Karma - Capital - Domestic Factsheet-November - 2023 Final

2023
NOVEMBER
KARMA WEALTH BUILDER
MAGNOLIA
LOTUS
JASMINE
FACTSHEET
MARCH 2023
www.karmacapital.co.in 3
FACTSHEET
NOVEMBER 2023
Strategy Snapshot
Scheme Karma Wealth Builder (Long Only)
Investment Style Growth At Reasonable Price
Strategy Market Cap and Benchmark Agnostic
Benchmark BSE 500 TRI
Investment Approach
Karma Wealth Builder seeks to provide superior returns over longer time frames (5 to 7 years) and across market cycles. It
aims to capture the India growth story by investing in listed equities by identifying investment ideas through bottom-up
research. The bottom-up approach focuses its analysis on specific characteristics and micro attributes of an individual stock.
The approach is benchmark agnostic with the aim to deliver superior risk adjusted returns through differentiated portfolio
with high active share.
Our ‘Growth At Reasonable Price’ (GARP) strategy is underpinned on constructing a high conviction concentrated market-cap
agnostic portfolio investing across sectors. The appropriate benchmark to compare performance would be BSE 500 TRI as it
matches with our market- cap agnostic investment approach. The investment approach is subject to various risk like no
assurance of investment returns, political, legal, social and economic considerations of investing in India, inflationary
pressures and liquidity risk.
Rolling Average CAGR Returns
20%
17.3%
18%
14.5% 15.0%
16% 14.3%
12.7% 13.2%
14% 11.7% 12.3%
12%
10%
8%
6%
4%
2%
0%
1 Year 3 Years 5 Years 10 Years
Karma Wealth Builder BSE 500 TRI
Note: Returns as on November 30, 2023; INR returns are the primary returns. Returns are based on net of fees & taxes since inception for discretionary portfolio. From March 2020
returns are based on TWRR method as per SEBI Regulation. The rolling return of the Karma Capital and benchmark is the average of all the rolling return calculated every month for the
respective period since inception.
Performance Summary
40%
33.8%
35% 30.1%
28.4%
30%
25% 20.3% 19.9%
20% 17.1% 16.7% 16.0% 15.6%
13.4%
15% 9.3%
10% 7.1%
5%
0%
1 Month YTD 1 Year 3 Years 5 Years 10 year
Karma Wealth Builder BSE 500 TRI
Note: Returns as on November 30, 2023; INR returns are the primary returns. Returns are based on net of fees & taxes since inception for discretionary portfolio. From March 2020
returns are based on TWRR method as per SEBI Regulation. Returns > 1 year are annualized.
www.karmacapital.co.in
FACTSHEET
NOVEMBER 2023
Please refer this link ( https://tinyurl.com/mr3ucm2v) with reference to performance data related to clause 2.13 of SEBI Circular dated
16th Dec'22.
Monthly Performance Contribution: Top Contributors and Detractors
Contributors Alpha Generated Detractors Alpha Detracted

Zee Entertainment Enterprises
Alkem Laboratories Ltd 1.78% -0.20%
Ltd
SBI Cards And Payment
Tata Motors Ltd - DVR 1.09% -0.02%
Services Ltd
Network 18 Media & Investments Ltd 0.97% - -
Top 10 Holding Sector Exposure*
Security
Health Care 23.0%
Tata Communications Ltd
Media & Entertainment 19.6%
Zee Entertainment Enterprises Ltd
Communication Services 15.6%
Tata Motors Ltd - DVR
Automobiles & Components 14.1%
Alkem Laboratories Ltd
Financials 10.7%
Cipla Ltd
Industrials 10.5%
ICICI Securities Ltd
Utilities 2.0%
Bharti Airtel Ltd
SBI Cards And Payment Services Ltd Others 0.3%
Jubilant Pharmova Ltd Cash 4.1%
TV18 Broadcast Ltd

*Sector classification is as per MSCI-GICS 2018. As on 30 November 2023.
Portfolio Concentration Equity Market Capitalization
Particulars Top 5 Top 10 MCAP Classification
Karma Wealth Builder 41.5% 66.1%

