Edelweiss Asset Management

About

Edelweiss Asset Management Limited is sponsored and managed by Edelweiss Financial Services Limited, an Indian conglomerate operating in the financial services sector of the company since 1996. In 2014, Edelweiss Financial Services acquired Mumbai-based asset management company, Forefront Capital Management. In 2016, it completed the acquisition of fund schemes of JP Morgan Asset Management India.

As of 31th May 2022, it had an AUM of Rs 94,388.84 crores (~ $12.10 billion taking INR 78) spread across 40 funds.

Key staff

Radhika Gupta, MD & CEO of Edelweiss AMC- has more than 15 years of global asset management experience. She started her career with global giants McKinsey and AQR Capital, and then moved to India to start Forefront Capital Management, India’s first registered domestic hedge fund. She joined Edelweiss Group, after the acquisition of Forefront, scaling up the hedge fund business and also leading two asset management acquisitions – JP Morgan and Ambit Capital. She became the CEO of the mutual fund business in 2017. She graduated from the Management and Technology Program at the University of Pennsylvania, with the highest honours, and joint degrees in Economics from the Wharton School and Computer Science Engineering from the Moore School.

Trideep Bhattacharya CIO, Equities – has over two decades of experience in equity investing across Indian and global markets. Prior to joining Edelweiss AMC, he was instrumental in building a market leading PMS business at Axis Asset Management Company, as Senior Portfolio Manager – Alternate Equities. He has also spent a significant amount of time as a Portfolio Manager at State Street Global Advisors and UBS Global Asset Management (London, UK). He holds a PGDBM in Finance from SP Jain Institute of Management & Research, Mumbai and B.Tech in Electrical Engineering from IIT, Kharagpur.

Dhawal Dalal, CIO of Fixed Income – had joined Edelweiss Asset Management Limited in the year 2016. He is responsible for the overall growth of fixed income assets through a healthy mix of retail and institutional clients. Before joining Edelweiss, he was the head of Fixed Income at DSP Black Rock Investment Managers Private Limited and led a team of Fund Managers managing fixed income assets. He has over 20 years of experience and an MBA from University of Dallas (USA). 

Investment philosophy

For equities – “Our FAIR investment framework helps in identifying Robust and clean businesses available at acceptable price and also keeps us informed on their ESG standings. What we don’t do – take out-sized sector bets, Macro calls, Cash-calls.” F stands for forensics, A for acceptable price, I for ESG informed, R for robustness.

https://www.edelweissmf.com/assets/pdfIP/Edelweiss%20MF%20Equity%20Investment%20Philosophy%20&%20Process.pdf

For fixed income – “We manage your money with a CLEAR process and philosophy.” C is avoid credit risk, L is ensure liquidity, E is ensure synergy with edelweiss principles, A is actively managed funds with care and in line with the investment mandate, R is maintain the perfect balance between risk and reward.

https://www.edelweissmf.com/assets/pdfIP/Fixed%20Income%20Investment%20Philosophy.pdf

Analyst questions

  1. In the investment philosophy you mentioned you do not take cash calls are fully invested so why is the cash portion in your small cap fund at higher levels at around 4.48% as on 31st May 2022. Similarly with midcap fund the cash holding is at 4.43%?
  1. Since you are value/growth agnostic how do you differentiate between value and growth?

Prepared by Rahul Sharma, June 2022

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