AlphaGrep Investment Management Pvt Ltd announced that its flagship fund – AlphaMine Absolute Return Fund - has raised more than  $100 million (Rs 930 crores) as of October 31, 2023. Launched in April 2022, this open-ended Category III AIF (Alternative Investment Fund) is led by industry veteran, Bhautik Ambani. The fund follows quant investment strategies that evaluate historical data and generate investment signals using a strictly rules-based framework. 

The firm is a unit of the quantitative trading and investment management firm – AlphaGrep. 

The growth in assets under management has been achieved mainly on the back of the fund’s unique positioning, consistent performance, and encouraging support from the distribution partners. 

Bhautik Ambani, chief executive officer, AlphaGrep Investment Management, said, “AlphaMine Absolute Return Fund follows systematic investment strategies. Our team has devised efficient strategies based on systematic algorithms which have enabled us to have a statistical edge. 

In terms of risk and return, our fund offers substantial diversification and increases portfolio efficiency. We also have a considerable focus on risk management across all our strategies. Our primary focus is to contain the potential losses, and deliver on investor expectations.” 

He added, “We are overwhelmed with the response and acknowledgment that we have received from our UHNIs, HNIs, family offices, and channel partners. They have responded with interest as they are seeing the value potential that quant investing is equipped to unlock. We are very excited about the stellar growth and thank our investors for bestowing their trust in our team and strategy, and choosing us as their partner in wealth creation.” 

The objective of AlphaMine Absolute Return Fund is to deliver consistent returns with low correlation to equity markets. The fund follows a dynamic multi-strategy long-short approach on listed equities and Futures and Options, the firm said in its statement.    

AlphaGrep was founded in 2010 by quantitative research and trading specialists - Mohit Mutreja and Prashant Mittal in Mumbai. It is a quantitative trading and investment management firm.