PMS Navigator February 2019|Issue 29sainathinvestment.com/wp-content/uploads/2019/02/PMS...Our...

February 2019|Issue 29

PMS Navigator

Benefits of Investing through PMS platform

Fund manager & managed PMS Strategies

Performance update of PMS offerings

Portfolio Analysis & Fees Structure

Benefits of Investing through PMS platformBenefits of Investing through PMS platform

o Value proposition for Investors

o PMS Strategies revolve around

Value proposition for Investors

Professional Management services

Consistent Alpha on benchmark

Managed Risk + Liquidity

Focused Strategies

(build around 15 to 25 stocks)

Consistent to Investment Style

Low Portfolio Churn

High engagement & transparency

Customization of fees

(Fixed Fees model or Profit sharing model)

Po

rtf

oli

o M

an

ag

em

en

t S

er

vic

es

Suitable for HNIs,

corporates, NRIs (except

USA & Canada).

Long term investment

Horizon 3 to 5 years.

Investment done

through cheque or

stock transfer.

PMS Strategies revolve around….

Earnings Growth

Longevity

ValuationQuality of Managem

ent

Margin of Safety

Size of opportuni

ty

Solid Business Model

Own Skin in the Game

Credit & investment cycle

Demand recovery

Fund manager & managed PMS Strategies

o Fund Manager & managed PMS strategy.

o Our bouquet of PMS offerings

Fund Manager & managed PMS strategy

ASK Investment Managers - India Entrepreneur Portfolio.

MOAMC PMS:- We have offering of MOAMC’s 6 portfolios: Dynamic Allocation PMS | Value Strategy | India Opportunity Portfolio | Next

Trillion Dollar Opportunity Strategy | India Opportunity Portfolio V2 | Business Opportunity Portfolio

Raamdeo Agrawal Co-Founder & Joint MD,

MOFSL

Manish SonthaliaHead Equity PMS & AIF,

MOAMC (Fund Manager)

Bharat ShahExecutive Director,

ASK Group

Prateek AgarwalBusiness Head & CIO,

ASK Investment Managers

Sumeet JainPortfolio Manager,


Shrey LoonkerFund Manager, MOAMC

Taher BadshahCIO-Equities,

INVESCO India

INVESCO India Investment Managers-DAWN PMS

Pankaj MurarkaFounder & CIO,

Renaissance Investment Managers

Amit NigamFund Manager, INVESCO India

Our bouquet of PMS offerings

Data as on 31st January 2019

VALUE NTDOP IOP IOP V2 BOP IEP D.A.W.NRenaissance Midcap

Portfolio

Renaissance Opportunity

Portfolio

AMCMotilal Oswal

AMCMotilal Oswal

AMCMotilal Oswal

AMCMotilal

Oswal AMCMotilal Oswal

AMC


Invesco Asset Management

Renaissance IM Renaissance IM

Fund Manager Shrey LoonkerManish

SonthaliaManish

SonthaliaManish

SonthaliaManish

Sonthalia

Prateek Agarwal

Taher BadshahPankaj Murarka Pankaj Murarka

Sumeet Jain Amit Nigam

AUM (Cr.) Approx.

2,146 8,134 3,283 500 189 6,804 508 23 18

Earning Growth Style

Superior Business Model

Quality of Management

Company's Promoter

Stake

Valuation

Focused Portfolio

No. of Stocks 22 26 24 20 22 19 21 17 14

Market Cap Style

Large Cap Multi Cap Mid & Small

CapMid & Small

CapMulti Cap Multi Cap Multi Cap Mid Cap Multi Cap

(52L : 49 M&S) (49 L : 48 M&S) (72L: 28 M&S) (61L : 32 M&S)

Investment Style

Medium Medium High High Medium MediumMedium to

HighHigh Medium

Portfolio Management Services

o MOAMC Dynamic Allocation PMS (New Fund Offering)

o Renaissance Midcap Portfolio

o Renaissance Opportunity Portfolio

o MOAMC Value

o MOAMC NTDOP

o MOAMC IOP

o MOAMC IOP V2

o MOAMC BOP

o ASK IEP

o Invesco DAWN

• It dynamically allocates between equity and fixed income

instruments thus reducing the volatility compared to equity only

portfolio.

• Uses our proprietary MOVI index to calibrate exposure to equity as

per changing market valuations.

• MOVI is calculated taking into account Price/Earnings, Price/Book

and Dividend yield of Nifty 50 index.

• While Equity POWERS creation of wealth, Fixed Income aims to

PROTECT from downside during market corrections and short

term volatility.

• The asset allocation shall be reviewed twice a moth (5th and 20th

of the month) and there may be additional rebalancing at the

discretion of the Fund Manager.

• It endeavours to construct a portfolio that is best suited for

medium to long term.

