Investment objective

The primary investment objective of this investment plan (approach) is to seek to generate long-term capital appreciation from a portfolio that is substantially constituted of securities, with the combination of high growth stocks as well as value stocks.

From time to time, the Investment Manager will identify investment opportunities in different sectors & will seek maximum value from the same.

Investment approach

We invest in companies that have proven management with superior earnings growth, driven by sustainable competitive advantage.

Our four-step investment process is:

1.Stock identification

Identify emerging trends and opportunities from a universe of 600 companies and combine it with our 3M Stock Selection Approach

Market size: Market size determines the size of the opportunity. We prefer companies which are targeting large market sizes to generate exponential returns.

Market share: We buy the companies that are leaders in their sector as they are best positioned to navigate the sector’s/economy's upturn and downturn.

Margin of Safety: Price is what you pay. Value is what you get. We buy the companies which are available at reasonable valuations.

Filter approach – using a variety of valuation parameters.

Focus on earnings, free cash flow, ROE, long term growth, and profitability trends.

2.Analysis and Decision-Making process

Initial screening

Corporate meeting and detailed due diligence on management, governance and business model.

Identify sustainable competitive advantage.

3.Portfolio construction, Monitoring and Nurturing

Combination of Top Down and Bottom-Up approach with a benchmark agnostic strategy to achieve the long-term investment objective.

Continuous portfolio monitoring ensures prudent risk management.

Regular interaction to provide strategic inputs to strengthen systems, controls, and CG in line with best practices.

4.Exiting and Realising Value

Constant evaluation of valuation metrics to decide the optimum return potential.

Intrinsic value V/s Current Market Price to evaluate Margin of Safety

Change in underlying assumptions of the investment thesis.

The companies thus selected enjoys strong moat with strong governance, strong management and strong financials.

Our Investment Philosophy

We believe in protect capital, create wealth.
We protect capital by
1.Diversification across number of companies, number of sectors and across market cap.
2.Stagger investment approach and
3.Disciplined Exit strategy.
We create wealth by selecting stocks based on our 3M Investment Approach, doing deep analysis, and monitoring the portfolio companies.

Investment objective

The primary investment objective of this investment plan (approach) is to seek to generate long-term capital appreciation from a portfolio that is substantially constituted of securities, with the combination of high growth stocks as well as value stocks.

From time to time, the Investment Manager will identify investment opportunities in different sectors & will seek maximum value from the same.

Investment approach

We invest in companies that have proven management with superior earnings growth, driven by sustainable competitive advantage. Our four-step investment process is:
Stock identification
Identify emerging trends and opportunities from a universe of 600 companies and combine it with our 3M Stock Selection Approach
1. Market size: Market size determines the size of the opportunity. We prefer companies which are targeting large market sizes to generate exponential returns.
2. Market share: We buy the companies that are leaders in their sector as they are best positioned to navigate the sector’s/economy's upturn and downturn.
3. Margin of Safety: Price is what you pay. Value is what you get. We buy the companies which are available at reasonable valuations.
Filter approach – using a variety of valuation parameters.
Focus on earnings, free cash flow, ROE, long term growth, and profitability trends.
Analysis and Decision-Making process
1. Initial screening
2. Corporate meeting and detailed due diligence on management, governance and business model.
3. Identify sustainable competitive advantage.
Portfolio construction, Monitoring and Nurturing
1. Combination of Top Down and Bottom-Up approach with a benchmark agnostic strategy to achieve the long-term investment objective.
2. Continuous portfolio monitoring ensures prudent risk management.
3. Regular interaction to provide strategic inputs to strengthen systems, controls, and CG in line with best practices.
Exiting and Realising Value
1. Constant evaluation of valuation metrics to decide the optimum return potential.
2. Intrinsic value V/s Current Market Price to evaluate Margin of Safety
3. Change in underlying assumptions of the investment thesis. The companies thus selected enjoys strong moat with strong governance, strong management and strong financials.

Investment objective

Buoyant Capital seeks to generate superior risk-adjusted returns across market cycles through a top-down and bottom-up strategy. Its dynamic portfolio balances core (stable cash flow) and satellite (cyclical/turnaround) investments to optimize growth and capital preservation. A team-based approach enhances risk management and consistency.

Investment approach

• Generate consistently superior returns
• Adjusted for risk
• Across market cycles

Our Investment Philosophy

1. STYLE
Investing through cycles. Good company <> Great investment. Two distinct eras
2. FRAMEWORK
Cycle Stance: Aggressive cycle vs. Defensive cycle
Core vs. Satellite: Weight allocation basis stance
3. PROCESS
Top Down: Start with macro-view 
Sector selection: Macro view + Cycle stance
Stock selection: Analyst prerogative, presentation to Investment committee (IC)
Exit decision: Thesis based    
 

Investment objective

The investment objective of the Portfolio Manager under its PMS is to provide superior and consistent risk adjusted returns for the Client. The Portfolio Manager may invest Capital Contributions in Securities and any other permissible securities/ instruments/ products as per Applicable Laws, in such manner and through such markets as it may deem fit in the interest of the Client.

