Capital at risk: The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.
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Investment Philosophy
We are bottom up investors with a business owner’s perspective who seek to deliver superior absolute returns over the long term. We operate in a market with historically strong and consistent earnings growth where volatility has provided regular mispriced entry points. The team believes that the stock market is mostly efficient most of the time, and so it looks for inefficiencies with the expectation that the market will eventually allow such ideas to turn profitable.
Investment Process
The objective of the process is to ensure that the investment philosophy is implemented by bringing discipline and temperament. The team looks to identify a mix of opportunities that can deliver excess returns and such opportunities must be available across market cycles to allow for repeatable outperformance. They must also be scalable to ensure the construction of a diversified portfolio. The team believe that investment research is a combination of science and art. The former consists of setting a clear framework using metrics and quantitative criteria which are comparable across companies and industries to narrow the investible universe to a “focus list”. The latter is the less tangible part of investment skill that is based on experience driven intuition.
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Management Team
Gaurav Narain - Principal Adviser
Gaurav Narain joined Ocean Dial in November 2011, having been immersed in the Indian equity market for the previous 18 years. He has held senior positions as both a fund manager and a senior equities analyst in New Horizon Investments, ING Investment Management India and SG (Asia) Securities India. He holds a Masters degree in Finance and Control and a Bachelor of Economics degree from Delhi University.
Shahil Shah - Assistant Fund Manager & ESG Analyst
Shahil Shah was part of the original Ocean Dial investment team which was set up in 2005. He specialises in Telecommunications, Consumer, Healthcare, and Media sectors, and is responsible for integrating ESG analysis into the investment process. He holds a Masters in Commerce and Finance from Mumbai University and is based in London.
Saurabh Chugh - Analyst
Saurabh Chugh has been a part of the original Ocean Dial investment team since 2006. He specialises in Information Technology, Energy, Transport, Infrastructure and Soft Commodities. He holds an MBA in Finance from Nirma Institute of Management, Ahmedabad and is based in Mumbai.
Jainam Vora - Analyst
Jainam has completed his Bachelors in Business Administration (BBA) from NMIMS University, Mumbai. He is passionate about understanding businesses and in the quest has done multiple internships ranging from a fertilizer company such as Coromandel International to India’s largest non-banking finance company Bajaj Finance. Prior to joining us, he interned at ValueQuest Investment Advisors where he looked after capital goods sector and new age platform companies. He is also preparing for his CFA exams. Jainam is the newest addition to the research team and brings a lot of energy and fresh perspective.
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