Vikas Khemani’s Carnelian Asset Management launches Bharat Amritkaal Fund; to raise Rs 5,000 cr

The fund is benchmarked against the S&P BSE 500 index

Carnelian Asset Management and Advisors launched the Carnelian Bharat Amritkaal Fund, a long-only Category III Alternative Investment Fund (AIF) on March 21. With a minimum ticket size of Rs 5 crore, the fund targets a raise of about Rs 5,000 crore from High-Net-Worth Individuals (HNIs), Ultra High Net Worth Individuals (UHNIs), and family offices.

“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 stable INR and robust growth, India is set to attract substantial domestic and foreign investments,” said Vikas Khemani, Founder of Carnelian Asset Managers and Advisors.

“By 2035, India’s market capitalisation is likely to touch $18-20 trillion and Nifty between 90,000-1,00,000. Empowering investors to ride India’s exponential growth wave, the Carnelian Bharat Amritkaal Fund offers a strategic avenue to capitalize on India’s exponential growth story,” Khemani added.

The fund is benchmarked against the S&P BSE 500 index. The Carnelian Bharat Amritkaal Fund focuses on high-growth companies poised to benefit from key “megatrends” across sectors such as Banking, Financial Services, Insurance (BFSI), Manufacturing, Consumption, Services Exports, and Infrastructure. It aims to identify opportunities early on, aligning with the evolving landscape of India's economy with a concentrated portfolio comprising 25-30 select stocks.