Frequently Asked Questions

Founded in 1998, the Lansdowne Partners Group was established with the objective of building a leading investment management partnership focused on delivering superior long-term investment returns and exceptional client service. The firm has been the recipient of multiple industry awards over the years, both for outstanding performance and operational Infrastructure. Lansdowne have more than 20 years of experience in managing funds globally. The Lansdowne Partners Group have 49% holdings in Ace Lansdowne.

Ace Lansdowne India Investment Fund, is a trust organized in India and registered with Securities and Exchange Board of India as a Category III Alternative Investment Fund. Ace Lansdowne Investments Services LLP acts as the Investment Manager of the Ace Lansdowne India Investment Fund. The Fund has established an open ended fund.

Ace Lansdowne India Equity Fund is a first scheme launched by Ace Lansdowne India Investment Fund. The fund seeks to generate positive Absolute Return in all market condition across time cycle of the Fund, while managing investment/portfolio risk. The Fund adds value by providing long term capital appreciation managing a multi cap portfolio of well curate approximately 20 companies filtered through well defined investment process.
The fund is long only, multicap. There is no minimum or maximum restriction on equity holdings; but in almost all times, the fund will be at least 50-60% invested in equities. The remaining will be invested in short duration bonds / liquid instruments / cash.

• Subscription/Redemption Frequency - Monthly
• Minimum Subscription Amount: INR 1 Crore

Ace Lansdowne India Large Cap Fund is a Second Scheme launched by Ace Lansdowne India Investment Fund. The Fund seeks to generate better return than benchmark by managing investment/portfolio risk. In order to achieve the investment objective the Fund will seek to invest primarily in Nifty50 securities on recognized stock exchanges in India. The fund adds value by providing long term capital appreciation managing a portfolio, primarily of NIFTY 50 companies filtered through well defined investment process.
The Fund is large cap long only. 80% of the value of the fund will be invested in NIFTY stocks all the time. The remaining could be invested in short duration bonds / liquid instruments / cash.

• Subscription/Redemption Frequency - Monthly
• Minimum Subscription Amount: INR 1 Crore

Ace focused 15 Fund is the third open-ended scheme launched by Ace Lansdowne India Investment Fund. The investment objective of the Fund is to generate capital appreciation from upto 15 high conviction stock portfolio of mid & small cap companies through contrarian investing.
The Fund is market cap agnostic, sector agnostic and more liquid, by filtering companies with high industry growth along with strong corporate governance, high quality management pedigree and superior execution capabilities.
The Fund will have exposure across the market cap & sectors and exposure to liquid instruments/funds will be maximum 20%.

• Subscription/Redemption Frequency - Fortnightly >
• Minimum Subscription Amount: INR 1 Crore

Step 1
Initial Document Request from the prospective investor
Collect PAN card of the prospective investor

Step 2
KRA/CKYC checks will be performed to check if the proposed investor is KYC Compliant.
If the proposed investor is not registered with CKYC/KRA portal then investor has to get it registered with KRA/CKYC Portal. Our Team will assist the investor to get it registered.

Step 3
Share on Boarding Documents with the Investor

• Private Placement Memorandum of the Fund
• Duly stamped Contribution Agreement
• Subscription Form
• Other Supporting Documents

Bank Account details of the Fund

Step 4
Document collection and submission
Investor has to submit following documents

• Duly signed Contribution Agreement
• Duly signed supporting documents
• Duly signed KYC documents
• Cancelled cheque
• PPM Acknowledgement

The Fund will be open for new subscriptions and redemptions on monthly basis. All subscriptions and redemptions requests shall be processed on the last working day of the month.

• Persons resident in India
• Persons resident outside India including non-resident Indians
• Hindu undivided families
• Banks
• Financial institutions
• Alternative Investment Funds
• Bodies corporate
• Partnership firms

Contributor has the right to have all or a portion of its Units redeemed on any Valuation Day provided, subject to:
(i) payment of the Additional Return if applicable;
(ii) any applicable redemption limit, in accordance with the AIF Regulations.
The redemption shall be effected at the Prevailing NAV on the relevant Valuation Day in respect of such Unit.

