Diversified financial company India Infoline today said it has received commitments of Rs 628 crore for an alternate investment fund (AIF).
In a statement, the company has claimed that the commitments of Rs 628 crore it has received for the IIFL Income Opportunities Fund is the country’s largest AIF fund raising till date.
An AIF invests in non—traditional assets that are not found in conventional investment portfolios.
The IIFL Income Opportunities Fund will invest in debt and debt—related instruments issued by ‘good corporate groups; secured against quality assets and are structured to provide periodic cash flows, the statement said.
IIFL Wealth Management’s chief executive and managing director Karan Bhagat said the management fees for the fund is among the lowest and added that unlike its peers, the company has decided not to charge a performance fees.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.