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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"Itus Fundamental Value Fund delivered strong downside protection in Q3 CY2026, dropping 1.98% net of fees versus the Nifty 50 TRI's 4.91% decline. The fund remains roughly flat net of fees year to date while the index is down over 12%."
Itus Fundamental Value Fund seeks long-term capital compounding by investing in businesses where earnings visibility, balance-sheet strength, and competitive positioning align with reasonable valuations. During the July–September 2026 quarter, the fund declined 1.98% net of fees, outperforming the benchmark Nifty 50 TRI, which fell 4.91%. Calendar year to date, the fund remained roughly flat net of fees against a benchmark decline exceeding 12%. Performance was protected by strict valuation discipline, avoidance of IT momentum, and resilient underlying operating results across portfolio companies, which generated 34.2% trailing revenue growth and 50.4% adjusted profit growth. The manager identifies valuation compression—rather than earnings contraction—as the primary cause of broader index weakness, with five mega-cap names driving over 70% of market losses. Key macro risks monitored include sustained oil price spikes, credit cost normalization in banking, and the durability of domestic liquidity absorbing foreign institutional selling. The fund maintains 50.0% in large caps, 30.2% in mid caps, 13.7% in small caps, and holds a 6.1% cash buffer to preserve liquidity.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
50
Growth Outlook
50
Risk Appetite
50
Capital Deployment
50
Forward Guidance
50
Language Signal
50
Perceived Risk
50
Opportunity Density
50
Time Horizon
50