4.1%
Avg. Holding Active Weighted MCAP 32.4%

Period (Years) Share (INR Cr.)
Large Cap
5.3 94.2% 67,564
33.2% Mid Cap
Small Cap
Risk Parameters 1 Year 3 Years Cash
Standard Deviation 11.5% 15.6%
Beta 1.09 1.04
Information Ratio 2.24 1.33 30.3%
Sharpe Ratio 1.98 1.92 Data as on November 30, 2023

For MCAP: We have considered AMFI data NSE MCAPs as on June 2023.
Average Portfolio Turnover 0.23x 0.62x Large cap: Top 1-100 Co., Mid cap: 101-250 Co., Small cap: 251 onward Co.
MCAP Cutoff (Rs Cr): Large Cap > 49,555, Mid Cap 49,555– 17,412, Small Cap < 17,412
FACTSHEET
NOVEMBER 2023
Key details
Market Cap Orientation All Cap
Portfolio Manager Rushabh Sheth
Fee Structure
Option Fixed Fee p.a Hurdle Rate Performance Fee Highwater mark
1 2.5% N.A. N.A. N.A.
2 1.5% 10% 20% Yes
Exit Load
Within 2 Years 1%
After 2 Years Nil
FACTSHEET
NOVEMBER 2023
FACTSHEET
NOVEMBER 2023
Strategy Snapshot
Scheme Karma Capital Magnolia
Strategy Benchmark Aware
Benchmark NIFTY 50 TRI
Investment Approach
Karma Capital Magnolia (KCM) seeks to provide superior returns over longer time frames (3 to 5 years) and across market
cycles. It aims to capture the India growth story by investing in listed equities by identifying investment ideas through bottom-
up research. The bottom-up approach focuses its analysis on specific characteristics and micro attributes of an individual
stock.
Our ‘Growth At Reasonable Price’ (GARP) strategy is underpinned on constructing a high conviction concentrated portfolio
investing across sectors. It would be primarily investing in Large Cap Stocks (At least 70%) and the remaining in mid and small
cap companies. The appropriate benchmark to compare performance would be Nifty 50 TRI as it matches with our investment
approach. The investment approach is subject to various risk like no assurance of investment returns, political, legal, social
and economic considerations of investing in India and inflationary pressures.
Performance Summary – INR
25%
19.3%
20%
16.2%
15.2%
15%
9.3%
10% 7.6%
5.6% 6.3%
4.8%
5%
0%
1 Month 3 months 6 Months YTD
Karma Capital Magnolia NIFTY 50 TRI
Note: Returns as on November 30, 2023; Returns are based on net of fees & taxes since inception for discretionary portfolio. Returns are based on TWRR method as per SEBI
Regulation. The benchmark has been changed w.e.f September 25 2023 from BSE 500TRI to Nifty 50 TRI
Performance NAV
125
119.3
120
115
115.2
110
105
100
95
90
Jun-23
Sep-23
Nov-23
Feb-23
Mar-23
Jan-23
Apr-23
Jul-23
Aug-23
May-23
Oct-23
Karma Capital Magnolia NIFTY 50 TRI
Note: Returns are based on net of fees & taxes since inception for discretionary portfolio. Returns are based on TWRR method as per SEBI Regulation.
FACTSHEET
NOVEMBER 2023

Zee Entertainment Enterprises
Ltd
Butterfly Gandhimathi
Brigade Enterprises Ltd 1.24% -0.07%
Appliances Ltd
Bharti Airtel Ltd 0.72% -0.04%
Services Ltd
Security
Financials 21.0%
Tata Motors Ltd - DVR Health Care 18.7%
Bharti Airtel Ltd Automobiles & Components 15.9%
Cipla Ltd Industrials 10.7%

Sun Pharmaceutical Industries Ltd
Real Estate 4.7%
Bosch Ltd
Information Technology 4.0%
SBI Cards And Payment Services Ltd
Consumer Durables & Apparel 3.7%
HDFC Bank Ltd
Brigade Enterprises Ltd Energy 2.6%
State Bank Of India Cash 8.3%
Interglobe Aviation Ltd

Particulars Top 5 Top 10 Mcap Classification
Karma Capital Magnolia 34.5% 57.6% 8.3%
11.1%
Active Share Weighted MCAP (INR Cr.) Large Cap
10.7% Mid Cap

