Banking Privately

All publicly traded companies on the National Stock Exchange of India, covering 90% market capitalization, are included in the universe

<ul><li>At Windmill Capital, our team crafts thematic portfolios inspired by long-term macro trends. We pinpoint key sectors, industries, and stocks poised to thrive amidst these emerging trends. Each selected stock or ETF undergoes a thorough evaluation process, which includes reviewing the company’s investor presentations, conference calls, and sector reports to ensure a perfect thematic alignment.</li><li>After shortlisting, these stocks are meticulously analyzed based on fundamental factors and their recent financial performance. This structured approach enables us to build high-conviction portfolios that resonate with sustainable market trends.</li><li>The Banking Privately Thematic smallcase comprises private banks and NBFCs that hold a competitive advantage over government-owned banks.</li></ul>

<ul><li>Stocks/ETFs qualifying the above mentioned research criteria are selected for further analysis</li><li>Proprietary liquidity filters are applied to remove ill-liquid stocks/ETFs from this list</li><li>A special check is further applied to remove stocks, where a significant part of the promoter holdings are pledged</li><li>Stocks/ETFs are further removed on the basis of red flags such as stock’s presence in ASM/GSM list of the exchanges, deep negative news or sentiment etc</li></ul>

The list of selected stocks is weighted such that the risk contribution of each stock in the smallcase is equal. By focusing on risk instead of market cap or value, this weighting scheme provides better diversification and protection against market volatility.

This smallcase has a quarterly rebalance schedule. Once every quarter, the research team reviews this smallcase and realign the weights with the selected asset allocation strategy for the next quarter

Banking Privately Theme

Profitable NBFCs and private banks with low NPAs that are giving PSU banks a run for their money

Banking Privately Theme

Overview

Stocks & Weights

At a Glance

Holdings Distribution