Above table is only for illustration purposeSource: MOAMC | Data as on 30th October 2018

MOVI Levels PMS Strategy Allocations

Equity

Less than 70 100%

70 <80 90-95%

80 <90 80-85%

90 <100 70-75%

100 <110 55-60%

110 <120 40-45%

120 <130 30-35%

130 or above 30-35%

Since Inception NTDOP NTDOP Dynamic

Returns 17.50% 15.95%

Volatility 14.83% 8.82%

Motilal Oswal Dynamic Allocation PMS (New Fund Offering)

Renaissance Midcap Portfolio

• Sustainable Quality Growth at Reasonable Price (SQGARP)

• The fund invests into midcap companies that can become large caps in

the future.

• It aims to identify high growth business at an early stage of their life

cycle and staying invested in them over a long period of time.

• Focused on companies with business leadership and it is a low

mortality portfolio

• It comprises of 17 stocks

Inception Date Benchmark Fund Manager

01-Jan-18Nifty Free Float

Midcap 100Mr. Pankaj Murarka

Portfolio (Top 10 Stocks)

Scrip Name (%) of Market value

Syngene International Ltd 9.00

DCB Bank Ltd 8.00

Federal Bank Ltd 8.00

Info Edge (India) Ltd 7.00

Team Lease Services Ltd 6.00

Aditya Birla Fashion & Retail Ltd 5.00

Motilal Oswal Financial Services Ltd 5.00

Bank of Baroda 4.00

Indian Hotels Co Ltd 4.00

Kolte Patil Developers Ltd 4.00

Top 5 sectors

Sector Name (%) of Market value

Banking & Finance 33.00

Pharmaceuticals 9.00

FMCG 9.00

Hotels 8.00

Capital Goods & Engineering 7.00

Source: Renaissance IM | Data as on 31st January 2019

Performance(%ge) Value of 1 cr. Invested

PeriodRenaissanceMidcap PMS

Nifty Midcap

100

RenaissanceMidcap PMS

Nifty Midcap

100

1 Month 0.21 -5.43 1.00 0.95

3 Months 2.60 -1.65 1.03 0.98

6 Months -6.63 -10.45 0.93 0.90

1 Year -8.49 -18.67 0.92 0.81

Since Inception -10.38 -19.92 0.89 0.79

Renaissance Opportunity Portfolio

• Sustainable Quality Growth at Reasonable Price (SQGARP)

• A concentrated portfolio that invests in companies across

businesses which are at different states of their business lifecycles

capable of delivering sustainable, market-leading growth and are

at a reasonable prices.

• The portfolio is built on best opportunity basis to achieve superior

returns over medium term.

• Comprises of 14 stocks


01-Jan-18 Nifty 200 Mr. Pankaj Murarka



Axis Bank Ltd 8.00

Info Edge (India) Ltd 8.00

State Bank of India Ltd 8.00

Reliance Industries Ltd 7.00

Sun Pharmaceuticals Industries Ltd 7.00

Aditya Birla Fashion & Retail Ltd 6.00

HDFC Bank Ltd 6.00

Kotak Mahindra Bank Ltd 6.00

Tata Motors Ltd 6.00

Divis Laboratories Ltd 5.00

Top 5 sectors




IT Consulting & Software 12.00

FMCG 11.00

Oil & Gas 7.00

Source: Renaissance IM | Data as on 31st January 2019.


PeriodRenaissance

Opp PMSNifty 200

RenaissanceOpp PMS

Nifty 200

1 Month 3.82 -1.54 1.04 0.98

3 Months 2.61 3.06 1.03 1.03

6 Months -0.63 -6.06 0.99 0.94

1 Year 1.21 -5.23 1.01 0.95

Since Inception 1.34 -1.84 1.01 0.98

MOAMC Value Strategy

• Buy Right & Sit Tight approach to stock investing

• Value PMS has delivered 22.11% annualized returns since

inception versus 16.12% of Nifty 50; INR 1 Cr. invested in Value

PMS in March 2003 is worth INR 23.79 Cr versus INR 10.71 Cr. in

Nifty 50.

• Focused portfolio approach, currently strategy has 22 stocks in its

portfolio.


PeriodValue

StrategyNifty 50

ValueStrategy

Nifty 50

1 Month -4.00 -0.29 0.96 1.00

3 Months 2.89 4.28 1.03 1.04

6 Months -9.40 -4.63 0.91 0.95

1 Year -10.00 -1.78 0.90 0.98

2 Years 5.65 12.48 1.12 1.27

3 Years 8.62 12.71 1.28 1.43

4 Years 2.35 5.30 1.10 1.23

5 Years 14.68 12.21 1.98 1.78

Since Inception 22.11 16.12 23.79 10.71


25-Mar-03 Nifty 50 Index Mr. Shrey Loonker



HDFC Bank Ltd. 12.35

Kotak Mahindra Bank Ltd. 9.25

Bajaj Finserv Ltd. 7.07

ICICI Lombard General Insurance Ltd. 6.52

BPCL Ltd. 6.45

Larsen & Toubro Ltd. 6.05

Bharat Forge Ltd. 4.78

Eicher Motors Ltd. 4.54

ICICI Bank Ltd. 4.54

Maruti Suzuki India Ltd. 4.31

Top 5 sectors



Auto & Auto Ancillaries 15.94

Oil and Gas 9.82

Engineering and Electricals 6.05

FMCG 3.07

Source: MOAMC | Data as on 31st January 2019

MOAMC Next Trillion Dollar Opportunity Strategy (NTDOP)

• The strategy aims to deliver superior returns by investing in

focused themes which are part of the next trillion dollar GDP

growth opportunity. It aims to predominantly invest in Multi Cap

stocks with a focus on identifying emerging stocks/ sectors.

