Sameeksha PMS

AMC Background

Sameeksha Capital was founded in 2015 by Bhavin Shah, a highly acclaimed equity and technology analyst, initially as a vehicle to manage his personal capital within a structured framework before being opened to external investors via a PMS platform. The AMC’s pedigree is closely tied to Bhavin Shah’s strong fundamental research credentials, particularly in the technology sector, where he has received multiple industry awards. This deep research background has shaped Sameeksha’s identity as a research-led PMS with a strong emphasis on process, discipline, and bottom-up stock selection.

Investment Philosophy

Sameeksha’s investment philosophy is anchored in Bhavin Shah’s time-tested fundamental research approach, which has been institutionalised into robust internal processes and proprietary frameworks. The philosophy focuses on combining business quality with valuation discipline, actively managing downside risks, and continuously reassessing investment merit as prices evolve.

Core Pillars of the Philosophy

• Proprietary Multi-layered Stock Selection Checklist: A structured process designed to eliminate weak business models while reducing behavioural and personal biases.
• Value vs Quality Matrix: A proprietary framework that ensures high-quality businesses are purchased with valuation discipline.
• Active Sell Framework: Continuous reassessment of holdings as stocks approach forward intrinsic value, ensuring capital is redeployed efficiently.
• Detailed Financial Models: Standardised, in-house earnings models that provide granular insights into both business quality and valuation.

Risk Management

• Sectoral Exposure: Capped at <40% to limit concentration risk.
• Loss Minimisation: Mandatory review of positions that decline ~15%, conducted under normal market conditions to distinguish stock-specific issues from broader market volatility.

Portfolio Construction

Sameeksha follows a flexible, bottom-up portfolio construction approach centred on conviction rather than model portfolios. Portfolios are tailored based on prevailing opportunities at the time of investment, with active use of cash and selective hedging when appropriate.

• Concentration: Typically 15–30 stocks, with larger weights in high-conviction ideas.
• Cash & Hedging: Ability to hold cash and partially hedge using index futures (subject to client mandate).
• Investment Horizon: >2 years, with periodic review of all positions.
• Position Limits: Maximum 20% at cost and no more than 30% at market value.
• Execution Flexibility: No rigid model portfolio; only stocks trading below buy levels are added to new client accounts.

Suitable For

Investors seeking a concentrated, research-driven PMS strategy backed by strong fundamental analysis, active portfolio management, and disciplined downside risk controls.