RCAM launched AIF
The Reliance Capital Asset Management (RCAM) on Monday said it has launched its first alternate investment fund (AIF) and is targeting to rise over Rs 5,000 crore through the fund in the next three years.
The real estate-based fund is being launched through RCAM’s subsidiary, Reliance AIF Management Company. RYMAIF (Reliance Yield Maximiser Alternative Investment Fund – Scheme I) seeks to invest in a portfolio of relatively high-yielding securities, issued by companies participating predominantly in the residential real estate sector, the officials at RCAM said in a statement.
Reliance has also emerged as one of the key players in the real estate investment space during the last three years said RCAM CEO Sundeep Sikka. They are making plans to scale up their AIF presence and have plans to rise over Rs 5,000 crore under AIFs alone in the next three years as added on by Sikka.
This AIF will help them in garnering the needed funds for the company. The complete phase work of this fund will start from some time hopefully by this year and their plans to scale their AIF presence might work towards their development.
Source: The Financial Express
Alternate Investment Fund, RCAM, RCAM CEO Sundeep Sikka, Reliance Capital Asset Management, Reliance Yield Maximiser Alternative Investment Fund, RYMAIF
