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Invesco PMS

PMS Rating

IME PMS Rating

AMC does not meet our selection criteria at this time

Not a recommended AMC: While Invesco AMC does benefit from a strong research process and differentiated portfolios, the core investment team has only been together for a few years. It also suffers from common ailments of large AMC-driven PMS houses (PMS as an add-on instead of a clearly segregated business unit, churn in the investment team and a lack of skin in the game for the CIO). While it has the potential to become a strong AMC PMS player, it is still too early in terms of leadership change to recommend large investments in Invesco strategies.

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 (675cr) | Promoter Category ()

PMS Background

Invesco PMS is part of Invesco AMC (a relatively small Indian MF, but part of one of the largest global investment groups). The AMC prides itself on its investment processes (driven by a strong in-house stock categorisation mechanism) and on staying true-to-mandate.

PMS Investment Philosophy

Invesco PMS does not have a clearly defined investment philosophy at the PMS level, with investment philosophies being driven more at a strategy level (at which level the philosophies are quite tightly defined). However, they do have a strongly defined investment process (driven by their in-house categorisation of all companies in their universe as a star, leader, warrior, diamond, frog prince, shotgun and commodities).

Strong In-house Categorisation of all companies in their Universe

Inv Team

Investment Team

Amit Nigam | 4-star rated FM

Fund Manager | 23 yrs Experience | 6 yrs at current firm

Past Experience: Essel AMC (Head-Equities), BNP Paribas (FM), SBI MF (Analyst)

Amit has close to 2 decades of investment experience, with fund management and research experience in Essel AMC, BNP Paribas and SBI Mutual Fund. He joined Invesco PMS in Apr-2018.

Taher Badshah | 4-star rated FM

CIO | 30 yrs Experience | 7 yrs at current firm

Past Experience: Motilal AMC (Head Equities), Kotak International (FM), ICICI Pru PMS (FM)

With over 25 years of investment management experience, Taher is the CIO of Invesco AMC (overseeing both the MF & PMS divisions). Taher was responsible for the stellar growth of Motilal AMC, where he was head of equities over Jun-2010 to Dec-2016. His prior fund management experience includes managing funds at Kotak International and ICICI Pru PMS.

Neelesh Dhamnaskar

Principal Officer & Fund Manager | 19 yrs Experience | 14 yrs at current firm

Past Experience: Research Analyst( Enam Securities)

Neelesh has over 17 years’ experience in equity markets and financial services domain. Before joining the PMS division of Invesco, Neelesh was managing few equity funds, overseas fund of fund schemes of Invesco Mutual Fund as well as tracking few sectors as an analyst. He was previously working with Enam(now a part of Axis Bank) where he was tracking companies across sectors and assisting the PMS Fund Manager in his investment decisions. Prior to this, he was working with KRC, a domestic broking house in equity research and has also worked with Anand Rathi Securities Limited as a Commodities Research Analyst. Neelesh holds a Commerce degree and an MMS degree with specialization in Finance from Mumbai University

Sameer Narayan

Fund Manager | 22 yrs Experience | 4 yrs at current firm

Past Experience: SVP-Adani Advisory

Sameer has more than 20 years of experience in Indian equity markets. In his role as Principal Officer, Sameer will be responsible for the PMS division within the firm. His last assignment was with Adani Advisory LLP as Sr. Vice President where he established the Family Office and was responsible for advising investments in Indian equities. In the past, he has also worked with BNP Paribas Investments managing onshore and offshore funds under Portfolio Management Services. Sameer has also worked with SSKI, Enam Securities and Motilal Oswal in the Research Function. He holds Masters in Management Studies (MMS) from Narsee Monjee Institute of Management Studies (NMIMS), Mumbai and B.E degree with specialization in Production Engineering.

PMS/AIF Schemes

PMS & Listed Equity AIF Schemes

Scheme Category Style 1 yr 3 yr 5 yr Since Inc
Invesco R.I.S.E Flexi Cap GARP 48.8 20.4 18.6 14.9
Invesco Dawn Large Cap GARP 38.3 21.2 18.5 11.4

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.