Portfolio Management Services - Religare

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					Portfolio Management Services

Religare Securities Limited
(A RANBAXY Promoter Group Company)

Our Parentage
A Ranbaxy promoter group company

India’s largest Pharmaceutical company Turnover US $1.17 Billion Market Cap US$4.5 Billion

Religare Securities
Religare was founded in 1996 by late Dr. Parvinder Singh (CMD – Ranbaxy Laboratories Limited) with the vision to provide integrated financial care driven by the relationship of trust and confidence. Religare aims to be India’s first truly multinational company to provide financial services across the globe. Religare has an extensive network of over 180 branches and 350 business associates through its regional, zonal and branch offices served by 2200 employees.

Services Offered
Providing Integrated Financial Services

Corporate Services

Wealth Management

Retail Services

PMS Investment Banking Mutual Funds Private Equity Depository Services Equity Broking

Equity – PCG
Corporate Finance Insurance Commodities

Advantage PMS
Customised Portfolio Transparency

Benefit from tactical cash management
High level of client interaction Cost efficient

Hassle free operation
Diversification across or within the asset class SEBI regulated

Investment Philosophy
Mix of Top Down and Bottom Up Stock specific selection procedure based on fundamental research for making sound investment decisions

Focus on minimizing investment risk by following rigorous valuation disciplines
Effort is to enhance absolute returns for investors. Belief in serving investors by a disciplined investment approach – which combines an understanding of the goals and objectives of the investor with a fine tuned strategy backed by research Capital Preservation Selling discipline and use of derivatives for volatility

Investment Process






Investment Process
Reviewing publicly available historical information. Management meetings to get a better understanding of industry trends, structure and peculiarities related to the industry. Preparing forecasted earnings model based on assumptions.

Review meeting with the company management to validate the assumptions.
Accessing the competitive advantage the company enjoys vis-à-vis buyers, suppliers, substitutes, barriers to entry. Evaluate management capabilities and corporate governance standards. Using multiple valuation process for valuing the company which includes relative valuations (P/E,PEG, P/BV etc.), determining intrinsic value based on DCF and sum of parts valuation. Arranging periodic review meeting with the management to revalidate the underlying assumptions. We follow strict selling discipline both in booking profits as well as cutting losses in case the underlying premise of buying into a particular stock has changed.

Religare Edge
Investment team consisting of fund managers and headed by CIO which ensures collective decision making. More than 40 man years of cumulative work experience in capital markets. Institutional research team comprising of 18 professionals having an experience ranging from 2-10 years. Benefit from a network of empanelled brokers and analysts from a wide spectrum of broking outfits. Capabilities to identify emerging businesses at a nascent stage backed by primary research.

Product Offerings



Aims to achieve higher returns by taking aggressive positions across sectors and market capitalisation

Investment strategy would be to invest across the sectors with a view to take advantage of various market conditions. Efforts would be made to find out stocks which have triggers to become multi-baggers in the market backed by a turn-around, or new product introduction, idea marketing, unveiling of valuation and recognition of stock in the market .

High risk high return

Investment Horizon
1-2 years

Portfolio Turnover

Aims to achieve gradual growth in the portfolio value over a period of time by way of careful and judicious investment in fundamentally strong and attractive valued shares.

Investment strategy would be to invest across the sectors with a view to take advantage of lower valuation of the companies with high growth potential and consistent track record over a longer period of time.

Medium Risk Medium Return

Investment Horizon
2 to 3 years

Portfolio Turnover

Aims to generate steady return over a longer period by investing in securities selected only from BSE 100 index.

Investment strategy would be to invest in the companies which form part of BSE 100 Index as these companies have steady performance and reduces the liquidity risk in the market.

