On Wednesday, Ambit Alpha Fund (AAF), an alternate investment fund (AIF) said that it has crossed the milestone of Rs 500 crore of assets under management in July.
In June 2013, AAF was launched by Ambit Investment Advisor.
According to a company statement. the aim of the fund is to generate absolute return over time, regardless of the prevailing market conditions.
Andrew Holland, Chief Executive at Ambit Investment Advisors said, “Outstanding fund performance augmented by our key partners’ broad distribution network has enabled this impressive growth of the fund”.
He further added that “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.”