PMS Rating

IME PMS Rating

4 of 5 stars

Enam PMS scores well on most parameters - it is amongst the oldest PMS firms in the industry and is founded by a highly respected investment team. They run a concentrated GARP strategy, that has withstood the test of time. While Enam scores well across all parameters, performance in recent years has been slightly more subdued than their longer-term 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 (30480cr) | Promoter Category (Star FM)

AMC Background

Enam Asset Management Company Private Limited (Enam AMC) is a highly respected financial firm in India. The firm was founded in 1984 starting with providing specialised best-in-class research. Over time, the Enam Group built other business units such as investment banking, Retail and the AMC. The AMC was formed in 1997. With more than 25 years of experience in India’s capital market, Enam AMC has established a strong presence and is one of the few with more than 20year track record.

Investment Philosophy

Enam’s investment philosophy is a long-term focussed strategy that seeks to invest in high-quality businesses at attractive valuations by focussing on 5 key pillars

  • Business Opportunity: by assessing the size and attractiveness of the opportunity and estimating the quality and sustainability of growth
  • Longevity: evaluated by determining the competitive advantages over the long term to understand the opportunity’s predictability, adaptability and resilience.
  • Management Quality: by determining the integrity and intellect of the leadership and assessing the balance between ambition and pragmatism
  • Value Accretion: Evaluated by EVA-positivity, duration and magnitude and the extent of free cash flow by assessing return on incremental capital
  • Culture of Discipline: by turning volatility into an opportunity

Inv Team

Investment Team

PMS/AIF Schemes

PMS & Listed Equity AIF Schemes

No items found

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.