India Opportunities
Fund.
A cyclical approach to investing in India. We avoid chasing short-term trends, focusing instead on identifying opportunities that offer strong absolute returns through various market cycles.
Why Buoyant?
Decades of Experience
Founded by Sachin Khivasara, Jigar Mistry, and Viral Berawala, each with over 20+ years of experience in India's equity market. The team has worked together for more than a decade.
Top Down & Bottom Up
A cyclical approach. We avoid chasing short-term trends and focus on identifying opportunities that offer strong absolute returns through bull or bear markets, growth or value phases.
Single Strategy Focus
We run only one strategy to ensure no product conflict and complete resource focus. The Buoyant Opportunities scheme manages over $1,200 MN with ~6.7% alpha since inception.
Skin in the Game
Founders co-invest in the fund. We do not levy entry loads, exit loads, or set-up fees, ensuring complete alignment with our investors' goals.
Consistent Alpha.
Scalable Capacity.
Our strategy is built to handle scale without diluting performance. We focus on "Growth at Reasonable Price" (GARP), prioritizing predictable cash flows and scalable business models.
- ✓ 9-year track record with 22.2% CAGR
- ✓ Strong valuation discipline (Reverse DCF)
- ✓ Available to international investors via SMA
Why India Now?
Projected to become the world's 3rd largest economy by 2031 with a GDP of $6.8 Trillion.
Demographics
Contribution to global working-age population growth by 2031. 140M households entering the middle class.
Digitization
Active internet users driving formalization. Rapid financialization of savings away from physical assets.
Leverage
Low household debt provides ample capacity for leverage-led consumption and growth, predominantly financed domestically.
Cyclical Stance
We do not believe in static "Buy and Hold". We shift our cyclical stance based on fundamental and market signals to protect capital or capture alpha.
Core Portfolio
Market leaders, high free cash flow, stable return on capital. Aimed at capital preservation.
Satellite Portfolio
Cyclicals, turnarounds, challenger opportunities. Aimed at capturing high alpha.
3-Tier Risk
Stock, Portfolio, and Liquidity checks. Hard limits on sector (25%) and stock (10%) exposure.
The Engine
1. Idea Generation
Soft coverage ~500 stocks. Plant visits, data analysis.
2. Thesis Formation
Structured thesis detailing positives, risks, & valuation.
3. IC Presentation
Rigorous debate and challenge by Investment Committee.
4. Position Building
Gradual weight building based on liquidity.
Institutional Infrastructure
We have invested heavily to ensure Buoyant is a sustainable investment vehicle with robust compliance and technology.
Founders
Jigar Mistry
22+ years exp. Ex-Director Research at HSBC. CA & CFA. Specialist in BFSI & Strategy.
Sachin Khivasara
24+ years exp. Ex-Nippon AMC, Enam. CA & Cost Accountant. Deep expertise in Autos & Capital Goods.
Viral Berawala
23+ years exp. Ex-CIO Nippon Life Insurance ($3B+ AUM). CA & IIM-A. Focus on IT, FMCG, Oil & Gas.
Extended Research Team
Natasha Lulla
16 years experience. Ex-Portfolio Manager at Aditya Birla AMC and Goldman Sachs.
Analyst Team
Contact us
B-3501, Kohinoor Square, N C Kelkar Marg,
Dadar West Mumbai, Maharashtra 400028, India
offshore@buoyantcap.com | +91-22-6931-9999