Investment approach

1. Eliminating stocks with conviction, based on (eight) fundamental screening factors, has repeatedly proven to be effective in weeding out poor performers, gravitating towards winners, and creating a sustainable outperformance profile
2. Avoiding permanent loss of capital must be an overarching objective at every stage of the investment process, at stock level and at portfolio level
3. Investing is a deeply fundamental research driven process, executed in the context of evolving macroeconomics, market conditions, industry trends and thematic tailwinds

Our Investment Philosophy

The three overarching tenets of investment philosophy are:
Elimination Investing utilizing our unique EITM framework
Elimination Investing is a unique approach that uses 8 fundamental factors to eliminate (ex-ante) poor performers and narrow down to a buy list of “good” stocks that “Cannot Be Eliminated on Any Factor.” This process has repeatedly proven to be effective in weeding out poor performers, gravitating towards winners, and creating a sustainable outperformance profile.

Avoid Permanent Loss of Capital
This is an overarching objective at every stage of the investment process, at stock level and at portfolio level. This is achieved by limiting leverage, respecting valuation, and screening out stocks with potential to permanently derate, stagnate or go to zero, using our EITM framework.

Invest with Tailwinds
It is always better to invest with a tailwind, rather than be left fighting headwinds. We are fundamental bottom-up investors who believe an investing strategy must be cognizant of, adjust to and take advantage of changing dynamics of macroeconomics, market conditions, industry trends and thematic tailwinds.

Investment objective

The Strategy aims to follow a value investment style and intends to offer a diversified portfolio of stocks that have high potential but are quoting at a discount to their fair/intrinsic value.

Investment approach

The core investment philosophy of value investing is based on the belief that stocks cannot continue to quote at values that are below their fair values over the long term. At some point in time, the markets are likely to recognize the extent of undervaluation of these companies. The same could lead to a rerating/appreciation in the company’s stock price.
The Portfolio Manager aims to find a good business at a reasonable price and not a mediocre business at a bargain price. The Portfolio Manager endeavors to invest in securities with: – Favourable long-term prospects; – Effective management; – Scalable businesses; Sustainable competitive edge; and – Available at an attractive/reasonable price. 
The Value Strategy aims to follow a ‘buy and hold’ strategy in order to fully capitalise on the true underlying value of the business potential which gets ‘unlocked’ over a period of time. However, the Value Strategy may be actively managed to take advantage of certain market trends, with an endeavour to enhance returns.

Our Investment Philosophy

•    Aims to offer a diversified portfolio of stocks that have high potential but are quoting at a discount to their fair/intrinsic value.
•    Invest in undervalued companies with potential for sustainable long-term growth
•    Endeavors to invest in companies with visible competitive advantage & capable management

Investment objective

The objective of the Small Cap and midcap Strategy is to invest in equity and equity related instruments to generate capital appreciation over long term. The Strategy invests across all sectors and Small and Mid-market capitalization stocks by adopting a sector agnostic approach.

Investment approach

Small Cap and Mid Cap strategy aims to deliver superior returns over a long period of time by
identifying investment opportunities into high growth sectors.
Benchmark and sector agnostic bottom-up stock picking High conviction portfolio of 25-30 stocks

Our Investment Philosophy

• Buy ‘Great’ businesses at fair value
• Buy ‘Good’ businesses at a discount
• Avoid ‘Bad’ businesses

Investment objective

The objective of the Multicap Strategy is to invest in equity and equity related instruments to generate capital appreciation over long term. The Strategy invests across all sectors and market capitalization stocks by adopting a sector and a market cap agnostic approach.

Investment approach

Multicap strategy with balance across large cap,midcap and small cap
Benchmark agnostic bottom-up stock picking
High conviction portfolio of around 30 stocks

Our Investment Philosophy

• Buy ‘Great’ businesses at fair value
• Buy ‘Good’ businesses at a discount
• Avoid ‘Bad’ businesses

Investment objective

Investment objective is to primarily invest in equity and equity-related instruments focused on the healthcare ecosystem in India. The Strategy invests adopts a market cap agnostic approach.

