About Aequitas Investments
Aequitas Investments is an investment management platform focused on listed-equity strategies across India and international markets. The firm operates across Portfolio Management Services (PMS), Alternative Investment Funds (AIFs) and GIFT City investment structures, providing investors with access to different equity strategies and market exposures.
Aequitas' investment approach has been shaped by a focus on fundamental research, valuation discipline and long-term investing. The firm's investment activities include domestic listed Indian equities as well as international equity strategies focused on markets such as China and the broader Far East.
Aequitas Investment Consultancy was founded by Siddhartha Bhaiya, whose investment experience and philosophy have influenced the firm's approach to identifying businesses with long-term value-creation potential.
Today, Aequitas' product range spans domestic PMS and AIF strategies, India-focused GIFT City structures and international equity strategies. The exact investment universe, investor eligibility, liquidity and commercial terms vary by product.
Aequitas Investment Philosophy: Growth, Value and Contrarian Investing
Aequitas follows a Growth + Value + Contrarian investment philosophy across its equity-oriented strategies.
The approach seeks to identify businesses where long-term fundamentals, valuation and market expectations may create an attractive investment opportunity. Rather than relying only on historical performance or short-term market momentum, the investment process focuses on understanding the underlying business and its potential over a multi-year period.
The firm's Multibagger approach is centred on identifying companies that may have the potential to compound value significantly over time. This does not imply that any particular investment will generate a multibagger return.
Key elements of the philosophy include:
- Growth: Identifying businesses with potential for sustainable earnings and cash-flow growth.
- Value: Assessing whether a company's valuation provides an adequate margin of safety relative to its fundamentals.
- Contrarian investing: Researching businesses that may be out of favour or overlooked by the broader market.
- Bottom-up research: Evaluating individual companies rather than relying primarily on broad market or sector calls.
- Long-term orientation: Building investment theses around a multi-year horizon.
- Valuation discipline: Considering the price paid alongside business quality and future growth potential.
The approach is designed to combine business quality with valuation discipline, while recognising that equity investments remain subject to market and company-specific risks.
Aequitas Investments Products: PMS, AIF and GIFT City Funds
Aequitas' investment platform covers multiple structures and market exposures. The products differ in their investment universe, investor eligibility, regulatory structure and liquidity terms.
| Product | Structure | Primary Exposure | Investor / Market Focus |
| Aequitas India Opportunities Product | PMS | Indian listed equities | Domestic investors |
| Aequitas Equity Scheme 1 | AIF | Indian listed equities | Domestic alternative-investment investors |
| Aequitas India Trust | GIFT City AIF | Indian equities | Eligible investors through GIFT City |
| Aequitas Far East Trust | GIFT City AIF | China & Far East equities | Resident Indian investors |
| Aequitas Far East International Trust | GIFT City / IFSC AIF | China & Far East equities | NRIs and eligible international investors |
Each product operates under its respective structure and documentation. Investors should review the latest applicable fund documents for minimum investment, fees, eligibility, liquidity, portfolio composition and other terms.
How Aequitas Researches and Selects Companies
Aequitas' investment process is based on in-house equity research and bottom-up company analysis.
The research process considers several characteristics of a business, including:
Business Quality
The investment team evaluates the company's competitive position, industry leadership, management quality and ability to generate sustainable cash flows.
Balance Sheet and Cash Flow
Financial strength is an important consideration. The research process can include assessment of debt levels, cash generation and the quality of earnings.
Valuation
A strong business may not necessarily represent an attractive investment at every price. Aequitas' approach therefore incorporates valuation analysis and seeks opportunities where the market price may not fully reflect the company's underlying potential.
Primary Research
The investment process places emphasis on understanding companies at a fundamental level. This can include analysis of industry structure, management, financial statements, competitive positioning and potential business catalysts.
Corporate Actions and Re-rating Opportunities
Where relevant, the research process may consider factors such as share buybacks, creeping acquisitions and other developments that could influence ownership structures, capital allocation or market valuation.
The overall objective is to develop a clear investment thesis rather than make decisions solely on short-term price movements.
Aequitas Investments Team
Aequitas' investment activities are supported by professionals with experience across equity research, portfolio management and investment management.
Siddhartha Bhaiya is the founder associated with Aequitas Investments and has played a central role in shaping the firm's investment philosophy.
For detailed information on the investment team's professional backgrounds and responsibilities, investors can refer to the respective fund-manager profiles.
Fund Manager: Siddhartha Bhaiya
Investment focus: Fundamental research, listed equities and long-term investment strategies.
Key Risks Across Aequitas Equity Strategies
Aequitas Investments' equity strategies are exposed to the risks normally associated with investments in listed securities. The level and nature of these risks vary across individual products.
Equity-market risk: Stock prices can decline because of economic conditions, interest rates, market sentiment or company-specific developments.
Concentration risk: Strategies holding a relatively concentrated portfolio may experience greater impact from individual stocks or sectors.
Valuation risk: A company's share price may remain below the investment thesis or fail to re-rate as expected.
Small-cap and liquidity risk: Strategies with exposure to smaller companies can face greater price volatility and lower market liquidity.
Business and earnings risk: Changes in competition, management, industry conditions or earnings can affect investment outcomes.
International and currency risk: International strategies may be affected by foreign-market conditions, regulatory developments, geopolitical events and currency movements.
Investments therefore remain subject to market conditions and the specific risks outlined in the relevant product documentation.
Manage By : Aequitas Investments
