Funds managed
Fund name | Asset Class | License |
ITI Long Short | Long Short Equity | SEBI AIF Cat 3 |
About the AMC
- AMC was incorporated as Fortune Financial Services India Private Limited on June 14, 1991 . It was converted into public company on October 20, 1994. Further the name changed to “The Investment Trust of India Limited” with effect from June 9, 2018.
- The fund commenced its operations in April 2018.
- AUM 130 cr. And open ended fund.
- Key staff- Rajesh Bhatia, MD & CIO at ITI Long Short, Last assignment : CIO, Simto Investments, a subsidiary of Tata Investments; proprietary book , Co-founder & CIO, Heritage India Advisors, Indian advisor to New York based, Heritage Capital, an India long-short equity fund; Senior VP & Head, Portfolio Management Services (PMS), Reliance Capital Asset Management.
- Rajesh Aynor, fund manager at ITI, prior work experience- Equity Analyst, PNB Met Life Insurance, Mumbai Fund Manager – Offshore, Mirae Asset Global Investment Equity Analyst, Tata Mutual Fund
- Siddhartha Bhotika, fund manager, prior working experience- Equity Analyst/ Economist, Aviva Life Insurance India , Economist at Tata Securities, Morgan Stanley Advantage Services, ICICI Bank, completed CFA program.
Investment Philosophy
Fund Theme- (open ended)
Fund Objective
• To outperform the Nifty index over a full equity market cycle, while protecting downside during equity market downturns along the way; thus lowering volatility of performance & lowering risks
• Fund focus on long term capital appreciation
Fund Approach:
• Primarily a fundamental driven, stock-picking approach, both on the long and short side
• Each “stock-pick” on absolute return merit; contrast to index hugging
• Comprehensive, yet ever-evolving checklist to filter opportunities; a thinking framework
• Concurrently, tactical navigation of the portfolio across the market cycle; increasing risk exposure in undervalued/oversold markets & reducing risk exposures in overvalued/overbought markets
Media
•Print media coverage
“Investors are looking at Long Short funds as a lower downside in the bear market can help fund manager to re deploy the conserved capital to reenter equities at beaten down valuation” – Rajesh Bhatia, MD
- Broadcast media
- Title Market Opinion
Media Platform- CNBC TV 18
Date-March25, 2020
https://mobile.twitter.com/CNBCTV18News/status/1242712434151788545
(comment- short term view covering repercussion of COVID -19)
- Title- Market Will Rise Further Once Coronavirus Issue Subsides
Media Platform- CNBC TV 18
Date-Feb24, 2020
(comment- short term view covering impact, implication due to COVID-19)
Analyst questions
- How are you able to outperform the benchmark, what is the source of alpha generation, do you have information advantage, analytical advantage or behavioural advantage?
- What is the criterion that you look for while undertaking the tactical position?
- Are you long bias, or long short neutral i.e. market neutral?
- How do you carry out due diligence process?
- What is your fee structure?
- If the hedge fund manager values any portion of the portfolio themselves how often are these valuations revised? (i.e the periodicity?)
- Does the hedge fund manager have a key person insurance? If so to whom are these policies payable the fund or the AMC?
You must be logged in to post a comment.