ASK Investment Managers Financial Opportunities Brief

Key Investment Objectives and Attributes

• Capital preservation* over a period of time

• Capital appreciation over a period of time

• Achieved through Long-term investments in high-quality companies with strong growth prospects.

Size of the opportunity

• Size of pond v/s size of fish
• Dominance
• Resilience
• Liquidity

Quality Of Business

• High quality of business (Superior RoCE)
• Strong moat. Impregnability
• Sustainability
• Key pivot of strong wealth creation

Earnings Growth

• Quantum
• Consistency
• Durability
• Predating (Early v/s Later)
• Compounding power

Value

• Favorable Price-Value Gap
• Margin of safety

BFSI: The best way to play Consumption + Savings + Investment

Significant Outperformance of Bankex vs Nifty over long period

ASK Financial Opportunities Portfolio

• Investment Objective: To build an investment approach of around 10-15 businesses representing quality and superior long-term compounding potential, largely representing from the Banking and Financial Services industry
• Investment Approach Construct: High conviction investment approach of carefully identified businesses across a range of market capitalization representing the Banking and Financial Services industry. Focused investment approach of high-quality and high-growth businesses that are positioned for outstanding compounding in the long-term high

Investment Approach Sector Breakup & Performance

• Investment Approach Sector Composition (%)

• Market Cap Classification (%)

Risk Management

• Integrated risk management and review mechanism throughout the investment process
• Disciplined Buy and Sell mechanism
• Discipline of buying businesses with a reasonable margin of safety
• Role of compliance and risk management teams - ongoing monitoring and reporting