AMC Background

JM Financial PMS operates as part of the JM Financial Group, one of India’s most established and respected financial institutions with a legacy spanning over five decades. The JM Financial Group has built a diversified financial services platform across investment banking, asset management, lending, wealth management, and institutional equities, and is widely regarded for its strong governance standards, institutional research capabilities, and cycle-tested execution. The PMS business is embedded within this broader ecosystem, allowing it to leverage group-wide market intelligence, sectoral expertise, and risk management frameworks while retaining autonomy in portfolio construction and investment decision-making.

The PMS division reflects the group’s institutional DNA, combining seasoned leadership with structured research and execution processes. Investment management is led by Rakesh Parekh, CIO, Managing Director and Head, who brings over three decades of experience in equity research and fund management, with a deep understanding of sectoral cycles and long-term stock selection. He is supported by senior leadership including Ashish Chaturmohta, Managing Director, whose expertise lies in integrating technical analysis with macro and microeconomic signals. This leadership structure positions JM Financial PMS as a professionally managed, research-first platform designed for discerning investors seeking long-term wealth creation rather than short-term opportunistic trading.

Investment Philosophy

JM Financial PMS follows a disciplined investment philosophy centered on compounding value over the long term through high-conviction, research-driven portfolios. The firm believes that sustainable wealth creation is achieved by combining deep bottom-up fundamental analysis with an informed understanding of market structure, technical trends, and macroeconomic cycles. Rather than relying solely on one style, the philosophy integrates multiple analytical lenses to improve decision quality and manage downside risk across varying market environments.

A core pillar of the philosophy is high-conviction investing, where capital is allocated selectively to ideas backed by strong research conviction rather than broad diversification. Portfolios are constructed with an explicit focus on risk-adjusted performance, aiming to maximise upside participation while embedding safeguards to protect capital during periods of market stress. This reflects a belief that drawdown management is integral to long-term compounding, particularly for investor capital deployed across cycles.

Long-Term Orientation and Structural Themes

JM Financial PMS maintains a long-term investment orientation, favouring businesses that benefit from structural growth trends, robust governance frameworks, and enduring competitive advantages. Stock selection emphasises quality of earnings, balance sheet strength, and the ability of companies to compound value over time. The firm seeks to align portfolios with long-term economic drivers such as manufacturing expansion, consumption growth, financialisation, and digital transformation, while remaining valuation-conscious.

Technical and Fundamental Synergy

A defining feature of JM Financial PMS is the deliberate integration of technical analysis with fundamental research. Market momentum, price behaviour, and macro signals are used as complementary inputs alongside intrinsic value assessment to refine entry, exit, and position-sizing decisions. This blended approach is designed to improve timing, manage volatility, and adapt portfolios dynamically without compromising long-term investment theses.