Avendus India Fund II ranked top in midcap funds category

Avendus Fund II has also been ranked as the leader among 70 midcap funds.

September 06, 2013 11:27 IST | India Infoline News Service
Avendus PE Investment Advisors Ltd., a subsidiary of Avendus Capital, which focuses on private investment in public enterprises (PIPE), has released its performance analysis data as on June 30th 2013. As per Morningstar, the leading independent investment analysis firm, Avendus Fund II, has given annualized returns of 8.8 % since inception for the period January 2011 to June 30th 2013. In comparison, BSE small cap funds and India OE Small and Midcap mutual funds have given a return of -19.4% and -4.1% respectively. Avendus Fund II has also been ranked as the leader among 70 midcap funds.
Manoj Thakur, CEO, Avendus PE Investment Advisors, said, “The investing objective of the fund was to deliver returns for itsinvestors through long term investing in listed small and midcap companies, which are identified using a rigorous private equity evaluation approach. The fund has delivered robust returns in spite of the prevailing unpredictable environment, proving the merit of the evaluation style and investment strategy. “
The fund invests in fundamentally strong under researched midcap companies (market cap < US$ 1billion), using the private equity evaluation approach which entails an in-depth primary research, multiple management meetings, thorough commercial diligence including several customer feedback and reference checks on management with emphasis on active engagement with investee companies.

The Fund typically takes equity stakes of less than 5% through both primary and secondary investments. While being sector agnostic the fund has a preference for sectors which benefit from India’s rising consumer discretionary spend, rural prosperity and rapid urbanization. It selectively invests in companies undergoing special situations like corporate restructuring, entry into new business, step jump in profit margins etc.

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