Carnelian Asset Management Eyes USD 2 Billion AUM Amid Market Challenges

Carnelian Asset Management & Advisors aims to grow its assets under management to USD 2 billion by next year, despite market challenges. Expanding to new cities, it remains confident about investor interest. Recent global economic shifts are seen as temporary, with long-term opportunities ahead.

Carnelian Asset Management & Advisors, an investment firm managing high-net-worth portfolios, has set an ambitious target to enhance its assets under management (AUM) to USD 2 billion by March next year. This goal persists despite the prevailing uncertain market climate.

The firm is aggressively broadening its geographical footprint by planning expansions into seven additional cities. Founder Swati Khemani highlighted confidence in reaching USD 1.2 billion AUM by month-end, targeting USD 2 billion by the fiscal year's close.

Despite current global economic turbulence, which recalls events from early 2022, the firm sees this as a transient phase, with long-term lucrative investments anticipated. Strategies include tapping into international funds by establishing an office in GIFT City, Gandhinagar, and widening their branch network to various untapped states across India.

(With inputs from agencies.)