Business Standard
AlphaGrep Investment Management is set to enter the mutual fund industry with the launch of its first scheme next month and is targeting assets under management (AUM) of Rs 25,000-30,000 crore over the next three to five years, a top company official said. The move comes after the company received approval from the Securities and Exchange Board of India (Sebi) to commence mutual fund operations. The company's maiden new fund offer (NFO) -- a multi-asset allocation fund -- will open for subscription on July 6 and close on July 20. The scheme will invest in equity and equity-related instruments, debt and money market instruments, as well as gold, silver and other permitted commodity exchange-traded funds (ETFs). "We are targeting an AUM of Rs 25,000-30,000 crore in the next three to five years," AlphaGrep Investment Management Chief Executive Officer Bhautik Ambani told PTI. He said the asset management company will focus on quantitative equity and hybrid strategies driven by advance
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