| Alpha (1Y) | Beta (1Y) | Standard Deviation (1Y) | % of +ve Months (SI) |
|---|---|---|---|
| 12.87% | 0.98 | 11.90% | 71.83% |
ICICI Prudential PMS Contra Strategy
Key People
Anand Shah
CIO, Alternates
Geetika Gupta
Fund Manager
Chockalingam Narayanan
Senior Fund Manager
Investment Objective
ICICI Prudential PMS Contra Strategy aims to provide long term capital appreciation and generate returns by investing in underperforming stocks or sectors, which are available at intrinsic valuations and are expected to perform well in the long run. It seeks to generate capital appreciation by investing predominantly in Equity & Equity Related Instruments through contrarian investing. For defensive consideration, the Strategy may invest in debt and money market mutual fund schemes.
ICICI Prudential PMS Contra Strategy aims to identify tomorrow’s leaders by picking businesses that are benefitting from both earnings growth and P/E rating.
Investment Strategy
As the name suggests, the core motive of ICICI Prudential PMS Contra Strategy is to follow a contrarian approach to investing.
High Entry Barriers
• Businesses going through Unfavourable Business Cycle
• Competent players
• Survivors within the sectors
Industry Consolidation
• Industry challenges lead to reduction in players
• Distress exit of one, can lead to growth for another
Special Situations
• Mergers & Acquisitions
• Changes in subsidiary holdings
• Spin-offs in products or departments
Investment Framework
The core belief of ICICI Prudential PMS Contra Strategy is that Companies create wealth, not markets.
The investment framework of ICICI Prudential PMS Contra Strategy is to identify prominent businesses at reasonable valuations, which have competent management.
Prominent Businesses
• Company growing faster than industry &industry faster than market
• Qualitative assessment based on the concept of economic moats
• Foreseeable changes in business leading to a positive outcome
Reasonable Valuations
• Cash flow is central in our Investment Process about a company’s value
• Evaluation of margin of safety required according to the ‘moat’ and competence of management
• Better risk reward profile
Competent Management
• Focused on growth, improving margins &prudent capital allocation
• Competent managers with a credible track record
• Fair corporate governance standards, with aligned shareholder interests
Investment Philosophy
• A focused portfolio of investment ideas, agnostic to market capitalisations. ICICI Prudential PMS Contra Strategy aims to invest across market capitalisation.
• Optimal diversification across stocks, with the opportunity to be overweight vis-à -vis its benchmark, S&P BSE 200, on certain high conviction picks, to potentially generate higher alpha.
• In case of debt exposures, ICICI Prudential PMS Contra Strategy may invest in debt instruments through money market/liquid/short term mutual fund schemes of ICICI Prudential Mutual Fund.
• ICICI Prudential PMS Contra Strategy may not be restricted by any particular investment style and may opt for flexibility to select stocks across investment styles.
• ICICI Prudential PMS Contra Strategy may aim to use cash as a hedge against sharp declines in equity in an endeavour to protect the Strategy.
• ICICI Prudential PMS Contra Strategy aims to identify sectors or companies which are facing temporary headwinds
• ICICI Prudential PMS Contra Strategy aims to build a concentrated portfolio of high conviction ideas
Awards & Achievements
• In 2024, ICICI Prudential PMS Contra Strategy was awarded 2nd 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.
• In 2023, ICICI Prudential PMS Contra Strategy was awarded as the Best PMS across all categories, on a 1Y Risk-Adjusted Returns. These Awards were hosted by PMS AIF WORLD, in association with IIM-Ahmedabad.
• In 2021, ICICI Prudential Long Short Fund, a Cat III Long Short AIF, was awarded as the Best AIF in the Cat III Long Short category, on a 2Y Absolute Returns basis. 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 |
|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential PMS Contra Strategy | 3.44% | 6.10% | 20.74% | 45.77% | 39.31% | 26.36% | 28.61% | 23.90% | |
| BSE 500 TRI | 2.09% | 7.65% | 20.20% | 41.11% | 28.73% | 18.40% | 22.40% | 17.78% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential PMS Contra Strategy | Multi Cap | Anand Shah | 14 September 2018 | 6Y 1M | 9649.7 | BSE 500 TRI | 23.90% | 32 | 5 |
| 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 | 15.62% | 9.43% | 71.83% | 25.05% | 0.90 | 11.90% | 3.89 | 10.55% | 1.29 | 56.34 % |
| Nifty 500 | 7.48% | 5.39% | 12.87% | 0.98 | 8.70% | 1.16 | 56.34 % | |||
| Nifty Midcap 100 | -8.46% | 2.75% | -5.71% | 0.73 | 4.36% | 0.39 | 59.15 % | |||
| Nifty Smallcap 100 | -15.98% | -2.87% | -18.85% | 0.42 | 7.57% | 0.48 | 49.30 % | |||
VIEW DETAILED QUALITY, RISK, CONSISTENCY ANALYSIS
Portfolio Holdings
| Holding | % |
|---|---|
| Bharti Airtel Ltd | 7.76 |
| ICICI Bank Ltd | 6.95 |
| Larsen & Toubro Ltd | 6.50 |
| State Bank of India | 4.77 |
| Jindal Steel and Power Ltd | 4.21 |
Sector Allocation
| Holding | % |
|---|---|
| Banks | 24.04 |
| Ferrous Metals | 15.52 |
| Telecom - Services | 10.67 |
| Finance | 8.80 |
| Transport Services | 8.12 |
Market Cap Allocation
| Allocations | % |
|---|---|
| Large Cap | 62.60 |
| Mid Cap | 19.50 |
| Small Cap | 17.60 |
| Cash | 0. |
Do Not Simply Invest, Make Informed Decisions
WISH TO MAKE INFORMED INVESTMENTS FOR LONG TERM WEALTH CREATION
Book
a call with our PMS AIF Specialists
Disclaimer
#Returns as of 30 Sep 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 Jun 24.
