Carnelian Asset Management Targets USD 2 Billion AUM Amid Market Fluctuations

Carnelian Asset Management & Advisors is targeting USD 2 billion assets under management by the end of the next financial year, despite current market conditions. The firm plans to expand to seven new cities and believes current market challenges are temporary.

Carnelian Asset Management & Advisors aims to nearly double its assets under management to USD 2 billion by the end of the next financial year despite facing a subdued market environment.

The company, which caters to high net-worth individuals, plans to extend its presence into seven additional cities over the next financial year. According to CEO Swati Khemani, concerns over present market conditions are considered temporary by most investors.

Further international expansion includes the establishment of an office in GIFT City, Gandhinagar, to attract overseas investments. Currently operating in nine cities, Carnelian plans to increase its branch count to 15-16 by March 2026, exploring possibilities in states like Uttar Pradesh, Rajasthan, and Punjab.

(With inputs from agencies.)