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Mutual fund firms Mirae, Axis plan realty foray

Before joining Axis, he was managing director of Indic Capital Advisors, supervising the $630-million Sun Ares Real Estate Opportunity Fund

illustration: Ajay Mohanty
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Illustration: Ajay Mohanty

Raghavendra Kamath Mumbai
Mutual fund companies such as Mirae Asset Global Investments and Axis Asset Management are getting into real estate funds.

Mirae is looking to float a real estate fund through the alternative investment fund (AIF) route and invest in residential properties in metros and rental assets. 
 
It recently hired Puneet Bhatia (pictured) as director and head of strategy, investments, and asset management. He was executive vice-president at Edelweiss Finance before joining Mirae. Mirae has assets under management of more than Rs 150 billion.

“The fundamentals of real estate in India are strong and there is an opportunity to participate in structured finance with

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First Published: Feb 28 2018 | 11:55 PM IST

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