Axis AMC raises Rs. 4 billion for its maiden real estate fund - Axis RERA Opportunities Fund – I (‘Axis RERA Fund’)
Axis
AMC raises Rs. 4 billion for its maiden real estate fund - Axis RERA
Opportunities Fund – I (‘Axis RERA Fund’)
Axis AMC is pleased to announce thefinal
closing of its maiden real estate fund, theAxis RERA Opportunities Fund – I
(‘Axis RERA Fund’)with commitments of over Rs. 4 billion.The investors include
domestic institutions, HNIs and the sponsor (Axis AMC).The fund is targeting
investments (through structured debt route) in the top 8 cities of India and
aims to work with developers with an established track record of delivery and
who show potential and capability for future growth.
With respect to the successful close,Mr. Balaji Rao, Managing Partner – Real
Estate, Axis AMC said, “The real estate market has seen trying times over
the last few months. Developers have had to navigate through a liquidity crunch
and a paradigm change in their business models, brought about by the
implementation of GST and RERA. However, this also means that this is the
opportune moment for value investors to identify and back those real estate
players with strong systems and strategies, who can deliver results in these
new conditions. Real estate business in India has changed, and we are looking
to work with developers who can adapt to it.”
We believe real estate is an importantasset
class for investors. The demand for mid-income and affordable housing will likely
continue to rise, backed by strong support from the government (through
initiatives like RERA, PMAY, Housing for allby 2022 etc.)In addition,
increasing per capita income, and the growing aspirational demand of the
mid-market segment is further fuelling a potential boom in this sector,
creating anewopportunity for investors.
Mr. Ujjawal Punmiya
AVP – Public Relations& Corporate
Communications
M: +91 9619130947
About Axis AMC: Axis AMC is one of India`s fastest growing
assets managers offering a comprehensive bouquet of asset management products
across mutual funds, portfolio management services and alternative investments.
The AMC is backed by Axis Bank, one of India`s premier banking institutions and
Schroders plc, one of the world`s largest asset managers based in the UK
Disclaimer:Past performance of the Fund Manager or AMC
may not be indicative of the performance in the future. This document is for
informational purposes only and should not be regarded as an offer to sell or
as a solicitation of an offer to buy the securities or other investments
mentioned in it. Investors are not being offered any guaranteed or indicative
returns through these services. The contents of this document should not be
treated as advice relating to investment, legal or taxation matters. The
material is prepared for general communication and should not be treated as
research report.
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