Emkay Investment Managers (EIML) has launched Emkay Capital Builder Fund, an open-ended Category III long only AIF, which will invest in around 20-25 equity stocks across market capitalization.
EIML is aiming to raise Rs 500 crore from the latest AIF in the coming 6 to 8 months.
In the past, EIML has raised over Rs. 450 crore with the four previous series of its close ended AIFs and returned more than Rs. 740 crore (pre-tax) to the investors before the stipulated time.
EIML already has a portfolio management strategy under the name of Emkay Capital Builder PMS, which is similar to the AIF offering. About 60% of the PMS portfolio currently has stocks from the financial services, pharmaceuticals, and IT sector. Also, 70% of the strategy’s composition is in large-caps.
In a press release Sachin Shah, Executive Director & Fund Manager, Emkay Investment Managers said, “Emkay Capital Builder AIF caters to the growing preference for alternative investment funds as an investment avenue amongst ultra HNIs in India. Our bottom-up stock-picking strategy will help in formulating a winning AIF portfolio backed by the robust E-Qual model to mitigate risks related to management quality.”
Nagesh Pai, National Sales Head, Emkay Investment Managers said, “The total commitment amount in Category III AIFs has nearly tripled in the last three years and has also been the fastest growing category in the last year. High growth rate suggests increasing investor confidence in this category and EIML has a phenomenal track record of performance as far as Category III close-ended AIFs are concerned.”