Mumbai: Shinsei AMC has scheduled its first equity fund, Shinsei Industry Leaders Fund, for launch on 27 July and plans to launch two more equity funds before March 2010, a senior company official said.
“We will launch our Shinsei Industry Leaders Fund on 27 July. This will be our first equity offering,” the company’s chief investment officer, N Sethuram Iyer, told the agency.
The fund-house plans to launch two more equity funds by end-this fiscal — the first in Q3 FY 10 and the second in the last quarter of FY 10, he said, without, however, revealing any details.
“These will be distinctive and the product ideas are presently being worked out,” he said.
Shinsei AMC had launched its first fund, Shinsei Liquid Fund, an open-ended liquid fund on 30 June. While Iyer would not reveal how much it had mopped up, a source close to the development said that it had collected around Rs350 crore.
It had plans to launch another fund — Shinsei PSU Bond Fund — but this has now been shelved.
“The yield differential was too heavy. We found that investors were now more concerned about returns than about the quality of the portfolio and hence, we shelved it,” Iyer said.
Shinsei AMC’s Industry Leaders Fund, which closes on 25 August will invest into companies that are leaders in their respective sectors.
The parameters that will be taken into account are their marketshares, sales growth and profitability over the last three years.
“It will be a blend of mid-cap and large-cap companies with large-caps accounting for 70-80% of the portfolio,” Iyer said.
The fund will be sector-and market-cap-agnostic and the company would identify three to five companies in 40 sectors. It will short-list 125 companies and from these build-up a portfolio of about 25-35 companies, Iyer said.
“We expect a good response from investors,” he said, without, again, revealing any target figure.