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Abakkus All Cap Portfolio

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Welcome to AIF & PMS Experts India Pvt. Ltd.

About Company

Abakkus Asset Manager LLP is an alpha-focused asset manager based in India. Mr. Sunil Singhania founded it in 2018 and called it after the simplest ancient computing device, the abacus. The goal and aim of Abakkus are to become one of India’s most reputable and successful asset managers. This ideology has shaped the Abakkus portfolio’s beliefs: Keep things as straightforward as possible. Be a firm believer in the basics. Focus on the fundamentals and numbers.

Fund Snapshot

Year of Inception 29th Oct, 2020
Number of Stocks Around 25
Investment Horizon Medium to Long Term
Fund Managers Sunil Singhania and Aman Chowhan

Unique Feature

The Strategy focuses on an all-cap, diversified portfolio that is independent of benchmarks and supported by solid fundamentals. Fundamentals were selected via a bottom-up methodology. The foundation of our big size allocation approach The top-down sector approach is the foundation of the large-cap allocation method, which emphasizes stability. Exposure to larger market corporations with enduring operations and strong ROEs produces alpha. We acquire with an average holding time of 3-5 years in an effort to create alpha and wealth. Our “MEETS” Framework is adhered to by our diverse portfolio.

Experience

Backed by a highly-skilled, committed team of specialists with a combined experience of around 200 years 

Performance

A long history of success in public equity funds spanning two decades, through all market cycles

Commitment

Adopt a start-up culture with a high level of devotion, urgency, and enthusiasm.

Positioning

Focused Alpha investment goes beyond the enormous number of public businesses and is backed by independent, internal research and opinions.

Opportunistic

greater freedom when investing in new industries and topics that an economy driven by entrepreneurs support

Consistent

Throughout the market cycle, the investment team has consistently produced.

Abakkus All Cap Portfolio

Their strategy focuses on a benchmark-agnostic, diversified all-cap portfolio with solid fundamentals. Fundamentals are chosen from the ground up. Their large capital allocation strategy is founded on the strategy for large-cap allocation is based on a top-down sector view with a focal point on stability.
Alpha is generated by investing in broader market corporates with long-term prospects and high ROEs. Their distinct portfolio follows our “MEETS” Framework. Abakkus PMS try to aim to generate alpha and wealth creation by purchasing for a 3-5 year holding period.

Abakkus Asset Manager LLP is an Indian asset manager that focuses on alpha. It was founded in 2018 by Mr Sunil Singhania and is named after the simplest ancient computing equipment, the abacus. Abakkus’ objective and vision is to become one of India’s most respected and successful asset managers.

Investment Philosophy

Alpha Generators:

  • Believe in investing to generate alpha over the markets rather than simply allocating to benchmark indexes.
  • Companies with a scalable business model and the potential to grow to become large-cap. Companies whose profits are expected to grow faster than the market average.
  • To trigger fundamentally undervalued stocks with decent growth expectations.

Fundamentals Driven:

  • Bottom-up research with an emphasis on the balance sheet.
  • Earnings ultimately determine returns. Numbers speak louder than speeches and hype.

Happy to be contrarian:

  • Prefer to be the first, early, and/or only investor.
  • Do not follow the momentum.
  • Open to considering companies from various industries, market capitalizations, and business cycles.

Investment Objective

The investment objective of the Abakkus All Cap Approach would be to generate alpha and risk-adjusted returns for clients by investing in a benchmark agnostic multi-cap portfolio.

