Friday, 21 October 2016
Last updated 12 hours ago
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.