ASK Investment Managers Targets Gujarat’s Growing Investor Base Amid India’s Economic Surge

Ahmedabad Emerges as a Strategic Hub with 18% CAGR Growth in ASK’s Assets Under Management

• Ahmedabad’s Mutual Fund AuM Grows at 16% CAGR Over 5 Years, Reaching ₹1.81 Lakh Crore : The city ranks as the 7th largest in India for Mutual Fund AuM, reflecting its rising prominence in the financial landscape.
• ASK’s AuM in Ahmedabad Sees Faster Growth at 18% CAGR, Now at ₹1,113 Crore :
  ASK’s focus on the Gujarat market has led to a significant increase in its assets under management, particularly in Portfolio Management Services.
• Strategic Focus on UHNI and HNI Segments to Deepen Market Penetration:
  ASK plans to leverage Gujarat’s business-savvy investor base, particularly in the UHNI and HNI segments, to drive further growth in the region.

BILKULONLINE

Ahmedabad, Aug 21: With India’s economy on the brink of multi-year growth, ASK Investment Managers (ASK) is poised to capitalize on the state’s expanding retail investor market. Speaking at an engaging media interaction in Ahmedabad, Sumit Jain, Deputy CIO of ASK, emphasized that while the market may appear to be quoting at a premium, it is supported by strong, sustainable, long-term growth prospects.

ASK Investment Managers, a Blackstone-backed leader in asset and wealth management, is now sharpening its focus on Gujarat, particularly Ahmedabad, which ranks as the 7th largest city in terms of Mutual Fund Assets under Management (AuM). The city’s AuM has grown at a compound annual growth rate (CAGR) of 16% over the past five years, reaching ₹1.81 lakh crore, according to AMFI data. ASK’s presence in Ahmedabad has expanded even more rapidly, with its AuM growing at an 18% CAGR to ₹1,113 crore over the same period.

Nimesh Mehta, Director and Head of Sales and Products at ASK, highlighted the strategic importance of Ahmedabad, noting that the city’s share in ASK’s Portfolio Management Services (PMS) AuM has risen from 3.43% to 4.19% over the last five years. “Ahmedabad is a crucial market for ASK Investment Managers,” Mehta stated. “The city’s business-savvy investors, particularly in the UHNI and HNI segments, have consistently driven growth, and we see significant potential to further deepen our engagement here.”

Addressing concerns about market volatility, Sumit Jain remarked that the current scenario is distinct from past periods of uncertainty. “This time, volatility in India is different—currencies remain relatively resilient, and both currency and equity markets are experiencing lower volatility. Today’s valuations are backed by strong earnings, superior margins, and improved balance sheets across stakeholders,” he explained.

ASK’s investment philosophy is rooted in identifying long-term opportunities in businesses with secular growth potential, particularly in sectors like manufacturing, automation, defense, energy transition, and discretionary consumption. The company, one of the first to secure a Portfolio Management Services license in India, continues to innovate with industry-first initiatives, including launching the country’s first AIF with digital onboarding and establishing operations in GIFT City to serve overseas investors.

With assets under management exceeding ₹83,000 crore as of July 31, 2024, ASK Investment Managers remains a dominant player in the asset and wealth management space, catering primarily to the HNI and UHNI segments. The firm’s diversified business portfolio spans Portfolio Management Services, Alternative Investment Funds, Real Estate Private Equity, Wealth Management, and more, serving a global clientele across multiple asset classes.

As ASK Investment Managers continues to grow hand-in-hand with its clients, its focus on Gujarat’s burgeoning investor base represents a key strategic move in its broader vision of harnessing India’s economic potential.