AlphaGrep Investment Management: AlphaGrep Investment Management is preparing to launch its first mutual fund scheme next month. The company aims to achieve assets under management (AUM) of Rs 25,000 to Rs 30,000 crore in the next three to five years.
The company has recently received approval from the Securities and Exchange Board of India (SEBI) to start mutual fund business. After this it is formally entering the Indian mutual fund industry.
The company’s chief executive officer (CEO) Prasad Ambani told PTI that its first new fund offering (NFO) scheme will be a multi-asset allocation fund, which will open for investors on July 6 and close on July 20.
The fund will invest in equity and equity-related instruments, bond and money markets as well as gold, silver and other permitted commodity exchange traded funds (ETFs).
“We are aiming to achieve an AUM of Rs 25,000-30,000 crore in the next three to five years,” Ambani said.
He said the company’s focus will be on ‘quantitative’ equity and hybrid investment strategies based on advanced mathematical models, artificial intelligence (AI) and machine learning.
After the multi-asset fund, the company is also preparing to launch an open-ended dynamic equity scheme, which will invest in large, medium and small stocks.
“We will always strive to bring products that can offer something different and unique to investors,” Ambani said.
Founded in 2010 by Mohit Muttreja and Prashant Mittal, AlphaGrip is a global ‘quantitative’ trading and investment firm. The company has more than 500 employees and has offices spread across eight countries.