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Re-entering the mutual fund arena, the mid-cap mogul, Kenneth Andrade launched his maiden equity fund, Old Bridge Focused Equity Fund, in 2024. One of the finest in the money management business, Andrade has a reputation for delivering remarkable returns. In this interview, Andrade shares his stock selection framework, the strategy behind his debut fund and insights into how he identifies business cycles. Please help us understand your stock selection framework. In a previous interaction with Value Research, you mentioned that 'every business is cyclical', even the ones we think are not. How do you time market cycles when picking stocks? Currently, we have just one offering: Old Bridge Focused Fund. Regarding the construct of the portfolio, I've held a reasonably concentrated portfolio in my earlier investing stints, and I'm used to doing that. Which is why we chose the focused category. It is mandated to have only up to 30 companies in a portfolio. At least in the near term, until we get some critical size, I don't see the focused fund's portfolio going beyond 25 businesses. So, I have to pick 25 companies from the underlying benchmark, BSE 500. Now, when you first look at it, 25 companies out of 500 is 5 per cent of the entire universe. In short, the portfolio will tend to get a little volatile as it doesn't have every constituent of the benchmark. It will also be prone to a structural choice of active shares. The portfolio consists of over 80 per cent active shares in this entire portfolio. Everybody pursues companies with the pote
This article was originally published on April 08, 2024.
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