Core Value Concentrated

Core Value Concentrated follows a value investing framework focused on achieving capital appreciation through investment in a diversified portfolio of strong businesses purchased at reasonable valuation. The strategy focuses on identifying good quality businesses with strong management quality, consistent return ratios and sustainable competitive advantage while avoiding weak businesses, poor management and exorbitant valuations. Portfolio construction typically includes about 20 to 25 stocks with disciplined allocation limits such as a maximum exposure of around 10 percent in a single stock and about 30 percent in a single sector while ensuring exposure across at least four uncorrelated sectors. The investment process focuses on companies with long operating history, consistent free cash flow generation and strong return on capital employed, while banking and financial companies are evaluated using parameters such as return on assets, return on equity and asset quality metrics. The approach aims to purchase strong companies when they are temporarily unpopular or facing short term uncertainty, creating attractive entry points for long term investors. Illustrative examples include companies such as HDFC Bank, Asian Paints, Indraprastha Gas and Kaveri Seed Company where valuation multiples moved below historical averages creating investment opportunities. The portfolio holds exposure across industries including industrials, consumer discretionary, consumer staples, utilities and health care. Sector agnostic. Market cap small cap, mid cap and large cap.