Credence Capital, a student-run mutual fund from the portals of Indian Institute of Management-Lucknow, is trying its hands at giving ‘hot stock tips’ on social investing community site, Stockezy.
Stockezy is an online platform designed to build a community where retail investors can collaborate, share ideas and discuss stocks.
Speaking to VCCircle, Satyakam Gautam, member – Credence Capital, said, the association with Stockezy will help them learn the industry opinion about their decisions and give them a wider spectrum in equity and derivative markets.
Formed in 2005, Credence Capital has raised Rs 6 lakh in its first year of operation in 2007 and is running a Rs 4-lakh fund in second year. It raises funds from IIML students and invests in equity and derivative markets. In the equity market, Credence Capital focuses on sectors such as banking, jewelry, IT and infrastructure.
Trying out classroom concepts in the real market place is picking up in Indian B-school campuses.
Recently, students of International Management Institute (IMI), Delhi too launched a similar equity scheme – Nivesh, which raises funds from students, faculty and alumni. Nivesh will invest in companies across sectors including auto and telecom.
Nivesh, to be registered with the Government of India as a non-profit society, will be operational by the first week of October 2009. It will invest a maximum 10% of the total fund value in a single company. However, Nivesh is yet to decide the corpus of the fund. It plans to raise Rs 1,000-5,000 per student, faculty member and alumni.