Ocean Dial Gateway to India Fund

Asset Management

In October 2012, Ocean Dial Asset Management launched a daily dealing, sub-fund under its UCITS umbrella, Ocean Dial Gateway to India Fund. The Fund is an Open Ended Investment Company (OEIC).

The Fund is constructed from the bottom-up with no sector or benchmark constraints. Each stock is selected on the basis of its own merit. The holding period is expected to be 24 months plus.

To know more about the fund, please log on to www.oceandial.com.

The investment strategy is focused on delivering absolute returns for investors over the medium to long term, with a strong bias towards capital preservation by investing in a moderately concentrated portfolio of approximately 40 listed Indian stocks from across the market cap universe. A bottom-up stock picking approach will be adopted, identifying companies with sound management, strong balance sheet fundamentals and a management whose interests are aligned with outside shareholders.

As the investment time frame is over the medium to long term, and therefore the strategy is to invest in companies which can be expected to comfortably survive an economic cycle. Central to the strategy is the price at which the stock is acquired, minimizing impact cost on the net asset value, and ensuring that there is a sufficient 'margin of safety' in the purchase cost to reduce the risk of capital loss.

Digital Technologies

March 2023

Current Status: Active

Indegene

Indegene is a life sciences focused IT solutions provider operating in commercialization services. It works as a leading partner to 19 out of the Top 20 global bio-pharma companies (including Pfizer, GSK, Novartis, Sanofi, AstraZeneca, Novo Nordisk, Abbott, and J&J) for the digital and AI driven transformation of their commercial, medical, regulatory and R&D operations. The Company operates across USA, UK, Europe, China, Japan and India.

July 2022

Current Status: Active

Xpressbees

Xpressbees is one of the fastest-growing end-to-end logistics companies. In addition to its e-commerce (B2C) division, Xpressbees’ vision to evolve into a strong full-service logistics organization is reflected in its new lines of businesses like 3PL, B2B Xpress, and cross-border operations. With its nationwide network covering over 20,000 pin codes, and 80K+ associations, Xpressbees is delivering happiness to India through an ecosystem of nearly 100,000+ families.

March 2022

Current Status: Active

Juspay

Juspay unifies payment gateways to provide e-commerce merchants with a seamless, secure, reliable, end-to-end and enterprise-grade payment stack. This allows its customer base, which includes the likes of Amazon, Flipkart, Swiggy, Meesho, Airtel, Big Basket and Tata Cliq to achieve higher revenue at lower costs.

Oct 2021

Current Status: Active

Zeta

Zeta is a leading provider of cloud-based software for financial institutions like banks and fintech companies. Zeta counts amongst its customers over 10 banks and 25 FinTechs, across 8 countries, including Sodexo, HDFC Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Yes Bank, RBL Bank among others.

May 2021

Current Status: Active

VerSe Innovation

Dailyhunt is India’s leading news aggregator focused on the vernacular medium. Based in Bengaluru and owned by Ver Se Innovation, Dailyhunt serves content in 14 Indian languages across a mix of categories including news, entertainment, lifestyle, hyperlocal etc. The Company has also recently launched a short video app called Josh, which has grown rapidly to become one of the largest apps in the social engagement category in the country.

March 2021

Current Status: Exited

Delhivery

Delhivery is India’s leading non-captive ecommerce focused logistics and supply chain platform. The company operates India’s largest express parcel transportation network with fully integrated and self-owned pickup, mid-mile and delivery operations. The company delivers across 17,500+ pin codes and 2,300+ cities across India (as at end 2020).

July 2020

Current Status: Active

lenskart.com

Lenskart is the largest player in the Indian branded eyewear & accessories market. Based in New Delhi, Lenskart has a unique omnichannel retail model present across online, offline and even home based sales channels. It has 658 exclusive brand outlets across India (as of January 2021).

Consumption

Oct 2021

Current Status: Active

Licious

Licious is India’s leading D2C brand operating in the meat and seafood category. Headquartered in Bangalore, and with a presence in 14 other cities, the company follows a farm to fork model where it owns the entire back-end supply chain from procurement to processing, storage and delivery while maintaining the quality and freshness of each product that reaches the consumer. At the time of investment, Licious had successfully delivered to more than 2 million unique customers, with a high degree of repeat purchase.

May 2019

Current Status: Exited

Bikaji Foods

Bikaji is one of India’s leading ethnic snacks companies. Based in Bikaner, Rajasthan, the company has a wide product portfolio consisting of both traditional savoury snacks (bhujia and namkeen) as well as new age snacks including wafers, chips etc. Its products are sold across nearly 20 states in India.

