About Company
Karma Capital Advisors
Founded in 2005 by Nikhil Desai and Rushabh Sheth, Karma Capital Advisors is a Mumbai-based boutique investment firm specializing in Indian listed equities. It manages approximately ₹7,450 crores (USD 829 million) for global institutional and individual investors as of September 2024. The firm follows a disciplined, bottom-up "Growth at Reasonable Price" (GARP) philosophy to deliver long-term returns through high-conviction portfolios. Key offerings include Portfolio Management Services (PMS) like Wealth Builder and Lotus, as well as Category III Alternative Investment Funds (AIF). Karma Capital remains employee-owned, maintaining an independent, research-driven approach across market cycles.
Fund Snapshot
| Parameter | Details |
| PMS Provider Name | Karma Capital Advisors Pvt Ltd. |
| Strategy Name | Equity |
| Product Name | Equity |
| Date Of Inception | 15/12/2025 |
| Age | 5 Months |
| Benchmark | BSE 500 TRI |
| AUM (Cr) | ₹16.14 |
| Min. Inv. Amount | ₹50,000,000 |
| Fixed Fees Structure | Upto 2.5% P.A. |
| Variable Fees Structure | AMC: 1.5% PA; Hurdle rate: 10%; Performance fees: 20% |
| Exit Load | NA |
Fund Purpose
The Karma Capital Highly Diversified Strategy focuses on selecting securities primarily from a wide universe of listed Indian equities without being rigidly restricted by its underlying benchmark. The core goal is to construct an expansive, well-diversified portfolio consisting of approximately 125 to 150 equity stocks spread across various market capitalizations and sectors. By maintaining a highly diversified footprint, the strategy actively aims to mitigate stock-specific and sector-specific concentration risks while seeking sustainable growth over a long-term investment horizon of more than 2 years.
Fund Philosophy
Broad Market Capitalization Agnostic Sourcing
The strategy intentionally avoids limiting its stock selection to a specific market cap or index tier. By operating with a benchmark-agnostic framework, it evaluates opportunities seamlessly across large-cap, mid-cap, and small-cap segments to capture growth wherever it presents the best risk-adjusted potential.
Disciplined Quantitative Security Selection
Security selection is driven by rigorous quantitative parameters rather than speculative trends. The fund emphasizes fundamental metrics such as clear earnings growth potential, strong market liquidity, and attractive relative valuations to ensure that every chosen stock aligns with strict financial baselines.
Comprehensive Stock and Sector Risk Mitigation
To protect investor capital from volatile swings, the fund builds a wide net of 125 to 150 individual securities. This deliberate structure reduces the impact of any single company underperforming or any individual industry facing economic cyclicality, stabilizing the overall portfolio trajectory.
Low Portfolio Churn and High Patience
Believing that true corporate value compounds over years, the fund explicitly avoids active churning or high-frequency day trading. Stocks are selected with a medium-to-long-term holding mindset, allowing underlying businesses sufficient time to realize their intrinsic business scale.
Structured Periodic Rebalancing
While the portfolio relies on a buy-and-hold framework, it does not remain completely static. The investment team carries out structured rebalancing on a periodic basis to re-align stock weights, capture structural valuation gains, and keep the baseline asset exposure closely mapped to the BSE 500 TRI benchmark.
Track how the fund has performed against its benchmark over time through a comparative line graph analysis.
KARMA CAPITAL HIGHLY DIVERSIFIED
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.
Karma Capital Advisors Pvt Ltd.
| AUM(Cr.) | 1M | 3M | 6M | 1Y | 2Y | 3Y | 4Y | 5Y | Ince. | |
| Performance | ₹8.90 | -11.23 | -12.85 | NA | NA | NA | NA | NA | NA | -12.15 |
| Benchmark | NA | -11.37 | -13.94 | NA | NA | NA | NA | NA | NA | -13.44 |
Learn about the experienced fund managers responsible for investment decisions, portfolio strategy, and long-term fund performance.
Ekta Mehta
She possesses more than 11 years of extensive experience in various areas of investment and financial analysis. She oversees large-cap funds and covers companies in vital sectors such as Banking, Financials, Insurance, FMCG, Hotels, Hospitals, and Oil & Gas. Before joining Karma Capital, Ekta worked at MSCI and SGA, delving into different areas of Indexing and Investor Relations. Previously, she worked at B&K Securities as a sell-side analyst focusing on the media industry and had a short tenure as a Research Associate at Karma Capital. Ekta earned her MBA in Finance from N.L. Dalmia Institute of Management Studies and possesses a CFA qualification from ICFAI University.
