From the research desk
Investing in under penetrated themes.
ICICI Pru ACE Strategy is ICICI Prudential Alternates' Multi/Flexicap PMS strategy. Unlike boutique, founder led managers, it operates within a large, institutionally backed AMC with a long operating history in Indian asset management. It is based on the belief that long term returns can be generated by investing in businesses benefiting from non zero sum, under penetrated themes in Indian equity markets. Businesses are evaluated through the Business Management Valuation framework, with allocations reflecting conviction.
A theme with its own name
Investment decisions run through the ACE lens specifically, businesses benefiting from Non Zero Sum, Under Penetrated themes, growth that does not come at a competitor's expense, rather than a generic growth or value label.
The theme dictates the map, not the mandate
Being sector and market cap agnostic, the ACE theme is expressed wherever it shows up in the market, rather than confined to a predetermined slice of it.
Fundamentals still drive the calls
Even within the ACE theme, portfolio construction is guided by changes in business fundamentals and valuations, not exposure to the theme by itself.