Quantum Long Term Equity Value Fund

1
Quantum Long Term Equity Value Fund
February 2022 Private Confidential
1
2
TABLE OF CONTENTS
About Us About Quantum Mutual Fund Our Research
and Investment Process Overview - Indian
Economy QLTEVF Fund Performance Risk, Summary
and Conclusion
3
ABOUT US
4
Group Update The Past 25 Years
4

• Set the foundation for building an India-focused
  investment management institution across the 4
  major asset classes equity, fixed income, real
  estate, infrastructure Steady growth in assets,
  disciplined approach attracting clients
• Need for multiple asset classes to reduce the
  business risk of being dependent on any ONE
  product
• India is not mainstream - huge volatility in
  valuations and client interest
• 1990 to 2004 investment processes refined by
  affiliation with international groups
• 2004 to 2008 invested in people
• 2004 to 2008 incubated teams to diversify
  business risk
• 2008 to 2009 invested in world-class systems
• 2010 onwards maintaining our focus and
  discipline succession planning

5
Our Journey so Far

• Quantum Gold Savings Fund
• Indias first fully paperless Online Investing
  Platform

• Quantum Dynamic Bond Fund
• Transactions through Email, WhatsApp Fax

• Quantum Gold Fund
• Quantum Nifty ETF
• Quantum Tax Saving
• Fund

• Set up Quantum
• AMC

• Launch of
• Regular Plans

2005
2006
2008
2009
2011
2012
2015
2016
2017
2019

• Quantum Long Term Equity Value Fund completes
  10-year track record

• Quantum Long Term Equity Value Fund
• Quantum Liquid Fund

• Quantum Equity Fund of Funds
• Path to Profit
• Launched

• Quantum Multi Asset Fund of Funds

• Quantum India ESG Equity Fund

6
About our Sponsor Quantum Advisors Pvt. Ltd.
6

• Currently managing an AUM of USD 2.61 Billion
  (INR 19,671 crore) as February 28, 2022.
• Manages Indian equity investments
  for some of the largest institutions
  in the world, including Sovereign Wealth Funds,
  pension funds, endowments, and foundations
• Currently registered as a Portfolio Manager with
  SEBI and other international regulators
• Quantum Advisors is 50.8 owned by Mr. Dayal and
  the Management Team and 49.2 owned by HWIC Asia.
  HWIC Asia is ultimately promoted and wholly owned
  by Fairfax Financial Holdings Limited (FFHL).
  FFHL is listed on the Toronto Stock Exchange and
  is led by Mr. Prem Watsa, known as the Warren
  Buffet of Canada

7
ABOUT QUANTUM MUTUAL FUND
8
About Quantum Mutual Fund
8

• Quantum Mutual fund was established in 2006 with
  the launch of the Quantum Long Term Equity Value
  Fund
• Quantum Mutual Fund was the 29th, but Indias 1st
  Fund house that started with a focus on a Low
  Cost Approach for investors
• Simple range of funds No confusion for investors
• Disciplined Research and Investment Process
  Team-driven, no star fund managers
• Staying the course, no short cuts Asset
  Managers, not Asset Gatherers
• Quantum MF AUM Rs.1,947.73 Cr. as on February
  28, 2022.
• Number of Folios 75,634 as on February 28, 2022.

9
Company Structure

• Quantum Advisors, India (QAS), provides
  investment advisory services and manages
  portfolios of FIIs and Indian clients. Registered
  as Portfolio Manager with SEBI since 1997. It is
  led by Mr. I. V. Subramaniam (Subbu), who is the
  MD Group Head (Equities) of the company.
• Subbu joined Quantum in 1996 and has over 25
  years of experience in the investment management
  and financial services industry. Since June 2000,
  Subbu has managed India-dedicated portfolios for
  Indian clients and since 2005, he has managed
  India-dedicated portfolios for international
  clients. Subbu received his Bachelors degree in
  commerce from Osmania University in 1983 and his
  Law degree from Osmania University in 1986. He is
  a CFA Charter holder.
• 100 subsidiary of QAS Quantum Asset Management,
  India (QAMC) SEBI Registered Asset Management
  Company
• and Investment manager for Quantum Mutual Fund.
  It is led by Mr. Jimmy Patel, who is the
• MD CEO of the company.
• Jimmy Patel joined Quantum in 2010 and has over 3
  decades of experience in the financial services
  sector, and has held various key management
  roles. Along with holding a Chartered
  Accountants degree, Mr. Patel has also completed
  his
• L.L.B. from the University of Mumbai. Mr. Patel
  is a Fellow of the Chevening
• Standard Chartered Financial Services Leadership
  Programme at Kings College, London. He has been a
  Director on Association of Mutual Funds In India
  (AMFI) Board and also has been a member of
  various AMFI and SEBI Committees.

