Fund Review: Rangoli India Fund-Series A
The Rangoli India Fund, a sub-class under the K India Opportunities Fund Limited, targets long-term capital growth by investing in equity and equity-linked securities of Indian companies listed on Indian stock exchanges. The fund is managed by Kotak Mahindra (International) Ltd, Mauritius, with advisory services provided by Unifi Investment Management LLP, Gift City, India.
Investment Objective & Strategy:
- The fund follows a concentrated, long-only, flexi-cap, sector-agnostic strategy in listed Indian equities, anchored in the GARP (Growth at a Reasonable Price) principle, focusing on 15-20 exceptional businesses with a strong growth bias.
- This fund aims to expose its portfolio to the underlying drivers of India’s growth, including demographic factors, productivity gains, and public policy initiatives aimed at unlocking productivity.
- The funds invest in businesses led by exceptional entrepreneurs with unimpeachable integrity and industry-leading business acumen, focusing on non-speculative and inherently capital efficient business models.
- The fund’s valuation principles center on four critical metrics for minority investors: governance, sustainability of earnings growth, capital efficiency, and debt burden, aiming to find quality businesses at fair valuations.
The Rangoli India Fund is poised to outperform due to its strategic focus on high-quality, growth-oriented businesses, its exposure to the key drivers of India’s economic growth, and its disciplined adherence to critical valuation metrics. This unique approach allows the fund to capitalize on the diverse opportunities in the Indian equity market, potentially delivering superior long-term returns.
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