ASK Investment Managers Limited (“ASK”), one of India’s largest asset and wealth management companies, announced the closure of the Golden Decade Fund.
The long only and close-ended category III alternative investment fund (AIF) achieved a milestone of 1,000 subscribers, 87% of the investors are Individual Resident Indians. The maximum subscriptions have come from Mumbai followed by investors from Delhi and NCR.
The fund focusses on spaces where stronger growth may sustain for longer on account of sustained value transfer such as new private sector banks, speciality chemicals, consumers, etc. To attract investments from HNIs (High Net Worth Individuals) and UHNIs (Ultra High Net Worth Individuals) for long-term and consistent wealth creation, ASK has limited the scheme’s term to four years without any restrictions of a lock-in period.
Speaking on the occasion, Mr. 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. It testifies to our consistent delivery of the investment objective of the fund and deep client engagement.”
Prateek Agrawal, Business Head and CIO, ASK Investing Managers, added, “We aspire to generate long-term returns for clients by investing in potentially high-growth sectors, which are likely to be India’s growth drivers in the coming years. These sectors offer substantial wealth creation opportunities for investors. We are confident that we will be successful in achieving capital preservation and appreciation over the long term.”
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. It is a part of the ASK Group, a leading player in the asset & wealth management business in India. ASK IM was one of the first companies to obtain a license for portfolio management services in India. It is the largest company in domestic discretionary listed equity Portfolio Management Services, excluding the FPI (foreign portfolio investment) and FPI others category, according to assets under management as of March 31, 2022. Among their many industry-first initiatives, they were the first Portfolio Management Company to set up operations in GIFT (Gujarat International Finance Tec) city for overseas investors. They have also launched India's first AIF with digital client onboarding; a paperless and easy-to-follow process.
About ASK Group | ASK is a leading player in the asset & wealth management business with a presence of over three decades. It primarily caters to the HNI and UHNI market. A true believer in the Indian growth story, it has grown on the strength of its relationships with its global clients. 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 services clients through 20 offices and branches across India, Dubai, and Singapore. 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 is managing assets over Rs. 78,900 crore as on May 31, 2022.