Stoic Investing

STOIC M.A.H.I. FUND

M.A.H.I.- MACHINE’S APTITUDE, HUMAN INTELLIGENCE

Fund Presentation

Who we are?

Stoic M.A.H.I. Fund is an actively managed fund that utilizes a unique, evidence-driven, rule-based approach to investing in equities, going beyond conventional methods. Our focus is to generate returns for our Investors across market cycles with minimum volatility. Our years of research has given us a framework that leverages technology and human intelligence to simplify and strengthen our investment decision making.

Why M.A.H.I.?

The M.A.H.I. Way

Risk Management- What does the evidence say?

“Lot of investor’s focus is on what stocks to pick, but in Investing, what is not to be done is more crucial than what is to be done. That is why our first focus is to eliminate rather than select”.

Based on the evidence, we have identified sources of risk and built our processes of mitigating them

Edit Content

Market rarely pays for businesses with

  • Poor industry dynamics
  • Crooked managements
  • Shady Corporate Governance Practices

Our Process
In different sectors, based on industry characteristics and operating matrices of companies, businesses are classified as:

The classification is validated with our experience and past observations. The common fundamental parameters also validate our output While Recent Starts have better price performance than structural businesses, it is accompanied with very high volatility and in small bursts of price performances.
Edit Content
Companies with huge gap b/w “What we see” and “What is” are often punished by markets
  • Poor Accounting Practices
  • Fraudulent Transactions

Our Process
Forensic Framework created in collaboration with renowned forensic expert : Mr. Nitin Mangal. There are different critical parameters and different threshold values based on sectors. A comprehensive forensic score is created  to filter out the ‘bad apples’.

Edit Content

Market rarely pays for businesses with

  • Poor industry dynamics
  • Crooked managements
  • Shady Corporate Governance Practices

Our Process
Based on the relevant operating parameters of a particular sector, considering the cyclicality, seasonality, volatility of fundamentals and most importantly the financial performance history, the companies are valued in following buckets

The methodology when tested along with business quality for the returns generated gets validated empirically. For a long history, we see that when ranked the companies on return profile, the valuation is often the most critical factor in returns.

Edit Content
Often despite picking up winners, many portfolios generate sub-par returns because of mismanagement of allocation strategies at portfolio level.
Our Process
Based on evidence driven examination of key characteristics of the winning stocks, Stoic Portfolio Construction process bifurcates stocks in different ‘Value Buckets’:

Mind Behind M.A.H.I.

Puneet Khurana, CFA®

Puneet Khurana, CFA®, a pioneer in developing an evidence-driven approach to portfolio management, he prioritizes primary information and fundamentals over market narratives. He firmly believes that investing is negative art and thus focuses on risk mitigation through careful elimination of potential pitfalls.
With a proven track record of identifying early winners across diverse sector, he has successfully managed a Billion-Dollar Hedge Fund and has 10 years of experience in equity advisory.
Know Him Better

The Stoic Advantage

The “Stoic Advantage” lies in the fund’s flexible and evidence-based approach to investment decision.
Edit Content
Markets don’t just give opportunities in our favorite sectors. Even though some sectors are more structurally positive than others, we go where the where evidence of Value & Fundamental strength exists & we expand our knowledge base to invest in those opportunities and strongly believe in not chasing the crowd and momentum.
Edit Content

If we find a sector showing promise, we don’t simply ignore it because it is out of ‘competence zone’. Investing is about constant learning and expanding the circle of competence. Instead of shying away from unfamiliar sectors, we embrace opportunities to learn and invest in new areas where evidence supports potential returns.

Edit Content

We recognize that value can be found across different market capitalizations. Ideally, we prefer mid and small caps but on occasions more value is in large caps vis a vis mid and small cap companies and if evidence suggests greater value potential, we shift our focus.

Fund at a glance

Fund Category

AIF - CAT 3

Inception

December 9, 2024

Benchmark

NSE 500

Market Cap

Across the market

Stocks in Portfolio

25-30

Investment Approach

M.A.H.I. Way

Investment Style

Good Quality at Reasonable Valuation

Investment Horizon

Medium to Long Term

Learn more about us
Schedule a call with us to start your investing journey

FAQs

Category III AIFs are investment funds that employ complex trading strategies, including leverage and hedging, to generate short-term returns. These funds can invest in a variety of financial instruments, such as listed and unlisted securities, derivatives, and structured products.

As per the SEBI Regulations, the minimum investment amount is ₹1 crore.

Income earned by Category III AIFs is subject to taxation at the fund level. When you withdraw your investment in the AIF, you do not have to file for or pay any taxes.

Category III AIFs invest in a broad range of assets including:

  • Securities of listed and unlisted companies
  • Derivatives
  • Structured products
  • Other AIF units

There is no lock-in period, however 2.0% exit load will be charged if redemption occurs within 12 months of date of issuance of units.

When you invest in the AIF, the units will show up in any existing demat account of yours. The value of these units will be updated on a monthly basis. You will also receive account statements in your registered email and will be able to login to our RTA’s portal to download portfolio factsheets, tax reports and other relevant documents.

Scroll to Top

Puneet Khurana, CFA®, a pioneer in developing an evidence-driven approach to portfolio management, he prioritizes primary information and fundamentals over market narratives. He firmly believes that investing is negative art and thus focuses on risk mitigation through careful elimination of potential pitfalls.

With a proven track record of identifying early winners across diverse sector, he has successfully managed a Billion-Dollar Hedge Fund and has 10 years of experience in equity advisory.

Qualifications

  • CFA®, USA
  • MBA in Finance & Strategy, MDI Gurgaon
  • Member of Mensa (Largest and Oldest High-IQ society of the world)

Experience
Research Head at a Billion-Dollar Hedge Fund

  • Effectively integrated technology into the research process improving fund’s capabilities in terms of quality, depth, and efficiency
  • Developed exhaustive forensic and corporate governance frameworks to avoid potential “landmines”.

Equity Portfolio Advisory Experience

  • 10 years of experience in managing and advising equity portfolios for clients
  • Track record of identifying early winners spanning a diverse range of sectors, including consumer goods, pharmaceuticals, IT, chemicals, and commodities like steel and textiles

Industry Expert and Academic Contributions

  • Adjunct faculty member at top-tier institutions such as IIM Indore, IIT Delhi, and MDI Gurgaon, teaching Business models, Valuations, and Behavioural Finance