About Company
Helios Capital Asset Management (India) Pvt. Ltd
Helios -In Greek mythology, Helios is the God of Sun – the brightest star in the sky that has been universally worshipped as the natural source of light, energy, warmth, and nutrition on Earth since the start of time. According to mythology, Helios rode his chariot across the sky from east to west every day pulling the sun, and each night he rode back to the east, to diligently start again next morning. In addition, according to Hometic poems, Helios is described as the God who sees and hears everything and had an ethical and prophetic nature. Helios Capital is inspired by “Helios” for he has all the qualities one would seek in a good fund manager: strong purpose carried out with diligence, ability to see everything from his vantage point and an ethical and prophetic nature. Helios India is licensed by Securities & Exchange Board of India to offer Portfolio Management Services (PMS). Their flagship investment product is the Helios India Rising Portfolio.Singapore based Helios Capital Management Pte. Ltd. (“Helios”), holding a Capital Markets Services License from the Monetary Authority of Singapore, and registered as a Foreign Portfolio Investor with the Securities and Exchange Board of India. Helios, founded in 2005, currently manages both India focused long/short and long only funds/mandates and a globally focused long only fund. Founders of Helios (Dave Williams, Karan Trehan, and Samir Arora) have senior asset management experience and were pioneers in Indian asset management industry jointly setting up one of India’s first private sector AMCs in 1994 (in their prior roles). Additionally, Samir Arora has one of the longest track records (26+ years on the long side) in the Indian fund management business. He is also one of the most experienced India fund managers on the short side with a 15+ year track record.
What Is Helios India Emerging Star Portfolio PMS?
Helios India Emerging Star Portfolio is a long-biased mid- and small-cap equity Portfolio Management Service (PMS) from Helios Capital Asset Management (India) that uses Helios's Elimination Investing Framework to filter out weak companies and back potential future sector leaders. Launched on 18 March 2026 and managed by Dinshaw Irani, it is benchmarked to the BSE 500 TRI, requires a minimum investment of ₹50 lakh, has no exit load and managed ₹24.52 crore as of 31 August 2026.
It is sector-agnostic and can also invest in companies going through special situations or a weak phase of their business cycle. With under a year of history, it has no long-term track record yet.
Helios India Emerging Star Portfolio Snapshot
| Particular | Details |
|---|---|
| PMS Provider | Helios Capital Asset Management (India) Pvt. Ltd. |
| Strategy | Equity – long-biased mid and small cap |
| Fund Manager | Dinshaw Irani |
| Inception | 18 March 2026 |
| Benchmark | BSE 500 TRI |
| Minimum Investment | ₹50 lakh |
| AUM | ₹24.52 crore (31 August 2026, APMI) |
| Fixed Fee Option | 2.5% |
| Variable Fee Option | 1.5% + 15% of profits above a 10% hurdle |
| Exit Load | Nil |
| Investment Framework | Helios Elimination Investing Framework |
| 1-Month Turnover | 0.84x (31 August 2026) |
Helios India Emerging Star Portfolio Performance
Helios India Emerging Star Portfolio returned 31.22% since inception to 31 August 2026, against 8.54% for the BSE 500 TRI, as reported to APMI. These are absolute returns over about five and a half months, too short to judge the strategy.
| Period | Helios India Emerging Star Portfolio | BSE 500 TRI | Difference |
|---|---|---|---|
| 1 Month | 5.84% | -0.09% | +5.93 pp |
| 3 Months | 11.13% | 3.86% | +7.27 pp |
| 6 Months and longer | NA | NA | – |
| Since Inception (18 Mar 2026) | 31.22% | 8.54% | +22.68 pp |
As on 31 August 2026. Source: APMI. Absolute TWRR returns. The strategy has no 6-month, 1-year or longer record yet, and returns from other Helios strategies should not be used in its place. Past performance does not indicate future returns. Compare strategies on ALTPORT's PMS performance page.
