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ASK Private Wealth has launched Cat III AIF - ASK Wealth Advisors (ASKWA) India Opportunities Fund in the GIFT city’s IFSC.
The fund is structured as a fund of fund dedicated to India-focused investments.
The fund aims to target NRIs and overseas citizens other than residents of US and Canada.
In a press release, Rajesh Saluja, CEO & MD, ASK Private Wealth, said, "The Indian capital markets have been among the more resilient ones among major markets, even in the face of global tailwinds, on the back of the fast-growing economy. The fund provides an opportunity for NRIs and OCIs to participate in the India growth story through a well- diversified, expertly managed platform that aligns with their investment goals and helps them diversify their portfolio."
Somnath Mukherjee, CIO & Senior Managing Partner, ASK Private Wealth, added, "Till now, portfolio investments would typically get aggregated in international financial centres like Singapore, Hong Kong and Mauritius. With GIFT City offering a compelling and world-class proposition, ASKWA is proud to bring a multi-manager equity vehicle for offshore investors looking to invest in India. The structure enables investors to access multiple investing styles through multiple managers - all threaded together by our unique ability to curate, evaluate, and structure innovative solutions for investors."