WEALTH MANAGEMENT

Mission

To be Reliable
Managers to
Our Clients Wealth,
and deliver higher
returns than benchmarks
in a Rational,
Intelligent, Scalable
and Repeatable
manner

Why SMIFS PMS
  • 25+ years of good track record in the Advisory Services in Financial Services
  • Focus on identifying emerging stocks/sectors
  • Core value: long-term, rational investing
  • Headed by experienced professionals
  • Stable and capable research team
  • Field studies, direct company contact
  • Strong friendships among peers in the stock market
  • Employee conduct guidelines
  • No exit Load
  • Consistent outperformance of benchmark, other PMS Products

PORTFOLIO MANAGEMENT SERVICES

INTRODUCTION

SEBI registered Portfolio Manager, Headquartered in Kolkata, Offices in Mumbai and representative offices in Chennai, Bengaluru, Delhi. Investment decision is taken by a Committee of Core Group with average experience of ~20 years in Stock Market

KEY MEMBERS OF THE COMMITTEE Mr Rahul Kayan rahul.kayan@smifs.com MrAswini Tripathi aswin.tripathi@smifs.com, 9831155058 Mr Ajay Jaiswal ajaiswal@smifs.com, 9836966900

FEE STRUCTURE FOR SMIFS PRODUCTS

  • Under Fixed Plan 2% per annum of the Average Daily Value of the portfolio, payable quarterly.
  • Under variable plan A 1% of the portfolio amount plus 10% of the profit above an annualized return of 10%, payable quarterly.
  • Under variable plan B, 20% of profit payable Half Yearly
  • BROKERAGE & STATOTARY CHARGES EXTRA

WHAT IF?

  • You have some shares already… We can take either cash or securities (or both) towards your PMS
  • After we start, you need all the money or a part… You can take it back anytime, no restrictions, we need a selling time-window (typically 7 days, else immediate)
  • You want to invest some more… We take cash and/or securities towards your PMS, anytime
  • You are unhappy… We respect your right to be dissatisfied with our services, you can withdraw your money, no restrictions

Mutual Funds vs PMS – A comparison

  • Mutual funds: Disadvantaged by definition! Enter all stocks proportionally, even if some are mature stories and are topping out. Equity MFs are the best option for retail investors PMS addresses the special needs of HNIs & Corporates
  • The ‘Cash’ option: Key advantage in PMS when there is high uncertainty. Mutual funds are “under pressure to remain invested” PMS can stay upto 100% in cash or liquid funds

Our Philosophies to Portfolio Management Services

There is an old saying –As you sow, so shall you reap!
Hence, portfolio investments are much like farming.
Portfolio managers at Stewart &Mackertichensures that we separate the wheat from the chaff. Hence, we think it’s a lot like Farming:

  • We choose the right crops for you
  • We sow the seeds of your portfolio
  • We tend to your wealth farm and rotate its crops
  • We monitor the weather
  • YOU relish the fruits of success

PMS Strategies

Our approach to equities is focused, rational and long-term investing in equities, Earnings growth drives stock prices over the long term, Above average consistent earnings growth with emphasis on high quality companies, Choose appropriate stocks for different portfolios, yet retain flexibility if conviction is in place

Research Philosophy

Beginning with the entire universe of shares the stock selection process starts, The bottom up approach includes extensive research on macro & micro factors, industry/sector fundamentals & trends and a thorough competitive analysis, Assessment of individual industry / stocks through a mix of quantitative and qualitative techniques

Sample Financial filters

Return on equity, Return on capital, margin on sales, market capitalization, floating stock, liquidity, price/earnings, price/book, PEG, dividend yields, GARP, replacement costs,

Sample Non-Financial filters

Track record of the company, quality of financial information, background of promoter/group, industry demand, global market, market share, competitiveness, prudence in financial and accounting policies, compliance culture, Insiders Activity and promoters Pledge

PMS Operations – The basics

  • Client/customer signs agreement with PMS manager
  • A “Portfolio Account” is created
  • PMS manager operates a “Pool Account” for allclients
  • PMS manager buys and sells in this pool account
  • Allocates trades to individual clients’ Portfolio Accounts
  • Separate slices tracked daily for each client
  • Dividend, bonus, rights benefit is available to each client
  • Fees : can be charged on fixed or profit-share basis

SMIFS PMS PRODUCTS

SMIFS EVERGREEN

Our solid, long term investment product is called Smifs Evergreen. The Holy Bible says (New Testament, Galatians 6:7) – ‘Whatsoever a man soweth, that shall he also reap’

We choose only the sturdiest, evergreen plant that yield sweet fruits – season after season. We take tender loving care of these plants. And they become trees. They come from a solid gene pool, and give a decent harvest in almost all seasons. They can withstand bad weather. These are the plants that we sow for the long term.

