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2Point2 PMS

PMS Rating

IME PMS Rating

3 of 5 stars

Not a top recommendation as it is still a young AMC at this time : 2Point2 Capital has scaled rapidly in a short period of time, driven by the strong initial performance of the portfolios. However, given the relatively short track record for both the firms and their principal founding fund managers, we would advise investors to wait a few more years for the strategy to mature.

The PMS/AIF AMC Rating is derived on the basis of our analysis on 5 key qualitative parameters that we use to analyse the quality of a PMS/AIF Provider. These include an assessment of the size of the AMC, the pedigree of the AMC, the pedigree of the team, the value of the investment philosophy & the level of differentiation. These insights of our central research team are documented in the IME RMS, and can be accessed during a consultation call with an IME PMS specialist.

PMS Background

Discretionary AUM (949cr) | Promoter Category ()

PMS Background

2Point2 Capital is a relatively young PMS, that is co-founded by Amit Mantri and Savi Jain in 2016. Focussed on a value-investment approach and backed by the PE & Hedge fund experience of their founders, 2Point2 Capital has scaled up to a mid-sized PMS in a relatively short-period of time.

PMS Investment Philosophy

2Point2 capital follows a value-based investment style, following the footsteps of legendary value-investors Benjamin Graham, Warren Buffett and Charlie Munger. The approach is to buy businesses that trade at a discount to their intrinsic value and have a strong competitive moat, provide a margin of safety, have strong governance standards and are in sectors that have long-term growth opportunities. Businesses chosen for investment based on: 

  • Competitive Moat: Businesses that have a strong competitive moat are able to create shareholder value. They seek to invest in businesses that have a strong competitive moat. Competitive moat that attract them are those driven by strong brands, distribution strength, having a cost advantage, technology  and high switching cost. This showcases high capital efficiency and are cashflow positive. Also try to avoid businesses driven by regulations and political linkages. 
  • Margin of Safety: Seek to maintain valuation discipline by investing only at discount to intrinsic value resulting in margin of safety. This may lead to staying in cash in periods of unreasonable euphoric market and investing in periods of distress. Follows the principle of ‘Be fearful when others are greedy and greedy when others are fearful’. 
  • Corporate Governance: Believe in stabilized long-term returns can be achieved by partnering with  managements which treat minority shareholders as equal partners. Avoid partnering with businesses with weak corporate governance practices and invest only in businesses with ethical management teams. 
  • Sectors: Prefer to invest in sectors that have long term growth opportunities. Avoid investing in highly regulated sectors, sectors linked to commodity prices, ‘fad’ driven sectors and sectors exposed to technological disruption. Also avoid investing in sectors that over long period generate accounting profits and not cash flows.  

Inv Team

Investment Team

Amit Mantri | 3-star rated FM

Co-Founder & Fund Manager | 15 yrs Experience | 9 yrs at current firm

Past Experience: Hornbill Capital (VP), IDFC Alternatives, Zephyr Paeacock (VP)

Amit comes from a private equity background, with 5 years of PE experience at Zephyr Peacock and a short stint at IDFC Alternatives. Prior to founding 2Point2 Capital, Amit spent a year at Hornbill Capital (a Mumbai based hedge fund, co-sponsored by Orchid Asia – manager of $3bn+ of Asian equity assets).

Savi Jain | 3-star rated FM

Co-Founder & Fund Manager | 16 yrs Experience | 9 yrs at current firm

Past Experience: Jashn (Director), Tano Capital (Director), Frontline Ventures (Analyst)

Savi comes from a private equity background, with around 6 years of experience in Tano Capital (Mumbai based PE fund managing over $200 mn of assets) & Frontline Ventures.

PMS/AIF Schemes

PMS & Listed Equity AIF Schemes

Scheme Category Style 1 yr 3 yr 5 yr Since Inc
2Point2 Long Term Value Flexi Cap Value 25.8 21.1 24 21.7

Returns as of 30-Sep-24.

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