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We Are More Than An Asset Manager

Combining innovation and stability, global reach with experience, and broad multi-asset skill with specialization.

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Ampersand Investment Management

About Us

Ampersand Investment Management is a specialized, innovative, and research-grounded investment manager based in Bristol, PA. ​Our research and development group are responsible for the design and customization of innovative products and solutions that seek to meet the needs of leading financial institutions across the globe.

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Our team’s broad research capabilities, industry connectivity and product development expertise facilitate the structuring of highly-customized products that attempt to meet bespoke needs that cannot be met through standard investment vehicles. Our research and development team has been involved in the design of, but not limited to: Mutual Funds, Structured Products, UCITS, Qualified Opportunity Zone Funds, and Unit Investment Trusts.

Investment Capabilities

Ampersand specializes in the construction, implementation and monitoring of bespoke multi-manager portfolios as well as the evaluation of traditional equity and fixed income strategies within an overall portfolio construction framework.

Averaging 25 years of institutional investment and structuring experience, the Ampersand team has deep research capabilities and over a decade of managing multi-manager portfolios.

Institutional Services

Our global investment capabilities along with our breadth of expertise allows us to offer institutions and sovereign clients bespoke investment opportunities.

The Ampersand private and independent ownership model appeals to investors that place an emphasis on confidentiality, while our focus on innovative investment management helps aligns our goals with those of our clients.

Asset Management

We are pioneers in developing investor-friendly alternatives, such as creating the first multi-strategy managed futures mutual fund (2009). We started with managed futures because we believe they are the single most powerful diversifier for a portfolio of stocks and bonds.

With a deep research culture, our mission is to bring the potential benefits of alternatives to institutions and individuals by offering diverse investment strategies that can help meet the unique goals of each investor.

Ampersand Team

The Ampersand team consists of highly experienced individuals with decades of collective experience in investment management.  Members of the team have been involved in alternative investments, product structuring, and tax efficient investing for over a decade and are among the most experienced in the industry.

  • Dr. Ajay Dravid

    Chief Executive Officer & Chief Investment Officer

Dr. Ajay Dravid

Chief Executive Officer & Chief Investment Officer

Dr. Dravid has more than 35 years of experience in industry, academia, and financial services. As CIO, Dr. Dravid is involved in day-to-day portfolio management for all of Ampersand’s offerings. He also participates in the conception, development, and implementation of new products. From 2004 to 2006, he was President of Saranac Capital Management, a separate entity spun out from Citigroup to manage more than $3 billion in hedge fund assets. From 1996 to 2004, he was a Director and then a Managing Director at Salomon Brothers and Citigroup, where he helped build and manage the hedge fund business and platforms. He was a co-portfolio manager for the Multi-Strategy Arbitrage funds, a quantitative analyst for the Equity Long-Short funds, and head of the Risk Committee. He was also involved in the structuring and marketing of funds and in client service. From 1993 to 1996, Dr. Dravid was a Vice President in the Asset Allocation Research Group of Salomon Brothers. Prior to this, he was an Assistant Professor of Finance at the Wharton School. He has published numerous papers in leading academic and practitioner journals including Journal of Finance, Journal of Financial Economics, and Journal of Derivatives. Dr. Dravid received a BSc in Physics from the University of Poona (India), an MA in Physics from SUNY at Stony Brook, an MBA in Finance and Marketing from the University of Rochester, and a PhD in Finance from the Graduate School of Business at Stanford University. He currently holds a CFTC/NFA Series 3 registration.

Contact Us

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10 Canal St
Suite 336
Bristol, PA 19007
1.609.454.5200
info@ampersandinvestments.com
Fax: 1.609.454.5010

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS. YOU CAN LOSE MONEY IN A MANAGED FUTURES PROGRAM.​

Managed Futures Strategy/Commodities Risk: Exposure to the commodities markets (including financial futures markets) through direct or indirect investments in Managed Futures Programs may subject the Fund to greater volatility than investments in traditional securities. Prices of commodities and related contracts and the performance of a Managed Futures Program may fluctuate significantly and unpredictably over short periods for a variety of reasons, including changes in interest rates, overall market movements, commodity index volatility, supply and demand relationships and balances of payments and trade; weather and natural disasters; and governmental, agricultural, trade, fiscal, monetary and exchange control programs and policies. The commodity markets are subject to temporary distortions and other disruptions. U.S. futures exchanges and some foreign exchanges have regulations that limit the amount of fluctuation in futures contract prices which may occur during a single business day and the size of contract positions taken. Limit prices have the effect of precluding trading in a particular contract or forcing the liquidation of contracts at disadvantageous times or prices. The performance-based fees paid to the CTAs may create an incentive for the CTAs to make investments that are riskier or more speculative than those they might have made in the absence of such performance-based fees. A CTA with positive performance may receive performance-based compensation from the Trading Company, which will be borne indirectly by the Fund, even if the Fund’s overall returns are negative.

Derivatives Risk: Derivatives include instruments and contracts that are based on and valued in relation to one or more underlying securities, financial benchmarks, indices, or other reference obligations or measures of value. Major types of derivatives include futures, options, swaps and forward contracts. Using derivatives exposes the Fund to additional or heightened risks, including leverage risk, liquidity risk, valuation risk, market risk, counterparty risk, and credit risk. Derivatives transactions can be highly illiquid and difficult to unwind or value, they can increase Fund volatility, and changes in the value of a derivative held by the Fund may not correlate with the value of the underlying instrument or the Fund’s other investments. Many of the risks applicable to trading the instruments underlying derivatives are also applicable to derivatives trading. However, derivatives are subject to additional risks such as operational risk, including settlement issues, and legal risk, including that underlying documentation is incomplete or ambiguous. For derivatives that are required to be cleared by a regulated clearinghouse, other risks may arise from the Fund’s relationship with a brokerage firm through which it submits derivatives trades for clearing, including in some cases from other clearing customers of the brokerage firm.

Leveraging Risk: Certain fund transactions, such as entering into futures contracts, options and short sales, may give rise to a form of leverage. Leverage can magnify the effects of changes in the value of a fund’s investments and make a fund more volatile. Leverage creates a risk of loss of value on a larger pool of assets than a fund would otherwise have had, potentially resulting in the loss of all assets. A fund may also have to sell assets at inopportune times to satisfy its obligations in connection with such transactions.

There is no assurance that any fund or strategy will achieve its investment objective.  There are risks involved with investing including the possible loss of principal. Investors should carefully consider the investment objectives, risks, charges and expenses of any fund before investing.  Read any fund prospectus or offering documents carefully before you invest.


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