Sameeksha India Diversified Investment Strategy

The Sameeksha India Diversified Investment Strategy is a multi-asset investment approach managed by Sameeksha Capital Private Limited. The strategy seeks to generate superior risk-adjusted absolute returns by investing across multiple asset classes rather than relying exclusively on direct stock selection.

The latest APMI disclosure identifies the strategy with an equity classification and lists Equity, Mutual Fund and Others as the product universe. Its investment objective specifically allows the Portfolio Manager to invest across various asset classes, including direct mutual funds, exchange-traded funds (ETFs), listed securities and other permitted investments.

The strategy was launched on 18 November 2025, has a stated minimum investment of ₹50 lakh, and uses the BSE 500 TRI as its benchmark. APMI's latest available disclosure lists AUM of approximately ₹16.78 crore.

For investors exploring portfolio management services, this strategy is differentiated by its multi-asset mandate, fund-selection framework and flexibility to allocate capital across mutual funds, ETFs, listed securities and other permitted asset classes.

What Is the Sameeksha India Diversified Investment Strategy?

The Sameeksha India Diversified Investment Strategy is designed to generate superior risk-adjusted absolute returns by investing across various asset classes.

Unlike a conventional concentrated equity PMS, the strategy has a broader mandate.

The Portfolio Manager may primarily invest in:

• Direct equity mutual funds
• Exchange-traded funds (ETFs)
• Listed securities
• Other permitted investments

The strategy can also take exposure to additional asset classes, including commodities, where such investments are consistent with the investment objective and permitted under applicable regulations.

For efficient portfolio management and liquidity management, the strategy may allocate a portion of client money to:

• Money-market funds
• Liquid funds
• Bank accounts
• Short-term interest-bearing instruments

This gives the strategy greater flexibility in determining where capital should be deployed based on market conditions, valuations, liquidity and expected risk-adjusted returns.

It should not be confused with the more directly equity-focused Sameeksha India Equity Fund PMS.

Sameeksha India Diversified Investment Strategy Snapshot

*AUM is date-sensitive. The APMI page currently reports ₹16.78 crore. Investors should verify the latest disclosure before making an investment decision.

Multi-Asset Investment Strategy: Mutual Funds, ETFs and Listed Securities

The defining feature of the Sameeksha India Diversified Investment Strategy is its multi-asset investment mandate.

Rather than building the entire portfolio through individual stocks, the Portfolio Manager may use different investment vehicles to access market opportunities.

Direct Mutual Funds

The strategy may invest in direct mutual funds where the Portfolio Manager believes the fund provides an efficient way to access a particular market segment, asset class or investment theme.

This can allow the strategy to use the expertise and research infrastructure of external fund managers while retaining overall portfolio-allocation control.

Exchange-Traded Funds

ETFs can provide efficient exposure to specific indices, sectors, commodities or other eligible markets.

Their listed structure can also provide liquidity and transparency, subject to the characteristics of the underlying ETF.

Listed Securities

The strategy can invest in listed securities where appropriate and permissible.

This gives the Portfolio Manager flexibility to participate directly in market opportunities when direct exposure is considered more attractive than accessing the opportunity through a pooled fund.

Other Asset Classes

The mandate is not restricted exclusively to equities. The APMI disclosure specifically states that the Portfolio Manager may consider commodities and other asset classes when consistent with the objective of generating superior risk-adjusted returns.

This makes the strategy fundamentally different from a traditional concentrated Indian-equity PMS.

How Sameeksha Selects Mutual Funds and ETFs

Fund selection is an important component of a strategy that invests substantially through mutual funds and ETFs.

Instead of evaluating only the underlying stocks, the investment process needs to assess the quality of the investment vehicle and its portfolio manager.

Important considerations can include:

Valuation discipline

The Portfolio Manager can evaluate whether the underlying asset class or fund is reasonably valued relative to its expected return potential.

Fund-manager consistency

Where applicable, the investment team can examine the consistency of a fund manager's investment process, portfolio construction and historical decision-making.

Historical performance alone is not sufficient to determine future suitability.

Portfolio concentration

The strategy can assess how concentrated the underlying mutual fund or ETF is and whether its holdings create unintended overlap with other portfolio positions.

