| Alpha (1Y) | Beta (1Y) | Standard Deviation (1Y) | % of +ve Months (SI) |
|---|
ASK India Select Portfolio (ISP)
Key People
Mr. Bharat Shah
Executive Director
Mr. Nimesh Mehta
Director & Country Head- Sales & Products
Investment Objective
ASK India Select Portfolio or ASK ISP PMS is designed to provide medium to long-term returns, by seeking to buy growth at value prices from a diversified portfolio of selected Indian equities with favorable long term prospects.
The two core objectives of this ASK India Select Portfolio or ASK ISP PMS are: Capital Preservation and Capital Appreciation over a period of time. This is achieved through long-term investments in high-quality companies with strong growth prospects.
Investment Attributes
The investment attributes of ASK India Select Portfolio or ASK ISP PMS are:
Size of the Opportunity
• Size of pond v/s size of fish
• Dominance
• Resilience
• Liquidity
Earnings Growth
• Quantum
• Consistency
• Durability
• Predating (Early v/s Later)
• Compounding power
Quality of the business
• High quality of business (Superior RoCE)
• Strong moat. Impregnability
• Sustainability
• Key pivot of strong wealth creation
Value
• Favorable Price-Value Gap
• Margin of safety
Investment Philosophy
ASK’s Advantage “Investing”, as Buffett says, “is simple but not easy”. It is the implementation of the simple things consistently and with discipline during all market conditions, that requires character, which makes all the critical difference. Core advantage lies in the disciplined and consistent execution of these ‘simple’ things and doing them well.Core philosophy at ASK Investment Managers revolves around two key aspects:
- First achieve capital protection (over time) and
- Follow it with capital appreciation.
Overarching Investing Philosophy and Principles
• Greater certainty of earnings v/s. mere quantum of earnings growth
• Superior and consistent quality of earnings v/s. mere quantum of earnings growth
• High quality at a reasonable price v/s. inferior quality at an arithmetically ‘cheap’ price
Investment Strategy
For ASK India Select Portfolio or ASK ISP PMS, size of opportunity matters. The strategy is an electic mix of: size of opportunity, earnings growth, quality of the business, and price-value gap. Good Management is an attribute which is a given constant. The ultimate aim is to achieve an overall optimal bend within the portfolio mix.
The Investment Approach Research Methodology & Filtration for ASK India Select Portfolio or ASK ISP PMS is:
• Universe of Top 500 as per market capitalization
• Filter companies that have a PBT of above INR 75 crores for trailing 4 qtrs (at the time of 1st investment)
• Subjective evaluation on management quality, their integrity, vision, past track record, execution, capital allocations and distribution skills, corporate governance standards, and so on
• Filter for selection of stocks – Minimum 15% earnings growth over the next 3 to 5 years without capital dilution, and Quality of business (capital efficiency) – minimum ROCE of 20%
• The businesses that remain after passing through the above filters, become a part of the ASK India Select Portfolio or the ASK ISP PMS
Investment Approach
• Universe of Top 500 as per market capitalization
• Filter companies that have > 25% promoter / family holding (except in very rare and fit cases) [Universe of entrepreneur and/or family-owned business = 306 cos.]
• Condition of minimum PBT of INR 100 Cr (USD 14 mn) (at the time of 1st investment)
• Quality of business (capital efficiency) – minimum ROCE of 25%
• Subjective evaluation on management quality, their integrity, vision, past track record, execution, capital allocations and distribution skills, corporate governance standards, and so on
• Two more filters for selection of stocks a) Minimum 20 to 25%* earnings growth over the next 3 to 5 years without capital dilution and b) Price-Value gap (margin of safety) of 20%
• The businesses that remain after passing through the above filters, become a part of the ASK Indian Entrepreneur Portfolio or the ASK IEP PMS
Awards & Achievements
• In 2023, ASK Indian Entrepreneur Portfolio or ASK IEP PMS was awarded Rank #3 as the Best PMS across all categories, on a 10Y Risk-Adjusted Returns. These Awards were hosted by PMS AIF WORLD, in association with IIM-Ahmedabad.
• In 2021, ASK Indian Entrepreneur Portfolio or ASK IEP PMS was awarded Rank #2 as the Best PMS across all categories, on a 10Y Risk-Adjusted Returns. These Awards were hosted by PMS AIF WORLD, in association with IIM-Ahmedabad.
• In 2021, ASK Indian Entrepreneur Portfolio or ASK IEP PMS was awarded Rank #2 as the Best PMS across all categories, on a 5Y Risk-Adjusted Returns. These Awards were hosted by PMS AIF WORLD, in association with IIM-Ahmedabad.
Performance Table #
| Trailing Returns (%) | 1m return | 3m return | 6m return | 1y return | 2y return | 3y return | 5y return | 10y return | Since inception return |
|---|---|---|---|---|---|---|---|---|---|
QRC Report Card *
| Strategy | Category | Fund Manager | Date of Inception | Age Of PMS | Corpus (in Cr, approx) | Benchmark | Returns SI (CAGR) | Stocks In Portfolio | Sectors In Portfolio |
|---|---|---|---|---|---|---|---|---|---|
| ASK India Select Portfolio (ISP) | Multi Cap | Mr. Chetan Thacker | 04 January 2010 | 14Y 10M | BSE 500 TRI | 8 |
| Portfolio Quality (Q) | Portfolio Risk (R) | Portfolio Consistency (C) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Index | Category Alpha (1Y) | Relative Alpha (1Y) |
% of +ve Months
(Fund Data) |
Alpha (1Y) | Beta (1Y) |
Standard Deviation (1Y)
(Fund Data) |
Sharpe Ratio (1Y)
(Fund Data) |
Alpha (SI) | Information Ratio (SI) | Consistency Ratio % |
| Nifty 50 | 12.72% | -12.15% | 65.17% | 0.57% | 0.81 | 12.20% | 1.94 | 4.41% | 0.44 | 53.37 % |
| Nifty 500 | 6.77% | -14.38% | -7.61% | 0.82 | 3.68% | 0.41 | 54.49 % | |||
| Nifty Midcap 100 | -3.03% | -13.87% | -16.90% | 0.65 | 0.95% | 0.08 | 48.31 % | |||
| Nifty Smallcap 100 | -4.63% | -14.99% | -19.62% | 0.47 | 3.87% | 0.24 | 46.63 % | |||
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Disclaimer
#Returns as of 31 Oct 2024. Returns up to 1 Year are absolute, above 1 Year are CAGR.
*QRC Report Card data is updated quarterly. Current data is as of Oct 24.
