IFSCA-registered Category III AIF · Systematic long-short quantitative strategies in Indian markets · Domiciled in GIFT City IFSC · Open-ended with monthly liquidity.
The above characteristics are objectives, not guarantees. Past performance is not indicative of future results and returns are not guaranteed.
Systematic identification and capture of mispricings across derivative markets through proprietary quantitative models.
Systematic capture of basis differentials and spread relationships across instruments.
Balanced positioning targeting price discrepancy convergence, independent of market direction.
The Fund employs systematic long-short strategies to capture relative value opportunities across Indian derivative markets through proprietary quantitative models.
Past performance is not indicative of future results. Investment objectives may not be achieved. Returns are not guaranteed. Investments are subject to market and other risks, including the possible loss of the entire invested capital. The strategy may not suit all investors. Please read the Private Placement Memorandum (PPM) carefully before investing.
Operational and structural details specific to the Stratus Fund. For broader AIF / GIFT City questions, see the FAQ.
iRage Investment Management LLP — an IFSCA-registered investment manager based in GIFT City, Gandhinagar (IFSCA Registration No. FDM2025FNR0850). The firm is led by partners from iRage with 15+ years of systematic quantitative trading experience.
Under the IFSCA framework, the Principal Officer is responsible for the overall conduct of the fund management business and accountable to the regulator for the fund's compliance, governance, and investor obligations. Gaurav Raizada serves as Principal Officer of iRage Investment Management LLP.
The fund's Net Asset Value is calculated by an independent administrator on a defined cycle and communicated to investors per the schedule set out in the Private Placement Memorandum. Specific frequency, cut-off times, and reporting channels are detailed in the PPM and subscription documentation.
As a Category III AIF, the fund may use leverage, including through derivatives, within limits permitted by IFSCA and as disclosed in the PPM. Leverage is applied within the systematic strategy framework rather than as a discretionary directional choice, and is governed by the fund's multi-layered risk controls.
In structure and behaviour, IFSCA-regulated Category III AIFs that employ long-short and leverage-using strategies — like the Stratus Fund — are the Indian regulatory equivalent of what global allocators commonly call hedge funds. The terminology differs because the Indian regulatory taxonomy uses "Category III AIF" rather than "hedge fund," but the strategy type, investor base, and operational shape are closely analogous.