The fund will invest in Indian mid-cap companies.
Motilal Oswal Mutual Fund has launched an offshore fund called India Zen Fund through its Mauritius based company Motilal Oswal Asset Management (Mauritius), said a press release issued by the company.
India Zen Fund is an equity fund that will invest in Indian mid-cap securities. The fund will follow bottom up approach for stock selection. On the investment strategy, the press release said that the fund would invest in companies with enduring economic moats having a market capitalization between USD 100 million to 3.5 billion. The fund will construct a concentrated portfolio (maximum 20 stocks) with a buy and hold strategy.
Earlier in 2007, Motilal Oswal had launched a dedicated mid cap strategy under its Portfolio Management Services. The scheme had delivered 38.4% (USD) annualized returns for the trailing 3 years (net of fees and expenses), said the press release.
In the press release, the company said, “With the given track record, the investment and the ideal opportunity of going global with our proprietary investment philosophy, the focus is now to nurture and promote India Zen Fund to global institutional investors. The fund is targeted towards global institutional investors like pension funds, endowments, family offices that are looking for steady returns over a longer period of time in order to create wealth consistently for their end investors.”
