Scheme Rating
IME Scheme Rating
Too early but decent option in small and mid-cap space for investor’s discretion: Roha emerging is a sound strategy with a fund manager with over 2 decades of experience. This could be a good option for investors looking specifically for Dhiraj to manage their corpus. However, 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).
IME Strategy Rating
Small & Mid-cap Strategy: Clear small and midcap focus with very strong themes and risk management.
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 Roha Emerging Champions
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.
- 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 | 44.8 | 26.7 | 44.4 | |
S&P BSE 500 TRI | 41.1 | 18.4 | 28.3 | |
Alpha over Broad Mkt BM | 3.7 | 8.3 | 16.1 | |
Nifty Midcap 150 | 47.4 | 25.2 | ||
Alpha over Category BM | -2.6 | 1.5 |
Performance as of: 30-Sep-24 | Inception Date: 29-Jul-20
Fund Managers
Dhiraj Sachdev | 4-star rated FM
Managing Partner & CIO | 26 yrs Experience | 7 yrs at current firm
Past Experience: VP & Senior Fund Manager (HSBC Asset Management), Fund Manager (ASK Raymond James)
Dhiraj Sachdev comes with over 2 decades of experience. Formerly, a Senior Fund Manager at HSBC Global Asset Management. Prior equity fund management experience includes ASK Investments and HDFC Bank. Qualified Chartered Accountant (CA) from ICAI and a Cost & Management Accountant (CMA) from ICMAI Institute along-with a Diploma in Foreign Trade Management (DFTM) from Mumbai University.
Fee Structure
Fee Structure | Fee |
---|---|
Fixed Fee Structure | 2.3 |
Variable Fee Structures | 1.5% fixed + 15% over 10% |
Exit Fees | 1yr(1%) |
AMC
AMC: Roha Asset PMS (click link for detailed AMC review)
Not a top recommendation as it is still a young AMC at this time : Roha is still a young PMS firm (started in 2020) that is yet to prove its investment management credentials. The group that controls Roha AMC is involved in other business verticals, beyond other financial services such as real estate, solar & wind energy, and healthcare (which makes it a bit unclear in terms of the focus on its AMC business). While these are concerns, Roha has a sound strategy and has a pedigreed fund manager, Dhiraj Sachdev, with over 2 decades of experience. The AMC is still nascent and we would recommend waiting for it to mature.
AMC Rating
AMC Pedigree
AMC Size
Team Pedigree
Inv Philosophy
Performance
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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.