facebook

Right Horizons Undervalued

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

Concentrated Small-cap Strategy: Concentrated holdings of between 12-16 small-cap stocks. The strategy focuses on business within the most underpenetrated categories (with the largest potential to come in-line with G7 levels). This is a low-churn, concentrated stock portfolio strategy.

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 Undervalued

Type: Mid & Smallcap | GARP | AUM (4.4 cr) | Inc Date (29 Sep 2015)

Right Horizon Minerva India Under-Served- Investment Strategy

Minerva India Under-Served is a small-cap strategy. 10-20 holdings. Attempts to screen companies that have the largest real business upside.

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

Trailing Performance

1yr 3yr 5yr Since Inception
Right Horizons Undervalued 62.1 26.9 16.4 8.5
S&P BSE 500 TRI 39.5 19.5 19 14.6
Alpha over Broad Mkt BM 22.6 7.4 -2.6 -6.1
Nifty Smallcap 250 67.7 29.7 25.2
Alpha over Category BM -5.6 -2.8 -8.8

Performance as of: 28-Feb-23 | Inception Date: 29-Sep-15

Fund Managers

Piyush Sharma | 3-star rated FM

Portfolio Manager | 20 yrs Experience | 13 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.

Prabhat Ranjan

Fee Structure

Fee StructureFee
Fixed Fee Structure2.5
Variable Fee Structures1% fixed + 15% above 10% hurdle
Exit Fees1yr(1.5%)

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.

Get substantially greater insights by connecting with us!

Details shared on the public website, are only a short snapshot of the more detailed analysis that resides in our Proprietary Research Management Solution (RMS) – A proprietary cloud-based tool, that ensures that the unbiased research insights of our central research team are shared directly with investors.

Our RMS allows us to operate with a level of transparency, ethics & consistency of insights, that is unparrarelled in the industry. Our RM’s will help showcase the PMS/AIF options that are the most suited for your unique requirements.

Download Sample RMS Reports: AMC View | Scheme Comparison

Note: PMS AMC & Scheme Reviews and Ratings are based on IME Capital’s Proprietary Review and Rating Methodology (read more here: AMC Rating & Scheme Ratings). These reflect the unbiased views of our central research team, based on our assessment of the investment value of these PMS/AIF strategies for our investors. We follow a highly stringent rating-criteria, where approximately 50% of PMS AMC’s & strategies would be rated 2-star or below (this is not meant to indicate that these funds are not investment-worthy, but that they do not currently fulfill the requirements we focus on for recommending funds to our investors — based on our internal views on the merit of the AMC/strategy relative to peers). Reviews & Ratings are primarily based on research of publicly available information (SEBI disclosures, PMS websites, PMS-aggregation platforms, webinar recording, media interviews etc.) and no explicit consent is required from AMCs for the same. While we endeavour to do further due-diligence via direct interactions with the investment teams of AMCs, this is typically restricted to AMC’s that meet our foundational fund selection criteria (reviews on lower-rated AMCs are often based solely on publicly available information). The views reflected in our Reviews & Ratings, are our independent views and may not be shared by the AMC’s and the investment teams. Please read detailed disclaimer for more.