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Category-III alternative investment funds (AIFs) beat Nifty returns of -0.4 per cent in February. Long-only funds provided average returns of 8 per cent, while long-short funds returned 0.3 per cent, data from PMS Bazaar showed. Only two of the 34 funds ended in the red. The top performer was Roha Emerging Companies Fund (17.5 per cent), followed by Abakkus Asset Manager’s Growth Fund 1 (14 per cent), and Nippon India’s Big Switch Scheme 1 (13.9 per cent). The total commitments to category-III AIFs, which include hedge funds, fell from Rs 48,151 crore at the end of 2019, to Rs 46,825 crore at the end of December 2020, regulatory data showed. ....