10
Always Putting Investors First, Even Above our
Growth in AUM
10
Quantum Mutual Fund SEBI Imposes Rule on MF Industry
Refused to follow the opaque Entry Load Model Mar 2006 Jun 2009
Pioneered Direct to Investor, despite Slow Internet Speed and No Smart Phones Mar 2006 Jan 2013
One Scheme / product per asset class Mar 2006 Oct 2017
Exit Load swept into funds for the benefit of Unit Holders Mar 2006 Nov 2012
No Discrimination against Retail Investors Mar 2006 Sep 2012
Introduced the practice of following Total Return Index (TRI) as benchmark for Equity Fund Mar 2006 Jan 2018
Majority of Independent Directors on AMC Board Mar 2006 ?
Path to Profit (Investor Education Awareness Program) Aug 2009 Sep 2012
100 Independent Board of Trustees Oct 2010 ?
Mark to Market valuation in Liquid Fund, irrespective of the maturity Jul 2012 April 2020
ZERO Upfront Distributor Commission and uniform trail commission across all partners on Regular Plan Apr 2017 Sep 2018
TER based on AUM Slabs Feb 2017 April 2019
11
Profile of Management Team - QAMC
Jimmy Patel MD CEO (2010) Jimmy Patel has over
3 decades of experience in the financial services
sector, and has held various key management
roles. Along with holding a Chartered
Accountants degree, Mr. Patel has also completed
his L.L.B. from the University of Mumbai. Mr.
Patel is a Fellow of the Chevening Standard
Chartered Financial Services Leadership Programme
at Kings College, London. He has been a Director
on Association of Mutual Funds In India (AMFI)
Board and also has been a member of various AMFI
and SEBI Committees. Rina Nathani Chief Business
Officer (2020) Rina has over 20 years of
experience in building businesses, advising
companies and leading teams to successful
outcomes. Prior to joining Quantum AMC, Rina was
a Director in KPMGs Advisory Practice in the US
and Head Retail Businesses at Suminter India
Organics, India. She has done Masters in
Management Studies from Jamnalal Bajaj institute
of Management Studies (JBIMS). Malay Vora Head -
Legal Compliance (2008) Malay Vora has more
than 15 years of experience in Legal, Compliance
and Corporate Secretarial matters in the
financial service industry. He is a Commerce and
Law Graduate and an Associate Member of Institute
of Company Secretaries in India. Malay is the
Head of Legal Compliance and the Compliance
Officer for Quantum AMC. He has been associated
with Quantum since 2008. He has been a member of
SEBI and AMFI Committee.
12
Sandeep Bhosle VP - Investor Interaction
(2011) Sandeep Bhosle has more than 18 years of
experience in Financial Services and Market
Research. He a Post Graduate in Marketing
Management. He has Completed Medium and Small
Scale Industries Management Development Program
from NMIMS. Prior to Quantum AMC, he has been
with ICICI Prudential and Birla Sunlife Insurance
and has been instrumental in developing Rural
Markets and New Initiatives, Process Quality,
Loyalty Programs, RR Initiatives. Rajendra
Gadiyar Head - Operations (2011) Rajendra brings
with him more than 2 decades of experience in
Operations and Fund Accounting in Mutual Funds
and Insurance. Prior to joining Quantum, he was
associated with various companies across
Insurance, Asset Management and Investment
Management sectors.
Meera Shetty Head - Investor Services
(2006) Meera Shetty has almost two decades of
experience in Investor Servicing. Before joining
Quantum, she was associated with Edelweiss AMC,
Principal AMC and UTI-TSL. She holds a degree in
Commerce and is an MBA with dual specialization
in Finance and Marketing.
13
Portfolio Team
Nilesh Shetty (2009) -Equity Nilesh has more than
18 years of experience in research. He has been a
part of Quantum Asset Management Company since
2009, and at present is the Fund Manager for
Quantum Long Term Equity Value Fund and Quantum
Multi Asset Fund of Funds. Nilesh is a qualified
CFA (Chartered Financial Analyst), ACMA (CIMA,
UK) and has completed his Masters in Management
Studies (Finance) from the Mumbai University.
Sorbh Gupta (2011) - Equity Sorbh has more than
16 years of experience in equity research as well
as managing funds. At present hes the Fund
Manager for Quantum Long Term Equity Value Fund
Quantum Tax Saving Fund. Hes Qualified as a
Chartered Accountant and has completed all the 3
levels of CFA. Sorbh brings with him a wealth of
experience of having tracked varied sectors in
his previous work assignments. Prior to joining
Quantum, he was associated with Siddhesh Capital
Private Ltd.
Sneha Joshi (2015) Alternative Investment Sneha
has over 9 years of experience in economic,
credit and quantitative research. She holds a
Ph.D. in Economics and has earned an M.A. in
Economics from Gokhale Institute of Politics and
Economics. She joined Quantum AMC in August,
2015. Prior to joining Quantum, she was
associated with Credit Capital Research as a
fixed income research analyst.
Hitendra Parekh (2004) - Equity Hitendra has
close to 3 decades of experience in financial
services industry. Prior to working with Quantum,
he has been with the Unit Trust of India for 4
years and UTI Securities Ltd for 9 years. He has
completed his B.Com Masters in Financial
Management from Mumbai University.
14
Portfolio Team
Pankaj Pathak (2013) Fixed Income Pankaj has
over 12 years of experience in Fixed income
investments and research. He joined Quantum Asset
Management Company in August, 2013 and at
present, is Fund Manager for Quantum Dynamic Bond
Fund and Quantum Liquid Fund. Prior to joining
Quantum, he was associated with Bank of
Maharashtra. Pankaj holds a Post Graduate Diploma
in Banking Finance from National Institute of
Bank Management, Pune and is qualified
CFA (Chartered Financial Analyst).
Chirag Mehta (2006) Gold/Commodities Chirag has
19 years of experience in the Indian commodities
markets. He also specializes in the field of
alternative investment strategies. He is a
qualified CAIA (Chartered Alternative Investment
Analyst), and has also completed his Masters in
Management Studies in Finance. He currently
manages funds largely in the field of alternative
investments that includes Gold Fund, a Multi
Asset Fund of Funds and an Equity fund of funds
and is also a Fund Manager of Quantum India ESG
Equity Fund. He joined the Quantum after gaining
hands on experience in the physical commodities
market during internship with Kotak Co. Ltd and
working on projects for the Federation of Indian
Commodities Exchanges.
Ghazal Jain (2020) Gold/Commodities Ghazal has
over 5 years of experience in the field of
finance and alternative investments including of
Gold, Asset Allocation and Personal Finance
investment allocation. She has been with Quantum
Asset Management Company since January, 2019.
Prior to joining Quantum, she was associated with
Fox Education LLP and Bahubali Electronics Private
Limited
15
Criteria to Select a Good Fund House

• What is the background?
• What is the experience?

