Ambit Alpha Fund, the largest category III Alternate Investment Fund (AIF) in India, managed by Ambit Investment Advisors, has crossed a milestone of INR 1,000 crore of assets under management within 3 years of its launch. The fund was launched with an AUM of INR 20 crore in June 2013.
Despite a volatile market, Ambit Alpha Fund reported low volatility of 5-7% and managed to provide an outstanding gross compounded return of 23%. As per the recent Bloomberg ranking, the fund is in the top 91 percentile among 800 global hedge funds in the last one year (as of 31 May 2016). It was one of the first AIFs in India using a fundamental long-short investment strategy.
Commenting on the AUM, Andrew Holland, CEO, Ambit Asset Management said, "We are extremely proud to have reached this landmark of INR 1000 cr in AUM and continue to be excited about the opportunity which lies ahead for the industry. We are grateful for the faith entrusted in us by more than 500 investors including family offices, treasuries and HNIs. We thank our investors and distribution partners for being with us."
Added Vaibhav Sanghavi, Managing Director, Ambit Asset Management, "We have been successful in providing a great risk adjusted return solution for investors, wherein we have been able to deliver consistently and keep risk low at the same time. Our outstanding track record underscores the aim of the fund which is to generate absolute returns over time, regardless of the prevailing market conditions. Over the next six months, we look forward to launching new and unique products, with an aim to address the investment objectives of our investors and distribution partners".
Ambit Investment Advisors is a joint venture partnership between Ambit Corporate Finance Private Limited and Nikko Asset Management Co. Ltd. of Japan, which is Asia's premier global asset manager, with approximately USD 160 billion in assets under management.