Pune: Edelweiss Personal Wealth Advisory (EPWA), the wealth management and broking arm of the Edelweiss Group, one of India’s leading diversified financial services, today announced the offer of a new Alternative Investment Fund viz. Edelweiss Crossover Opportunities Fund - Series II (“Crossover Fund”). This is a unique fund designed for HNIs that offers alternative investment avenues beyond the traditional options to invest and grow their wealth. The Crossover Fund offers a good opportunity for the growing HNI community of investing in the adjacent market of Pre IPO which is primarily meant for Institutional investors.
Pune is an important market for the company given the exponential increase in the number of HNIs that the city has witnessed. EPWA will partner with clients and offer them technology driven, customized investment solutions to help them in wealth creation.
A wealth report by JLL in 2015 states that, Pune ranks 7th amongst the top 20 fastest growing cities for HNIs in Asia. Also the City Momentum Index 2018, an annual global report by JLL that ranks cities basis their demographic and economic growth, has ranked Pune at #4 among the top 30 global short-term growth cities.
EPWA has a highly trained and specialized team of over 600 advisors who engage with clients. It has close to 70 offices across the country. EPWA is dedicated to empowering individuals and allowing them to make financial investments in an informed manner by leveraging its digital platform as well as its in-depth cross sectoral research data and insights platforms. The firm understands the financial needs of its customers and recommends a simplified approach to investing across asset classes like equity, derivatives, IPOs, currencies, MFs, gold ETFs etc. EPWA’s mobile trading app has seen 129% increase in the number of customers trading in Apps over FY17. In terms of volumes, it has increased from 38325 users in FY17 to 87752 users in FY18.
Seemant Shukla, Senior Vice President, Edelweiss Personal Wealth Advisory said that, “We believe that Pune will continue to develop as a key market for investors looking to capitalize on the India growth story. We are committed to partner with our clients in every part of their growth journey. Pune being a digital city, we have seen a 100% jump in the usage of our mobile trading app (EMT app) in the last one year. EMT is one of the highest rated mobile apps on Google play store.”
Mr. Pranav Parikh who leads the investment team of the Crossover Fund stated, “The investment philosophy of the Fund is centered on picking fundamentally strong companies based on secular growth themes that transcend market cycles, and observing high discipline in doing so. The Fund, through its investments, also endeavors to provide solutions to capital structure situations that companies tend to face in their preparation for accessing public markets in near future.”
The Crossover Fund is Category II AIF which aims to invest in companies that are at a “crossover” point of going from unlisted to listed in the near term. The strategy is to invest in companies that provide such crossover opportunities having visibility of accessing public markets. The IPO market activity has been at its peak and companies from a wide range of sectors intend to go public in the near term, opening up new investment opportunities for investors.
The Investment Philosophy of this fund is to focus on selecting companies with fundamentally strong building blocks, and high potential to crossover to higher orbits in