PEOPLE

• Is there a clearly defined investment philosophy
  across all market situations or is this a
  ride-the-wave, bull-market manager?

PHILOSOPHY

• What is the research and investment process and
  how reliable is it?

PROCESS

• Given the process, is the performance as
• predictable as it should be?

PERFORMANCE
16
Diversify your investments with our easy
12-20-80 Asset Allocation Strategy
Please note the above is a suggested fund
allocation and not to be considered as an
investment advice or recommendation
17
OUR RESEARCH INVESTMENT PROCESS
18
Stock Markets Offer Real Opportunities

• Market cap USD 3,252.16 bn
• 4,000 listed companies
• 314 companies market cap gt USD 1 bn
• 886 companies market cap gt USD 100 mn
• Daily trading volume USD 21.92 million/day for
  the period March 2021 Feb 2022
• 755 companies with daily avg traded gt USD 1 mn
• 563 companies with daily avg traded gt USD 2 mn
• Represents many real industries not only
  financial services and property stocks
• Equity culture Bombay Stock Exchange over 130
  years oldest in Asia
• Newer electronic NSE is the 3rd largest stock
  exchange in the world by volume

Source Quantum AMC, Bloomberg, SEBI and Tata
Services Ltd As of February 28th , 2022
19
Our Macro Assumptions
The 4 inputs to our bottom-up stock selection
process
Our estimate Current readings Comments
GDP, long-term 6.0 to 6.5 (Old Series) 9.2 (Advanced Est. FY -22) Recovering at steady pace, supported by gov expenditure and export demand. GDP growth for FY-23 to be at 8.1.
Inflation 5.0 to 5.5 4.91 CPI inflation is likely to remain close 5.4 in FY22.
10-year bond Long term 7.0 to 7.5 Short term 6.25-6.75 6.55 Potential liquidity tightening and rate hike will likely put upward pressure on bond yields.
FX rates /-2 (INR /USD in a 73-78 band) INR/USD 74.2 Monetary policy tightening in US will put pressure on INR. However, RBI has enough FX reserves to buffer any sharp depreciation.
Source Quantum Advisors estimates, as of
December 2021 The number is from a changed data
series starting Jan 2015. While a superior
series, there is no comparable number to equate
the New with the Old.
20
Value Investing Quantum Mutual Fund

• We follow the Value investing strategy that
  involves buying companies at discounts to their
• long-term intrinsic value
• We focus on the long term potential of the
  business
• We normalize our assumptions - we do not value
  the companies on the basis of peak or trough
• margins
• While valuing the company, we would generally
  give a 40 discount to its intrinsic value to set
  our buy limits
• Typical characteristics of the portfolio
  following Value Investing strategy
• Low price to earnings ratio
• Low price to book ratio
• Low price to sales multiple
• Low price to cash flow
• High dividend yield

21
Our Investment Criteria - Value

• 01 Evaluate
• The business of the
• company
• The environment in which it operates
• The management, and their long-term goals
• Can the financials support the long- term goals?

• 02 Analyze
• The stock price of the company based on
  fundamentals relative to its peer group, its
  history, and the market

• 03 Buy
• Current price is generally 40 lower than our
  estimate of long- term value (in case of first
  time buy)

• 04 Sell
• Current price is gt our estimate of long- term
  value
• Better Investment Alternatives
• Changed view of management, Changed view of
  business

• PER, PCF, P/BV, Div Yld, EV/EBITDA

22
Quantums Bottom-Up Stock Selection Process
Clients get best of bottom-up ideas with a risk
control measurement for each sector Generally, lt
20 of the stocks we cover meet our Buy criteria
25 to 40 stocks
PORTFOLIO
Portfolio of stocks with broad exposure to
various sectors. Approved by the portfolio
team Reflects three broad themes domestic
consumption, exports and infrastructure
201 stocks
VALUE AND INTEGRITY SCREENING
Analysts study stocks in their sector (India)
with global comparison, travel worldwide, prepare
detailed projections. Regular research meetings
to review ideas and approve stocks for the
database. Consensus required. All stocks are
reviewed time to time generally within 180
days. We must trust the managements/founders
327 stocks
ADDRESSABLE UNIVERSE
Number of companies trading over US 1 million/day
Number of stocks mentioned are as per current
average trading volume value criteria. The number
of Stock in trading volume criteria, and in
portfolio will be changed from time to time based
on Investment Strategy of the scheme.
23
Portfolio Construction
Stock under active coverage? Volume INR 6.98 Crs
per day YES
No
To research team
Part of SP BSE-30 Index? No effect on decision
No
Below Buy limit?
Wait
YES What sector?
Indifferent guided by Research Portfolio of
25-40 stocks Investment Rules Minimum wt 2 at
cost Maximum wt 6 at cost Maximum wt 10 at
market value
Weights assigned to a stock are a function of

