Fund managers make switch to high-growth AIF industry
Source: Business Standard Nov 30, 2017
Marquee fund managers are making the switch from mutual funds to newly introduced alternative investment funds (AIFs), which are seeing a rapid growth in commitments thanks to a spike in the number of wealthy investors.
Last week, Franklin Templeton appointed S Naganath, chief investment officer (CIO) of rival DSP Blackrock, as head of its AIF division. Earlier this month, former head of equities of IDFC MF Kenneth Andrade, known for picking mid-cap winners, announced the launch of an AIF, eyeing to raise Rs 400 crore from rich investors.
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