Affluense AI AFFLUENSE

Pathfinder Value Fund

Maximal Capital
PMS Multi Cap & Flexi Cap
Benchmark
S&P BSE 500 TRI
Inception Date
18 May 2022
Min. Investment
₹50,00,000
AUM (Cr.)
₹169.34
SIP Available
No
STP Available
No

Investment Strategy

Investment Approach

The investment strategy focuses on a concentrated portfolio comprising approximately 15 equity securities. These selections span various market capitalizations, with a strategic emphasis on identifying high-growth potential opportunities, predominantly observed within the small and mid-cap segments. At the aggregate portfolio level, valuation multiples are demonstrably lower when compared to broader market benchmarks. Capital is managed with a risk-averse approach, characterized by a commitment to utmost transparency.

Investment Objective

The paramount objective is the sustained accumulation of client wealth through strategic investments in ventures presenting compelling risk-adjusted return profiles, while rigorously mitigating the potential for permanent capital erosion.

Performance Returns

Returns as on 2025-12-31

Trailing Returns

Period Strategy Benchmark Outperformance
1 MONTH -2.69% -0.24% -2.45%
3 MONTHS 0.07% 5.02% -4.95%
6 MONTHS -2.48% 1.63% -4.11%
1 YEAR 1.74% 7.63% -5.89%
2 YEAR 8.77% 11.64% -2.87%
3 YEAR 25.71% 16.40% 9.31%
SINCE INCEPTION 26.85% 17.00% 9.85%

Calendar Year Performance

Year Return
CY 2025 1.74%
CY 2024 16.25%
CY 2023 67.90%
CY 2022 19.32%

Financial Year Performance

Year Return
FY 26_YTD 13.43%
FY 25 12.36%
FY 24 67.24%
FY 23 11.91%

Past performance is not indicative of future results. Returns are subject to market risks.

Fund Managers

Sarvesh Gupta

Fund Manager

With over 15 years of involvement in the equity markets, Mr. Sarvesh possesses 12 years of dedicated experience as a full-time professional investor, encompassing both listed and unlisted assets. Before establishing Maximal Capital PMS, he served as a SEBI-registered investment advisor from 2017 to 2021. During this period, he managed strategies focused on listed equities and high-yield debt, consistently delivering double-digit alpha for his clients. Prior to founding Maximal, Mr. Sarvesh held the position of Fund Manager at Trivantage Capital, a SEBI-registered PMS, from 2016 to 2017. In this role, he played a pivotal part in scaling the fund from its inception to achieve multi-hundred crore AUM, alongside robust double-digit alpha generation. His earlier career included a tenure as Principal at Gaja Capital, a prominent Indian private equity firm with investments spanning financial services, consumer products and services, and education, among other sectors. At Gaja Capital, he actively participated in, and frequently led, the investment decision-making process. He was notably the youngest professional at Gaja Capital to be admitted to the core investment team responsible for top-level decisions, having received two promotions within a three-year timeframe.

Portfolio Details

Portfolio Composition

Large Cap
0%
Mid Cap
0%
Small Cap
0%
Cash & Equivalent
0%

Top 5 Holdings

  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A

Top 5 Sectors

  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A

Portfolio Characteristics

total number of stocks
16
top 5 stocks percent
N/A
top 5 sectors percent
N/A
average market cap
N/A
portfolio age
3 Yrs, 7 Months
sip
Not Available
stp
Not Available

Fee Structure

Fixed Fee

AMC: 2%

Variable Fee

AMC: 1%

Hurdle: 10%

Profit Sharing: 15%

Exit Load

Year 1: 3%

Year 2: 2%

Year 3: 1%

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Disclaimer

Returns are as of 2025-12-31. Returns for periods up to one year are not annualized. Returns for periods exceeding one year are annualized. Returns are computed using the Time Weighted Rate of Return (TWRR) methodology and are provided by the respective Asset Management Companies (AMCs). 'ND' denotes 'No Data', and 'NA' denotes 'Not Applicable'. The performance of the respective Benchmark Indices is presented above. Benchmark(s) are as defined in SEBI circular no. SEBI/HO/IMD/IMD-PoD-2/P/CIR/2022/172 dated December 16, 2022, APMI circular no. APMI/2022-23/02 dated March 23, 2023, and Revised Annexure-1.

This page is provided solely for general informational purposes in relation to the strategy and is based on publicly available information. While reasonable care has been taken to ensure accuracy, the information may not reflect the most recent updates.

Nothing on this page constitutes investment, financial, or legal advice. Investment decisions should be made after consulting a qualified advisor and reviewing official scheme documents.

Last Updated: January 2026 · Published by Affluense AI (affluense.ai)