Anand Rathi Impress
Anand Rathi PMS | Equity | | PMSIME's View on Anand Rathi Impress
Strategy
Investment Fund
While we acknowledge the strategy’s improved performance, especially in recent periods, we remain skeptical about the AMC’s overall pedigree and the lack of similar performance delivery across its other schemes. The strategy can be considered for investment; however, we continue to prefer other well-pedigreed funds within the category
Fund's Strategy View
Anand Rathi's Impress PMS is a Multicap aggressive concentrated portfolio of 15 - 20 stocks with 70%+ into the mid and small-cap. Sectorally well-diversified portfolio. Focus more on growth strategy with companies with better margins, return ratio, corporate governance and earnings visibility.
Fund Performance
The fund has outperformed peers & is amongst the top performing schemes in this category in the last 5 year trailing returns. In terms of longer-term annual performance, performance consistency has been mixed, with the fund having outperformed & underperformed the bechmark roughly in half the years.
IME's View on Anand Rathi PMS
View on AMC
Anand Rathi has scaled meaningfully, and the presence of Mayur Shah, a homegrown fund manager, has brought greater stability to the team. However, his ownership stake in the AMC introduces uncertainty around potential churn. Additionally, the fund’s performance has been highly volatile. Given these factors, we do not recommend the strategy for investment at this time.
AMC's Pedigree
Anand Rathi’s equity research capabilities are strong, and while their PMS business has scaled up well in recent years, it still represents a relatively small portion of the overall group
AMC Team
Mayur Shah began his fund management career within Anand Rathi, having been with the firm for nearly 20 years and heading the PMS arm since 2017
Investment Philosophy
Anand Rathi PMS does not have a set investment philosophy at the PMS level; instead, the philosophy is determined at the scheme level.
Anand Rathi Impress PMS- Investment Strategy
Anand Rathi's Impress PMS is a Multicap aggressive concentrated portfolio of 15 - 20 stocks with 70%+ into the mid and small-cap. Sectorally well-diversified portfolio. Focus more on growth strategy with companies with better margins, return ratio, corporate governance and earnings visibility.
Trailing Performance
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| Anand Rathi Impress | 0.7 | 21.3 | 26.2 | 14.8 |
| S&P BSE 500 | 4.1 | 14.5 | 19.6 | 14.6 |
| Alpha over Broad Mkt BM | -3.4 | 6.8 | 6.6 | 0.2 |
Performance as of: 31-Oct-25 | Inception Date: 31-May-17 | Performance are post-fees, pre-taxes. Global funds denominated in USD or fund currency.
Investment team
Mayur Shah | 3-star rated FM
Fund Manager | 21 yrs Experience | 19 yrs at current firm
Past Experience: AVP-PMS
Mr. Mayur Shah is Fund Manager for PMS's run at Anand Rathi, he has done post graduation in MBA Finance and CFP. He has more than 15 years of rich experience in Investment advisory, Product Development and Portfolio Management. He had Started Career with Kotak Securities Ltd in 2005 as an Investment Advisor subsequently got into developing Equity products and running the same. From last 13 years he is part of Anand Rathi group and worked across Portfolio Management and Private Client Group Equity Advisory. Recently, the MNC fund being managed by him has been featured in top 3 pms based on 1 year performance in economic times.
