A Fund Of New Possibilities
Avendus Enhanced Return Fund (AERF), launched by global financial services company Avendus in India in December 2017, provided overall returns of 11.71 per cent till end June this year, while the National Stock Exchange's Nifty rose 5.12 per cent in the same period. Even when the Nifty fell by 5 per cent in February, the fund's value had dropped by only 0.81 per cent. Ambit Alpha Fund (AAF), run by domestic financial services heavyweight Edelweiss Asset Management which it acquired from Ambit Investment Advisors in September 2016 has delivered 12 15 per cent returns every month, without once going negative.
Both AERF and AAF are alternative investment funds (AIFs) which go beyond the traditional asset classes of stocks, bonds and cash. Their numbers in India have been swelling from 92 in 2015 to 395 now while the assets they manage have grown from Rs70,266 crore in December 2016 to Rs141,119 crore in December 2017. These funds are of