Investment approach

• Buy ‘Great’ businesses at fair value
• Buy ‘Good’ businesses at a discount
• Avoid ‘Bad’ businesses

Our Investment Philosophy

Primarily investing in healthcare related sectors including pharmaceuticals, hospitals, diagnostic, insurance etc
Multicap strategy with balance across large cap,midcap and small cap Benchmark agnostic bottom-up stock picking
Concentrated portfolio of 15-20 stocks

Investment objective

SEEKING “HIGH CONVICTION STOCKS” WITH
• Growth Potential with Reasonable Valuations
• Early Business Cycle Characteristics

Investment approach

Karma Capital Jasmine seeks to provide superior returns over longer time frames (3 to 7 years) and across market cycles. It
aims to capture the India growth story by investing in listed equities by identifying investment ideas through bottom-up
research. The bottom-up approach focuses its analysis on specific characteristics and micro attributes of an individual stock.
The approach aims to deliver superior risk adjusted returns through differentiated portfolio with high active share.

Our Investment Philosophy

LONG TERM: Consistent application of a disciplined fundamental approach to create long term value for our clients
ALL-CAP: Finding candidates across the capitalization spectrum to maximize the opportunity set
EARLY CYCLE: Identifying early cycle investment prospects in companies with high growth potential and reasonable valuations
INDEPENDENT THINKING: Ability to capitalize on opportunities by being contrarian at times, based on our in-house research depth
CONCENTRATED PORTFOLIOS: Focused research leading to a portfolio of around 25 stocks

Investment objective

Investment approach

Karma Wealth Builder seeks to provide superior returns over longer time frames (5 to 7 years) and across market cycles. It
aims to capture the India growth story by investing in listed equities by identifying investment ideas through bottom-up
research. The bottom-up approach focuses its analysis on specific characteristics and micro attributes of an individual stock.
The approach is benchmark agnostic with the aim to deliver superior risk adjusted returns through differentiated portfolio
with high active share.
Our ‘Growth At Reasonable Price’ (GARP) strategy is underpinned on constructing a high conviction concentrated market-cap
agnostic portfolio investing across sectors. The appropriate benchmark to compare performance would be BSE 500 TRI as it
matches with our market- cap agnostic investment approach. The investment approach is subject to various risk like no
assurance of investment returns, political, legal, social and economic considerations of investing in India, inflationary
pressures and liquidity risk.

Investment objective

The objective of the fund is to achieve long term capital appreciation by primarily investing in equity & equity related instruments across market capitalization.

Investment approach

The fund predominantly aims to invest in Indian businesses where the founders' stake would be more than 26%. The fund aims to invest in
businesses whose owners have a long horizon and have displayed quality of governance and adaptability through optimal usage and distribution of capital

Our Investment Philosophy

• Min 26% Promoter Holding
Including companies significant ESOPs/shares with management professionals. Exception for Financials.
• PBT > 100
Minimum PBT of INR 100 Crs
• Capital Efficiency
Quality of Business, Minimum Cycle ROCE of 15%
• QGLP
Corporate Governance, Management Quality – Vision, Execution, Succession Planning and Capital Allocation Decisions
• Earnings Expectations
Companies with Min Additional Expected Earnings 3–5Y Growth of 3% Over Benchmark, Available at Relatively Attractive Valuation

Investment objective

To generate long-term capital growth through investment in well-researched stocks.

Investment approach

• Equity strategy – Endeavour to have 15 to 20 stocks
• Portfolio will have core and satellite along with active cash allocation
• Stock limit - 10% at the time of investment; No sector bias

Our Investment Philosophy

Active Cash Management
• A recourse available in case of inadequate opportunities
• Aims to reduce drawdown
• Helps to avoid forced buying
• Allocation range to be 0% -35% of the overall portfolio

Core Holdings
• Focus on long-term earnings compounders
• Absolute return portfolio with low churn
• Allocation range: 50% or more of the equity portion

Satelitte Holdings
• Focus on medium-term tactical opportunities
• Relative return with a “high risk - high reward” expectation
• Clearly dened exit strategy resulting in a higher churn ratio
• Allocation range: Upto 50% of the equity portion

Investment objective

VQ Growth emphasis on investing in fundamentally sound, well researched companies having bright future prospect irrespective of market capitalization. The aim is to maximize the power of compounding. Here our philosophy is to pick high quality companies with proven track record at reasonable valuations and then let the compounding do its magic. Idea is to ride the growth phase in the company or industry over rolling 3-5 years’ time frame.

Investment approach

• Long-term 3-5 years rolling review
• Multicap Market cap agnostic
• Customized As per client mandate
• Focused Absolute returns

Our Investment Philosophy

• Rolling 5 year's view
• Sectoral limit 45% at cost
• 5–15% bet size
• Concentrated Portfolio (8–12 stocks)
• Let winners ride, cut losses early
• Sector and Market cap agnostic
• Frequent review of weightages
• Personalized approach