Indian Firm Launches Maiden Hedge Fund

Jun 21 2013 | 11:26am ET

India's Karvy Group has launched its first hedge fund, seeking almost US$17 million for the effort.

Karvy Capital's Systemic Edge Fund follows new hedge fund regulations promulgated in India last year; as of April, the Securities and Exchange Board had given the green light to 47 alternative investment funds, including Karvy's.

Systemic Edge is a multi-strategy absolute return fund, investing in equity and index futures and options. Karvy is seeking 1 billion rupees (US$16.7 million) for the fund.

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