|Singapore-based Helios Capital Management announced plans to raise $50 million in capital for a “Slumdog Millionaire” fund that will invest in undervalued Indian equities. According to an article from Bloomberg, the Helios India Jai Ho Fund is named after the theme song from hit film “Slumdog Millionaire.” |
Using a long-only strategy, the fund will construct its initial portfolio by investing in Indian equities that are currently trading at minimum of 50% of their price at the end of 2007. The portfolio will contain 25 to 30 stocks and focus on companies that have recently seen increased activity from strategic investors.
The fund will be managed by Samir Arora, a co-founder of Helios that already manages nearly $200 million in Indian equities, including the long/short Helios Strategic Fund. Prior to Helios, Arora was the Head of Asian emerging markets at Alliance Capital in Singapore and was also the chief investment officer of Alliance Capital’s Indian mutual fund business and managed all its India-dedicated equity funds.