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The top five Indian equity managers

Citywire Americas reveals the top performing Indian equity managers over the last 12 months.

Investor appetite for Indian equities keeps growing as the country's growth potential gains pace.

Latin America’s biggest investors, the six Chilean AFPs, have invested billions into Indian strategies in 2017 and we’ve seen a number of fund houses bringing India managers to the region.

At our Citywire Latin America event, global economist Mario Weitz, described the country as the ‘star’ investment of the year and that Europeans were also clambering to get on the Indian growth train.

Over the past 12 months to the end of September the Nifty 500 has risen over 18.5% however, during that period, of the 190 Indian equity fund managers tracked by Citywire the average manager actually underperformed the benchmark, returning 17.9%.

The top performers managed to return at least of 25% over the last year.

Click through to see the five best returning managers. 

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5. Mike Sell

Fund: Alquity SICAV-Alquity Indian Subcontinent

Like many of his peers, Sell’s largest allocation is toward India’s banking sector at 16%.

In his latest factsheet he said that a recent trip to the country revealed that the implementation of the Goods and Services Tax had been a lot smoother than anticipated. Among his top holdings are M&M Financial Services, Yes Bank and Indusind Bank.

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4. Swapnil P. Mayekar

Fund: Motilal Oswal MOSt Focused Multicap 35 Growth

Mayekar runs his Multicap 35 Growth fund alongside Gautam Sinha Roy, who is co-manager on a number of other strategies. The Indian financial sector accounts for almost half the fund, with 24% in financial services and 21% in banks.

His third largest allocation is toward oil products at 14%, with the auto sector accounting for 13%.

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3. Vihang Naik
Fund: L&T Mid Cap Fund Growth/L&T Tax Saver Fund Growth

In third place is Vihang Naik, who works for the asset management arm of L&T Financial Holdings in India.

His largest fund is the $84 million L&T Mid Cap, which focuses just under a quarter of its assets in consumer non-durables (12%) and industrials (10.7%). As a diverse fund with around 80 stocks, its largest holdings are Shree Cements, Federal Bank and chemical group Aarti Industries.

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2. Vipul Mehta
Fund: Nomura India Equity

Citywire AAA-rated Vipul Mehta has been running Nomura Asset Management’s India Equity fund since its launch in 2005. Based in Singapore, Mehta runs a concentrated portfolio of 25 to 35 stocks, with his biggest overweights in financials and industrials.

His largest holdings include HDFC Bank and Housing Development Finance.

Click here to read our profile on Vipul from our July 2017 issue. 

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1. Daylynn Pinto
Fund: IDFC Tax Advantage (ELSS) Fund - Growth, IDFC Sterling Equity Fund - Growth

In first place is Daylynn Pinto, who works at one of India’s largest asset managers, IDFC. He runs two funds, with the largest being the Sterling Equity Growth fund at $230 million.

As a small/mid-cap fund, its largest allocations are toward the auto ancillary and banking sectors, with Minda Industries and Indusind Bank coming in as Pinto’s largest holdings in these sectors.

This article was originally published in the November 2017 edition of Citywire Americas magazine. To subscribe and receive the magazine click here.

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Related Fund Managers

Daylynn Pinto
Daylynn Pinto
1/186 in Equity - India (Performance over 1 year) Average Total Return: 56.00%
Vipul Mehta
Vipul Mehta
2/141 in Equity - India (Performance over 3 years) Average Total Return: 65.61%
Vihang Naik
Vihang Naik
10/186 in Equity - India (Performance over 1 year) Average Total Return: 46.86%
Swapnil P Mayekar
Swapnil P Mayekar
40/186 in Equity - India (Performance over 1 year) Average Total Return: 41.19%
Mike Sell
Mike Sell
32/141 in Equity - India (Performance over 3 years) Average Total Return: 43.17%
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