About Company
SageOne Investment Managers LLP
SageOne Investment Managers LLP is an investment management firm based in Pune, Maharashtra, offering Portfolio Management Services (PMS) and managing Category III Alternative Investment Funds (AIFs). Founded by Samit Vartak, the firm focuses on listed equity investments and offers multiple investment approaches for investors seeking professionally managed portfolios. The firm operates across three areas: domestic Portfolio Management Services, domestic Alternative Investment Funds and an AIF offering through GIFT City. Each operates within its applicable regulatory framework and has its own investment documentation.
SageOne Core Portfolio PMS: Key Details
SageOne Core Portfolio has 18 holdings, a ₹2 crore minimum investment and a BSE 500 TRI benchmark, with PMS AUM of ₹4,297.23 crore as at 31 August 2026.
| Parameter | Details |
| Product name | SageOne Core Portfolio (SCP) |
| APMI name | SageOne Mid & Small Cap |
| APMI identifier | IAID 341 |
| Category | Equity PMS |
| Portfolio approach | Discretionary, long-only Indian equities |
| Fund manager | Samit Vartak, CFA |
| Minimum investment | ₹2 crore |
| Benchmark | BSE 500 TRI |
| Comparable index | Average of NSE Midcap 100 TRI and NSE Smallcap 100 TRI |
| Holdings | 18 stocks, September 2026 factsheet |
| PMS AUM | ₹4,297.23 crore as at 31 August 2026, APMI |
| Market-cap allocation | Large cap 10%, mid cap 27%, small cap 56%, cash 8%, September 2026 factsheet |
| Investment horizon | 3–5 years |
| Custodian | Nuvama Custodial Services Limited |
| Eligible investors | Resident Indians and NRIs, subject to applicable requirements |
| Performance period | Since April 2012, as reported by SageOne |
| APMI inception date | 22 January 2017 |
The September 2026 factsheet reports 18 holdings. The AUM figure above is the APMI PMS-specific figure as at 31 August 2026; it is distinct from broader strategy AUM figures that may include other investment structures.
About SageOne Investment Managers LLP
SageOne Investment Managers LLP is a Pune-based investment management firm incorporated on 29 July 2013 (LLPIN AAB-6772). It is a SEBI-registered portfolio manager (INP000006943) and Category III AIF manager, led by Founding Partner and Chief Investment Officer Samit Vartak. Read more about SageOne Investment Managers.
What Is SageOne Core Portfolio PMS?
SageOne Core Portfolio PMS is a long-only mid and small cap equity portfolio management service from SageOne Investment Managers LLP, registered with APMI as SageOne Mid & Small Cap (IAID 341).
SageOne markets this investment approach as Core Portfolio, or SCP, while its APMI registration identifies the approach as SageOne Mid & Small Cap. Both names refer to the strategy discussed on this page. Investors can also explore the separate SageOne Small Cap strategy.
The SageOne Core Portfolio PMS seeks to identify Indian businesses with structural growth potential, strong fundamentals and sustainable competitive advantages. Its investment universe covers companies ranked approximately 101st to 600th by market capitalisation.
Unlike a diversified index portfolio, SageOne Core Portfolio builds a concentrated portfolio of selected businesses. Its discretionary portfolio management approach allows the manager to make investment decisions within the agreed mandate.
For investors comparing portfolio management services in India, the distinction matters: this is a mid- and small-cap equity strategy, not a broad-market or capital-protection product.
SageOne Core Portfolio PMS Investment Strategy
SageOne Core Portfolio seeks to invest in high-quality Indian businesses with potential for earnings growth above 20%, using fundamental research and valuation discipline.
Business quality and growth
The stated objective is to invest in high-quality structural growth businesses in India. The investment process looks for companies that can expand earnings through industry growth, market-share gains and scalable business models.
SageOne's investment framework emphasises earnings growth potential above 20%, alongside profitability, management quality and sustainable competitive advantages.
Valuation discipline
Growth alone does not determine whether a company enters the portfolio. The portfolio is built around high-conviction ideas at or below fair value, according to the investment approach described in its PMS disclosure document.
This valuation discipline aims to balance a company's growth prospects against the price paid for its shares. It cannot eliminate the risk of overvaluation or changes in market expectations.
Bottom-up research
The strategy uses fundamental, bottom-up research supported by plant visits, channel checks and interactions with multiple stakeholders. These activities help assess operational performance, competitive positioning and management execution.
