Who is ajit dayal

Dayal set up Quantum in as an independent equity research firm, which became a local partner for Jardine Fleming for its India business from to From to , it partnered with global investment firm Hansberger Global Investors HGI to advise them on their India portfolio and help Hansberger research and invest in stocks for their global portfolios.

And along with that, the two also seem to have built a trove of investment stories—where in the unlocking of value, not just balance sheets and performance, but also things like canteens , driving around cities and drinking tea and coffee in expensive cups and saucers, come into play. Take the case of ING Vysya Bank , where a visit to the office of the CEO in made them wary while a change in management was the catalyst that drove the decision to invest.

The contrast flagged off a disconnect. They bought the stock. He was preparing a research report on the company and knew there was nothing Nandan Nilekani or Mohandas Pai or NR Narayana Murthy could tell him that would not be in the annual report or on their website.

So, he asked for permission to have lunch in their canteen. Canteens can also be an important measure of activity, of hierarchy and how the management thinks—whether managers eat in the same canteen or somewhere else that is fancier, with expensive crockery that you are afraid you might break. Driving around Hyderabad, researching companies in , set alarm bells ringing about Satyam Computer Services.

When they came back and looked into it, trying to calculate how the founder Byrraju Ramalinga Raju had so much wealth, they knew something was off. Now you can actually mark and track data and see what happens over time. The company manages about Rs 20, crore of AUM for international investors under a PMS licence, and even as it continued dealing with international clients, it took their learnings and the process into their asset management company in , launching mutual funds for domestic investors.

They will be more predictable. What this translates into is minimising risk and increasing predictability. It follows that companies that simply rely on their ability to affect policy making are out.

Because policymakers change, and policies can change. And those who influence policy can change too. I can try to model competition, I can try to model raw material costs, but how do I model influence over policymaking?

So how can I buy that stock? Based on what you are willing to pay me, they said, this is what we can collect for you. And we cannot guarantee that the assets we raise for you will stay with you for more than 6 months.

The mutual fund industry was created to help investors invest for the long term. The investors are supposed to select funds that match their risk-return profile to achieve their long term investment goals.

This cannot be right, said Ajit, the industry must change. The needs of the investor must be paramount. And one distributor put it very bluntly: "In this industry even elephants dance to our tune; you are an ant - what can you do? We are a speck of dust. Since then we have launched nine funds to cater to various categories, namely:. Disclaimer: The above chart is for illustration purpose only.

We are delighted and honoured to be the 29th mutual fund house in the country but the first to work against a distribution system that is loaded against the investors. And the first to focus on simple products and stay away from launching complicated products that clutter your portfolio.

We have chosen a path that no one else has chosen. A path not chosen by the large giants whose brand names you see everywhere on billboards and neon signs. Or on TV ads. A path not chosen by the foreign companies who have set up shop in India and launched mutual funds here.

A path which allows us to sleep well every night. Knowing we are doing the right thing. For you , dear investor. For your money. For your returns. We love what we do What counts in the business of investing - of investing your money - is: Yet the mutual fund industry is built around structures that encourage fancy products; layers of expensive costs; and reams of verbal garbage.

And Ajit had a strong desire to "come back home" to India and "do something to change India". His stay in the US exposed him to the world of mutual funds. Managing large pools of money gave Ajit tremendous confidence and added to his experience. But what if the new fund manager, does not like the stocks that the old "star" had?

Uh, oh. Someone has to pay the brokerage, commission each time a stock is bought or sold. That "someone" is you - your investment in the mutual fund. And what if this new "star" was to leave again in three years? You get the picture The action to buy; to sell; or to do nothing. The Dream of a Vision Low Who cares Average Who cares High Who cares The mutual fund industry was created to help investors invest for the long term.

And here was an industry where the distributors, did not ask any questions about: the people behind the business; the investment philosophy; the performance; and the predictability of the performance.

All the distributors wanted to know was: mere liye kitna paisa hai? But we may be a viral threat. Disclaimer: The above chart is for illustration purpose only Click here to view complete Riskometer. During Mr. During his time at HGI, Mr. Dayal also continued to manage the Investment Advisor, which was responsible for a USD 70 million allocation to listed Indian equities.

Dayal was instrumental in building a person organization that provided all of Jardine Fleming's research, broking, investment banking and investment management services in India.