An Art Fund works much like a Mutual Fund, the difference being that the former invests in Art. The funds aim at investing in diversified portfolio of select works by leading artists and providing investors with the opportunity to profit from leveraging the fund's pooled purchasing power. Art funds are a fairly recent phenomenon in India, and are cumulatively estimated to command AUM of 239 crore under management according to the India Wealth Report .
Art funds forms one of the alternative assets in which the individual investors invest; you can also check out the the break–up of the amount of wealth under each sub-category of Alternative assets by taking a look at the India Wealth Report.
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