Right Horizons Minerva Under Served PMS


Key Portfolio Attributes

Inception Date: 01st April, 2011

Portfolio Manager’s Name: Mr. Piyush Sharma

Portfolio Manager’s Qualification: MBA from University of North Carolina at Chapel Hill, MS from MNNIT, and BS in Accounting from University of Allahabad

Investment Objective

Attempts to screen companies that have, in their view, the largest real business upside within listed equities. These names are then run through their extensive forensic framework to be identified for an in-depth engagement. They become prospective candidates for a portfolio that is typically comprised of 10-20 names. It is a strategy that focuses on delivering superior risk adjusted returns by primarily targeting under institutionalized names without associated volatility. It aims to create a book that possesses superior cash flow growth over meaningful periods.

Portfolio Strategy

Low vol: Despite having camped in the small and micro cap space for 8+ years, the strategy prides itself in having annualized volatility in line with that of Nifty 50. Ability to identify bottom-up opportunities: Nearly 3/4th of all securities ever picked have outpaced broader indices and immediate industry peers. 

The strategy focuses on businesses within most underpenetrated categories, which have the largest potential to come in line with G7 levels Concentrated holding typically between 12-16 stocks. The portfolio has a very low churn, with very high-conviction top-5 positions typically making 40%+ of the book. In periods when small caps are declining, the strategy significantly outperforms and draws down much less vs. the small cap index, despite the composition of small-cap stocks in the portfolio.

 




Performance Table #


Trailing Returns (%) 1m return 3m return 6m return 1y return 2y return 3y return 5y return 10y return Since inception return
Portfolio6.5%13.8%23.6%20.5%59.2%43.0%20.1%21.3%18.9%
BSE Small Cap5.9%8.7%7.5%6.4%44.2%31.7%12.7%16.4%10.9%



QRC Report Card *




VIEW DETAILED QUALITY, RISK, CONSISTENCY ANALYSIS

Portfolio Holdings


Holding %

Sector Allocation


Holding %

Market Cap Allocation


Allocations %
Large Cap 1.1
Mid Cap 31.2
Small Cap 55.9
Cash 11.8


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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 Mar 22.




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