Bay Capital

Funds managed

Fund nameAsset ClassLicense
Bay Capital Investment Long only public equitiesPMS

About the AMC

Bay Capital Partners is a leading independent, India focused investment manager established in 2006.Founded by Mr. Siddharth Mehta. The Bay Capital India Fund (BCIF) is a culmination of decades of experience of the Bay Capital team in Indian financial markets. BCIF invests exclusively in publicly traded securities in India and aims to deliver consistent compounding returns by investing in a portfolio of companies that are market leaders with moats incredibly difficult to breach. We believe in an ‘equity yield curve’ where returns increase with time and therefore seek investors who share our belief in the power of compounding. Our clients include endowments, foundations, family offices and corporate pension funds.

  • Key staff –
  • Siddharth Mehta
  • Nikunj Doshi
  • Keyur Majmudar
  • Ravi Shrivastava
  • Prachi Kodikal
  • Nishad Karkare
  • Rahul Jha 
  • Devang Mehta 
  • Key Fund Manager – Ravi Shrivastava

Ravi is a Partner & Head of Research at Bay Capital. Ravi has over 8 years of professional experience in strategy & decision consulting, investment analysis, mergers and acquisitions. Prior to Bay Capital, Ravi was an Engagement Manager with Singapore based strategy consulting firm SLC where he led several engagements with clients across India, Asia-Pacific and US. Prior to SLC, he was part of the Mergers & Acquisitions team of Siva Group in India.

Ravi is an Electronics & Communication Engineer from NIT, Nagpur and PGDM from Indian Institute of Management, Ahmedabad (IIM A). He is a CFA® charter holder.

Investment Philosophy (for firm)

  • BUY GREAT BUSINESSES – Look for companies with sustainable high Return on Capital Employed (ROCE) and impeccable corporate governance standards and sponsor history, available at reasonable prices.
  • DEPTH OVER BREADTH – Long only public equities, concentrated portfolio (15-20 businesses). Our focus on 20% of the market allows us to avoid noise from 80% of the market.
  • DON’T TRADE MUCH – Unleash the power of compounding through long term holding and low turnover (5-20%). Also has positive implications for expense ratio (lower market impact/commissions) and for long term taxable investors.

The fund aims to achieve positive absolute returns over the long term with a strong focus on capital preservation. As a result, the portfolio does reasonably well during favourable markets while lMedia

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Analyst questions

Prepared by – Ridhima Jaisinghani

Date – 6th May 2020

Peer review – Shivani Kadam

Date – 11th May 2020.

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