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Asset manager Ambit Investment Advisors will soon launch a relative return fund, the second domestic fund in its stable. The fund, which will be benchmarked to an index, will be out in the next few months, said Vaibhav Sanghavi, Managing Director, Ambit Investment Advisors.
Ambit’s flagship product is the ₹1,125-crore Alpha Fund, which has recorded compounded return of 23 per cent since its launch in 2013. The category III Alternate Investment Fund (AIF), which invests in listed Indian equity, had crossed that mark in just three years after it had launched with an AUM of ₹20 crore.
Unlike the Alpha Fund, whose performance is not linked to a specific market benchmark, the new fund will be benchmark-linked, Sanghavi told BusinessLine . “We aim to give investors superior risk-adjusted returns but with lesser volatility.” The other features of the fund are yet to be worked out, such as whether it will be open- or closed-ended.
The fund will start off with at least ₹150-200 crore in its kitty this time, Sanghavi added. Ambit also advises a smaller Mauritius-based offshore Frontier Fund. Ambit Investment Advisors is a joint venture partnership between Ambit Corporate Finance Pvt Ltd and Nikko Asset Management of Japan.
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