• Themes: CONSUMPTION | BANKING & FINANCIAL SERVICES |

INFRASTRUCTURE & RELATED SERVICES.

• The portfolio consist of 26 stocks.

• In last 10 years, NTDOP PMS has delivered positive return of

28.06% versus 15.09% of Nifty 500.


Period NTDOP NIFTY 500 NTDOP NIFTY 500

1 Month -4.95 -1.81 0.95 0.98

3 Months -1.02 2.86 0.99 1.03

6 Months -10.62 -6.70 0.89 0.93

1 Year -5.99 -7.16 0.94 0.93

2 Years 8.90 10.46 1.19 1.22

3 Years 15.64 12.41 1.55 1.42

4 Years 11.83 5.87 1.56 1.26

5 Years 25.30 13.84 3.09 1.91

Since Inception 16.34 5.26 5.42 1.77


5-Dec-07 NIFTY 500 Index Mr. Manish Sonthalia




Page Industries Ltd. 9.10

Voltas td. 9.01

City Union Bank Ltd. 5.69

Bajaj Finance Ltd. 5.02

L&T Technology Services Ltd. 4.65

Eicher Motors Ltd. 4.44

Bosch Ltd. 4.41

Tech Mahindra Ltd. 3.95

Godrej Industries Ltd. 3.82

Top 5 sectors



FMCG 17.22

Diversified 12.71

Auto & Auto Ancillaries 12.10

Infotech 8.61


MOAMC India Opportunity Portfolio (IOP)

• The Strategy aims to generate long term capital appreciation by

creating a focused portfolio of high growth stocks having the

potential to grow more than the nominal GDP for next 5-7 years

• The Strategy at present has a concentration in 24 stocks.

• Focus Theme for Next Five year: REVIVAL IN CAPEX CYCLE | MAKE

IN INDIA | THIRD TRILLION DOLLAR OPPORTUNITIES

• In last 7 years, IOP PMS has delivered positive return of 14.49%

versus 9.91% of Nifty Smallcap100.


Period IOPNIFTY Small

Cap100IOP

NIFTY SmallCap100

1 Month -3.62 -4.90 0.96 0.95

3 Months 1.35 1.16 1.01 1.01

6 Months -11.86 -17.85 0.88 0.82

1 Year -25.16 -30.44 0.75 0.70

2 Years -0.26 -1.35 0.99 0.97

3 Years 13.17 6.83 1.45 1.22

4 Years 7.18 2.93 1.32 1.12

5 Years 16.48 13.98 2.14 1.92

Since Inception 12.07 6.56 2.78 1.77


15-Feb-10Nifty Smallcap 100

IndexMr. Manish Sonthalia



Development Credit Bank Ltd. 10.23

TTK Prestige Ltd. 7.45

AU Small Finance Bank Ltd. 7.02

Gabriel India Ltd. 6.80

Aegis Logistics Ltd. 6.61

Mahanagar Gas Ltd. 6.17

Birla Corporation Ltd. 5.87

Alkem Laboratories Ltd. 5.48

Kajaria Ceramics Ltd. 4.32

Dr. Lal Pathlabs Ltd. 4.97

Top 5 sectors




Oil and Gas 12.77

Consumer Durables 12.77

Cement & Infrastructure 8.73


MOAMC India Opportunity Portfolio V2 (IOP V2)


5-Feb-18Nifty Smallcap 100

IndexMr. Manish Sonthalia



Ipca Lab Ltd. 8.12

Larsen & Toubro Infotech Ltd. 7.67

Cholamandalam Investment And Finance Company Ltd.

7.49

HEG Ltd. 7.30

Coffee Day Enterprises Ltd. 7.10

Godrej Agrovet Ltd. 7.05

Bajaj Electricals Ltd 6.17

Sobha Ltd. 6.15

Bata India Ltd. 5.85

JK Lakshmi Cement Ltd. 5.24

Top 5 sectors


Electricals & Electronics 16.81


Agriculture 10.84


Miscellaneous 7.67

• The Strategy aims to deliver superior returns by investing in stocks

from sectors that can benefit from India's emerging businesses.

• It aims to predominantly invest in Small and Midcap stocks with a

focus on identifying potential winners.

• Focus on Sectors and Companies which promise a higher than

average growth by focusing on four basic themes.


• Concentration on emerging Themes.

• Investments with Long term perspective.

• Four basic themes- AFFORDABLE HOUSING | MARKET SHARE GAIN

BY NBFCS & PRIVATE SECTOR BANKS FROM PSU BANKS | GROWTH

IN RURAL ECONOMY | SHIFT FROM UNORGANIZED TO

ORGANIZED SECTOR

• Investment Approach: “Buy & Hold” strategy

• IOP V2 has delivered -5.78% vs NIFTY Small Cap 100 has

delivered 1.16% in the last 3 months.