Helios Emerging Star Mid and Small-Cap Investment Strategy
Helios India Emerging Star Portfolio invests mainly in mid- and small-cap Indian companies that could become sector or market leaders or future disruptors, holding long positions across any sector.
- Mid caps: companies beyond the large-cap segment but not at the smallest end of the market.
- Small caps: smaller listed businesses with room to grow.
- Long-biased: it makes money mainly by owning stocks, not by shorting them.
- Sector-agnostic: no restriction to particular industries.
- Bottom-up: each company is researched individually.
It can invest up to 100% in listed equities and use liquid, money-market and short-term mutual funds or liquid ETFs for cash management and money awaiting investment. Because the strategy began in March 2026, its portfolio is still being built.
How the Helios Elimination Investing Framework Works
The Helios Elimination Investing Framework narrows the large mid- and small-cap universe by first removing companies with weak governance, poor cash conversion, low earnings quality or unscalable business economics, then researching what remains in depth.
The filter produces a shortlist of structurally sound companies, which the team then examines for:
- Potential to become market or sector leaders
- A strong or upcoming business line
- Effective management and improving margins
- Business cyclicality and special situations
- Possible market mispricing, where the price does not yet reflect the company's progress
Passing the filter does not guarantee a place in the portfolio; final decisions rest on company research, valuation and portfolio construction.
How Helios Selects Mid- and Small-Cap Companies
Helios India Emerging Star Portfolio picks smaller companies that are fundamentally strong and could grow into market leaders, judging each on opportunity, competitive position, management, operating improvement, special situations and valuation.
Business opportunity: whether the addressable market supports further growth.
Competitive position: whether the company can build or defend its position.
Management: whether leadership quality supports the investment case.
Operating improvement: whether margins and business metrics are rising.
Special situations: whether a change could reshape earnings or valuation.
Valuation: whether the price fairly reflects prospects and risks.
Portfolio Construction and Risk Management
Helios India Emerging Star Portfolio holds a diversified basket of mid- and small-cap stocks, sizing positions to account for each stock's liquidity, quality, valuation, sector exposure and correlation with other holdings. Cash instruments can be used for defensive positioning or money awaiting investment. APMI reported 0.84x turnover for August 2026; as a new strategy, its construction and turnover may change.
Helios Emerging Star Minimum Investment, Fees and Exit Load
The minimum investment in Helios India Emerging Star Portfolio is ₹50 lakh. Investors choose a fixed fee of 2.5% a year, or a variable plan of 1.5% plus 15% of profits above a 10% hurdle. There is no exit load. The hurdle is a fee threshold, not a return target. Confirm the fee calculation, taxes and other charges in the PMS agreement.
Who Should Invest in Helios India Emerging Star Portfolio?
Helios India Emerging Star Portfolio suits investors with at least ₹50 lakh, a high tolerance for mid- and small-cap volatility and a horizon of three to five years or more, who are comfortable backing a new strategy without a long track record. Investors comparing options can browse the best PMS in India.
Meet the Fund Manager: Dinshaw Irani
Dinshaw Irani manages Helios India Emerging Star Portfolio. He has 28 years of investment experience, including over 14 years at Artemis Advisors, Helios Singapore's research adviser, and earlier set up Sharekhan's PMS business. Helios founder and group CIO Samir Arora leads the wider investment team.
Helios India Emerging Star Portfolio Risks
The main risks of Helios India Emerging Star Portfolio are mid- and small-cap volatility, liquidity, valuation, business, concentration, new-fund and capital-loss risk.
Mid- and small-cap volatility: Smaller companies can swing sharply with market sentiment.
Liquidity risk: Thinly traded stocks can be hard or costly to exit in stressed markets.
Valuation risk: A growing company can still disappoint if expectations change.
Business risk: Smaller firms are more exposed to competition, customer concentration, financing, regulation and execution problems.
Concentration risk: Large or correlated holdings can drive results.
New-fund risk: Launched in March 2026, the strategy has not been tested through a market cycle.
Capital-loss risk: This is an equity PMS with no capital protection or guaranteed return.
