Kochi: Hedge Equities Ltd has entered into a partnership with Mumbai-based ASK Wealth Advisors to sell ASK’s high-end products like alternate investment funds, thematic portfolio management schemes and global funds in the Kerala market.
The products are catered for high-net-worth individuals (HNIs) and ultra HNIs with minimum investments above Rs 25 lakh. Alex K Babu, CMD, Hedge Group of Cos, and Prakash Bulusu, senior managing partner, head – south, ASK Wealth Advisors, on Wednesday signed the memorandum of understanding in this regard in Kochi.
“Kerala is estimated to have a strong capital base of more than Rs 6 trillion with bank deposits taking the lion’s share of the market. For the last 10 years, Hedge Equities have been trying hard to bring a cultural change from the traditional asset classes to equity and mutual fund investments. Post demonetization, we have seen a considerable shift in the mindset of Keralites and their willingness to learn and try new products is more visible,” said Alex. Started in 2007, ASK Wealth Advisors, the wealth advisory arm of ASK Group, is an independent company specializing in solutions for ultra HNIs and families, both residents and NRIs.
Speaking on the alliance, Prakash Bulusu, said, “There is a natural fitment between ASK Wealth Advisor and Hedge Equities since both of us focus on providing financial investment solutions tailored for HNIs and UHNIs among growing wealthy individuals.”
ASK Group is a leading player in the wealth and investment management business, and manages the wealth and investment needs of some of the most affluent families in the country.