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ASK Capital, part of ASK Group (“ASK”) - one of India’s leading asset and wealth management companies, announced that they’ve received authorization from the Central Bank of Ireland for their first UCITS vehicle – ASK Indian Entrepreneur Fund. The UCITS vehicle will be modeled on ASK’s flagship PMS, ASK Indian Entrepreneur Portfolio (“IEP”) which has a strong track record of over a decade, since inception.

UCITS, or Undertakings for Collective Investment in Transferable Securities, is a regulatory framework of the European Commission that creates a harmonized regime throughout Europe for the management and sale of funds. UCITS funds can be registered in Europe and sold to investors worldwide using unified regulatory and investor protection requirements. Given the intense regulatory process to have a fund approved as UCITS compliant by a regulator, the UCITS label serves as a stamp of quality and reliability for overseas investors.

ASK is using the UCITS vehicle to bring the IEP strategy to a wider international investor base and aims to raise US$ 500 mn over the next 3 years for this fund.  

IEP is one of the most consistent alpha-generating strategies since its launch in 2010. It invests in companies led by Indian entrepreneurs with adequate skin in the game, high standards of governance, vision, execution, capital allocation, and capital distribution skills. The underlying ASK IEP Fund has a CAGR of 18% ** since inception whereas its benchmark, BSE 500 CAGR is 10.7%.

Speaking on the occasion, Sunil Rohokale, MD & CEO, ASK Group, said, “India's economy and equity markets are outperforming most of their global peers.  The case for stand-alone India allocation has never been stronger and global investors are eager to access India’s growth story with the right asset managers.  India’s demographic dividend, manufacturing prowess and advanced digital infrastructure offer a compelling investment opportunity to long-term global investors. ASK is well positioned as an India specialist manager with a consistent track record of alpha generation and this UCITS fund will make it easier for overseas investors, especially European investors, to invest in India.”     

Sameer Dev, CEO, ASK Capital, further added, “ASK’s Ireland domiciled UCITS Fund provides global investors with a familiar, tax efficient, and convenient access to the high growth Indian equity markets. With UCTIS approval in place, we hope to reach out to institutional investors, endowments, pension funds, family offices, and investors via private banks across Europe, Middle East, Latin America, and parts of Asia. The ASK India Entrepreneur Fund offers such global investors an opportunity to participate in the India story by investing in some of the fastest growing and well-run companies, through an actively managed investment strategy.”

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