Compounding wealth through market cycles

Key Attributes

Inception Date: 15 May 2019

Number of Stocks : 20 -25

Fund Manager: Mr. Manoj Bahety and Mr. Sachin Jain

Fund Manager Qualification: Manoj Bahety - CA, CFA(USA) and Sachin Jain – CA

Fund Manager Experience: Manoj Bahety - ~20 years and Sachin Jain - ~18years

Investment Objective

The investment objective of the Carnelian Capital Compounder Fund-1 is to generate long-term sustainable alpha across market cycles through

  1. Focus on fundamental driven growth investing
  2. Bottom up stock picking using our unique “PIU Framework”
  3. Long term, multi-cap, sector agnostic investing

Investment Universe – Indian listed equities. We constantly scan our universe to find ideas

which meets our MCO framework (explained later), Internal rating scorecard – PIU & Risk framework.

Investment Philosophy

  1. We believe investing success is an outcome of making good decisions consistently over a long period of time.

 – good decisions are those which are made “objectively, free of any bias”, considering “probability of outcome” and factoring “risk reward”.

  1. We believe in investing in good growth businesses, managed by great managements at fair valuation
  2. We believe margin of safety does not necessarily lie only in price, but can be sought in detailed work
  3. We believe one can never make money on borrowed conviction.
  4. We are happy to be contrarian when risk reward is compelling: mimicking herd = regression to mean
  5. We believe in being patient and long term. Investing is like watching grass grow.
  6. We prefer definite returns over immediate returns
  7. We don’t mind sitting on cash if we can’t find a better use

Investment Strategy

  1. Long only, multi-cap and sector agnostic strategy
  2. Aim to generate sustainable alpha & compound capital through our unique MCO framework

  – unique & unconventional blend of companies – Magic (accelerated growth), Compounder (stable growth) & Opportunistic

  1. Focused on fundamental driven growth investing; bottom up stock picking
  2. Unique forensic framework “CLEAR” help avoid accidents
  3. Portfolio of carefully selected 20-25 stocks


Do Not Simply Invest, Make Informed Decisions

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Don’t Just Invest. Make an Informed Decision.