Our Maiden Offering: 3P India Equity Fund 1

Category: Cat III AIF

Tenure: Open-Ended Scheme

First allotment date: 04 May 2023

Fund Managers: Mr. Prashant Jain and Mr. Ashwani Kumar

Assets under Management: INR 14,750 crore as on 31st August 2025.

Fund Features

Objective: The Fund has been set up with the objective to achieve long-term capital appreciation by investing in permissible securities/instruments in accordance with Memorandum and the Regulations.

Investment Philosophy: Creating a portfolio of sustainable and reasonably valued businesses represents the core of 3P Investment Philosophy. Avoiding weak businesses lowers the risk of permanent loss of capital/returns. Effective diversification across key economic and business variables reduces portfolio risk. Further, risk in equities reduces as the time horizon increases, hence we aim to follow a low churn strategy. A low churn strategy also reduces costs.

Portfolio Characteristics: In line with the Investment Philosophy of 3P, nearly 85% of the Fund (in our judgement) comprises of companies that enjoy leadership / strong positions in respective businesses and should be able to increase / maintain their market share. The portfolio is well diversified across sectors and key economic variables. The Fund is overweight Insurance and Pharmaceuticals and is underweight Automobiles, Consumer Staples, Materials and Software & Services. Exposure to Banks & Financials and Telecom is close to market weights.

In our opinion, portfolio companies follow good ESG practices. Interestingly, companies in conventional power have plans to rapidly scale up their renewable portfolio.

Small and Mid Caps are once again expensive post the recent outperformance. It is prudent to follow a predominantly large cap strategy at this juncture.