Expense ratios and costs

Costs can materially influence long-term investment outcomes. Expense ratios, transaction costs and other charges can therefore form part of the evaluation process.

Fund size and liquidity

The size of a mutual fund or ETF and the liquidity of its underlying holdings can be relevant considerations, particularly when evaluating the ability to enter or exit positions efficiently.

Risk-adjusted returns

The objective is not simply to identify the highest-returning fund.

The broader question is whether the expected return adequately compensates the investor for the risks involved.

This approach can help the Portfolio Manager construct a portfolio where asset selection and asset allocation work together.

About Sameeksha Capital Private Limited

Sameeksha Capital Private Limited is the portfolio-management entity associated with the Sameeksha India Diversified Investment Strategy.

The firm follows a research-led and process-driven investment philosophy, with portfolio decisions based on the assessment of opportunity, risk, valuation and expected returns.

Investors can learn more about the investment manager through the Sameeksha Capital page on ALTPORT.

The latest APMI disclosure identifies Sameeksha Capital Private Limited as the PMS provider and Bhavin Shah as the fund manager for the strategy.

Portfolio Concentration, Asset Allocation and Liquidity Management

Although the strategy is diversified across investment vehicles and asset classes, diversification does not necessarily mean equal allocation.

The latest APMI disclosure specifically states that the Portfolio Manager may maintain a relatively high degree of concentration in a particular category, an individual mutual fund or funds belonging to a single Asset Management Company, where such exposure is consistent with the investment framework and considered appropriate for achieving the strategy's objective.

This means the strategy can potentially make a high-conviction allocation when the Portfolio Manager believes the opportunity warrants it.

At the same time, the strategy has provisions for liquidity management.

Client money may be allocated to:

• Money-market funds
• Liquid funds
• Bank accounts
• Short-term interest-bearing instruments

These instruments can help manage liquidity and facilitate efficient portfolio management.

Investors should therefore understand that the strategy's diversification is active and decision-driven, rather than simply an equal-weighted allocation across asset classes.

Commodities and Other Permitted Asset Classes

The strategy has flexibility to consider commodities and other permitted asset classes when they are consistent with the investment objective.

This can potentially provide exposure beyond traditional Indian equity markets.

However, the ability to invest in an asset class does not mean that the portfolio will maintain a permanent allocation to that asset class.

Actual allocations can change depending on:

• Market valuations
• Expected returns
• Risk conditions
• Liquidity
• Portfolio requirements
• Investment opportunities
• Applicable regulations

Commodity exposure can also introduce additional risks, including price volatility, global-market sensitivity and changes in supply-demand conditions.

Sameeksha India Diversified Investment Strategy Performance

Because the strategy was launched only on 18 November 2025, its performance history is relatively short. APMI currently reports 1-month, 3-month and 6-month performance, while longer periods such as 1-year, 2-year, 3-year and 5-year returns are not yet available.

The latest APMI comparison currently reports:

*Benchmark figures should be checked against the latest APMI reporting table before publication.

APMI's current strategy page reports 6.44% since-inception performance, while the AUM is ₹16.78 crore.

Third-party analytics currently report different snapshots depending on their data-refresh dates. For example, EdgePnL's latest available data shows a 9-month history and should therefore not be mixed with APMI's current figures.

Because the strategy has a short operating history, investors should avoid extrapolating its early returns into long-term CAGR expectations.

Sameeksha Diversified Strategy Minimum Investment, Fees and Exit Terms

The current APMI disclosure lists the minimum investment for the strategy at ₹50 lakh.

APMI currently reports NA for:

• Fixed fee structure
• Variable fee structure
• Exit load

Therefore, no management fee, performance fee, hurdle rate or exit load should be published as a confirmed current term unless it is verified from the latest client agreement or official strategy documentation.

Prospective investors should confirm:

1. Minimum investment
2. Management fee
3. Performance fee, if applicable
4. Hurdle rate, if applicable
5. High-water-mark provisions, if applicable
6. Exit terms
7. Applicable taxes and expenses
8. Any custody or transaction-related costs

For the latest applicable terms, investors can request the latest PMS documents from ALTPORT.

Who Can Consider the Sameeksha India Diversified Investment Strategy?

