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NAFA PMS

PMS Rating

IME PMS Rating

AMC does not meet our selection criteria at this time

Not a recommended AMC: NAFA PMS is still sub-scale and has yet to prove its credentials as a good long-term PMS player.

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 (269cr) | Promoter Category ()

PMS Background

NAFA PMS (the ertshwhile Crest PMS) is a small PMS player that is part of the NAFA (ersthwhile Crest) group – an upcoming financial services players with interests in corporate advisory, wealth & asset management.

PMS Investment Philosophy

NAFA PMS follows a growth approach, with an aim of investing in quality Indian businesses that have a high growth potential. They invest in quality companies in India by focusing on: 

  • Strategic Capital Allocation: NAFA ensures they employ effective capital allocation and risk mitigation strategies in order to generate risk adjusted returns while choosing companies to invest in. 
  • Focused on Growth Assets: Focused on growing asset class in India by investing in quality companies in India with high growth potential. 
  • Risk and Return Optimization: In order to generate risk adjusted returns NAFA applies effective investment strategies with a well-defined risk mitigation mechanism to maximize value for their investors. 

Investment Process

NAFA Asset is a benchmark agnostic concentrated portfolio of good quality businesses. 

Stock Selection

  • Bottom-up Investment Process: driven by fundamental research with a view on top-down macro environment/opportunities.
  • Quantitative Screening: filtered for high growth, high ROCE, cash flows and leverage
  • Qualitative Evaluation: driven by corporate governance, promoter track record and other promoter related aspects
  • Valuations: businesses offering high return potential and margin of safety

Allocation of Selected Securities

  • Stock Exposure limit: not more than 10%
  • Sector Exposure limit: not more than 35%

Risk Management

Portfolio Construction

Portfolio constructed with the guidance of an investment committee. The portfolio is continuously monitored and reviewed periodically by the investment committee by closely observing the risk-reward composition and investment rationale on each stock. The investment committee comprises of seasoned and well respected industry professionals.

Inv Team

Investment Team

Balaji Vaidyanath | 3-star rated FM

Fund Manager | 21 yrs Experience | 9 yrs at current firm

Past Experience: Vice President & Principal Officer (Sundaram AMC), Portfolio Manager PMS (Sundaram AMC), Equity Research Analyst (Sundaram AMC), Equities & F&O Dealer (Kotak Securities)

Balaji Vaidyanath has experience of more than a decade in equity markets first as a research analyst and then as a portfolio manager at Sundaram Asset Management.

PMS/AIF Schemes

PMS & Listed Equity AIF Schemes

Scheme Category Style 1 yr 3 yr 5 yr Since Inc
NAFA Emerging Blue Chip Mid & Smallcap GARP 45.9 26.6 32.2 19.9
NAFA Small Cap Small Cap GARP 34.4 22.1 28.8 24.7

Returns as of 30-Sep-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.

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