Framework

Management Timing Structural

Quality – Capability and track record

Capital Allocation –Capital Expenditure is fine if ROE is maintained or enhanced

Capital Distribution –fair to minority shareholders

Error in decision –Business errors vs intentional mishaps

Earnings

  • Quality of earnings vs reported numbers
  • Actual earnings vs expected
  • Cyclical vs Structural earnings
  • Companies that can double profits in 4
  • years or less or where EV/EBITDA can have in four years

Events/Trends

  • Stock movement because of events.
  • Can be Buy or Sell opportunity Events on the horizon
  • Disruptive trends/New themes

Timing – Good Company is not necessarily a good investment if the price is not right

What is the price discounting time frame of investment Mean Reversion

Structural

  • Size of the opportunity
  • Competitive
  • positioning / MOAT
  • Consistent growth in profits

Fees Structure:

FEE STRUCTURE Fee Type* Fixed Management Fees Performance Fees Fixed Option 2.50% p.a. Nil Fixed or Variable Option 1.75% p.a. 15% sharing over 9% hurdle rate (Annual with high watermark)

About Fund Managers

Mr. Sunil Singhania:Founder of Abakkus Asset Management, LLP

Sunil Singhania - AIf pms Expert Abakkus

Mr Sunil Singhania holds a bachelor’s degree in business from Bombay University and a Chartered Accountancy degree from the Institute of Chartered Accountants of India (ICAI), Delhi, with an all-India rank. He has also obtained the privilege to utilise the CFA Institute’s Chartered Financial Analyst credential. Sunil has over 25 years of experience as a CFA. He is the founder of Abakkus Asset Management, LLP, an asset management firm focusing on India that he founded in 2018. He was previously a Global Head of Equities at Reliance Capital Ltd. Singhania has guided Reliance Mutual Fund’s (now Nippon India Mutual Fund) equities schemes to be recognised among the top as CIO – Equities. Under Singhania’s direction, the Reliance Growth Fund (now Nippon India Growth Fund) increased by more than 100 times in less than 22 years. He is also the first person from India to be elected to the CFA Institute Board of Governors, where he now chairs the Investment Committee and serves on the Nominating Committee.

Aman Chowhan :Aman Chowhan – Abakkus Asset Manager LLP

Aman Chowhan Abakkus

Aman Chowhan is an MBA graduate of Mumbai University. Aman has over 17 years of experience in the Indian equity market.  Prior to joining Abakkus, he worked for Reliance Asset Management’s (now Nippon Life India Asset Management) PMS branch as the Portfolio Manager for all local and offshore schemes. Aman brings a regional and global perspective to investing, having worked in Reliance’s Singapore office.  He has a great track record in benchmark, absolute long and long-short strategies. He worked as a research analyst for TAIB Securities, Tata TD Waterhouse, and other brokerage firms before joining Reliance in 2005. 

Mr. Deven Sangoi – Senior Fund Manager – Abakkus Asset Manager LLP 

Deven Sangoi is Senior Fund Manager at Abakkus. He has experience of 22 years on the asset management side, out of which 10 years in mutual funds space and 12 years in the insurance industry. His previous assignment was Chief Investment Officer (CIO) of Canara HSBC OBC life, managing both Equity and Fixed Income with a corpus of around USD 4 bn (INR 25,000 Cr). Previously he worked with many reputed organizations in financial service space which include names such as Aditya Birla Sun Life Insurance Ltd, Aditya Birla Sun Life Asset Management Co. Ltd, ICICI Prudential Asset Management Co. Ltd & Canara HSBC OBC Life Insurance. He is graduated in Electronics Engineering from Mumbai University and holds a post-graduate degree in Finance from Newport University.

FAQs

What is Abakkus All Cap Portfolio PMS capital contribution?

Abakkus All Cap Portfolio PMS capital contribution is above 50 Lakhs in Indian rupees.

What is Abakkus All Cap Portfolio’s investment horizon?

Abakkus All Cap Portfolio invests in medium and long-term investment horizons

What is Abakkus All Cap Portfolio’s investment objective?

Abakkus All Cap Portfolio’s investment objective is to create alpha and risk-generated returns for investors by buying the stocks of growth firms, price firms, and buy-and-hold firms and invest in benchmark portfolios across market segments.

Which are the top 10 companies Abakkus All Cap Portfolio has holdings in?

