Honest answers to reasonable questions.
The questions most prospective investors ask, addressed plainly and without hedging.
What is the minimum investment?
Our minimum long-term investable capital is ₹2.5 crore. The figure is not about exclusivity — it is the level at which a genuinely research-led, few-clients relationship is worthwhile for both sides. We discuss fit candidly on a first call.
Do you take custody of funds?
Never. Every rupee remains in your own account, in your name, at all times. We advise; you hold. Nothing moves without your instruction.
How long should I expect to hold?
Our base holding period is measured in years, not quarters. Investors who may need this capital within three years are not the right fit for the approach.
What should I expect in a drawdown?
Quality bought when it is out of favour can still fall further before it recovers — that is the nature of buying in distress. We expect meaningful paper drawdowns along the way and judge every position over years, not months. Because we begin with the downside, the aim is to own businesses that endure the fall rather than to avoid it entirely.
Why do you sometimes hold cash?
Cash is a residual, not a market call. When nothing on our watchlist clears the bar on both quality and price, we would rather wait than lower the bar. Patience is part of the method, and a cash weighting is simply the absence of anything worth owning today.
How do you charge?
A transparent, fee-only advisory fee. We accept no commissions, trail fees, or referral payments of any kind. Our incentive is aligned with yours and with nothing else.
How many clients do you work with?
A deliberately small number. Capacity is limited by design — more clients means less attention per client, and we refuse that trade-off.
What markets do you invest in?
Primarily Indian equities. Where the opportunity set supports it, we will also consider international markets and other asset classes in the interest of sound, whole-portfolio construction.