Investment Objective
With an eqi-weighted twelve stock large-cap oriented PMS strategy, the objective of EMKAY’S 12 portfolio is to combine value and growth to deliver medium to long-term wealth. The portfolio mitigates ‘selection bias’ and ‘allocation bias’ by employing the “smart alpha” approach for ensuring robust risk management.
Investment Objective
With an eqi-weighted twelve stock large-cap oriented PMS strategy, the objective of EMKAY’S 12 portfolio is to combine value and growth to deliver medium to long-term wealth. The portfolio mitigates ‘selection bias’ and ‘allocation bias’ by employing the “smart alpha” approach for ensuring robust risk management.
Investment Framework
Investment Theme
Emkay’s 12 invests in top 12 companies (across sectors) that can benefit from macroeconomic factors like growth in personal disposable income, the surge in the middle class and a rise in gross annual income. The portfolio aims to make the most of themes like :
Value Migration
Industries, where value migration is underway and helps pick potential winners early in the cycle.
Domestic Consumption
Companies that have the potential to benefit from the growth in the GDP and the impact on consumption-driven sectors.
Domestic Infrastructure
Companies that are poised to benefit from the rise in demand for infrastructure in the country – both retail and institutional spending.
The fund manager employs a rigorous investment methodology to achieve an equi-weighted allocation along with diversification across industries and large-cap companies demonstrating high earnings growth.
*As on 30th June 2021
| TOP 5 HOLDINGS | |
|---|---|
| Divi’s Laboratories Ltd. | 10.1% |
| Ultratech Cement Ltd. | 9.6% |
| ICICI Bank Ltd. | 8.8% |
| Pidilite Industries Ltd. | 8.9% |
| Reliance Industries Ltd. | 8.2% |
*As on 30th June 2021
Since its inception in August 2019, EMKAY’s 12 portfolio has delivered 21.8% return (Model Portfolio) and 17.9% (TWRR) on a CAGR basis.
Back-tested Returns of Emkay’s 12
Back-tested Returns of Emkay’s 12
| Portfolio 1 : Returns for 10-year period (2008-2018) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| % Return CAGR | |||||||||
| Rolling 1 Year | Rolling 3 Year | Rolling 5 Year | |||||||
| Portfolio 1 | Nifty 50 | Difference | Portfolio 1 | Nifty 50 | Difference | Portfolio 1 | Nifty 50 | Difference | |
| Apr-08 | |||||||||
| Apr-09 | 1.0 | -32.8 | 33.8 | ||||||
| Apr-10 | 68.4 | 51.9 | 16.5 | ||||||
| Apr-11 | 24.7 | 8.9 | 15.8 | 28.5 | 3.6 | 24.9 | |||
| Apr-12 | 7.4 | -8.7 | 16.1 | 31.1 | 14.7 | 16.4 | |||
| Apr-13 | 23.7 | 13.0 | 10.7 | 18.3 | 4.0 | 14.3 | 23.0 | 2.8 | 20.2 |
| Apr-14 | 15.2 | 12.9 | 2.3 | 15.2 | 5.2 | 10.0 | 26.3 | 14.0 | 12.3 |
| Apr-15 | 38.9 | 22.2 | 16.7 | 25.5 | 16.0 | 9.6 | 21.5 | 9.2 | 12.3 |
| Apr-16 | -0.8 | -4.1 | 3.3 | 16.7 | 9.8 | 6.9 | 16.1 | 6.4 | 9.7 |
| Apr-17 | 12.7 | 18.5 | -5.8 | 15.8 | 11.6 | 4.2 | 17.2 | 12.1 | 5.1 |
| Apr-18 | 19.2 | 15.4 | 3.8 | 10.1 | 9.5 | 0.6 | 16.4 | 12.6 | 3.7 |
| Mar-19 | 11.0 | 9.8 | 1.2 | 14.3 | 14.5 | -0.3 | 15.5 | 12.0 | 3.5 |
Performance Update
*As on 30th June 2021
| Since Inception | |
|---|---|
| Model Portfolio | 21.8 |
| TWRR | 17.9 |
| Nifty | 20.6 |
| Underperformance / Outperformance (Model v/s Nifty) | 1.2 |
| Underperformance / Outperformance (TWRR v/s Nifty) | -2.8 |
*As on 30th June 2021
