AIF · Equity · CAT III - Mid/Small Cap
IKIGAI Emerging Equity Fund
Fund size₹3,837 Cr
IRRSince inception7.53%
1Y return18.21%
Fund age2 yrs 2 mo
From the research desk
Built on the core values of Trust, Process and Performance
IKIGAI Emerging Equity Fund is IKIGAI Asset Managers' Mid and Small Cap AIF strategy from a boutique India focused investment manager. It aims to generate long term, risk adjusted returns through a high quality, growth oriented portfolio that compounds capital steadily while maintaining relatively lower volatility through disciplined stock selection. The process screens over 5,500 listed companies down to a focused research universe.
Ten stated rules, including what not to do
Follows ten explicit investment principles, including avoiding businesses that need leverage, refusing to chase a rising price without a valuation case, and deliberately not over diversifying, rather than a general philosophy statement.
Tracks the business, not the price
Holdings are reviewed continuously so the portfolio stays aligned with how the underlying businesses are actually evolving, not just how prices are moving.
Bottom up ideas, top down discipline
Bottom up stock selection is complemented by a top down portfolio overlay that guides sector and portfolio level positioning and supports diversification.
Fund Manager
Pankaj Tibrewal
Pankaj Tibrewal
Founder & CIO, Ikigai
Pankaj Tibrewal is the Founder and CIO of IKIGAI Asset Manager. He spent over two decades in fund management, including a 14-year stint at Kotak Mahindra AMC where he ran the Kotak Emerging Equity Fund, Kotak Small Cap Fund and the equity portion of Kotak Equity Hybrid Fund, together managing assets of roughly Rs 56,000 crore. He grew Kotak Emerging Equity Fund from about Rs 113 crore to Rs 36,000 crore and Kotak Small Cap Fund from about Rs 127 crore to Rs 13,000 crore. He holds a Bachelor's degree from St. Xavier's College, Kolkata and a Master's in Finance from the University of Manchester, and has been recognised among India's top fund managers by Outlook Business, The Economic Times and Morningstar.
Managing AUM–
Growth of₹Cr
IKIGAI Emerging Equity
Returns: How it has done
Scheme / BenchmarkYTD1Y2Y3Y5YSince inception
IKIGAI Emerging Equity—18.21%5.85%——7.53%
Nifty 500−7.78%12.61%2.49%——4.95%
Excess over benchmark—5.60%3.36%——2.58%
Returns up to one year are absolute; two years and above are annualised (CAGR). YTD is calendar-year-to-date. As on 31 Aug 2026.
Portfolio Details : Where the money actually sits
Stocks
52
P/E ratio
27.00
Median market cap
₹45,154 Cr
Asset class
Equity
Market cap
Large cap9.99%
Mid cap43.52%
Small cap45.23%
Cash & others1.26%
As on 31 Aug 2026
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