360 One Wam Ltd. (formerly IIFL Wealth Management) denied allegations levelled in a media report stating that both its funds through its Mauritius arm do not have Adani Group as investors.
360 One Asset Management (Mauritius) Ltd. is the investment manager for Emerging India Focus Fund and EM Resurgent Fund, both of which are fully compliant broad-based funds registered with the Financial Services Commission, Mauritius, it said in an exchange filing.
This is in response to allegations of hidden foreign investors levelled by the Organised Crime and Corruption Reporting Project.
In neither of these two funds, "the Adani Group or any of the individuals mentioned in the article", are investors, the fund clarified.
"These funds, as of date, have zero investments in any of the shares of the Adani Group."
In the past, among many other portfolio investments, the funds have had investments in shares of Adani Group companies, all of which were sold in 2018, it said.
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