MOAMC Business Opportunities Portfolio (BOP)


16-Jan-18 Nifty 500 Index Mr. Manish Sonthalia



Hindustan Unilever Ltd. 9.65

HDFC Bank Ltd. 7.20

Bata India Ltd. 6.45


ICICI Lombard General Insurance Company Ltd.

5.55

Britannia Industries Ltd. 5.40

Exide Industries Ltd. 5.37

Godrej Agrovet Ltd. 5.28


Container Corporation of India Ltd. 4.87

Top 5 sectors



FMCG 19.75

Retail 13.24

Agriculture 7.59

Engineering & Electricals 6.80

• The Portfolio will be constructed based on in-depth research leading

to bottom-up stock picking with a view of equities from 3-4 years

perspective.

• It aims to predominantly invest in Small and Midcap stocks with a

focus on identifying potential winners.


• Five basic themes- AFFORDABLE HOUSING | MARKET SHARE GAIN

BY NBFCS & PRIVATE SECTOR BANKS FROM PSU BANKS | RISE IN

CONSUMER DISCRETIONARY | AGRICULTURE & GST BENEFICIARIES.

• Investment Approach: “Buy & Hold” strategy



Period BOP Nifty 500 BOP Nifty 500

1 Month -2.95 -1.81 0.97 0.98

3 Months 5.59 2.86 1.06 1.03

6 Months -8.26 -6.7 0.92 0.93

1 Year -3.45 -7.16 0.97 0.93

Since Inception -5.69 -6.09 0.94 0.94

ASK India Entrepreneur Portfolio (IEP)

• The strategy is market cap agnostic and builds portfolio which has

companies with more than 25% promoter holdings, high ROCE &

high non-dilutive compounded EPS. Identify business with

competitive advantage that is significant sized (min. 100 Cr. PBT).

The Strategy is built primarily on entrepreneur concept.

• The portfolio consist of 19 stocks.

• Investments with Long term perspective.

• In last 6 years, IEP PMS has delivered positive return of 21.31%

versus 10.93% of BSE 500.


Period IEP BSE 500 IEP BSE 500

1 Month -4.12 -1.76 0.96 0.98

3 Months 2.46 2.91 1.02 1.03

6 Months -11.65 -6.72 0.88 0.93

1 Year 2.05 -6.92 1.02 0.93

2 Years 12.22 10.69 1.26 1.23

3 Years 14.08 12.53 1.48 1.42

4 Years 10.24 5.92 1.48 1.26

5 Years 21.46 13.75 2.64 1.90

Since Inception 18.41 8.80 4.59 2.14


25-Jan-10BSE 500 IndexNifty 50 Index

Mr. Prateek Agrawal Mr. Sumit Jain




Havells India Ltd. 7.75

Britannia Industries Ltd. 7.74

Bajaj Finserv Ltd. 6.94

Page Industries Ltd. 6.15

Asian Paints Ltd. 6.09

IndusInd Bank Ltd. 6.08

Astral Poly Technik Ltd. 5.82


Cholamandalam Investment and Finance Company Ltd.

5.39

Top 5 sectors

Sector Name (%) of Market valueBanking & Finance 31.70FMCG 25.16Auto & Auto Ancillaries 13.48Electronics 7.75Plastics 5.82

Source: ASK IM | Data as on 31st January 2019

INVESCO Dawn Strategy

• Focus on mean reversion & value style

• High impetus on quality business models & management

• Bottom up stock picking approach without bias towards market

cap or sector

• Catalyst for investing – Cyclical recovery, earning recovery and

Under owned to Value style

• Focused portfolio approach and currently has 21 stocks in its

portfolio.

Source: INVESCO AMC | Data as on 31st January 2019


28- Aug-17 S&P BSE 500Mr. Taher Badshah

Mr. Amit Nigam



ICICI Bank Ltd. 10.12

Reliance Industries Ltd. 8.88

Infosys Ltd. 6.33

Axis Bank Ltd. 5.89

ITC Ltd. 5.86

Tech Mahindra Ltd. 4.56

Apollo Hospitals Enterprises Ltd. 4.52

Exide Industries Ltd. 4.44

IndusInd Bank Ltd. 4.22

Cipla Ltd. 4.16

Top 5 sectors


Financials 30.65

Industrials 12.14

Information Technology 10.89

Consumer Staples 9.45

Energy 8.88


Period DAWN BSE 500 DAWN BSE 500

1 Month -0.71 -1.76 0.99 0.98

3 Months 1.24 2.91 1.01 1.03

6 Months -5.29 -6.72 0.95 0.93

1 Year -11.98 -6.92 0.88 0.93

CYTD -0.71 -1.76 0.99 0.98

FYTD -3.09 1.13 0.97 1.01

Since Inception -7.15 2.86 0.90 1.04

Performance Track Record 1/3

Source: Respective AMC s| Data as on 31st January 2019

23.72x in Value PMS vs 10.71x in NIFTY since March 2003 (~16 years)

