Trivantage Resurgent Financials

Scheme Rating

IME Scheme Rating

3 of 5 stars

Relevant for investors focused on this specific theme: Amongst BFSI sector funds, Trivantage Resurgent Financials fund has a higher weightage for turnaround stories. This has a higher risk reward than other more quality-oriented strategies and is accordingly good for investors seeking to take contra bets on financials. While the Financial Opportunities thematic strategy has its merits, we are cautious about recommending thematic/sectoral strategy given that they can have prolonged periods of underperformance. We believe flexi-cap is suitable for most investors. However, with understanding of risks associated with thematic strategy, one can look at such funds.

IME Strategy Rating

4 of 5 stars

Concentrated Sectoral Strategy: Trivantage Capital Resurgent Financials Equity Strategy is a concentrated multi-cap financial services sector fund that aims to hold between 15-18 stocks in the financial services industry. It is focused on investing in a diversified basket of multi-cap financial services stocks, with a focus on companies that are in a turnaround phase

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 Trivantage Resurgent Financials

Type: BFSI | Sectoral | AUM (55.3 cr) | Inc Date (17 Feb 2016)

Investment Philosophy

Trivantage Capital Resurgent Financials Equity Strategy is a diversified multi-cap financial services sector fund that aims to hold between 15-18 stocks in the financial services industry.

The investment philosophy is to evaluate financial services stocks by combining their understanding of Macros and analysis of their credit profiles with Valuations. The founder & CIO Nikhil Johri has a strong expertise in Financial sector and aim to outperform the marketby following the ‘circle of competence’.

This is driven by –

  • Strong Alignment of Interest: Ensuring interests align with investor by co-investing in funds by the founder. 
  • Courage of Conviction: They do not hestitate to take contrarian positions. 
  • Financial Sector Trinity: Evaluating financial services businesses by understanding macros and combining their analysis of credit profiles with Valuations in mind. 
  • Skill & Diligence: Believe in skill & diligence that has the ability to generate superior returns. 
  • Ethical & Transparent: Trivantage Capital have high level of integrity & transparency while also maintaining  high standards of the businesses selected in order to reciprocate trust placed by investors.

Stock Selection

Filtering stocks based on Qualitative & Quantitative Screens. 

Qualitative Filtering Screens

  • Selecting businesses with CEO’s who have track record & able to lead during different cycles. 
  • ESOP grant policy and skin in the game
  • Role of the Board and independent Directors.
  • Quality and involvement of promoter.
  • Sustainability of business Model & Moats.

Quantitative Filtering Screens

  • Capital Position 
  • Free Float Market Capitalization
  • Liquidity 
  • Volatility
  • Granular deposit franchise 
  • Return Ratios

Out of 100 listed stocks in BFSI – Trivantage actively cover 40 stocks and construct a portfolio of 15-18 stocks after actively covering the stocks. 


Trailing Performance

1yr 3yr 5yr Since Inception
Trivantage Resurgent Financials 24.7 9.9 11.2 13.1
S&P BSE 500 TRI 39.5 19.5 19 16.7
Alpha over Broad Mkt BM -14.8 -9.6 -7.8 -3.6

Performance as of: 28-Feb-23 | Inception Date: 17-Feb-16

Fund Managers

Nikhil Johri | 5-star rated FM

Founder & CIO | 36 yrs Experience | 9 yrs at current firm

Past Experience: CEO India (BNP Paribas Investments, Fortis Investments, ABN Amro AMC)

Nikhil is a veteran of the Indian financial markets, having been the CEO at several leading investment firms including BNP, Fortis & ABN Amro. He started Trivantage PMS in 2014, in order to use his considerable knowledge of the financial system to build financials focussed investment portfolios.

Fee Structure

Fee StructureFee
Fixed Fee Structure2.5
Variable Fee Structures1.50% fixed and 20% over 10% hurdle
Exit Fees1yr (3%), 2yr (1%)


AMC: Trivantage PMS (click link for detailed AMC review)

Can be considered for investment: We are great believers in investment managers having a laser focus on their areas of expertise, as compared to trying to do too many things at the same time. Trivantage PMS is a PMS provider that is laser-focused on a single sector (financials), with investments managed by a financial sector veteran, which makes it one of the most attractive BFSI sector funds in the market.

AMC Rating

3 of 5 stars

AMC Pedigree

3 of 5 stars

AMC Size

2 of 5 stars

Team Pedigree

5 of 5 stars

Inv Philosophy

5 of 5 stars


2 of 5 stars

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