PMS AUM (in Rs. Cr)
5410

No. of PMS Products
0

No. of AIF Products
0

Data as of
31 Aug 2025

Investment DNA : What Makes Carnelian Different?

At Carnelian Asset Management Advisors, our unique investment philosophy is built on a foundation of rigorous analysis and a disciplined approach, setting us apart in the Indian equity landscape.

QGARP Lens : Quality, Growth, and Value Combined

Every Carnelian Asset Management Advisors portfolio is crafted with a Quality-Growth At Reasonable Price (QGARP) lens. This powerful blend is further refined with two distinct sub-cohorts:

CLEAR Forensic Screen : Uncompromising Due Diligence

Our proprietary CLEAR forensic screen is a five-point audit every company must pass. This stringent process ensures the highest standards of corporate governance and financial health:

Aggressive accounting practices or high leverage are automatic exclusions, safeguarding your investments from undue risk.

Risk Management : Three-Bucket Approach

We meticulously manage risk by breaking it down into three distinct buckets, ensuring a comprehensive and proactive approach:

This granular approach to risk management typically results in shallower drawdowns compared to benchmarks.

Concentrated Conviction : Deep Due Diligence

Our portfolios maintain a focused approach, holding approximately 20–25 stocks. This concentration is strategic:

Carnelian Asset Management Product Offerings : Tailored Investment Solutions

Explore our comprehensive suite of investment products designed to cater to diverse investment goals and risk appetites within the Indian equity market.

Robust Risk Framework Across All Strategies

All Carnelian strategies adhere to a clear and transparent risk framework to protect client capital:

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
Carnelian Capital Compounder Strategy Multi Cap15 May 20199005.29%24.58%23.44%23.57%-19.71%
Carnelian Capital Shift Mid & Small Cap06 Oct 20204400-2.75%22.40%29.31%--36.04%
Carnelian Capital Contra Portfolio Strategy Multi Cap27 Jan 2022110-15.69%26.98%29.13%--27.84%

Key People

Carnelian Asset Management Advisors is a distinguished boutique investment firm established in 2019, specializing exclusively in Indian equities. We’re proudly founder-owned and currently manage an impressive USD 1.3 billion (₹10,800 crore). Our leadership team brings decades of invaluable market and corporate-access experience:

vikas khemani1

Mr. Vikas Khemani
CFA: Ex-Edelweiss CEO

Bringing strategic vision and leadership.

Manoj

Mr. Manoj Bahety
CFA: A pioneer in forensic research

Ensuring robust due diligence

Supported by a dedicated 78-member team across seven Indian cities, we ensure comprehensive research, meticulous risk management, and efficient distribution. Our 100% internal ownership means our partners’ capital is invested alongside yours, guaranteeing full alignment of incentives.

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
Carnelian Capital Compounder Strategy 15 May 20199005.29%24.58%23.44%23.57%-19.71%
Carnelian Capital Shift 06 Oct 20204400-2.75%22.40%29.31%--36.04%
Carnelian Capital Contra Portfolio Strategy 27 Jan 2022110-15.69%26.98%29.13%--27.84%

Do Not Simply Invest, Make Informed Decisions

WISH TO MAKE INFORMED INVESTMENTS FOR LONG TERM WEALTH CREATION

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