2.78x in IOP PMS vs 1.77x in NIFTY Small Cap 100 since Feb 2010 (~9 years)

4.59x in ASK IEP PMS vs 2.14x in BSE 500 & 2.16x in NIFTY since Jan 2010 (9 years)

5.42x in NTDOP PMS vs 1.77x in NIFTY 500 since Dec. 2007 (11 years)

Mar

-03

Mar

-04

Mar

-05

Mar

-06

Mar

-07

Mar

-08

Mar

-09

Mar

-10

Mar

-11

Mar

-12

Mar

-13

Mar

-14

Mar

-15

Mar

-16

Mar

-17

Mar

-18

Value NIFTY 50

Jan

-08

Au

g-0

8

Mar

-09

Oct

-09

May

-10

De

c-1

0

Jul-

11

Feb

-12

Sep

-12

Ap

r-1

3

No

v-1

3

Jun

-14

Jan

-15

Au

g-1

5

Mar

-16

Oct

-16

May

-17

De

c-1

7

Jul-

18

NTDOP NIFTY 500

Feb

-10

Au

g-1

0

Feb

-11

Au

g-1

1

Feb

-12

Au

g-1

2

Feb

-13

Au

g-1

3

Feb

-14

Au

g-1

4

Feb

-15

Au

g-1

5

Feb

-16

Au

g-1

6

Feb

-17

Au

g-1

7

Feb

-18

Au

g-1

8

IOP NIFTY Smallcap 100

25

-Jan

-10

25

-Ju

l-1

0

25

-Jan

-11

25

-Ju

l-1

1

25

-Jan

-12

25

-Ju

l-1

2

25

-Jan

-13

25

-Ju

l-1

3

25

-Jan

-14

25

-Ju

l-1

4

25

-Jan

-15

25

-Ju

l-1

5

25

-Jan

-16

25

-Ju

l-1

6

25

-Jan

-17

25

-Ju

l-1

7

25

-Jan

-18

25

-Ju

l-1

8

25

-Jan

-19

IEP NIFTY 50 BSE 500


Source: Respective AMC s| Data as on 31st January 2019

-40%

-20%

0%

20%

40%

60%

80%

100%

1 year 3 years 5 years 1 year 3 years 5 years

Value PMS Nifty 50

Maximum Minimum Average

-40%

-20%

0%

20%

40%

60%

80%

100%

120%


NTDOP Nifty 500


-60%

-40%

-20%

0%

20%

40%

60%

80%

100%


IOP Nifty Small Cap 100


-40%

-20%

0%

20%

40%

60%

80%

100%


ASK IEP BSE 500



VALUE IOP NTDOP IEP

FY-05 28% -- -- --

FY-06 82% -- -- --

FY-07 -2% -- -- --

FY-08 29% -- -25% --

FY-09 -29% -- -38% --

FY-10 81% 9% 117% 1%

FY-11 12% 8% 10% 22%

FY-12 3% -1% 12% 3%

FY-13 0% 0% 16% 13%

FY-14 21% 21% 40% 34%

FY-15 61% 53% 72% 73%

FY-16 -10% -9% 2% -5%

FY-17 19% 60% 38% 24%

FY-18 9% 5% 11% 15%

FY-19* -5% -16% -2% 2%

VALUE IOP NTDOP IEP

Q3FY16 1% -1% 0% 1%

Q4FY16 -2% -5% -4% -2%

Q1FY17 7% 10% 12% 10%

Q2FY17 7% 27% 16% 10%

Q3FY17 -9% -5% -10% -11%

Q4FY17 14% 20% 17% 14%

Q1FY18 3% 13% 6% 6%

Q2FY18 4% -1% 5% 5%

Q3FY18 6% 12% 10% 9%

Q4FY18 -4% -17% -9% -4%

Q1FY19 2% -6% 4% 7%

Q2FY19 -5% -11% -2% -4%

Q3FY19 -4% -4% -5% -4%

VALUE IOP NTDOP IEP

CY-04 23% -- -- --

CY-05 64% -- -- --

CY-06 24% -- -- --

CY-07 52% -- -- --

CY-08 -44% -- -53% --

CY-09 74% -- 110% --

CY-10 20% 28% 23% 29%

CY-11 -12% -25% -19% -13%

CY-12 23% 36% 57% 30%

CY-13 3% 2% 18% 22%

CY-14 58% 48% 78% 70%

CY-15 0% 5% 16% 8%

CY-16 2% 26% 13% 6%

CY-17 30% 52% 43% 37%

CY-18 -5% -27% -6% 2%

CY-19* -4% -4% -5% -4%

VALUE IOP NTDOP IEP

Jan-18 1% -7% -5% -4%

Feb - 18 -3% -5% -2% 0%

March- 18 -2% -6% -2% 0%

Apr-18 6% 6% 7% 9%

May-18 -1% -4% -1% 2%

June-18 -3% -7% -2% -3%

July-18 3% 2% 6% 8%

August-18 2% 3% 5% 2%

September-18 -9% -15% -11% -13%

October-18 -5% 0% -3% -3%

November-18 6% 2% 3% 7%

December-18 1% 3% 1% 0%

January-19 -4% -4% -5% -4%

Fin

anci

al Y

ear

on

yea

r P

erfo

rman

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Pe

rfo

rman

ce u

pd

ate

M-O

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erfo

rman

ceC

alen

dar Y

-O-Y

Pe

rform

ance

Source: Respective AMC s| Data as on 31st January 2019. *FY-19 (Apr-Jan), CY-18 (Jan-Dec)

