ASK Hedge Solutions aims to raise Rs 3,000 cr in maiden long-short NFO

ASK Hedge Solutions, a subsidiary of Blackstone-backed ASK Asset and Wealth Management Group, on Tuesday launched its first long-short fund, ASK Absolute Return Fund with an aim to raise up to Rs 3,000 crore.

The NFO (New Fund Offering) is an open-ended Category III Alternative Investment Fund, aiming to raise Rs 3000 crore with approx. Rs 1,000 crore over the next 6 months. 

"With no fixed tenure, the fund positions itself as a core portfolio holding serving as a Debt-plus alternative in clients' fixed income portfolios. The aim is to deliver superior risk-adjusted returns over any liquid fixed income alternatives invested from a 12–15-month investment horizon perspective, with a focus on low volatility and minimal drawdowns.” the investment firm said in a press release.

The ASK Absolute Return Fund will be managed by hedge fund veterans Vaibhav Sanghavi as CEO and Piyush Shah as CIO.

Vaibhav Sanghavi, CEO of ASK Hedge Solutions said, “This strategy marks the beginning of our suite of innovative product offerings, designed to enhance investor portfolios with risk-adjusted returns.”

Our primary focus is on delivering risk-adjusted returns, with emphasis on capital preservation, while being consistent in generating alpha over any fixed-income alternative with an investment horizon of 12 months, Vaibhav added.

ASK Asset & Wealth Management Group's MD & CEO, Sunil Rohokale, highlighted that globally, Long-Short funds constitute about 4-5 per cent of total assets. The category allocation is currently in its nascent stage in India and they are confident in its growth prospects, given the rise of the UHNI segment.

We plan to extend this strategy to offshore investors, focusing on Single and Multiple Family Offices, Fund of Funds, Endowment Funds, UHNIs, and other investors globally who are accustomed to hedge fund investments, Sunil added.

ASK Hedge Solutions was incorporated in 2023 with the focus on delivering “Risk Adjusted Return” products and strategies across platforms to Family Offices, Corporate Treasuries, Trusts, UHNI, and HNI investors who are looking for diversification and uncorrelated strategies for their portfolio.