Prudent Equity announces launch of maiden fund
- ByStartupStory | December 23, 2022
Gurugram-based wealth management firm Prudent Equity has announced the launch of its maiden fund, aiming to raise upwards of Rs 500 crore over a tenure of one year.
“We have already raised Rs 125 crore for our open-ended fund as of now. We hope to raise Rs 500 crore in CY23,” Siddharth Oberoi, founder and chief executive officer of Prudent Equity said.
Ace, a category-III alternative investment fund, will be sector-agnostic and will concentrate on small and mid-cap companies with different themes. According to the business, the fund’s investment characteristics will include conservative capital allocation, a margin of safety, and good corporate governance requirements.
“Basically, equities in the listed space will be our target of investment. The model that we will follow is first identifying the intrinsic value of the company and then buying it at a substantial discount to the value. We believe we have an opportunistic investment approach that offers a rational approach to building wealth. The goal is to buy those stocks that increase capital at high rates over long periods while employing less risk,” Oberoi added.
Prudent Equity, founded in 2012, provides equity investment advice to individuals, family offices, high net-worth individuals (HNIs), and corporations.
“Consumerism is at a peak in India. Due to the One-China policy, many countries have adopted to other sources and that has helped India. Also, the energy crisis in Europe has led to a shift in manufacturing in India. All these are propelling high consumption in India,” Oberoi said.
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