Core values underlying the Smifs Evergreen Portfolio

Investment Philosophy Capital preservation with solid and steady growth
Risk Appetite Minimal
Strategy Invest in fundamentally strong scrips available at affordable valuation. Invest in large caps and blue chips.
Investment Time frame Long term holding
Sectoral Bias Across the Spectrum with no particular bias
Max Weightage Stock 15% and Sector 25%

Fee Structure

PLAN FEES / CHARGES MODE OF PAYMENTS
Fixed Plan 2% per annum of the average daily value of the portfolio Payable quarterly
Variable Plan - A 1% per annum of the investment amount
--- Plus ---
10% of profit above an annualized return of 10%
Payable quarterly

Payable half yearly
Variable Plan - B 20% of Profit Payable half yearly
  • Profit means realized gains, unrealized gains and dividend received.
  • For variable plan, investment amount is re-calculated at market rates at the beginning of the financial year.
  • Profit booking is at sole discretion of the fund manager.
  • Service Tax and other surcharges are extra.

Note: We reserve the right to change our fee structure. Please speak with your PMS Relationship Manager for latest details.

SMIFS HARVEST

Smifs Harvest is our moderate risk portfolio. We recognize that some of our investor want a slight more aggressive investment philosophy to drive their investments.

This product offering is driven by the fact that some crops grow quicker than others. Often, they are also more vulnerable and, therefore, need more monitoring. We think you can reap a significantly larger harvest by planting a few crops in our fast-growth farm as well, depending on your risk profile. So that your harvest is larger.

Core values underlying the Smifs Evergreen Portfolio

Investment Philosophy Take calculated risks and achieve significant growth.
Risk Appetite Moderate
Strategy Find clearly identifiable growth stocks at an early stage so as to ride the surge in value at the right time.
Investment Time frame Medium to long term, from 6 to 18 months. Expect some churn arising out of investment review.
Sectoral Bias Focus on hi-growth sectors in India
Max Weightage Stock 20% and Sector 30%

Fee Structure

PLAN FEES / CHARGES MODE OF PAYMENTS
Fixed Plan 2% per annum of the average daily value of the portfolio Payable quarterly
Variable Plan - A 1% per annum of the investment amount
--- Plus ---
10% of profit above an annualized return of 10%
Payable quarterly

Payable half yearly
Variable Plan - B 20% of Profit Payable half yearly
  • Profit means realized gains, unrealized gains and dividend received.
  • For variable plan, investment amount is re-calculated at market rates at the beginning of the financial year.
  • Profit booking is at sole discretion of the fund manager.
  • Service Tax and other surcharges are extra.

Note: We reserve the right to change our fee structure. Please speak with your PMS Relationship Manager for latest details.

We increase our HORIZON…

Stewart & Mackertich is gratified with the response from its associates on its alpha returns from its existing PMS Products. As we embrace the power of Change, we realized the investment needs of our associates and have introduced FIVE other niche PMS Products which caters to the investment needs of several categories of HNIs. UHNIs and Corporates.

While some investors want to tread a less risky patch, most young and adventurous investors, want to walk that extra mile of patchy landscape to see the greener pasture. In the changing landscape of business incubations, several categories of investors have evolved who want a greater slice of growth in a company.

Keeping in mind the needs of several categories of investors, Stewart & Mackertich is pleased to offer FIVE new niche PMS Products.

SMIFS CEDAR

Large Cap focused PMS Product, selected form NSE 100 Stocks. As a Cedar stands tall in every season and weathers the tough environment for years and years, SMIFS CEDAR aims to give consistent returns across all seasons and targets risk averse investors.

SMIFS BLOOM

A Pre-IPO focused PMS Product, consists a portfolio of stocks which are pipelined for an IPO in the near future. The objective is to assist an investor to gain that EXTRA CRUST, post listing from investing in quality stocks lined for IPO.

SMIFS GREENSHOOTS

This PMS Product targets to invest in a pool of “Start UP” Companies. The objective is to fulfil the requirement of an investor who wants to ride the benefits of early stage investing. However, the road to take for such investors comes with thorns, hence we ensure they take a calculated smooth path.

SMIFS ORCHARD

This PMS Product is designed in a way that it facilitates investors to park their Gains / Capital in safe haven for a short to medium term. SMIFS Orchard invests, in Fixed Income Products, viz. Government Securities, Corporate Bonds, Liquid Funds and the like.

