ASK Investment Managers unveils new PMS fund under special opportunities

ASK Investment Managers (ASK), part of the Blackstone-backed ASK Asset & Wealth Management group, announced the launch of its new equity PMS strategy— ASK Special Opportunities Portfolio.  The minimum investment ticket size of the ASK Special Opportunities Portfolio will be ₹50 lakh, and the company is targeting to raise ₹1,000 crore from this portfolio.  The minimum investment ticket size of the fund will be ₹50 lakh, and the firm is targeting to raise ₹1,000 crore from this portfolio. The portfolio strategy will be market-cap agnostic and free from sectoral limitations and comprise 15 to 30 stocks, with no single stock exceeding 10 per cent of the overall portfolio.

 

Gold plunges ₹1,800 to ₹95,050/10 gm 

Gold prices plunged ₹1,800 to ₹95,050 per 10 grams in the national capital on Thursday amid a decline in precious metal rates in the overseas markets, according to the All India Sarafa Association. The yellow metal of 99.5 per cent purity slumped ₹1,800 to ₹94,600 per 10 grams (inclusive of all taxes). Gold of 99.9 and 99.5 per cent purity had closed at ₹96,850 and ₹96,400 per 10 grams Wednesday.

 

Oil slips 3% to trade below $64 a barrel 

Oil prices fell by about $2 on Thursday on expectations for a US-Iran nuclear deal that could result in sanctions easing, while a build in US crude oil inventories last week heigh­tened investor concerns about oversupply. Brent crude futures were down $1.99, or 3 per cent, to $64.10 a barrel at 0806 GMT US West Texas Intermediate (WTI) crude futures were down $2.05, or 3.3 per cent, to touch $61.10.