Sundaram Alternates has launched Atlas - a diversified multi-sector Category III AIF that will invest across market capitalization.
The fund is Sundaram Alternates’ maiden fund in the open-ended Category III space and is looking at longer investment horizons with appreciation opportunities for 4+ years.
Atlas is open for subscription to domestic and international investors.
In a press release, Sunil Subramaniam, Managing Director, Sundaram Mutual said, “The four themes the fund will play show good potential. On discretionary consumption, we expect this summer will be a comeback for consumer durables. We are bullish on private sector banks and other financial services (wealth management, asset management, insurance) in BFSI. IT continues to be a core part of organizational decisions and India is increasingly exporting IT services to the rest of the world, as well as manufactured goods. Traditional companies adopting IT to stay ahead of the curve have an edge over other smaller players.”
Vijayendiran R, CEO, Sundaram Alternates said, “In a growing country like India, every stage of economic development, provides investment opportunities. We are currently in a sweet spot. China + 1 has global brands looking to outsource - climate control initiatives and a rise in anti-dumping duties are moving businesses from China to India, not to mention the government’s PLI initiatives are proving lucrative for businesses. Increasing capex will further boost the economy by creating jobs, increasing output and generating income – contributing to economic growth. A multi cap, multi sector fund is well poised to take advantage of these opportunities, and we believe the time is right for Atlas.”