1. Reliability of management
2. Quality of earnings
3. Stability of earnings
4. Upside Potential
5. Alternatives/Cash

Our portfolio turnover is typically 20,
suggesting a 5 year holding period. Please refer
Scheme Information Document of the Scheme for
complete Investment Strategy
24
A Tale Of Two Stocks Since 1991
(1) We buy liquid shares of good businesses
(2) Illiquid stocks give managers the fees
investors get nothing
SSoouurcrcee BBlolooommbbeergrgFFininaanncceeLL.
P.P.,.,AAssooff FOecbtroubaeryr 289,
20221 Disclaimer The stocks discussed herein
are for information purpose only. This is not a
recommendation to buy or sell any security.
25
OVERVIEW- INDIAN ECONOMY
26
Myth 1- India will grow 8 P.A
If the world slips sideways, India will grow...as
it has over the past 39 year We believe 6.5 Real
GDP growth is a realistic long term assumption
Source RBI and www.parliamentofindia.nic.in as
of December 2021. Note The number in red
rectangle is from a changed data series starting
Jan 2015. While a superior series, there is no
comparable number to equate the New with the
Old. Most economists deduct 0 to 1.5 from the
New to equate to the Old therefore under
Modi, the GDP has been at 5.9 at best matching
the 5.6 under the BJP-led coalition government
of Vajpayee that resulted in a rout for the BJP
at the time of the next election in 2004! Please
note that data used for World GDP for 2017 is a
median Estimate since World Bank data is not yet
available and India GDP data is governments
second advance estimate released at the end of
February 2022.
27
Myth 2 Make in India will Boost Exports
Sector Contribution To GDP
100
29
41
80
53
15
60
25
Services
40
30
Industry
56
Agriculture
20
34
18 18
Exports
8
0
6
1951
1991
2015
Source Quantum AMC, Google Images, Bloomberg
Finance L.P.
28
Indians Still Consuming The Hungry Consumers!
Year (March end) 2-wheelers (Domestic sales Mn units) Passenger Vehicles (Domestic sales Mn units) Refrigerators (Production Mn units) Cement (mn tn) Home loans outstanding (Rs. bn)
2008 8,064,903 1.6 6.1 174 2,603
2009 8,439,786 1.6 6.7 187 2,794
2010 10,511,009 2.0 8.0 207 3,009
2011 13,302,335 2.5 8.7 216 3,499
2012 15,384,261 2.6 9.9 230 3,971
2013 15,753,563 2.7 11.1 248 4,567
2014 16,890,778 2.5 10.7 256 5,386
2015 18,433,027 2.6 12.0 270 6,285
2016 18,938,727 2.8 11.9 283 7,468
2017 19,928,958 3.1 13.1 280 8,601
2018 23,007,691 3.3 13.5 298 9,746
2019 24,460,688 3.4 15.6 337 11,601
2020 20,936,201 2.7 15.0 334 13,498
2021 18,397,111 2.5 11.2 294 14,591
2022 YTD 14,960,116 2.1 7.8 285 15,530
CAGR (since 2008 till 2021) 6.5 3.8 4.8 4.1 14.2
2022 YTD data, Two-wheeler sales data as on
January 22, Passenger Vehicle sales Data as on
January 22, Refrigerator data as on December
21, Cement sales data as on January 22, Housing
loans data as on January 22, Latest cell phone
connections data as on January 22 Source 2
wheeler passenger vehicle and Cement CMIE
database refrigerator production data CMIE
(IIP ) database, home loans outstanding RBI
Data on Sectoral deployment of bank credit
(January 2022). Annualized Returns..
29
India Linked to Global Capital Flows, Not GDP
As a of GDP Private Consumption Exports of Goods Services
India 58.8 19.2
China 39.3 19.6 Lower global links
Indonesia 57.7 19.1
Thailand 50.7 68.9
Malaysia 54.9 67.7
Brazil 64.0 12.5
Russia 51.5 25.7
GDP https//data.worldbank.org/indicator/NY.GDP.MKTP.CD
Pvt consumption https//data.worldbank.org/indicator/NE.CON.PRVT.CD
Exports (Goods Services) https//data.worldbank.org/indicator/NE.EXP.GNFS.CD
Source World Bank database Updated as of March
31, 2021
30
Performance of the Fund
Fund Manager Mr. Sorbh Gupta Work experience 16.5 years. He has been managing this fund Since December1, 2020. Mr. Nilesh Shetty Work experience 18.2 years. He has been managing this fund Since March 28, 2011.
Category of Scheme Value Fund
Features QLTEVF uses bottom-up stock selection process used to minimize risk. QLTEVF Follows disciplined research and investment process. QLTEVF has a low portfolio turnover. QLTEVF holds cash when stock are overvalued - no derivatives and no hedging. QLTEVF contains a well-balanced portfolio typically, 25 to 40 stocks, across sector.
Useful for Retirement. Childs Education. Childs Marriage. Wealth Creation.
Quantum Long Term Equity Value Fund
31
Quantum Long Term Equity Value Fund Must have
equity diversified fund
Value Oriented Equity Diversified Fund since
March 2006 Well balanced portfolio typically 25
to 40 stocks, across sectors Instrumental for
Long Term Financial Goals like Retirement,
Childs Education, Childs Marriage Wealth
Creation A disciplined research and investment
process Low portfolio turnover Very boring, Buy
after Conviction, Hold it for long Holds shares
or cash No derivatives, No hedging
32
Performance across the market cycles - (Mar 2006
February 2022)
Data as on 28th February 2022. Past performance
may or may not be sustained in future. This graph
should be reviewed in conjunction with detailed
performance of the scheme provided on slide
number 33 Source Bloomberg
33
Performance of Quantum Long Term Equity Value
Fund
Direct Plan Growth Option
The Scheme is co-managed by Mr. Sorbh Gupta and
Mr. Nilesh Shetty. Mr. Sorbh Gupta is the Fund
Manager effective from December 1, 2020. Mr.
