Swiss wealth manager Julius Baer has raised over $167 million for its first proprietary India-focused equity fund. The fund's seed period ran from September 7 to September 21, 2023, according to Rahul Malhotra, a future member of the Swiss Wealth Management Group’s Executive Board in 2024.
The fund has attracted a global investor base, including non-resident Indian clients and North Asian and South Asian clients of Julius Baer. It focuses on large and mid-cap strategies and has invested 70% of the funds into an equity portfolio comprised of 20-30 securities of high-potential companies. Supervision of the fund is handled by Julius Baer's Mumbai-based advisory team.
Julius Baer's assets in India exceed $21 billion. The firm currently operates in seven Indian cities: Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Kolkata and Pune. However, it plans to expand its presence to over ten cities within the next three years.
As one of the top five wealth managers in India, Julius Baer aims to become the country's leading wealth manager by 2026. The company is "overweight" on India, indicating potential for more offshore offerings in the future.
Foreign Portfolio Investors (FPIs) have shown interest in Indian equities, which have delivered compound annual returns of 9%. Julius Baer is optimistic about India’s financials, IT, manufacturing, and consumption sectors. The launch of this India-focused equity fund aligns with a strategy that the firm outlined two years prior.
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