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Religare Enterprises is close to buying 85% of the Ajay Piramal Group-promoted real estate fund Indiareit Fund Advisors, valuing the entire fund at around 250 crore. The deal is expected to be announced by December-end. The fund, started in 2006, is currently managing three domestic and an offshore fund with assets totaling around 2,850 crore, and is planning to launch two more funds to raise 1,350 crore. It also advices the London-listed Trikona Trinity Capital that manages a 1,200-crore fund in India.
The Ajay Piramal Group’s exit from the fund is because of a likely conflict of interest because the group is now focused more on land acquisition and development. Last week, Religare Enterprises announced a pact to acquire 55% in Landmark Partners for a consideration of up to $171.5 million. Landmark is a private equity and real estate fund-of-funds asset manager, focused on secondary transactions with more than $8.3 billion of committed capital.
The Ajay Piramal Group recently sold Piramal Healthcare’s branded generics business to Abbott Laboratories for 1,700 crore, which is likely to be used for foraying into new businesses and increasing the group’s focus on realty development. Currently, the group’s realty exposure is through Piramal Sunteck, its joint venture with Sunteck Realty, and Piramal Realty.crackcrack
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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