SMIFS BOUQUET

Our Rich history and long association with Mutual Funds / Financial Services has given sense to the fact that returns from the same fund may not be consistent because of several factors. Hence, SMIFS BOUQUET, through its launch of “Fund of Funds”, targets to mitigate this inconsistency and MAXIMIZE the return.

SMIFS CEDAR

Smifs Cedar is a large cap focused, top 100 stocks (market cap) PMS Product. It is ideal for investors who is risk averse and would like to have a moderate, consistent returns with focus on top quality large cap stocks. Recent reform measures like demonetization, decline in fixed income returns, visibility of strong GDP growth has seen more companies joining the large cap club across consumption and investments, and hence it makes sense for investors who look for safety, capital protection and consistent returns.

Core values underlying the Smifs Cedar Portfolio

Investment Philosophy Capital preservation with investment in large cap blue chip stocks
Risk Appetite Low
Strategy Investment in only large caps top 100 companies, targeting value and growth
Investment Time frame Medium to long term holding
Use of derivatives Minimal to nil
Stocks and Sectorial bias Maximum 16 stocks with individual stock exposure of 12% and individual sector exposure of 25%
Return expectation Annualized 16 – 18%
Benchmark NSE 100 Index

Fee Structure

Plan Fees / Charges Mode of Payment
Fixed Plan 2% per annum of the average daily value of portfolio Payable Quarterly
Variable Plan - A 1% per annum of the investment amount Plus – 10% of profit above an annualised return of 10% Payable Quarterly
Payable Half Yearly
Variable Plan - B 20% of profit Payable Half Yearly
  • Profit means realized gains, unrealized gains and dividend received.
  • For variable plan, investment amount is re-calculated at market rates at the beginning of the financial year.
  • Profit booking is at sole discretion of the fund manager.
  • Service Tax and other surcharges are extra.

Note: We reserve the right to change our fee structure. Please speak with your PMS Relationship Manager for latest details.

SMIFS BLOOM

Smifs Bloom, a PMS product that targets to invest in companies that are looking to list in the near future in the main exchanges or SME exchanges. The appetite has shifted from large private equity and hedge funds to HNI and mid-size corporates who are looking to invest in pre-IPOs. We believe the swift structural changes like GST implementation, e-commerce, increase in the base of formal economy, Unavailability of informal capital and the urge of young entrepreneurs to elevate their social status through market capitalization is all going to play an important role in listing of mid and small size companies. Most companies need to raise a portion of the desired capital through private placements before the IPO is scheduled to hit the market.

Core values underlying the Smifs Bloom Portfolio

Investment Philosophy To invest in companies that meet social and economic objectives, and offer listing gains
Risk Appetite Medium to High Risk
Strategy Optimize returns by investing in at least 4 – 5 companies
Investment Time frame 3 – 5 years, depending on the company’s IPO stage
Use of derivatives Nil
Stocks and Sectorial bias No sector, product or service bias.
Return expectation Target RR of 22 – 25% annualized return
Fees 1% of corpus payable quarterly and 20% of profit on exit
  • Profit means realized gains, unrealized gains and dividend received.
  • For variable plan, investment amount is re-calculated at market rates at the beginning of the financial year.
  • Profit booking is at sole discretion of the fund manager.
  • Service Tax and other surcharges are extra.

Note: We reserve the right to change our fee structure. Please speak with your PMS Relationship Manager for latest details.

SMIFS GREENSHOOTS

As the name implies, Smifs Greenshoots PMS target to invest in startup companies. Stewart & Mackertich’s Management is actively associated with Angel Networks. In the current crowded space of startup companies, which is likely to get a further boost on support from Government and entrepreneurial zeal among the young Indians, Stewart & Mackertich’s Legacy and rich experience plays an important role in identifying the right idea or the startup, for Angel Investors.

We know that not all green shoots survive the difficult environment and only a few live long to bear fruits. Some may not be genetically strong while some may fall prey to other factors. In the current wave of startup era, it is important to identify the right company for investors. SMIFS management and professionals are leaders in the Entrepreneurial Eco-System which enables them to assess the potential risks at an early stage incubation.

Core values underlying the Smifs Greenshoots Portfolio

Investment Philosophy To target companies that crave to create sustainable value, not just valuation
Risk Appetite High Risk
Strategy Diversify the risk by investing in at least 8 – 10 companies
Investment Time frame 5+ years depending upon the several stages of company’s growth phase
Use of derivatives Minimal to nil
Stocks and Sectorial bias No sector, product or service bias.
Return expectation Target IRR of 25 – 30% over a 5 year+ period
Fees 1% of corpus payable quarterly and 20% of profit on exit
  • Profit means realized gains, unrealized gains and dividend received.
  • For variable plan, investment amount is re-calculated at market rates at the beginning of the financial year.
  • Profit booking is at sole discretion of the fund manager.
  • Service Tax and other surcharges are extra.

