ASK Investment Managers | PMS AIF
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ASK Investment Managers | PMS AIF
Portfolio of Large and Growing Companies with Promotors Significant Skin inthe Game
Key Attributes
- Inception Date: 25 January 2010
- Number of Stocks: 19
- Fund Manager Name: MrSumit Jain
- Fund Manager Experience: Total Exp – 12 Years, With ASK – 11 Years
- Fund Manager Qualification: Post Graduate in Management from Mumbai University.
Investment Objective
The concept of ASK IEP PMS invests in Indian entrepreneurs with adequate ‘Skin in the Game’ who have demonstrated high standards of governance, vision, execution, wisdom, capital allocation, and capital distribution skills. They run businesses that are amongst the highest long-term earnings growth.
Investment Philosophy
1) ASK IEP PMSidentifies large and growing business opportunities with competitive advantage that are significant sized (min Rs. 100cr of PBT)
2) The quality of the business should be good to be able to fund strong growth through internal cash generation. So, it looks for 20% compounded growth from each business and targets over 25% growth from the portfolio
3) To fund this growth, the business ROCE should be over 25% so that growth can be funded and there are surpluses for dividend
4) The management should have the drive and have skin in the game to deliver compounded growth period after period (uncompromised corporate governance is a must). Hence, invest into businesses with an identifiable business house at helm with minimum 25% stake.
5) We seek to identify such businesses at reasonable discount to value and stay invested for a length of time and make money as EPS compounds.
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.
Investment Philosophy - Core philosophy at ASK IEP PMS Investment Managers revolves around two key aspects:
- First achieve capital protection (over time) and
- Follow it with capital appreciation.
Seeks to invest in Indian equities that run high quality businesses, operated by a high-quality management, enjoying sustained long-term growth prospects at fair and reasonable prices.
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
Key Investment Attributes
IEP - Portfolio Research Methodology and Filtration
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