Trust Group, based out of Mumbai, announced the launch of Athena Investments, which is a SEBI-registered Category III Alternative Investment Fund set up to provide alternative investment solutions to investors.
Athena Investments has launched their first scheme under the name of "STOCK CONVERTIBLE SCHEME (SCS)" today. SCS is an open-ended - absolute return focussed AIF that proposes to invest in listed equities through the use of equity derivatives. The fund has no lock-in and no exit load with a monthly exit option for investors. The objective of this fund is to generate absolute returns and provide a quarterly payout to investors which is better than fixed income.
SCS offers an optimum blend of risk, return, cash flows, and liquidity. It has two options, viz. quarterly payout scheme or growth scheme, to suit the need of investors.
The investment universe of SCS is ~ 100 large-cap companies. A filtration process will be followed to identify the best ideas to invest. Portfolio weights and positions will be actively managed.
Fundamental research is combined with a systematic investment approach via equity derivatives. The endeavor is to deliver high single-digit post-fee, post-tax returns.
The AIF is advised by an Advisory Committee which cumulatively has 100+ years of investing experience.
Investors with a time horizon of greater than 1 year can look at investing in this scheme. The fund aims to raise capital from resident and non-resident Indians, high-net-worth individuals (HNIs), banks, accredited investors, corporates, and trusts.
Vineet Bagri, the CEO, will manage Athena Investments AIF. He was the Managing Partner of Trust Plutus Wealth (India) Pvt Ltd and has over 23 years of experience across banks, NBFCs, and advisory.
At the launch, Bagri said, "Our goal is to create world-class investment products at competitive costs for investors in Indian markets. This is our goal, and we will develop and launch products under this aegis. The SCS is our first offering which brings an equity-derivatives-based stock convertible product to India. This is a popular offering in international markets. We believe that this will bring a differentiated and complementary alternative asset investment experience to investors. We are planning to raise Rs 1,000 Crores in the first year. This is an open-ended fund and we will be accepting subscriptions till we believe that the expected returns are not compromised due to investment velocity."
The fund's first offer period ended on 9th December 2022; now the fund will accept subscriptions every month, three days prior to monthly options expiry.
Fund: Stock Convertible Scheme
Nature of Fund: Category III AIF, Open ended fund
Custody & Fund Accounting: ICICI bank
Fund Manager: Prajana Advisors Private Limited
Sponsor: Trust Investment Advisors Private Limited (TIAPL)
Trustee: Axis Bank
Our Partners:
Brokers: ICICI Securities
Registrar & Transfer Agent: CAMS
Legal Counsel: IC Universal Legal (Ross Law Group, US)
Tax Consultant: EY, Ross Law Group
Auditor: R. Batliboi (Part of EY)
Vineet Bagri is the CEO and CIO of Athena Investments. He has 23 years of experience in the financial industry across banks, NBFCs, and advisory. He has handled diverse functions across credit underwriting, portfolio management, and product development. The Stock Convertible Scheme has been conceived and designed by Vineet, who is also running it since inception. Vineet is a Chartered Accountant with an All India Merit Rank.
Trust Group is one of India's leading full-service financial houses. With over two decades of experience, the group provides solutions & services across multiple asset classes, with leadership in the Fixed Income space. The group is known for its thought leadership, financial innovation, structuring expertise, and efficient execution of large-scale transactions.
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( With inputs from ANI )
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