SATCO Capital Markets manages about Rs 80 crore in AUM (assets under management) in SATCO Growth & Momentum Portfolio. The PMS business has delivered a 21.6% CAGR since its inception.
Kaushik Dani, who is currently the fund manager of the PMS strategy of SATCO Capital, will remain in that position post the acquisition.
Abans Holdings set up Abans Investment Managers as its subsidiary company to build investment products, fund management capabilities, and distribution support. The company has lately been focusing on the expansion of its investment management business as a key growth driver apart from its internal treasury operations and institutional broking, and this acquisition will only help in that direction.
Over the last four years, Abans Investment Managers has mobilised AUMs worth over Rs 400 crore.
“Abans has grown its asset management business over the last few years, and that brings confidence to us that the journey of SATCO Growth and Momentum Portfolio we started 11 years back will accelerate through the distribution network Abans has created,” said Rajendra Babani, Managing Director, SATCO Capital Markets.
“We feel very excited to be part of Abans group as it has not only nurtured various investment strategies but also transformed such strategies into regulated investment products that are accessible to retail and HNI investors,” said Dani.
“FY23 could not have had a better end than this where we ended with Rs 425 crore AUM across Abans Global Arbitrage Opportunities Fund and Market Linked Debentures we offer. This PMS acquisition is not only an addition to AUM, but it’s also an addition to the fund management capability we wanted to strengthen,” said Bhavik Thakkar, CEO, Abans Investment Managers.
Abans investment management business turned profitable in the second half of FY22. The company had initially aimed to achieve Rs 1,500 crore AUM in the next three years without any private equity or external investments.
However, it is now exploring receiving private equity investment in Abans Investment Managers with an aspiration to achieve Rs 5,000 crore AUM in 3 years from receipt of PE investments.
“We would like to use a significant part of fundraising for brand building, in addition to asset management capabilities and further strengthening our distribution capabilities in India and abroad,” said Thakkar.
