Savart eyes Rs 4,000cr AUM by FY24-end

Savart started their AI-based research system APART (Advanced Process Automation & Research Technology) in September 2019. In the past four years, it has outperformed the market by almost 85%. Till date, it has given a return of 25% CAGR versus Nifty 50 the market benchmark return of 13.9%

Hyderabad: Hyderabad-headquartered Savart, one of the largest investment advisory companies in India, has recently received license from the market regulator Securities and Exchange Board of India (Sebi) for providing portfolio management service (PMS) to its clients. It is all set to launch its unique PMS platform – The Ad Astra Fund in the city today (26th August 2023).

“This is the world’s first fully automated fund, which uses in-house developed artificial intelligence (AI) technology to do the stock research, invest and trade without any manual intervention. The minimum investment is Rs 50 lakh as prescribed by the Sebi. This is a long-term fund with concentrated portfolio and it is very aggressive in nature,” Sankarsh Chanda, Founder & CEO of Savart, told Bizz Buzz.

“Many fund managers fail to outperform the benchmark also because human beings are emotional investors. Also, they have bias and strategic inconsistency. However, our technology-managed fund is immune to these. It looks at the data, interprets and makes the decision. It increases the probability of achieving a superior return on investment,” he said. “The company started their AI-based research system APART (Advanced Process Automation & Research Technology) in September 2019. In the past four years, it has outperformed the market by almost 85 per cent. Till date, it has given a return of 25 per cent CAGR versus Nifty 50 the market benchmark return of 13.9 per cent. That is the extra return we have created using this technology,” Sankarsh informed.

He adds, “For this fund, we already received commitments of about Rs 25-30 crore from investors across India. Very soon, we will be launching global fund and invite foreign investors also. By the end of this fiscal, we will be achieving around Rs 300-350 crore through this. Over all, we are expecting to have more than Rs 4,000 crore in assets under advisory (AUM) from over Rs 2,100 crore in AUM at present.”

Savart has clients from over 33 countries and rapidly growing its presence across the South Asian & North American regions. Starting as a digital only web & mobile investment advisory application in 2019, it has now expanded its physical presence with 13 franchisees in four States. Now, it is expanding to all States with another 25-30 franchise partners by this year-end.

Sankarsh further said: “Savart’s PMS marks a ground-breaking shift in the way we manage portfolios. While AI has become a hot topic at the moment, Savart had embraced its power since inception, initially for its investment advisory services and then for the enterprise division as well. We believe that Ad Astra has an edge over most human fund managers, who mostly fail to beat even the benchmark returns.”