AlphaGrep Investment Management, the funds and portfolio management business of quantitative trading and investment management firm AlphaGrepm has raised over $100m for its flagship AlphaMarine Absolute Return Fund, according to a report by Business Today.

Launched in April 2022, the open-ended Category III AIF (Alternative Investment Fund), which is led by industry veteran and the firm's Chief Executive Officer Bhautik Ambani, follows quant investment strategies that evaluate historical data and generate investment signals using a strictly rules-based framework.

According to a AlphGrep, the fund aims to deliver consistent returns with low correlation to equity markets, by following a multi-strategy long-short approach on listed equities, futures and options.

The report quotes Ambani as saying: “We are overwhelmed with the response and acknowledgement 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.”