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It is the time of the year to take stock of how things have panned out in the financial year gone by. Clients have a choice of three benchmarks to choose. The first benchmark being a low risk benchmark such as the SBI one year FD rate/CPI rate of inflation +2%, the second being the […]

SEBI has invited comments to its recently published “Consultation Paper on Amendments to SEBI (Investment Adviser) Regulations 2013”. It is not clear whether the contents of this consultation paper released on the 2nd January 2018 is over and above the contents of the two earlier consultation papers put out on the same subject in October

A number of clients have written in asking for our comments on the “Bail In” clause mentioned in clause 52 of the Financial Resolution and Deposit Insurance Bill (2017) tabled before the Joint Parliamentary Committee in August this year. The “Bail In” clause gives power to a body called the “Resolution Corporation”” appointed through the powers of

In the current financial year, risky portfolios managed by us and benchmarked to market indices such as the BSE SENSEX price index or the BSE Small Cap Price Index have been severely under-performing. While I have been witnessing this underperformance since January this year, I felt it would be prudent to give this sometime before

The CFA Society of India had recently conducted a Value Investing Summit in Delhi. Eager to listen to the best minds in the industry, I enrolled for the conference in which Mr. Raamdeo Agrawal of Motilal Oswal was one of the speakers. Mr. Agrawal in his inimitable style presented his journey as a presentation titled

In mid July, I had the good fortune of being a part of a panel discussion on robo-advisory in India. I was the only representative of a bricks and mortar fee only Investment Adviser on the panel. I was invited onto the panel to provide a perspective of how a fee only Investment Adviser in

The subject of this month’s blog is a shameless copy of a chapter from the book Complications by Dr. Atul Gawande. The book provides a fascinating insight into the error prone world of doctors. In the chapter “When doctors make mistakes”, Dr. Gawande takes us through a near fatal incident involving a patient for whom he was

The month of April is busy for Aroha Capital. It is the month of the year when client invoices are raised and clients cut their cheques to us. With growth in our client base and the quantum of our outperformance becoming non-trivial, we have had the pleasure of discussing with many of our clients our

While every client is aware of the return generated in her portfolio for the financial year just ended, I would like to take some time to present on how Aroha Capital has performed on a composite portfolio basis. As explained earlier, every client has anyone of the following benchmarks – (a) the low risk State

When I receive enquiries on the viability of Portfolio Managed Services (PMS), amongst the many pointers that I put out to prospective investors is to draw attention to the concept of High Watermarking and to ensure their PMS fund manager uses it to calculate performance fee. In the home page of our website under the