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Flexi Cap Portfolio

Investment Philosophy: A diversified equity portfolio that endeavors to achieve long term capital appreciation and generate returns by investing across market Cap.

The Investments are targeted at long-term capital appreciation and follows GARP (Growth at Reasonable Price) Philosophy. The focus is on identifying stocks with attractive growth prospects that are available at reasonable valuations.

The investment strategy follows a mix of a top-down and a bottom-up approach. The top-down approach is used to identify key macroeconomic and sectoral themes and subsequently help identify stocks that will benefit from the same. A bottom-up approach is applied based on the belief that there are always individual companies that provide attractive investment opportunities in various industry and market conditions. The prominence given to the top-down vs. bottom-up approach would vary from time to time depending on macroeconomic, sectoral and company specific fundamentals. The Portfolio Manager would aim to give a lot of weightage to factors like strong management, scalable businesses and pricing power of the company, sustainable competitive edge and visible brands, while selecting investment ideas.

The Portfolio Manager aims to maintain a diversified portfolio by investing in a basket of stocks across market capitalization, without any undue concentration in any stock or sector. The Portfolio’s multi-cap investment approach, based on valuation gaps between large, mid and small cap stocks, facilitates participation in India’s growth story and at the same time, benefits from diversification.

• Diversified Equity portfolio with exposure across Large, Mid and Small Cap
• A focused portfolio of 20 – 25 ideas
• Maximum exposure to a security – 10% of the Portfolio
• Maximum exposure to a sector – 25% of the Portfolio