Wealth Management

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About KUNVARJI

Kunvarji is a six decade old diversified group having interests in Financial Services,

Commodity Supply, Warehousing & Collateral Management and Real Estate Advisory.

From a commodity procurement firm in 1960 to multi industry and geographically spread

organization today, we have create benchmarks and relationship capital over the years

through our knowledge,innovationand ethics.

VISION

“Wenurturerelationshipsfor mutual andsustainablegrowth,Ethically.”

MISSION

"The Present shows good promise and the Future, serious potential”

Over the years the group has

diversified its business portfolio under four

major verticals namely :

1) Financial Services

2) Warehousing

3) Commodity Supply Solutions

4) Property Solutions

Essentially the underlying objectives for

all the verticals have been service

excellence and value creation. Various

business and value creation models are

devised under every vertical after careful study

of market needs and inherited experience

over the period of time.

Business Verticals

FINANCIAL SERVICES

WAREHOUSING &

COLLATERAL MANAGEMENT

PROPERTY SOLUTIONS

COMMODITY

SUPPLY SOLUTIONS

Financial Services Offering

WEALTH & ASSET MANAGEMENT

SERVICES

INSTITUTIONAL DESK

BULK & CORPORATE INSURANCE ADVISORY

EQUITY CURRENCY

NRI INVESTMENT

SERVICESCOMMODITY

Our new state of art trading platform gives our customers a better experience withmore

information tools and ease in trading.

”OUR FASTEST TRADING APP WITH MULTIPLE PRODUCTS

AT ONE STOP DESTINATION”

MERCHANT BANKING

Investing Core Values Of Investing

Fund managers or advisors have a fiduciary responsibility to its customers to protect and generate

superior return at a given risk compared to the no brainer relevant benchmark and the peers. But, data

suggest that majority of the fund managers and advisors across times and across countries have failed to do

so, either because of insufficient capabilities or lack of discipline. We at Kunvarji, have consistently

performing, largely because of a disciplined, unbiased, process and data driven multi asset, multi strategy

framework.

SUPERIOR AND CONSISTENT RISK ADJUSTED RETURNS : Not only do we focus on returns, we

also focus on the quality of returns. Our objective is to maximize returns per unit of risk for the investor.

RESEARCH, DATA & ANALYTICS DRIVEN : We have created the best data-driven buy-side research

teams in the country, with capabilities spread across asset classes and investment strategies. We use our

extensive in-house data framework & infrastructure built over the past decade for identification of both

domesticand internationalwealthproducts, best available in industry.

SOLE FUND MANAGEMENT FOCUS : We believe wealth & asset management is a serious business

and it merits our singular focus. At Kunvarji, we have an independent wing of wealth & asset management to

manageassets for our clients.

CLIENTS FIRST : We not only believe in providing the best investment management services to our clients

but also believe in keeping them fully engaged and informed. We strive to create awareness about assets,

investment strategies and the risk profile of the client's portfolio. We believe that clients demand both

quantityand quality ininvestment returns.

InvestingWealth Management

REQUIREMENT ANALYSLS INVESTMENT POLICY

Understand Client's financial goals.

Assess return expectation and risk tolerance.

Suggest investment options based on client requirements and profiling.

Suggest asset allocation.

POLICY IMPLEMENTATION

Confirm portfolio suggestions with client.

Implement investment strategy. Decide review schedule with client.

REVIEW A GUIDANCE

Analyze market for opportunities and make portfolio change suggestions.

Rebalance asset allocations.

Modify strategy with changing investor goals.

MONITORING A REPORTING

Monitor portfolio and check for deviations from model strategy.

Generate portfolio report on regular basis.

Our team of experts consult and help the investors to know, understand and prioritize theirfinancial goals and then to arrive at personalized solutions for each of the investors based ontheir scarce resources, risk appetite and time horizon of each goal. With the use of expertise ofthe team they support the investors to know :

1 WHERE I STAND TODAY 2 WHERE WOULD I LIKE TO BE 3 CAN I GET THERE

4 IF YES, HOW CAN I GET THERE 5 HOW CAN I STAY ON TRACK

Portfolio Management Service

8

Investment Strategy is to safeguard the

Portfolio from three types of risks:

Business Risk

Balance Sheet

Risk

Valuation Risk

• Focus on High Quality

Business

• Exposure preferably to net

cash companies (Cash >

Total Debt)

• Favorable Reward to Risk

ratio

MSSP Investment Strategy

Bottom up Process

Fundamental

Value

Earnings

Momentum

Technical

Momentum

Initial Weight

Incremental Weight

Full Weight

Moat & Specia l S i tuat ions Port fo l io –Performance

Products

Since

Inception

(Annualiz

ed)

