Motilal Oswal Asset Management Company Ltd. (MOAMC) is a public limited company incorporated under the Companies Act, 1956 on November 14, 2008, having its Registered Office at 10th Floor, Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai - 400025.
Motilal Oswal Asset Management Company Ltd. has been appointed as the Investment Manager to Motilal Oswal Mutual Fund by the Trustee vide Investment Management Agreement (IMA) dated May 21, 2009, executed between Motilal Oswal Trustee Company Ltd. and Motilal Oswal Asset Management Company Ltd.
MOSt Focused Dynamic Equity - Direct Plan – Annually Dividend - 11.1145MOSt Focused Dynamic Equity - Direct Plan – Quarterly Dividend - 11.1145MOSt Focused Dynamic Equity - Regular Plan – Annually Dividend - 11.017MOSt Focused Dynamic Equity - Regular Plan – Quarterly Dividend - 11.017MOSt Focused 25 Fund- Direct Plan (D) - 17.3505MOSt Focused 25 Fund- Direct Plan (G) - 20.6187MOSt Focused 25 Fund-(D) - 16.3026MOSt Focused 25 Fund-(G) - 19.4679MOSt Focused Long Term (D) - 15.1191MOSt Focused Long Term (G) - 15.6539MOSt Focused Long Term- Direct Plan(D) - 15.6506MOSt Focused Long Term- Direct Plan(G) - 16.1867MOSt Focused Midcap 30- Direct Plan(D) - 22.324MOSt Focused Midcap 30- Direct Plan(G) - 25.3979MOSt Focused Midcap 30(D) - 21.3872MOSt Focused Midcap 30(G) - 24.4013MOSt Focused Multicap 35- Direct Plan(D) - 24.3439MOSt Focused Multicap 35- Direct Plan(G) - 24.3439MOSt Focused Multicap 35(D) - 23.6166MOSt Focused Multicap 35(G) - 23.6166MOSt Ultra Short Term Bond Fund-Direct Plan-Fortnightly Dividend Option - 10.0204MOSt Ultra Short Term Bond Fund-Direct Plan-Monthly Dividend Option - 10.0387MOSt Ultra Short Term Bond Fund-Direct Plan-Quarterly Dividend Option - 10.1111MOSt Ultra Short Term Bond Fund-Direct Plan-Weekly Dividend Option - 10.012MOSt Ultra Short Term Bond Fund-Regular Plan-Fortnightly Dividend Option - 10.019MOSt Ultra Short Term Bond Fund-Direct Plan- Growth - 13.0812MOSt Ultra Short Term Bond Fund-Direct Plan-Daily Dividend Option - 10MOSt Ultra Short Term Bond Fund-Regular Plan- Growth - 12.8005MOSt Ultra Short Term Bond Fund-Regular Plan-Daily Dividend Option - 10.0087MOSt Ultra Short Term Bond Fund-Regular Plan-Monthly Dividend Payout - 10.0362MOSt Ultra Short Term Bond Fund-Regular Plan-Quarterly Dividend Payout - 10.1079MOSt Ultra Short Term Bond Fund-Regular Plan-Weekly Dividend Option - 10.0126Motilal Oswal Most Focused Dyn Eq Fund (G) - 11.017Motilal Oswal Most Focused Dyn Eq Fund-Dir (G) - 11.1145

Fund Manager’s Speak

About us Fund Manager’s Speak

Mr. Gautam Sinha Roy - Fund Manager, MF

Mr. Gautam Sinha Roy

As a growth-oriented investor in Indian equities, we face a set of unique situations currently:

  • On one hand India is widely expected to be one of the fastest growing countries globally in the next 2-3 years. On the other hand the reported earnings of India Inc has been de-growing in the last half of 2015.

Reported inflation numbers have come down drastically (the latest reported WPI print was negative). (Source: Govt. of India, Ministry of Commerce). However, the interest rate trajectory is yet to nose-dive.

  • Meanwhile the index and prices of most stocks continue to march upwards. In the absence of any earnings growth acceleration, this implies that valuations for many stocks are sky-rocketing. This leads to the obvious question- “ is this yet another hope rally”?

Given this environment, how do we position ourselves as investors and how do we manage the over-valuation risk?

I believe that there are a few factors which we as investors are leveraging on to manage our portfolios in this market environment:

  • While earnings growth has not happened yet, we believe that the factors leading to growth acceleration are falling in place as we speak- lower crude prices, coal reforms being actioned, mending fiscal, policy front seeing long awaited movement etc. Hence, this is a case of postponement of earnings only- they should eventually come.
  • The rate cycle has begun its downward trajectory- and this is likely to build-up as the year progresses.
  • We continue to focus on high Quality stocks irrespective of the broader markets. These are essentially businesses which have extremely strong economic moats which means that the Longevity of quality and growth is pretty high. And these are the parameters (QGLP) on which we keep re-evaluating our stocks to test whether current valuations are appropriate, and act accordingly.
  • Also, we keep looking out for ideas which fit the bill on our evaluation framework. The Indian packaged food market is growing at robust 15%+ compounded rate, within which the $6Bn Biscuits market is very well positioned to premiumize aggressively. Within this, we have been on the lookout for (a) an extremely strong management team which is emphasizing on profitably enhancement and growth, (b) a well entrenched food brand in India, which is finally being utilized and (c) benign outlook for raw material inflation which should aid margins. And all this available at a PER in line with the consumer sector for a sector beating RoE as well as earnings growth expectation.

Mutual fund investments are subject to market risks, read all scheme related documents carefully.

KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc), you need not undergo the same process again when you approach another intermediary