Ambit Alpha Fund's AUM touches Rs 850 crore

NEW DELHI: Ambit Alpha, an alternate investment fund, today said it has touched a milestone of Rs 850 crore of assets under management ( AUM).

Ambit Alpha Fund which was launched in June 2013 by Ambit Investment Advisors, has given significant returns over the last year and its AUM has touched Rs 850 crore as of today.

"With almost 861 long short equity hedge funds, Ambit Alpha Fund returned 15.41 per cent over the last year, beating 83 per cent of global peers," a company release said.

Moreover, despite high volatility both globally and locally, returns generated by Ambit Alpha have had a volatility of 2.03 per cent as compared to the NIFTY index volatility of around 13 per cent.

"It has been a great year for our Ambit Alpha Fund. It underlines the fact that hedge funds can produce positive and consistent risk-adjusted returns, in Bull, Bear and range bound market conditions," Ambit Investment Advisors CEO Andrew Holland said.

At present, there are 861 hedge funds globally and 27 category III Alternate Investment Funds in India.

Ambit Investment Advisors is a joint venture partnership between Ambit Holdings Pvt Ltd and Nikko Asset Management Co Ltd of Japan, which is Asia's premier global asset manager, with about $160 billion in AUM.