Current

YearFY FY FY FY FY FY FY FY

27.01.201

1 to

31.01.201

9

2019 2018 2017 2016 2015 2014 2013 2012

27.01.201

1 to

31.03.201

1

Moat and

Special

Situations

Portfolio

(MSSP)*

15.8% 0.8% 19.9% 14.9% 3.4% 47.5% 22.0% 0.5% 14.8% 2.3%

Average

Equity Weight70.3% 81.2% 78.2% 76.6% 71.3% 66.4% 76.0% 75.7% 47.1% 14.1%

Benchmark

Performance **10.3% -3.7% 13.8% 29.9% -2.3% 43.1% 18.4% 2.4% -7.1% 3.8%

* Portfolio Performance (%), Net of all fees and charges levied by the Portfolio Manager

**Benchmark Performance (%) (Average of BSE 500 And BSE MidcapNotes:

1. Date of inception of MSSP is January 27, 2011.

2. Past performance of MAECL does not indicate its future performance.

3. Returns are cash flow adjusted and time (Daily) weighted returns. Only for FY15 and FY16, returns are after all expenses but before

Performance fees. Rest all years it is after all expenses.

4. The actual returns of clients may differ from client to client due to different timing of investment.

5. Average Equity Weight is calculated as Monthly average of equity weight at end of the month.

Focus on Risk- Adjusted

Returns

Outcome of our Investment Process – In the last Seven years, our Portfolio Drawdown

has been lower during a market turmoil

Past Drawdowns Reason for Volatility MSSP NIFTY Benchmark

Nov-11 to Dec-11Indian Economic

Slowdown-8.5% -23.0% -28.0%

May-13 to Aug-13India CAD & Taper

Tantrum-12.1% -15.0% -22.0%

Aug 15 to Feb-16 China Slowdown Fear -9.5% -22.4% -18.5%

Nov 16 to Dec-16 Demonetization -7.1% -11.7% -13.5%

Sept-18 to Dec-18 Reflation/Trade Wars -9.6% -14.6% -19.2%

Note: Drawdown is the decline from Peak- to- Bottom value in a Portfolio. It reflects the potential risks inherited in the

portfolio during a volatile market. The periods mentioned above is the month when bottom was reached while the peak

periods vary for each index/fund.

