Core Equity Portfolio

Core Equity Portfolio follows a wealth creation approach focused on long term capital appreciation by investing in high quality businesses with sustainable earnings growth, high ROE or ROCE, low leverage and scalable business models. The strategy follows both top down and bottom up investment approach where macroeconomic trends, industry growth characteristics and company fundamentals are analyzed together. The portfolio focuses on businesses core to the India growth story with strong operating dynamics, credible management, capital efficiency and superior return ratios. Stock selection emphasizes recurring winners and companies with large opportunity canvas, consistent growth profile and attractive valuation with margin of safety through a value investing approach. The investment process includes extensive fundamental research, financial modelling, company meetings, industry analysis and valuation screening to identify future winners and undervalued businesses. Portfolio construction is concentrated with high conviction names selected through risk reward analysis and portfolio optimisation. Illustrative holdings include ICICI Bank Limited, Bharti Airtel Limited, HDFC Bank Limited, Infosys Limited, APL Apollo Tubes Limited, Sun Pharmaceutical Industries Limited and Interglobe Aviation Limited. Sector agnostic. Market cap combination of large cap, mid cap and small cap within a multicap investment universe.