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Promising AMC's maiden fund posts stellar 1st year performanceNimesh Chandan, Bajaj Finserv AMC, Pune

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Bajaj Finserv Flexicap Fund – the AMC’s first fund –completed its 1st year recently with a strong top quartile performance, delivering over 500 bps alpha over broad market (Nifty 500 TRI)and its peer group average.

Nimesh feels vindicated and relieved: vindicated as he and his team have been able to demonstrate their differentiated investment process in action, whose outcome has started off on a good note. Relieved as he and his team have been able to live up to the high expectations that people have from the brand.

While he is pleased with the initial outcome and the way it has been delivered, the only thing he would have liked to see different would be a bit lower portfolio turnover in the initial months – which was caused by rapid changes in the market environment, which needed nimble strategy responses.

Nimesh promised a genuine flexicap fund at launch and true to promise, the portfolio today has around 55% invested in large caps and45% in mid and small caps. While large caps are relatively more attractive on valuations, he still doesn’t see the need to exit the mid and small cap stocks he is holding, though he has trimmed positions in many of them.

One of the megatrends he is very excited about is CDMO/CRAMS in the pharma space – and the recent passage of the US BioSecure Act is only going to drive lot more momentum for Indian CDMO companies as US pharma majors actively start looking for alternatives to Chinese players.

Other megatrends that find material representation in his portfolio include energy/new energy including equipment manufacturers and financers besides the core energy generation and distribution companies, the food ecosystem including packaged foods, QSRs, food delivery etc, and financialization which includes banks and capital market companies.


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Comments Posted
Sandeep Gandhi ARN NO :8180 Rajkot, 13 Sep 2024

Well articulated interview. Thinking differently can give different results and which is reflected in the performance. Nimeshbhai is doing a good job in managing the funds. Keep it up!!

Mohsin Bijepuri ARN NO :33913 Chennai , 12 Sep 2024

An AMC built on strong fundamentals, with a well laid out behavioural edge strategy is proving its policy right. The interview is a true insight into how the Master CIO is implementing the strategies.

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