Carnelian Bharat Amritkaal Fund

Overview

Carnelian Bharat Amritkaal Fund is a flexi-cap, sector-agnostic fund focusing on companies benefiting from mega trends during India's Amritkaal period. The fund aims to capture long-term growth opportunities across various sectors, including healthcare, manufacturing, technology, infrastructure, and financial services. It follows a 'Quality Growth at a Reasonable Price' investment philosophy, targeting companies with sustainable business models and strong management. The fund's strategy is to invest in companies poised to benefit from India's transition to a developed nation by 2047, as envisioned in the Amritkaal period. It focuses on sectors such as banking and financial services, manufacturing, services export, infrastructure, and consumption. The portfolio is diversified across 25-30 holdings, comprising a blend of accelerated growth ('Magic') and sustainable growth ('Compounder') companies. As of October 31, 2025, the fund has demonstrated positive performance, with a 1-month return of 4.5%, a 3-month return of 4.3%, a 6-month return of 18.1%, a 1-year return of 6.7%, and an absolute return of 22.0%. The fund is benchmarked against the BSE 500 Index and is managed by Carnelian Asset Management & Advisors, a boutique investment management firm founded in 2019 by Vikas Khemani, Manoj Bahety, and Swati Khemani. The firm manages approximately USD 1.4 billion in Indian equities for high-net-worth individuals, family offices, and partners' own capital. The fund was launched on March 21, 2024, with a target raise of approximately INR 5,000 crore from high-net-worth individuals, ultra-high-net-worth individuals, and family offices. The minimum investment size is INR 5 crore. The fund's legal entity identifier (LEI) is 335800VQFNEISD4KG412, and it is registered with the Securities and Exchange Board of India (SEBI) under registration number IN/AIF3/18-19/0642. The fund's legal address is 1205/1206, One Lodha Place, Senapati Bapat Marg, Lower Parel (West), Mumbai, 400013, India.