Vivriti Asset Management launches AIFs focused on performing credit

Vivriti Asset Management, a debt-focused asset management company, has launched two Category II Alternate Investment Funds (AIFs) focusing on 'performing credit.' The funds will have a tenor of 3.5 years. The first scheme will target a post tax and post expense yield of 7.5% and the second will target a post tax and post expense yield of 9.4%. The assumed rate of tax is 16-17% since the funds will focus on market-linked debentures as underlying assets. Vivriti currently has around four operational funds and manages roughly INR 1,550 crore. It is targeting an AUM (assets under management) of INR 400 crore and INR 250 crore respectively in the two new schemes.