Avendus Capital's first category III alternative investment fund, launched two months ago, has crossed the milestone of Rs 500 crore of assets under management (AUM).
Avendus Absolute Return Fund, the first Equity Long/ Short alternate investment fund managed by a team led by Andrew Holland and Vaibhav Sanghavi, achieved the target by raising funds from HNIs, multi-family offices and corporate treasuries, the company said in a statement.
"We are thrilled to have garnered a significant size of AUM within such a short space of time. We are delighted to see so many of our previous investors come into the fund," Avendus Capital Public Markets Alternate Strategies LLP, CEO, Andrew Holland said.
The AIF category III fund invests in Indian-listed equities and equity derivatives, targeting to produce absolute returns with lower volatility than the overall stock market.
The fund seeks capital appreciation and positive returns in an efficient and risk-adjusted manner through long and short positions in equities, futures and options across various market scenarios.
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