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Sameeksha PMS

PMS Rating

IME PMS Rating

5 of 5 stars

Highly recommended for aggressive investors : Sameeksha Capital's credibility is built on the strong fundamental research credentials of its founder Bhavin Shah. Bhavin has worked as a top-rated senior analyst at JP Morgan & Credit Suisse, post which he headed Equirius Research prior to setting up Sameeksha Capital. The combination of a highly-pedigreed fundamental research driven-manager, robust research processes combined with proprietary research tools, and strong performance make Sameeskha a good boutique option amongst PMS firms.

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 (759cr) | Promoter Category ()

AMC Background

Sameeksha Capital was founded in 2015 by Bhavin Shah (a highly acclaimed technology analyst), initially as a vehicle to manage his personal portfolio in a structured environment. It has since been opened to public investors via a PMS platform.

Investment Philosophy

Bhavin Shah has impeccable fundamental research credentials, which he has used as a foundation to build best-in-class research capabilities and time-tested processes at Sameeksha.

Sameeksha’s approach constitutes of 4 major factors:

  • Proprietary multi-layered stock selection checklist: Process addresses personal biases and help eliminate weak business models
  • Value vs Quality Matrix: Quality with value discipline on proprietary framework. 
  • Active Sell Framework: Re-evaluation of hold or sell as stocks approach forward price
  • Detailed Financial Models: home grown standardized earnings model providing insights into the quality and the value of the business

Risk Management

  • Sectoral Exposure: <40%
  • Loss Minimisation: Detailed review of the position at -15%. Typically done under normal market conditions after a review that no extraneous factors are affecting the stock price action.

Portfolio Construction

Key Aspects of Portfolio Construction

  • Concentration: Typically 15-30 stock concentrated portfolio based on bottom-up ideas. Large bets on very high conviction ideas. 
  • Cash Position: Flexibility to maintain cash position and partially hedging the portfolio through index futures (if allowed by the client)
  • Investment horizon: >2 years but positions are reviewed periodically
  • Position limit: 20% at cost and no greater than 30% on market value
  • Flexibility: Does not follow a model portfolio approach. Only those stocks below buy level get bought in new accounts.

Inv Team

Investment Team

Bhavin Shah | 5-star rated FM

Founder & Fund Manager | 28 yrs Experience | 9 yrs at current firm

Past Experience: Equirius Securities (Founder & CEO), JP Morgan (Head-Asia Pac Tech Research), Credit Suisse (Head-Asia Pac Tech Research)

Bhavin Shah comes with impeccable research credentials, especially in the technology space where he has repeatedly been a top-ranked analyst by Global Institutional Investors. He has also been responsible for building up 3 institutional equity franchises – at Equiris and the technology desks for JP Morgan & Credit Suisse.

PMS/AIF Schemes

PMS & Listed Equity AIF Schemes

Scheme Category Style 1 yr 3 yr 5 yr Since Inc
Sameeksha Equity Flexi Cap GARP 49.1 24.3 31.3 23.9

Returns as of 30-June-24.

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