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Hedge Equities ties up with ASK Wealth Advisors – Economic Times

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Kochi: Hedge Equities Ltd., has entered into a partnership with Mumbai-based ASK Wealth Advisors, wealth advisory arm of ASK Group, for selling the latter’s high-end products like alternate investment funds, thematic portfolio management schemes and global funds, among others in the Kerala market. The products are catered for high networth individuals (HNI) and Ultra HNI clients with minimum investments above Rs 1 crore.

“Kerala is estimated to have a strong capital base of more than 6 trillion rupees with bank deposits taking the lion’s share of the market. Post demonetization, we have been seeing a considerable shift in the mindset of Keralites and their willingness to learn and try new products is more visible. Our wealth management business had crossed 1000 crore assets under management this financial year. We believe that it’s time to introduce new products like alternate investment funds, theme-based PMS and funds with global exposures in the Kerala market, ‘’ said Alex K Babu, CMD of Hedge group of companies.

He said the amount invested in equity mutual funds in Kerala has jumped to Rs 25,000 crore from Rs 10,000 crore in the last few years.

According to Prakash Bulusu, senior managing partner and head south of ASK Wealth Advisors the Indian growth story is strong from the long term perspective. “ India will continue to grow irrespective who comes to power after the elections,’’ he said. ASK and Hedge have a synergy in providing financial investment solutions tailored for HNIs, he added.

ASK group has Rs 42000 crore of assets under management with 1600 clients and 12 offices.