Check Free CIBIL Score Online

Edelweiss Group to Take Over Ambit Alpha Fund

Edelweiss Group Take over Ambit Alpha Fund

Edelweiss Financial Financial Services Ltd is all set to take over Ambit Alpha Fund, the flagship hedge fund of Ambit Investment Advisors, with an Asset Under Management (AUM) of more than Rs 1,100 crore, as per the statement. However, the size of the deal is yet to be disclosed. The transaction, which will come into effect after due diligence and necessary regulatory approvals, would see Edelweiss take the role of a new investment manager of Ambit Alpha Fund. The acquisition marks the second such transaction by Edelweiss Group in the recent times. The group had in March this year announced the takeover of onshore mutual fund business of global financial services giant JP Morgan in India with assets valued at more than Rs 7,000 crore.

How Will Acquisition Benefit the Companies?

The acquisition would enable Edelweiss Group to enhance its Rs 35,000 crore global asset management business, including the company’s existing mutual funds, multi-strategy funds, alternative asset management and asset reconstruction. The growth of the business registered a growth of more than 40% compared to last year. Ambit Group Chief Executive Officer Ashok Wadhwa said, “we have decided to divest Ambit Alpha Fund, and believe that the interest of the investors will be best served under a larger and well established asset management platform”. Executive Director and Co-head of Edelweiss Global Asset Management Venkat Ramaswamy expressed that Ambit Alpha Fund has complimentary offerings in the alternative investment fund business.

People Also Look For

People Also Look For  SBI to levy a charge of ₹100 on cheque payments on SBI credit cards

Covered For Life
Personal Loan Interest Rates January 2022
Fullerton India14.00% - 24.00%
HDFC Bank10.25% - 17.00%
ICICI Bank10.50% - 17.50%
IndusInd Bank11.00% - 23.00%
Kotak Bank10.75%
RBL17.50% - 26.00%
Standard Chartered Bank11.00% - 12.50%
Tata Capital10.49% - 14.25%
Home Loan Interest Rates January 2022
Axis Bank6.75% - 7.20%
Bank of Baroda6.75% - 8.25%
Citibank6.65% - 7.40%
HDFC6.70% - 8.00%
ICICI Bank6.70% - 7.55%
Indiabulls Housing Finance Limited8.65%
Kotak Bank6.55% - 7.10%
LIC Housing6.66% - 7.90%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance6.99% - 8.90%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI6.70% - 6.90%
Tata Capital6.90% - 8.75%