Mumbai, Oct. 26: The mutual fund venture promoted by Temasek, the Singapore government’s investment arm, and Sabre Capital is finally getting ready to launch its first fund.

The fund house, which has gone through a series of setbacks, plans to launch the Lotus Liquid Fund on November 13.

Ajay Bagga, chief executive officer of Lotus India Asset Management Company, is gung-ho about the prospects for the fledgling fund house and isn’t fazed by all the turnoil that it has faced.

“Temasek and Sabre Capital are long-term players and minor hitches do not worry them. Though the series of events recently has set us back by three months, it really does not make a difference in the overall scheme of things,” said Bagga.

“We will follow it up with our equity offering around the first week of December,” said Bagga.

So, how will the fund house function without any head of investments?

“We have a team of nine people on the fund management side. While we are still scouting for investment heads, we will go ahead with the fund launch and continue from there,” said Bagga.

There has been no revenue generation from the mutual fund operations for more than a year while the fund house has 123 employees on its payrolls.

Lotus is also exploring alternative businesses and has appointed Rajiv Shastri, ex-CEO of Sahara Mutual Fund, to scout for ideas.

“We are offering advisory services to a Mauritius-based offshore fund, for which we got our approvals in September. We also plan to launch a portfolio management services business within the next three months,” said Bagga.