AMBIT Good & Clean


Key Portfolio Attributes

Inception Date: 12 March 2015

Number of Stocks: 13-18

Fund Manager Name: Aishvarya Dadheech

Fund Manager Experience: Total Exp – 12 Years With Ambit – 2 Years

Fund Manager Qualification: CFA charterholder, Chartered Accountant and MBA Finance.

Investment Objective

Equity exposure to Indian businesses that have an impeccable track record of clean accounting and governance, and efficient capital allocation.

Portfolio Strategy

Good

Selection of companies on the basis of capital allocation track record and quality of improvement in financial metrics over the past six years

 

• Clean

Selection of companies on the basis of the quality of their accounts and corporate governance.

The ‘Good’ strategy helps generate upside while not compromising on the ‘Clean’ strategy, which reduces downside risk. Essentially, while the objective is to generate returns, the even bigger goal is to better manage draw downs because the company believes doing the latter successfully is critically vital in achieving the former.

Ambit’s proprietary forensic accounting framework helps weed out firms with poor quality accounts while our proprietary greatness framework helps identify efficient capital allocators with a holistic approach to consistent growth. The result is a concentrated portfolio of 15-16 stocks that draws down lesser than the market in corrections and has low churn (not more than 15-20% of the portfolio in any year amounting to 2-3 holdings being replaced).

Our Analysis

Clean Companies Imply : 
No political connectivity | High corporate governance | Clean accounting | High Promotors integrity | Ethics never compromised | No related party transactions | No favours to relatives | No linkages to bureaucrats

 

Good Companies Imply : 
Focused capital allocation | High ROE | High ROCE | Oligopolistic nature of business | High Earnings | High Cash flows

 

What is the time horizon : Invest with Minimum 3-year horizon, ideally 5 year horizon.

 

Exit Load Structure : Zero Exit Load

 

We at PMS AIF World (www.pmsaifworld.com) do an unparalleled research, and suitability analysis. We recognize Ambit Good and Clean PMS as one of the right mid-cap investment products for informed investors.




Performance Table #


Trailing Returns (%) 1m return 3m return 6m return 1y return 2y return 3y return 5y return 10y return Since inception return
Portfolio3.5%8.8%7.2%6.0%27.5%19.3%15.3%-14.1%
Nifty Midcap 1006.2%11.3%11.5%10.8%37.4%26.2%11.5%12.2%



QRC Report Card *




VIEW DETAILED QUALITY, RISK, CONSISTENCY ANALYSIS

Portfolio Holdings


Holding %
KAJARIA CERAMICS LTD 7.00
AAVAS FINANCIERS LTD 7.00
P I INDUSTRIES LTD 6.00
TVS MOTOR COMPANY LTD 6.00
LAURUS LABS LTD 6.00
AXIS BANK LTD 6.00
PAGE INDUSTRIES LTD 6.00
AU SMALL FINANCE BANK Ltd 6.00
AARTI INDUSTRIES LTD 6.00
PVR LTD 5.00
ICICI LOMBARD GENERAL INSURANCE CO LTD 5.00
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LTD 5.00
PERSISTENT SYSTEMS LTD 5.00
SUPREME INDUSTRIES LTD 5.00
MphasiS Limited 5.00
TORRENT PHARMACEUTICALS LTD 5.00
Suven Pharmaceuticals Ltd 5.00
Top 17 Equity Holdings 91.00

Sector Allocation


Holding %
Homebuilding 11.00
Specialty Chemicals 12.00
Pharmaceuticals 13.00
Consumer Discretionary 17.00
Financial Services 27.00

Market Cap Allocation


Allocations %
Large Cap 26.0
Mid Cap 65.0
Small Cap 5.0
Cash 4.0


Do Not Simply Invest, Make Informed Decisions

WISH TO MAKE INFORMED INVESTMENTS FOR LONG TERM WEALTH CREATION

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Disclaimer

#Returns as of 31 Aug 2022. 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 22.




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