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Unifi Insider Shadow

Scheme Rating

IME Scheme Rating

3 of 5 stars

A call on the specific theme: We typically do not recommend Thematic funds to investors, since it requires getting in and out of the theme at the right time. Typically a strong contra approach (investing in themes when they are out of favour, and getting out when they are popular) leads to better performance, but this is very hard to actually implement in practice given strong behavioural instincts against such an approach (investors often end up entering themes post a run-up, which can often be the worst time to invest). In our view, thematic funds are primarily suitable for more astute investors who have a deep underlying understanding of the investment merits of the theme.

IME Strategy Rating

4 of 5 stars

Concentrated Thematic Approach: The strategy dynamically invests across market caps based on promoters’ actions, especially when they buy shares or increase holdings. By closely tracking insider trading, the approach leverages insider knowledge to inform investment decisions. The goal is to capitalize on company insiders’ insights and actions, aiming for enhanced portfolio 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 Unifi Insider Shadow

Type: Thematic | | AUM (449.2 cr) | Inc Date (31 May 2010)

Investment Philosophy

Unifi’s Insider Shadow strategy aims to invest in companies where the promoter has acquired additional shares that seem to be motivated either by an undervalued price or an impending improvement in business prospects. The rationale is that managers and controlling shareholders have a clear advantage over other market participants and are well-positioned to rake sensible investment decisions, especially in the case of small and under-tracked companies. Promoters typically use one or more of the following methods to increase their stake by: 

  1. Preferential issue of shares and/or warrants
  2. Merger of promoter owned private/public companies
  3. Creeping acquisition in open market
  4. Voluntary open offer
  5. Subscribing to unsubscribed public portion in rights issues
  6. Initiating the company to do a buyback either through market purchases or tender offer route

Trailing Performance

1yr 3yr 5yr Since Inception
Unifi Insider Shadow 21.4 13.1 27.2 16.1
S&P BSE 500 TRI 41.1 18.4 22.4 14.4
Alpha over Broad Mkt BM -19.7 -5.3 4.8 1.7

Performance as of: 30-Sep-24 | Inception Date: 31-May-10

Fund Managers

Baidik Sarkar | 4-star rated FM

Fund Manager | 18 yrs Experience | 17 yrs at current firm

Past Experience: Unifi (Corporate Finance), PWC (Strategy Consultant)

Baidik has been with Unifi for over a decade, with core responsibilities of research in the IT, real-estate and the agricultural sectors and assisting the CIO in managing the spin-off and APJ funds.

Sarath K Reddy | 5-star rated FM

CIO | 35 yrs Experience | 23 yrs at current firm

Past Experience: Navia Markets (MD), Stan C (Manager)

Having started his career with Standard Chartered Bank, Sarath founded Unifi Capital in 2001 and has since built the company into one of the leading PMS providers in India. As CIO, he works closely with his investment team to deliver outperformance on Unifi PMS strategies.

Fee Structure

Fee StructureFee
Fixed Fee Structure2
Variable Fee Structures1% fixed
Exit Fees

AMC

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

Highly recommended for aggressive investors seeking thematic strategies: A clearly differentiated thematic investment approach, helps Unifi occupy its own specific position in the market. Consistent delivery across multiple thematic strategies, with a stable home-grown investment team, has helped them scale into one of the largest PMS players in the market.

AMC Rating

5 of 5 stars

AMC Pedigree

5 of 5 stars

AMC Size

5 of 5 stars

Team Pedigree

5 of 5 stars

Inv Philosophy

5 of 5 stars

Performance

5 of 5 stars

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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.

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