ASK Investment Managers (ASK IM) is among India’s earliest SEBI-licensed Portfolio Management Services (PMS) firms and one of the country’s larger discretionary equity PMS providers. With a three-decade investing legacy, a disciplined research process, and a sharp focus on quality businesses, ASK IM aims to deliver consistent, long-term wealth creation for HNIs, UHNIs, and family offices

PMS AUM (in Rs. Cr)
15092

No. of PMS Products
6

No. of AIF Products
2

Data as of
31 Aug 2025

PMS Product Performance

Company Name /
Product Name		 Category Date of inception AUM 1y return 2y return 3y return 5y return 10y return Since inception return
ASK Emerging Opportunities Portfolio (EOP) Mid & Small Cap24 Aug 2017551-7.10%9.60%11.70%17.10%-11.40%
ASK Growth Portfolio Multi Cap29 Jan 20011306-9.70%9.80%9.40%14.40%11.60%18.00%
ASK India Select Portfolio (ISP) Multi Cap04 Jan 20101558-10.40%7.90%8.70%13.50%10.20%14.40%
ASK Indian Entrepreneurship Portfolio (IEP) Multi Cap25 Jan 201011677-3.00%8.50%9.50%16.30%12.20%16.40%

Key Highlights (At a Glance)

Established pedigree

Incorporated in 1994, among the first to receive a SEBI PMS license in 1995

Scale & leadership

~₹25,000+ crore in total assets across PMS and advisory; among the largest discretionary equity PMS providers in India

Global footprint & milestones

Singapore presence (2011), GIFT City approval (2020; first PMS house to be approved), UCITS structure launched in Feb 2023 (Ireland), and majority stake acquired by Blackstone in 2022

Performance lineage

The firm highlights a long track record for its flagship legacy portfolio; e.g., ₹1 crore invested in Jan 2001 would be ₹59.7 crore as of June 2025 (vs ₹34.3 crore for BSE 500), illustrating historical alpha generation

Institutional backing

Blackstone is positioned as the world’s largest alternative asset manager with US$1Tn+ in AUM and 60+ investing strategies, bringing global process rigor and governance pedigree to the platform

Experienced team

Led by CIO & CEO (Equity) George Heber Joseph, supported by Deputy CIOs, Portfolio Managers, and a research bench with 150+ years of cumulative experience

Investment Philosophy: F.O.C.U.S

ASK IM’s philosophy is distilled into F.O.C.U.S — a framework designed to seek durable compounding through high-quality companies:

F – Fundamentals

Verifying the authenticity and sustainability of cash flows.

O – Opportunity

Large, scalable profit pools with secular growth tailwinds.

C – Cycles

Awareness of business/market cycles and capital allocation discipline.

U – Unmatched Moats

Brand, tech, network effects, scale, and regulatory advantages.

S – Stewardship

Governance quality, prudent management, long-term value creation

This philosophy is implemented through proprietary research and valuation disciplines to target attractive entry points and a margin of safety

Research Process & Risk Discipline

1. Proprietary frameworks:

● ABCD Quality Grading (data-driven assessment across governance, industry/company structure, performance, balance sheet health), and
● Fair Value Framework (intrinsic value anchoring using earnings/multiple estimates with cycle awareness and macro context)

2. Process strengths & risk controls:

1. In-house research with deep company interactions (6–8 per portfolio company per year).
2. Integrated buy/sell discipline and ongoing risk review across the investment life cycle.
3. Emphasis on governance, valuation discipline, and portfolio construction to mitigate drawdowns while pursuing long-term returns

3. Management framework (M–F–S):

Macro inputs, Fundamentals screening (top 750), and Sentiment/Technical overlays to harmonize top-down context with bottom-up stock selection

Where ASK IM Looks for Opportunity (Illustrative Themes)

ASK IM’s philosophy favors scalable, formalizing, or efficiency-enhancing profit pools. The decks outline multiple India growth vectors that expand investible universes over the medium term:

Infrastructure upcycle

Capex as % of GDP has risen materially in recent years, supporting multi-segment demand from roads/rail to ports and airports

Digital & data centers

Multi-fold growth in capacity with high utilization, reflecting structural digitization and cloud/data tailwinds

Financialization & MF penetration

Long runway for AUM-to-GDP and retail participation growth, aiding financials and asset-gatherers over time.

Defence manufacturing

Domestic capex and export opportunity with import substitution; sector CAGR expectations highlighted through FY24–FY30E

Auto energy transition

EV + CNG share in PVs projected to rise materially by FY30E, creating new value chains

Textiles & Gems/Jewellery

Formalization and organized share gains supported by policy, FTAs, brand, and quality shift in retail

Consumer & cyclicals

Cycle-aware stance — studying how ROE/asset quality cycles can drive re-rating/derating across FMCG, bank, oil & gas, etc.

Milestones & Global Platform

1994–1995 2001 2011 2020 2022 2023
Incorporation and SEBI PMS license Launch of the flagship PMS Singapore presence established First PMS house to receive GIFT City approval Blackstone acquires majority stake UCITS structure launched (Ireland)

Who Chooses ASK IM

Investors seeking quality-biased, benchmark-aware compounding with robust governance and valuation discipline — typically HNIs, UHNIs, and family offices looking for a long-term, research-led PMS partner

Disclaimers & Regulatory

1. SEBI Registration: INP000008066

2. Performance/firm data points shown are as stated in the decks and as of the dates mentioned therein (e.g., 30 June 2025, where specified) and are not verified by SEBI; past performance is not indicative of future results

3. Comparative PMS performance (as per SEBI circular) is available via the APMI portal referenced in the deck

Content Reviewed by: Mr Kamal Manocha ( CEO and Chief Strategist).

All PMS performance data used on this page has been sourced from the official Association of Portfolio Managers in India (APMI) portal.

Verified at: https://www.apmiindia.org/apmi/welcomeiaperformance.htm?action=PMSmenu

PMS Product Performance

Company Name /
Product Name		 Date of inception AUM 1y return 2y return 3y return 5y return 10y return Since inception return
ASK Emerging Opportunities Portfolio (EOP) 24 Aug 2017551-7.10%9.60%11.70%17.10%-11.40%
ASK Growth Portfolio 29 Jan 20011306-9.70%9.80%9.40%14.40%11.60%18.00%
ASK India Select Portfolio (ISP) 04 Jan 20101558-10.40%7.90%8.70%13.50%10.20%14.40%
ASK Indian Entrepreneurship Portfolio (IEP) 25 Jan 201011677-3.00%8.50%9.50%16.30%12.20%16.40%

Do Not Simply Invest, Make Informed Decisions

WISH TO MAKE INFORMED INVESTMENTS FOR LONG TERM WEALTH CREATION

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Products

ASK Investment Managers
ASK Investment Domestic
ASK Investment Managers
ASK Lighthouse Portfolio
ASK Investment Managers
ASK Absolute Return Fund
ASK Investment Managers
ASK Golden Decade Fund Long Only Category III AIF
ASK Investment Managers
ASK India Select Portfolio (ISP)
ASK Investment Managers
ASK Emerging Opportunities Portfolio (EOP)
ASK Investment Managers
ASK Investment Managers – Growth Portfolio
ASK Investment Managers
ASK Indian Entrepreneur Portfolio – IEP PMS

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