2Point2 Capital Advisors LLP is a SEBI registered Portfolio Management Services (PMS) provider (vide registration number INP000005190).
About the AMC
- Co-founded in 2016 by Amit Mantri and Savi Jain. They were batchmates at IIT Kharagpur during graduation.
- The founders studied together at IIT Kharagpur more than a decade back. “2.2” is the length in kilometers of the arterial road that runs through the center of IIT Kharagpur.
- Amit Mantri (co-founder), Savi Jain (co-founder), Bhavit Visaria (operations head).
- Amit Mantri (IIT KGP 2007, IIM B 2010)- CFA charterholder, former VP Hornbill Capital (2015-16), former Associate IDFC Alternatives (2014-15), former VP Zephyre Peacock India (2010-14).
- Savi Jain (IIT KGP 2008)- CFA charterholder, former Associate Director Tano Capital (2012-16), former Board of Directors MSH Sarees (Jashn) (2015-16), former Analyst at Frontline Ventures (2010-12), former Manager at ICICI Prudential Life Insurance Company Ltd. (2008-10).
Investment Philosophy (for firm)
Guided by the value investing principle of buying a security at a discount to its intrinsic value.
Investments are selected based on the following criteria:
- Competitive Moat- The competitive moats that attract us are those driven by strong brands, distribution strength, inherent cost advantages, technology/IP and high switching costs.
- Margin of Safety-Our valuation of businesses is absolute and not relative. We steadfastly follow the principle of ‘Be fearful when others are greedy and greedy when others are fearful’.
- Corporate Governance-We believe stable long-term returns are generated by partnering managements that treat minority shareholders as equal partners.
- Sectors-We avoid investing in highly regulated sectors, sectors linked significantly to commodity prices, ‘fad’ driven sectors and sectors exposed to technological disruption. We also avoid sectors that over a long period only generate accounting profits and not cash flows.
Other important points:
- Significant own capital invested in same portfolio (10 crores+).
- Concentrated portfolio – No unnecessary diversification; PE like rigorous diligence process in making investments.
- Strong returns – beating NIFTY and MIDCAP100 and all leading Mutual Funds by a wide margin.
- The minimum investment amount in 2Point2 Capital PMS is 50,00,000 (Fifty Lakhs).
Media
Title: MIdcap Mania: Truth vs Hype, Source: CNBC TV 18, Date: 08 June 2018
https://www.youtube.com/watch?v=t1qewj086Ks&feature=emb_logo
- On Amit Mantri’s Manpasand Blog- Amit Mantri came to limelight after this blog, which initially no one paid attention but when the auditor resigned bubble busted.
- Corporate governance focus of 2Point2 Capital
- Identify bad investments and stay away from them
Title: Hot Money, Source: Bloomberg Quint, Date: 13 July 2017
https://www.youtube.com/watch?time_continue=31&v=IhVU4SLAopg&feature=emb_logo
- Discussion on stocks of- Idea Cellular, Asian Granito, Dewan Housing, RIL Nippon, Infra sector
- Vodafone Idea merger- Savi Jain is negative about Idea-Vodafone being the largest player after the merger.
Title: Trend Spotting, Source: Bloomberg Quint, Date: 21 December 2017
https://www.youtube.com/watch?v=JQF21shpDFk&feature=emb_logo
Car Battery Makers: No Charge?
Amit Mantri discusses Exide and Amara Raja Batteries that have underperformed on YTD compared to other auto ancillary companies. – Opportunities in Electric Vehicle Space.
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