Hot market prompts InCred to shut multi-cap AIF, return money

InCred Asset Management, led by Bhupinder Singh, is closing the multi-cap AIF India Value Growth Fund I, returning ₹80 crore. Managed by Aditya Sood, the fund delivered 165.0% returns since September 2019. Steep valuations, increased 15-25% cash holdings ahead of Union Budget, and new investor warnings drove the decision. Market risks come from US economic conditions.