15th January 2020 | Mumbai | Asset Management
Avendus Absolute Return Fund, a Category III - Alternative Investment Fund and the largest hedge fund in India, has been awarded as the Best Single Country Fund at the 18th HFM AsiaHedge Awards in Hong Kong.
The annual HFM AsiaHedge Awards highlight excellence in Asia-Pacific’s hedge fund industry, celebrating the achievements of the best performing funds of the previous year. This edition of the Best Single Country Fund award evaluated the top hedge funds from various APAC countries and weighed them basis their risk-adjusted performance in a combination of Sharpe ratio and absolute returns.
On receiving the award, Andrew Holland, CEO, and Vaibhav Sanghavi, Co-CEO, Avendus Capital Public Markets Alternate Strategies LLP, said, “We are delighted to receive this award. It is a recognition of the team’s consistent and outstanding performance over many years. What is special for us is that we competed with six other hedge funds from across Asia (including Australia) and came out with flying colours. Our focus on the process and a disciplined approach towards investments, have helped us deliver consistent risk-adjusted returns.”
The HFM AsiaHedge Award becomes another feather in the hat after the Avendus Absolute Return Fund represented Indian hedge funds on a global platform at The EurekaHedge Asian Hedge Fund Awards and was adjudged the Best India Hedge Fund of 2019. These awards, held in May 2019, celebrated the best performing Asian hedge funds of 2018 in categories across the board in regional and strategic mandates that not only reflect the industry’s performance but also highlight outstanding performers of the year.
India witnessed the entry of this asset class (Alternative Investment Fund - Category III) when the Securities and Exchange Board of India allowed the launch of hedge funds in the year 2012. Post this development, asset managers have responded by launching an array of investment strategy offerings such as absolute-return, event-driven, quant-based and finally, the classical fundamental long-short equity products. Andrew Holland and Vaibhav Sanghavi have pioneered the hedge funds movement in India, driving conversations with regulators, government and other stakeholders to create this differentiated opportunity for Indian investors.
Avendus Absolute Return Fund is the first Equity Long/Short Alternate Investment Fund (AIF) by Avendus Capital Public Markets Alternate Strategies LLP, launched in March 2017. The Avendus Absolute Return Fund invests in Indian-listed equities and equity derivatives, targeting to generate absolute returns with lower volatility than the overall stock market. The focus is on innovative risk-adjusted strategies that help investors diversify their portfolio. The fund has an AUM of over USD 500 million.
About Avendus Capital Public Markets Alternate Strategies LLP
Avendus Capital Public Markets Alternate Strategies, the alternate asset management arm of Avendus Group, manages the Avendus Absolute Return Fund, the Avendus Enhanced Return Fund and the Avendus India ESG Fund, with an AUM of over USD 1 billion.
Avendus Group is a leading provider of financial services with an emphasis on customized solutions in the areas of Investment Banking, Wealth Management, Credit Solutions, and Asset Management. Avendus relies on its extensive experience, in-depth domain understanding and knowledge of the regulatory environment, to offer customized solutions that enable clients to meet their strategic aspirations. Avendus Capital, the investment banking arm, has consistently been ranked among leading financial advisors by the number of deals and has a strong track record of cross-border transactions.
Avendus Capital Inc, located in New York, is an Avendus Group entity, offering M&A and Private Equity syndication services to clients in the respective regions. For more information, please visit http://www.avendus.com