About Sameeksha Capital Equity PMS
Sameeksha Capital provides Wealth Management as well as Equity portfolio management (PMS) services to discerning Institutions, entrepreneurs, families and Individuals. They have made upfront investments to develop best-in-class research capabilities and time tested processes. When a capable team follows such processes, they are likely to deliver differentiated as well as valuable outcomes for their clients. Transparency, Integrity, Objectivity and Hard Work are at core of their value system. Most importantly, they believe in being rewarded for performance above everything else.
Key People
Mr. Bhavin Shah
Founder
Investment Strategy of Sameeksha Capital PMS
Sameeksha Capital Equity PMS aims to amalgamate 4 core beliefs of Opportunity, Competence, Portfolio Discipline, and Values, to create a concentrated fund of 15-25 businesses that:
1. Will deliver growth based on end market and market share gain opportunities
2. Have a Clear and sustainable Competitive advantage in the form of pricing power, cost structure, and capital efficiency
3. Are run by Competent Management with sufficient bandwidth and depth
4. Follow conservative accounting practices and have taken sound capital allocation decisions
5. Pass a stringent corporate governance checklist
6. Are likely to deliver sufficient ROIC as well as growth in revenue, earnings and cash flow
7. Have relatively low dependence on capital markets
8. Can deliver sufficient returns adjusted for risks and liquidity premium over a period of 3-5 years
Selective Opportunistic Investments
A portion of the fund may be invested in companies that are turnaround situations or cyclical businesses available at a discount to replacement value, and these companies may not entirely meet the above criteria.
Risk Management and Portfolio Construction
Portfolio risk for Sameeksha Capital Equity PMS is managed through diversification as well as through exits from overpriced stocks. Portfolio construction based on defined limits on individual position size as well as liquidity-based exposure. Focus on loss minimization and absolute return.
This portfolio is well-diversified, built around aspiring leaders, and follows a selective, contrarian approach to sector allocation—often positioning as one of the earliest investors in emerging opportunities.
Investment Framework
- Sameeksha Capital Equity PMS has a flexible & valuable investment framework. Absolute Return focus with flexibility to reduce equity exposure • Can take large cash positions or deploy other methods to reduce equity exposure in extreme market conditions • Buy Sell framework also affects cash levels and sets up to end up at least in some cash when valuations are at extreme Focus on Growth available at genuine value or pure value with a clear objective to generate target returns 1. Buy only expected returns meet the risk adjusted hurdle rate 2. Expected return based on very elaborate FCF or excess ROE model 3. Do not stay invested if stock crosses the price objective Alignment of Interests • Portfolio Manager invests in listed Indian equities only through Sameeksha’s equity schemes with no side pocket • Additional Return allocation method is fair with concepts such as cumulative hurdle not commonly seen with other AIFs
Performance Table
| Trailing Returns (%) | 1m return | 3m return | 6m return | 1y return | 2y return | 3y return | 5y return | 10y return | Since inception return |
|---|---|---|---|---|---|---|---|---|---|
| Sameeksha Capital Equity Fund | -1.90% | 8.70% | 11.50% | 8.70% | 26.30% | 29.30% | 31.20% | - | 22.80% |
| BSE 500 TRI | -2.70% | 4.40% | 6.70% | -2.10% | 16.60% | 16.90% | 21.70% | - | 15.90% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Sameeksha Capital Equity Fund | Multi Cap | Mr. Bhavin Shah | 01 April 2016 | 9Y 4M | 1116.36 | BSE 500 TRI | 22.80% | 43 | 6 |
| Index | Portfolio Quality (Q) | Portfolio Risk (R) | Portfolio Consistency (C) | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Category Alpha (1Y) | Relative Alpha (1Y) | % of +ve Months (Fund Data) |
Alpha (1Y) (Fund Data) |
Beta (1Y) (Fund Data) |
Standard Deviation (1Y) (Fund Data) |
Sharpe Ratio (1Y) (Fund Data) |
Alpha (SI) | Information Ratio (SI) | Consistency Ratio % | |
| Nifty 50 | 9.81% | -1.23% | 67.26% | 8.58% | 0.81 | 13.05% | 0.32 | 9.49% | 0.83 | 59.29% |
| Nifty 500 | 10.35% | 0.12% | 10.47% | 0.75 | 8.23% | 0.83 | - | - | - | 63.72% |
| Nifty Midcap 100 | 5.23% | 5.32% | 10.55% | 0.61 | 5.28% | 0.50 | - | - | - | 56.64% |
| Nifty Smallcap 100 | 10.87% | 3.10% | 13.97% | 0.57 | 7.80% | 0.61 | - | - | - | 53.98% |