Nilesh Shetty is the Fund Manager effective from
March 28, 2011.
Period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period
Period Tier 1 - Benchmark Tier 2 - Benchmark Additional Benchmark Tier 1 - Benchmark Tier 2 - Benchmark Additional Benchmark
Period Scheme SP BSE SP BSE SP BSE Scheme SP BSE SP BSE SP BSE
Period Returns () 500 TRI 200 TRI Sensex TRI (Rs) 500 TRI 200 TRI Sensex TRI
Period () () () (Rs) (Rs) (Rs)
1 year 12.12 18.67 17.92 15.65 11,219 11,878 11,802 11,574
3 years 11.50 18.45 18.13 17.49 13,865 16,626 16,493 16,224
5 years 9.26 14.72 14.88 15.73 15,572 19,874 20,015 20,766
7 years 9.61 11.76 11.70 11.20 19,025 21,793 21,714 21,037
10 years 12.53 14.26 14.26 13.76 32,576 37,962 37,960 36,316
Since Inception (13th Mar 2006) 13.32 12.38 12.51 12.39 73,720 64,595 65,798 64,683
Past performance may or may not be sustained in
the future. Load is not taken into consideration
in scheme returns calculation. Data as of 28th
February 2022 Returns are calculated on the basis
of Compounded Annualized Growth Rate (CAGR).
with effect from December 01, 2021 Tier 1
benchmark has been updated as SP BSE 500 TRI. As
TRI data is not available since inception of the
scheme, benchmark performance is calculated using
composite CAGR SP BSE 500 index PRI Value from
March 13, 2006 to July 31, 2006 and TRI Value
since August 1, 2006. with effect from February
01,2020 benchmark has been changed from SP
Sensex TRI to SP BSE 200 TRI. As TRI data is not
available since inception of the scheme,
benchmark performance is calculated using
composite CAGR SP BSE 200 index PRI Value from
March 13, 2006 to July 31, 2006 and TRI Value
since August 1, 2006 For performance of other
Schemes Managed by Mr. Sorbh Gupta please see
slide number 43 and for performance of other
Schemes Managed by Mr. Nilesh Shetty please see
slide 43
34
SIP Performance - Direct Plan - Growth Option
SIP Investments Since Inception SIP 10 year SIP 7 year SIP 5 year SIP 3 year SIP 1 year SIP
Total Amount Invested [phone] 840 600 360 120
Mkt Value as on February 28, 22 (000) 5878 2237 1246 806.1 465.3 119.7
SP BSE 500 TRI [phone] 1446 906.8 500.2 123.6
SP BSE 200 TRI [phone] 1446 905.4 495.2 123.7
SP BSE Sensex TRI [phone] 1444 902.6 481.1 123.8
Returns (XIRR) () 12.9 12.0 11.1 11.8 17.6 -0.5
SP BSE 500 TRI (XIRR) () 13.2 15.0 15.3 16.6 22.8 5.7
SP BSE 200 TRI (XIRR) () 13.2 14.9 15.3 16.6 22.1 6.0
SP BSE Sensex TRI (XIRR) () 12.8 14.4 15.3 16.4 20.0 6.0
Data as of 28th February 2022 Past performance
may or may not be sustained in the future. Load
is not taken into consideration using applicable
NAV on the SIP day (5th of every month). Return
on SIP and Benchmark are annualized and
compounded investment return for cash flows
resulting out of uniform and regular monthly
subscriptions as on 5th day of every month (in
case 5th is a non-Business Day, then the next
Business Day) and have been worked out using the
Excel spreadsheet function known as XIRR. XIRR
calculates the internal rate of return for series
of cash flow. Assuming Rs 10,000 invested every
month on 5th day of every month (in case 5th is a
non-Business Day, then the next Business Day),
the 1 year, 3 years, 5 years, 7 years, 10 years
and since inception returns from SIP are
annualized and compounded investment return
computed on the assumption that SIP installments
were received across the time periods from the
start date of SIP from the end of the relevant
period viz. 1 year, 3 years, 5 years, 7 years, 10
years and since Inception. XIRR - XIRR
calculates the internal rate of return to measure
and compare the profitability of series
of investments. Benchmark Returns. _at_Additional
Benchmark Returns.
35
Performance of Quantum Long Term Equity Value
Fund
Regular Plan Growth Option
The Scheme is co-managed by Mr. Sorbh Gupta and
Mr. Nilesh Shetty. Mr. Sorbh Gupta is the Fund
Manager effective from December 1, 2020. Mr.
Nilesh Shetty is the Fund Manager effective from
March 28, 2011.
Period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period
Period Tier 1 Benchmark Tier 2 - Benchmark Additional Benchmark Tier 1 - Benchmark Tier 2 - Benchmark Additional Benchmark
Period Scheme SP BSE SP BSE SP BSE Scheme SP BSE SP BSE SP BSE
Period Returns () 500 TRI 200 TRI Sensex TRI (Rs) 500 TRI 200 TRI Sensex TRI
Period () () () (Rs) (Rs) (Rs)
1 year 11.56 18.67 17.92 15.65 11,163 11,878 11,802 11,574
3 years 10.94 18.45 18.13 17.49 13,658 16,626 16,493 16,224
Since Inception (01st Apr 2017) 8.50 14.10 14.32 15.28 14,935 19,129 19,316 20,123
Past performance may or may not be sustained in
the future. Load is not taken into consideration
in scheme returns calculation. Data as of 28th
February 2022 Returns are calculated on the basis
of Compounded Annualized Growth Rate (CAGR).
with effect from December 01, 2021 Tier 1
benchmark has been updated as SP BSE 500 TRI. As
TRI data is not available since inception of the
scheme, benchmark performance is calculated using
composite CAGR SP BSE 500 index PRI Value from
March 13, 2006 to July 31, 2006 and TRI Value
since August 1, 2006. with effect from February
01,2020 benchmark has been changed from SP
Sensex TRI to SP BSE 200 TRI. As TRI data is not
available since inception of the scheme,
benchmark performance is calculated using
