Edelweiss Wealth Management is targeting to raise Rs 1,000 crore from domestic investors for its maiden equity-focused alternate investment fund (AIF).
Over the next few months, it plans to go overseas for widening its asset under management pool through the AIF.
As per sources
“This is the first time that we are entering the equity side with an offering focused on long-term gains and will ensure that investors do not get worried about volitalities.”
It may go to foreign investors as well once it has raised up to Rs 3,000 crore. Currently, the company has Rs 1.70 lakh crore of assets under advice on an overall basis.
The minimum amount to be invested will be Rs 1 crore, and the company desires an investor to stay invested for at least one year for the best returns.
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