The Investment Adviser will follow its long-term, value investment philosophy and strategy employing a proprietary, team-driven bottom-up process for portfolio construction. The portfolio will be actively built and monitored while avoiding excessive churning.
The investment objective of the Q India Equity Fund (the “Fund”) is to achieve long-term capital appreciation by investing in the listed equities of Indian companies that are in a position to benefit from the anticipated growth and development of the Indian economy.
Investors assume increased risk when investing in India. The Investment Adviser believes that its job is to analyze, attempt to control, and monitor that risk, not enhance it. Risk is not only standard deviation, market movements and volatility. The Investment Adviser believes the risk also encompasses underlying liquidity, governance, and valuations. After filtering for liquidity and governance, the Investment Adviser generally buys a security at a discount to what it believes is the intrinsic value of the security.
Under normal circumstances, the Fund will invest at least 80% of its net assets in equity securities of Indian issuers. The Fund can hold cash when the Investment Adviser does not see value.
Sensible and Risk Adjusted Returns*
Liquidity Filter
Buying stocks which trade on average above US$ 1 million** results in high portfolio liquidity and seeks to ensure that the Fund has the ability to enter/exit stocks with ease.
Integrity Screen
A proprietary governance framework introduced in 1996 and refined over time with the goal of sifting out bad management, regardless of how large these companies may be in the index, their profitability, or their valuations.
*Sensible, risk-adjusted returns - Seeks to generate equity returns in line with long-term history of the strategy without taking undue liquidity and governance risk.
**The security has an average daily trading value of USD 1 million over the past 12 months
Quantum Advisors, the Investment Adviser for this Fund, has managed this strategy since June 2000 for Indian and global institutional investors. Ajit Dayal ("Founder") and I.V. Subramaniam ("Subbu", Group Head - Equities) introduced the Integrity Screen in 1996 and are amongst the longest serving equity portfolio managers from India.
Founder & Member, Portfolio Team, QAPL
While studying for his MBA at the University of North Carolina in Chapel Hill in 1981, Ajit had the urge to ‘go back to India and do something for my country’.
In 1990, he founded Quantum with a goal to help the Indian financial markets move from a lower level of orbit to a higher level of orbit. Having been burnt by investments in companies run by crony capitalists in the early 1990’s, Ajit pioneered the introduction of a proprietary Integrity Screen in 1996 to sift out the Indian equivalents of Enron, Worldcom, Yukos, and Wirecard from client portfolios. The partnership from 1997 to 2004 with Tom Hansberger, and his 4 years as the Lead Manager for the Vanguard International Value Fund gave structure to Ajit’s evolving desire to build a ‘respected investment institution’ which has resulted in the evolution of Quantum Advisors as one of the well respected investment firms in the business that happens to focus on India and happens to be based in India.
Ajit has 40 years of experience in the Indian capital markets and has authored over 100 articles to inform, educate, and guide investors on why and how sensible, patient long-term capital can enjoy the benefits of India’s continued economic growth – without taking undue risks.
Ajit was born in 1960.
MD and Group Head – Equities, QAPL
Subbu has 33 years of experience in the Indian capital markets, including 4 years in global equity research.
Subbu began his career in 1989 and gained experience in capital markets in the areas of broking, registrar, and stock trading based out of Hyderabad. With a deep desire to do equity research and be part of a team that places “client's interests first”, Subbu joined Quantum in 1996, endorsing Ajit’s ambitions for Quantum India
The partnership from 1997 to 2004 with Tom Hansberger enabled Subbu to understand the importance of research and investments process on a global platform and to modify and implement those processes for the India-focused, long-term value equity portfolio built at Quantum Advisors with an audited track record since 2000.
Since June 2000, Subbu has managed India-dedicated portfolios for India-based clients and from 2005, he has managed India-dedicated portfolios for international clients.
Subbu is a CFA Charterholder. Subbu was born in 1962.
Portfolio Manager - Equity, QAPL
Nilesh Shetty has 20 years of experience in the Indian capital markets as an Analyst and Portfolio Manager.
In addition to being Quantum’s primary analyst for Capital Goods, Insurance and Aviation, Nilesh is a senior member of the portfolio team and manages portfolios for international clients.
Prior to joining Quantum, Nilesh worked for 2 years at Edelweiss Capital as an analyst. Nilesh received his Masters in Management Studies from Mumbai University in 2003. He is a CFA Charterholder and a Chartered Global Management Accountant, having completed CIMA (UK).
Nilesh was born in 1980.
Disclaimer :
Q India Equity Fund is distributed by Ultimus Fund Distributors LLC (Member FINRA) https://www.finra.org/. Ultimus Fund Distributors is not affiliated with the Fund or Quantum Advisors Private Limited.
The Funds’ Prospectus contains important information about the Funds’ investment objectives, potential risks, management fees, charges and expenses, and other information and should be read and considered carefully before investing. Investors may obtain a current copy of the Funds’ prospectus by calling 1- 833-894-0514.
Sensible, risk-adjusted returns - Seeks to generate equity returns in line with long-term history of the strategy without taking undue liquidity and governance risk.
The Fund is a new Fund and does not have any past performance record as of December 31, 2024.
Quantum Advisors Private Limited , Investment Adviser to the Fund are registered in India as a Portfolio Manager with Securities and Exchange Board of India (SEBI), India vide registration number INP000000187. Also registered with the U.S. Securities and Exchange Commission (SEC) as an Investment Adviser and as a Restricted Portfolio Manager with the Canadian Provinces of British Columbia (BCSC), Ontario (OSC), and Quebec (AMF). (Note - Not registered with any other regulator. Registration with the above regulators does not imply any level of skill or training).
Important Risk Information :
Risks associated with the investments in India could adversely affect the performance of the Fund and result in substantial losses. Investment in Indian markets involves risk factors and special considerations which may not be typically associated with investing in more developed markets. Additional risk factors concerning India are include in the prospectus.
Investing involves risk, including loss of principal. The value of the fund's shares, when redeemed, may be worth more or less than their original cost.
The Fund’s portfolio with a geographical focus may be more volatile than a broad-based fund portfolio, such as a global equity fund portfolio, as they are more susceptible to fluctuations in value resulting from adverse conditions in the countries in which they invest.
The past performance of Adviser does not represent the historical performance of the Fund and should not be considered a substitute for the Fund’s performance or indicative of past or future performance of the Fund.
Investments in international markets present special risks, including currency fluctuation, the potential for diplomatic and political instability, regulatory and liquidity risks, foreign taxation, and differences in auditing and other financial standards.
Abbreviations Used :
PER : The price-to-earnings ratio measures a company's share price relative to its earnings per share (EPS).
PCF : The price-to-cash flow ratio is a stock valuation indicator or multiple that measures the value of a stock’s price relative to its operating cash flow per share.
PBV : The price-to-book value (P/BV) ratio measures the company's share price relative to its book value per share.
