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Quest Multi

AUM (1157 cr) | Inc Date (3-Aug-2014)

Scheme Rating

IME Scheme Rating

3 of 5 stars

The stratgey can be considered for investment on the back of the strong pedigree of the AMC & investment team, even as performance in recent times has been average.

IME Strategy Rating

3 of 5 stars

Follows a flexible investment mandate (sector & market cap agnostic, no specific style focus), that provides the fund manager with a high degree of flexibility to build a portfolio based on the current market dynamics. The Multi portfolio has a small and mid-cap bias. The strategy has demonstrated resilience and maturity since its inception, navigating through various market phases and establishing a decent track record.

AMC Rating

3 of 5 stars

AMC: Quest PMS (click link for detailed AMC review)

Quest AMC, founded by Ajay and Bharat Sheth, has added Aniruddha Sarkar to their team from IIFL. Despite past outperformance, recent performance is a concern. We would hold off on recommending the PMS for investments until performance improves.

PMS Scheme Ratings are driven by IME’s Proprietary Scheme Rating Methodology, which takes into account our ratings of the Scheme’s investment strategy, its maturity, the investment team, and our separate rating on the AMC that runs this particular scheme. Our views on each of these individual criteria are available via the IME RMS – which you can view by reaching out to one of our relationship managers (using either the live chat or book appointment feature on this site).

Quest Multi PMS- Investment Strategy

Quest Multi PMS follows growth-focused investment strategy, dynamically shifting allocations to capitalize on evolving market trends but with a bias towards mid & small cap. 

Core Investment Approach

Sector Rotation for Alpha Generation:

    • Actively shifts investments into sectors with strong tailwinds while exiting cyclical peaks.
    • Focus sectors: Urban Consumption, Industrials & Capex, Financials, and New-Age Digital Businesses.

Blend of Growth and Value Investing:

      • Growth Stocks: Companies with consistent earnings expansion and long-term scalability.
      • P/E Re-Rating Stocks: Businesses trading below historical valuation multiples with potential for a re-rating.
      • Value Stocks: Undervalued companies with strong fundamentals and mispriced growth potential.

Multi-Cap Allocation Strategy:

    • Balanced exposure across market caps:
      • Large Caps (~40%) for stability.
      • Mid Caps (~20%) for steady growth.
      • Small Caps (~40%) for high-growth potential.

High Conviction, Concentrated Portfolio:

    • Maintains 25-30 carefully selected stocks with an emphasis on market leaders and emerging disruptors.
    • Regular rebalancing to capture new trends and avoid overheated sectors.

Trailing Performance

1yr 3yr 5yr Since Inception
Quest Multi 1.6 16.8 26.8 15.9
S&P BSE 500 4.5 13.7 22.2 14
Alpha over Broad Mkt BM -2.9 3.1 4.6 1.9

Performance as of: 30-Apr-25 | Inception Date: 03-Aug-14

Fund Managers

Bharat Sheth | 5-star rated FM

Head Equities | 45 yrs Experience | 31 yrs at current firm

Bharat Sheth is a highly seasoned & respected investment professional, having spearheaded the growth of Quest’s advisory & PMS business over the past 25 years. Being part of the core founding team, he has provided the much-needed stability and thought leadership that has helped Quest grow into one of the larger PMS providers in India.

Aniruddha Sarkar | 3-star rated FM

CIO | 17 yrs Experience | 5 yrs at current firm

Past Experience: IIFL AMC (FM)

Aniruddha joined Quest in Feb-2020, after a successful stint of over 10 years at IIFL across various roles including Fund Manager for the MF & PMS and as a research analyst.

Fee Structure

Fee Structure Fee
Fixed Fee Structure 2
Variable Fee Structures 1.5% fixed + 12% above 8% hurdle
Exit Fees 1yr (1%)

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