Thursday, July 25, 2024

Abans Holdings Ltd acquires portfolio management service of SATCO Capital Market

Abans Investment Managers Pvt Ltd, a subsidiary of Abans Holdings Ltd on Tuesday said that it has acquired the portfolio management services (PMS) business of SATCO Capital Markets Limited.

SATCO Capital Markets Ltd through its PMS license manages 80 crore AUM in SATCO Growth & Momentum Portfolio since January 2012 which will be taken over by Abans Broking Services Pvt Ltd. It holds PMS license from SEBI.

SATCO Growth & Momentum Portfolio has delivered 21.6% CAGR since inception from January 2012. The deal is subject to regulatory compliances/approval.

Abans Holdings  has been focusing on expansion of investment management business as key growth driver apart from its internal treasury operations and institutional broking.

The acquisition is a step in that direction of acquiring assets and fund management capabilities. Abans Holdings Limited set up Abans Investment Managers Pvt Ltd as its subsidiary company to build investment products, fund management capabilities and distribution support.

“Over last 4 years, Abans Investment Managers Pvt Ltd has been able to mobilize over INR 400 Cr AUM which reflects strongly on trust of investors and distribution partners in our asset management capabilities” said Mr Abhishek Bansal, Founder, Chairman & MD of Abans Group.

“Abans has grown its asset management business over last few years and that brings confidence to us that the journey of SATCO Growth & Momentum Portfolio we started 11 years back will accelerate through the distribution network Abans has created” said Mr Rajendra Babani, Managing Director, SATCO Capital Markets Limited.

“FY23 could not have better end than this where we ended with INR 425 Cr AUM across Abans Global Arbitrage Opportunities Fund and Market Linked Debentures we offer. This PMS acquisition is not only addition to AUM, it is an addition to the fund management capability we wanted to strengthen. As the investment management business turned profitable in H2FY22, we strategized internally to achieve Rs. 450 cr, Rs. 900 Cr and Rs. 1,500 Cr respectively for next 3 years without any private equity/external investments. We are now exploring to receive private equity investment in Abans Investment Managers Pvt Ltd with an aspiration to achieve Rs. 5,000 Cr AUM in 3 years from receipt of PE investments. We would like to use significant part of fund raise for brand building, addition of asset management capabilities/talent and further strengthening our distribution capabilities in India and abroad” said Bhavik Thakkar, CEO – Abans Investment Managers Pvt Ltd.

“Myself and team 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 which are accessible to retail and HNI investors” said Kaushik Dani who will continue to be the fund manager of the PMS strategy upon migration to Abans group.

“I have been interacting with team at Abans Investment Managers over last few years and this collaboration to my mind is a perfect combination of excellent product meeting growth focused sales capabilities. It’s a value accretive deal for investors” noted Mr. Naresh Tejwani former director of SATCO Capital Markets and currently strategic advisor to Abans group.


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