Ambit Alpha Fund, an alternative investment fund (AIF) launched in June 2013, crossed Rs 200 crore mark in assets under management (AUM) in January.
The fund, one of the first AIFs to hit the Indian market, uses a fundamental long-short investment strategy. It was launched by Ambit Investment Advisors.
"We have achieved this growth (in AUM) by adding newer investors, but more importantly, it has been encouraging to see existing investors trusting us with additional funds. Moreover, the fund has witnessed consistent and strong fund performance," Ambit Investment Advisors CEO Andrew Holland told reporters here.
Alpha Fund is the single largest long-short AIF in India today, Ambit Managing director Vaibhav Sanghavi said.
The aim of this fund is to generate absolute returns over time, regardless of the prevailing market conditions. Even when markets are falling sharply, an absolute return fund may have the potential to make positive returns.
The fund's investment philosophy is to produce absolute returns taking both long and short positions based on an actively managed portfolio approach, Ambit said.
"We are positive on industrial and manufacturing sectors. In the forthcoming Budget, the Government is expected to push for investment in manufacturing sector and harmonious taxation. The private sector is also expected to invest in expansion plans," Sanghavi said.
AIFs are basically funds established or incorporated here for the purpose of pooling in capital from Indian and foreign investors for investing as per a pre-decided policy.
Ambit Investment is a joint venture between Ambit Holdings Pvt Ltd and Nikko Asset Management Co of Japan, which is Asia's premier global asset manager, with approximately USD 160 billion in AUMs.
