ASK Investment Managers raises over ₹1,200 cr from Golden Decade Fund
Premium- The fund was launched in April and was described as a pure bottom-up, buy and hold multi-cap strategy fund that would invest in select high-quality companies.
ASK Investment Managers, one of India’s largest asset and wealth management companies, announced the closure of its Golden Decade Fund, a long only and close-ended category III alternative investment fund (AIF) that has raised over Rs. 1,200 crore.
The fund was launched in April and was described as a pure bottom-up, buy and hold multi-cap strategy fund that would invest in select high-quality companies. The fund’s objective is to achieve capital preservation and capital appreciation over the long term.
Going by the latest press release, the Golden Decade Fund attracted 1,000 subscribers, 87% of who are resident Indians. The maximum subscriptions came from Mumbai followed by Delhi and NCR. The fund focusses on segments where stronger growth may sustain for long such as new private sector banks, speciality chemicals, consumers, etc. To attract investments from high-net-worth individuals (HNIs) and ultra HNIs for long-term and consistent wealth creation, ASK Investment Managers has limited the scheme’s term to four years without any lock-in period.
Sunil Rohokale, MD & CEO at ASK Group said, “The Golden Decade Fund has received an immensely positive response and we continue to receive enquiries. Our strong research with disciplined investing during all market conditions and adaptation of digital technologies for a seamless, paper-free application have made HNI, UHNI, and family offices place their confidence in the fund despite volatile market conditions."
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ASK Investment Managers is part of the ASK Group, which is represented in India through its three key businesses - Portfolio Management Services & Alternative Investment Funds (ASK Investment Managers), Real Estate Private Equity (ASK Property Investment Advisors), and Wealth Advisory and Multi-Family Office Service (ASK Wealth Advisors). The ASK Group services clients through 20 offices and branches across India, Dubai, and Singapore.