Portfolio Analysis & Fees Structure

o Peer group comparison

o Stock Universe of our PMS offerings

o Portfolio Market Cap Style

o Risk Return analysis

o Fee Schedule

Peer group comparison 1/2

Data as on 31st January 2019| Source: ACE MF

Scheme Name 6 Months1

Year3

Years5

Years

Edelweiss Large Cap Fund -7.62 -2.90 12.60 14.51

ICICI Prudential Bluechip Fund -4.68 -4.86 13.53 15.18

IDFC Large Cap Fund -6.69 -5.21 12.67 11.56

Invesco India Largecap Fund -7.40 -4.69 11.03 14.49

Canara Robeco Bluechip Equity Fund -4.91 0.47 13.15 14.25

HSBC Large Cap Equity Fund -7.64 -7.18 12.61 13.13

UTI Mastershare -5.47 -3.30 11.83 14.33

Reliance Large Cap Fund -1.11 -3.35 14.63 17.82

SBI Bluechip Fund -7.57 -7.50 9.76 15.63

L&T India Large Cap Fund -6.99 -5.76 10.12 13.58

Aditya Birla Sun Life Frontline Equity Fund -5.81 -6.46 11.73 15.24

DSP Top 100 Equity Fund -10.41 -8.54 9.66 11.78

Kotak Bluechip Fund - Dividend -7.08 -6.12 10.52 14.33

Tata Large Cap Fund -5.37 -6.93 10.41 12.51

Franklin India Bluechip -4.84 -7.48 10.03 13.18

DHFL Pramerica Large Cap Fund Fund -6.16 -5.69 10.17 14.05

HDFC Top 100 Fund 0.36 -3.29 15.89 15.81

BNP Paribas Large Cap Fund -4.82 -5.89 10.16 14.84

IDBI India Top 100 Equity Fund -8.49 -9.64 8.16 12.58

Category avg -6.48 -6.01 10.95 14.26

Nifty 50 -4.63 -1.78 12.68 12.20

Value Strategy -9.40 -10.00 8.62 14.68


Year3

Years5

Years

UTI Equity Fund -8.22 0.66 12.23 15.42

Invesco India Multicap Fund -9.60 -13.09 9.63 19.27

Canara Robeco Equity Diversified Fund -4.21 -0.28 13.42 14.86

Principal Multi Cap Growth Fund -6.49 -11.39 15.22 17.56

SBI Magnum Multi Cap Fund -6.18 -7.30 12.57 19.10

L&T Equity Fund -8.71 -9.85 10.56 15.05

IDFC Multi Cap Fund -9.70 -9.68 8.46 16.27

HSBC Multi Cap Equity Fund -10.42 -12.81 11.11 15.22

DSP Equity Fund -8.24 -9.09 12.06 16.12

Aditya Birla Sun Life Equity Fund -4.86 -7.15 15.06 19.14

Reliance Multi Cap Fund 1.48 -5.91 11.01 15.89

ICICI Prudential Multicap Fund -4.80 -3.58 13.32 17.32

BNP Paribas Multi Cap Fund -6.84 -12.96 10.83 15.77

Franklin India Equity Fund -5.03 -7.22 10.61 16.94

Kotak Standard Multicap Fund -5.61 -3.56 14.99 19.37

JM Multicap Fund -10.99 -9.00 14.21 17.95

HDFC Equity Fund -0.57 -6.37 15.69 16.79

Category avg -6.49 -8.12 12.45 16.76

Nifty 500 -6.70 -7.16 12.37 13.83

NTDOP Strategy -10.62 -5.99 15.64 25.30

Data as on 31st January 2019| Source: ACE MF

Peer group comparison 2/2

Scheme Name6

Months1

Year3

Years5

Years

Axis Midcap Fund -5.15 2.19 12.70 20.98

Edelweiss Mid Cap Fund -12.27 -18.50 10.69 21.71

Taurus Discovery (Midcap) Fund -10.47 -11.15 13.42 20.25

ICICI Prudential MidCap Fund -7.77 -13.22 12.01 20.57

L&T Midcap Fund -9.78 -14.40 14.30 24.15

Invesco India Mid Cap Fund -5.52 -7.08 11.71 21.26

HDFC Mid-Cap Opportunities Fund -10.77 -12.75 12.70 20.73

Franklin India Prima Fund -6.56 -10.33 12.38 21.55

UTI Mid Cap Fund -11.39 -16.22 8.35 20.00

Kotak Emerging Equity Scheme -9.29 -12.51 13.07 23.40

Sundaram Mid Cap Fund -10.35 -16.24 10.54 21.07

