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Accuracap PMS

PMS Rating

IME PMS Rating

4 of 5 stars

Highly recommended for aggressive investors looking for high performing quant strategies: AccuraCap PMS is a highly differentiated, quant-based PMS offering with the ideal combination of a 'geek' driven core founding & investment team that have a long demonstrable track record.

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 (799cr) | Promoter Category ()

AMC Background

AccuraCap is a highly differentiated PMS, that uses Big Data and Behavioural Analysis to drive their quant-based strategies. Set up in 2009 by 2 renowned computer scientists to manage their personal portfolios (subsequently expanded to managing public money in 2011), Accuracap is one of the few pure-play quant-based PMS providers in India.

Investment Philosophy

Accuracap PMS follows a pure quant-strategy, with algorithms that use Big Data and Behavioral Analysis for stock selection & portfolio construction. These algorithms have developed by renowned computer scientists (Naresh Gupta & Raman Nagpal), both of whom have considerable senior-mgmt level industry experience in the use of Artificial Intelligence, Big Data, and Computer Learning.

The algorithm is driven by the principles of identifying quality businesses with a moat around their business model that is reasonably priced with an intent to hold for medium to long term. The algorithm helps the team evaluate and identify businesses objectively and scientifically. The PMS uses the same philosophy for an exit strategy. where it reviews the portfolio every quarter for possible deterioration in the business model, and exit any businesses that show clear signs of such deterioration. The Accuracap team believes this process helps them keep the emotions out of the investment process. 

The Investment Team is also strongly aligned to investor returns and the strategy itself:

  • Skin-in-the-game with more than 50% of the total corpus that of the promoters
  • Fee structure: no arbitrary hurdle rates as performance benchmarked against appropriate indices and profit-sharing only on the alpha generated relative to the index

ALGORITHM

Accuracap team claims that their unique ranking algorithm conducts extensive “Spatio-temporal” analysis of every business. They compare the business against every other business over space and time. This initial process of the filter helps them narrow the investment universe to some high-quality businesses. The algorithm then uses “Pendulum Hypothesis”, where they buy these businesses at reasonable valuations. The algorithm follows equi-weight portfolio strategy. In essence, the algorithm that the Accuracap team has developed helps them hold on to winning ideas and weed out losers at regular intervals. 

Inv Team

Investment Team

Naresh Chand Gupta | 4-star rated FM

Co-founder & CEO | 34 yrs Experience | 9 yrs at current firm

Past Experience: Adobe India (MD & CEO), LNK Corp (Director-Artificial Intelligence)

Naresh is a computer scientist, researcher and corporate executive with impressive technology credentials. As CEO of Adobe India, Naresh oversaw 3500+ engineers and was responsible for over 40% of Adobe’s global R&D, including the grant of hundreds of patents. Naresh is the author of several seminal scientific papers in the area of Artificial Intelligence, Pattern Recognition, and Computer Vision and holds seven Individual U.S. Patents. He left Adobe to start Accuracap PMS in 2015, in order to use his technical expertise in algo-based quant investing.

Raman Nagpal | 4-star rated FM

Co-founder & CIO | 30 yrs Experience | 9 yrs at current firm

Past Experience: Morpria Alliance (Board of Directors), Adobe (Executive Director), AVP Technology (Founder)

Raman is a computer scientist, with a deep background in technology & finance. He has been responsible for developing several new technologies in the areas of adaptive learning engines, spurious drug detection systems and application of data analytics in stock markets. Prior to founding AccuraCap in 2015 along with Naresh Gupta, Raman worked along with him at Adobe as an Executive Director.

PMS/AIF Schemes

PMS & Listed Equity AIF Schemes

Scheme Category Style 1 yr 3 yr 5 yr Since Inc
Accuracap PicoPower Small Cap Quant 62.2 29.2 29.9 24.4
Accuracap Alphagen Flexi Cap Quant 45.7 17.9 18.3 14.5
Accuracap Alpha10 Large Cap Quant 34.2 13.7 15.2 14.9

Returns as of 28-Feb-24.

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Note: PMS AMC & Scheme Reviews and Ratings are based on IME Capital’s Proprietary Review and Rating Methodology (read more here: AMC Rating & Scheme Ratings). These reflect the unbiased views of our central research team, based on our assessment of the investment value of these PMS/AIF strategies for our investors. We follow a highly stringent rating-criteria, where approximately 50% of PMS AMC’s & strategies would be rated 2-star or below (this is not meant to indicate that these funds are not investment-worthy, but that they do not currently fulfill the requirements we focus on for recommending funds to our investors — based on our internal views on the merit of the AMC/strategy relative to peers). Reviews & Ratings are primarily based on research of publicly available information (SEBI disclosures, PMS websites, PMS-aggregation platforms, webinar recording, media interviews etc.) and no explicit consent is required from AMCs for the same. While we endeavour to do further due-diligence via direct interactions with the investment teams of AMCs, this is typically restricted to AMC’s that meet our foundational fund selection criteria (reviews on lower-rated AMCs are often based solely on publicly available information). The views reflected in our Reviews & Ratings, are our independent views and may not be shared by the AMC’s and the investment teams. Please read detailed disclaimer for more.