composite CAGR SP BSE 200 index PRI Value from
March 13, 2006 to July 31, 2006 and TRI Value
since August 1, 2006. For performance of other
Schemes Managed by Mr. Sorbh Gupta please see
slide number 43 and for performance of other
Schemes Managed by Mr. Nilesh Shetty please see
slide 43 .
36
QLTEVF Monthly Cash Weight - Move To Cash When
There Is No Value And Wait Patiently
80.00
Month end Cash Weight (Other than Equity
Including CBLO and TREP)
70.00 60.00 50.00 40.00 30.00 20.00
10.00 0.00
Mar-06 Jul-06 Nov-06 Mar-07 Jul-07 Nov-07 Mar-08
Jul-08 Nov-08 Mar-09 Jul-09 Nov-09 Mar-10 Jul-10
Nov-10 Mar-11 Jul-11 Nov-11 Mar-12 Jul-12 Nov-12
Mar-13 Jul-13 Nov-13 Mar-14 Jul-14 Nov-14 Mar-15
Jul-15 Nov-15 Mar-16 Jul-16 Nov-16 Mar-17 Jul-17
Nov-17 Mar-18 Jul-18 Nov-18 Mar-19 Jul-19 Nov-19
Mar-20 Jul-20 Nov-20 Mar-21 Jul-21 Nov-21
Source Quantum AMC. As of 28th February 2022
37
While Avoiding The Illiquidity Trap Is Critical
To Our Investment
Process, We Are Not Shy Of Owning Small Caps
Market Cap Dec 2016 Dec 2016 Dec 2017 Dec 2017 Dec 2018 Dec 2018 Dec 2019 Dec 2019 Dec 2020 Dec 2020 Jan 2022 Jan 2022
Market Cap Number of Stocks Weight Number of Stocks Weight Number of Stocks Weight Number of Stocks Weight Number of Stocks Weight Number of Stocks Weight
gt INR 35,000 Crs 19 75 17 75 19 75 17 69 21 75 21 77
gt INR 5,000 Crs,lt INR 35,000 Crs 4 11 3 9 5 15 8 18 7 17 8 15
gtINR 3,000 Crs,lt INR 5,000 Crs 0 0 1 3 0 0 0 0 0 0 0 0
lt INR 3000 Crs 1 2 0 0 1 2 1 1 1 1 0 0
Total Stocks in portfolio 24 88 21 87 25 92 26 88 29 93 29 92
Data as of 28th February 2022 Source Bloomberg.
The number of stocks in portfolio will be changed
from time to time based on Investment Strategy of
the Scheme.
38
Divergent Portfolio - Not the Index for Sure!
Even though we focus on buying liquid stocks, we
do not necessarily buy Index stocks
SP BSE-200 Index (Weight) Do we own it in the QLTEVF? Change for the month ended January 31, 2022
Reliance Industries Ltd 8.33 N/A -1.14
HDFC Bank Ltd 6.43 8.08 -1.12
Infosys Ltd 6.39 6.13 -3.96
ICICI Bank Ltd 5.28 5.53 -5.93
Housing Development Finance Corp Ltd 4.38 7.76 -6.19
Total 30.81 27.50 -18.34
Source Quantum Asset Management Company Pvt Ltd
and Asia Index Pvt Ltd As of 28th February 2022
Stocks referred above are for illustrative
purpose only and not recommendation of Quantum
Mutual Fund / AMC. The Fund may or may not have
any present or future positions in these
stocks. The above information should not be
constructed as research Report or recommendation
to buy or sell of any stocks.
39
Portfolio Top 5 Holdings Different Weights
QLTEVF (Weight) SP BSE-200 TRI (weight)
Housing Development Finance Corporation Ltd 8.08 6.43
Infosys Ltd 7.76 4.38
HDFC Bank Ltd 6.13 6.39
ICICI Bank Ltd 5.53 5.28
State Bank of India 4.13 1.90
Total 31.63 24.38
Source Quantum Asset Management Company Pvt Ltd
and Asia Index Pvt Ltd. As of 28th February 2022
Stocks referred above are for illustrative
purpose only and not recommendation of Quantum
Mutual Fund / AMC. The Fund may or may not have
any present or future positions in these
stocks. The above information should not be
constructed as research Report or recommendation
to buy or sell of any stocks
40
Sector Exposure of Our Bottom-Up Stock Picking
Process
Sector MSCI AC World November 2019 SP BSE-30 Index November 2019 QLTEVF December 2016 QLTEVF December 2017 QLTEVF December 2018 QLTEVF December 2019 QLTEVF December 2020 QLTEVF January 2022
Communication Services 9 2 2 2 2 0 0 0
Consumer Disc. 11 6 23 24 19 19 17 17
Consumer Staples 8 8 0 0 0 0 0 0
Energy 5 13 9 3 3 2 2 2
Financials 17 47 16 14 25 30 29 30
Healthcare 12 1 3 6 6 5 6 5
Industrials 10 4 3 1 2 0 2 2
Materials 5 3 5 4 7 8 10 10
Real Estate 3 0 0 0 0 0 0 0
Technology 17 14 14 15 17 17 17 16
Utilities 3 2 13 14 12 11 10 10
Cash Equiv. 0 0 12 19 8 8 7 8
Total 100 100 100 100 100 100 100 100
No. of Securities 3,060 31 24 21 25 26 29 29
Note Past Performance may or may not be
sustained in future. Source MSCI, Quantum AMC
As of 28th February 2022 Sectors referred above
are for illustrative purpose only and not
recommendation of Quantum Mutual Fund / AMC. The
Fund may or may not have any present or future
positions in these sectors. The above information
should not be constructed as research Report or
recommendation to buy or sell of any sectors /
stocks.
41
Portfolio Top 10 Holdings
Stocks Weights
Housing Development Finance Corporation Ltd 8.08
Infosys Ltd 7.76
HDFC Bank Ltd 6.13
ICICI Bank Ltd 5.53
State Bank of India 4.13
Mahindra Mahindra Ltd 4.12
ACC Ltd 3.71
Tata Steel Ltd 3.59
Wipro Ltd 3.42
Hero MotoCorp Ltd 3.35
Total 49.82
Source Quantum Asset Management Company Pvt Ltd.
As of 28th February 2022 Stocks referred above
are for illustrative purpose only and not
recommendation of Quantum Mutual Fund / AMC. The
Fund may or may not have any present or future
positions in these stocks. The above information
should not be constructed as research Report or
recommendation to buy or sell of any stocks.
42
Stocks we Own are Liquid
No of trading days to sell positions Dec 2016 Dec 2016 Dec 2017 Dec 2017 Dec 2018 Dec 2018 Dec 2019 Dec 2019 Dec 2020 Dec 2020 Jan 2022 Jan 2022
No of trading days to sell positions Number of stocks Weight Number of stocks Weight Number of stocks Weight Number of stocks Weight Number of stocks Weight Number of stocks Weight
