ETMARKETS AIF TALK
ETMarkets AIF Talk: Earnings likely to be next big trigger for equity markets; shifting to quality makes more sense: Vikaas M Sachdeva
But it seems like the markets have regained confidence. Third term, same government, acceleration towards infrastructure investment I think that is what is driving this optimism.
ETMarkets AIF Talk: Modi 3.0 positive for AIF & PMS space; ‘Quality’ likely to take center stage in next 5 years: Vikaas M Sachdeva
India and the US are probably the only two markets with high multiples. India is also one of the only EMs which is increasing its share in the MSCI EM index. As organizations across the cap curve keep getting into aggressive Capex and growth mode, money on the sidelines will keep getting tactically deployed.
ETMarkets AIF Talk: This Rs 300 crore fund manager unveils M.E.R.I.T strategy to pick investments for portfolio
Himanshu Kohli, Co-founder of Client Associates, discusses identifying themes early for investors and the fund philosophy emphasizing value in business with strong fundamentals and execution. He mentions raising Rs 300 crore in AUM.
ETMarkets AIF Talk: Fund Manager of Rs 1200 cr AUM reveals 4 key factors for wealth creation in small & midcaps
Aditya Sood, Fund Manager at InCred Asset Management, discusses small companies' growth potential in an interview with ETMarkets. Sood says that the cost of capital in India will structurally decline over the next 5-7 years, benefiting small and mid-cap companies. Many of the investee companies, though small in size, are already market leaders or challengers in niche industries with substantial growth potential
ETMarkets AIF Talk: Fund Manager with Rs 1,000 cr portfolio nearly doubles wealth in a year; holds 10% cash amid election uncertainty
Arun Chulani, Co-Founder of First Water Capital, discusses the fund's impressive performance, achieving over 90% growth in the last year and 40% CAGR in 3 years. The fund has consistently ranked no.1 on BarclayHedge's Top 10 equity funds. he says: "Our performance is a reflection of our core philosophy, which starts with value, concentration, and betting on a country with long-term tailwinds—that of India."
ETMarkets Smart Talk: Why are arbitrage funds popular among HNIs, Anuj Kapoor decodes
Anuj Kapoor of JM Financial discusses the tax efficiency of arbitrage funds for HNIs and the growth of new millionaires in Tier 2 and Tier 3 cities. He highlights the interest in unlisted opportunities, strategic advisory for family businesses, and the impact of market volatility on investments. Kapoor says: "Funds focussed on the manufacturing, defence, PSUs, which have been underperformers over the last decade, have shown strong performance and have delivered stellar returns."
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ETMarkets AIF Talk: Betting on India, this fund manager turns Rs 1 cr investment into Rs 5 cr in 11 years
Emkay Capital Builder achieved impressive 16.75% CAGR returns, growing an initial Rs 1 crore investment to Rs 5.5 crore over 11 years. Sachin Shah provided insights on India's per capita income and outlined strategies for a prosperous future. He also says he anticipates accelerated growth in five key themes in the coming years, presenting exceptional opportunities for bottom-up stock selection and the creation of winning portfolios.
ETMarkets AIF Talk: Vikaas M Sachdeva shares framework for identifying future multibaggers in 4-5 years
Vikaas M Sachdeva of Sundaram Alternates discusses equity funds' growth potential, embracing quality indices over value. Sundaram's diverse funds show strong performance, focusing on high returns while prioritizing risk management and unexplored market opportunities for investors. Sachdeva says that while value indices tend to experience steeper corrections and prolonged underperformance, quality indices offer better risk-adjusted returns over time.
ETMarkets AIF Talk: Fund manager with Rs 225-cr AUM identifies 4 investment trends for next 5-10 years
Aniruddha Naha, CIO at PGIM India AMC, shares investment philosophy emphasizing good businesses with strong cash flows and balance sheets. Strategies include trend identification and valuation-based stock selections, anticipating strong earnings growth in the near future. Naha points out that eventual multibaggers are good businesses, which probably are going through a down cycle, and hence both earnings and valuations are compressed.
ETMarkets AIF Talk: Govind Jhawar explains how purchasing options is a smart way to mitigate risk; sees froth in small & midcaps
The performance of the Finideas Growth Fund has been nearly on par with the index performance even after having a limited risk downside. We have outperformed the index in the last three months.
