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Creating Wealth

Monday, June 11, 2018

Prabhakar Kudva, Co-Founder and Director, Samvitti Capital

Prabhakar Kudva is a successful long only growth investor. He has been selected as one among '40 under 40' Investment managers by AIWMI (Association of International Wealth Management of India). He has been generating market beating returns across multiple years by cherry picking a number of high growth businesses which have turned out to be big winners. In conversation with Dominic Rebello, Prabhakar says, “Our vision right from day one has been to build a pro-customer, technology driven, durable and profitable asset management business.”

What is the idea behind Samvitti Capital?

The spark to start the company was a shared passion of all founders for equity markets. All three of us got started into the markets in our respective teenage years and the beauty of the market is that it is such an evolving species and we keep learning new lessons to this day. Managing other people’s money is a very big fiduciary responsibility and it is as much a business of trust as it of money management. Beyond stock picking and returns, we started Samvitti Capital to provide a transparent, conflict-free, skin in the game and innovative asset management service to the investor community.

How are you different from others?
Some of our key differentiators are:

I.    Owner Operated – The fund managers are also the promoters of the company – which is very rare today if you look around most asset managers. Hence there are unlikely to be any surprises in terms of sudden changes in the fund managers or investment strategy. Not only that we have significant portions of our net worths invested in the same funds as our investors.

II.    No Conflicts – We have no commercial associations with brokers/third parties and have no incentives to churn. In fact we work with discount brokers to minimize the costs for our investors.

III.    Vast Market Experience – Experienced several market cycles and having a healthy respect for risk-return tradeoffs in different kinds of market environment. We have picked several winners along the way much before they became mainstream.

IV.    Technology driven – In our previous avatar we used to build technology for capital markets. We have a large experience and understanding in how to leverage technology for risk management, decision support systems and driving down costs for our investors. We apply this knowledge everyday at Samvitti Capital.

V.     A Young Team – Having started early in the markets  very early we are a good mix of experience and age. Our investors have  a long runway for association with us.

Tell us about Samvitti Capital's recently launched AIF?
Samvitti Capital is the sponsor and investment manager to the following Category III AIF funds formed under the Securities and Exchange Board of India Alternative Investment Fund Regulations (2012):
1.    Samvitti Capital Alternative Investment Fund – This is a three year closed ended long-only AIF. The Fund is benchmarked against the CNX Nifty Index over the life of the fund – a first. This fund is closed for subscriptions.

2.    Samvitti Capital Alpha Fund – This is an open ended long-short fund with quarterly redemption which seeks to generate absolute returns by positioning itself on both the long and short side of the markets using various strategies.

3.    Samvitti Capital Alpha Opportunities Fund – This is an open ended fund which will focus on taking advantage of market volatility by employing short term strategies like price momentum, event based momentum, index long-short, special situations et al. This fund will carry limited positional exposure across days and hence cut down volatality significantly when compared to a buy and hold approach.

Your vision for the company?
Our vision right from day one has been to build a pro-customer, technology driven, durable and profitable asset management business. This means we are not designed as asset gatherers, we would rather have a few clients who understand equity markets and our products very well and who stay with us for a long time.

Where do you see yourself five years down the road?
We would like to see the Samvitti brand scaling up steadily in the industry and to resonate with performance and integrity in equal measure.

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