Long-only AIFs outperform long/short peers, give median returns of 3.4%

Long/short funds (of which data is available for 13) gave median returns of 2.73 per cent

Funds which bet on the market going up outperformed those which also profit from falling markets last month.  

Category III Alternative Investment Funds (AIFs) include hedge funds which use complex trading strategies or use leverage to increase returns. They are for the very wealthy and typically involve a minimum investment of at least Rs 1 crore. This is twice the limit for portfolio management service (PMS) providers. Some of these AIFs follow an investment strategy of making money when the markets go up. These are called long-only funds. Those which can also bet on downsides are called long/short funds.

Long-only funds