London-based Altavista Investment Management has recorded a $50m investment into its new India long-only investment strategy, an adjunct of the long/short Altavista Capital India fund that was launched in 2011.
The new inflow from a Family Office, has propelled the firm’s total assets under management to $325m. The new India long-only strategy, which began trading on 1 June this year, focuses on investment in dislocated high-quality Indian businesses with attractive valuations which are experiencing short term market challenges.
The strategy, which is bottom-up and fundamentals driven, runs a concentrated and unconstrained portfolio with approximately 15 positions. It is based off the long book of the Altavista Capital India fund which has an excellent track record of 18% gross USD returns p.a. since inception and is up 44% YTD as of end August 2017.
Altavista Investment Management is run by Arun Agarwal and Vinod Nair who originally met while working at McKinsey & Co, India. Agarwal and Nair have a bottom up, fundamental based, long term orientated, contrarian approach to investing. They look for high quality companies, that are out of favour with the market due to short term challenges. They are long term investors, willing to trade near term uncertainty for long term potential.