1. Deep Understanding, Better Results
Right Horizons – Flexicap Portfolio
“It’s far better to buy a wonderful company at a fair price
than a fair company at a wonderful price.”
- Warren Buffet
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Recent investment environment has been particularly
tough for Indians; with high inflation, lower purchasing
power coupled with the fact that risk-assets have provided
with little or no return over the past few years. This has
lead to erosion of wealth in the medium term. The ability
to provide for inflation beating returns with lower risk is
truly the need of the hour.
Portfolio Characteristics and construct:
Typical portfolio holdings could range between 30-35 stocks, bonds,
ETF’s or derivatives, though predominant holdings would be in
stocks across market capitalization
The investment into different securities would carefully be done with
the following aspects in mind:
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Presenting
RH Flexi Cap Portfolio
a truly dynamic portfolio with the ability to
participate into assets classes according to medium
term macro economic outlook. The portfolio could
typically have equities, commodities, derivatives
and fixed income instruments, though the
overwhelming portion could comprise of equities
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We aim to deliver the same by our superior research
pedigree built over the past few years with bottom up
security selection in the multiple asset space and our
macro understanding to manage the equity investment.

Flexicap is built to suit the macro situation prevailing at
any point in time. This means the portfolio composition
changes every 8-12 months meaningfully depending
upon how the prevailing condition on the Global/Indian
macro
The portfolio has the ability to participate on
opportunities across asset classes and captures the upside
in any asset class that might be positioned to deliver
Though the investing strategy is built to suit for the
short/medium term; investor’s with long term horizons
can invest and gain on the back of superior timing and
asset allocation skills built for this portfolio
No specific sector cap in the portfolio is envisaged,
however no individual stock would comprise of over
15% of the portfolio NAV
The ideal investment horizon is envisaged at 12 months,
however longer duration holding would capture cycles
within asset classes and enable significant value creation

2. 5 Reasons To Invest in RH Flexicap Portfolio
Portfolio Constructed on Strong Pillars
Flexicap Portfolio has the flexibility to participate across
different asset classes and thereby offer better steady
returns irrespective of general Macro Economic
conditions
Equities
Fixed Income
Bonds
Gold as an Hedge
Gold has been a part of the portfolio as a strategy to
protect downside Gold returns in 2011 in the portfolio has
been above 30% Trades have been taken at strategic levels
and profits taken out at peak levels during the year This
has cushioned the impact of rapid fall in mid/small cap
counters
Gold
Pillars Of Excellence
Bond - Inversely Correlated With Equity
The addition of long duration bonds to the portfolio has
been a conscious effort to provide for stellar returns
when the rate cycle turns. By December 2011 bonds
constituted 10% of the portfolio and at this moment
constitute 12 - 13% of the portfolio value. We believe
that the kind of upside that we have seen in Gold in
2011 and earlier periods, should be possible in bonds in
2012 and the portfolio would be in a position to take
advantage of this opportunity
RH Flexicap Portfolio in a Nutshell
Though the portfolio is well diversified across market
capitalization, during highly volatile situations, the portfolio
does not shy away from investing marginally into fixed
income securities to protect capital and returns.
As a result, the flexibility to run the portfolio and deliver
sustainable returns is assured more often than not.
Does Lower Risk Yield Less Returns ?
Certainly not! A flexicap strategy is positioned to grow meaningfully over a longer period of time. A single asset portfolio
might outperform for in certain period but in the long term it’s the mixed asset portfolio which yields controlled
performance.

3. Key information
Points to remember
RH Flexicap Portfolio
Minimum Initial investment amount
Entry Load
Exit Loads
Annual charge
Recommended Duration of investment
SIP frequency
SIP minimum ticket
Benchmark
Fund Manager
INR 1.0 million (with a composite of INR2.5 million per PMS account)
1.5%
1% if exit within one year; NIL thereafter
2.0% of NAV, calculated quarterly.
12 months
Monthly
INR100,000
BSE - 500
Vinayak Kanvinde
Contact Us
Corporate Office:Right Horizons Portfolio Management Pvt. Ltd
#6, Arekere, Opp. British Biologicals Bannerghatta Road, Bangalore-560069
Contact No: +91 80 32718679/41209582
Branch:Mumbai
512A, Arcadia, Hiranandani Estate, Off Ghodbunder Road, Patlipada, Thane (W) - 400 607.
Contact No: +91 22 3225 2864/4100 2018