India Infoline successfully concludes IIFL Fund

India Infoline has announced the successful closure of the IIFL Income Opportunities Fund which is a Category II AIF (Alternate Investment Fund) after receiving capital commitments of Rs.628 crore.

Karan Bhagat, MD & CEO of IIFL Wealth Management, said, "We are highly encouraged by the response to the Fund. Not only did we present a unique investment opportunity, we also aligned the fee structure with our clients’ interests. Bucking the industry trend, we decided not to charge performance fees on the fund and hence leave substantial value on the table for our clients. The management fee charged by the fund is also amongst the lowest in the industry. Finally, the corpus raised by the fund indicates the confidence investors place in the IIFL group’s asset management capabilities. Going forward, we shall continue to launch innovative investment propositions for clients through Category I, II and III AIFs."

IIFL Income Opportunities Fund  which is a close-ended debt scheme with the objective of investing in debt and debt-related instruments issued by good corporates/groups, secured against quality assets is  structured to provide periodic cash flows. The fund is expected to fetch its investors, enhanced fixed income returns with periodic cash flows.