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.
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Motilal Oswal Dynamic Fund (Div-A) - 11.839Motilal Oswal Dynamic Fund (Div-Q) - 11.6771Motilal Oswal Dynamic Fund (G) - 12.5859Motilal Oswal Dynamic Fund-Dir (Div-A) - 12.3054Motilal Oswal Dynamic Fund-Dir (Div-Q) - 11.8565Motilal Oswal Dynamic Fund-Dir (G) - 12.9963Motilal Oswal Equity Hybrid Fund - Direct (G) - 11.0068Motilal Oswal Equity Hybrid Fund - Regular (G) - 10.8409Motilal Oswal Focused 25 Fund - Direct (D) - 17.786Motilal Oswal Focused 25 Fund - Direct (G) - 24.1457Motilal Oswal Focused 25 Fund (D) - 16.0432Motilal Oswal Focused 25 Fund (G) - 22.1359Motilal Oswal Liquid Fund - Direct (Div-D) RI - 10.0077Motilal Oswal Liquid Fund - Direct (Div-F) RI - 10.0135Motilal Oswal Liquid Fund - Direct (Div-M) - 10.0589Motilal Oswal Liquid Fund - Direct (Div-Q) - 10.1278Motilal Oswal Liquid Fund - Direct (Div-W) RI - 10.0058Motilal Oswal Liquid Fund - Direct (G) - 10.4434Motilal Oswal Liquid Fund - Regular (Div-D) RI - 10.0055Motilal Oswal Liquid Fund - Regular (Div-F) RI - 10.0131Motilal Oswal Liquid Fund - Regular (Div-M) - 10.058Motilal Oswal Liquid Fund - Regular (Div-Q) - 10.1128Motilal Oswal Liquid Fund - Regular (Div-W) RI - 10.013Motilal Oswal Liquid Fund - Regular (G) - 10.4316Motilal Oswal Long Term Equity Fund (D) - 15.3822Motilal Oswal Long Term Equity Fund (G) - 17.3599Motilal Oswal Long Term Equity Fund -Dir (D) - 16.4704Motilal Oswal Long Term Equity Fund -Dir (G) - 18.4914Motilal Oswal Midcap 30 Fund (D) - 18.1836Motilal Oswal Midcap 30 Fund (G) - 25.3993Motilal Oswal Midcap 30 Fund-Dir (D) - 19.8036Motilal Oswal Midcap 30 Fund-Dir (G) - 27.2257Motilal Oswal Multicap 35 Fund (D) - 22.7694Motilal Oswal Multicap 35 Fund (G) - 25.8445Motilal Oswal Multicap 35 Fund-Dir(D) - 24.1042Motilal Oswal Multicap 35 Fund-Dir(G) - 27.2133Motilal Oswal Nasdaq 100 FOF - Direct (G) - 11.8567Motilal Oswal Nasdaq 100 FOF - Regular (G) - 11.8184Motilal Oswal Nifty 500 Fund - Direct (G) - 10.3354Motilal Oswal Nifty 500 Fund (G) - 10.3327Motilal Oswal Nifty Bank Index Fund - Direct (G) - 10.5946Motilal Oswal Nifty Bank Index Fund (G) - 10.5917Motilal Oswal Nifty Midcap 150 Index Fund (G) - 10.4321Motilal Oswal Nifty Midcap 150 Index Fund-Dir (G) - 10.4349Motilal Oswal Nifty Smallcap 250 Index Fund (G) - 10.3473Motilal Oswal Nifty Smallcap 250 Index Fund-Dir(G) - 10.3501Motilal Oswal Ultra Short Term Fund - Dir (Div-D) - 9.2243Motilal Oswal Ultra Short Term Fund - Dir (Div-F) - 9.2416Motilal Oswal Ultra Short Term Fund - Dir (Div-M) - 9.2309Motilal Oswal Ultra Short Term Fund - Dir (Div-Q) - 9.3636Motilal Oswal Ultra Short Term Fund - Dir (Div-W) - 9.2346Motilal Oswal Ultra Short Term Fund - Dir (G) - 13.0702Motilal Oswal Ultra Short Term Fund (Div-D) - 9.2277Motilal Oswal Ultra Short Term Fund (Div-F) - 9.2373Motilal Oswal Ultra Short Term Fund (Div-M) - 9.2281Motilal Oswal Ultra Short Term Fund (Div-Q) - 9.3623Motilal Oswal Ultra Short Term Fund (Div-W) - 9.231Motilal Oswal Ultra Short Term Fund (G) - 12.7096

Let performance be a by-product

Blog Blog Details
  • October 18, 2017
  • Mr. Siddharth Bothra|
  • Fund Manager, MF

What is the investment strategy of your fund? (Including internal rules on investment universe, capitalisation orientation and maximum cash allocation)

The investment objective of Motilal Oswal F25 Large Cap fund is to achieve long term capital appreciation by investing in up to 25 companies with long term sustainable competitive advantage and growth potential. We believe in focused, concentrated and bottom up investing. Consequently, we have only 19 stocks in our portfolio, with the top five and top ten stocks accounting for ~45% and 70% of the fund respectively in terms of weight. Furthermore, we are bottom up investors and do not believe in index hugging, as such almost ~65% of our portfolio in term of weightage is away from the benchmark.
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The investment universe for F25 is 1) minimum of 65% or maximum of 100% in Top 100 listed companies in NSE in terms of market capitalization and 2) maximum of 25% in stocks which are within the top 101-150 in terms of market capitalization, there is a provision for cash holding of up to a maximum of 10%. We do not take cash calls and hence typically our cash holdings is in the range of 1-2% of the portfolio.


What are the essential attributes for the stocks to be in your portfolio?

In order to generate long term sustainable wealth for our investors, we apply our QGLP (Quality, Growth, Longevity and Price) process, which effectively captures the key attributes we are looking for in stocks. These are 1) Quality Business and Management: Business (Moated business, healthy return ratios, favourable industry structure, industry leadership, low leverage) and Quality management (honesty, competence, rational capital allocation, growth mind set, shareholder friendly); 2) Growth: high intrinsic & profitable growth, large opportunity size, multiple growth levers, gaining market share; 3) Longevity: Extended competitive advantage and growth visibility and 4) Price: available at a discount to perceived value. We have an internal check list which effectively helps us in evaluating a company.


What kind of stocks never enter your portfolio?

I would say any company, which we feel do not meet our QGLP process would not enter our portfolio. Nonetheless, the reason our QGLP investment process has Q , which stands for quality of business and quality of management, right in front is that we give it maximum importance. Hence, I could say we are most sensitive about evaluating the quality business and quality of management in a company.

What will you attribute the relatively consistent performance of your fund in recent years?

I would attribute our consistent performance to our philosophy and process. Most of the fatal mistakes in the market are made when one tries to chase performance. Our philosophy allows us to remain focused on fine tuning and enhancing our process at all times and let performance be a by-product.
Any tactical miss you regret (not having, or not having enough or holding something) in your portfolio?
Frankly like any other investor there have been quite a few misses which I have had, whether it be in terms of identifying a stock, implementing (buying) or allocating (weightage). If I were to name one in recent times it would be Bajaj Finserv.

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