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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.