Karvy targets Rs. 1bn with maiden hedge fund

India Infoline News Service | Mumbai |

The fund is called ‘Systematic Edge Fund’ and will be open-ended

Hyderabad-based Karvy Group has launched its first hedge fund, and aims to collect Rs. 1 billion from a mix of high net worth individuals and institutions.

The fund is called ‘Systematic Edge Fund’ and will be open-ended, which means that investors would be free to move in and out of the fund unlike closed-ended funds, which lock in investments for a set period.

The fund will look to generate positive returns, irrespective of the market conditions, through use of multiple strategies, which will also make use of derivative instruments that make money by betting on market direction, according to a press release.

The fund has been launched under the Securities and Exchange Board of India’s alternative investment funds regulations, which first created a framework for regulating hedge funds in March 2012.



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