DSP Midcap Fund -9.96 -11.76 12.80 21.16

Aditya Birla Sun Life Mid Cap Fund -12.35 -18.08 8.95 18.82

Tata Mid Cap Growth Fund(G) -4.31 -12.54 9.82 20.75

BNP Paribas Mid Cap Fund -5.15 2.19 12.70 20.98

SBI Magnum Midcap Fund -7.37 -17.03 5.92 17.54

Category avg -10.16 -16.33 10.44 20.74

Nifty Small cap 100 -17.85 -30.44 6.83 13.98

IOP Strategy -11.86 -25.16 13.17 16.48


Year3

Years5

Years

UTI Equity Fund -8.22 0.66 12.23 15.42

Invesco India Multicap Fund -9.60 -13.09 9.63 19.27

Canara Robeco Equity Diversified Fund -4.21 -0.28 13.42 14.86

SBI Magnum Multi Cap Fund -6.18 -7.30 12.57 19.10

L&T Equity Fund -8.71 -9.85 10.56 15.05

IDFC Multi Cap Fund -9.70 -9.68 8.46 16.27

DSP Equity Fund -8.24 -9.09 12.06 16.12

Aditya Birla Sun Life Equity Fund -4.86 -7.15 15.06 19.14

Reliance Multi Cap Fund 1.48 -5.91 11.01 15.89

ICICI Prudential Multicap Fund -4.80 -3.58 13.32 17.32

BNP Paribas Multi Cap Fund -6.84 -12.96 10.83 15.77

Kotak Standard Multicap Fund -5.61 -3.56 14.99 19.37

JM Multicap Fund -10.99 -9.00 14.21 17.95

HDFC Equity Fund -0.57 -6.37 15.69 16.79

Category avg -6.49 -8.12 12.45 16.76

BSE 500 -6.72 -6.92 12.53 13.75

ASK IEP -11.65 2.05 14.08 21.46

Stock Universe of our PMS offerings

Source: Respective AMCs| Data as on 31st January 2019

• Duplication of stocks are limited across our offerings.

• Concentrated portfolio with 15 to 25 stocks ideas.

• Exposure to companies in line with investment theme.

Stock Universe No. of Stocks

Universe of Stocks 185

Unique no. of Stocks 131

Stocks common 41

Strategies(Total No. of

stocks)ASK IEP (19) BOP (22)

Invesco DAWN (22)

IOP (24) IOP V2 (20) NTDOP (26)Renaissance

Midcap Portfolio(17)

Renaissance Opportunity Portfolio (14)

Value PMS (22)

ASK IEP (19) 10 (46%) 3 (21%) 1 (6%) 0 (0%) 1 (5%) 4 (23%) 0 (0%) 2 (10%) 3 (16%)

BOP (22) 3 (17%) 7 (31%) 2 (10%) 1 (4%) 5 (19%) 3 (16%) 1 (2%) 2 (12%) 4 (21%)

Invesco DAWN (22)

1 (4%) 2 (8%) 12 (43%) 0 (0%) 0 (0%) 3 (19%) 0 (0%) 6 (38%) 4 (26%)

IOP (24) 0 (0%) 1 (4%) 0 (0%) 16 (58%) 0 (0%) 4 (16%) 1 (10%) 0 (0%) 2 (11%)

IOP V2 (20) 1 (7%) 5 (28%) 0 (0%) 0 (0%) 13 (56%) 1 (8%) 0 (0%) 0 (0%) 1 (8%)

NTDOP (26) 4 (30%) 3 (20%) 3 (9%) 4 (9%) 1 (3%) 12 (44%) 1 (2%) 3 (18%) 6 (28%)

Renaissance Midcap (17)

0 (0%) 1 (4%) 0 (0%) 1 (8%) 0 (0%) 1 (8%) 11 (46%) 3 (21%) 0 (0%)

Renaissance Opp. (14)

2 (11%) 2 (12%) 6 (37%) 0 (0%) 0 (0%) 3 (15%) 3 (19%) 2 (13%) 6 (34%)

Value PMS (22) 3 (21%) 4 (31%) 4 (13%) 2 (6%) 1 (2%) 6 (27%) 0 (0%) 6 (35%) 8 (28%)

Note : Unique stocks & allocation mentioned in highlighted cells

Portfolio Market Cap Style

Source: Capital Line | Data as on 31st January 2019 | Weighted average market cap capitalization | Market Capitalization as per SEBI categorization

Large Cap: 1st to 100th company | Mid Cap: 101st to 250th company | Small Cap: 250 onward

1,69,177.79

62,399.61

9,563.55

1,18,478.21

70,789.00

1,68,156.22

8,283.60

10,129.14

1,86,452.24

Value

NTDOP

IOP V2

BOP

IEP

DAWN

IOP

Renaissance Midcap PMS

Renaissance Opp. PMS

Market Cap (Cr.)

