Debt investor Vivriti Asset Management is targeting to increase its overall investment commitments to Rs 4,000 crore by March 2022 by launching more funds, a senior company official said on Tuesday.
The company's fund commitments stand at Rs 1,500 crore at present, which are spread across six alternative investment funds (AIFs), including two launched on Tuesday, dedicated to what it calls as investing in 'performing credit'.
"Right now, we have six funds which will go up to 11 by end of the financial year. In 2022-23, we will launch 15-20 more funds.
"We have raised Rs 1,550 crore so far, expect it to take to Rs 4,000 crore by March 2022 and double it to Rs 8,000 crore by March 2023," its chief executive Vineet Sukumar told reporters.
He said there is significant interest generated among family offices and high net worth individuals to take bets on its AIFs, which combine the strengths of a bank fixed deposit and a mutual fund investment.
Sukumar added that the sector agnostic fund's focus on quality and also the yields make it an attractive investment avenue. The company's funds have delivered yields between 8-16 per cent with low volatility and capital protection.
The performing credit space in India continues to be a massive untapped opportunity for predictable holding period and inflation-beating returns, its chief investment officer Soumendra Ghosh said.