Motilal Oswal Value- Investment Strategy
Focusing on good businesses that are run by great business managers for superior wealth creation
Motilal’s Value Strategy aims to benefit from the long term compounding effect on investments done in good businesses, run by great business managers for superior wealth creation.
Investment Philosophy
Motilal has a very clearly defined investment philosophy of long-term investing in high quality companies that meet their QGLP investment criteria. They have followed this strategy consistently for over 2 decades, with limited style drift.
The QGLP Framework:
- Quality of the Business and Quality of the Management: Stable businesses preferable consumer facing, with huge business opportunity and sustainable competitive advantages. Businesses run by competent management.
- Growth in Earnings: Driven by volume growth, price growth, mix change, operating and financial leverage.
- Longevity (of Quality and Growth): Dictated by long-term relevance of the business, extending competitive advantage period and sustenance of growth momentum.
- Price: Reasonable valuation, relative to quality and growth prospects with high margin of safety.
Once they have identified stocks that meet their strict QGLP criteria, Motilal aims to Sit Tight (by following a long-term buy-and-hold approach in concentrated stock portfolios.)
Value Migration Overview
- Inter-country Migration: The Indian IT and Pharma
- Inter-industry migration in same country: From Railways to Airlines
- Inter-company migration in same industry: From Public sector to private sector in Indian Banks and Telecom spaces
- One segment to another in the same company: Telecom has seen value migrating from Voice to Data
Trailing Performance
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| Motilal AMC Value Migration | 10.1 | 19.7 | 25 | 19.5 |
| S&P BSE 500 | 4.8 | 12.3 | 24.8 | 17.9 |
| Alpha over Broad Mkt BM | 5.3 | 7.4 | 0.2 | 1.6 |
| Nifty 50 TRI | 6.7 | 11.8 | 23.7 | |
| Alpha over Category BM | 3.4 | 7.9 | 1.3 |
Performance as of: 31-Mar-25 | Inception Date: 18-Feb-03
Fund Managers
Abhishek Anand | 3-star rated FM
Fund Manager | 21 yrs Experience | 1 yrs at current firm
Past Experience: Centrum Wealth Management, Centrum Broking, SBI Capital Markets, Dun & Bradstreet, CMIE
Abhishek Anand has 20+ years of experience with 8 years in institutional equity research covering sectors such as Telecom, Media, IT & Consumer. He has won the Starmine Top Analyst Award for 2011-12 and 2012-13 by Thomson Reuters. His previous assignments were with the institutional research division of SBI Capital Markets, Dun & Bradstreet, and CMIE.
Prateek Agrawal | 5-star rated FM
Executive Director | 31 yrs Experience | 3 yrs at current firm
Past Experience: BoI AXA MF (Head of Equity), BNP Paribas MF (Head of Equity), SBI Capital Markets (Head of Research)
Prateek is the CEO of Motilal Oswal AMC. He has over 3 decades of experience in fund management and research, having worked in senior positions in BoI AXA MF, BNP Paribas MF, SBI Capital Markets and ASK. In his last stint at ASK, he was spearheaded the growth of ASK PMS over this period.
Vaibhav Agarwal | 3-star rated FM
Fund Manager | 14 yrs Experience | 3 yrs at current firm
Past Experience: Analyst bank loan Ratings(Crisil)
Vaibhav Agrwal is the founder of Teji Mandi, which is a platform aimed at helping retail investors in india navigate the volatility of the markets through affordable and quality advisory. He has managed a proprietary pms and has over a decade experience in stock picking and generating index-beating returns.
Fee Structure
| Fee Structure | Fee |
|---|---|
| Fixed Fee Structure | 2.5 |
| Variable Fee Structures | 1.5% fixed + 15% above 10% hurdle |
| Exit Fees | 1yr(2%) |
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