Less than 1 day 20 77 17 71 21 78 21 76 26 87 27 90
1 day to 5 days 4 11 2 3 2 8 4 14 3 6 2 2
5 days to 22 days 0 0 2 6 2 7 1 2 0 0 0 0
gt 22 trading days 0 0 0 0 0 0 0 0 0 0 0 0
Total Stocks in portfolio 24 88 21 81 25 93 26 92 29 93 29 92
Source Bloomberg. Data as on 28th February 2022
. Based on average daily volume of portfolio
stocks for the last one year and Quantums
trading share of 33. The number of stocks in
portfolio will be changed from time to time based
on Investment Strategy of the Scheme. .
43
Other Schemes managed by Sorbh Gupta and Nilesh
Shetty
Quantum Tax Saving Fund Mr. Sorbh Gupta is the
Fund Manager effective from October 1, 2016.
Period Feb 26, 2021 to Feb 28, 2022 (1 year) Feb 26, 2021 to Feb 28, 2022 (1 year) Feb 26, 2021 to Feb 28, 2022 (1 year) Feb 28, 2019 to Feb 28, 2022 (3 years) Feb 28, 2019 to Feb 28, 2022 (3 years) Feb 28, 2019 to Feb 28, 2022 (3 years) Feb 28, 2017 to Feb 28, 2022 (5 years) Feb 28, 2017 to Feb 28, 2022 (5 years) Feb 28, 2017 to Feb 28, 2022 (5 years)
Scheme Tier 1 Benchmark () Tier 2 Benchmark () Scheme Tier 1 Benchmark () Tier 2 Benchmark () Scheme Tier 1 Benchmark () Tier 2 Benchmark ()
Returns () Returns () Returns () Returns () Returns () Returns () Returns () Returns () Returns ()
Quantum Tax Saving Fund- Direct Plan (Gr) 12.28 18.67 17.92 11.64 18.45 18.13 9.35 14.72 14.88
Quantum Tax Saving Fund- Regular Plan (Gr) 11.75 18.67 17.92 11.10 18.45 18.13 N.A. N.A. N.A.
Past performance may or may not be sustained in
the future. Data as of 28th February 2022 SP
BSE 500 TRI SP BSE 200 TRI. With effect from
February 01,2020 benchmark has been changed from
SP Sensex TRI to SP BSE 200 TRI. Returns are
net of total expenses and are calculated on the
basis of Compounded Annualized Growth Rate
(CAGR). Mr. Sorbh Gupta co-manages 2 scheme of
the Quantum Mutual Fund. Quantum Multi Asset Fund
of Funds Mr. Chirag Mehta and Mr. Nilesh Shetty
are Fund Managers effective from July 11, 2012.
Period Feb 26, 2021 to Feb 28, 2022 (1 year) Feb 26, 2021 to Feb 28, 2022 (1 year) Feb 28, 2019 to Feb 28, 2022 (3 years) Feb 28, 2019 to Feb 28, 2022 (3 years) Feb 28, 2017 to Feb 28, 2022 (5 years) Feb 28, 2017 to Feb 28, 2022 (5 years)
Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns ()
Quantum Multi Asset Fund of Funds Direct Plan (Gr) 6.95 10.31 9.25 12.93 8.19 11.42
Quantum Multi Asset Fund of Funds Regular Plan (Gr) 6.56 10.31 8.92 12.93 NA NA
Past performance may or may not be sustained in
the future. Load is not taken into consideration
in Scheme Return Calculation. Data as of 28th
February 2022 Benchmark has been changed from
Crisil Composite Bond Fund Index (40) SP BSE
SENSEX Total Return Index (40) Domestic price
of gold (20) to CRISIL Composite Bond Fund Index
(20) SP BSE Total Return Index (40) CRISIL
Liquid Index (25) Domestic Price of Gold (15)
with effective from April 01, 2021. It is a
customized index and it is rebalanced daily
Returns are net of total expenses and are
calculated on the basis of Compounded Annualized
Growth Rate (CAGR). Mr. Chirag Mehta manages 5
schemes of the Quantum Mutual Fund. Mr. Nilesh
Shetty manages 2 schemes of the Quantum Mutual
Fund.
44
RISK, SUMMARY AND CONCLUSION
45
Impact/Risk Analysis on The Portfolio
A Top-down View for Presentation Purposes
45
Dec 2016 Dec 2016 Dec 2017 Dec 2017 Dec 2018 Dec 2018 Dec 2019 Dec 2019 Dec 2020 Dec 2020 Jan 2022 Jan 2022
Number of Stocks Weight Number of Stocks Weight Number of Stocks Weight Number of Stocks Weight Number of Stocks Weight Number of Stocks Weight
Local Opportunity 6 25 5 24 10 39 11 41 11 42 12 40
Global opportunity 11 41 11 40 10 39 9 37 12 40 12 40
Regulatory/Tariff 7 22 5 17 5 15 6 14 6 11 5 12
Total Stocks in Portfolio 24 88 21 81 25 93 26 92 29 93 29 92
Source Quantum AMC. Data as on February 28,
2022 Note Companies where bulk of the sales come
from India are classified under Local Opportunity
Companies where 25 or more, sales come from
outside India are classified under Global
Opportunity Companies which have their pricing
determined by government policies are classified
under Regulatory/Tariff The number of stocks in
portfolio will be changed from time to time based
on Investment Strategy of the Scheme.
46
Indian Private /MNC/ Government
Events Dec 2016 Dec 2016 Dec 2017 Dec 2017 Dec 2018 Dec 2018 Dec 2019 Dec 2019 Dec 2020 Dec 2020 Jan 2022 Jan 2022
Events Number of Stocks Weight Number of Stocks Weight Number of Stocks Weight Number of Stocks Weight Number of Stocks Weight Number of Stocks Weight
Government 8 26 6 21 7 19 7 19 7 14 6 16
Indian Private 10 41 8 35 12 47 12 45 12 44 13 42
MNC 6 21 7 25 7 27 7 28 10 35 10 34
Total Stocks in Portfolio 24 88 21 81 26 93 26 92 29 93 29 92
Source Quantum AMC. Data as on February 28,
2022. The number of stocks in portfolio will be
changed from time to time based on Investment
Strategy of the Scheme.
47
The Portfolio Relative To The SP BSE-30 Index
QLTEVF As Of SP BSE-30 Index SP BSE-30 Index
Number of equity stocks 29 97.00 30
Median market capitalization (USD mn) 9,905 29.00 34,582
Weighted dividend yield 1.94 162.00 1.20
Weighted PER March 2023E 13.4x 65.00 20.50x
Weighted EPS Growth March 2023E 25.5 105.00 24.30
PEG Ratio (excludes cash) 2023E 0.50x 62.00 0.8x