Integrity --- Excellence --- Passion --- Co- Ownership --- Fairness

Portfolio Management Services is an investment vehicle, where the management/administration of Client's funds are undertaken by the portfolio manager.

1. PMS can be offered only by entities which are registered with Securities and Exchange Board of India (SEBI) as Portfolio Managers.
2. Portfolio Management Services are completely supervised and regulated by the capital markets regulator in India, SEBI.

A wide range of individuals and organizations can invest in PMS, viz:

• Individual Indian Citizens
• Non-Resident Indians (NRI) as per RBI guidelines
• Association of Person
• Hindu Undivided Family (HUF)
• Partnership Firms/Proprietorship Firms
• Limited Liability Partnership (LLP)
• Registered or Unregistered Trusts
• Body Corporates

The total value of cash + securities submitted for PMS on the day of transfer should be a minimum of Rs. 50 Lakhs.
There is no upper limit to the investment amount

We provide Discretionary Portfolio Management Services (DPMS)-

• The portfolio manager independently manages the funds of the client in accordance with the needs of the client.
• The advantage of this is that the client is totally relieved of researching his options and thinking of his investments. Complete benefit of the portfolio manager's expertise is taken.

Ace Lansdowne Discretionary Portfolio PMS offers the below strategies:

1. Ace Lansdowne Multicap Strategy
2. Ace Lansdowne Absolute Return Strategy
3. Ace Focused 10 Strategy
4. Ace Lansdowne Liquid Strategy (only for facilitating a Systematic Transfer Plan)

Objectives:
Our main objective is to generate capital appreciation over the medium to long term.

1. Ace Lansdowne Multicap Strategy: The objective is to generate sustained capital appreciation through superior risk-adjusted returns across the time cycle and seeks to generate better return than benchmark (Nifty 500), while managing portfolio risk
2. Ace Lansdowne Absolute Return Strategy: The objective is to generate positive absolute returns in all market conditions across time cycle, while managing investment/portfolio risk
3. Ace Focused 10 Strategy: The objective is to generate long term returns across the market cycles by investing in maximum 10 high conviction stocks across sectors and market cap
4. Ace Lansdowne Liquid Strategy: The objective is to facilitate the investors by deploying their funds into debt and/or money market instruments with the intention of preserving capital & invest the same in intended strategy (as per client mandate) through Systematic Transfer Plan (STP)
   Our strategies are suitable for investors with a time horizon of 3 to 5 Years, however investors can redeem anytime without any exit load.

Key Features:

• The Portfolio Manager will not invest portfolio funds in the Securities which have rating lower than investment grade. Our internal research process and MQS will ensure the same.
• The Portfolio Manager will not invest portfolio funds in the Securities of any associates/group companies of the Portfolio Manager.

Our investment philosophy revolves around the following principles:

1. Strong commitment to the investment process with acute focus on good corporate governance as the core strategy
2. Identifying companies with strong fundamentals & growing business at valuations with adequate margin of safety
3. Disciplined Profit Booking and Re assess valuation / business model

The Portfolio Manager would endeavour to maintain a consistent performance by maintaining an optimal balance between safety and profitability aspects.

