NEW DELHI: After running an Alternative Investment Fund (AIF) for the last three years, Zerodha co-founder Nikhil Kamath on Wednesday announced the launch of his new Portfolio Management Service (PMS) for ultra-rich investors. The Bangalore-based True Beacon Wealth will manage wealth across all asset classes for leading entrepreneurs, individuals, families, and institutional investors.
“True Beacon Wealth is our foray into bringing our transparent, competitive fee structure and active asset allocation approach to the PMS domain. True Beacon Wealth will additionally extend personalised, discretionary attention to UHNW clients, which is something that will be exciting for us,” Kamath told ETMarkets.com.
Explaining the uniqueness of his PMS in the already-crowded market of wealth management for India’s richie rich, Kamath said they will have the capability to invest in commodities and ultra-conservative products like G-Secs and will also manage time-varying risk profiles via derivatives. Additionally, there will be high levels of bespoke client service constructing portfolios around individual circ*mstances, he said.
Along with his partner and global banker Richard Pattle, Kamath had launched True Beacon as Category-III Alternative Investment Fund (AIF) in September 2019.
“My time in international private banking reinforced the growing need for sophisticated and bespoke wealth management globally, including India. At True Beacon, Nikhil and I aim to make wealth management more holistic, with a very competitive fee model and a distinctive strategic value offering to our key clients,” Pattle said.
Kamath, who co-founded India’s largest discount broking platform Zerodha with his brother Nithin Kamath in 2010, said True Beacon Wealth is focused on building sustainable wealth. “A long-term approach, while being cautious, is to not be hindered by market conditions with a focus on compounding wealth over a long period of time.”
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