ASK India Select Portfolio (ISP)


Key Portfolio Attributes

Mr. Bharat Shah

Inception Date: 04th January, 2010

Executive Director, ASK Group: Mr. Bharat Shah

Portfolio Manager's Name: Mr. Chetan Thacker

Portfolio Manager's Experience: 11+ years

Portfolio Manager's Qualification: CFA from ICFAI and PGDBM from NMIMS

Investment Objective

ASK India Select Portfolio or ASK ISP PMS is designed to provide medium to long-term returns, by seeking to buy growth at value prices from a diversified portfolio of selected Indian equities with favorable long term prospects.

The two core objectives of this ASK India Select Portfolio or ASK ISP PMS are: Capital Preservation and Capital Appreciation over a period of time. This is achieved through long-term investments in high-quality companies with strong growth prospects.

Investment Attributes

The investment attributes of ASK India Select Portfolio or ASK ISP PMS are:

Size of the Opportunity

• Size of pond v/s size of fish
• Dominance
• Resilience
• Liquidity

Earnings Growth

• Quantum
• Consistency
• Durability
• Predating (Early v/s Later)
• Compounding power

Quality of the business

• High quality of business (Superior RoCE)
• Strong moat. Impregnability
• Sustainability
• Key pivot of strong wealth creation

Value

• Favorable Price-Value Gap
• Margin of safety

Investment Philosophy

ASK’s Advantage “Investing”, as Buffett says, “is simple but not easy”. It is the implementation of the simple things consistently and with discipline during all market conditions, that requires character, which makes all the critical difference. Core advantage lies in the disciplined and consistent execution of these ‘simple’ things and doing them well.Core philosophy at ASK Investment Managers revolves around two key aspects:

  1. First achieve capital protection (over time) and
  2. Follow it with capital appreciation.

Overarching Investing Philosophy and Principles

• Greater certainty of earnings v/s. mere quantum of earnings growth
• Superior and consistent quality of earnings v/s. mere quantum of earnings growth
• High quality at a reasonable price v/s. inferior quality at an arithmetically ‘cheap’ price

Investment Strategy

For ASK India Select Portfolio or ASK ISP PMS, size of opportunity matters. The strategy is an electic mix of: size of opportunity, earnings growth, quality of the business, and price-value gap. Good Management is an attribute which is a given constant. The ultimate aim is to achieve an overall optimal bend within the portfolio mix.

The Investment Approach Research Methodology & Filtration for ASK India Select Portfolio or ASK ISP PMS is:

• Universe of Top 500 as per market capitalization

• Filter companies that have a PBT of above INR 75 crores for trailing 4 qtrs (at the time of 1st investment)

• Subjective evaluation on management quality, their integrity, vision, past track record, execution, capital allocations and distribution skills, corporate governance standards, and so on

• Filter for selection of stocks – Minimum 15% earnings growth over the next 3 to 5 years without capital dilution, and Quality of business (capital efficiency) – minimum ROCE of 20%

• The businesses that remain after passing through the above filters, become a part of the ASK India Select Portfolio or the ASK ISP PMS

Awards & Achievements

• In 2023, ASK Indian Entrepreneur Portfolio or ASK IEP PMS was awarded Rank #3 as the Best PMS across all categories, on a 10Y Risk-Adjusted Returns. These Awards were hosted by PMS AIF WORLD, in association with IIM-Ahmedabad.

• In 2021, ASK Indian Entrepreneur Portfolio or ASK IEP PMS was awarded Rank #2 as the Best PMS across all categories, on a 10Y Risk-Adjusted Returns. These Awards were hosted by PMS AIF WORLD, in association with IIM-Ahmedabad.

• In 2021, ASK Indian Entrepreneur Portfolio or ASK IEP PMS was awarded Rank #2 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.




Performance Table #


Trailing Returns (%) 1m return 3m return 6m return 1y return 2y return 3y return 5y return 10y return Since inception return
ASK India Select Portfolio (ISP)-5.8%-10.2%-6.5%-9.4%8.2%7.5%6.9%16.8%14.6%
BSE 500-3.4%-3.3%1.8%0.3%15.0%14.9%9.1%12.0%9.9%



QRC Report Card *




VIEW DETAILED QUALITY, RISK, CONSISTENCY ANALYSIS

Portfolio Holdings


Holding %
BAJAJ FINANCE LTD 6.95
ICICI BANK LTD 6.83
BAJAJ FINSERV LTD 5.77
POLYCAB INDIA LTD 5.69
P I INDUSTRIES LTD 5.65
APL APOLLO TUBES LTD 5.64
RELIANCE INDUSTRIES LTD 5.28
TITAN COMPANY LTD 4.93
AU SMALL FINANCE BANK LTD 4.88
NAVIN FLUORINE INTERNATIONAL LTD 4.80
INFOSYS LTD 4.77
Patanjali Foods Limited 4.65
DIXON TECHNOLOGIES INDIA LTD 4.03
DIVIS LABORATORIES LTD 3.99
ASIAN PAINTS LTD 3.98
PAGE INDUSTRIES LTD 3.56
AARTI INDUSTRIES LTD 3.21
DALMIA BHARAT LTD 3.11
SONA BLW PRECISION FORGINGS LTD 3.06
BHARTI AIRTEL LTD 3.01
HDFC LIFE INSURANCE COMPANY LTD 2.49
Bharti Airtel Ltd PP 2.03
AARTI PHARMALABS LIMITED 0.29
Top 23 Equity Holdings 98.60

Sector Allocation


Holding %
Retail 0.78
Staffing 1.49
Banks 2.34
Insurance 2.84
Insurance 2.99
Banks 3.09
Cement 3.09
FMCG 3.12
Auto Oem 3.31
Retail 3.42
FMCG 3.78
Pharma 3.79
Home Decor 3.85
Consumer Durables 4.04
Retail 4.17
Oil & Gas 4.20
Banks 4.35
Others 4.61
Chemical 4.61
Information Technology 5.03
Pipes 5.05
Agri Chemicals 5.25
Pharma 5.48
Insurance 6.49
NBFC 8.05

Market Cap Allocation


Allocations %
Large Cap
Mid Cap
Small Cap
Cash


Do Not Simply Invest, Make Informed Decisions

WISH TO MAKE INFORMED INVESTMENTS FOR LONG TERM WEALTH CREATION

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From the Founders & Managers of ASK PMS

What to expect from ASK Indian Select Portfolio (ASK ISP) PMS?

ASK Indian Select Portfolio (ASK ISP) is a best ideas portfolio representing all the key value-creating attributes. The portfolio represents an eclectic mix of:

  • Size of opportunity
  • Earnings growth
  • Quality of the business
  • Price-value gap

The portfolio aims to achieve an overall optimal blend. Also, important to note that, quality of management remains at the highest level.

Who should invest in ASK Indian Select Portfolio (ASK ISP) PMS?

Our current clients include High Networth Individuals (HNIs), Ultra HNIs, Institutions, Pension Funds, Endowments, Sovereign Wealth Funds, Family offices, multi managers, etc. Clients who have an appetite to invest in Indian equities with a long-term investment horizon are ideally suited for investments in this portfolio.

Which is the best company through which an investor can invest in ASK India Select Portfolio (ISP)?

We recommend PMS AIF WORLD, because, it is one unique platform that offers real knowledge driven investing with their highly meaningful data, reports, and content that is written very well. PMS AIF World is a team of highly articulate, educated, and experienced people.



Disclaimer

#Returns as of 31 Jan 2023. Returns up to 1 Year are absolute, above 1 Year are CAGR.

*QRC Report Card data is updated quarterly. Current data is as of Dec 22.




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