1. Our Investment Process follows a top down and bottom up approach. The focus is to construct a portfolio by identifying companies with strong management and good corporate governance.
2. Utilizing opportunities available by disciplined profit booking and re assess valuations / business model

ACE LANSDOWNE MULTICAP STRATEGY
The strategy offers a right blend of top-down and bottom-up stock selection approach. Large-cap allocation is based on a mix of top-down and bottom-up approach, while bottom-up approach for our mid/small cap ideas based on fundamentals. It also invests in companies with strong corporate governance, high quality management pedigree and superior execution capabilities to generate better return than the benchmark (Nifty 500). Portfolio's exposure to Large Cap stocks will be minimum 50% & to debt and/or money market instruments/funds will be 20%

ACE LANSDOWNE ABSOLUTE RETURN STRATEGY
The strategy endeavours to generate positive absolute returns in all market conditions across time cycles of the strategy by actively manage a portfolio of carefully chosen approximately 20 companies filtered through well-defined Investment Process.

ACE FOCUSED 10 STRATEGY
This strategy endeavours to identify and invest in maximum 10 high-conviction stocks, primarily for long term. The aim is to identify and invest in companies which have high industry growth along with strong corporate governance, high quality management pedigree and superior execution capabilities. Portfolio's exposure to debt and/or money market instruments/funds will be maximum 20% at all times

ACE LANSDOWNE LIQUID STRATEGY
The strategy is to deploy investor's money for short term & preserve the client's capital by investing into debt and/or money market instruments filtered through well-defined checklist which includes vintage of AMC & Fund, expense ratio, duration of the fund, credit rating of the fund, track record of fund manager/AMC

There is no entry or exit loads charged in any of our strategies.

• The client is free to exit whenever he / she wishes to do so.
• The redemption proceeds are paid within T + 7 working days.
• In case of part redemption, as per statuary SEBI regulations, portfolio value of the investment should not fall below the Rs 50 lakhs mark.

• A systematic Transfer Plan is an investment vehicle offered to you, allowing you to invest amounts periodically.
• The invested amount would be parked in debt and/or money market instruments and the funds would be transferred systematically at the intervals in the PMS Strategy chosen by the Client.

Know about Ace Lansdowne Absolute Return PMS Strategy and Ace Lansdowne Multicap PMS Strategy STP here
Know about Ace Focused 10 PMS strategy STP here

No.

• As long as the condition of minimum investment amount of Rs. 50 lakhs as applicable is met the amount can be divided into any of our existing strategies
• A separate demat account will have to be opened for each strategy
• The total investment amount will have to be transferred in any one strategy pool account Eg. A client invests Rs. 50 Lakhs and wishes to divide the same into Rs 25 Lakhs each into Ace Lansdowne Multicap Strategy and Ace Lansdowne Absolute Return Strategy respectively OR any other strategy subject to the minimum investment criteria of that strategy. The client will be required to open a separate demat account for each strategy and transfer the decided amount into each strategy pool account

Yes, you can open a PMS account with cash or a combination of securities and cash or only securities.
Within 5 working days from date of your investment, the portfolio manager will sell / encash the securities completely.

• Each securities transaction is considered as an independent trade and capital gains tax are applied on each such transaction depending upon whether the relevant stock was held for the long term or short term.
• Short Term Capital Gains : 15% tax + Surcharge + Education cess at the prevailing rates will be applicable.
• Long Term Capital Gains : 10% tax + Surcharge + Education cess at the prevailing rates will be applicable.
• In addition to the above the STT charges will also apply.
• Equity dividend income and tax on interest are also added to the client's income and will be subject to tax as per the prevailing rates.
• You will receive relevant details on your transactions, but final tax liabilities and the payment thereof will need to be discussed by you directly with your tax consultant because taxation laws & slabs may change from time to time

AIF Category III Schemes	PMS Strategies
As per SEBI Regulation Minimum Investment Amount - Rs. 1 crore	As per SEBI regulation Minimum Investment Amount - Rs. 50 lakhs
Only an AIF application form needs to be signed to open an account.	A separate demat account has to be opened for each PMS strategy + Contribution Agreement
In AIF units will allotted against the investment amount.	In PMS actual securities are credited to the respective demat account
The tax is paid by the Fund and there is no tax liability in the hands of the investor	The client has to consult his tax advisor to file his returns. The Tax liability is on the client