Sensex 27506.71 -57.95 (-0.21%)28-May-15 16:00
Nifty 8319 -15.6 (-0.19%)28-May-15 00:00
Kewal Handa, CEO, Third Eye Cinema Fund has over 30+ years of experience across finance, commercial strategy and business development functions across some credible names of the financial services industry.His educational Qualifications include Management Accountant and Company Secretary, senior MDP from IIM – A (Indian Institute of Management – Ahmedabad), Pfizer leadership development program from Harvard University and Marketing Strategy from Columbia Business School. Prior to TECF, Handa was the Managing Director of Pfizer Ltd from 2005 – 2012. He also served as a Managing Director of Wyeth India, a group company of Pfizer Ltd from 2009 – 2012. Under his leadership at Pfizer Ltd, the organization achieved a price appreciation of 77.8%. He was also associated with recognized players like HLL, Vidyut, SICOM and Schrader Scovill prior to Pfizer Ltd.
Third Eye Cinema Fund is a SEBI approved Alternative Investment Fund (category II). With its mini-studio concept, ThirdEye Cinema Fund (TECF) is set to offer unique exposure to the growing film industry and earn block buster returns for its investors. It would adopt a portfolio approach to ensure that the fund minimizes industry risk. Further, each venture would go through a structured approval process to ensure best investment ideas are selected. Stringent monitoring mechanism will be established for each investment.
Replying to Yash Ved of IIFL, Kewal Handa says "The fund is targeted at High Networth Individuals who are looking at diverse portfolio & are passionate about films & would be keen to be the part of the journey of the film making. "
When will Third Eye Cinema Fund be launched?
Third Eye Cinema Fund has already been approved by SEBI & all other regulatory approvals are also in place. We are in advance talks with key stakeholders to distribute & mobilize funds for investments.
What are your fund raising plans?
We are currently in talks with anchor investors & are expecting funds for investment. We have also tied-up with few of the distributors & will be tying up with few more key distributors in the days to come to ensure fund raising
Who is your target customer?
The fund is targeted at High Net worth Individuals who are looking at diverse portfolio & are passionate about films & would be keen to be the part of the journey of the film making. We are also offering a unique opportunity to our investors to understand the art & commercial aspects of films & be producers of the projects that we sponsor.
What growth do you see for the Indian film industry?
The Indian entertainment industry continues to grow at a faster pace than the Indian economy and the sub-sector, film entertainment, which generated revenues of approximately INR. 11,200 crores in 2012, is growing even faster. It is expected that by 2017 the film industry will generate revenues of approximately INR. 19,000 crores, representing a compounded annual growth rate of 11 per cent over the next 5 years. Increase in per capita income, marketing spend, corporatization, increasing access to finance, expansion of audience, growth of retail industry & multiplexes and digitalization will act as key drivers accelerating the growth which the industry intends to achieve
What returns do you expect in Third Eye Cinema Fund?
During the last 1 year (December 2012- December 2013), Indian film industry covering top 50 films has made substantial returns of 30-35% which is far beyond any asset class. Given the figures, we are expecting a modest return of 25%.