Investment horizon
SageOne indicates an investment horizon of three to five years. The approach is designed for investors who can remain invested through market cycles rather than react to short-term price movements.
Explore other PMS investment approaches to compare different portfolio objectives and investment styles.
How Does SageOne Core Portfolio Select Mid and Small Cap Stocks?
SageOne Core Portfolio uses bottom-up fundamental research to identify businesses within the 101st-to-600th market-cap ranking range, supported by company visits and industry checks.
The selection process focuses on:
- Earnings growth: Potential for earnings growth above 20% over the investment horizon.
- Capital efficiency: ROCE and ROE above 20% are key indicators in SageOne's stated investment framework.
- Leverage: The approach favours businesses with controlled debt; a debt-equity ratio below 0.5 is a stated selection characteristic.
- Market-share gains: Companies that can strengthen their competitive position and expand within their industries.
- Cash generation: Attention to operating cash flows, margins and the quality of reported earnings.
- Management and governance: Assessment of management quality, capital allocation and business fundamentals.
SageOne's February 2026 factsheet described much of the portfolio's market-cap exposure as companies in the approximate ₹10,000 crore to ₹85,000 crore range. Market capitalisations change over time, so this range should be understood as a description of the investment universe, not a fixed limit for every holding.
The research process combines quantitative financial analysis with qualitative assessment. No screening framework can guarantee that every selected business will meet its growth expectations.
How Does SageOne Core Portfolio PMS Manage Concentration and Risk?
SageOne Core Portfolio held 18 stocks in its September 2026 factsheet, with its top 10 holdings accounting for 68% of the portfolio.
The same factsheet reported individual stock exposures ranging from 1% to 11%. SageOne's PMS disclosure document sets a limit of 12% at cost for a single stock and 30% at cost for a single sector across its approaches.
Portfolio allocation as at September 2026
| Portfolio characteristic | Reported allocation |
| Large cap | 10% |
| Mid cap | 27% |
| Small cap | 56% |
| Cash | 8% |
| Top 10 holdings | 68% |
| Number of holdings | 18 |
| Single-stock exposure range | 1%–11% |
The September 2026 sector allocation included specialty chemicals at 15%, and consumption, finance, pharmaceuticals CDMO, and auto and auto ancillaries at 11% each. These figures describe the portfolio at that reporting point; holdings and sector weights can change.
Concentration can increase the effect of individual company results on portfolio performance. The strategy also remains exposed to small-cap liquidity, valuation changes and market-wide declines.
What Returns Has SageOne Core Portfolio PMS Delivered?
SageOne Core Portfolio returned 13.1% over one year and 19.3% annualised over three years, net of fees, as at 31 August 2026, according to the September 2026 factsheet.
Performance as at 31 August 2026
| Period | SageOne Core Portfolio | BSE 500 TRI |
| 6 months | 12.4% | 1.4% |
| 1 year | 13.1% | 4.7% |
| 3 years, annualised | 19.3% | 12.1% |
| 5 years, annualised | 13.8% | 10.9% |
| 7 years, annualised | 24.3% | 15.8% |
| 10 years, annualised | 17.7% | 13.3% |
The factsheet reports time-weighted returns on pooled capital, net of fees and costs. Returns for periods under one year are absolute; periods above one year are annualised. Individual client returns may differ depending on investment timing.
APMI performance data also reports a separate series for SageOne Mid & Small Cap. The APMI figures should be assessed using their own reporting date and inception basis rather than combined with the factsheet figures.
The reported performance period beginning in April 2012 predates the APMI inception date of 22 January 2017. These dates refer to different reporting contexts and should not be treated as interchangeable measures of a single regulatory track record.
Past performance is not indicative of future performance. The factsheet also states that its performance data has not been verified by SEBI.
SageOne Core Portfolio PMS Minimum Investment, Fees and Exit Load
The minimum investment in SageOne Core Portfolio PMS is ₹2 crore. Its published factsheet specifies an exit load of 3% in year one, 2% in year two, 1% in year three and nil thereafter.
Fees and charges
SageOne's FAQ describes management fees as potentially fixed, return-based or a combination of both, charged quarterly. Performance fees, where applicable, are assessed annually on 31 March.
The exact fee percentages, profit-sharing terms and hurdle rate are not established from the reviewed primary information. Investors should refer to the latest fund documents and the applicable PMS agreement for the complete fee structure.
