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Ksema PMS

Scheme Rating

IME Scheme Rating

The Scheme does not meet our selection criteria at this time

Sectoral Leaders Focused Approach: The fund seeks long-term capital appreciation by investing substantially in the equity securities of companies that are leaders in their industries/segment of industries, and which the managers believe are suitable for a buy-and-hold strategy.

IME Strategy Rating

Not a Recommended AMC: The 1-star rating of the AMC is primarily driven by the AMC still being sub-scale. Since the firm is still sub-scale, we have not done additional evaluations with regards the AMC Pedigree, Investment Philosophy, Team & Performance.

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 Ksema PMS

Type: Flexible LS | Absolute Return LS | AUM ( cr) | Inc Date (5.4)

Investment Overview

Objective

  • Low-risk equity strategy: by combining equity with fixed income & hedges
  • Low market dependence: the strategy aims to have a low net equity exposure. While this has not been defined, it has historically maintained a net equity exposure of ~25% 
  • Lower volatility: aims to generate long-term capital appreciation with low volatility

Portfolio Construction

Tata Equity Plus Absolute Returns fund is a dual portfolio strategy, comprising a Core portfolio (equity and fixed income for exposure to structural uptrend) with a Derivatives portfolio (L/S trading alpha for downside protection)

CORE PORTFOLIO

  • Cash equities + cash equivalent/fixed income
  • Equity: Multi-cap allocation with higher exposure to large-caps
  • Cash allocation: flexible, allocation varies depending on opportunities and market risk
  • Fixed Income Preference: GOI bonds, PSU tax-free bonds and liquid MFs

DERIVATIVES PORTFOLIO

  • Long/short trades in futures & options
  • Generate regular income and protect from market downside. Net short position during market correction.
  • Tactical allocation to capture short term opportunities

RISK MANAGEMENT

  • Gross Exposure: upto 200%
  • Naked Exposure: can take unhedged long and short positions

Trailing Performance

2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Ksema Alpha-Opportunities 33.44
S&P BSE 500 TRI 26.6
Alpha (over Broad Mkt BM) 6.8
Nifty 500 25.8
Alpha (over Category BM) 7.6

Fund Managers

Ksema Alpha-Opportunities

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.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.Sectoral Leaders Focused Approach: The fund seeks long-term capital appreciation by investing substantially in the equity securities of companies that are leaders in their industries/segment of industries, and which the managers believe are suitable for a buy-and-hold strategy.Sectoral Leaders Focused Approach: The fund seeks long-term capital appreciation by investing substantially in the equity securities of companies that are leaders in their industries/segment of industries, and which the managers believe are suitable for a buy-and-hold strategy.Not a Recommended AMC: The 1-star rating of the AMC is primarily driven by the AMC still being sub-scale. Since the firm is still sub-scale, we have not done additional evaluations with regards the AMC Pedigree, Investment Philosophy, Team & Performance.Not a Recommended AMC: The 1-star rating of the AMC is primarily driven by the AMC still being sub-scale. Since the firm is still sub-scale, we have not done additional evaluations with regards the AMC Pedigree, Investment Philosophy, Team & Performance.Mature Fund: With a 5 year+ track record, the fund has matured and investors should have an ability to guage performance of the fund across market condititions.Mature Fund: With a 5 year+ track record, the fund has matured and investors should have an ability to guage performance of the fund across market condititions.Above Average Performance: The fund is amongst the top 20-40% funds, in terms of performance on a 5 years basis in it's fund categoryAbove Average Performance: The fund is amongst the top 20-40% funds, in terms of performance on a 5 years basis in it's fund category

AMC

AMC: (click link for detailed AMC review)