About Company
IKIGAI Asset Manager
They are dedicated to their core principles of Trust, Process, and Performance. At the heart of investment philosophy is a focus on investing in quality and resilient businesses. The goal is to invest in companies that can deliver superior returns on capital employed over sustainable periods and reinvest their cash flows to drive growth. This approach leads to the compounding of business value and stock price. The fund is actively managed under IKIGAI asset management, ensuring that investment decisions align with the company’s disciplined principles.
Fund Snapshot
| Parameter | Details |
|---|---|
| Fund Name | IKIGAI Emerging Equity Fund |
| Fund Category | Category III AIF |
| Structure | Open-ended |
| Investment Strategy | Long-only equity |
| Launch | June 2024 |
| Fund Manager | Pankaj Tibrewal |
| Primary Focus | Mid & Small Cap Listed Equities |
| Approach | Bottom-up stock selection |
| Model Used | MBV (Management, Business, Valuation) |
| Investment Horizon | Long-term |
| NAV Frequency | Bi-monthly (for transactions) |
| Exit Load | 2% within 12 months, Nil thereafter |
Investment Objective
The fund seeks to generate long-term capital appreciation by investing in fundamentally strong companies with scalable business models. It follows a disciplined process aligned with regulatory guidelines and internal investment frameworks.
Investment Strategy
The fund adopts a bottom-up stock selection strategy, driven by its proprietary MBV framework, which evaluates:
- Management Quality – Ability to execute and scale
- Business Strength – Market opportunity and competitive positioning
- Valuation Discipline – Based on metrics like DCF and P/E
This approach ensures investments are backed by both growth potential and reasonable valuations, rather than momentum-driven decisions.
Portfolio Philosophy
The portfolio is constructed with a focus on:
- High-quality businesses at reasonable prices
- Diversification across sectors and market caps
- Buy-and-hold strategy to capture compounding
- Avoidance of significant downside risks
Rather than chasing top-decile yearly returns, the fund targets consistent, above-average performance, aiming to remain within the top quartiles over a full market cycle.
Key Features
- Open-ended structure for flexibility
- Long-only equity exposure
- Strong bias towards mid and small-cap opportunities
- Process-driven investing over outcome chasing
- Focus on capital preservation alongside growth
Why This Fund Stands Out
- Process Over Prediction: Emphasis on disciplined execution rather than market timing
- Consistency First: Designed to avoid large drawdowns and deliver stable returns
- Experienced Leadership: Backed by decades of equity market expertise
- Compounding Mindset: Built for investors who think in years, not quarters
Ideal Investor Profile
This fund is suited for investors who:
- Seek long-term wealth creation
- Are comfortable with mid & small-cap exposure
- Prefer process-driven investing over short-term bets
- Value consistency and downside protection
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Learn about the experienced fund managers responsible for investment decisions, portfolio strategy, and long-term fund performance.
Pankaj Tibrewal
Pankaj Tibrewal brings over two decades of extensive fund management experience. At Kotak Mutual Fund, he successfully managed assets worth ₹56,000 crore ($6.75 billion) over a remarkable 14-year span. He significantly grew the Kotak Emerging Equity Fund from ₹113 crore ($13 million) in 2010 to ₹36,000 crore ($4.33 billion), establishing it as the country’s second-largest mid-cap fund. Additionally, he expanded the Kotak Small Cap Fund from ₹127 crore ($15 million) to ₹13,000 crore ($1.56 billion), ranking it the fifth-largest small-cap fund. Under his leadership, Kotak Mutual Fund’s total AUM reached ₹3.50 lakh crore as of November 2023, positioning it among the top five Indian asset management companies. He also managed the Kotak Business Cycles Fund and the equity portion of the Kotak Equity Hybrid Fund. Pankaj has been consistently recognised among the top 10 fund managers in India by Outlook Business (2016-2021) and featured as a top fund manager by The Economic Times and Morning Star (2016-2022).
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