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SageOne PMS

PMS Rating

IME PMS Rating

4 of 5 stars

Highly recommended for aggressive investors looking for significant value creation opportunities: SageOne has a clear investment philosophy that focuses on investing in fast growth & high-quality businesses for the long run. Their CIO Samit Vartak has developed his investment credentials at SageOne, and with close to a decade's track record he may now be considered a seasoned investor. Supported by a strong research team and a strong philosophy, SageOne PMS is a good AMC for investors seeking mid & small-cap exposures.

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 (2863cr) | Promoter Category ()

AMC Background

SageOne was founded in 2012 by Samit Vatrak, an investment professional with credentials in private equity and corporate advisory. SageOne applied for a PMS license in 2017, and launched their first offering Sage One Diversified Portfolio in Jan-2017. They have since launched a small/micro-cap PMS & large-cap portfolios, along with AIF strategies. Via SageOne, Samit aims to bring the longer-term private equity approach style of investing to listed equities.

Investment Philosophy

The SAGE acronym helps define the type of companies that SageOne seeks to invest in – Sustainable, Accountable, Growth-oriented and Efficient.

The aim is to invest in high-conviction growth businesses that have a sustainable competitive advantage and are run by clean and competent management at reasonable valuations. The focus is on investing in superior businesses, and SageOne will not invest in a weak business irrespective of how attractive the valuations may appear.

Investment Philosophy Built On

  • Superior Growth: minimum 20% compounded earnings growth at individual level and 25% at portfolio level
  • Market Share Gains: to contribute to incremental growth in earnings
  • Profitability: strong and profitable businesses with >20% ROEs to fund growth internally
  • Capital Allocation: incremental ROE higher than existing ROEs
  • Efficient Moat: most efficient players industries (leaders or expected leaders due to superior strategy and positioning)
  • Reasonable Valuation: SageOne will not invest in a weak business irrespective of how attractive the valuations may appear.

Risk Management

  • Prudent Stock Selection: driven by financial and business analysis, internal forensic model to eliminate questionable business practices and management, and portfolio construction to minimise non-systemic risk
  • Sectoral and Stock Limits: Maximum 25% exposure to a sector and maximum 20% exposure to any business group
  • Timely Rebalancing: Active calls on liquidity based on external risk factors (macro, market volatility and valuations)
  • Active Monitoring and Action: Strong network across industries for channel checks. Active entry/exit on changing business dynamics.

Inv Team

Investment Team

Samit Vartak | 4-star rated FM

Founder & CIO | 25 yrs Experience | 12 yrs at current firm

Past Experience: Axis PE (VP), Ernst & Young (Associate Director)

Samit is the Founding Partner & CIO of SageOne. He has experience in Private Equity (at Axis PE Fund) and Corporate Strategy, Investment Banking and Business Valuations in the US (at E&Y and Deloitte).

PMS/AIF Schemes

PMS & Listed Equity AIF Schemes

Scheme Category Style 1 yr 3 yr 5 yr Since Inc
SageOne Small Cap Small Cap GARP 44.3 25.6 29.7
SageOne Mid & Small Cap Mid & Smallcap GARP 61.4 23.7 24.6 18.5
SageOne Flagship Growth 1 AIF Mid & Smallcap GARP

Returns as of 28-Feb-24.

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Details shared on the public website, are only a short snapshot of the more detailed analysis that resides in our Proprietary Research Management Solution (RMS) – A proprietary cloud-based tool, that ensures that the unbiased research insights of our central research team are shared directly with investors.

Our RMS allows us to operate with a level of transparency, ethics & consistency of insights, that is unparrarelled in the industry. Our RM’s will help showcase the PMS/AIF options that are the most suited for your unique requirements.

Download Sample RMS Reports: AMC View | Scheme Comparison

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.