ASK Investment launches long-term fund, seeks to raise Rs 1,500 cr

Category III AIF scheme has a term of four years and it will have no lock-in period

ASK Investment Managers has announced the launch of ‘ASK Golden Decade Fund’, a closed-ended, long-only, Category III AIF that aims to take advantage of the opportunities in India’s economy in the next decade.

The term of the scheme will be four years and there is no lock-in period. The fund aims to raise a total of Rs 1,500 crore (including a green-shoe option of Rs 750 crore).

The ASK Golden Decade Fund will be a confluence of Quality, Valuation, and Time: the three main drivers for compounding wealth that will be positioned to capitalize on the impending value migration opportunities in India. It is a pure bottom-up, buy and hold multi-cap strategy bias that will invest in select high-quality companies.

The fund’s objective is to achieve capital preservation and capital appreciation over the long term. The fund aims to invest and focus on the manufacturing industry and other key beneficiaries will include financials, consumer durables, IT, chemicals, pharma, and telecom in both public and private sectors.

“The Indian economy is expected to emerge as the strongest growing large economy in the world. While growth would aid most businesses in the country it would aid businesses experiencing strong multiyear tailwinds of value transfer on account of offshoring, China+1, move away from unorganised to organised sectors, etc. Golden Decade Fund seeks to invest into businesses which are experiencing favourable wave of value transfer,” said Prateek Agrawal, Business Head & CIO, ASK Investment Managers.