Saturday, 28 March 2015
Last updated 1 day ago
Apr 18 2008 | 2:00am ET
New York- and Mumbai, India-based RAS Capital Management has launched an India-focused arbitrage-only fund of hedge funds.
The RAS India Absolute Return Fund, which debuted in January, is a carve-out of the firm’s flagship multi-strategy fund of funds, RAS India Fund-of Funds, which launched in November 2006. In its first three months of trading, co-founder Robert Rahbari said the new offering is approximately flat.
India Absolute Return is a multi-strat arbitrage vehicle with exposure to relative value, cash-futures, pair trading, statistical, volatility and convertible bond arbitrage. There are currently four managers in the portfolio. Rahbari said the fund is actively seeking new managers, but that it is limiting its exposure to five managers this year because “a lot of the trades tend to be similar.”
In addition, Rahbari said the firm is in the initial stage of planning a seeding platform for emerging India-focused managers. The platform will launch later on this year or by early next year.
RAS’ flagship fund of funds finished 2007 up 42%, though this year it is down “in the high teens, but significantly less than Indian markets,” said Rahbari, adding that “anything in the equities space was hit pretty hard.”
Rahbari, a chief compliance officer at Ferro Capital, co-founded RAS with Rohit Aggarwal, a former executive director with Oppenheimer & Co., and Anand Sekaran, founder of Wasson Capital Advisors.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…