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Mid and Small Cap

Narnolia Financial Services Ltd
PMS Small & Mid Cap
Benchmark
S&P BSE 500 TRI
Inception Date
4 May 2015
Min. Investment
₹50,00,000
AUM (Cr.)
₹78.76
SIP Available
Yes
STP Available
Yes

Investment Strategy

Investment Approach

The investment process employs a proprietary stock selection model. This model integrates a multi-year, quantitative approach, incorporating fundamental data and a multiple-criteria objective (MCQ) methodology for identifying investment opportunities. Key considerations include earnings momentum, capital allocation strategies, and qualitative financial ratios, with a preference for resilience over high-beta exposures.

Investment Objective

The Narnolia Multi Cap Strategy aims to achieve superior returns relative to the Nifty 500 index, its benchmark, while maintaining a comparable risk profile over the long term. This objective is pursued through active management of portfolio beta against the Nifty 500 and the opportunistic generation of alpha, driven by a comprehensive, proprietary bottom-up investment model. The portfolio is constructed with a focus on consistent, moderate gains rather than speculative high-risk, high-reward outcomes. This approach enhances portfolio resilience, particularly during periods of market downturn or consolidation, by mitigating the adverse impacts of deleveraging in such market conditions.

Performance Returns

Returns as on 2025-12-31

Trailing Returns

Period Strategy Benchmark Outperformance
1 MONTH -0.24% -0.24% 0.00%
3 MONTHS 2.60% 5.02% -2.42%
6 MONTHS -3.13% 1.63% -4.76%
1 YEAR -4.64% 7.63% -12.27%
2 YEAR 11.88% 11.65% 0.23%
3 YEAR 21.63% 16.41% 5.22%
5 YEAR 16.86% 16.82% 0.04%
SINCE INCEPTION 18.66% 13.72% 4.94%

Calendar Year Performance

Year Return
CY 2025 -4.64%
CY 2024 31.25%
CY 2023 43.75%

Financial Year Performance

Year Return
FY 26_YTD 10.75%
FY 25 13.37%
FY 24 49.19%

Past performance is not indicative of future results. Returns are subject to market risks.

Fund Managers

Shailendra Kumar serves as Co-Founder and Chief Investment Officer at Narnolia. He possesses over twenty years of profound expertise and comprehension in fund management and investment advisory. Under his guidance, Narnolia achieved recognition as the ‘Most Consistent Portfolio Manager of the country in 2018 & 2019’ and was also acknowledged as the ‘Pioneer and 2nd largest Investment Advisor of the country in 2021. His investment philosophy centers on a ‘growth-in-value’ approach. Mr. Kumar holds a postgraduate degree in Management & Systems from IIT, Delhi. His academic contributions are significant, evidenced by his authorship and mentorship of various financial publications and research papers. He has also conducted substantial work in the areas of corporate valuations and derivative pricing.

Portfolio Details

Portfolio Composition

Large Cap
0%
Mid Cap
0%
Small Cap
0%
Cash & Equivalent
0%

Top 5 Holdings

  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A

Top 5 Sectors

  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A

Portfolio Characteristics

total number of stocks
0
top 5 stocks percent
N/A
top 5 sectors percent
N/A
average market cap
41071.09
portfolio age
10 Yrs, 7 Months
sip
Available
stp
Available

Fee Structure

Fixed Fee

AMC: 2.5%

Variable Fee

AMC: 1.25%

Hurdle: 10%

Profit Sharing: %

Exit Load

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Disclaimer

Returns are as of 2025-12-31. Returns for periods up to one year are not annualized. Returns for periods exceeding one year are annualized. Returns are computed using the Time Weighted Rate of Return (TWRR) methodology and are provided by the respective Asset Management Companies (AMCs). 'ND' denotes 'No Data', and 'NA' denotes 'Not Applicable'. The performance of the respective Benchmark Indices is presented above. Benchmark(s) are as defined in SEBI circular no. SEBI/HO/IMD/IMD-PoD-2/P/CIR/2022/172 dated December 16, 2022, APMI circular no. APMI/2022-23/02 dated March 23, 2023, and Revised Annexure-1.

This page is provided solely for general informational purposes in relation to the strategy and is based on publicly available information. While reasonable care has been taken to ensure accuracy, the information may not reflect the most recent updates.

Nothing on this page constitutes investment, financial, or legal advice. Investment decisions should be made after consulting a qualified advisor and reviewing official scheme documents.

Last Updated: January 2026 · Published by Affluense AI (affluense.ai)