Helios Emerging Star vs Other Helios Strategies
Helios India Emerging Star Portfolio focuses on mid and small caps and started in March 2026, while Helios India Rising Portfolio is an older multi-cap PMS running since 16 March 2020. Helios also offers the Helios India Liquid Portfolio for cash management and the Helios India Long Short Fund AIF. Investors can also explore ALTPORT's small-cap PMS options or speak to an ALTPORT advisor.
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Track how the fund has performed against its benchmark over time through a comparative line graph analysis.
Helios India Emerging Star Portfolio
Benchmark: BSE 500 TRI
Compare fund returns and benchmark performance across multiple investment periods using a visual bar graph.
Review and compare fund returns against benchmark performance across different investment periods in a detailed tabular format.
Helios Capital Asset Management (India) Pvt. Ltd
| AUM(Cr.) | 1M | 3M | 6M | 1Y | 2Y | 3Y | 4Y | 5Y | Ince. | |
| Performance | ₹24.52 | 5.84 | 11.13 | NA | NA | NA | NA | NA | NA | 31.22 |
| Benchmark | NA | -0.09 | 3.86 | NA | NA | NA | NA | NA | NA | 8.54 |
Learn about the experienced fund managers responsible for investment decisions, portfolio strategy, and long-term fund performance.
Dinshaw Irani
Helios India’s Chief Investment Officer is Dinshaw Irani. He spent more than 14 years as the Executive Director of Artemis Advisors, Helios Singapore’s exclusive research advisors, before then. Dinshaw oversaw all aspects of the research project as the CEO of Artemis Advisors, from idea generation and industry outlook to final recommendation. He established Sharekhan’s portfolio management services division while serving as their principal portfolio manager from 2003 to 2004 before joining Artemis in 2005. Prior to working at Sharekhan, Dinshaw spent more than three years as a vice president on the consumer and pharmaceutical industries’ Asian Emerging Markets team for Alliance Capital in Mumbai. Prior to Alliance, Dinshaw had positions at Lloyd Securities and Sun F&C Mutual Fund. Dinshaw likes exploring new locations so he may spend time outside in nature preserves and on hiking trails. Dinshaw possesses a post-graduate diploma in rural management from the Institute of Rural Management, Anand, and a degree in commerce with honours. Dinshaw has 28 years of combined investment experience.
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Find answers to common questions about fund investments, performance, portfolio strategy, and investor services.
Helios India Emerging Star Portfolio is a long-biased mid- and small-cap equity PMS from Helios Capital that uses the Helios Elimination Investing Framework to pick potential future sector leaders.
Yes. Helios India Emerging Star Portfolio is an equity PMS from Helios Capital Asset Management (India).
Yes. Helios India Emerging Star Portfolio focuses on mid- and small-cap companies across all sectors.
The Helios Elimination Investing Framework removes companies with weak governance, poor cash conversion or low earnings quality first, then researches the remaining companies for leadership potential and valuation.
Helios India Emerging Star Portfolio returned 31.22% since inception (18 March 2026) to 31 August 2026, against 8.54% for the BSE 500 TRI, as reported to APMI. These are absolute returns over under six months.
Helios India Emerging Star Portfolio was launched on 18 March 2026.
Helios India Emerging Star Portfolio is benchmarked to the BSE 500 TRI.
The minimum investment in Helios India Emerging Star Portfolio is ₹50 lakh.
Dinshaw Irani manages Helios India Emerging Star Portfolio.
Helios India Emerging Star Portfolio charges either a 2.5% fixed fee, or 1.5% plus 15% of profits above a 10% hurdle, with no exit load.
Helios India Emerging Star Portfolio managed ₹24.52 crore as of 31 August 2026, as reported to APMI.
Helios India Emerging Star Portfolio focuses on mid and small caps and began in March 2026, while Helios India Rising Portfolio is a multi-cap PMS running since March 2020.
The main risks of Helios India Emerging Star Portfolio are mid- and small-cap volatility, liquidity, valuation, business and concentration risk, and a very short track record.
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