Our performance · 02 / 04
Portfolio & diversification.
Capital is managed under a single systematic mandate rather than a menu of products, so every investor is exposed to the same research, the same risk discipline and the same published record.
Figures as at 21 September 2026
Portfolio overview
Capital over time
Capital under management (₹ Cr)
Up 1,652% since the first relationship in 2023.
View data table
| Year | Capital | Accounts |
|---|---|---|
| 2023 | ₹0.65 Cr | 1 |
| 2024 | ₹9.85 Cr | 14 |
| 2025 | ₹10.47 Cr | 16 |
| 2026 | ₹11.38 Cr | 19 |
Investor accounts
17 opened since 2023; none closed.
View data table
| Year | Accounts |
|---|---|
| 2023 | 1 |
| 2024 | 14 |
| 2025 | 16 |
| 2026 | 19 |
What the trend shows
Two phases. 2023–24 was capital gathering, including the firm's first institutional mandate. 2025–26 has been relationship gathering: nine further accounts adding ₹1.54 crore, more than doubling the number of families the firm works with, with growth of 6.3% in 2025 and 8.7% in 2026.
Where the capital came from, and where the profit sits
Capital raised, by year
Share of today's ₹11.38 Cr, by the year it came in.
- 2023 · 5.7%
- 2024 · 80.8%
- 2025 · 5.5%
- 2026 · 8%
View data table
| Year | Share of capital raised |
|---|---|
| 2023 | 5.7% |
| 2024 | 80.8% |
| 2025 | 5.5% |
| 2026 | 8% |
Profit and distributions (₹ Cr)
₹5.76 Cr of trading profit since inception. Cash returned equals 17.6% of contributed capital.
View data table
| Measure | ₹ Cr |
|---|---|
| Booked profit | 3.89 |
| Open, marked to market | 1.88 |
| Returned in cash | 2.00 |
Diversification by design
Return against drawdown
Backtest CAGR and maximum drawdown for seven strategies. Amber is measured against its benchmark, so it is not plotted.
- Live
- Paper trading
View data table
| Strategy | CAGR | Max drawdown | Sharpe | Status |
|---|---|---|---|---|
| Canopy | 33.1% | −2.49% | 2.14 | Live |
| Heartwood | 35.6% | −2.47% | 3.15 | Live |
| Amber | 74.7% | — | 2.13 | Live |
| Grove | 27.2% | −0.60% | 3.72 | Live |
| Twin Oak | 38.0% | −6.00% | 3.14 | Paper trading |
| Willow | 44.0% | −7.37% | 4.46 | Paper trading |
| Cedar | 60.0% | −9.00% | 3.50 | Paper trading |
| Birch | 56.0% | −7.00% | 2.15 | Paper trading |
No single strategy carries the book
Return sources are spread deliberately across four markets. Backtested returns range from 27.2% to 74.7%, with the market-neutral book at the steady end.
- Index options
- Equities
- Gold
- Foreign exchange
Portfolio distribution
Share of the book by asset class.
- Stocks60%
- F&O30%
- Commodity5%
- Crypto5%
View data table
| Asset class | Share |
|---|---|
| Stocks | 60% |
| F&O | 30% |
| Commodity | 5% |
| Crypto | 5% |
Rooted in curiosity.
Driven by evidence.
The partners will walk any prospective investor through the strategy records line by line, including the periods that did not work.