IIFL FOCUSED INDIA FUND

ISIN Class Fx NAV Daily % Date MTD % YTD % LTM ITD  
LU2444714633 L1 USD 100.79 -0.75% 27/01/2023 -0.34% -0.34% 0.79% 0.79% More Info
LU2444715010 L2 USD 100.71 -0.75% 27/01/2023 -0.36% -0.36% 0.71% 0.71% More Info

Investment Managers

IIFL Asset Management Ltd ("IIFL") has been appointed as the Investment Manager to manage the investment and reinvestment of the assets of this fund. The key personnel at IIFL are Mr. Karan Bhagat and Mr. Anup Maheshwari, whose biographies are set out below along with the portfolio manager.
Karan Bhagat, Co-promoter, MD & CEO of IIFL Wealth & Asset Management Group
 
Karan Bhagat, who is the Co-promoter, MD & CEO of IIFL Wealth Management Limited (parent entity of IIFL Asset Management Ltd), had joined IIFL Group to set up IIFL Wealth Management Limited in early 2008 and is one of its founding members.
 
Karan-Bhagat
Karan is responsible for providing direction and leadership towards the achievement of the organization’s philosophy, mission, vision, growth and development of strategic goals and objectives of IIFL Wealth & Asset Management business. He was instrumental in building a team of experienced and talented professionals from within and outside the industry. He has worked for over seven years in Kotak Wealth Management prior to founding IIFL Wealth Management.

Karan holds an MBA in finance from Indian Institute of Management, Bangalore and acquired his Bachelor’s Degree in Commerce from St. Xavier’s College, Calcutta.
Anup Maheshwari, Chief Investment Officer
 
Anup has over 26 years of investment experience. He joined IIFL from DSP BlackRock Investment Managers (a joint venture between BlackRock and the DSP Group in India) in August 2018. He was associated with DSP BlackRock since July 1997 and was last designated as the Chief Investment Officer, Equities.
Anup-Maheshwari
Anup managed DSP BlackRock’s India funds from May 2001 to June 2018. For a brief period between December 2005 and May 2006, he was the CIO at HSBC Asset Management before returning to DSP BlackRock. Previously he was also associated with Chescor, a British fund management firm managing three offshore India equity funds.

He has a Bachelor of Commerce from Bombay University and Post Graduate Diploma in Management from Indian Institute of Management, Lucknow.
Mehul Jani, Portfolio Manager, Public Equity
 
Mehul has over 18 years of experience in covering and managing financial services and consumer stocks. Prior to working with IIFL, he worked with DSP BlackRock (a joint venture between BlackRock and the DSP Group in India) for 10 years as an analyst and fund manager.

Previously, he spent 4 years at Morgan Stanley Plc in London as an analyst, dealing with structured product valuation and fund derivatives.

Mehul is an alumnus of the Cass Business School, London and holds a Masters in Banking and International Finance. He is also a CFA charter holder.
Mehul-Jani

Investment Objective and Strategy

The investment objective of the Compartment is to provide long term capital growth, measured in USD, primarily through investment in equities and equity-linked securities of Indian companies or companies deriving a significant portion of their business from India.

Investment exposure will be achieved through equities and equity-linked securities (such as listed shares, ADRs and GDRs). Investors should refer to the "Risk Warning" section for special risk considerations applicable to this Compartment.

The primary objective of the strategy adopted by the Compartment is to run a concentrated portfolio, consisting of the team’s high conviction investment ideas. The strategy will be market cap agnostic and there will not be any restriction on the sectors in which it can invest.

The investment philosophy is centered around buying growing businesses, with above average return on capital economics, backed by managements with a track record of good governance and valued at a reasonable risk/reward ratio.

One of the Investment Manager’s key frameworks is the SCDV framework (Secular, Cyclical, Defensive, and Value traps). The Investment Manager defines these in purely quantitative terms and classifies its universe into these categories. This framework gives the Investment Manager the opportunity to generate alpha through market cycles. Stocks in the secular segment generally tend to offer higher earnings growth and high return on equity across market cycles. Further, the Investment Manager’s ability to switch weights between the cyclical and defensive categories depending on market cycles and macroeconomic turns offers us the flexibility to capture shifts in market cycles.

This framework is used as a screening tool wherein the strategy is largely based on bottom up stock selection, with a top down view. Sector pricing power trends and interest rates combined with bottom up stock selection play a significant part in the Investment Manager’s tactical calls.
 

Investment Restrictions

For the avoidance of doubt, the Compartment will not invest more than 10% of its net assets in UCITS and other UCIs (including open-ended exchange traded funds whose underlying belong to the Compartment's investment universe) (as defined under "Investment Restrictions" 1. (A) (1) d) of the Prospectus).