The top 10 companies Abakkus All Cap Portfolio has holdings are:

DCM Shriram Limited, Mastek Limited, Jindal Stainless Hisar Limited, Polycab India Limited, Max Financial Services Limited, ICICI Bank Limited, BSE Limited, State Bank of India Limited, UPL Limited, and HCL Technologies.

Does Abakkus only invest in large companies?

Abakkus invests in companies of three kinds: growth firms, value firms, and buy-and-hold firms.

Growth firms- Companies that are expected to grow and give higher profitability compared to the average market.

Value firms- Companies that are underpriced and expected to grow.

A buy-and-hold firm – Companies where the investment is held like a partner in the firm.

However, Abakkus doesn’t only invest in large companies. They invest in companies that hold the potential of becoming large-cap in the future. They also invest in small companies which have a business model which holds potential and is scalable.

What is Abakkus All Cap Portfolio’s investment philosophy?

Abakkus All Cap Portfolio’s investment philosophy is to present risk-adjustment returns and create alpha via investing across various and different market capitalizations. The large-cap capitalization allocation is based on stability via a ‘top-down’ sectoral view. Abakkus All Cap Portfolio invests in three types of firms: growth, price, and buy-and-hold. The fund managers at Abakkus All Cap Portfolio stand by the bottom-up approach for the selection of stocks. They like to be contrarian and support with a focus on chasing earnings instead of chasing momentum.

What are the characteristics of the Abakkus All Cap Portfolio PMS?

There are various characteristics of Abakkus All Cap Portfolio PMS, which are:

  • Benchmark skeptics varied All cap portfolios.
  • Ideas and concepts are based on fundamentals picked by a bottom-up approach.
  • Large-cap allocation is supported by a top-down sector view, with stability being the focal point.

What is Abakkus All Cap Portfolio PMS capital contribution?

Abakkus All Cap Portfolio PMS capital contribution is above 50 Lakhs in Indian rupees.

Product - AMC Category AUM (in Cr.) Performance 1M 3M 6M 1Y 2Y 3Y 5Y 10Y SI

Abakkus Emerging Opportunities Approach

AMC Name: Abakkus Inc Date: Aug-20
small cap
(PMS)
1000 Strategy 2.1 4 -0.7 -1.6 41.7 NA NA NA 39.6
BSE SmallCap 250 6.2 8.5 6.1 5.7 38.4 NA NA NA 35.4

Abakkus All Cap Approach

AMC Name: Abakkus Inc Date: October 29, 2020
multi cap
(PMS)
1000 Strategy 2 2.4 -0.3 -0.4 NA NA NA NA 35.7
NIFTY50 3.5 7.1 5.7 3.7 NA NA NA NA 25.3

Abakkus Growth Fund - 1

AMC Name: Abakkus Inc Date: Jul-18
long only
(AIF)
450 Strategy 1.4 0.5 -5.9 -7.7 35.6 26.2 NA NA 19.1
S&P BSE 200 4.5 8.7 7.6 5.6 27.4 19.2 NA NA 12.9

Abakkus Emerging Opportunities Fund 

AMC Name: Abakkus Inc Date: Nov-21
long only
(AIF)
500 Strategy 1.6 2.6 -1.3 -2.3 48.1 39.6 NA NA 36.4
S&P BSE 500 4.6 8.6 7.5 5.4 28.1 19.7 NA NA 15.3

Abakkus Growth Fund - 2

AMC Name: Abakkus Inc Date: Jul-18
long only
(AIF)
450 Strategy 0.7 4.5 3.6 NA NA NA NA NA 7.3
S&P BSE 200 4.5 8.7 7.6 NA NA NA NA NA 0.2

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Disclaimer: Investing Involves Risk. This document is for information purposes only and should not be viewed as a legal offering document or solicitation. Offers to invest in this fund are made only by the Discretionary Portfolio Management Services Agreement. Past performance does not guarantee future results and there is no assurance that the managed accounts will necessarily achieve their objectives. We do not guarantee any returns in the hand of investors not we take any sort of accountability for the performance of the scheme. The above-mentioned data is collected from the respected Fund house please verify the same at SEBI website.