79%

52%

0%

49%

72%

61%

2%

0%

67%

14%

44%

49%

31%

25%

16%

21%

54%

19%

5%

51%

17%

3%

16%

77%

33%

7%

3%

7%

13%

14%

Value

NTDOP

IOP V2

BOP

IEP

DAWN

IOP

Renaissance Midcap PMS

Renaissance Opp. PMS

Large Cap Mid Cap Small Cap Cash

Risk Return analysis

Risk return parameter of all the strategy based on its benchmark

Data as on 31st January 2019. Risk free rate has been taken as 7%.

Risk parameter VALUE IOP IEP NTDOP Interpretation

Standard Deviation 15% 12% 10% 12%Lower the better

(volatility Risk)

Beta (Slope) 0.81 0.84 0.55 0.53Lowe the better

(Market Risk)

Jensen's (Alpha) 6% 5% 13% 16%

Higher the betterSharpe Ratio 0.59 0.98 1.56 1.54

Treynor 11% 14% 27% 34%

Up-Market Capture Ratio 1.22 1.01 1.64 1.73Considering benchmark is 1, greater than 1 means fund has outperformed the index during the up-

market

Down-Market Capture Ratio

0.66 0.35 -0.12 0.37Considering benchmark is 1, lesser than 1 means

fund has outperformed the index during the down-market

Fees Schedule

Note: All the returns mentioned in previous slide is post management expenses.

*HWM- Higher Water Mark

Fee ScheduleMOAMC PMS ASK PMS INVESCO D.A.W.N Renaissance AMC

Fixed Fees Variable Fees Fixed Fees Fixed Fees Variable Fees Fixed Fees Variable Fees

Set Up Fees Upto 2% Upto 2% Upto 2% Upto 2.5% Upto 2.5% Upto 2% Upto 2%

Management Fees 2.50% 1.50% 2.50% 2.50% 1.25% 2.50% 1.75%

Custodian Fees 0.25% 0.25% 0.25% 0.25% 0.25% 0.25% 0.25%

Exit Load

<1yr- 2% <1yr- 2% <1yr- 3% <1yr- 3% <1yr- 3% <1yr- 3% <1yr- 3%

>1yr- NIL >1yr- NIL <2yr-2% <2yr-2% <2yr-2% <2yr-2% <2yr-2%

<3yrs- 1% >2yrs- NIL >2yrs- NIL <3yrs- 1% <3yrs- 1%

>3yrs- NIL >3yrs- NIL >3yrs- NIL

Performance Base Fees

NA

If profit <15%;

NA NA

If Profit <10%, Nil If Profit <10%, Nil

15% profit share above 10% PA on

HWM*

15% profit share above 10% and below 15% PA

profit

15% per annum (with high watermark)

If profit >=15%; 20% profit share above 10% PA on

HWM*

20% profit share above 15.01% PA

profit

Depository Charges

As applicable at actualBrokerage

Other Statutory levies

Source: Respective AMCs

30

Thank You !

Motilal Oswal Securities Ltd. (MOSL)* Member of NSE, BSE, MCX, NCDEX, CIN no.: U65990MH1994PLC079418.Registered Office Address: Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai-400025; Tel No.: 022-3980 4263; Website www.motilaloswal.com. Correspondence Adds: Palm Spring Centre, 2nd Floor, Palm Court Complex, New Link Road, Malad (West), Mumbai- 400 064. Tel No: 022 3080 1000. Registration Nos.: Motilal Oswal Securities Ltd. (MOSL)*: INZ000158836 (BSE/NSE/MCX/NCDEX); CDSL: IN-DP-16-2015; NSDL: IN-DP-NSDL-152-2000; Research Analyst: INH000000412. AMFI: ARN 17397; Investment Adviser: INA000007100; IRDA Corporate Agent: CA0541. Motilal Oswal Asset Management Company Ltd. (MOAMC): PMS (Registration No.: INP000000670); PMS and Mutual Funds are offered through MOAMC which is group company of MOSL. Motilal Oswal Wealth Management Ltd. (MOWML): PMS (Registration No.: INP000004409) is offered through MOWML, which is a group company of MOSL. Motilal Oswal Securities Ltd. is a distributor of Mutual Funds, PMS, Fixed Deposit, Bond, NCDs, Insurance Products and IPOs. Real Estate is offered through Motilal OswalReal Estate Investment Advisors II Pvt. Ltd. which is a group company of MOFSL. Private Equity is offered through Motilal Oswal Private Equity Investment Advisors Pvt. Ltd which is a group company of MOFSL. Research & Advisory services is backed by proper research. Please read the Risk Disclosure Document prescribed by the Stock Exchanges carefully before investing. There is no assurance or guarantee of the returns. Details of Compliance Officer: Name: Neeraj Agarwal, Email ID: [email protected], Contact No.:022-38281085. * MOSL has been amalgamated with Motilal Oswal Financial Services Limited (MOFSL) w.e.f August 21, 2018 pursuant to order dated July 30, 2018 issued by Hon'ble National Company Law Tribunal, Mumbai Bench. The existing registration no(s) of MOSL would be used until receipt of new MOFSL registration numbers. Investment in securities market are subject to market risks, read all the related documents carefully before investing.

http://www.motilaloswal.com/

mailto:[email protected]

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