Awriga Core
Awriga PMS | Equity | | PMSIME's View on Awriga Core
Strategy
Investment Fund
Awriga Core has a seasoned investment team & a reasonably well articulated investment process. While the fund can be considered for investment, we would prefer other more matured & established strategies within the same category.
Fund's Strategy View
The strategy follows a pre-defined approach, focusing on 15-20 companies based on business quality and liquidity, which determines the portfolio's weightings. It adheres to their well-defined investment process to ensure disciplined decision-making.
Fund Performance
The fund has underperformed peers in the last 5yr trailing returns.
IME's View on Awriga PMS
View on AMC
Awriga is a boutique, partner-led PMS firm that blends institutional-quality research with a focused approach. Backed by 2 seasoned investment professional, Awriga makes for a good option for investors.
AMC's Pedigree
Founded in 2017, the AMC has steadily built a reputation. While relatively under the radar compared to larger peers, Awriga’s lean structure, experienced leadership, and long-term orientation make it well-suited for investors seeking high-conviction portfolios.
AMC Team
The founding team of Awriga has a strong pedigree of accomplishments and significant fund management experience. Awriga Capital Advisors is co-founded by Jinal Sheth and Gokul Maheshwari, both bringing strong investment track records and institutional expertise. The founding partners collectively have over three decades of experience.
Investment Philosophy
Awriga follows a disciplined, four-step investment process anchored in: fundamental analysis, valuation approach, behavioral analysis, and portfolio construction. The strategy focuses on investing in high‑quality companies trading below intrinsic value, while concurrently analyzing investor behavior to avoid herd-driven mispricing. Portfolios are kept compact (typically 15–20 names), with allocation calibrated to business quality and liquidity.
Investment Strategy
Awriga Core Strategy seeks to achieve capital appreciation by investing in high-quality companies with strong competitive advantages, purchased at discounts to their fair value. Employing a comprehensive approach that includes fundamental and behavioral analysis, as well as prudent portfolio construction, the strategy aims to deliver superior risk-adjusted returns for investors.
Core Investment Approach
Fundamental Analysis:
- Conduct in-depth research to identify companies with robust business models and sustainable competitive advantages.
Valuation Approach:
- Focus on acquiring stocks that are trading below their intrinsic value, ensuring a margin of safety in investments.
Behavioral Analysis:
- Assess market sentiments and investor behaviors to identify mispriced opportunities and avoid herd mentality.
Portfolio Construction:
- Build a diversified portfolio across market capitalizations, emphasizing companies with strong fundamentals and growth potential.
Trailing Performance
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| Awriga Core | 0.4 | 16.8 | 18.7 | 16.8 |
| S&P BSE 500 | -6.6 | 14.7 | 19.2 | 14.2 |
| Alpha over Broad Mkt BM | 7 | 2.1 | -0.5 | 2.6 |
Performance as of: 30-Sep-25 | Inception Date: 27-Dec-19 | Performance are post-fees, pre-taxes. Global funds denominated in USD or fund currency.
Investment team
Jinal Sheth | 3-star rated FM
Founding Partner | 18 yrs Experience | 6 yrs at current firm
Past Experience: Multi-Act (PM), Sentry (PM), AMSEC (Analyst)
Jinal Sheth is the Founding Partner at Multi-Act Equity, with over 15 years of experience in equity markets. He has expertise in managing global and Indian companies, having previously headed the Portfolio Management Services business at Multi-Act Equity for 8 years, where he successfully grew assets under management from approximately ₹10 crore to ₹800 crore. Jinal holds a Master’s Degree in Finance from Boston, USA.
Gokul Maheshwari | 4-star rated FM
Founding Partner | 25 yrs Experience | 6 yrs at current firm
Past Experience: Moasic Advisors (Sr Partner), Multi-Act (Sr Research Analyst)
Gokul Maheshwari is the Founding Partner with expertise in Asian equity markets. A Chartered Accountant and CFA Charter holder, he was the youngest partner at a ~$1 billion Hong Kong-based Long-Only fund, where he worked across markets in Hong Kong, Indonesia, and India. Most recently, Gokul headed the India operations, gaining strong domain knowledge and experience in building successful teams across diverse geographies and cultures.
