Sundaram Alternates, a fully-owned subsidiary of Sundaram Asset Management Company, on Monday announced the launch of Atlas, a diversified multi-sector Category III Alternative Investment Fund (AIF), that will invest across the cap curve.
Sundaram Alternates’ maiden fund in the open-ended Category III space is looking at longer investment horizons with appreciation opportunities for 4-plus years. Atlas is open for subscription to domestic and international investors.
AIF is a privately pooled investment vehicle that collects money from sophisticated private investors and invests it with a defined investment policy. AIF has three categories of investment. Category III focuses on earning short-term returns through diverse or complex trading strategies. It includes hedge funds and private investment in public equity funds (PIPE).
Atlas will focus on structural equity and cyclical value opportunities, and predominantly play four themes - Capex ‘Maestros’ - businesses that have clear multi-year capex plans and have identified profitable opportunities to grow; Phygital Bluechips - traditional businesses adopting technology to gain market share, particularly in retail and BFSI; Consumption Czars - underpriced mid- and small-caps in areas of discretionary consumption and consumer durables; and Export Voyagers - Global goods and service providers with a Make in India, Sell in the World positioning.
Sunil Subramaniam, Managing Director, Sundaram Mutual said, the four themes show good potential.
“In a growing country like India, every stage of economic development provides investment opportunities. We are currently in a sweet spot. A multi-cap, multi-sector fund is well poised to take advantage of these opportunities, and we believe the time is right for Atlas,” Vijayendiran R, Chief Executive Officer, Sundaram Alternates said, in the release.