ASK Indian Entrepreneur Portfolio - IEP PMS

Diversified

Equity

India Growth

Others

Aggressive growth Investor Profile

Investor Profile

Empty

HNI, UHNI, Retail Investor, Mass AffluentTarget Segments

SEBI registered equity mutual fund suitable for all investor categoriesRegulatory Fit

ASK IEP invests in alternative assets for non-traditional growth opportunities.

What This Strategy Does

ASK Indian Entrepreneur Portfolio is an equity fund which captures India's entrepreneurial growth through a concentrated portfolio of high-conviction businesses, deploying capital across financial services, healthcare, and capital goods to achieve broad-based earnings growth.

Role in a Diversified Portfolio

Within a diversified portfolio, ASK Indian Entrepreneur Portfolio - IEP PMS serves as a Hybrid—capturing earnings growth and consumption tailwinds while providing diversification through its exposure to mid-cap services, healthcare, and capital goods companies. As a multi-cap fund with a beta of 0.92 and R-squared of 0.79 versus the S&P BSE 500 TRI, it moderately amplifies portfolio volatility while maintaining a distinct risk profile. The fund fills portfolio gaps in consumer discretionary, industrials, and healthcare, complementing large-cap core and fixed income allocations.

CW Expert Research Notes

Consistent Earnings Delivery Across Cycles

The fund has demonstrated resilient earnings delivery, outperforming its benchmark in 4 out of the last 5 years, highlighting its ability to participate in upside while providing downside protection.

Differentiated Sector Positioning and Conviction

With overweight positions in Financial Services and Healthcare, coupled with underweights in cyclical sectors like Capital Goods, the fund expresses a defensive tilt and conviction in structural growth themes.

Balanced Risk Profile, Macro Catalysts

The fund exhibits a balanced risk profile, with a valuation in line with history, and potential catalysts from a capex revival, earnings momentum, and policy tailwinds supporting the macro thesis.

Performance and Risk Analysis

Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.

Benchmark Performance Comparison

ASK IEP

NIFTY 50

Detailed Risks

Market Risk

Potential recession driven by tightening monetary policy could dampen consumer demand, impacting sectors like Services, Automobile, and Retail.

Liquidity Risk

Exposure to small/mid-caps like Ratnamani Metals could face liquidity stress during volatility spikes, hindering rebalancing or exits.

Concentration Risk

Significant Financial Services exposure (38.64%) faces risks from asset quality stress, while Reliance's dominance (9.4%) is vulnerable to energy transition headwinds.

Specific Product Risk

Regulatory risks like data privacy rules could disrupt business models of technology holdings like TCS and Airtel.

Strategy Details

A closer look at the investment thesis, portfolio construction, and current holdings.

Core Investment Theme

Captures India's entrepreneurial dynamism by investing in high-growth companies across market caps. This flexible approach allows the fund to identify emerging winners early and participate in their full life cycle—from small-cap disruptors to large, established leaders.

Broader Market View

Market Outlook

The Indian equity market appears to be in a post-correction recovery phase, offering an attractive entry point as consumption and earnings normalize. Sectors like financials, consumer cyclicals, and industrials stand to benefit from reviving domestic demand, capex revival, and improving credit growth. However, risks such as margin pressures and cyclicality warrant a balanced approach.

Why This Product is Attractive Now

The ASK Indian Entrepreneur Portfolio appears well-positioned for the current environment with exposure to market leaders across consumer, financial services, and technology sectors. Its diversification across ~70 holdings, coupled with a moderate risk profile, aligns it with the ongoing recovery while providing flexibility. The fund's balance between growth and stability makes it an attractive option.

Investment Style & Process

Investment Style

The portfolio reflects a Growth at Reasonable Price (GARP) approach, combining exposure to structurally growing sectors like Financial Services and Healthcare with valuation discipline.

Why it Makes Sense

This style appears sensible in the current market context, balancing growth opportunities with risk moderation through diversification across sectors and market capitalizations.

High-Level Investment Process

Sourcing: The portfolio suggests a preference for companies with strong competitive advantages, sustainable growth drivers, and reasonable valuations across market capitalization segments. Selection: Holdings appear to emphasize quality characteristics like high profitability, strong balance sheets, and capable management teams. Construction: The portfolio is well-diversified across sectors, suggesting a focus on risk management through sector allocation and position sizing.

Portfolio Holdings Overview

SectoralAllocation

Capital Goods23.01%

Energy & Infra16.15%

Financial Services38.64%

Services35.32%

Top Stock Holdings

CompanySectorAllocation

Reliance Industries Ltd9.40%

Kotak Mahindra Bank Ltd8.58%

UltraTech Cement Ltd6.75%

IndusInd Bank Ltd6.10%

InterGlobe Aviation Ltd5.73%

Bajaj Finserv Ltd5.70%

Cholamandalam Investment and Finance Co Ltd5.41%

Tata Consultancy Services Ltd4.96%

TVS Motor Co Ltd4.82%

AU Small Finance Bank Ltd4.41%