For further information, see ALTPORT's guide to PMS fees and charges.
Taxation
SageOne describes taxation as applying at the individual investor level. The treatment of short-term and long-term gains depends on applicable tax rules and the investor's circumstances. Investors should consider their own tax position before investing.
What Are the Risks of Investing in SageOne Core Portfolio PMS?
SageOne describes Core Portfolio's risk profile as generally moderate to high because of its mid- and small-cap exposure; investors can lose part or all of their capital.
Key risks include:
- Concentration risk: The September 2026 factsheet showed 18 holdings, with 68% in the top 10 positions.
- Small-cap risk: Small-cap stocks represented 56% of the portfolio in September 2026 and can experience sharp price movements.
- Liquidity risk: Some holdings may be harder to sell at desired prices during stressed markets.
- Valuation risk: A company's market price can fall even when its long-term business outlook remains intact.
- Business risk: Earnings growth, margins or market-share expectations may not materialise.
- Key-person risk: Investment decisions may be affected by changes in the investment team.
- Discretionary management risk: Portfolio decisions depend on the manager's analysis, judgement and execution.
Investors should assess these risks against their financial goals, investment horizon and capacity to withstand drawdowns.
Who May Consider SageOne Core Portfolio PMS?
SageOne Core Portfolio may suit investors with a higher risk tolerance, a long-term outlook and familiarity with PMS investments.
The strategy's stated investment horizon is three to five years, while its concentrated mid- and small-cap exposure may require investors to tolerate substantial interim volatility. The ₹2 crore minimum also means investors need sufficient investible surplus after accounting for emergency funds and other financial commitments.
SageOne states that resident Indians and NRIs may invest, subject to applicable regulatory requirements. Eligibility does not establish suitability for every investor.
Compare PMS Strategies on ALTPORT
SageOne Core Portfolio is designed around concentrated mid- and small-cap equity investing. Before investing, review its minimum commitment, fees, portfolio concentration, performance reporting and risk profile against your own objectives.
You can compare it with the separate SageOne Small Cap and SageOne LargeCap strategies, or explore the differences between mutual funds, PMS and AIFs.
For further information about the details available on ALTPORT, contact ALTPORT.
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Samit Vartak
Samit Vartak is the founder and chief investment officer of The SageOne Investment Managers LLP. He completed his Master’s of Business Administration (MBA) from Olin Business School of Washington University in St. Louis. Samit Vartak has work experience of more than two decades. After his MBA; he joined PricewaterhouseCoopers as Management Consultant. He has been a manager both at Gap Inc. and Deloitte Financial Advisory Services.
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Find answers to common questions about fund investments, performance, portfolio strategy, and investor services.
SageOne Core Portfolio PMS is a discretionary, long-only equity strategy focused on Indian mid- and small-cap businesses. APMI identifies the approach as SageOne Mid & Small Cap (IAID 341).
Yes. SageOne markets the approach as Core Portfolio (SCP), while its APMI registration name is SageOne Mid & Small Cap. The product name and registration name refer to the same approach.
The minimum investment is ₹2 crore, according to SageOne's published product information. The applicable onboarding and agreement terms govern an investment.
APMI reported PMS AUM of ₹4,297.23 crore as at 31 August 2026. This is the PMS-specific figure, not the broader strategy AUM that may include other investment structures.
SageOne reports a performance period beginning in April 2012. APMI lists 22 January 2017 as the inception date for SageOne Mid & Small Cap. These dates represent different reporting contexts.
The September 2026 factsheet reported 18 holdings. The actual number and weights may change as the portfolio is managed.
The strategy uses bottom-up fundamental research to identify high-quality Indian businesses with structural growth potential, competitive advantages and attractive valuations.
SageOne describes its universe as companies ranked approximately 101st to 600th by market capitalisation, covering the mid- and small-cap segments.
As at 31 August 2026, the September factsheet reported 13.1% over one year and 19.3% annualised over three years, net of fees. Past performance does not indicate future results.
The exact fee percentages and performance-sharing terms are not established from the reviewed primary information. SageOne describes quarterly management-fee charging and annual performance-fee assessment where applicable.
Core Portfolio focuses on mid- and small-cap companies, while SageOne Small Cap has a small-cap-focused mandate. The strategies have separate portfolios, terms and performance histories.
Samit Vartak, CFA, Founding Partner and CIO of SageOne Investment Managers LLP, is identified as the fund manager for Core Portfolio.
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