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Right Horizons Flexicap

Scheme Rating

IME Scheme Rating

The Scheme does not meet our selection criteria at this time

Not a recommended fund: This is not a recommended fund, primarily because the AMC does not meet our selection criteria. We believe that there are better fund houses to invest in, within the Indian mutual fund universe.

IME Strategy Rating

Muti-Cap Strategy: Benchmark agnostic sectoral exposure in companies across market caps. Portfolio composition is unconstrained concerning the benchmark and can move across market caps as per RH’s proprietary asset allocation model. Typical Portfolio holding would not have more than 15-25 stocks.

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).

IME View on Right Horizons Flexicap

Type: Flexi Cap | GARP | AUM (356.3 cr) | Inc Date (29 Nov 2012)

Right Horizons Flexi Cap- Investment Strategy

Focus across markets caps and major asset classes

Flexi Cap is a multi-cap strategy. Flexi Cap scheme is blended, investing in Large, Medium and Small Cap. This is a dynamic portfolio which not only invests across market caps but also major asset classes like Gold according to medium term macro-economic outlook. Risk being Moderately high.  It follows a focused or diversified based on market conditions. Benchmark agnostic sectoral exposure in companies across market caps. Flexi Cap’s underlying benchmark being NSE 500. 

Investment Suitability 

Flexi Cap is ideal for investors looking for diversification in their portfolio. This is suitable for investors with moderate to high-risk appetite and looking for id-high teen returns. 

Investment Process

  • RH Screener: RH screen from a universe of 1300 companies based on ROE, ROCE, PAT Growth, Promoter holding, etc. 
  •  RH Scorecard: Their Stock Evaluation Framework is built based on the emphasis on Valuation and Return Ratios, Forensic Filters and Selected line items from Financial Statements. 
  • RH Risk Radar: Their Risk Evaluation Criteria looks at regulatory changes to be able to capture business risk, limit sector and stock level exposure and re-balance portfolio.
  • RH Pendulum: Stock re-balancing framework giving focus on both fundamental levels and opportunistic technical levels. 

Portfolio Construction

Core Portfolio: Capital Efficient high growth companies ~ 80% portfolio allocation 

Satellite Portfolio: Companies with turnaround stories/ Contrarian bets having higher margin of safety and greater risk-reward potential ~ 20% portfolio allocation

Trailing Performance

1yr 3yr 5yr Since Inception
Right Horizons Flexicap 34.4 20.7 22.2 13.2
S&P BSE 500 TRI 38.3 20 20 15.3
Alpha over Broad Mkt BM -3.9 0.7 2.2 -2.1
Nifty 500 37.3 18.7 18.5
Alpha over Category BM -2.9 2 3.7

Performance as of: 30-Jun-24 | Inception Date: 29-Nov-12

Fund Managers

Anil Rego | 3-star rated FM

Founder & CEO | 27 yrs Experience | 21 yrs at current firm

Past Experience: Manager – M&A and Business Planning (Wipro)

Anil Rego started his career with Wipro Technologies with roles in Business Planning and Mergers and Acquisitions. Later, in Oct 2003, he went on to start Right Horizons (with an initial focus on wealth management). Anil has also served as a member, Board of Governors, at IBSAF.

Piyush Sharma | 3-star rated FM

Portfolio Manager | 20 yrs Experience | 14 yrs at current firm

Past Experience: Co-Founder and Portfolio Manager (Metis Capital Management Ltd.), Principal (Contravest Associates), Senior Equity Analyst & VP (Longbow Research)

Prior to joining Right Horizon, Piyush Sharma’s experience was as an international investor investing in India through listed equity-focused offshore and onshore structures. The experience runs across several industries in the USA and India, including Business Services, Auto & Auto parts, Consumer Products, Specialty Retail, Consumer Finance, and Special Situations.

Fee Structure

Fee StructureFee
Fixed Fee Structure2.5
Variable Fee Structures1.25% fixed + 15% above 10% hurdle
Exit Fees1yr(2%), 2yr(1%)

AMC

AMC: Right Horizons PMS (click link for detailed AMC review)

Not a recommended AMC: While Right Horizons has matured and also developed a certain level of scale & performance, we would still wait a bit prior to recommending Right Horizons for investments - primarily on account of the high level of volatility in annual performance which we would like to first see stabilise.

Right Horizons PMS does not meet our criteria for PMS AMC Selection at this time. Understand our AMC rating criteria at AMC Rating Criteria or contact us via the LiveChat to learn more.