Financial Services

Sep 2021

Current Status: Active

SBI General Insurance Company Limited

SBI General commenced its operations as a joint venture between State Bank of India (‘SBI Bank’) and Insurance Australia Group (‘IAG’). Pursuant to stake sale by IAG in March 2020, SBI Bank now owns 70% in the company, while the balance is held by multiple private equity funds. The company offers a complete suite of products catering to the insurance needs of the retail and the commercial sectors.

Feb 2021

Current Status: Active

NSE

NSE is the largest stock exchange in India. The products on the Exchange are organized into three asset classes for trading: Capital market for the listing and trading of equities (stocks, ETFs including indices based on the NIFTY50 index etc.), fixed income securities (Gsecs, corporate bonds etc.) and the derivatives market (contracts on equity, indices, currency, interest rates and commodities).

Nov 2019

Current Status: Active

Ujjivan Small Finance Bank

Ujjivan is one of the leading small finance banks in India. Based in Bengaluru, the bank has a pan India franchise across 24 states/UTs represented by 575 branches and serving nearly 5.7 million customers (as of December 2020).

Tridib Pathak

Co-head of Equity, Ocean Dial Asset Management India and Fund Manager, Avendus Olivo

Overview-

In October 2012, Ocean Dial Asset Management launched a daily dealing, sub-fund under its UCITS umbrella, Ocean Dial Gateway to India Fund. The Fund is an Open Ended Investment Company (OEIC).

The Fund is constructed from the bottom-up with no sector or benchmark constraints. Each stock is selected on the basis of its own merit. The holding period is expected to be 24 months plus.

To know more about the fund, please log on to www.oceandial.com.

Investment Strategy+

Fund Managers+

Digital Technologies

March 2023

Current Status: Active

Indegene

Indegene is a life sciences focused IT solutions provider operating in commercialization services. It works as a leading partner to 19 out of the Top 20 global bio-pharma companies (including Pfizer, GSK, Novartis, Sanofi, AstraZeneca, Novo Nordisk, Abbott, and J&J) for the digital and AI driven transformation of their commercial, medical, regulatory and R&D operations. The Company operates across USA, UK, Europe, China, Japan and India.

July 2022

Current Status: Active

Xpressbees

Xpressbees is one of the fastest-growing end-to-end logistics companies. In addition to its e-commerce (B2C) division, Xpressbees’ vision to evolve into a strong full-service logistics organization is reflected in its new lines of businesses like 3PL, B2B Xpress, and cross-border operations. With its nationwide network covering over 20,000 pin codes, and 80K+ associations, Xpressbees is delivering happiness to India through an ecosystem of nearly 100,000+ families.

March 2022

Current Status: Active

Juspay

Juspay unifies payment gateways to provide e-commerce merchants with a seamless, secure, reliable, end-to-end and enterprise-grade payment stack. This allows its customer base, which includes the likes of Amazon, Flipkart, Swiggy, Meesho, Airtel, Big Basket and Tata Cliq to achieve higher revenue at lower costs.

Oct 2021

Current Status: Active

Zeta

Zeta is a leading provider of cloud-based software for financial institutions like banks and fintech companies. Zeta counts amongst its customers over 10 banks and 25 FinTechs, across 8 countries, including Sodexo, HDFC Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Yes Bank, RBL Bank among others.

May 2021

Current Status: Active

VerSe Innovation

Dailyhunt is India’s leading news aggregator focused on the vernacular medium. Based in Bengaluru and owned by Ver Se Innovation, Dailyhunt serves content in 14 Indian languages across a mix of categories including news, entertainment, lifestyle, hyperlocal etc. The Company has also recently launched a short video app called Josh, which has grown rapidly to become one of the largest apps in the social engagement category in the country.

March 2021

Current Status: Exited

Delhivery

Delhivery is India’s leading non-captive ecommerce focused logistics and supply chain platform. The company operates India’s largest express parcel transportation network with fully integrated and self-owned pickup, mid-mile and delivery operations. The company delivers across 17,500+ pin codes and 2,300+ cities across India (as at end 2020).

July 2020

Current Status: Active

lenskart.com

Lenskart is the largest player in the Indian branded eyewear & accessories market. Based in New Delhi, Lenskart has a unique omnichannel retail model present across online, offline and even home based sales channels. It has 658 exclusive brand outlets across India (as of January 2021).

