So, zero alpha is a cost reduction strategy, we like to pursue value rather than cost. Giving an undertaking that I want zero alpha is like going to war and giving away all your ammunition and saying I’m at peace. Choosing MFs which can outperform the Nifty from a futuristic perspective is our USP. We don’t do PMS (portfolio management services) for different reasons such as unfavourable profit share especially in bull markets, tax inefficiency and higher standard deviation. We don’t do direct equity because the standard deviations are as high as 30-35%. We recommend only mutual funds (MFs) for long-only positions to our clients because the standard deviations are low enough. What do you recommend under equity? What about international equity exposure? ![]() Our assets under management (and not under advice) are Rs. In this industry, assets under management is a very diluted nomenclature because there is no audited number. ![]() ![]() By balance sheet, we mean anything you don’t use (such as the house you live in) and something meant only for growth in value. We focus on clients with a balance sheet of Rs.
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