Invest in businesses having potential to revive growth and create value

Key Attributes

Fund Manager Name: Anup Maheswari & Mitul Patel

Fund Manager Qualification:

Anup Maheshwari is the Chief Investment Officer and Joint – Chief Executive Officer of IIFL Asset Management. Anup is responsible for the investment and strategy for IIFL AMC’s business including mutual funds and Alternative Investment Funds (AIFs). He plays a key role in meeting the company’s aggressive growth goals as well as product development and devising an innovative investment strategy.

An alumnus of the Indian Institute of Management, Lucknow, he has over 25 years of work experience in the financial services sector. Prior to joining IIFL Asset Management Limited, he has been associated with DSP Investment Managers Private Limited (formerly known as DSP BlackRock Investment Managers Private Limited) for over 21 years as an Executive Vice President & Chief Investment Officer. He was also associated with HSBC Asset Management (India) Private Limited & Merrill Lynch India Equities Fund (Mauritius) Limited.


Anup was the chief investment officer at HSBC Asset Management between December 2005 and May 2006 before returning to DSP Investment Managers. Prior to joining DSP Investment Managers, he had worked for Chescor, a British fund management firm that used to run three offshore funds investing in Indian equities. Mitul has an overall experience of 14 years across areas of research, fund management, private equity advisory and investment banking. Apart from managing the strategies of Portfolio Management Services offered by IIFL AMC, he also heads research for listed equities and is responsible for generating investment ideas across sectors and market capitalizations. He has been instrumental in setting up the research desk at IIFL AMC and also directly tracks companies in the chemicals, auto and pharma sectors.

Fund Manager Experience:

Anup brings 25 years and Mitul Patel brings 14 years

Investment Objective

IIFL Phoenix Portfolio intends to create a portfolio of such businesses with an established track record, which have the potential to see a sharp improvement in fundamentals in the future.

Investment Strategy

  • IIFL Phoenix Portfolio intends to create a portfolio of such businesses with an established track record, which have the potential to see a sharp improvement in fundamentals in the future.

Investment Philosophy

  • The investment strategy of IIFL Phoenix PMS is to invest in a portfolio following the SCDV framework (Secular, Cyclical, Defensives, Value Trap) wherein it invests in businesses having long-term track record where profitability and growth have been impacted by short term cycles.
  • Businesses usually may witness cycles of disruption or downturns due to many factors. Firms counter-act to these downturns to stabilize business by acting on suitable strategic, organizational, operational or financial changes. The investment manager would target such opportunities having long-term mean reversion capability, having potential for sharp improvement in fundamentals. Portfolio construction shall have higher proportion in the three quadrants, Cyclical, Defensive and Value Trap where portfolio securities may have the trajectory of PAT and ROE growth to move to Secular quadrant.

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