Consumption

Oct 2021

Current Status: Active

Licious

Licious is India’s leading D2C brand operating in the meat and seafood category. Headquartered in Bangalore, and with a presence in 14 other cities, the company follows a farm to fork model where it owns the entire back-end supply chain from procurement to processing, storage and delivery while maintaining the quality and freshness of each product that reaches the consumer. At the time of investment, Licious had successfully delivered to more than 2 million unique customers, with a high degree of repeat purchase.

May 2019

Current Status: Exited

Bikaji Foods

Bikaji is one of India’s leading ethnic snacks companies. Based in Bikaner, Rajasthan, the company has a wide product portfolio consisting of both traditional savoury snacks (bhujia and namkeen) as well as new age snacks including wafers, chips etc. Its products are sold across nearly 20 states in India.

Financial Services

Sep 2021

Current Status: Active

SBI General Insurance Company Limited

SBI General commenced its operations as a joint venture between State Bank of India (‘SBI Bank’) and Insurance Australia Group (‘IAG’). Pursuant to stake sale by IAG in March 2020, SBI Bank now owns 70% in the company, while the balance is held by multiple private equity funds. The company offers a complete suite of products catering to the insurance needs of the retail and the commercial sectors.

Feb 2021

Current Status: Active

NSE

NSE is the largest stock exchange in India. The products on the Exchange are organized into three asset classes for trading: Capital market for the listing and trading of equities (stocks, ETFs including indices based on the NIFTY50 index etc.), fixed income securities (Gsecs, corporate bonds etc.) and the derivatives market (contracts on equity, indices, currency, interest rates and commodities).

Nov 2019

Current Status: Active

Ujjivan Small Finance Bank

Ujjivan is one of the leading small finance banks in India. Based in Bengaluru, the bank has a pan India franchise across 24 states/UTs represented by 575 branches and serving nearly 5.7 million customers (as of December 2020).

Asset Management

September 2023

Surge in option trading: Is it a systemic risk or price stability tool?

There is increasing debate around the high volumes in the options segment, with many concerned that such high volumes may bring in market turmoil, but we believe that the rise in volumes will help ensure better price discovery, leading to price stabi...

Read Time: 3 minutes

Asset Management

June 2022

How private capital will take the driver’s seat for entrepreneurship in India

In 2021, the Indian startup ecosystem witnessed record inflows of ~$65 billion in PE/VC investments. Alternate investments are increasingly becoming an integral constituent of portfolio allocations within India...

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Asset Management

March 2022

The transformation of India’s public equity markets through widespread digital adoption

This 'mainstreaming' of digitalisation will have a profound impact on India's public equity markets. Currently, new-age businesses already listed in public markets add up to a market cap of ~USD 70bn. Over the next few years, we could potentially see...

Read Time: 9 minutes

Asset Management

December 2021

Market-neutral strategy might click in 2022 as bulls and bears engage in a tug-of-war

After a few years of super-normal debt market returns (2015-2018), and now one of the best two-year period in a long time for equity markets (2020-2021), it is time to understand what lies in store for us, and how can one get attractive risk-adjusted...

Read Time: 5 minutes

Asset Management

April 2021

Climate Change - A challenge transcending borders

How much more warming and how many more carbon emissions can the Earth tolerate before experiencing the most destructive effects of climate change? The entire earth – transcending boundaries – is at edge of catastrophic climate risks.

Read Time: 4 minutes

Asset Management

September 2020

Covid has energized adoption of the digital ecosystem – and the change is likely to be permanent

The exigencies of the current situation are moulding our habits and our lifestyles. The Covid crisis has prompted a change in consumption behaviour on how and what we consume across categories and how we pay for them. These changes in user habits are...

Read Time: 5 minutes

Asset Management

May 2020

Coping with the Upcoming Consumer Demand Contraction

With the Covid-19 pandemic, the entire consumption cycle has been disrupted and this is an unchartered territory for most consumer companies which have witnessed a decade of growth. It will take a massive and periodic fiscal stimulus for consumption...

Read Time: 4 minutes

Asset Management

April 2020

Rebuilding the Indian financial ecosystem, post Covid 19 crisis

The impact of the Coronavirus pandemic on the global economy is likely to be significant and widespread. The Indian financial ecosystem will also bear the brunt of this economic dislocation. Only the ability to navigate these turbulent times and reta...

Read Time: 6 minutes