Avendus Absolute Return Fund, the largest Indian securities operator, has stopped accumulating cash and has resumed the purchase of companies’ shares. Such steps became possible last week when the selling rate of the S&P BSE Sensex Index reached indicators that weren’t observed from the peak of the 2008 financial crisis.
Thus, the company had to start reducing its cash flow, which reached a record of 65% in September. The operator expects that the price of securities of the South Asian countries will increase, as benchmark indices have fallen because of rising oil prices, as well as due to an increase in interest on loans and insolvency of a local shadow lender. Avendus Absolute Return Fund was founded in March 2017 and is considered the largest Indian hedge fund with assets of $600 million.