Master Portfolio Services

About 

Master Portfolio Services Limited (MPSL) is a public limited company incorporated under the Companies Act, 1956 to do business of portfolio management services. It has been registered with Securities and Exchange Board of India (SEBI) as a Portfolio Manager since February 2003, with registration Number INP000001637 under the SEBI (Portfolio Managers) Regulations 2020. Our Portfolio Management Services is an exclusive offering from Master Trust Group that specializes in providing risk managed investments. Our primary goal is to outperform market averages consistently, thereby creating long-term wealth, and at the same time, carefully manage risk as per the set objectives of our clients.

Master Portfolio Services Limited is promoted by Master Capital Services Ltd. (MCSL) which was incorporated in the year 1994 as 100% subsidiary of Master Trust Limited.

 Top Group Companies of the Portfolio Manager on turnover basis: Master Trust Ltd. Master Capital Services Ltd. Master Share & Stock Brokers Ltd. Master Commodity Services Ltd. Master Insurance Brokers Ltd. Master Infrastructure & Real Estate Developers Ltd. HA Share & Stock Brokers Ltd.

Key staff

Gurmeet Singh Chawla, MD at Masters Portfolio Ltd – Gurmeet Singh Chawla is the Managing Director at Master Portfolio Services Ltd and Director at Master Trust Ltd and Master Capital Services Ltd. He has previously worked at Haryana State Industrial Development Corporation as Deputy General Manager, Punjab Financial Corporation as Deputy Manager and at other leading industries like Ballarpur Industries, Punjab Tractors, etc. He has been an activist in entrepreneurship environment as an Angel Investor and mentor for many startups since a long time. He is the Promoter Director at Chandigarh Angels Network. He is also Charter member at TiE, Chandigarh and a member at many other organizations like CII, CMA Rotary Club Chandigarh, etc.

Manish Bhandari, Fund Manager, PMS – Manish has two decade of experience in the capital markets  and has co-founded Vallum Capital , an investment management and advisory  firm  in 2010, advising institutional, Family Offices, and HNI’s for equities and Asset Allocation.  He has worked as a VP and portfolio manager (equities) with ING Management India for 6 years; managing and advising equity assets worth more than USD $50 million. He is post graduate in business administration Certified International Investment Analyst; Switzerland. 

Investment philosophy

  1. Investment Approach I: MPSL Vallum India Discovery Strategy 

Investment objective: To construct an optimally focused portfolio of bonds and equities of Mid Market securities, Large Cap turnaround companies, corporate bonds or government securities to beat the benchmark by 5% per annum of the investment horizon delivering superior risk adjusted returns. The portfolio may contain up to 25 securities with the investment universe defined by Portfolio Manager. However, the number of securities can differ based on circumstances. The securities shall be selected based on a bottom up research process where in the fundamental of the securities will be studied and based on expected risk and return from such investment, the said security shall be included or excluded from the portfolio

Investment Tenure: > 3 years

 Benchmark: BSE-Mid Cap Index

  1. Investment Approach II: MPSL iRage Absolute Return Strategy

 Investment Objective to generate about 11% to 12% per annum gross returns over the short term period while maintaining low monthly volatility in returns. The strategy is a low risk investment albeit not risk free investment and is suitable only for financially sophisticated investors who are capable of evaluating/understanding the risks and merits of such investment. However, while the aforesaid is the objective, it needs to be reiterated that there can be no assurance and/or guarantee of such growth or return or even as regards preservation of capital or of there being no capital loss.

Investment Tenure: > 6 months

 Benchmark: CCIL TBILL Index

Type of Securities & Allocation:

InstrumentsIndicative Allocations (% of portfolio value)
Equity0-100%
Debt0-100%
Cash & Cash Equivalent0-100%
Mutual Funds0-100%

THE FINANCIAL PERFORMANCE OF THE PORTFOLIO MANAGER (BASED ON AUDITED FINANCIAL STATEMENTS in lakhs

Year ended Profit/ Paid-up capitalIncomeExpenditure(Loss) after tax
March 2019 81.00553.67533.4120.26
March 2018   81.00726.85650.5856.59

No. of clients as on last day of the month March 2021 583.00000

Total Assets under Management (AUM) as on last day of the month (Amount in INR crores) 546.67800

Media 

Gurmeet Singh in a conversation with Dimpy Kalra on Founder India discussed about the market in pre and post covid period.  In the covid period the agro industries and the rural economy has grown. There will be bottom top approach where the focus will be on which companies acting better.  The health care auto shares to be hold during this period. Post Covid the preference of people has been changed and hence the company which meets the expectations of the customer will grow. The high leverage companies and who can’t challenge will fall. The leadership won’t be based on sector wise but t will be rather based on company wise.

Analyst questions 

  1.  What is the company’s investment philosophy?
  2. What kind of analysis is done before investing?
  3. Why is AUM not mentioned?
  4. On what basis they invest whether valuation or growth?
  5. Why is the funds managed not stated on the website?

Prepared by – Dishant Savla

May 2021

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