72.9% 224,538
Small Cap
Cash
70.0%
Data as on November 30, 2023

Large cap: Top 1-100 Co., Mid cap: 101-250 Co., Small cap: 251 onward Co.
MCAP Cutoff (Rs Cr): Large Cap > 48,899, Mid Cap 48,899 – 16,799, Small Cap < 16,799
FACTSHEET
NOVEMBER 2023
Key details
Market Cap Orientation Large Cap
Portfolio Manager Ekta Mehta
Benchmark Nifty 50 TRI
Fee Structure
1 2% N.A. N.A. N.A.
2 1% 10% 20% Yes
Exit Load
Within 2 Years 0.5%
After 2 Years Nil
FACTSHEET
NOVEMBER 2023
FACTSHEET
NOVEMBER 2023
Strategy Snapshot
Scheme Karma Capital Lotus
Investment Approach
Karma Capital Lotus seeks to generate returns for the investors through price appreciation of stocks held over a long-term
period (5 to 7 years) across economic and market cycles. It aims to capture the India growth story by investing in listed
equities by identifying investment ideas through bottom-up research. The bottom-up approach focuses its analysis on
specific characteristics and micro attributes of an individual stock.
investing across sectors. It would be primarily investing in Small and Mid-Cap Stocks (At least 70%) and the remaining in large
cap companies. The appropriate benchmark to compare performance would be BSE 500 TRI. The investment approach is
subject to various risk like no assurance of investment returns, political, legal, social and economic considerations of investing
in India and inflationary pressures.
Performance Summary
45% 42.5%
40%
35%
28.4%
30%
25% 21.2%
20%
14.4%
15% 10.1%
9.5%
10% 7.1% 6.2%
5%
0%
1 month 3 months 6 months YTD
Karma Capital Lotus BSE 500 TRI
Regulation.
Performance NAV
150
142.5
140
130
121.2
120
110
100
90
Jun-23
Sep-23
Nov-23
Feb-23
Mar-23
Jan-23
Apr-23
Jul-23
May-23
Aug-23
Oct-23
Karma Capital Lotus BSE 500 TRI
Note: Returns as on November 30, 2023; Returns are based on net of fees & taxes since inception for discretionary portfolio. From March 2020 returns are based on TWRR method as
per SEBI Regulation
FACTSHEET
NOVEMBER 2023
Contributors Alpha Generated Detractors Alpha Generated

Cholamandalam Financial
Eclerx Services Ltd 1.57 % -0.63%
Holdings Ltd
Alkem Laboratories Ltd 0.74% Steelcast Ltd -0.14%
One 97 Communications
Tilaknagar Industries Ltd 0.64% -0.13%
Ltd
Security
Industrials 17.5%
Eclerx Services Ltd Automobiles & Components 17.2%
Kolte-Patil Developers Ltd Financials 15.9%
Consumer Durables & Apparel 12.3%

ICICI Securities Ltd
Health Care 7.9%
Cholamandalam Financial Holdings Ltd
Consumer Staples 6.6%
TVS Motor Company Ltd Communication Services 6.2%
Alkem Laboratories Ltd Information Technology 5.8%
Materials 4.8%
Real Estate 3.7%
Bharti Airtel Ltd
Others 0.2%
IDFC Limited Cash 2.0%
Tata Communications Ltd

Particulars Top 5 Top 10 Mcap Classification
Karma Capital Lotus 19.8% 35.5% 2.0%

18.2%
Active Share Weighted MCAP (INR Cr.) Large Cap
Mid Cap
93.4% 49,727 15.7%
Small Cap
Cash
64.1%