The strategy may be relevant for investors who:

• Meet the applicable PMS investment requirements
• Can commit at least ₹50 lakh
• Prefer a multi-asset approach
• Want professionally managed exposure beyond individual-stock selection
• Understand mutual fund and ETF-related risks
• Have a suitable investment horizon
• Can tolerate market volatility
• Understand that allocations can change over time

It may be particularly relevant to HNIs, entrepreneurs, professionals, family offices and other eligible investors seeking a professionally managed diversified portfolio.

The strategy should be considered as part of an investor's overall asset allocation rather than evaluated solely on short-term returns.

For eligible non-resident investors, ALTPORT also provides information on PMS for NRIs.

Key Risks of the Sameeksha Diversified Investment Strategy

Market Risk

The strategy can have exposure to equity and other market-linked assets. Market declines can reduce portfolio value.

Fund-Selection Risk

Because the strategy may invest in mutual funds and ETFs, returns depend partly on the selection and performance of those underlying vehicles.

Concentration Risk

The APMI disclosure permits the Portfolio Manager to maintain relatively high concentration in a particular category, individual mutual fund or AMC.

This can increase the impact of an adverse outcome in a concentrated allocation.

AMC Concentration Risk

Exposure to multiple funds managed by the same AMC can create indirect concentration even when the portfolio appears diversified across different funds.

Asset-Allocation Risk

The Portfolio Manager's allocation decisions can materially influence performance. An asset class that underperforms after receiving a large allocation can negatively affect portfolio returns.

Commodity Risk

Commodity prices can be volatile and may be influenced by global economic conditions, supply-demand changes, currency movements and geopolitical developments.

Liquidity Risk

Although liquid funds and money-market instruments can support liquidity management, some underlying securities or investment vehicles may become less liquid during stressed markets.

Manager-Selection Risk

Investment outcomes depend on the Portfolio Manager's ability to select suitable funds, ETFs and securities and allocate capital effectively.

Short Track-Record Risk

The strategy began only in November 2025. Its limited live history means there is insufficient evidence to evaluate performance across multiple market cycles.

Capital-Loss Risk

There is no guarantee that the strategy will achieve its investment objective or preserve investor capital.

Sameeksha Diversified Strategy vs Sameeksha India Equity Fund PMS

The two Sameeksha strategies have materially different investment mandates.

The Sameeksha India Equity Fund PMS is primarily an Indian equity strategy focused on listed companies.

The Sameeksha India Diversified Investment Strategy, by contrast, has a broader multi-asset mandate and may invest in direct mutual funds, ETFs, listed securities, commodities and other permitted assets.

Investors should not compare the two strategies solely on headline returns because their mandates, investment universes and portfolio-construction frameworks are different.

Sameeksha Diversified Strategy vs Sameeksha Capital Investment Fund

The Sameeksha Capital Investment Fund is a separate Category III AIF.

The Sameeksha India Diversified Investment Strategy is a PMS/NDPMS strategy with a multi-asset mandate.

These products have different legal structures, documentation, liquidity arrangements, taxation and investment processes.

Investors should therefore evaluate each product independently rather than treating the strategies as interchangeable.

For a broader comparison of investment structures, see mutual funds vs PMS vs AIF.

Related Sameeksha Investment Strategy

Investors looking for an alternative Sameeksha equity-oriented strategy can also explore the Sameeksha India Flexicap Equity Fund.

That strategy should be evaluated independently because its investment structure, mandate and risk profile may differ from the diversified multi-asset strategy described on this page.

How to Invest in the Sameeksha Diversified Strategy through ALTPORT

Eligible investors interested in the Sameeksha India Diversified Investment Strategy can connect with ALTPORT to understand the current strategy, eligibility requirements and investment process.

The onboarding process generally includes:

1. Confirming investor eligibility
2. Reviewing the latest strategy documents
3. Understanding the NDPMS/PMS service structure
4. Completing KYC requirements
5. Reviewing the applicable agreement and mandate
6. Confirming minimum investment and applicable fees
7. Setting up the required account arrangements
8. Funding the portfolio according to the agreed process

Before investing, investors should review the latest official disclosures and client documentation.

For current documentation and terms, investors can request the latest PMS documents.