Jain Investment, a wealth management firm founded by IFA Vinod Jain, has decided to venture into the AIF space. In June this year, Jain Investment Advisors Trust has applied with SEBI to start a Category III long-only AIF.
Speaking about entering the AIF space Vinod Jain said, “This is in line with our constant drive to add more and more offerings to satisfy our customers.”
He added that initially the fund would cater to their own clients. Since the minimum investment by each investor should be Rs 1 crore in a Category III AIF, the fund would look for clients who have at least Rs 5 crore investable assets.
“We do not want our clients to allocate more than 20-25% of their assets. Clients with more than Rs 5 crore investable assets and having an investment horizon of 5 years should look to invest in this fund with the view to generate superior risk-adjusted returns,” Jain said.
At present, Jain Investment has more than 3000 clients with a mix of HNI and retail clients. The wealth management firm offers advice on mutual funds and insurance. The Jain Investment Advisors Portfolio Management Services (PMS) also offers multi-disciplinary funds.