Bhana Equity PMS Recommendation & Review

Scheme Rating

IME Scheme Rating

The Scheme does not meet our selection criteria at this time

IME Strategy Rating

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Not under our coverage universe: Bhana Equity PMS is currently not under our coverage universe.

PMS Scheme Ratings are driven by IME’s Proprietary Scheme Rating Methodology, which takes into account our ratings of the Scheme’s investment strategy, its maturity, the investment team, and our separate rating on the AMC that runs this particular scheme. Our views on each of these individual criteria are available via the IME RMS – which you can view by reaching out to one of our relationship managers (using either the live chat or book appointment feature on this site).

IME View on Bhana Equity PMS

Type: Flexi Cap | GARP | AUM ( cr) | Inc Date (5.0)

Investment Philosophy

INVESTMENT STRATEGY

Benchmark agnostic diversified all-cap portfolios.
Fundamental-based ideas picked via a bottom-up approach.
Large-cap allocation based on top-down sector view with a focus on stability.
Alpha from exposure to broader market companies with sustainable business and high ROEs.
Endeavor to generate alpha and wealth creation by buying with typically 3-5 years holding period.
15:15:15 discipline: Invest predominantly in companies qualifying in at least 2 out of these 3 criteria
- >15% ROE
- >15% earnings growth
- < 15 P/E Ratio

KEY PHILOSOPHY TENETS

Alpha Generators: Invest in growth companies with fundamentally underpriced mid-cap stocks with a scalable business model.
Fundamentally Driven: Bottoms up research with a focus on the Balance sheet and focus on earnings.
Happy to be a Contrarian: Open to being first/only investors not chasing the momentum.
Agile and Flexible: Investment not constrained to a particular theme or style.
Patient Investors: Buy and Hold i.e Invest like investing in the business.
Risk Reward Equation: Expected returns have to justify the risk or uncertainty taken.

Contrarian Approach with focus on Earnings Growth The core investment philosophy focused around the 15:15:15 strategy does enforce a certain amount of rigour in terms of ensuring that investments are either made in attractively valued companies (<15 PE) or in more expensive companies that have to meet a high-quality test (both ROEs & Earnings growth of above 15%). Abakkus invests predominantly in companies qualifying in at least 2 out of 3 criteria.

Trailing Performance

	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Bhana Equity Growth	80.32
S&P BSE 500 TRI	26.6
Alpha (over Broad Mkt BM)	53.7
Nifty 500	25.8
Alpha (over Category BM)	54.5

Fund Managers

Bhana Equity Growth

Not under coverage: This scheme is currently not under our coverage universe.Not under coverage: This scheme is currently not under our coverage universe.Not under our coverage universe: Bhana Equity PMS is currently not under our coverage universe. Not under our coverage universe: Bhana Equity PMS is currently not under our coverage universe. Fund Yet to Mature: While the fund has been around for more than 3 years, it has still not established a 5-year track record. A 5-year track record helps provide greater clarity on fund performance across market conditions.Fund Yet to Mature: While the fund has been around for more than 3 years, it has still not established a 5-year track record. A 5-year track record helps provide greater clarity on fund performance across market conditions.

AMC

AMC: (click link for detailed AMC review)

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.