Rushabh Sheth
Rushabh has over 28 years of experience, including 21 years in money management, mainly focused on listed equities. At Karma Capital, he serves as Portfolio Manager while also contributing to the overall corporate governance. Throughout his career, Rushabh has engaged with different types of money management, including Portfolio Management, Mutual Funds, and Offshore funds. He has been actively engaged in the development of the fund management sector in India. Before joining Karma Capital, Rushabh served as CIO (Equities) at Kotak Mutual Fund, a segment of Kotak Bank Group, from 2003 to 2005. During this time, the company's assets increased eight times under his leadership. Rushabh began his career in 1993 as an Investment Analyst at ASK Raymond James—now known as ASK Investment Managers—and subsequently held several positions at ASK, such as Director of Business Development and Portfolio Manager. Rushabh has a bachelor's degree in Commerce from the University of Mumbai and is a certified Cost Accountant from the Institute of Cost and Works Accountants of India.
Nikhil Desai
He has more than 29 years of professional experience, including 21 years in Portfolio Management and Research in Listed Equities through various market cycles. At Karma Capital, he serves as Portfolio Manager while also participating in the overall corporate management. In 1993, Nikhil embarked on a full-time career in Investment Management after joining ASK Raymond James Securities as a buy-side equity analyst. In this role, he managed discretionary equity investments for both domestic high-net-worth individuals and offshore investors. In 2003, Nikhil became the Head of the Equity Assets business in the Private Banking division at ABN AMRO Bank. At ABN AMRO, he oversaw the development of the equity investment strategy and managed separate equity assets for ultra-high net worth clients. Nikhil was instrumental in establishing asset allocation strategies and aligning portfolio management in India with the global best practices adhered to by ABN AMRO Bank NV. Nikhil completed his studies at the University of Mumbai and holds a Bachelor’s degree in Commerce. He completed his MBA at Virginia Tech with the highest distinction, receiving honors for academic excellence.
Vinay Jain
Vinay became a Senior Manager – Research at Karma Capital Advisors in May 2013 and is now the Portfolio Manager. Vinay possesses a total of 11 years of experience, having spent more than nine years at Karma Capital, where he serves as the Portfolio Manager for the Karma India AIF. Before joining Karma Capital, Vinay was employed at SS&C Globeop Financial Services Ltd. in the Valuation Control (Securities) division for a duration of nine months. Vinay earned his degree from the University of Mumbai and possesses a bachelor’s in Electronics Engineering. He possesses an MBA in Finance from the University of Mumbai.
Find answers to common questions about fund investments, performance, portfolio strategy, and investor services.
The primary objective is long-term wealth creation by building a highly diversified portfolio of 125 to 150 equity stocks across different sectors and market capitalizations. It uses quantitative filters to spot growth while using extreme diversification to eliminate stock-specific risks.
The fund charges a fixed fee structure of up to 2.5% P.A. For performance-linked returns, it operates on a variable fee structure that includes a 1.5% P.A. AMC fee, a 10% hurdle rate baseline, and a 20% performance fee sharing arrangement on excess returns.
There is no exit load (listed as NA) applicable to this strategy based on current disclosure parameters. However, being a SEBI-registered Portfolio Management Service, it mandates a minimum ticket size threshold of ₹5,000,000 (₹50 Lakhs) for fresh client onboarding.
The fund manages risk by completely avoiding highly concentrated positions, spreading its capital across roughly 125 to 150 distinct holdings. This structural design insulates the wider portfolio from sudden negative shocks in a single company or a particular sector.
This strategy is ideally suited for High Net Worth Individuals (HNIs) and institutional investors who possess a medium-to-long-term investment horizon of more than 2 years. It suits those who want broad equity exposure aligned with the BSE 500 TRI without the volatility of concentrated thematic funds.
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Disclaimer: Investing in AIF, PMS, Gift City or Mutual Fund is subject to market risk. Please read the related documents carefully. Past performance does not guarantee future results and there is no assurance that the managed accounts will necessarily achieve their objectives. Actual portfolios may differ as a result of account size, client-imposed investment restrictions, the timing of client investments and market, economic, and individual company factors. We at ALTPORT do not guarantee any returns in the hands of investors, nor do we take any sort of accountability for the performance of the scheme.
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