Investment advisor Savart launched its maiden, flagship Portfolio Management Service (PMS), the Ad Astra Fund.

For the fund, Savart received investment commitments amounting to ₹31 crore on the launch day last week, and plans to achieve an AUM of ₹350 crore by end of FY24.

The features of the fund include an end-to-end research automation from investment opportunity discovery until exit i.e., the entire research and investment decision making is driven by their AI research system APART (Advanced Process Automation and Research Technology).

How APART functions

APART comprises three engines, namely Quant which is responsible for all quantitative and mathematical analysis of securities including profit and loss, balance sheet, cash flow statements and over 2,000 other parameters.

The second engine, Iris, interprets qualitative and abstract information like corporate governance, moat, sustainability, stakeholder relations, ethics and litigation while Synapse, the third engine functions similar to the nervous synapses of the human body, transmitting information between Quant and Iris, while making portfolio construction decisions including asset allocation, re-balancing and trade execution management, according to a release.

“Savart’s PMS marks a ground-breaking shift in the way we manage portfolios. While AI has become a hot topic at the moment, Savart has embraced its power since inception, initially for its investment advisory services and then for the enterprise division as well,’‘ Sankarsh Chanda, Founder and CEO, Savart said.

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