Best Fund Provider India Equity
Goldman Sachs Asset Management
Best Fund Provider – India Equity
Hiren Dasani
co-head of emerging markets equity and lead portfolio manager of India equity strategies, Goldman Sachs Asset Management
“GSAM has been managing dedicated India equity mandates for close to 12 years and has a strong track record of alpha generation. The fund’s investment philosophy is based on the belief that sustainable excess returns can be generated through in-depth fundamental research, alongside a thorough understanding of local markets that we gain from our on-the-ground presence in Mumbai. Our investment team’s deep experience and knowledge of the Indian equity market allows them to find high- or improving-quality companies with strong management and sustainable return profiles that are available at attractive valuations. This expertise has also driven the team’s success investing across a range of sectors and market capitalisations and the portfolio maintains a meaningful exposure to small and mid-caps as well as off-benchmark names to take advantage of these less-efficient parts of the market. Finally, our rigorous approach to risk management, which aims to drive risk from our stock-level decisions and focuses on maintaining a balanced portfolio at all times, has been the key driver of our consistent performance across different market environments.”
Winners rationale
In a mercurial year for the Indian equity market, Goldman Sachs Asset Management (GSAM) firmly held its own. A testament to the firm’s stellar track record of alpha generation, the Goldman Sachs India Equity Portfolio, which offers clients exposure to Indian equities through a flexible, all-cap approach, has outperformed its benchmark by over 493 bps1 per annum on a net-of-fees basis since its launch in March 2008.
To achieve this, the GSAM team conducts close to 1,000 company meetings every year to gain a comprehensive understanding of the local businesses it invests in. Through this meticulous process, the asset manager has developed a portfolio that provides exposure to a broad range of companies across sectors, including off-benchmark names which may offer greater potential for alpha generation due to market inefficiencies.
Demonstrably, the Goldman Sachs India Equity Portfolio has outperformed in various market environments, including 18 out of 21 up quarters and 14 out of 22 down quarters as of December 2018. It also ranks in the top decile of its peer group for trailing ten-year performance, according to Morningstar’s percentile rankings as of November 2018.
Further, GSAM’s Asia private bank distribution business leverages the global GSAM Strategic Advisory Solutions platform, enabling clients access to extensive market strategy, portfolio strategy, and business practice intel.
Additionally, GSAM provides its private banking clients with access to proprietary research papers, sales toolkits, and end-client materials, on top of access to Asia-based portfolio managers via educational workshops and client conferences.
With a decidedly superior record of performance in managing Indian equity strategies, a proven valuation methodology, and access to global best-in-class thought leadership, Goldman Sachs Asset Management is once again Asian Private Banker’s Best Fund Provider – India Equity.
1. Performance for Institutional Accumulation USD Share Class as of 31 December 2018, since inception on 26 March 2008.
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