Low Risk Low Return

Investment Horizon
3 to 4 years

Portfolio Turnover

Portfolio Disclosure
Access thru Web: - Clients can see the portfolio details on web 24*365
Valuation Report Holdings Statement Transaction Report Gain/Loss Report Corporate Action

Monthly Report:
Containing all the details about the portfolio and a monthly news letter on Markets, stock idea and investment wisdom

Annual Audited Balance Sheet

Investment Details
Minimum Investment Amount:
- Resident Investors - Non Resident Investors – – Rs. 25 Lacs Rs. 50 Lacs

Mode of Inflow:
Inflow can be in the form of cash and/or securities

Fee Structure
Option I: Fixed Fee
2% of Daily Average Asset Value

Brokerage 25 bps (Resident Accounts)

Option II: Profit Sharing
Administrative Charges 0.75% of Investment Amount 0-12% Returns > 12%-18% Returns > 18%-24% Returns > 24% Returns Brokerage Nil

- 10% of Total Profit - 15% of Total Profit - 20% OF Total Profit

Risk Factors
Investments in securities are subject to market risks, which include price fluctuation risks. There is no assurance or guarantee that the objectives of any of the schemes will be achieved. The investments may not be suited to all categories of investors. The names of the scheme do not in any manner indicate their prospects or returns. The performance in the equity schemes may be adversely affected by the performance of individual companies, changes in the market place and industry specific and macro economic factors. The debt investments and other fixed income securities may be subject to interest rate risk, liquidity risk, credit risk and reinvestment risk. Liquidity in these investments may be affected by trading volumes, settlement periods and transfer procedures. Technology stocks and some of the investments in niche sectors run on the risk of volatility, high valuation, obsolescence and low liquidity. The scheme may use derivatives instruments like index futures, stock futures and options contracts, warrants, convertible securities, swap agreements or any other derivative instruments for the purpose of hedging and portfolio balancing, as permitted under the regulations and guidelines. The use of a derivative requires and understanding not only of underlying instruments but of the derivative itself. Derivatives require the maintenance of adequate controls to monitor the transactions entered into, the ability to assess the risk that a derivative adds to the portfolio and the ability to forecast price or interest rate movement correctly. Scheme using derivate/futures and options products (if any) are affected by risks different from those associated with stock and bonds. Such products and highly leverage instruments and their use requires a high degree of skill, diligence and expertise. Small price movements in the underlying security may have a large impact on the value of derivatives/futures and options. Some of risks relate to mis-pricing or improper valuation of derivatives/futures and options and inability to correlate the positions with underlying assets, rates and indices. Also the derivates/futures and options market is nascent in India.

In the case of stock lending, risks relate to the default from counter parties with regard to security length and the corporate benefits accruing thereon, inadequacy of collateral and settlement risks. The portfolio manager is not responsible or liable for any loss resulting from the operations of the schemes.
The performance of the schemes may be affected by changes in government policies, general levels of interest rates and risks associated with trading volumes liquidity and settlement systems in equity and debt markets. The scheme may invest in non-publicly offered debt securities and unlisted equities. The may expose the scheme to liquidity risks. Engaging in securities lending is subject to risks related to fluctuations in collateral value/settlement/liquidity/counter party. Consult your financial advisor before investing.

Religare Securities Limited
A RANBAXY Promoter Group Company

DELHI 19, Nehru Place, Connaught Circus, New Delhi – 110 019 Phone: +91-11-55562200 Fax: +91-11-51516301

MUMBAI 14, Mittal Chambers, Nariman Point, Mumbai - - 400 021 Phone: +91-22-4007 4800 Fax: +91-22-4007 4869

KOLKATA 1 & 2, Old Court House Corner, Tobacco House, 5th Floor, Room No. 506, Kolkata – 700 001 Phone: +91-33-22135057/61-62 Fax: +91-33-22135058

CHENNAI No. 715-A, 7th Floor, 2nd Phase, Spencer Plaza, 769, Annasalai, Chennai – 600 002 Phone: +91-44-52037217-18 Fax: +91-44-52040334

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