The IIFL Income Opportunities Fund of the diversified financial company India Infoline received commitment of Rs 628 crore.
The IIFL Income Opportunities Fund is an alternate investment fund (AIF) of the company and according to the company press release it is the country’s largest AIF fund raising till date.
The company would invest the corpus in debt and debt-related instruments issued by ‘good corporate groups; secured against quality assets and are structured to provide periodic cash flows, the release said.
IIFL Wealth Management said it charges the lowest management fee for the fund and it decided not to charge a performance fees.
An AIF invests in non-traditional assets that are not found in conventional investment portfolios.
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