T12M PE 19.00x 67.00 28.50x
Weightage of stocks with PER gt 20 63.00 71.00 89.00
Weightage of stocks with PER gt 30 20.00 35.26 56.00
Source Quantum Asset Management Company Pvt Ltd
As of 31st January 2022, cash weight excluded
SP BSE-30 Index weight is based on
free-float. SP BSE 30 Index column depicts the
Fund fundamentals as a percentage of SP BSE 30
Index fundamentals. The figures mentioned in WTD
PER, WTD EPS and PEG ratio are calculated on the
basis of Bloomberg consensus estimates for
companies owned by the Fund as well as the
companies in the SP BSE 30 as of the reporting
date i.e. February 28, 2022.
48
Summary A significant allocation to public
equities using a disciplined, long-term,
bottom-up, value-driven research and investment
process for investing in the evolving Indian
stock markets
48

• Overall, economic policy is geared towards growth
• India is a party to global trade and tariff
  agreements
• Political risk exists but effect is more on
  specific sector reforms, rather than overall
  direction
• Indian companies and entrepreneurs have oriented
  themselves to live and thrive in free
  markets world class management
• While the macro-economy looks good, fiscal
  deficits could rekindle inflationary pressures, a
  hardening
• interest rate environment will put growth on a
  6 trajectory
• Infrastructure Lot of talk, little action
  inflection point?
• Yes, shake hands but count how many fingers you
  get back!

49
India A Wonderful Long-term Theme, But On A
Bumpy Road Requires

• Our Tried and Tested Research and Investment
  Process
• to give Clients with a Long-term investment
  philosophy a Channel

that aims to outperform on the Upside and limits
the Downside
50
Product Label
51
Product Label
52
Product Label
53
Product Label
54
Product Label
55
Product Label
56
For additional information, please
contact Sandeep Bhosle VP- Customer
Interaction Email SandeepB_at_QuantumAMC.com Mobile
91- 98-209-43101 Office 91-22-6144-7804 Fax
91-22-2285-4318 Website www.QuantumAMC.com Qua
ntum Asset Management Company Private
Limited Hoechst House, 6th Floor, Nariman
Point Mumbai-400021, India
57
Disclaimer Terms of Use
The data in this presentation are meant for
general reading purpose only and are not meant to
serve as a professional guide/investment advice
for the readers. This presentation has been
prepared on the basis of publicly available
information, internally developed data and other
sources believed to be reliable. Whilst no action
has been suggested or offered based upon the
information provided herein, due care has been
taken to endeavor that the facts are accurate and
reasonable as on date. Quantum AMC shall make
modifications and alterations to the performance
and related data from time to time as may be
required as per SEBI Mutual Fund Regulations.
Readers are advised to seek independent
professional advice and arrive at an informed
investment decision before making any investment.
None of the Sponsors, the Investment Manager, the
Trustee, their respective Directors, Employees,
Affiliates or Representatives shall be liable for
any direct, indirect, special, incidental,
consequential, punitive or exemplary damages,
including lost profits arising in any way from
the data/information/opinions contained in this
presentation. The Quantum AMC shall make
modifications and alterations to the performance
and related data from time to time as may be
required. Please visit www.QuantumMF.com to
read scheme specific risk factors. Investors in
the Scheme are not being offered a guaranteed or
assured rate of return and there can be no
assurance that the schemes objective will be
achieved and the NAV of the scheme may go up and
down depending upon the factors and forces
affecting securities market. Investment in mutual
fund units involves investment risk such as
trading volumes, settlement risk, liquidity risk,
default risk including possible loss of capital.
Past performance of the sponsor / AMC / Mutual
Fund does not indicate the future performance of
the Scheme. Statutory Details Quantum Mutual
Fund (the Fund) has been constituted as a Trust
under the Indian Trusts Act, 1882. Sponsor
Quantum Advisors Private Limited. (liability of
Sponsor limited to Rs. 1,00,000/-). Trustee
Quantum Trustee Company Private Limited.
Investment Manager Quantum Asset Management
Company Private Limited. The Sponsor, Trustee and
Investment Manager are incorporated under the
Companies Act, 1956. 21st March 2022 Mutual fund
investments are subject to market risks, read all
scheme related documents carefully.
58
58