VISION TO BE THE BEST PERFORMING HEDGE FUNDDelivering best in class risk adjusted returns
Across market conditions
STANDOUT PERFORMANCE46% pre fee average annual performance for 5 years
As certified by Grant Thornton
FIRST RELATIVE VALUE STRATEGY AIF CAT III HEDGE FUND IN INDIATake advantage of market volatality
Through fundamental insights of sectors and companies.
Meticulous application of knowledge"Í never cared much about others' conclusions - only for the reasoning that led to
these conclusions. That reasoning had to make sense to me. Through this process
I improved the chances of being right and I learned a lot from lot of great people."
- Ray Dalio
Overview
Started in 2009 to create lasting value for our clients through Transparency, Integrity, Professionalism and Responsibility, We foster a culture that emphasizes on lean organization structure, high performance and highest ethical standards.
Investment Advisory
Vasisth Capital is one of the first SEBI registered Investment Advisers (IA registration number : IN0200014016) based out of Hyderabad, India. Vasisth has provided Investment advice to clients since its inception in 2009. Vasisth's customer base include professionals from various industries. Vasisth has conssistent and excellent track record of pre-fee return of 46% over five years with no negative year.
Investment Management
Vasisth serves as investment manager to Vasisth Relative Value Fund - a SEBI registered Category 3 Alternative Investment Fund. VRV is an open ended scheme offered by Avyay Trust. Vasisth Capital uses relative value strategy to generate alpha with well-defined risk management practices by trading in equity derivatives. It aims to deliver returns in consistent, repeatable and scalable fashion by trading only in companies and industries that adhere to high corporate governance and regulatory standards.
Vision
To be the Best performing Hedge Fund delivering best in class risk adjusted returns
Meet Our Team
We meet and get to know you. We build your wealth to realise your financial goals.
Ramesh Callore / Founder and Fund Manager
Ramesh is Founder and Managing Director of Vasisth Capital, the investment advisor of Vasisth Relative Value Fund. He has got expertise in development of relative valuation models for companies from different sectors. At Vasisth he conceives and implements various trading strategies, portfolio management and optimization. Ramesh has done MBA from ICFAI and B Tech from JNTU.
Rimpal Chawla / Director
Brings deep knowledge of global financial services industry to Vasisth as its Chief Advisor, Investor in Vasisth Capital Pvt Ltd and a limited partner in Vasisth Relative Value Fund. Prior to joining Vasisth, Rimpal was Managing Director at Credit Suisse’s private banking and wealth management divisions. Rimpal also held senior management positions at Goldman Sachs and Citibank. Currently he runs his own advisory firm Anitya Ventures and mentors many start-ups.
Sachin Kedia / Head Research
Sachin is associated with Vasisth Capital since 2016. Sachin is a Chartered Accountant and has a degree of Bachelor of Commerce from Osmania University. With more than 6 years of experience during his education and work, he has gained expertise in Research, Compliance and Risk management. At Vasisth, Sachin actively tracks key developments of the stocks in the universe. He contributes immensely in improvement of ‘Factor Models’ for the strategy. Sachin doubles up as risk manager and focuses on assessing the risk associated with the portfolio and suggesting appropriate measures to mitigate the risk.
Prem Kumar / Portfolio Manager
Prem with his valuable experience in equity markets, manages the portfolio by strictly adhering to the risk management guidelines developed internally. At Vasisth, Prem plans and executes trades harmonious to the Vasisth’s relative strategy. Prem Kumar incessantly interacts with the research team for the key updates on the Vasisth’s stock universe and takes trading decisions in line with the strategy objectives. He has done MBA finance from Sikkim Manipal University.
Years of collective experience
Companies tracked
Rate of return (%)
Investment Approach
With over 50 years of collective experience, Team Vasisth excels in understanding businesses, analyzing fundamentals and applying relative value techniques
Fundamental Research
Deep insights in multiple sectors including Banking, IT, FMCG etc. enables thorough screening, acceptance and grading of securities, pairs and sectors
Relative Value Modelling
Developed proprietary sector specific relative valuation models for PSU banks, Private banks, IT, FMCG, Cement, Oil sectors that are highly repeatable across business cycles and extremities.
Exploit randomness
Markets are an interesting mechanism reflecting inherent enterprise fundamentals, demand and supply, opinions, over/under reaction to macro and company specific events, biases, fear, greed and more. Volatility and random movement of securities are integral to such markets. We aim to exploit such randomness by separating the ‘core’ movement from the ‘noise’.
Investment Strategy
Vasisth's strategy consists of capturing temporal variations in asset prices - relative valuation gaps. Adopting fundamental factor models to accurately spot the valuation gaps and then making use of IT enabled algorithms for execution, together, makes it a highly repeatable and scalable investment strategy
Fundamental Factor Model
The model takes into account all factors that either positively or negatively impact the growth, efficiency and sustainability of one company over other. A well-structured framework encapsulates key modelling activities. Selection of securities/sectors/factors, Grading analysis, Factor sensitivity analysis, construction of core price series, Factor scoring etc.
Model Accuracy
Relative Factor models at Vasisth are not just back tested. Even in predictive period, Statistics for the model accuracy have shown consistent results even in widely varying industry and company specific cycles.
Streamlined portfolio Management
Real time IT-enabled portfolio management system encapsulating opportunity assessment, portfolio construction, monitoring, balancing and optimization.
Risk Management
“The risk management objective is survival, not profits and losses”
- Nassim Nicholas Taleb
Risk Approach
Risk dependent on the nature of strategy. Assess business-specific risks. Knowable and unknowable unknowns’ paradigm. Allowance for potential black swan events.
Risk Principles
Risk perspective even before position is taken. Independent assessment of risk. Strict adherence to limits. Clearly defined guidelines for hedging. Standard processes – unknowable unknowns.
Risk Methodology and Tools
Comprehensive risk policy statement with clearly defined roles. Automated real time monitoring and report generation. Real time monitoring of risk at exposure, leverage, sector and security limits.
Track record
Vasisth has demonstrated consistent market neutral performance across bull, bear and sideways phases of market over the past few years.
Market Neutral
Relative value strategies are inherently market neutral. Vasisth has consistently delivered returns across bull, bear and sideways market cycles.
Low risk Moderate return
Our fund has exhibited lower volatility in returns much less than the benchmark Index. Vasisth has delivered best-in-class risk adjusted returns compared to most other investment alternatives like ETFs, mutual funds, commodities and currencies. Over six years of existence, we never had a negative year.
Best performance across asset classes
Over past six years, we generated alpha of 20.35%. Generated post tax return of 28% vs Nifty’s return of 7.23% and more than double the return generated some of the best mutual funds.
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"Every once in a while, the market does something so stupid it takes your breath away."
- Jim Cramer
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"In investing, what is comfortable is rarely profitable."
- Robert Arnott -
"Know what you own, and know why you own it."
- Peter Lynch
Vasisth Relative Value Fund
Our flagship product is a SEBI registered Category 3 Alternative Investment Fund (AIF Cat 3) - first in India
VRV is an open ended fund, launched with a corpus of 25 crores, and is expected to reach a corpus of 100 crores. IL&FS Trust Company Limited (ITCL) will act in the capacity of Trustee, and IL&FS Security Services Limited (ISSL) will act in the capacity of the custodian. KPMG helped liaison with SEBI to help with the registration process.
VRV is for investors seeking attractive absolute returns along with diversification into market neutral investments.
