Kotak Mahindra is launching a Luxembourg-domiciled long/short fund aimed at taking advantage of growth in India.
The India Absolute Opportunities Fund is expected to launch at the end of October 2010.
Kotak fund manager R Rajagopal
The fund aims to participate in the growth of Indian equity markets through a long/short strategy and is managed by R Rajagopal and Ankur Agarwala, who are Singapore-based. The fund is an open ended UCITS III sub fund of a SICAV and its capacity is $100 million.
The minimum subscription for retail investors is $50,000 and the annual management fees are 2% of the net asset value.
For institutional investors the annual management fees are 1.5% and