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Ambit Good & Clean MidCap

Scheme Rating

IME Scheme Rating

3 of 5 stars

Investment Option: Would recommend that investors seeking to invest in this strategy invest instead with the strategy’s original team who now runs a similar strategy at Marcellus.

IME Strategy Rating

5 of 5 stars

Concentrated Mid-Cap Strategy: The strategy focuses on a concentrated portfolio of 15-20 companies, showing a preference for mid-cap firms. Companies undergo a rigorous forensic check to ensure selection of fundamentally sound and ethically strong “Good & Clean” companies. The genuineness of reported accounts is a common problem while evaluating Indian businesses (especially those in the small & mid-cap spaces). Ambit PMS’s Good & Clean strategy aims to address this issue by investing only in companies that meet the highest quality of accounting & business quality (based on their proprietary forensic accounting & greatness framework).

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 Ambit Good & Clean MidCap

Type: Large & Midcap | GARP | AUM (606 cr) | Inc Date (12 Mar 2015)

Ambit Investment Advisors Good and Clean India Fund- Investment Strategy

Focus on small cap companies with market-dominating franchises

Ambit PMS’s Good & Clean portfolio aims to invest in small-cap companies with market-dominating franchises.

Ensuring a sustainable wealth creation by looking for a track record in terms of: 

  • Clean Accounting 
  • Efficient capital allocation 
  • Good corporate governance 

INVESTMENT PROCESS

Filter companies based on two factors:

  • Qualitative factors: Incremental Capex year-on-year, sales growth, PBIT margin, efficiency in capital employed turnover, D/E, equity dilution, CFO.
  • Quantitative factors: BSE 500 companies, median market-cap of the portfolio is Rs38010 cr, the efficiency of capital allocation, quality of accounts, bottom-up research, concentrated portfolio of 15-20 companies leading to the low churn of 15-20%.

Trailing Performance

1yr 3yr 5yr Since Inception
Ambit Good & Clean MidCap 47.6 20.3 21.2 15.6
S&P BSE 500 TRI 41.1 18.4 22.4 15.9
Alpha over Broad Mkt BM 6.5 1.9 -1.2 -0.3
Nifty 500 40.2 17.2 21
Alpha over Category BM 7.4 3.1 0.2

Performance as of: 30-Sep-24 | Inception Date: 12-Mar-15

Fund Managers

Fee Structure

Fee StructureFee
Fixed Fee Structure2.5
Variable Fee Structures0% fixed + 15% no hurdle
Exit Fees

AMC

AMC: Ambit PMS (click link for detailed AMC review)

Not a top recommendation (at this time) due to the FM churn: Ambit PMS is essentially in a rebuild mode, after the top leadership of the investments team left to set up Marcellus in 2018. It will take some time for the PMS to stabilise under the new investment team, and until then investors seeking to invest in the good-and-clean companies (for which Ambit is known) would probably be better off investing at Marcellus (who follow essentially the same strategy).

AMC Rating

3 of 5 stars

AMC Pedigree

4 of 5 stars

AMC Size

4 of 5 stars

Team Pedigree

2 of 5 stars

Inv Philosophy

5 of 5 stars

Performance

5 of 5 stars

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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.

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