriptions," Abakkus said.