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Spark Asia PMS

PMS Rating

IME PMS Rating

3 of 5 stars

Not a top recommendation as it is still a young AMC at this time : Spark Capital is still too nascent as a PMS provider to recommend investments in. It does have a few positives for it to emerge as a credible player in the future (a strong niche institutional equities business, a highly seasoned CIO), though we would ideally recommend investors wait for their longer-term track record to be more firmly established, along with a more clearly defined investment philosophy.

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 (480cr) | Promoter Category ()

PMS Background

Spark PMS is the PMS arm of Spark Capital (a niche, mid-market Investment Bank & Institutional broker). It is a relativey young PMS, with the PMS license only coming through in Nov-2018.

AMC still young with strategies having less than 3 years of tenure

PMS Investment Philosophy

Spark PMS does not have a clearly articulated investment philosophy, with the focus being on following a strong research process.

Inv Team

Investment Team

P. Krishnan | 4-star rated FM

CIO

Past Experience: Manager (Carlson Funds and DNB Asset Management, Norway) ,Fund Manager (Kothari Pioneer Bluechip Fund aka Franklin Indian Bluechip Fund), Manager (SBI Mutual Fund)

Krishnan has about 3 decades of experience in asset management and equities. He has experience in regional emerging markets such as China, Taiwan, Korea and the ASEAN region. He was the manager of India’s first bank-sponsored mutual fund scheme (SBI Mutual Fund) between 1990 and 1992. He was also the fund manager of India’s first private sector mutual fund Kothari Pioneer Bluechip Fund which is now Franklin India Bluechip. During his stint with DNB Asset Management, Norway, Krishnan had gained great experience in the Asian EMs.

PMS/AIF Schemes

PMS & Listed Equity AIF Schemes

Scheme Category Style 1 yr 3 yr 5 yr Since Inc
Spark Asia India@75 Core & Satellite Flexi Cap GARP 55.8 27.1 25.9
Spark Asia India@75 Flexicap Flexi Cap GARP 53.9 25.9 21 20.8

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.

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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.