iThought Solitaire
Our view on the fund, the AMC, the strategy, the performance & the investment team.
IME's Review of iThought Solitaire
| Fund Rating | Strategy Rating | Performance Rating |
|---|---|---|
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View on the Fund
While this fund can be considered for investment based on its performance, we prefer other funds in the same category that offer a stronger pedigree built over longer track records. This fund is still in the process of establishing that level of consistency and credibility.
Strategy
Fund's Strategy View
Ithought Solitaire seeks to invest in well-managed companies with proven business models at reasonable valuations, to give investors stable, & consistent returns. We would recommend that investors wait for the strategy to mature, to understand longer-term returns before investing.
Fund Performance
The fund has outperformed peers & is amongst the top performing schemes in this category in the last 5 year trailing returns.
Trailing Performance
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| iThought Solitaire | 2.5 | 20.2 | 22.6 | 20.6 |
| S&P BSE 500 | 6.5 | 15 | 15 | 17.2 |
| Alpha over Broad Mkt BM | -4 | 5.2 | 7.6 | 3.4 |
Performance as of: 31-Jan-26 | Inception Date: 30-Aug-19 | Performance are post-fees, pre-taxes. Global funds denominated in USD or fund currency.
Investment team
Shyam Sekhar | 3-star rated FM
Fund Manager | 36 yrs Experience | 10 yrs at current firm
Past Experience: Ideator(Ithought)
Mr. Shyam Sekhar has more than 3 decades of investing experience in franchise based high growth businesses. He follows a value-based approach to investing. His focus is on identifying investment opportunities in emerging companies through a sound research driven process. His strengths include exposure to multiple industries as a research analyst, creating large sized portfolios and investing across market cycles.
IME's Review of iThought PMS
| AMC Rating | Pedigree Rating | Team Rating | Philosophy Rating |
|---|---|---|---|
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View on AMC
ithought PMS is a relatively new portfolio management firm, but is backed by a founder with deep experience in equity markets, albeit in equity research and advisory roles. The firm has done well since its PMS launch despite a lack of past fund management credentials (with a public track record); however, we would recommend caution since the firm and the team is yet to demonstrate its ability to execute the philosophy across various market conditions.
AMC's Pedigree
Rooted in equity research and advisory since 2009, iThought evolved into a SEBI-registered PMS firm in 2019. The firm has since scaled its PMS operations.
AMC Team
Shyam Sekhar, Founder, CIO & Fund Manager comes with over 30 years of equity investing experience focused on franchise businesses and thematic insights. He is supported by Balaji G R (Head of Research & Co‑Fund Manager), Rohit Balakrishnan & Rajat Setiya (Co‑Fund Managers) and Niranjan Sridhar (Head of Strategy).
Investment Philosophy
ithought follows a value‑oriented, bottom‑up investment philosophy, emphasizing capital preservation through detailed fundamental and behavioral analysis. Across strategies, the firm warms averse to IPOs, momentum trades, and over-leveraged companies, using concentrated portfolios, valuation discipline, and long holding periods to manage return-risk dynamics.
AMC Background
ithought was founded in 2009, and since has evolved from a research and advisory-led practice into a full-service PMS firm. ithought’s positioning in the Indian investment management landscape is built around its research heritage, performance focus, and cost-aware philosophy, having managed clients’ capital for over a decade. The investment team is led by Shyam Sekhar as CIO and Fund Manager, supported by co-fund managers and analysts.
Investment Philosophy
ithought’s investment philosophy is centred on bottom-up, fundamental investing with a long-term orientation and valuation discipline at its core. Across its PMS offerings, the firm seeks to invest in well-managed companies with sustainable business models, strong balance sheets, and reasonable valuations — believing such characteristics are prerequisites for consistent compounding of capital over full market cycles.
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