It has been four years since ithought was ideated. To many who know my circumstances, this was a move that wasn’t easily understood. The times were such – 2009 was a year when the infra thematic funds and energy funds had drilled and destroyed investor confidence. The industry had manufactured toxic thematic funds in infrastructure and energy that were born to fail. And, these had been hard sold to raise thousands of crores of public money. Entry load had been banned leaving revenues of distributors in shambles. Advisory was not even a workable idea at that time.
“Why do this? Where was the necessity? What is the need?”
I had been a research driven value investor for two decades. I had a track record and investment approach as an investor in direct equity. I was known by my investment style and the choices I made. The idea of entering a space where I was to actually deploy money on the investment style of another guy – a fund manager, was hardly appealing to many to whom I sounded out. Yet, I was intent on building an investment practice in funds and financial products.
To me, the inspiration was simple.
Every investor needed something that will make his investing succeed. To me it was amply clear that this something was an investment process. I was convinced I could build this process. I liked the implicit challenge. The challenge was to build an investment process that was agnostic about brand power, fund manager’s image, incentive schemes and popular thinking.
The process simply had to be the sole driver of the business. It had to deliver research, investment discipline and strategy to every investor without bothering him too much. So, we built the process for two years and then invited investors to experience it. These two years of building investment processes for our customers have given us great insights, learnings and forward looking strategies.
The surprising part was that we didn’t sell even a single product. We simply bought the best products for our customers. We made it our mission to keep identifying potential winners.
An ironic surprise landed on my phone a few weeks back. We had been chosen for two awards in the IFA category.
1. Champion sales – equity & hybrids for South Metros.
2. Distributor of the year – South metros.
Both awards only show one thing – that a lot of investors trusted our investment judgment and process integrity. Thanks to the investor’s faith in us, we were able to invest a lot more equity than other IFAs. That the numbers translated into an award for sales and distribution is the irony, because we did neither of the two.
We dedicate this recognition to our investors. We promise you that we shall not sell you anything. We will only buy what we are fully convinced about.
When we win Sales awards for buying, we shall humbly place them as our dedication to you.
You are the reason for our recognition.