Globe Capital PMS

About Company

Globe is a leading financial services group committed to help clients achieve their goals. A wide range of services and a diversified client base is an outcome of Globe’s expertise in guiding clients through the financial markets. Globe has a large network of offices in India and overseas through a subsidiary in Dubai. They offer diverse services including Markets Intermediation, Portfolio Management Services (PMS), Securities Lending and Borrowing Services and International Broking, etc. Globe Capital Market accounts for a substantial share of NSE clearing volumes in the derivative segments. They are also acting as professional clearing members for a large number of broking entities in the country.

Fund Snapshot

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About Fund Manager

Mr. Ankit Agarwal: Director – Globe Capital Group of Companies & Head- Globe Wealth & PMS

Mr. Ankit Agarwal is a Chartered Accountant and a CFA by qualification. He is in-charge of the overall Fund Management Division at Globe Capital including Portfolio Management Services, Investment Research, Institutional Investment Advisory and FII Advisory. He also heads the proprietary investment arbitrage division at Globe. Under his leadership in 2021 Globe PMS became the top performing fund in the 5 year CAGR category. He has a special acumen for value investing and identifying multibagger companies with good quality management. He has a great understanding and indepth knowledge of Indian Capital Markets, Macro and Micro economic factors driving the economy. He also has expertise in special situation arbitrage and use of derivatives to make use of various opportunities in the market. Under the guidance of Mr. Agarwal, Globe has been a pioneer in special situation arbitrage for more than a decade now. He has initiated many investor education initiatives at various national forums for greater financial inclusion among the youth of this country.

Mr. Parashuram Prasad: Fund Manager, PMS

Mr. Parashuram Prasad has over 15 years of experience in fundamental equity research and fund management in Indian capital market, with over 13 years with Globe PMS. He holds an MBA (Finance) and a Bachelor’s degree in Chemistry. He prefers a ‘bottom up strategy’ while picking stocks. He has a strong Quantitative aptitude and has enhanced the team’s strategic and tactical Asset Allocation decision making process.

He has a keen eye for picking stocks that have strong financials & earnings growth. He focuses on companies having businesses with robust competitive advantages in both terms quantitative & qualitative. He does not believe in theory of timing the market rather his philosophy is to invest in the right stock rather than wait for the right time.

Fund Management Process

1. Investor’s Profile

Portfolio structuring based on investor’s risk profile and investment objectives
Determining Risk Appetite
Setting Return Expectation
Investment Horizon
Understanding Liquidity Requirements

2. Investment Process

Idea Generation
Idea Evaluation and Selection through back testing
Arbitrage/Special Situations and other Market opportunity decisions are taken as and when the opportunity arise
Idea Execution
Active Monitoring and Risk Management
Exit strategy

3. Reporting

Monthly reports with Portfolio Statements and Valuations
Regular interaction with clients with respect to account performance
Annual Tax reports
Meetings with fund managers to understand future outlook

Special Situation Investing

Special Situation aims at generating returns by exploiting market inefficiencies and other low risk opportunities by using various strategies such as Cash Future Arbitrage, Covered Calls/Puts, Pair Trading and tries to benefit from event arbitrage involving merger & acquisitions, Open Offers, takeover, de-listing and other special situations.

Focus is mainly on those companies transforming their capital structure, organization or taking place of an event as opposed to focus on operations.

Uncorrelated returns – tend to be less correlated to the market.

Less vulnerable to Interest Rates – Special situations often depend on an event that is between 6 months and 1 year i.e. relatively near term, thus not as vulnerable with Interest rate movements.

Investment Approach

Principle Protection

Fixed Deposits
Liquid Fund
Other Debt Instruments

Sustainable Return Generation

Cash – Future Arbitrage
Merger – Demerger Arbitrage
Dividend Arbitrage
Buy and Hold – Equity
Use of derivatives

Special Situations for Alpha Generation

Buybacks
Delisting
Open Offer
Offer For Sale

Open Offer

It is aimed at providing the shareholders an exit option, as there may be a management change post acquisition and investors may or may not like to continue with the change in management.
Example:
1. Open offer in Escorts Ltd. By Kubota Corp @ INR 2000/- from the Public shareholders whereas the market price was INR 1800/- ( So one could tender the shares @ 2000 in open offer and sell the rest in the market or can hedge with future also )

2. Open offer in Vedanta Ltd by Vedanta Plc @ INR 235/- when the market price was INR 225 /- and there was 100% acceptance ratio.

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Fund Overview

Globe Arbitrage Strategy aims at investing in low risk strategies based on arbitrage opportunities.

It also aims at investing in various special situations in the market, based on corporate events and actions, which offer unique opportunities to earn an additional return without having to take on additional risk.

The strategy would make use of equity and derivatives to augment returns in a relatively lower risk manner and to hedge against abnormal markets movements.

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FAQ's

Globe Capital PMS

About Company

ALTERNATIVE INVESTMENT FUND (AIF)

Portfolio Management Services (PMS)