3P Investment Managers
AIFIME's View on 3P Investment Managers
AMC View
Although 3P is a relatively new asset manager, it is backed by strong investment team and is owner-fund manager managed. First, their investment team boasts significant pedigree, with industry veterans like Prashant Jain (former CIO of HDFC Mutual Fund) and Ashwani Kumar (former Fund Manager at Nippon). Together, they bring over six decades of experience to the table. Second, 3P is an owner-based AMC, which we actively endorse for its higher stability in both the investment team and its philosophy.
AMC Pedigree
The pedigree of the founder and CIO, Prashant Jain, lends significant credibility to the firm. Prashant Jain's remarkable tenure as the CIO of HDFC for 18 years greatly boosts 3P's pedigree from day 1. Even as performance in the last few years of Prashant's tenure at HDFC was clearly sub-par, Prashant Jain is widely considered to be one of the most senior and well-respected vetrans of Indian Equity Fund Management.
Team Pedigree
Leading the AMC are Prashant Jain (Former CIO of HDFC MF for 18 years) and Ashwani Kumar (Former Senior FM of Nippon MF), who bring exceptional expertise as the main fund managers. They are supported by an experienced team of 12 members, including a 9-member analyst team with an average of 7 years of experience.
Investment Philosophy
3P's investment philosophy is grounded in CIO Prashant Jain's well-honed investment style, developed over more than 30 years of market experience. Prashant Jain's tilt towards value is evident from the house philosophy dubbed 3P. 3P stands for Prudence (in portfolio construction with reasonably valued businesses), Patience (with businesses and markets) and Performance (is an outcome of the process). In his previous roles, he managed several funds for nearly two decades, demonstrating his consistent adherence to strategy across various market cycles.
AMC Background
Founded on principles of prudence, patience, and performance, 3P Investment Managers, led by industry veteran Prashant Jain (ex-HDFC AMC CIO), combines decades of experience with a disciplined, low-churn approach.
Investment Philosophy
3P Framework:
- Prudence: Select sustainable, reasonably valued businesses.
- Patience: Long-term horizon to reduce equity risk.
- Performance: Outcome-driven, low-churn (19% annual turnover).
Approach:
Blends quality growth and value, avoiding overpriced sectors
Investment team
Prashant Jain | 5-star rated FM
CIO | 33 yrs Experience | 2 yrs at current firm
Past Experience: HDFC MF (CIO), SBI MF
Prashant Jain is Founder and CIO at 3P. He has 32 years of experience in Indian equities, all of it with mutual funds. He started his career with SBI Mutual Fund (1991-1993). He then moved to set up 20th Century Mutual Fund that became Zurich India Mutual Fund which was finally acquired by HDFC Mutual Fund in 2003. He thus has an unbroken track record of managing the same fund for over 28 years. This Fund, HDFC Balanced Advantage Fund, delivered a CAGR of ~17.9% vs Sensex CAGR of ~9.6% from Jan 1994 - July 2022. He is a BTech from IIT-Kanpur and PGDM from IIM-Bangalore.
Ashwani Kumar | 4-star rated FM
FM | 29 yrs Experience | 2 yrs at current firm
Past Experience: Nippon MF (FM)
Ashwani Kumar is the Portfolio Strategist and Co-Investment Manager at 3P. He is a long-term professional with nearly 28 years of Research and Fund Management experience. Ashwani started managing Reliance Vision Fund in 2003. He was one of the key members of the team at Reliance Mutual Fund (now Nippon India Mutual Fund) that scaled up the assets from ₹200 crores (US$ 24mn) in June 2003 to ~₹90,000 crores (US$ 11bn) in Feb 2020. He worked with Nippon AMC for 17 years before joining 3P.
