Kotak Mahindra Bank Raises Rs 2,000 Cr for Equity Investments

Mumbai, Apr 8 (PTI) Kotak Mahindra Bank's asset management arm Kotak Alternate Asset Managers Ltd on Monday said it raised Rs 2,000 crore to invest in equities.

Kotak Alternate Asset Managers' 'Iconic Fund' is a Sebi-registered category III Alternative Investment Fund (AIF) and an open-ended platform conceptualised as an equity multi-advisor portfolio solution, according to a company statement.

The fund aims to solve the challenge of building and maintaining equity portfolios amid the difficulties faced by investors due to the market volatalities.

"The fund's team of seasoned professionals consistently identifies investment strategies that align with the fund's investment objective," Kotak Alt's chief executive for investments and strategy Lakshmi Iyer said.

The team at the fund does rigorous research and adopts a disciplined approach along with risk management practices, Kotak Alts' head of discretionary portfolio solutions Nishant Kumar said.

The Iconic Fund can accept inflows from five offshore jurisdictions, including the US, UK, Singapore, DIFC and Hong Kong, it said.