ETMarkets AIF Talk: This fund manager with Rs 350 cr in AUM almost doubles wealth in 1 year; picks stocks using GACP model
“On a post-tax basis, investors would be sitting on close to 75-80% returns since inception. We also have the lowest redemption rate in the entire fund management industry,” says Siddharth Oberoi.
ETMarkets AIF Talk: Young fund manager unveils secrets to spotting multibaggers in SME & microcap markets
Kresha Gupta, fund manager of Chanakya Opportunities Fund, discusses the exceptional performance of the fund in SME IPOs since its inception. The fund follows a strategic investment approach, allocating to unlisted and listed SME exchange companies, and small cap SME companies based on a rigorous stock selection process. The fund has a lock-in period and actively manages risk.
ETMarkets PMS Talk: How AAID helps this fund manager turn Rs 55 lakh during Covid phase to over Rs 2 cr in 2023
Anirudh Garg, Partner & Head Research at INVasset PMS, discusses the performance of their fund 'Growth Pro Max Fund' compared to the BSE500 index. The fund has achieved a remarkable return of approximately 96.5% in 2023, surpassing the index's 26.5%. Over a three-year period, the fund has maintained a compounded annual growth rate of around 41%. . The fund has delivered consistent performance by eliminating human biases and identifying relative changes in sectors.
ETMarkets AIF Talk: Multibagger Returns! This fund manager turns Rs 1 cr investment into Rs 25 cr in 11 years
Aequitas Investments has seen significant growth in its assets under management (AUM) over the years. A crore invested in 2013 has now grown to 25 crores, with a compounded annual growth rate (CAGR) of 35% over the last 11 years. The PMS portfolio has also delivered impressive returns, with more than 90% growth in 2023 alone. However, the company is cautious about the current market conditions, as valuations are high and opportunities for finding multi-baggers are limited. The focus for the future will be on fiscal consolidation, infrastructure spending, and sectors like capital goods, metal, and mining.
ETMarkets Fund Manager Talk: This fund manager sees 2 themes doing well in India irrespective of election outcome
Fund manager Siddharth Oberoi believes that regardless of the election outcome, the infrastructure and consumer goods sectors will continue to thrive in Dalal Street. The Prudent Equity ACE Fund delivered a 72% return in 2023 with consistent monthly gains. Oberoi sees tremendous opportunities in equities for 2024, driven by increased earnings in listed companies. Although there may be a surge of money due to the US Fed's indication, Indian markets have become less reliant on foreign flows.
ETMarkets AIF Talk: Siddharth Oberoi shares 3 factors to consider for picking stocks from his 27 years of experience
"Management quality is also something we focus on. We look for managements that walk the talk, and those that display sharing the wealth with the minority. Capital allocation is another aspect that takes precedence over other aspects for us. We like to invest in companies that have a return on capital substantially higher than the cost of capital or are near to achieving the same in the near future."
ETMarkets AIF Talk: Planning to invest in realty? This real estate AIF has generated 15% IRR
"The real estate investment landscape is shifting with the rise of Category 2 AIFs, providing predictability and attracting investor interest in diverse sectors such as commercial spaces, student housing, senior living, healthcare, and retail. We've witnessed tremendous interest in Tier 1, 2, and 3 cities. At Integrow, our strategic vision spans Mumbai, Pune, Ranchi (in collaboration with Pranami Group), and our inaugural residential AIF have laid a robust foundation."
ETMarkets AIF Talk: Goal congruence among regulators essential to drive foreign interest in GIFT City: Abans Group
"Technology, especially through robo-advisory platforms, has significantly shaped the development of Indian markets across asset classes. It contributes by using advanced algorithms for data analysis, pattern recognition, and algorithmic trading, enabling the creation and execution of complex trading strategies with precision. Additionally, robo advisors excel in risk management through sophisticated algorithms, operate 24/7 for continuous market monitoring, and can even incorporate behavioral analysis for a deeper understanding of market dynamics."
ETMarkets Smart Talk: AIFs typically make up about 15-20% of UHNI portfolio: Gautami Gavankar
"As the average age of HNI and UHNI investors has been dropping, riskier products like equities, private equity funds, unlisted equities, and private credit have gained substantial traction. Also, investors are looking at offshore investments and having global diversification. We’ve further observed a notable surge in establishing offshore family offices and family investment funds (FIFs)."