“Only when the tide goes out do you discover who’s been swimming naked” – Warren

Buffet

AMC’s CATEGORY STRATEGY NAMERETURNS

1 Month 3 month 6 month 1 Year 2 Year 3 Year 5 Year Since Inception Inception Date

ASK MULTICAP IEP -0.10% 3.70% -0.80% 1.80% 18.10% 14.00% 22.00% 19.20% 25-Jan-10

ASK MULTICAP INDIA SELECT 1.20% 4.30% -2.10% -7.50% 13.20% 10.30% 21.10% 17.00% 4-Jan-10

EDELWEISS SMALL CAP HEXAGON 1.10% 1.20% -11.70% -29.30% 3.70% 3.00% NA 6.80% 1-Sep-15

EDELWEISS MULTICAP RUBIK EQUITY PORTFOLIO 1.70% 3.89% -6.24% NA NA NA NA -9.37% 9-Jan-18

IIFL MULTICAP MULTICAP PMS 3.46% 4.94% 2.84% 1.12% 14.45% 15.50% NA 17.35% 1-Dec-14

IIFL MULTICAP MULTICAP ADVANTAGE PMS 3.09% 6.16% 2.05% 0.23% NA NA NA 2.66% 1-Dec-17

INVESCO MULTICAP DAWN 0.05% 0.12% 3.30% -5.45% NA NA NA 3.01% 28-Aug-17

INVESCO MULTICAP R.I.S.E 1.26% 1.79% -5.40% -14.76% 22.08% NA NA 20.14% 18-Apr-16

INVESCO MULTICAP CATERPILLAR 3.99% 4.36% -2.77% -9.57% -13.25% 12.30% 24.09% 18.24% 26-Jun-06

MOTILAL OSWAL SMALL & MIDCAP IOP 2.60% 4.73% 6.78% 27.43% 4.90% 11.54% 16.69% 12.66% 15-Feb-10

MOTILAL OSWAL SMALL & MIDCAP IOP V2 1.44% 3.41% 7.34% NA NA NA NA -9.07% 15-Feb-10

MOTILAL OSWAL LARGE CAP VALUE 1.48% 1.72% -3.07% -5.38% 10.72% 7.70% 14.60% 22.56% 24-Mar-03

MOTILAL OSWAL MULTICAP NTDOP 1.24% 0.94% -0.68% -6.32% 15.90% 14.99% 25.74% 17.01% 11-Dec-07

RELIANCE LARGE & MIDCAP ABSOLUTE FREEDOM -0.10% 3.00% 0.20% -4.90% 14.40% 10.10% 15.90% 14.90% 24-Sep-04

RELIANCE MULTICAP HIGH CONVICTION 0.20% 4.20% -0.90% -12.00% 12.20% 8.00% NA 17.10% 13-Mar-14

RELIANCE MIDCAP EMERGING INDIA 1.60% 3.30% -5.90% -16.10% NA NA NA 6.40% 7-Mar-17

NIFTY Index LARGE CAP -0.13% -0.62% 1.38% 3.15% 15.21% 10.98% 11.54%

NIFTY MIDCAP 100 Index MIDCAP 2.12 4.20% 1.68% -15.42% 11.61% 10.09% 17.24%

BSE 500 Index MULTICAP 0.80% 0.70% 0.10% -3.10% 14.80% 11.00% 13.20%

BSE SMALL CAP Index SMALL CAP 1.94% 1.91% -8.27% -23.53% 10.49% 7.50% 17.55%

PMS Performance Report of few PMS of which we are the distributor

Mutual Fund Advisory

Types of Mutual Funds

Equity Debt Hybrid & Others

By Capital

• Large Cap

• Mid Cap

• Small Cap

Long Term Balanced Funds

Upto 65% Equity

Sector Funds

• Banking

• Infra

• Technology

• Pharma

• Power

Medium Term Monthly Income Schemes

Over 75% debt remaining

equity

Short Term Gold funds & Gold ETFs

Index Funds

• Nifty Index

• Junior Index

Liquid Funds Fund of Funds

• International Funds

• ETFs

Active or Passively Managed

Open or Close Ended

Investment Strategy

SIP

Equity Link Saving

Scheme ( Get tax

benefit on invested

amount with only three

years lock in period)

SIP STP

SWP ELSS

Systematic Investment

Plan. Amount invested

from your bank as per

instruction. (Monthly,

Quarterly investment

options).

Systematic Transfer

Plan( equity to debt and

debt to equity fund

transfer)

Systematic Withdraw

Plan ( Periodically

withdraw option from

your investment)

Risk – Return Graph Of Different Types Of Mutual Fund

Advantages Of Mutual Funds

Flexibility

Transparency

Well regulated

Tax Benefits

Return potential

Choice of schemes

Liquidity

Low cost

Diversific

ation

Professional Management

Convenient Administration

MF Performance

Top 10 Fund Performance based on last 5 year

Sorted on 5yr returns SIP Investment ReturnsLump sum Investment

Returns

Sr

NoScheme

Inception

Date

NAV

as on

01 Feb

19

1yr 3yr 5Yr 10yr 1yr 3yr 5Yr 10yr

Large cap

1 Axis Bluechip Fund(G) 5-Jan-10 26.50 3.23 11.48 10.71 -- 7.80 17.06 14.82 --

2 ICICI Pru Bluechip Fund(G) 23-May-08 39.21 -6.44 7.35 9.10 12.88 -3.90 16.85 14.36 19.05

Large & Mid cap

3Mirae Asset Emerging Bluechip-Reg(G) 9-Jul-10 48.94 -4.38 10.29 15.80 -- -3.08 22.18 25.56 --

4

Canara Rob Emerg Equities Fund-

Reg(G)11-Mar-05 86.75 -10.25 6.96 12.83 20.29 -8.90 20.34 25.80 28.22

Flexi cap

5 Kotak Standard Multicap Fund(G) 11-Sep-09 32.43 -4.56 7.74 11.05 -- -2.40 18.02 18.44 --

6 HDFC Equity Fund(G) 1-Jan-95 620.78 -4.93 8.80 9.45 12.87 -5.80 20.40 15.69 20.41

Mid cap

7 Kotak Emerging Equity Scheme(G) 30-Mar-07 35.65 -15.78 3.11 10.38 16.41 -13.10 16.82 22.86 21.38

8 Invesco India Midcap Fund(G) 19-Apr-07 46.10 -10.58 6.68 10.26 17.28 -7.20 16.56 20.54 24.92

ELSS (Equity Link Savings Scheme)

9 Aditya Birla SL Tax Relief '96(G) 10-Mar-08 29.91 -8.20 7.80 11.17 14.64 -5.10 16.81 18.76 20.28

10 Axis Long Term Equity Fund(G) 29-Dec-09 40.30 -6.03 6.84 9.76 -- 0.40 14.58 18.07 --

Alternate Investment Fund

Alternative Investment Fund – A new class of Investment Vehicle

Alternative Investment Fund (“AIF”) is a privately pooled investment vehicle which collects

funds from investors for investing it in accordance with defined investment policy.

The Funds are categorized in 3 different general categories:

Category I – Invests in area which government or regulator consider as socially or

economically viable.

Category II – Invests in areas which does not fall in Category I and III and which

does not undertake leverage or borrowing other than to meet day to day operational

requirements.

