Thu, 22/10/2009 - 06:30
Asian hedge fund manager PMA Capital Management has launched the PMA India Fund, which focuses on alpha generation from long and short positioning in the top 250 Indian companies.
The fund uses a mix of qualitative and quantitative processes that combines a top-down discipline with bottom-up analysis.
The investment universe enables the fund to maintain a highly liquid profile since it is estimated to represent 90 per cent of overall market capitalization and 85 per cent of daily turnover.
The PMA India Fund will be managed by Anoop Villait, who heads the PMA India strategy and has over 15 years of experience in the Indian markets, as well as an extensive contact base with Indian corporates and foreign banks.
Villait says: “I have been an admirer of the industry-leading institutional platform that PMA has developed and am eager to bring my Indian equity investment experience to the team and our investors. It is a great time to introduce this fund as the Indian market has inefficiencies that we aim to exploit to deliver absolute returns for our investors.”
Investors can also achieve exposure to the PMA India Fund by investing in the multi-strategy PMA Asian Opportunities Fund, which directly invests into PMA single strategy funds and also incubates new strategies. The Asian Opportunities Fund provides broad pan-Asian exposure via liquid asset classes including credit, equity long/short, and fx and rates.
Chief executive officer Farhat Malik says: “The PMA India Fund is well-positioned to take advantage of the opportunities in the Indian market. Anoop Villait brings to PMA a deep understanding of the Indian market and vast network in the financial industry there, and he has a stellar track record in managing Indian long/short equity funds. We believe that investors in the PMA India Fund will benefit from Anoop’s expertise as well as PMA’s continued trademark commitment to operational excellence and vigilant risk management.”
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