Roha Emerging Champions
Roha Asset PMS | Equity | | PMSIME's View on Roha Emerging Champions
Strategy
Investment Fund
Roha emerging is a sound strategy with a clear focus on small and mid-cap. Relative to other small and mid-cap funds with a longer-term track record, Roha Emerging does not yet have a longer-term track (especially with relation to how the strategy performs in weak market conditions). The AMC has witnessed recent churn in its investment team, Dhiraj Sachdev (FM) has left the firm. Investment team churn remains a key risk for the AMC.
Fund's Strategy View
Clear small and midcap focus with very strong themes and risk management. Sectoral focus spans rural transformation, ancillary beneficiaries of energy and manufacturing shifts, and urban consumption, forming the backbone of the Roha RAM strategy.
Fund Performance
The fund has outperformed peers & is amongst the top performing schemes in this category in the last 5 year trailing returns.
IME's View on Roha Asset PMS
View on AMC
Roha is a relatively new PMS firm established in 2020 with developing investment management credentials. The group controlling Roha AMC is engaged in various businesses beyond financial services, raising concerns about focus. The AMC has witnessed recent churn in its investment team, Dhiraj Sachdev (FM) has left the firm. Investment team churn remains a key risk for the AMC and leads to a lower AMC rating.
AMC's Pedigree
Roha group is new to the industry and their investment reputation is still developing.
AMC Team
Recently, Dhiraj Sachdev, Managing Partner & CIO, has left the firm. He was replaced by Rajdeep Singh and Daljeet Singh Kohli, who comes with relatively lower fund management experience. Rajdeep spent 14+ years at ASK Investment Managers in equity research across sectors and managing PMS and multi-cap advisory strategies. Meanwhile, Dalijeet has experience in Research & Strategy with a couple of years as FM and CIO.
Investment Philosophy
Philosophy is rooted in identifying emerging champions early, Roha blends primary research, forensic diligence, and valuation discipline into a focused mid- and small-cap portfolio.
Emerging Companies Strategy
RATIONALE
- Focus on select small and mid cap companies post-market correction to generate alpha or superior returns
- Emphasis will be stock specific based on management capability, business quality like size of opportunity, capital efficiency, scalability etc besides attractiveness of valuations.
- The aim is to get the real benefit of early mover advantage and power of compounding.
Investment Philosophy
Roha PMS aims to invest in ’emerging champion companies’ by aiming to invest in small or midcaps listed equities. This is to focus on investing in company’s that show the great character of business with sustainable growth potential, capital efficiency and cash flows so these companies can eventually become large companies tomorrow.
Roha Follow an exhaustive stock selection process in identifying potential large companys’ of tomorrow by focusing on:- Catch them Young-Early mover advantage
- Qualifying Qualitative, and Quantitative Parameters
- Extensive Research and Filtration process
Investing in 'emerging champion companies' by investing small & mid cap which have certain pros.
Investment process
- Generate Idea through filter to screen large universe of stocks that is based on stringent quality criteria like cash flows, growth, ROCE, profitability
- Conducting primary research by interacting with management, distributors, channel partners, peer/competitive checks and customers
- Forensic study of accounting, balance sheet and financial numbers to avoid fraudulent companies with poor corporate governance standards.
- Research report and final view based on team and investment committee debate & discussion, future business outlook, management capability and valuations
RISK MANAGEMENT
- Stock Concentration: 10%
- Sector Concentration: 25%
- Sell: when fair price, relative alternate opportunity, assumptions reverse.
Trailing Performance
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| Roha Emerging Champions | -9.5 | 23.4 | 31.6 | 31.5 |
| S&P BSE 500 | -6.6 | 14.7 | 19.2 | 20.7 |
| Alpha over Broad Mkt BM | -2.9 | 8.7 | 12.4 | 10.8 |
| Nifty Midcap 150 | -5.7 | 21.8 | 26.6 | |
| Alpha over Category BM | -3.8 | 1.6 | 5 |
Performance as of: 30-Sep-25 | Inception Date: 29-Jul-20 | Performance are post-fees, pre-taxes. Global funds denominated in USD or fund currency.
Investment team
Daljeet Singh Kohli | 3-star rated FM
Head Equity | 26 yrs Experience | 1 yrs at current firm
Past Experience: Vasuki India Fund, Stockaxis (CIO), Valentis PMS, Bonanza, IndiaNivesh Securities
Daljeet Singh, with over 25 years in Indian capital markets, holds an MBA from IMT Ghaziabad. Before joining Roha Asset Managers LLP as Head of Equity, he led Research & Strategy at Vasuki India Fund and managed a multi-cap PMS at Valentis Advisors. He has also held leadership roles at Stockaxis, India Nivesh Securities, and other reputed financial firms.
Rajdeep Singh | 3-star rated FM
Portfolio Manager | 16 yrs Experience
Rajdeep Singh, with over 15 years in Indian capital markets, is an engineer with a finance specialization from Mumbai University. He spent 14+ years at ASK Investment Managers in equity research across sectors and managing PMS and multi-cap advisory strategies. He now serves as Portfolio Manager at Roha Asset Managers LLP.