ETMarkets AIF Talk: See debt AIFs becoming a core allocation for HNIs in 2024: Vivriti Asset Management
"We are also underweight on lending based on event risks such as IPOs/PE equity infusion etc. So, you will typically not see start-ups/bridge to equity etc be any significant part of our portfolios. The converse to this is partly true too – we are constructive on industries catering to domestic demand and those which benefit from government-led capex allocations."
ETMarkets AIF Talk: 5 traits which this fund manager looks for while investing in SME IPOs
"Our investment philosophy is underpinned by a rigorous due diligence process. We evaluate potential investments based on several criteria, including 1) the company's management quality, 2) market position, 3) financial health, 4) growth prospects, and 5) corporate governance standards. Also, our background in merchant banking plays a critical role, particularly in the due diligence process."
ETMarkets Fund Manager Talk | This CIO managing over $100 mn assets believes 2024 will be dominated by rural consumption
"We believe that the market is likely to show return divergence across sectors. Earnings growth will not be broad based and, hence, stock selection will play a crucial role. As the general elections approach, the markets are expected to remain volatile for a while. Historically, spending in rural areas tends to increase leading up to elections. Factors such as erratic monsoons, higher raw material prices, and the COVID pandemic have negatively impacted rural incomes."
ETMarkets AIF Talk: India eyes $8 trn economy; AIF AUM likely to hit $320 bn in next 4-5 years: Sunil Rohokale
Over the past five years, the AIF commitments in India have witnessed an impressive five-fold growth, increasing from approximately 1.7 lakh crore INR to around 8.3 lakh crore INR as of FY'23. Likewise, the PMS industry has experienced a two-fold growth during the same period, rising from around 2.5 lakh crore INR to approximately 4.9 lakh crore INR.
ETMarkets Smart Talk: India remains expensive vs EMs but could still attract higher global flows: Rupen Rajguru, Julius Baer India
"Valuations, after very muted market returns and strong earnings growth over the past two years, have also turned reasonable, moving closer to the historical averages with Nifty trading at around 18.5x one-year forward earnings estimates. Overall market sentiment seems positive with broad market participation and healthy domestic flows, with the monthly SIP flows clocking $2 billion."
ETMarkets AIF Talk: We see venture debt to be $5 billion investable opportunity in near future: Pranav Parikh
"In the current scenario – given that venture capital (VC) funding has dried up, companies are hard-pressed for funds to support growth & move towards profitability. There is a strong demand for VDF, particularly in growth/late-stage companies, in the backdrop of a weak equity funding environment to enable lower dilution."
ETMarkets AIF Talk: Staying on top! This fund turns Rs 10 cr to Rs 29 cr in 3 years
First Water Capital Fund, co-founded by Arun Chulani, has delivered impressive returns, with a 5.4% gain in September 2023, making the 1-year return close to 47% and the 3-year rolling return at 43%. The fund has been ranked number one by Barclay Hedge's in the "Top 10 Equity-Long Only Hedge Funds" category, with a Dollar CAGR of 34%. Chulani attributes the fund's success to sticking with industries they understand and focusing on companies with strong balance sheets. He also emphasizes the need to embrace volatility and manage risk effectively.
ETMarkets Smart Talk: Rs 8-trn opportunity! AIF is growing much faster than MFs: Ajay Vora
Ajay Vora of Nuvama Asset Management, believes that alternative investment funds (AIFs) are growing faster than mutual funds (MFs) and this trend will continue. He also stated that with the Nifty at 20,000, the Indian market is still not expensive and has strong earnings growth potential. Vora mentioned that there is growing interest in alternative investments, particularly from Tier-II and III cities. He also noted that investors are moving away from traditional fixed income products towards higher-yielding structured credit products.
ETMarkets AIF Talk- The Dhoni moment! Next wave of startups will come from Tier II and III cities: Vignesh Shankar
The inaugural fund was structured as a proprietary fund, backed by our personal capital, in collaboration with a few friends from our school. The nomenclature "Artha99" derives from our school year of completion, which was 1999.
ETMarkets Fund Manager Talk-Simplifying processes, addressing tax issues can bolster AIF industry growth: TriVeda Capital
However, there are areas that need to be addressed and if done, it will go a long way in fostering growth for the industry, said Raj Inamdar, Partner at the real estate AIF firm.
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