Ambit Alpha Fund, a category III Alternate Investment Fund (AIF), managed by Ambit Investment Advisors, claimed it has crossed Rs 1,000 crore of assets under management, three years after its launch. The fund was launched with an AUM of Rs 20 crore in June 2013.
Despite a volatile market, Ambit Alpha Fund reported low volatility of 5-7% and provided a gross compounded return of 23%, the fund claimed in a statement. As per the recent Bloomberg ranking, the fund is in the top 91 percentile among 800 global hedge funds in the last one year (as of 31 May 2016).