Ambit Alpha Fund crosses Rs 500-crore milestone

Ambit Alpha Fund (AAF), an alternate investment fund (AIF), on Wednesday said it has crossed the milestone of Rs 500 crore of assets under management in July, just two years after inception. AAF was launched in June 2013 by Ambit Investment Advisors. Ambit Alpha Fund, one of the first AIFs launched in India, works on a long-short investment strategy, which is to produce absolute returns taking both long and short positions based on an actively managed portfolio approach.

The aim of the fund is to generate absolute returns over time, regardless of the prevailing market conditions, a company statement said. Even when markets are falling sharply, an absolute return fund may have the potential to make positive returns. Outstanding performance helped AAF to cross the milestone of Rs 500 crore of assets under management in July, it said.

"Outstanding fund performance augmented by our key partners' broad distribution network has enabled this impressive growth of the fund," Ambit Investment Advisors Chief Executive Andrew Holland said. "This has been further reinforced by our investor confidence and awareness that risk adjusted funds, like ours, can provide superior, consistent and positive returns despite volatile markets," he added. Ambit Investment is a joint venture between Ambit Holdings and Japan's Nikko Asset Management Company, Asia's premier global asset manager with approximately USD 160 billion in assets under management.