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Carnelian Asset Management and Advisors launches Bharat AmritKaal Fund, to raise Rs 5,000 crore

ISN Team
New Update
indian currency

Carnelian Asset Management and Advisors recently unveiled the Carnelian Bharat Amritkaal Fund, a Category III Alternative Investment Fund (AIF) with a goal of raising Rs 5,000 crore or nearly $600 million. 

The fund is specifically designed for High-Net-Worth Individuals (HNIs), Ultra-High-Net-Worth Individuals (UHNIs), and family offices, and it features a minimum investment threshold of Rs 5 crore. 

Khemani highlights India's goal to become a developed nation 

Vikas Khemani, the founder of Carnelian Asset Managers and Advisors, highlighted the unique investment opportunity presented by India's trajectory towards becoming a developed nation by 2047. 


“As India progresses towards becoming a developed nation by 2047 with a projected GDP of $ 29 trillion, investing in India presents a once-in-lifetime opportunity akin to the Japanese Economic Miracle. Anticipating a stable rupee and robust growth, India is set to attract substantial domestic and foreign investments, positioning itself as one of the fastest-growing large economies," Khemani said.

Focused on leveraging India's exponential growth  

The Carnelian Bharat Amritkaal Fund aims to leverage India's exponential growth by investing in high-growth companies across various sectors, including Banking, Financial Services, Insurance (BFSI), Manufacturing, Consumption, Services Exports, and Infrastructure. 

With a concentrated portfolio of 25-30 select stocks, the fund seeks to identify and capitalize on early opportunities within these key "megatrends," aligning with India's evolving economic landscape.

The fund, which will be benchmarked against the S&P BSE 500 index, sets a clear performance target, providing a structured approach to measuring its success in capturing the growth of the Indian economy. 

Notably, benchmarking is integral to the fund's strategy, offering investors a transparent and objective metric for evaluating its performance relative to the broader market.