We at Magadh Capital aim for long term wealth creation for our investors by delivering healthy and consistent returns in the world class portfolio management services that we provide with high level of integrity. In this pursuit we intend to keep interests of all stake holders (investors, investment managers, employees and third-party service providers) largely aligned, with investors’ interests being the core focus of our business.
"Magadh Capital keeps our investors’ interests at the centre of everything that we do.
The PMS invests in Indian listed equity markets based on a combination of conventional fundamental-research, and behavioural finance. The founder of Magadh Capital is a professional with rich experience in investment industry and other industries in senior positions, and with a solid academic background.
Magadh Capital’s investors are typically HNI (High Networth Individuals), family offices, corporates, financial institutions, and NRI’s (Non Resident Indians).
The first pan-Indian empire at its peak - sometime in the second century BC - Magadh was a cradle for knowledge in ancient India. It remained the centre of culture and learning in India for almost thousand years starting about 5th century BC. During this period there was rapid progress in politics, economics, literature, religion, and philosophy. While eminent centres of learning like Nalanda and Vikramshila universities flourished in Magadh, two great religions - Buddhism and Jainism, too were founded there.
Magadh also saw some brilliant developments in the fields of mathematics, astrology, astronomy, warfare and medicine. Large parts of this era were marked by relative peace which was facilitated by the farsightedness of the leaders of the empire who focused on efficient mitigation of external and internal threats.
This approach to life - of deep thinking, seeking wisdom, solid execution, and risk management - inspires us in every aspect of our philosophy and process at Magadh Capital. In our pursuit for excellence in fund management, this approach also helps us in our attempt to develop a mindset which seeks to identify facts, and their relationships.
The fund functions on the three broad pillars of -
a) Integrity and transparency – in the entire gamut of the fund management practices as well as in operations, and in the way the fund deals with all its stakeholders. Magadh Capital places a lot of emphasis on keeping the managers’ interests aligned with those of its investors.
b) Research and knowledge - are the basic guiding principles for identifying stock ideas, portfolio construction and risk management. Learning is a
continuous, ongoing process for us.
c) Simplicity - is what the fund practices, and adheres to during stock selection, and portfolio management - or for that matter, in everything that it does.
Magadh Capital’s portfolio construction is based on its proprietary FACTS boxes validation process which optimizes the risk-reward profile of the portfolio. The stock selection process is an intensive one based on a combination of qualitative as well as quantitative measures.
We follow a conventional, disciplined approach backed by fundamental bottom-up/top-down research to identify good stocks with moderate risks at fair price.
We are keen for contrarian opportunities if we see strength in a company that is
being missed by the market for some reversible reasons.
Ours is a blend of growth and value styles. We look to figure out a stock’s fair
value in a range backed by our fundamental equity research process and thus
attempt to identify instances of market mispricing. DCF (Discounted cash flow)
method forms the core of our valuation exercise though we do apply other
methods too.
We work with the understanding that markets are inherently risky. We see possibility
of permanent capital erosion or of poor returns in the long run as the central risk
factor and strive to minimize this risk - as our first goal. Magadh Capital does not see
stock price dip due to short term volatility as a measure or indicator of risk.
Our investment philosophy and style have been influenced heavily by our focus on
alleviation of risks in our pursuit for wealth creation for our investors. Our investment
process is designed to assist us in identifying key risk factors, in trying to estimate
the range of probabilities for various risk factors, and in thinking of impact of those
risk factors. At the same time, while we score well on the scale of risk aversion, we
are not loss averse over near term especially if we are convinced regarding long
term opportunities.
PMS Registration: INP000007155
AIF Registration: IN/AIF3/16-17/0279
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