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Student Managed Fund
The operating and risk rules behind every portfolio decision - so each one is auditable against a written standard rather than discretionary.
Objective
Long term capital appreciation through fundamentally strong Indian businesses at attractive valuations, with a 3–5 year investment horizon.
Benchmark
Nifty 500 TRI
Performance is evaluated using absolute return, relative return, volatility, maximum drawdown and portfolio attribution.
Universe
Equity and equity-related securities of companies listed in India, primarily on NSE and BSE, across large cap, mid cap and small cap segments.
Mandate Boundaries
India only. Leverage is not permitted. Derivatives do not form part of the core investment strategy.
A high-quality business is not considered investable solely because of its fundamentals; the market price must provide an attractive risk adjusted return.
Company evaluation covers business quality, financial strength, competitive advantage, management and governance, growth potential, valuation and risk.
Appropriate valuation methods may include DCF, P/E, EV/EBITDA, P/B, Residual Income and Sum of the Parts. Major investment decisions incorporate Bear, Base and Bull cases.
Current portfolio exposures are checked against the charter's internal guidelines.
Largest initial position
8% guideline
Maximum initial position: 8%
Applied when capital is first allocated to a security.
Within charterLargest individual position
0.00%
Maximum individual position: 10%
No active holdings yet
Within charterLargest sector exposure
0.00%
Maximum sector exposure: 30%
No active holdings yet
Within charterCash allocation
100.00%
Permitted range: 0–5%
Cash is determined by portfolio construction and available opportunities.
Over limitActive holdings
0
Target portfolio size: 15–25 securities
Position sizes reflect conviction, valuation, downside risk, liquidity and portfolio-level exposure.
Within charterEach investment must document its key risks and thesis-break conditions. Capital is allocated with the objective of limiting permanent loss of capital.
Monthly
Performance and portfolio review
Quarterly
Fundamental and valuation review
Annually
Comprehensive investment thesis and portfolio review
Positions may be increased, reduced or exited when the investment thesis, valuation, risk profile or portfolio considerations materially change.
Performance evaluation considers both investment outcomes and the quality of the underlying investment process.
NEEV
Research. Value. Invest.