ALFAccurate AAA Opportunity
ALFAccurate PMS | Equity | | PMSIME's View on ALFAccurate AAA Opportunity
Strategy
Highly Diversified Flexicap strategy
Investment Fund
AlfAccurate IOP (India Opportunity Plan) is a very good option for investors, seeking to invest in PMS's but desire a lower level of volatility than more concentrated strategies. The strategy benefits from a very strong longer-term track record (especially in terms of risk-adjusted returns in the context of high levels of diversification), and a strong & stable investments team.
Fund's Strategy View
AAA IOP PMS is a portfolio of 40-60 companies which are Market leaders with strong corporate governance and high growth potential with investment horizon of 3-5 years. The strategy mandates a minimum 40% exposure to Large Cap stocks, with the flexibility to allocate the remaining portion based on the fund manager's perspectives.
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 ALFAccurate PMS
View on AMC
AlfAccurate Advisors is a boutique Portfolio Management Services (PMS) firm with over 15 years of track record, led by a pedigreed team with proven fund management expertise.
AMC's Pedigree
ALFAccurate, founded by an experienced fund manager with a strong track record, has over 10 years of consistent success managing a highly diversified portfolio, making it a top choice for investors looking to grow their wealth.
AMC Team
Before founding AlfAccurate Advisors, Rajesh Kothari built a strong track record in fund management—delivering consistent first-quartile performance at DSP Mutual Fund, growing AUM from $100 million to $1.5 billion, and earning multiple fund manager awards. He also managed a US-based India-focused fund, Voyager. In 2014, he was joined by Govind Agarwal, a seasoned investment professional with over 30 years of experience, including roles at Reliance AMC and UBS. Together, they form a highly experienced and stable investment team that has been at the core of AlfAccurate for over a decade.
Investment Philosophy
AAA follows a dual framework—DSD for capital protection and 3M for wealth creation. The DSD framework focuses on diversification across sectors and market caps, a staggered entry approach, and a disciplined exit strategy based on growth assumptions, valuation comfort, or capital reallocation. The 3M framework emphasizes investments in companies with a large Market size, dominant Market share, and a strong Margin of safety (valuation comfort). They rely on a forensic and fundamental process—evaluating corporate governance, cash flow quality, reinvestment ability, and management practices—before stock inclusion. Their internal checks and longevity filters help mitigate risk and build a durable portfolio.
Investment Strategy
AAA IOP (India Opportunity Plan) follows a diversified, multi-cap investment approach, typically holding 40–60 companies that are market leaders with strong corporate governance and high growth potential. The strategy follows a GARP (Growth at a Reasonable Price) philosophy, focusing on investing in high-quality businesses operating in large opportunity sets, with leadership positions in their sectors and available at reasonable valuations. Emphasis is placed on balance sheet strength, management quality, and governance standards to drive sustainable long-term returns.
Strong Risk Management Controls
AAA IOP is constructed with a clearly articulated risk management framework to ensure diversification and downside control:
- Large-cap exposure: 40–100%
- Mid / small-cap exposure: 0–60%
- Maximum weight in a single stock: 10%
- Maximum sector exposure: 35%
- Maximum weight in top 10 stocks: 50%
The strategy is led by Rajesh Kothari, a highly seasoned fund manager, supported by Govind, another experienced investment professional. With a track record spanning over a decade, AAA IOP has demonstrated consistent outperformance versus its benchmark, supported by disciplined execution and stable leadership.
AMC Background
ALFAccurate PMS was founded in May 2009 by Rajesh Kothari, a highly seasoned fund manager with a strong and consistent long-term track record. Rajesh has delivered sustained outperformance across multiple platforms, including his tenure at ALFAccurate, Voyager Investment Advisors (a US-based India-dedicated fund), and DSP Mutual Fund. The AMC is led by Rajesh Kothari and supported by Govind, another experienced investment professional, forming a stable and credible investment team. Since inception, ALFAccurate has remained a consistent outperformer, reinforcing the credentials and continuity of its leadership.
Investment Philosophy
ALFAccurate follows a GARP (Growth at a Reasonable Price) investment philosophy, implemented through its 3M framework—Market Size, Market Share, and Margin of Safety— while maintaining a strong emphasis on quality through the right balance sheets, management teams, and governance standards. The philosophy seeks to identify companies with significant earnings growth potential, leadership positions within their industries, and reasonable valuations, supported by disciplined risk management.
3M Investment Framework
- Market Size: Focus on companies operating in large and expanding opportunity sets, with earnings growth viewed as a primary driver of long-term wealth creation.
- Market Share: Preference for market leaders or top-three players within industries; even within small caps, emphasis is placed on segment leaders.
- Margin of Safety: Investments are made at reasonable valuations, ensuring downside protection while retaining upside potential.
Risk Management and Portfolio Construction
- Portfolios are diversified with clearly defined exposure limits across market capitalisation, sectors, single-stock concentration, and top-ten holdings.
- Risk controls are embedded at the portfolio level and vary by strategy, ensuring consistency across market conditions.
Investment Implementation and Exits
- Fresh investments are deployed into the best opportunities available at the time, rather than following a static model portfolio approach.
- Existing portfolios gradually align with newer portfolios over time, subject to tax considerations and holding constraints.
- Exits are driven by achievement of target prices, risk rebalancing needs, deterioration in the investment thesis, or the availability of superior opportunities elsewhere.
Suitable For
Investors seeking a diversified equity PMS with a risk–reward profile closer to mutual funds, while benefiting from the long-term stability and discipline of a high-quality, seasoned fund management team.
Trailing Performance
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| ALFAccurate AAA Opportunity | 3.3 | 17.5 | 19.7 | 18.3 |
| S&P BSE 500 | 4.9 | 14.6 | 17.2 | 12.9 |
| Alpha over Broad Mkt BM | -1.6 | 2.9 | 2.5 | 5.4 |
Performance as of: 30-Nov-25 | Inception Date: 23-Nov-09 | Performance are post-fees, pre-taxes. Global funds denominated in USD or fund currency.
Investment team
Govind Agarwal | 4-star rated FM
Director | 32 yrs Experience | 12 yrs at current firm
Past Experience: Reliance MF (FM) / UBS Securities (Equity Sales) / Motilal Oswal (Equity Sales)
A seasoned equity professional, Govind has over 2 decades of equity experience across fund management and institutional equity sales at top AMCs (Reliance MF) and institutional equity brokerage firms (UBS, Motilal).
Rajesh Kothari | 5-star rated FM
CIO | 29 yrs Experience | 17 yrs at current firm
Past Experience: Voyager (FM), DSP ML (FM)
Rajesh is the founder of AlfAccurate Advisors, which he set up in 2009, after a strong track record in equity fund management at DSP ML & Voyager. During his tenure at DSP ML, the AUM increased from $100 mn to $1.5 bn and the funds he managed consistently ranked in the top quartile of performance.
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