Category III - Invests in diverse or complex trading strategies and may employ

leverage including through investment in listed or unlisted derivatives.

Categories Of AIF

Criteria Category I AIF Category II AIF Category III AIF

Categorization • Venture Capital

Fund

• SME Fund

• Social Venture Fund

• Infrastructure Fund

• Angel Fund

• Private Equity Fund

• Debt Fund

• Real Estate Fund

• Structured Credit

Fund

• Hedge Fund

• Commodity Fund

• Fund with complex

and diverse trading

strategies

• Long only Fund

• Long – Short Fund

Invest in Listed Securities? Limited ability to invest in

Listed Securities.

Different norms across

sub-categories.

Less than 50%

investments can be done

in listed securities.

Up to 100% investments

can be done in listed

securities.

Leverage No No Yes (Up to 2 times NAV)

Diversification Not more than 25% of the Investible Funds can be

invested in a single Portfolio Entity.

Not more than 10 % of

the Investible Funds can

be invested in a single

Portfolio Entity.

Open Ended/Close Ended Close Ended Close Ended Open or Close Ended

Minimum Ticket Size Rs. 1 Crore Rs. 1 Crore Rs. 1 Crore

Type or Investors Indian, foreign or non-resident Indians by way of issue of units.

Taxation Pass Through Pass Through Not yet Pass Through

Potential of AIF

The AIF Industry is poised to grow in the near future as seen by the past 3 years data of

fund raising which has an absolute growth of 685%. The AIF industry is likely to grow 2 to 3

times in the next 3 years.

The reason for the growth:

SEBI Regulations on investment products such as categorization and rationalization

on Mutual Fund Schemes and PMS can only employ long only strategies such as

invest and hold - the AIF is investor friendly as investors have multiple preference from

a diverse set of strategies employed by AIF.

Growth of HNI’s and UHNI’s population in India.

Favorable policies by the Government for AIF Industry.

Investors have become more knowledgeable due to information available freely.

Insurance

Insurance Sector

Insurance industry in India has seen a major growth in the last decade along with an

introduction of a huge number of advanced products. This has led to a tough

competition with a positive and healthy outcome.

The Indian Insurance Sector is basically divided into two categories – Life Insurance

and Non-life Insurance. India's strong economy and evolving regulatory regime

continue to support growth for its insurance and reinsurance sectors.

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India Density in US Dollars

Remains Lower Versus Peers

NON-LIFE PENETRATION IN %

COUNTRY 2018 2012

NETHERLANDS 7.7 9.5

SOUTH KOREA 5 4.6

UNITED STATES 4.3 4.1

INDIA 0.9 0.7

VIETNAM 0.8 0.9

Moody's reported India's insurance and reinsurance sectors will grow strongly

driven by strong economic growth and evolving regulatory regime.

It said robust GDP expansion, coupled with current low insurance penetration,

should support double digit growth for the non-life sector over the next 3-4

years.

According to coverage by HSBC, the density of India remained lower and that

indicates the potential of the Insurance industry in India looks better. In non-life

insurance, India’s penetration is about 0.9 percentage of GDP. For both Life and

Non-Life Insurance segment, there is huge potential for Indian Insurance

market.

0

50

100

150

FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018

GROSS PREMIUM RETURN (IN US $ BILLION)

Life Insurance

Insurance Sector

Gross premium written in life insurance grew more than 10 percent CAGR while

Non-life insurance gross premium grew with 14 percent CAGR during FY2012-

FY2018. Gross premiums written in India reached Rs 5.53 trillion (US$ 94.5 billion) in

FY18, with Rs 4.58 trillion (US$ 71.1 billion) from life insurance and Rs 1.51 trillion

(US$ 23.4 billion) from non-life insurance.

Over FY12–18, premium from new business of life insurance companies in India

have increased at a 14.0 per cent CAGR to reach Rs 1.94 trillion. The market share

of private sector companies in the non-life insurance market rose from 13.12 per cent

in FY03 to 50.4 per cent in FY19.

Insurance Sector

Insurance offering

Fidelity

Insurance

Group

Medical /

Health

Insurance

Travel

Insurance

Cyber

Insurance

Two Wheeler

Insurance

Marine

Insurance

Fire

Insurance

Life

Insurance

Personal Accident

coverage

Burglary

Insurance

Home

Insurance

Health

Insurance

Group

Accident

policy

Four wheeler

Insurance

Global Presence

REGISTERED OFFICE

B – Wing, Siddhivinayak Towers, Off. S.G. Road, Makarba, Ahmedabad –380051

T: +91 79 6666 9000 | F: +91 79 2970 2196

CORPORATE OFFICE

115, The Summit Business Bay, Andheri East, Mumbai 400093

T: +91 22 26813200

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