Ashika Investment Managers has launched SmartAlpha Fund, an open-ended Category III alternative investment fund, after receiving regulatory approval from SEBI. The Mumbai-based asset manager announced the launch on January 6, 2026, with the fund now open for subscription.
The SmartAlpha Fund employs a proprietary “Six Bucket Approach” that uses data-driven strategies to identify investment opportunities based on behavioral anomalies validated in global markets. The investment process combines earnings expectations analysis, fundamental valuation measures, momentum indicators, and strategic investor activity monitoring.
According to Ajay Arora, Co-CEO of Ashika Investment Managers, the SEBI approval represents a significant milestone for the firm’s alternative asset management platform. He noted the growing importance of systematic and data-driven strategies in India’s maturing alternatives ecosystem.
Himadri Roy, Head of Quantitative Fund Management and Fund Manager, explained that the strategy integrates multiple validated factors within a structured framework to provide disciplined market engagement across different market conditions.
Ashika Investment Managers positions itself as a future-focused alternative asset management firm specializing in quantitative investment strategies. The parent Ashika Group, established in 1994, operates as a multi-disciplinary financial services platform with presence across more than 20 states and over 125,000 retail broking clients. The group offers services spanning investment banking, merchant banking, asset management, and retail broking through its Dhanush application.