About ASK Group

Mr. Asit having a passion towards research and Mr. Sameer for Capital Markets began with dedicated training and understanding of the business. India during this time was moving from an agriculture-based economy to an industrial based one and was pointing towards a new horizon.

Mr. Asit and Mr. Sameer came together to form brand ‘ASK’. The company during this period focused mainly on advisory services to its clients based on intense research and insights into fundamentals of companies. Understanding and developing client relationships was the main focus area during this period.

ASK acquired the membership of the Bombay Stock Exchange. Consequently it increased its product offering and the level of services to its existing clients.

During this period it got established as a research based broking house mainly catering to private clients delivering quality performance and superior services.

India as a country setout on the progressive path of globalising its economy through a deliberate process of liberalization. Decontrol in several sections of the economy, end of licenses, advent of foreign institutional investors helped the economy to leapfrog into an orbit of high growth. ASK, an established brand by then, gained a foothold in the Institutional equities business. It could see its vision of becoming a global player in the financial markets being fulfilled. ASK had a dream and vision to establish strong roots in India and abroad.

Raymond James Inc., a renowned financial business house from the US was conducting preliminary research to establish its business in India. RJ had then come to India with the objective of finding a suitable partner and was accordingly doing a country specific feasibility study and due diligence of the financial markets in India. RJ short-listed ASK as its partner in the country based on its strong research infrastructure and reputation as a sound broking house, with the vision to develop its business in India. Thus the ASK Raymond James (ASK RJ) group of companies took shape in the Indian financial markets.

The focus continued to be on the Institutional equity broking and Asset management business.

In 1996 ASK RJ acquired the membership of the National Stock exchange of India. Three important funds were established - Taj Performance Fund, Taj Offshore and INVIL. The main funds and operations being from UK.

ASKRJ also established the institutional advisory desk in USA and UK during this period. Initial Public Offering, Private placement of equity, syndicate member for ADR/ GDR, Plant valuation assignments were also successfully handled during the period.

ASK RJ formalized the Asset management teams starting with the Client Service Team, Business Development team and International business in Dubai, Middle east. It entered into a partnership with Standard Chartered Bank and other banks to market and develop its Asset Management offering internationally.

ASK RJ entered into an alliance and partnership with Mr. Bharat Shah to carry the business of AMC. Mr. Bharat Shah, CEO of the AMC, came with strong credentials as CIO of Birla Sun Life AMC a joint venture of the Aditya Birla Group and Sun Life Financial of Canada. The assets under management which then stood at Rs. 2500 mio showed a steady upward climb from thereon.

ASK RJ during the period spread its wings in the country and set up branches in Delhi, Bangalore and Kolkatta. It has also started the process to establish office in Dubai. ASKRJ in 2006 initiated the institutional derivative business and became a trading & clearing member of the National Stock Exchange.

Mr. Mukarram Bhagat joined the group as the partner in 2005 to head the institutional broking business. He joined the group from CRISIL Newswire. He had over two decades of experience in senior positions in financial markets-Equity Broking (Dresdner Kleinwort Benson Securities, Jardine Fleming, now J. P. Morgan Securities), Mutual Fund Rankings (CRISIL) and the Financial Media (The Economic Times, Resident Editor, Mumbai) as also in CMIE (Centre for Monitoring the Indian Economy).

In early 2007 Mr. Rajesh Saluja joined the group as CEO of the Financial Planning and Wealth Advisory business. Prior to joining the group he was the Head of Priority Banking at Standard Chartered Bank and was responsible for growing its wealth management business.

The ASK group bought out the Raymond James stake in the joint venture in March 2007. Post the RJ exit the group got rechristened as ASK with three main lines of businesses, portfolio management, institutional equity broking and financial planning & wealth advisory. The AUM of the portfolio management business had swelled to USD 600 mio.

The group eventually divested its Institutional Broking business in two phases (60% initially in Q4 2007 and balance 40% in March 2008).

Mr. Mukarram Bhagat the erstwhile CEO of the institutional broking business joined the group as a member on the board of the holding company of the group, ASK Investment Holdings.

The group applied to SEBI for a licence to start its asset management business and appointed Mr. Sameer Kamdar as the CEO of its proposed AMC business in August 2008.

As part of its strategy to expand its product offering to its HNI clientele and tap into the opportunities provided by an economy on the upswing, the group inducted Mr. Sunil Rohokale the erstwhile Managing Director and CEO of ICICI Home Finance on its board as Executive Director.

In September 2008 the group appointed Mr. Amit Bhagat, the erstwhile Head of Property Services at ICICI Home Finance as the CEO of its Real Estate Fund and Advisory business.