Kotak Mahindra Bank Ltd has launched a long/short hedge fund. The fund aims to capture the upside in Indian shares and cut the downside by moving between sectors, and use of derivatives and cash calls.
The India Absolute Opportunities Fund had started with about $15 million, including $5 million in seed capital from Kotak Mahindra, said the source, who declined to be identified.
The fund would be managed by Singapore-based R. Rajagopal, who was chief investment officer of the indian arm of DBS Group Holdings.
Source: EconomicTimes