ASK Hedge Solutions launches Absolute Return Fund
ASK Hedge Solutions, a subsidiary of Blackstone-backed ASK Asset and Wealth Management Group, announced the launch of its first long-short fund — ASK Absolute Return Fund.
It an open-ended Category III Alternative Investment fund, looking to raise Rs 3,000 crore, with approximately Rs 1,000 crore in the next 6 months.
Vaibhav Sanghavi and Piyush Shah will be the fund managers.
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With no fixed tenure, the fund positions itself as a core portfolio holding, serving as a debt-plus alternative for clients' fixed-income portfolios. The fund aims to deliver superior risk-adjusted returns over any liquid fixed-income alternatives invested from a 12–15-month investment horizon perspective, with a focus on low volatility and minimal drawdowns, it said in a note.
«As a continuation of our foray into the Alternatives space, we are pleased to introduce our Long-Short fund under ASK Hedge Solutions, marking a significant milestone in our commitment to providing innovative investment opportunities and delivering best-in-class investment solutions,” said Sunil Rohokale, MD & CEO, ASK Asset & Wealth Management Group.
“Globally, Long-Short funds constitute about 4-5% of total assets. The category allocation is currently in its nascent stage in India and we are confident in its growth prospects, given the rise of the UHNI segment. We plan to extend this strategy to offshore investors, focusing on Single and Multiple Family
