Ambit PMS Recommendation & Review

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IME Rating

IME PMS Rating

Ambit PMS is currently rebuilding after key members of the investment team left to start Marcellus in 2018. It may take time for the PMS to stabilize with the new team, so investors interested in companies known for their good and clean reputation may consider investing in Marcellus, which follows a similar 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

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.

Part of the Highly Respected Ambit Group but has seen Exits of Senior Investment Professionals Ambit PMS benefits not only from its group's heritage but also for its own clear positioning of investing in only the highest quality businesses with impeccable accounting & corporate governance standards. However, senior investments team of Ambit PMS left to form Marcellus in 2018 and a few others joined Avendus.

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

Building a Proprietary research-backed framework
Following a disciplined and process-driven approach
Investment in high quality businesses
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).

Suitable For Investor's seeking to invest in the very highest quality companies (regardless of valuations), to benefit from the LT compounding benefit of high quality businesses. This strategy could potentially underperform in strong bull markets.

Investment Team

Siddharth Bothra | 4-star rated FM

FM | 21 yrs Experience | 2 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.

PMS & Listed Equity AIF Schemes

Scheme	Category	1 yr	3 yr	5 yr	Since Inc
Ambit Good & Clean MidCap	Large & Midcap	-8.8	4.3	22.5	12.8
Ambit Emerging Giants	Small Cap	-12.8	4	21.2	13
Ambit Coffee Can	Large & Midcap	2.3	12.5	16.1	14.3

Returns as of 31-May-25

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

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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.