Avestha Growth
Our view on the fund, the AMC, the strategy, the performance & the investment team.
IME's Review of Avestha Growth
| Fund Rating | Strategy Rating | Performance Rating |
|---|---|---|
Upgrade | Upgrade | Upgrade |
View on the Fund
A combination of an experienced investments professional with reasonable performance, indicates that Avestha Growth can be considered for investments.
Strategy
Fund's Strategy View
Concentrated Portfolio (12-18 holdings). Buy-&-Hold Strategy that allows ample room for recognition of our preferred equity characteristics. Sector Agnostic as stock selection approach will be bottom-up. It finds principal basis in Balance sheet strength, Promoter history, Capital efficiency and Business Scalability/Growth runway.
Fund Performance
The fund has outperformed peers in the last 5 year trailing returns. 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.
Trailing Performance
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| Avestha Growth | -0.2 | 17.1 | 22 | 15.4 |
| S&P BSE 500 | 6.5 | 15 | 15 | 13.1 |
| Alpha over Broad Mkt BM | -6.7 | 2.1 | 7 | 2.3 |
| Nifty Midcap 150 | 8.3 | 22.8 | 22.2 | |
| Alpha over Category BM | -8.5 | -5.7 | -0.2 |
Performance as of: 31-Jan-26 | Inception Date: 01-Nov-17 | Performance are post-fees, pre-taxes. Global funds denominated in USD or fund currency.
Investment team
Farokh Pandole | 4-star rated FM
Founder & Portfolio Manager
Past Experience: Equity Portfolio Manager (HDFC Life), Head of Indian Equity Distribution (Citigroup Global Markets), VP (Alliance Capital Mutual Fund)
Farokh Pandole's experience includes sell-side and equity sales roles for 13 years. His experience in Private Equity and Asian coverage at Alliance-DLJ before managing an equity portfolio at HDFC Life gives him a holistic view of his investments.
IME's Review of Avestha PMS
| AMC Rating | Pedigree Rating | Team Rating | Philosophy Rating |
|---|---|---|---|
Upgrade | Upgrade | Upgrade | Upgrade |
View on AMC
Avestha is a boutique PMS provider that offers concentrated equity portfolios. Founded in November 2017, the firm has built a solid presence with its Growth PMS strategy, offering a disciplined, bottom‑up investment framework that marries quality business fundamentals with upside potential.
AMC's Pedigree
Founded in 2017 by Farokh Pandole, Avestha has scaled across a single multicap/flexicap product, reflecting confidence in his investment vision.
AMC Team
The PMS is driven by Farokh Pandole, Harvard-educated (Honors Economics, 1992; Wharton MBA, 1995), with over 25 years in public markets including sell-side and institutional roles. He is the sole portfolio manager for Avestha Growth PMS, supported by a lean but focused team. Farokh’s background—spanning Alliance, Citi, BofA, and HDFC Life—provides a strong foundation in both research and portfolio management.
Investment Philosophy
Avestha Growth PMS follows a focused, bottom-up, quality-and-growth framework with low churn. Investments are made in 12–18 high-conviction stocks selected based on strong balance sheets, promoter credibility, capital efficiency, scalability and growth runway. The strategy is sector‑agnostic, benchmark‑agnostic, and emphasizes long-term compounding from quality businesses bought at reasonable valuations. It aims to capitalize on asymmetric risk-reward via concentrated portfolios and deep fundamental diligence.
Investment Strategy
Avestha Growth Fund is a multi-cap strategy focused on investing in high-quality businesses with the objective of capitalising on asymmetric risk–reward opportunities. The portfolio is constructed using a bottom-up, sector-agnostic approach and is typically concentrated in 12–18 holdings. The strategy follows a buy-and-hold philosophy, allowing sufficient time for business fundamentals such as balance sheet strength, promoter track record, capital efficiency, and scalability to translate into long-term value creation.
PMS Background
Avestha PMS was founded in November 2017 by Farokh Pandole, a seasoned equity investor with a strong track record across sell-side research, equity sales, and portfolio management. Farokh brings over 13 years of experience, including roles covering Asian markets at Alliance-DLJ and managing equity portfolios at HDFC, giving him a holistic perspective across research, markets, and portfolio construction. While the PMS is led by an experienced investor, the strategies are relatively young and are yet to be tested across multiple market cycles.
PMS Investment Philosophy
Avestha PMS aims to generate long-term wealth through a concentrated portfolio of approximately 12–18 high-quality businesses. Stock selection is bottom-up and sector agnostic, with emphasis on balance sheet strength, promoter track record, capital efficiency, and long-term growth runway. The strategy adopts a long-term ownership mindset with low portfolio turnover, focusing on compounding returns through sustained business quality rather than frequent trading.
Suitable For
Investors seeking a long-term, concentrated portfolio of high-quality companies, managed by a seasoned portfolio manager, and who are comfortable with a relatively short strategy track record.
Experience the benefits of working with a 'research-first' investments firm
Free 15-Day Trial of IME RMS App
Get complimentary access to the revolutionary IME RMS App (direct access to IME's central team insights across 1000's of MFs, PMSs, AIFs & Global funds - a first in the industry).
Additionally, a dedicated private banker will help build your financial plan, investment mandate & undertake a comprehensive portfolio review for free.
