Business Update11 Aug 2024, 08:20 pm
360 ONE WAM LTD Denies Investments in Adani Group, Clarifies Report Misconceptions
AI Summary
360 ONE WAM LTD, in response to a Hindenburg Research LLC report, clarified that IPE-Plus Fund 1, operational from October 2013 to 2019, made no investments in the Adani Group. The fund, which peaked at USD 48 million AUM, primarily invested in bonds and was managed by the Investment Manager without investor involvement. Mrs. Madhabi Buch & Mr. Dhaval Buch's holdings in the fund were less than 1.5% of the total inflow. 360 ONE Asset Management maintains regulatory compliance and high corporate governance standards.
Key Highlights
- IPE-Plus Fund 1 made zero investments in the Adani Group
- At its peak, the fund's Assets Under Management (AUM) reached approximately USD 48 million
- Over 90 percent of the fund consistently invested in bonds
- Mrs. Madhabi Buch & Mr. Dhaval Buch's holdings in the fund were less than 1.5%
- 360 ONE Asset Management maintains regulatory compliance and high corporate governance standards