Helios PMS

PMS Rating

IME PMS Rating

3 of 5 stars

Can be considered for investment: Helios India shares resources with Helios Singapore (the same team manages/advises FII fund, and the same team manages/advises both long-only and long-short strategy), this makes it not just another new PMS from scratch. Helios Singapore has 25 years of experience in Indian equities managing FII funds. Samir Arora and Dinshaw Irani come with over 25+ years of experience respectively.

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 (860cr) | Promoter Category ()

PMS Background

Helios Capital Management India is an AMC backed by the parent Helios Capital Management (Singapore). Helios Capital (Parent) is an India-focussed Singapore based AMC founded by Samir Arora along with Dave Williams and Karan Trehan in 2005. Helios Singapore is an 85% partner of Helios Capital India. Helios has 25 years of experience in Indian equities.

Investment Philosophy

Helios believe that strong and consistent portfolio returns come from both stock selection and careful portfolio construction. They build a portfolio on the basis of: 

  • What stocks to buy
  • What is their time horizon 
  • How many stocks to own  
  • When to sell

Investment Strategy

Themes to avoid 

  • Commodities 
  • ‘One billion consumer stories’- sectors where investors rely on billion plus Indian population to justify the opportunity 
  • State-owned companies 
  • Bet on India, not on Indians

Sell Strategy 

Sell when there is deterioration in fundamental developments, or when stock returns significantly outperform underlying earnings growth, high valuation. 

Portfolio Construction

The number of stocks to own at a time is driven by a robust portfolio that needs to have 2 kinds of stocks

  • Stocks offering “High confidence in reasonable returns”- 10 to 15 stocks (50-60% weight)
  • Stocks offering “Reasonable confidence in high returns”- 15 to 25 stocks (40-50% weight) 

Investment Process

  • Universe: 500 companies
  • Level 1: rejecting stocks to 275 stocks on the basis of favoured themes
  • Level 2: rejection based on industry dynamics, envisaged disruption, company management strength, corporate governance, financial analysis, medium-term triggers, valuation to be able to arrive at 150 stocks
  • Level 3: rejection consists of rigorous bottom-up research to arrive at an investable universe of 60 stocks
  • Portfolio: Handpick stocks that give high confidence to build a portfolio of 30-35 stocks

Inv Team

Investment Team

Samir Arora | 5-star rated FM

Founder & CEO, Fund Manager | 33 yrs Experience | 19 yrs at current firm

Past Experience: Head of Asian Emerging Markets (Alliance Capital Management)

Samir Arora is the Founder and Fund Manager of Helios Singapore. He has been managing FII funds with India-dedicated long and long-short strategies for the past 17 years at Helios. Prior to Helios, Samir was the Head of Asian Emerging Markets at Alliance Capital Management. He started his career at Alliance Capital as an International Analyst covering sectors in Japan, Australia and New Zealand. He later relocated to India as Fund Manager and CIO of Alliance Capital’s Mutual Fund business until 2003 before moving to Singapore to become Head of Asian EM. Samir Arora is a highly respected veteran of the Indian markets and has been recognised for his fund management skillsets as evident from the various awards he had won during his tenure at Alliance. He is an MBA graduate from IIM-C and received his undergrad in engineering from IIT Delhi. He also received a master’s degree in finance from the Wharton School of the University of Pennsylvania.

Dinshaw Irani | 4-star rated FM

CIO | 31 yrs Experience | 19 yrs at current firm

Past Experience: Executive Director (Artemis Advisors – Research Advisors to Helios Singapore), Principle Portfolio Manager (SSKI Portfolio Advisors), VP and Analyst – Asian EM (Alliance Capital Management), Analyst (Sun F&C AMC)

Dinshaw Irani is the CIO of Helios India. Prior to this, he was the executive director at Artemis Advisors (exclusive research advisors to Helios Singapore) for 14+ years. Dinshaw started his career as an Analyst at Sun F&C Mutual Fund and at Lloyd Securities. He later went on to become the VP of the Asian Emerging Market team for Alliance Capital (Mumbai) for 3 years covering consumer and pharma sectors.

PMS/AIF Schemes

PMS & Listed Equity AIF Schemes

Scheme Category Style 1 yr 3 yr 5 yr Since Inc
Helios Rising Large & Midcap GARP 48.5 17.8 26.1

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.