Note: We reserve the right to change our fee structure. Please speak with your PMS Relationship Manager for latest details.

SMIFS ORCHARD

Smifs Orchard PMS is a Fixed Income Investment PMS product which invests in a basket of fixed Income products such as Debt Funds. Certificate of Deposits, Commercial Papers, Corporate Bonds (non SLR), Govt. Securities (SLR), Several categories of Government Bonds, Structure Debt Fixed Deposits Gilt Funds, Liquid Funds, and Capital Protection Funds or schemes within the ambit of Fixed Income Market and Money Funds.

As we know Orchards are sometimes a feature of large gardens, where they serve an aesthetic as well as a productive purpose. The idea is to give an HNI investor an option to invest where safety and return are ensured. With increasing High Net Worth Individuals and increasing size of corporates, we believe it is necessary for such investors to park part of their earned capital in less risky safe haven. SMIFS ORCHARD endeavours to provide such a haven to the designated investors.

Core values underlying the Smifs Orchard Portfolio

Investment Philosophy To provide safety and return to investors through customization
Risk Appetite Very Low
Strategy To select mix of products qualifying as safe and secured fixed income product
Investment Time frame Liquid <1 year or depending on customization of client Long duration> 1 year
Use of derivatives Nil
Sectorial bias Depending on customization of investor
Return expectation Depending on the product for liquid 4 – 7% and long 8 – 11%
Fees Nil
  • Profit means realized gains, unrealized gains and dividend received.
  • For variable plan, investment amount is re-calculated at market rates at the beginning of the financial year.
  • Profit booking is at sole discretion of the fund manager.
  • Service Tax and other surcharges are extra.

Note: We reserve the right to change our fee structure. Please speak with your PMS Relationship Manager for latest details.

SMIFS BOUQUET

Smifs Bouquet PMS invests in a pool of high yielding and growth oriented pool of mutual funds, hence it is a Fund of Funds. The investment team at Stewart & Mackertich has a Model Fund of Funds which identify and invest in mutual funds based on the profile of the investors. A risk bearing investor in a mutual fund is given the choice to invest in thematic and growth oriented pool of mutual funds. A risk averse and elderly investors are given the choice to invest in safe and balanced mutual funds. A mutual fund investment requires an investor to track the underlying themes, which is usually not in the scope of most investors. SMIFS BOUQUET targets to provide such support to investors.

Core values underlying the Smifs Bouquet Portfolio

Investment Philosophy Offer the right support to investors
Risk Appetite Medium to Low Risk
Strategy Diversify the risk by investing in at least 5 – 8 mutual funds
Investment Time frame 2 years and beyond
Use of derivatives Minimum to nil
Stocks and Sectorial bias Based on profile and need of the investor
Return expectation Target alpha return of 6% on benchmark index
Fees 10% of alpha generated Payable half yearly
  • Profit means realized gains, unrealized gains and dividend received.
  • For variable plan, investment amount is re-calculated at market rates at the beginning of the financial year.
  • Profit booking is at sole discretion of the fund manager.
  • Service Tax and other surcharges are extra.

Note: We reserve the right to change our fee structure. Please speak with your PMS Relationship Manager for latest details.

Mission

To be Reliable
Managers to
Our Clients Wealth,
and deliver higher
returns than benchmarks
in a Rational,
Intelligent, Scalable
and Repeatable
manner

Mutual Fund & IPO

Distribution of all leading Mutual Funds and IPO’s with regular updates, advisory and trends on the industry.

Mr Vishal Prabhakar, VP (Sales)
Vishal.prabhakar@smifs.com
+91 9831554477

Mr Abhijit Shah
Abhjit.shah@smifs.com
9163418227

Mission

To be Reliable
Managers to
Our Clients Wealth,
and deliver higher
returns than benchmarks
in a Rational,
Intelligent, Scalable
and Repeatable
manner

Advisory

Financial investments particularly in Equities, Commodities and Currencies require knowledge based decision making for the right investments and trading opportunities. With rich experience in the financial markets across asset classes and having experienced various global and domestic business cycles through the past three decades, we have a trained pool of talents who keep investors and traders abreast with the latest developments across equities, commodities and currencies. We help clients build portfolio based on their needs of returns and according to their time horizon.

Mr. Ajay Jaiswal – President Strategies & Head Research
ajaiswal@smifs.com
Mobile 9836966900