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Old Bridge Capital PMS

PMS Rating

IME PMS Rating

3 of 5 stars

Not a top recommendation as it is still a young AMC at this time : A relatively young PMS founded by a seasoned and respected investor, Old Bridge has suffered partly from the timing. It raised significant capital at the peak of the small & mid cap cycle and then had its portfolios underperform quite substantially given the small and mid-cap weights. This has to lead to a certain level of trust lost with investors, which may take some time to regain. However, Old Bridge clearly has the credentials and the pedigree to emerge as a strong player in the PMS market.

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 (1074cr) | Promoter Category ()

PMS Background

Old Bridge Capital is a relatively new PMS, founded in 2015 by Kenneth Andrade (a highly seasoned investor and ex-CIO of IDFC MF). In a fairly short period of time, Old Bridge has scaled up rapidly to over 800 cr of discretionary equity assets, on the back of Kenneth’s strong investment track record (especially in small and mid-caps) and distribution relationships.

PMS Investment Philosophy

Limiting capital losses by focusing on the durability of businesses and a margin of safety.

Old Bridge follows a long-term buy-and-hold strategy in enduring businesses with an emphasis on limiting capital losses (a high margin of safety). The focus is on durability of businesses (which is where the name old bridge come from – as bridges are built to last for the long-term with a carrying capacity higher than expected loads).

Inv Team

Investment Team

Kenneth Andrade | 5-star rated FM

Founder & CIO | 31 yrs Experience | 8 yrs at current firm

Past Experience: IDFC AMC (CIO), Kotak AMC (FM), Sharekhan (Head-Portfolio Advisory)

Kenneth has close to 30 years of investments experience, which included his role as CIO of IDFC AMC prior to founding Old Bridge Capital. Under Kenneth, IDFC MF was one of the fastest growing AMCs in India and Kenneth was instrumental in building the firm’s equity franchise.

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.