ASK Golden Decade Fund – Series II - Best AIF Funds | Best PMS Funds

Invest Now

Choose Your Interest -

By submitting the form you authorize AIF & PMS Experts India to call or email you.

About Fund Manager

Mr. Kuldeep Gangwar – Portfolio Manager

Has over 17 years of experience which includes more than a decade in sell side equity research with his main domain expertise is in Consumer sector (FMCG & Retail).
Prior to joining ASK, he was associated with HSBC Securities and Capital Markets (India) Private Limited as a sell side research analyst. He has also worked with Tata Motors for 3 years.
Mr. Gangwar is an MBA (Finance) from IIT, Bombay and B. Tech (Electronics & Communication) from IIT Roorkee. He is a CFA Charter holder. He joined ASK in Jan 2018

Key Investment Objectives and Attributes

Key Investment Objectives

Capital Preservation over a period of time
Capital Appreciation over a period of time

Achieved through

Long term Investments in high quality companies with strong growth prospects

Why invest in ASK Golden Decade Fund – Series II?

A pure bottom up, buy & hold multi cap strategy of around 25 high quality companies
A fitting confluence of Quality, Valuation, and Time: 3 main drivers for compounding wealth
Positioned to capitalize on the impending value migration opportunities in India
Key beneficiaries of the economic shift in India: Financials, Consumer Durables, Manufacturing, Chemicals etc

Portfolio Research Methodology and Filtration

Top 500 as per market capitalization
Subjective evaluation on management quality, their integrity, vision, past track record, execution, capital allocations and distribution skills, corporate governance standards etc.
Businesses benefiting from value migration (e.g. ownership migration: PSU banks loosing market share to private sector banks, shift from unorganised to organised, etc)
Businesses with RoCE over 25% and Earnings Growth above 20%
Selection based on psychographics optimization and valuations

Inspiration for ASK Golden Decade Fund – Series II

Opportunity today is not only large, but it is structural. It is not episodic and is expected to sustain for a longer period of time
The structural character anticipated to the growth of the economy has a deep impact on the valuations in the markets.
In a digital world, the value creation of firms whose cost of capital can be moderated will be enhanced as compared to the past
Government is facilitating ease of doing business and vacating the turf for the private enterprises to create value
Power of digital, reduction in cost of capital, startup ecosystem, data & payment revolution, manufacturing & infrastructure related changes will fuel the coming Golden Decade

Value migration occurs when there is a disconnect between customer priorities & existing business designs

Inter country migration
Inter industry migration in same country
Inter company migration in same industry
One segment to another in same company

Value Shift to Better Run Private Sector Insurers

Private Players have been gaining on LIC every Year
In terms of sum-assured as a % of GDP, India ranks one of the lowest in the world.
The protection gap, or the level of under-insurance, for India is estimated at 83%, one of the highest in the world, against 70%-76% for ASEAN peers and 55%-60% for South Korea-Japan.

Private Banks will Capture Lion’s Share of Consumption Induced Credit Offtake

India’s Household Debt to GDP is lower compared to US which will go up as discretionary consumption goes up. This provides a long runway of growth for lenders
Number of Credit Cards issued has more than quadrupled to 7.8 Cr in last 10 years
~68% of these are issued by Private Sector Banks

Significant Outperformance of Bankex vs Nifty over long period

Banking Sector outperforms the broader market during periods of high GDP growth adding to long term outperformance
Infrastructure Capex by the government combined with private sector capex and consumption led credit growth acts as tailwinds to the sector

India : On the Cusp of Digital Revolution

For a population of 1.3 billion, India’s wireless subscriber base is at 1.2 billion and broadband subscriber base at 0.8 billion.
Entrepreneurs are creating digital businesses across domains – from fintech to food tech to edutech – which has resulted in 42 unicorns in 2021 alone. This trend is expected to continue
Today one out of 13 unicorns globally is born in India. One unicorn has been added every five days within the first two months of 2022, and India is expected to have 100+ new unicorns in 2022.

Digital India: Exponential Growth in Digital Payments in India

Demonetisation triggered increasing Financialisation of the economy by accelerating Digital modes of payment
In FY15-21, total value of Digital Payments increased by 5x, while number of Transactions increased over 10x
Since 2012, Number of Debit Cards in the country has expanded by ~30 Cr to over 90 Cr currently

Manufacturing to Significantly Ramp Up

For a length of time, manufacturing in India took a back seat. That is set to change in the coming years
Make in India & PLI Schemes have full potential to change the manufacturing landscape dramatically
Manufacturing prowess, in today’s world, is also important for strategic considerations from the safety and strength in security of the country

India : Next Factory of the World

PLI Scheme affects the entire value chain & the benefit which comes out of that is not arithmetic but geometric

New Processes

Ease of Doing Business
GST
Corporate Tax Reduction

New Sectors

Major FDI reforms and inflows

New Approach

Make in India
Digital India
Skill India

New Infrastructure

Key Infrastructure and Urbanization
Dedicated Industrial Corridors

New Innovation and R&D

India – Design & Innovation
Start Up India
Intellectual Property Rights

New Mind-set

From red tape to red carpet

Expected Key Beneficiaries of Value Migration

New Business Models Emerge on the Back of a Shift in Economic Landscape

This image belongs to 01939bd7-d963-7914-b50c-742b97653bb9.skipns.com

Invest now

Fund Overview

Uncover Your Investment Potential with Process-Driven Insights

Our platform is designed to match you with the right AIF and PMS products based on a comprehensive understanding of your risk tolerance, investment horizon, and financial goals. By completing our risk profiler, you'll enable us to recommend investment strategies that align with your objectives. Start your journey towards informed investment decisions and explore the strategies best suited to your financial aspirations.e got you covered.

TAKE THE RISK PROFILER NOW

Fund Name:	ASK Golden Decade Fund – Series II
Structure:	Close ended, Long-only Category III, Alternative Investment Fund
Term:	4.5 years (from date of Final Closing), may be extended up to 2 years with necessary approvals
Sponsor:	ASK Investment Managers Limited
Investment Manager:	ASK Investment Managers Limited
Trustee:	Amicorp Trustees (India) Private Limited
Custody:	Deutsche Bank A.G.
Registrar and Transfer Agent:	KFin Technologies Limited
Minimum Commitment Amount:	Rs 1 Cr and multiples of Rs 1 Lakh thereafter Final Closing Within 12 months from the date of First Closing Lock-in Period Nil
Exit Charge:	5% in Year 1, 4% in Year 2, 3% in Year 3; 1% in Year 4; Nil post Year 4, all from Final Closing.

ASK Golden Decade Fund – Series II

About Company