Renaissance Investment Managers

India Next Fund Long only equity
SEBI CAT 3 (for the above fund)

About the AMC

·   Inception Year- 1st Jan 2018

·   Number of Stocks- 10-15

·   Founded by- Pankaj Murarka ( Founder and CIO of Renaissance Investments.

·   Focuses on creation of wealth through long term strategies.

·   Focuses on Risk Management and depicts them as their crucial component while investing. This enables them to create “Superior Risk adjusted Returns”.

Key Members

1. Pankaj Murarka (Founder and CIO)

·   Started his career as a Portfolio Manager in UTI MF (1997-2003) followed by Vice President in Motilal Oswal Financial Services Ltd. (2003-04)

·   Further he worked as a Portfolio Manager with Rare Enterprises and Merill Lynch.

·   Later in 2009, he joined Axis Mutual Fund as a Fund Manager and rose to CIO- Equities of the same.

·   Handle two flagship schemes- Axis Small Cap Fund and Axis Equity Fund.

·   Recognized by Outlook Money as a Leading Fund Manager with 5 years of track record of consistent performance in the year 2015 Best Fund Manager.

·   Runner-Up for Axis Mid Cap Fund in 2014 by Outlook Money (from over 40 funds)

2. Pawan Parekh (Senior Analyst)

·   He seems to posses Analytical advantage as he has depicted to understand various models of business.

·   He has worked to generate thematic reports of various companies.

·   Has worked in multiple sectors such as capital goods, infrastructure, power, etc across various companies.

Investment Philosophy (Firm)

 ·   They are trying to achieve a competitive edge by offering services at reasonable price along with quality growth.

·   Investment Philosophy- Bottom Up. Thus, chances of tracking error is high but they are able to create a unique as well as differentiated portfolio for their investors.

·   Sector Agnostic and thus is not biased to work for a specific industry. Thus benchmark their “Agnostic Concentrated Portfolio” of their top 15-25 ideas.

·   While investing, profits are intended to be procured from the strategy of “ Buy and Hold”.

·   Focused on providing Sustainable Growth over long and medium term.

·   Considers Risk Management to be the central part of their investment approach.

·   Mostly invests in companies that have a potential of converting into large/ mega caps. This analysis is done on the basis of leadership qualities and the strategies into long term at the early stage of the company.

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Investment Strategy (Fund)

·   Renaissance Investments Managers has launched a hedge fund on the theme of India’s economy at a time when foreign portfolio investors have become net sellers since the start of this calendar year.


·   Would only invest in equities to gain advantage of the bullish nature of the stocks while almost every macroeconomic is at drawdown. This is done because Pankaj Murarka believes Indian economy to be at the inflection point.

About PMS:



Pankaj Murarka with Motilal Oswal Wealth

1. Title: Renaissance Investments Managers’ India Next Fund to invest in equities, Date: 31st July 2018, Platform: Business Standard

Link: (

·   Murarka says when the risk is higher or when the fear is higher in the equity market that is when you get the best price. “The point of highest pessimism is point of most favourable risk zone,” 

·   this hedge fund India Next Fund — would invest only in equities, says its founder Pankaj Murarka. As to why is the fund so bullish on India when almost every macro-economic parameter is showing downturn, he says, “I believe the Indian economy is at its inflection point, where the growth has started to return. The reason for decline was two back to back failed monsoons in 2014 and 2015 and while we were recovering from it, we had demonetisation, RERA and GST. And we expect gains from these structural reforms in the coming 8-12 months.”

·   Others include impact due to market or industrial conditions.

2.     Title: Pankaj Murarka on the sectors he is betting on, Date: 11th April 2018, Platform: Morning Star( In conversation with Ravi Samalad of Morningstar)


3. Title: Renaissance close to launching ₹ 1,000 crore AIF, Date: 9th July 2018, Platform: LiveMint


Similar to Business Standard interview


  1. How do you generate alpha, do you have informative , analytical or behavioral advantage?
  2. How is your fund different from traditional long only fund?  
  3. Is it close ended  or open ended fund? What is the target AUM?
  4. Are you raising funds from offshore investors as well?

Pepared by  -Avanti Nagbhidkar, May 2020

Peer review- Vanshika Bagrecha


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