PMS · Equity · Flexi Cap
Renaissance - Indianext Portfolio
Fund size₹921 Cr
Alpha (3Y)1.80%
3Y return13.52%
Fund age8 yrs 4 mo
From the research desk
Rotating with the evidence, not the headlines.
Renaissance India Next Fund is Renaissance Investment Managers' equity strategy built on a quality biased philosophy, focused on businesses that can deliver sustainable, high growth over the medium to long term while staying selective in cyclical businesses rather than chasing them across the cycle. The process starts top down, identifying macro themes shaping the economy, then picks stocks bottom up using the firm's SQGARP framework, sustainable business model, quality, growth and a fair price.
Seven named risks, not a general risk view
Every holding is explicitly screened against seven distinct risks, Quality, Price, Management, Financial, Volatility, Mortality and Event, with position sizes adjusted against each one individually.
Cyclical or structural, sized differently
Sectors are classified as either cyclical or structural and sized on that basis, a read that is revisited as evidence changes rather than held rigidly through the cycle.
Fair price over a good story
Focus stays on a sustainable business model, real quality in moat, pricing power and management, and a fair price, rather than paying up for a compelling narrative.
Fund Manager
Growth of₹Cr
Renaissance Indianext
Returns: How it has done
| Scheme / Benchmark | YTD | 1Y | 2Y | 3Y | 5Y | Since inception |
|---|---|---|---|---|---|---|
| Renaissance Indianext | −2.18% | 2.85% | −2.18% | 13.52% | 17.79% | 13.89% |
| Nifty 500 | −1.02% | 4.72% | −0.11% | 12.09% | 10.90% | 12.78% |
| Excess over benchmark | −1.16% | −1.87% | −2.07% | 1.43% | 6.89% | 1.11% |
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.
Risk : What you take on to earn the return
Volatility
16.70%
Benchmark approx 14.71%
A standard deviation reflecting historical swings.
Sensitivity
0.99
Beta vs benchmark 1.00 · 1% less reactive
How strongly the scheme moves with the index.
Risk-reward
0.54
Sharpe
Excess return gained per unit of volatility.
Capture ratio
106 / 100
Upside / Downside Capture
Share of market gains captured versus losses absorbed.
How far below its previous high it fell
Over the trailing 3Y window the scheme fell −22.85% from its 20 Oct 2024 peak to a 31 Mar 2026 trough. It has not yet recovered.
Max drawdowns
−22.85%
Scheme Drawdown Trajectory
| Drawdown analysis | Peak | Trough | Depth | Fell over | Recovered | Recovery took |
|---|---|---|---|---|---|---|
| Scheme | 20 Oct 2024 | 31 Mar 2026 | −22.85% | 527 days | – | – |
| Benchmark | 30 Aug 2024 | 28 Feb 2025 | −18.59% | 182 days | – | – |
Scheme
Peak20 Oct 2024
Trough31 Mar 2026
Depth−22.85%
Fell over527 days
Recovered–
Recovery took–
Benchmark
Peak30 Aug 2024
Trough28 Feb 2025
Depth−18.59%
Fell over182 days
Recovered–
Recovery took–
The benchmark's peak, trough and recovery are read off its month-end curve; the scheme's row is measured on daily NAV. · Risk and drawdown use a trailing 3Y window · As on 31 Aug 2026
Portfolio Details : Where the money actually sits
Stocks
35
P/E ratio
24.73
P/B ratio
3.10
Dividend yield
0.73%
Avg market cap
₹2.11 L Cr
Median market cap
₹85,802 Cr
Asset class
Equity
Market cap
Large cap34.30%
Mid cap28.12%
Small cap34.96%
Cash & others2.62%
As on 31 Aug 2026
Fees
A fixed plan is cheaper when returns are strong. A performance plan costs less in lean years and shares the upside only when the fund beats a hurdle. Both cost the same at a 14.67% gross return.
FixedPlan A · SimpleFixed Management Fee2.50% / yr
Performance FeeNone
Hurdle RateNot applicable
VariablePlan B · Shared upsideFixed Management Fee1.50% / yr
Performance Fee15% of profit
Hurdle RateAbove 8%
Exit load 1.00% within 1 year, 1.00% within 2 years, nil after 3 years. Lock-in: Nil.
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