R&D Spenders

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

<ul><li>At Windmill Capital, our team cultivates investment philosophies rooted in cutting-edge academic research and insightful white papers. These resources lay the groundwork for a comprehensive understanding of market dynamics, risk management, and optimal return strategies. Subsequently, our sophisticated testing mechanisms allow us to create portfolios that are both theoretically robust and empirically validated</li><li>To further refine our models, we harness advanced mathematical, statistical, and analytical methods. These may include optimization algorithms that balance risk and return, as well as statistical analyses to uncover factor regimes and correlations. Such techniques enhance our stock selection process and portfolio weighting decisions, ensuring precision and effectiveness</li><li>The Top R&amp;D Spenders smallcase includes companies with a strong focus on innovation, consistently spending a higher percentage of their sales on R&amp;D compared to their sector averages. These companies have also demonstrated a consistent annual increase of over 10% in absolute R&amp;D expenditure. The smallcase features companies investing in R&amp;D to develop innovative, future-ready products and services.</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&nbsp;</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 their presence in the ASM/GSM list of the exchanges, deep negative news or sentiment, etc</li></ul>

The list of selected stocks is equal weighted

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

Top R&D Spenders Theme

Companies investing heavily in R&D to be future-ready beacons of innovation

Top R&D Spenders Theme

Overview

Stocks & Weights

At a Glance

Holdings Distribution

Closed smallcase