ASK Absolute Return Fund

Returns

Gross of fees, as ASK Long Short Fund Managers reports them, to 30 Sep 2026. AIFs report returns on different bases, so compare like with like. Benchmark returns weren’t reported.

Fund details

Category

Category III

Strategy

Long-short (conservative)

Market-cap style

—

Asset type

—

Benchmark

—

Fund manager

Vaibhav Sanghavi, Piyush Shah

Investment approach

Conservative Long-Short Fund

The fund endeavours to deliver absolute returns over medium term with lower degree of volatility compared to broader Indian equity indices. It is positioned as a fixed income alterntaive that aims to deliver consistent risk adjusted returns with a net alpha of 100-150 bps (post fees and tax) over liquid fixed income alternatives from a 12+ month investment horizon

About the fund manager

Mr Vaibhav Sanghavi — Chief Executive Officer

Vaibhav joined ASK Group in Aug 2023 in the capacity of Managing Director & CEO, Hedge Fund Solutions to build and manage the Alternate Investment platform. Vaibhav’s responsibilities include, managing the various alternate offerings, including the flagship, India long-short strategy as well as complete oversight over the investment team and business management. Prior to joining ASK, Vaibhav was with Avendus Capital Public Markets Alternate Strategies LLP, where he was responsible for managing multiple alternate strategies totalling ~US$1Bn. Before that, Vaibhav worked with DSP Merrill Lynch and was instrumental in building the prop-book business for alternatives. He started his career with HDFC Bank advising clients on the private banking side before moving to the proprietary desk as a trader. Vaibhav is a regular speaker at industry events and spearheads the development of alternate solutions space in India, through frequent media and investor engagements. Vaibhav holds a Bachelor of Commerce (B. Com) degree from the University of Mumbai and is a qualified Chartered Accountant.

Mr Piyush Shah — Chief Investment Officer

Piyush joined ASK Group in September 2023 as CIO & Fund Manager, Hedge Fund Solutions to build and manage the Alternate Investment platform. His current role, is setting the investment style and strategy of the firm’s investments managing the various alternate offerings, including the flagship, India long-short strategy as well as complete oversight over the investment team and business management. His key responsibilities include sourcing, managing, and monitoring investment, establishing investment policies and collaborating with the fund management team to optimise investment performance. With an experience spanning over two decades in the financial services industry, Piyush is a seasoned professional with over 25 years of experience in the Indian equity markets, known for his extensive knowledge of derivatives and fundamental analysis. His disciplined and process-driven approach has consistently yielded positive risk-adjusted returns across various market cycles. Starting his career at DSP Merrill Lynch in 1996, Piyush played a crucial role in the equity broking sector and was instrumental in setting up the Derivatives and Structured products desk. His acumen in investing and hedging strategies led him to manage the Merrill Lynch proprietary book for India, overseeing an Assets Under Management (AUM) of $1 billion. In 2008, Mr. Shah joined Ambit Private Ltd, where he managed the proprietary trading business and was pivotal in launching one of India’s first long-short funds for public money under Category III of Alternative Investment Funds (AIF), regulated by SEBI. Along with his team he marked a significant impact in the India hedge fund space by growing the largest onshore India hedge fund to an AUM of Rs 1200 Crores. His tenure at Avendus from 2016 to 2023 marked a period of significant growth and expansion. Mr. Shah was key in building the business, forming a strong team, and diversifying the product offerings. Under his leadership, Avendus reached a peak AUM of Rs 7000 Crores, showcasing his ability to drive success and innovation in the financial sector. Piyush holds a Degree in financial management from Mumbai University..

As the fund house describes it.