ABSL Global Bluechip Equity Fund (IFSC)

Fund Snapshot

A Feeder to Lyptus Capital Fund Ltd. The fund follows a passive investment strategy and will invest in

participating shares of Lyptus Capital Fund Ltd.

Investment Amount

• Share class A – For Resident individuals and entities
• Share class B – For NRIs & Foreign nationals
• Share class A4 & B4 – For Accredited Investors

Management Fee

Drawdown

Client has the option of investing in a lump sum or through drawdown. Drawdown is available in two installments: First drawdown—at least 50% of capital commitment at the time of execution of contribution agreement Second drawdown—remaining amount payable at the end of 90 days from the date of the first drawdown.

Asset Allocation

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About Gift City

• Spread over 886 acres of land and being expanded to 2,000 acres.
• Free trade zone with tax incentives enabling flow of financial products and services across borders
• Globally benchmarked IFSC developed by the Government of Gujarat through a joint venture
• Enables domestic financial services companies in cross-border business

What is International Financial Services Centre (IFSC)

• Separate Financial Jurisdiction within India (Full Convertibility)
• Sovereign support, including special carve-outs from domestic laws
• Fully fledged Financial ecosystem with global connections
• IFSC Unit – Treated as a ‘non-resident’
• Unified Financial Regulator (IFSCA) with Globally aligned regulations

ABSLAMC in GIFT City—New Fund Management Destination

ABSLAMC has set up a branch at the International Financial Services Centre (‘IFSC’) in Gujarat International Finance Tech-City (‘GIFT City’)

On November 28, 2022, the International Financial Services Centre Authority (IFSCA) had granted approval to ABSLAMC to act as a “Registered Fund Management Entity (Non-Retail).” ABSLAMC can carry out Restricted schemes under Alternative Investment Fund (AIF) and Portfolio Management Services (PMS).

Types of Investments

Resident Indian Investor – Managing India-Dedicated Offshore Funds for NRIs and Foreign Nationals

NRI & Foreign Investors—Global Investments for Resident Indians & Entities.

Benefits of investing in global equities

Global Diversification

Incorporating global equities can enhance risk-adjusted returns, especially during weak periods in the local market

Access to US Dollar savings

Utilizing annual LRS limits consistently ensures future financial requirements in US dollars are met (e.g., education, home requirements, inheritance, etc.).

Invest in companies not available in India

Capitalize on trends such as AI, PC, Mobile, Data Center, IoT, Cloud and high-performance computing by investing in companies unavailable in India.

Avoid home-bias

Only ~1% of Indian savings are in international equities, often driven by patriotism rather than objective financial analysis.

Access to Global Fund Managers

Invest in a top-rated fund management team globally with a historical record of generating excess returns over

the global benchmark.

Lyptus Capital Master Fund LP

Fund Snapshot

Fund Overview

The fund adopts a clear and repeatable investment strategy, focusing on 20-30 blue-chip global securities, including those in the US, to maintain a sustainable competitive advantage. It is domiciled in the Cayman Islands and is supported by a dedicated investment research team with extensive prior experience at Fidelity.

Fund Manager - Rudy Gopalakrishnan

Rudy Gopalakrishnan is a former Deputy Portfolio Manager at Fidelity Investments, where he contributed to the International Capital Appreciation Fund from 2007 to 2022, achieving top decile relative returns with assets under management (AUM) of $15 billion. He holds an MBA from Harvard Business School (2005-2007) and has prior experience at McKinsey & Company (2002-2005). He earned his BA from Duke University (1998-2002).

Investment Analysts

Rahul Gupta

Rahul Gupta is an Investment Analyst for Global Equities at Fidelity Investments, where he has worked for 17 years, focusing on the Technology sector. He holds a PGDM in Finance from Lal Bahadur Shastri Institute of Management and a B.Com. (Honours) from Shri Ram College of Commerce.

Himanshu Kuriyal

Himanshu Kuriyal has 11 years of experience as an Investment Analyst in Global Equities at Fidelity International, covering sectors such as Consumer and Health Care. He holds an M.Sc. and B.Sc. from IIT Kharagpur and is currently associated with Aditya Birla Sun Life AMC Ltd.

Fund Strategy

• Invests in 20-30 top global blue-chip companies with >$10 billion market cap, in leading monopolies/duopolies.
• Buy high-quality growth companies at reasonable valuations.
• 70%+ active share, ensuring a unique portfolio with low turnover.
• Aspire for consistent long-term outperformance versus the MSCI ACWI benchmark over any 5-year rolling period, net of all fees, across market cycles.

Strong ESG* integration on a bottom-up & top-down basis

• Portfolio-level ESG rating: 4/5 stars by Morningstar.
• Investigate low-rated ESG companies individually.
• Form an independent view on the external rating's validity.

Investment Philosophy

"QGB" combined with "Triple B" forms the bedrock of our process. We seek companies with the following characteristics:

Barriers to entry

Proven track record, durable long-term growth with sustainable competitive differentiation, and robust unit economics.

Best in class

Great management teams operating bulletproof businesses with strong incremental margins and a low fixed

cost structure.

Brands

Been able to withstand disruption for not just decades, but in some cases, centuries.

Dominant Market Share by Company

• Amazon (US Online Market) - 40%
• Microsoft (Office Software) - 50%
• Visa (Payments ex-China) - 50%
• Broadcom (ASICs) - 60%
• Meta (DAUs) - 60%
• Google (Search) - 90%
• NVDA (GPUs) - 90%
• TSMC (Leading Edge Semis) - 95%
• ASML (EUV Lithography) - 97%

Companies with high and growing competitive moats are a consistent driver of outperformance.

Top 10 Holdings

Country Exposure

Sector Positioning

Competitive Advantage Analysis

Tests to determine competitive advantage

• Has ROIC>WACC over long periods?
• Are relative market share gains strong?
• Has there been market share stability historically?

Sources of competitive advantage

• Customer Captivity involves factors such as habit, characterized by high-frequency purchases and brand loyalty, and switching costs, which encompass complexity and high-value-added components, alongside search costs pertinent to specialized products. 
• Economies of Scale refer to the business's ability to efficiently transition variable costs into fixed costs. 
• Production cost advantages primarily relate to cost efficiencies.

The fund manager believes it’s wiser to know what you own and understand the limits of your circle of competence. Build a portfolio from an “80-stock list” researched over 15 years where the Fund Manager feels his competitive advantage lies. Deep knowledge of a few stocks is crucial for alpha generation.

Welcome to a Smarter Way of Investing

At AltPort Funds, smart investing isn’t a stroke of luck—it’s a disciplined process. Our focus is simple: adaptable strategies, high-quality asset selection, and performance that stands the test of time. Ready to grow your wealth with purpose and precision? Join us on a journey where every decision is backed by expertise and every investment moves you closer to your long-term goals.

Start building smarter wealth with AltPort Funds today!