Buoyant PMS
PMSIME's View on Buoyant PMS
AMC View
Buoyant Capital is a boutique investment manager launched in 2016, managing over USD 850 million through a single, high-conviction PMS strategy—the Opportunities Scheme. The firm has three founding Investment Team professionals with specific sector expertise. Their dynamic investment philosophy does have value, making them a good option for investors seeking an active and dynamic approach.
AMC Pedigree
Buoyant Capital, founded in 2016 by Sachin & Jigar, strengthened their investment team with Viral in 2019. With 3 senior investment professionals, a mature AMC, differentiated investment strategy, and established track record, Buoyant is recognized as a quality PMS provider. Key elements contributing to the firm's credibility include all 3 senior professionals holding equity stake, investing majority of personal and company wealth in the strategy, and offering a single strategy for greater focus.
Team Pedigree
Buoyant Capital is managed by three experienced investment professionals - Viral Berawala, Jigar Mistry, and Sachin Khivasara. Each brings a strong track record in equity research and investments, with Jigar specializing in sell-side equity research and Sachin and Viral having previous fund management experience at top-tier firms. The senior investment team members have specific sector responsibilities based on their expertise and collaborate on portfolio construction, weightages, and macro decisions in an Investment Committee format where all three must agree for investment decisions to be made. This process provides checks and balances and allows for specialized sector focus.
Investment Philosophy
Buoyant’s core investment belief is that “Good companies aren’t always great investments”, especially when cycles dominate outcomes. Buoyant Capital's Investment Philosophy is flexible and focused on cycles, including market-caps, sectors, investment styles, and stocks. The strategy involves moving dynamically across cycles to capitalize on attractive opportunities. They use a Core and Satellite approach to Portfolio Construction, adjusting the mix based on market cycles - Aggressive for higher satellite share, Defensive for higher core share.
PMS Background
Bouyant Capital PMS is a young PMS house (established in 2016) that is run by two credible investment managers – Sachin Khivasara & Jigar Mistry.
Young PMS backed by credible Investment Managers Bouyant Capital relatively newly established PMS house having less than 5 years track record. It has the potential to scale to a credible PMS player as it is managed by 2 seasoned investment professional. Bouyant has one of the strongest investment team among other sub-scale PMS houses.PMS Investment Philosophy
Investing through cycles utilizing Core & Satellite method of Portfolio Construction:
- Core: Preferring predictable Cash Flows rather than optional; Reinvestment (Preferring Dividend Yield versus Growth); Preferring industry Leaders rather than challengers.
- Satellite: Investing in cyclicals (such as Metals, CVs, NBFC); Companies making a Turnaround (like Disruption ending: Bharti Airtel); Value (leader largely expensive).
Investing also based on cyclical stance- Aggressive Cycle stance; Defensive Cycle Stance
Aggressive Cycle stance (Core-30% Satellite-70%)-- The main aim is to generate superior returns by focusing more on Satellite allocation rather than Core.
Defensive Cycle Stance (Core-70% Satellite-30%)-- The aim is to protect Capital by focusing on Core allocation rather than Satellite allocation.
Portfolio Positioning based on Market Conditions 'Aggressive' and 'Defensive' portfolio positioning based on the cycle. Suitable For Suitable for investors seeking quality, and growth at a reasonable price strategy.Investment team
Viral Berawala | 4-star rated FM
Director | 27 yrs Experience | 6 yrs at current firm
Past Experience: CIO (Essel Mutual Fund), CIO (Reliance Nippon Life Insurance), Head - Equities (Reliance Nippon Life Insurance), Assistant Fund Manager (Reliance Mutual Fund), Equity Research Analyst (Reliance Mutual Fund)
Viral Berawala comes with 22 years of experience. He started his career with TCS as an IT Analyst in 1999. It was only in April 2007 that Viral had started his investment management career as an Equity Research Analyst at Reliance Mutual Fund. He steadily rose through the ranks at Reliance to become CIO at Reliance Life Insurane, a position he held for about 5 years.
Jigar Mistry | 4-star rated FM
Co-Founder | 24 yrs Experience | 8 yrs at current firm
Past Experience: Director, Materials Group (HSBC), SVP (Quant Capital), Research Analyst (Kotak Investment Banking), Research Analyst (Prabhudas Lilladher Pvt Ltd)
Jigar Mistry has over 18 years of experience in Indian Capital Markets. He is CA and a CFA Charter holder. Jigar has extensive experience as a sell-side analyst in leading broking houses like HSBC and Kotak Institutional Equities. His expertise lies in conducting detailed research with strong on-the-ground checks.
Sachin Khivasara | 4-star rated FM
Portfolio Manager | 24 yrs Experience | 8 yrs at current firm
Past Experience: Enam, Reliance MF
Sachin has over nineteen years of experience in Indian Capital Markets. Sachin has worked extensively with leading Investment Managers like Enam Holdings and Reliance Mutual Fund.
