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Ambit PMS

PMS Rating

IME PMS Rating

3 of 5 stars

Not a top recommendation (at this time) due to the FM churn: Ambit PMS is essentially in a rebuild mode, after the top leadership of the investments team left to set up Marcellus in 2018. It will take some time for the PMS to stabilise under the new investment team, and until then investors seeking to invest in the good-and-clean companies (for which Ambit is known) would probably be better off investing at Marcellus (who follow essentially the same strategy).

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 (2448cr) | Promoter Category ()

PMS Background

Ambit PMS is part of the Ambit group (a highly respected financial services brand with strengths in investment banking, investment management & equities research). It has scaled in prominence on the back of the strong performance of their PMS strategies driven by investing in high-quality businesses with clean accounting standards.

PMS Investment Philosophy

Ambit follows a very clearly defined investment philosophy that essentially seeks to make long-term investments in high-quality business franchises. Their investment approach has 3 core pillars

  • Clean Accounts: A combination of forensic accounting & capital allocation assessments help determine how clean a company’s books are. This helps narrow the investible universe (Saurabh has been one of the foremost experts in the use of forensic accounting to identify potential issues in company accounts)
  • Capital Allocation: Invest only in companies with a strong track record of efficient capital allocation
  • Competitive Advantage: Seek to only invest in companies that have very strong competitive moats Ambit is known for a rigorous following of these quality filters and to invest in only the highest quality companies (often willing to pay very high premiums to invest in top quality franchises).

Investment Approach

  1. Building a Proprietary research-backed framework
  2. Following a disciplined and process-driven approach
  3. Investment in high quality businesses 
  4. Long-term investments with low churn

Investing on long-term objective in high quality business based on clean accounting standards, efficient capital allocation and having a competitive advantage (willing to pay high premiums).

Inv Team

Investment Team

Siddharth Bothra | 4-star rated FM

FM | 20 yrs Experience | 1 yrs at current firm

Past Experience: Motilal Oswal MF (FM), Aclehmy (Analyst)

Siddharth has more than two decades of experience in equities and asset management. His expertise spans large-cap, midcap, flexicap and hybrid funds. Prior to Ambit, He was in Motilal Oswal for 18 years and was the FM for their Focused 25 and Hybrid Fund.

Trilok Agarwal | 3-star rated FM

FM | 17 yrs Experience | 2 yrs at current firm

Past Experience: Birla Life Insurance (FM), Dymon Asia Consultant (Investment Consultent)

Trilok has over 16 years of experience in Investment Management. Prior to Ambit, he as a key Investment member at Aditya Birla Sun Life managing funds over 500mn$, He was also associated with Dymon Asia Capital briefly.

Bhargav Buddhadev | 3-star rated FM

FM | 18 yrs Experience | 1 yrs at current firm

Past Experience: Kotak MF (FM)

Bhargav has over 18 years of experience in equity research. Prior to joining Ambit, he worked with Kotak Mutual Fund and also worked with Ambit Institutional Equities.

PMS/AIF Schemes

PMS & Listed Equity AIF Schemes

Scheme Category Style 1 yr 3 yr 5 yr Since Inc
Ambit Good & Clean MidCap Large & Midcap GARP 44.6 2 22.5 15.5
Ambit Emerging Giants Small Cap GARP 11.5 14.7 26.5 16.9
Ambit Coffee Can Large & Midcap GARP 30.9 11.6 17.8 16.1

Returns as of 31-Aug-24.

Free 30-Day Trial of the IME RMS

Details shared above, are only a short-snapshot of the more detailed analysis that resides in IME’s Proprietary RMS (Research Management Solution).

The IME RMS is the first tool ever, to give investors direct access to the insights of the central research team. Investors gain direct access to our ratings, rating rationales & analysis across thousands of funds (MFs, PMSs, AIFs, Global funds), asset classes, categories & more.

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