-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LAGLIb9TXkHrXS2UJZ0kvs60OOi5JKtRAla+z1TR9O/z1OIdPI8H1afoefsZ0gQE
 JkFC+Ljc09zB9XW+R/pyLg==

<SEC-DOCUMENT>0001383669-10-000012.txt : 20101012
<SEC-HEADER>0001383669-10-000012.hdr.sgml : 20101011
<ACCEPTANCE-DATETIME>20101012131429
ACCESSION NUMBER:		0001383669-10-000012
CONFORMED SUBMISSION TYPE:	3/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100930
FILED AS OF DATE:		20101012
DATE AS OF CHANGE:		20101012

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Chappuis Jacques
		CENTRAL INDEX KEY:			0001383669

	FILING VALUES:
		FORM TYPE:		3/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21767
		FILM NUMBER:		101118540

	MAIL ADDRESS:	
		STREET 1:		MORGAN STANLEY INVESTMENT MANAGEMENT AIP
		STREET 2:		522 5TH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Alternative Investment Partners Absolute Return Fund
		CENTRAL INDEX KEY:			0001327228
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE TOWER BRIDGE, 100 FRONT STREET
		CITY:			WEST CONSHOHOCKEN
		STATE:			PA
		ZIP:			19428-2881
		BUSINESS PHONE:		610-260-7600

	MAIL ADDRESS:	
		STREET 1:		ONE TOWER BRIDGE, 100 FRONT STREET
		CITY:			WEST CONSHOHOCKEN
		STATE:			PA
		ZIP:			19428-2881
</SEC-HEADER>
<DOCUMENT>
<TYPE>3/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3/A</documentType>

    <periodOfReport>2010-09-30</periodOfReport>

    <dateOfOriginalSubmission>2010-10-12</dateOfOriginalSubmission>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001327228</issuerCik>
        <issuerName>Alternative Investment Partners Absolute Return Fund</issuerName>
        <issuerTradingSymbol>ARF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001383669</rptOwnerCik>
            <rptOwnerName>Chappuis Jacques</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>MORGAN STANLEY INVESTMENT MANAGEMENT AIP</rptOwnerStreet1>
            <rptOwnerStreet2>522 5TH AVENUE</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President &amp; PEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>COMMON SHARES</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>86.3119</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>/s/ Mary Ann Picciotto</signatureName>
        <signatureDate>2010-10-12</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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