2Point2 Long Term Value
2Point2 PMS | Equity | | PMSIME's View on 2Point2 Long Term Value
Strategy
Sustainable Approach
Investment Fund
While 2Point2 Long-term Value has been defined as a flexicap/multicap fund, in practice they tend to have a lot more Mid & Small-cap exposure than traditional flexicap funds. Within mid & small-caps, they have managed to deliver consistent performance and this is a reasonable option for investors with a higher-risk appetitie seeking mid & small-cap exposures.
Fund's Strategy View
Long Term Value Fund is a high-conviction, value-oriented PMS. The strategy aims to “Buy the business, not the stock”—with a strong emphasis on quality, governance, and business durability with 15-18 stocks exposure (with no more than 10% per position at cost).
Fund Performance
Fund returns are largely in-line with category average returns over the past 5 years. In terms of longer-term annual performance, performance has been consistent, with the fund having outperformed it's benchmark in over 60% of annual calendar years.
IME's View on 2Point2 PMS
View on AMC
2Point2 Capital is a boutique PMS firm founded in 2015 by Amit Mantri and Savi Jain, both IIT-IIM graduates and CFA charterholders, with prior experience in private equity and hedge fund investing. 2Point2 is sharply focused on a single strategy—a concentrated, value-oriented equity portfolio.
AMC's Pedigree
2Point2 has matured, and the team has proven its ability to execute its stated investment philosophy since 2015. While the firm operates with a lean structure centred around a single strategy, its well-researched published works have triggered large market corrections and auditor exits (e.g., FMCG, internet, and textile company critiques) - a testimony to their research credibility.
AMC Team
Both Amit and Savi have experience in reputable private equity/hedge funds, but they are considered less experienced compared to managers in more established PMS setups. Amit Mantri brings experience from Tano Capital, a mid-market PE fund, while Savi Jain was formerly with Hornbill Capital, a hedge fund backed by Orchid Asia, and previously worked at Zephyr Peacock. Together, they bring over 27 years of combined experience in institutional investing and apply that to public markets via a fundamental, long-term lens.
Investment Philosophy
At the heart of 2Point2’s investment approach is a strong emphasis on capital preservation, followed by the pursuit of long-term absolute outperformance. Grounded in value investing principles, the fund focuses on buying high-quality businesses at reasonable valuations, with a clear margin of safety. Each investment undergoes private equity-style diligence, including 4–6 months of forensic checks and on-ground research. While the fund is both sector- and market-cap agnostic, it maintains a structural bias toward mid- and small-cap companies and consciously avoids real estate, commodity, and core infrastructure sectors.
2Point2 Capital Long Term Value Fund- Investment Strategy
Concentrated exposure following value investment philosophy
2Point2 Capital’s Long Term Value Fund follows a value-investment philosophy to build a concentrated 15-stock multi-cap portfolio of companies with strong moats, high ROEs and free cash flow generation that are available at reasonable valuations.Investment Philosophy
Businesses chosen for investment based on:- Competitive Moat: Businesses that have a strong competitive moat are able to create shareholder value. They seek to invest in businesses that have a strong competitive moat. Competitive moat that attract them are those driven by strong brands, distribution strength, having a cost advantage, technology and high switching cost. This showcases high capital efficiency and are cashflow positive. Also try to avoid businesses driven by regulations and political linkages.
- Margin of Safety: Seek to maintain valuation discipline by investing only at discount to intrinsic value resulting in margin of safety. This may lead to staying in cash in periods of unreasonable euphoric market and investing in periods of distress. Follows the principle of ‘Be fearful when others are greedy and greedy when others are fearful’.
- Corporate Governance: Believe in stabilized long-term returns can be achieved by partnering with managements which treat minority shareholders as equal partners. Avoid partnering with businesses with weak corporate governance practices and invest only in businesses with ethical management teams.
- Sectors: Prefer to invest in sectors that have long term growth opportunities. Avoid investing in highly regulated sectors, sectors linked to commodity prices, ‘fad’ driven sectors and sectors exposed to technological disruption. Also avoid investing in sectors that over long period generate accounting profits and not cash flows.
Trailing Performance
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| 2Point2 Long Term Value | 6.6 | 25.1 | 24.1 | 19.9 |
| S&P BSE 500 | -6.6 | 14.7 | 19.2 | 14.7 |
| Alpha over Broad Mkt BM | 13.2 | 10.4 | 4.9 | 5.2 |
| Nifty Midcap 150 | -5.7 | 21.8 | 26.6 | |
| Alpha over Category BM | 12.3 | 3.3 | -2.5 |
Performance as of: 30-Sep-25 | Inception Date: 20-Jul-16 | Performance are post-fees, pre-taxes. Global funds denominated in USD or fund currency.
Investment team
Amit Mantri | 4-star rated FM
Co-Founder & Fund Manager | 16 yrs Experience | 10 yrs at current firm
Past Experience: Hornbill Capital (VP), IDFC Alternatives, Zephyr Paeacock (VP)
Amit comes from a private equity background, with 5 years of PE experience at Zephyr Peacock and a short stint at IDFC Alternatives. Prior to founding 2Point2 Capital, Amit spent a year at Hornbill Capital (a Mumbai based hedge fund, co-sponsored by Orchid Asia - manager of $3bn+ of Asian equity assets).
Savi Jain | 4-star rated FM
Co-Founder & Fund Manager | 17 yrs Experience | 10 yrs at current firm
Past Experience: Jashn (Director), Tano Capital (Director), Frontline Ventures (Analyst)
Savi comes from a private equity background, with around 6 years of experience in Tano Capital (Mumbai based PE fund managing over $200 mn of assets) & Frontline Ventures.
