Ajay Vaswani takes over as CBO of AIF business at ITI

NEW DELHI: Ajay Vaswani has been promoted to the chief business officer role for the alternate investment fund at Investment Trust of India (ITI). Vaswani will be responsible for driving business objectives for ITI Long Short Equity Fund – AIF CAT III and ITI Growth Opportunities Fund – AIF CAT II.

In this role, Vaswani will spearhead the strategy and execution for sales, distribution, business development, product and marketing functions for the Alternate Investment Fund in onshore and offshore markets.

According to the company, Vaswani brings with him over 20 years of experience in the financial services industry and has been in leadership roles at leading asset and wealth management firms. He has been with ITI since January 2020.

During his tenure, assets under management (AUM) of the flagship fund- ITI Long Short Equity (an onshore fund) has grown six times, to approximate 800 crore.

Speaking on the elevation, Rajesh Bhatia, managing director and chief investment officer, ITI Long Short Equity Fund, said, “Ajay’s promotion is in line with our goal of bolstering our leadership team and propelling our growth ambitions. Ajay will be able to achieve the firm’s objectives to grow our funds presence in onshore and offshore markets. “

To expand its footprint in offshore markets, the company plans on launching an offshore fund, with the already successful long short strategy. The proposed offshore fund will be launched via GIFT IFSC, subject to regulatory approvals.

“I believe alternate investment fund industry is still at an early stage of growth in India and there is lot of ground to cover before we become a notable pie of global alternate funds space. I look forward to the journey of building a world class alternate investment fund platform, for onshore and offshore investors “says Ajay Vaswani.

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