Eight AMCs have come up with their category III AIFs, which are currently open for subscription, shows data compiled by PMSbazaar.
While DSP India Enhanced Equity SatCore Fund, Franklin India Long Short Equity AIF, ICICI Prudential Long Short Fund - Series I, ITI Long Short Equity Fund and Tata Absolute Return Fund are among the open end funds in this category, IIFL High Growth Companies Fund is close end fund.
Edelweiss AMC and IDFC AMC have launched multiple AIFs last month. Edelweiss AMC has launched three funds - two products in open-ended structure - Edelweiss Alternative Equity Scheme and Edelweiss Alpha Fund and one in close end fund Edelweiss Catalyst Opportunities Fund - Series II.
Meanwhile, IDFC AMC came up with two products in open-ended structure- IDFC India Equity Hedge Conservative Fund and IDFC India Equity Hedge Tactical Fund.
Currently, there are 117 funds under Category III AIFs. Of these, 95 funds are long-only funds, 12 funds follow long-short strategy i.e. combination of both cash and derivatives and finally, 10 funds, which are purely hedge funds.