FACTSHEET
NOVEMBER 2023
Key details
Market Cap Orientation Mid and Small Cap
Portfolio Manager Darshan Engineer
Fee Structure
1 2.5% N.A. N.A. N.A.
2 1.5% 10% 20% Yes
Exit Load
1st year – 3% 2nd year - 2%
3rd year – 1% After 3 years - Nil
FACTSHEET
NOVEMBER 2023
FACTSHEET
NOVEMBER 2023
Strategy Snapshot
Scheme Karma Capital Jasmine
Investment Approach
Karma Capital Jasmine seeks to provide superior returns over longer time frames (3 to 7 years) and across market cycles. It
aims to capture the India growth story by investing in listed equities by identifying investment ideas through bottom-up
research. The bottom-up approach focuses its analysis on specific characteristics and micro attributes of an individual stock.
The approach aims to deliver superior risk adjusted returns through differentiated portfolio with high active share.
investing across sectors. This being a flexi-cap strategy, the idea would be to invest in best ideas across market capitalization
with minimum investment of 15% and maximum investment of 70% across Large-Caps, Mid-Caps and Small-Caps. The
appropriate benchmark to compare performance would be BSE 500 TRI as it matches with our investment approach. The
investment approach is subject to various risk like no assurance of investment returns, political, legal, social and economic
considerations of investing in India, inflationary pressures and liquidity risk.
Performance Summary
8.0% 7.1%
5.6%
6.0%
4.0%
2.1%
2.0%
0.6%
0.0%
-0.1% -0.1%
-2.0% -1.2%
-2.9%
-4.0%
Aug-23 Sep-23 Oct-23 Nov-23
Karma Capital Jasmine BSE 500 TRI
Regulation.
Performance NAV
108 106.8
106
104.2
104
102
100
98
96
94
Aug-23 Sep-23 Oct-23 Nov-23
Karma Capital Jasmine BSE 500 TRI
Note: Returns are based on net of fees & taxes since inception for discretionary portfolio. Returns are based on TWRR method as per SEBI Regulation
FACTSHEET
NOVEMBER 2023

Zee Entertainment
Alkem Laboratories Ltd 1.11% -0.14%
Enterprises Ltd
Services Ltd
VA Tech Wabag Ltd 0.85% State Bank Of India -0.01%
Security
Health Care 21.1%
Zee Entertainment Enterprises Ltd
Cipla Ltd Automobiles & Components 9.1%
Jubilant Pharmova Ltd Financials 5.1%
Alkem Laboratories Ltd

Industrials 4.5%
Gujarat Pipavav Port Ltd

VA Tech Wabag Ltd
Utilities 3.0%
TV18 Broadcast Ltd
Zydus Lifesciences Ltd Cash 43.8%
SBI Cards And Payment Services Ltd

Particulars Top 5 Top 10 Mcap Classificarion
Karma Capital Jasmine 28.7% 43.7%
22.9%
Active Share Weighted MCAP (INR Cr.)

Large Cap
43.8%
Mid Cap
73.1% 42,057
Small Cap
15.3% Cash
18.0%

FACTSHEET
NOVEMBER 2023
Key details
Market Cap Orientation All Cap
Portfolio Manager Vinay Jain
Fee Structure
1 2.5% N.A. N.A. N.A.
2 1.5% 10% 20% Yes
Exit Load
Within 2 Years 1%
After 2 Years Nil
FACTSHEET
NOVEMBER 2023
For further information / direct investment contact:

Website: www.karmacapital.co.in Email: marketing@karmacapital.co.in Tel: +91 22 6232 7200
Pramod Dwivedi Mobile: +91 9811980468
Email: pramod.dwivedi@karmacapital.co.in
Co Head, Business Development (BD) Direct: +91 22 6232 7203
Prashant Madan
Email: prashant.madan@karmacapital.co.in Mobile: +91 9871199534
Zonal Head - BD (North) & Head - MFD Strategy
Anish Sawal
Email: anish.sawal@karmacapital.co.in Mobile: +91 9830628297
Zonal Head - BD (South) & Head - RIA strategy
Bachaspati Jha Mobile: +91 9204241989
Email: bachaspati.jha@karmacapital.co.in
Zonal Head - BD (East) Direct: +033 4411 3839
Rohit Mistry
Email: rohit.mistry@karmacapital.co.in Mobile: +91 8879478080
Zonal Head - BD (West)
Address:
Head Office: Floor 12U, Suite 1, Remi Commercio, Off Veera Desai Road, Andheri (West), Mumbai – 400 053
Branch Office: Suite 516, Elgin Works, 5th Floor, 9 Elgin Road, Kolkata – 700020
Branch Office: Cabin 512, 5th Floor, Building17-18, Punj Essen House, Nehru Palace, New Delhi- 110019
Branch Office: C/O Wework Galaxy, Unit 05B108, 5th Floor, 43 Residency Road, Shantala Nagar, Ashok Nagar, Bengaluru- 560025
General Disclosures and Disclaimer:

This document is for information purposes only and does not constitute an offer to sell or a solicitation to buy in any jurisdiction including the United States. An offering will be made only
by means of a final offering memorandum and only in those jurisdictions were permitted by law. Any decisions to invest in any pooled investment vehicle (‘fund’) or managed account
managed or advised by Karma Capital Advisors Private Limited (‘KC’) must be based solely upon the information set forth in a confidential explanatory memorandum or confidential private
placement memorandum and the exhibits thereto, each of which should be read carefully by the prospective investors prior to investments. Opinions and estimates constitute the manager’s
judgment and are subject to change without notice. Past performance is not indicative of future results. The data/statistics given here to explain general market trends in the securities
market; it should not be construed as any research report/research recommendation. The sector(s) / stock(s) / issuer(s) mentioned in this document do not constitute any recommendation
of the same and Karma Capital may or may not have any future position in these sector(s) / stock(s) / issuer(s). There is no assurance that the investment objectives of any fund/ scheme
advised or managed by Karma Capital will be achieved or that an investor will receive a return of or on its capital. Before acting on any advice or recommendation in this material, investors
should consider other important risk factors and considerations that should be carefully evaluated before making the investment. Prospective investors should seek and consult
professional advice with their own legal, tax, and financial advisors as to the consequences of such an investment. Investors should be aware that results can substantially fluctuate over
any given period and are subject to market risk. The performance related information provided herein is not verified by SEBI. This document should not be reproduced, distributed or
published by the recipient without prior written consent of Karma Capital Advisors Private Limited.

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2023

KARMA WEALTH BUILDER

Scheme Karma Wealth Builder (Long Only)

Investment Style Growth At Reasonable Price

Strategy Market Cap and Benchmark Agnostic

Benchmark BSE 500 TRI

Rolling Average CAGR Returns

Karma Wealth Builder BSE 500 TRI

Karma Wealth Builder BSE 500 TRI

Monthly Performance Contribution: Top Contributors and Detractors

Contributors Alpha Generated Detractors Alpha Detracted

Top 10 Holding Sector Exposure*

SBI Cards And Payment Services Ltd Others 0.3%

Jubilant Pharmova Ltd Cash 4.1%

TV18 Broadcast Ltd

Portfolio Concentration Equity Market Capitalization

Particulars Top 5 Top 10 MCAP Classification

Karma Wealth Builder 41.5% 66.1%

Avg. Holding Active Weighted MCAP 32.4%

Standard Deviation 11.5% 15.6%

Beta 1.09 1.04

Information Ratio 2.24 1.33 30.3%

Sharpe Ratio 1.98 1.92 Data as on November 30, 2023

Market Cap Orientation All Cap

Portfolio Manager Rushabh Sheth

Benchmark BSE 500 TRI

1 2.5% N.A. N.A. N.A.

2 1.5% 10% 20% Yes

After 2 Years Nil

Scheme Karma Capital Magnolia

Investment Style Growth At Reasonable Price

Strategy Benchmark Aware

Benchmark NIFTY 50 TRI

Performance Summary – INR

Karma Capital Magnolia NIFTY 50 TRI

Karma Capital Magnolia NIFTY 50 TRI

Monthly Performance Contribution: Top Contributors and Detractors

Contributors Alpha Generated Detractors Alpha Detracted

Top 10 Holding Sector Exposure*

Bharti Airtel Ltd Automobiles & Components 15.9%

Cipla Ltd Industrials 10.7%

Communication Services 6.9%

Brigade Enterprises Ltd Energy 2.6%

State Bank Of India Cash 8.3%

Interglobe Aviation Ltd

Portfolio Concentration Equity Market Capitalization

Particulars Top 5 Top 10 Mcap Classification

Karma Capital Magnolia 34.5% 57.6% 8.3%

Active Share Weighted MCAP (INR Cr.) Large Cap

10.7% Mid Cap

Data as on November 30, 2023

Market Cap Orientation Large Cap

Portfolio Manager Ekta Mehta

Benchmark Nifty 50 TRI

1 2% N.A. N.A. N.A.

2 1% 10% 20% Yes

Within 2 Years 0.5%

After 2 Years Nil

Scheme Karma Capital Lotus

Investment Style Growth At Reasonable Price

Strategy Market Cap and Benchmark Agnostic

Benchmark BSE 500 TRI

Karma Capital Lotus BSE 500 TRI