Wealth management entity 360 ONE said on Sunday, August 11, that its IPE-Plus Fund 1 did not make any investments in Adani Group shares
Mumbai: Wealth management entity 360 ONE said on Sunday, August 11, that its IPE-Plus Fund 1 did not make any investments in Adani Group shares.
In a statement released after the latest claims made by short-seller Hindenburg Research, the firm, formerly called IIFL Wealth Management, said Sebi Chairperson Madhabi Puri Buch and her husband Dhaval Buch’s investments were less than 1.5 percent of the total inflow into the fund, and no investors had any involvement in investment decisions.
It said the fund was fully compliant and regulated and that it was operational between October 2013 and October 2019.
“Throughout the fund’s tenure, IPE-Plus Fund 1 made zero investments in any shares of the Adani Group either directly or indirectly through any fund,” the statement to exchanges said.
The peak assets under management for the fund were approximately USD 48 million, and over 90 percent of the AUM were consistently invested in bonds.