Investments in ADRs and GDRs will be limited to 10% of the Compartment’s net assets.

The Compartment may hold cash, cash equivalent and liquid assets on an ancillary basis.

In exceptional market circumstances and on a temporary basis, the Compartment may hold up to 100% of its net assets in liquid assets and investment grade debt instruments (including money market instruments).

The Compartment may use futures and options on securities, financial indices and interest rates for different purposes (i.e. hedging and efficient portfolio management).

For Classes of Shares not denominated in USD, the Compartment shall not hedge their currency exposure to the US Dollar. Further, the investments in this Compartment shall remain subject to fluctuation in exchange rate as the underlying investment will predominantly be in INR while the functional currency of the Share Class is USD. As such, 100% of the Compartment’s investments may be exposed to the foreign currency exchange risk.
 

Sustainability approach

The Investment Manager will integrate sustainability and ESG risks in its investment decision making process (the “Sustainability Risks”).

The material ESG risk factors are analysed alongside traditional financial factors and are considered in forming investment decisions.

Data collection is mainly through primary sources drawn from public documents provided by companies with supplementation from third party sources. The result of the ESG risk score will not be binding on the Investment Manager which will at its discretion decide to divest or engage with a company when considering Sustainability Risks integration.

While the Investment Manager will integrate ESG and Sustainability Risks in its investment decision making process, the Investment Manager does not currently consider principal adverse impacts of investment decisions on sustainability factors due to lack of available and reliable data to conduct a detailed assessment of such impact and to comply with the proposed disclosure norms under the SFDR. The Investment Manager intends to consider principal adverse impacts in due course as and when it can ensure availability of reliable and complete data.

The Compartment does not promote environmental or social characteristics within the meaning of SFDR (article 8) nor is it classified as a pursuing a sustainable investment objective (article 9). The investments underlying this Compartment do not take into account the EU criteria for environmentally sustainable economic activities.
 

About the Investment Manager

IIFL was incorporated in India as a public limited company under the Companies Act, 1956 on March 22, 2010, having its Registered Office at IIFL Centre, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai 400 013.

IIFL is a subsidiary of the IIFL Wealth Management Limited (publicly listed company in India) with its head office in Mumbai, India. IIFL acts as an investment manager to various private and public funds in India and provides investment advisory services to eligible investors including large institutions and high net-worth individual investors.

It is also registered as “Portfolio Manager” under the Securities Exchange Board of India (SEBI) Regulations, 1993. Under this registration, it also provides non-binding investment advisory services to eligible investors. It also acts as investment manager to IIFL Mutual Fund and various Alternative Investment Funds i.e. IIFL Venture Fund (Category I Alternative Investment Fund), IIFL Private Equity Fund (Category II Alternative Investment Fund) and IIFL Opportunities Fund (Category III Alternative Investment Fund). IIFL is registered with the SEC under the US Advisers Act.

 Documents

Filters
Document Category Language Year Date  
IIFL Webinar slides January 2023
Webinar Slides
English 2023 24/01/2023
HF IIFL Focused India Fund presentation - updated January 2023
General
English 2023 17/01/2023
IIFL Focused India Fund factsheet December 2022
Factsheets
English 2023 09/01/2023
IIFL Focused India Fund factsheet November 2022
Factsheets
English 2022 12/12/2022
IIFL Focused India Fund Factsheet October 2022
Factsheets
English 2022 17/11/2022
IIFL Focused India Fund Class AI $
Key Investor Information Document (KIID)
English 2022 19/08/2022
IIFL Focused India Fund Class L1 $
Key Investor Information Document (KIID)
English 2022 19/08/2022
IIFL Focused India Fund Class L2 $
Key Investor Information Document (KIID)
English 2022 19/08/2022

 Locked Documents

Filters
Document Category Language Date Year  
IIFL presentation updated January 2023
Manager Presentations
English 2023 12/01/2023
The Best of 2022 in Insights - IIFL AMC
Investment Letters
English 2023 09/01/2023
This time it's different, right
Investment Letters
English 2023 09/01/2023
India: Raining dollar-multi-baggers November 2022
White Papers
English 2022 07/12/2022
Who owns Indian companies?
White Papers
English 2022 07/12/2022
INDIAN FINANCIAL SERVICES - A Primer
White Papers
English 2022 02/12/2022
Note on Financial Services - November 2020
White Papers
English 2022 02/12/2022
Five Trends in the digital payments and lending space
White Papers
English 2022 02/12/2022
IIFL Webinar slides September 2022
Webinar Slides
English 2022 13/09/2022
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