Quantum Long Term Equity Value Fund (QLTEVF): Quantum’s Flagship Fund since 2006
                     PanelQ Duiascnutussmio Lno onng  ATesrsmet  ECqlausitsye sV aolfu Eeq Fuuitnyd, Debt 
& Gold
FebSrpueaarkye r2s:0 21
Sorbh GuPpritvaa t–e F &u nCdon Mfidaennatgiaelr, Equity
Chirag Mehta – Sr. Fund Manager, Alternative Investments
December 17, 2020
1
TABLE OF 
CAbOoutN UsTENTS
About Quantum Mutual Fund
Our Research and Investment Process
Overview - Indian Economy
QLTEVF Fund Performance
Risk, Summary and Conclusion
ABOUT US
4
Group Update – The Past 25 Years
 Set the foundation for building an India-focused investment management institution 
across the 4 major asset classes: equity, fixed income, real estate, infrastructure: 
Steady growth in assets, disciplined approach attracting clients   
 Need for multiple asset classes to reduce the business risk of being dependent on any 
ONE product:
      India is not mainstream - huge volatility in valuations and client interest
 1990 to 2004:  investment processes refined by affiliation with international groups
 2004 to 2008:  invested in people
 2004 to 2008:  incubated teams to diversify business risk
 2008 to 2009:  invested in world-class systems
 2010 onwards: maintaining our focus and discipline; succession planning
Our Journey so Far 
• Quantum Gold • Quantum Gold • Quantum Dynamic 
Fung Savings Fund Bond Fund 
• Quantum Nifty ETF • India’s first fully • Transactions 
• Set up • Quantum Tax paperless Online through Email, • Launch of 
Quantum AMC Saving Fund Investing Platform WhatsApp & Fax Regular Plans 
2005 2006 2008 2009 2011 2012 2015 2016 2017 2019
• Quantum Long • Quantum • Quantum Multi • Quantum Long • Quantum India 
Term Equity Equity Fund of  Asset Fund of Term Equity Fund ESG Equity 
Value Fund Funds Funds completes 10-year Fund
• Quantum Liquid • “Path to Profit” track record
Fund Launched 
6
About our Sponsor– Quantum Advisors Pvt. Ltd.
 Currently managing an AUM of USD 2.76 Billion (~INR 20,292 crore) as 
February 28, 2021
Manages Indian equity investments for some of the largest institutions in the 
world, including Sovereign Wealth Funds, pension funds, endowments, and 
foundations
Currently registered as a Portfolio Manager with SEBI and other international 
regulators
Quantum Advisors is 50.8% owned by Mr. Dayal and the Management Team 
and 49.2% owned by HWIC Asia. HWIC Asia is ultimately promoted and wholly 
owned by Fairfax Financial Holdings Limited (“FFHL”). FFHL is listed on the 
Toronto Stock Exchange and is led by Mr Prem Watsa, known as the Warren 
Buffet of Canada
ABOUT 
QUANTUM MUTUAL 
FUND
8
About Quantum Mutual Fund
Quantum Mutual fund was established in 2006 with the launch of the Quantum 
Long Term Equity Value Fund
Quantum Mutual Fund was the 29th, but India’s 1st  Fund house that started with 
a focus on a Low Cost Approach for investors
Simple range of funds: No confusion for investors 
Disciplined Research and Investment Process: Team-driven, no “star” fund 
managers
Staying the course, no short cuts: Asset Managers, not Asset Gatherers
 Quantum MF AUM  = Rs.1,978.61 Cr. as on 28th February 2021
 Number of Folios: 70,886 as on 28th February 2021
Company Structure
Quantum Advisors, India  (QAS), provides investment advisory services 
and manages portfolios of FIIs and Indian clients. Registered as 
Portfolio Manager with SEBI since 1997. It is led by Mr. I. V. 
Subramaniam (Subbu), who is the MD, CEO & CIO of the company.
• Subbu joined Quantum in 1996 and has over 25 years of experience 
in the investment management and financial services industry. Since 
June 2000, Subbu has managed India-dedicated portfolios for Indian 
clients and since 2005, he has managed India-dedicated portfolios for 
international clients. Subbu received his Bachelor’s degree in 
commerce from Osmania University in 1983 and his Law degree from 
Osmania University in 1986. He is a CFA Charter holder. Subbu was 
born in 1962. 100% subsidiary of 
QAS
Quantum Asset Management, India (QAMC) SEBI Registered Asset 
Management Company and Investment manager for Quantum Mutual 
Fund. It is led by Mr. Jimmy Patel, who is the  MD & CEO of the company.
• Jimmy Patel joined Quantum in 2010 and has over 3 decades of 
experience in the financial services sector, and has held various key 
management roles. Along with holding a Chartered Accountant’s 
degree, Mr. Patel has also completed his L.L.B. from the University of 
Mumbai. Mr. Patel is a Fellow of the Chevening Standard Chartered 
Financial Services Leadership Programme at Kings College, London. 
He has been a Director on Association of Mutual Funds In India (AMFI) 
Board and also has been a member of various AMFI and SEBI 
Committees. Jimmy was born in 1967.
10
Always Putting Investors First, Even Above our 
Growth in AUM
Quantum Mutual SEBI Imposes Rule on 
Fund MF Industry
Refused to follow the opaque Entry Load Model Mar 2006 Jun 2009
Pioneered Direct to Investor, despite Slow Internet Speed and 
Mar 2006 Jan 2013
No Smart Phones
One Scheme / product per asset class Mar 2006 Oct 2017
Exit Load swept into funds for the benefit of Unit Holders Mar 2006 Nov 2012
No Discrimination against Retail Investors Mar 2006 Sep 2012
Introduced the practice of following Total Return Index (TRI) as 
Mar 2006 Jan 2018
benchmark for Equity Fund
Majority of Independent Directors on AMC Board Mar 2006 ?
Path to Profit (Investor Education & Awareness Program) Aug 2009 Sep 2012
100% Independent Board of Trustees Oct 2010 ?
Mark to Market valuation in Liquid Fund, irrespective of the 
Jul 2012 April 2020
maturity 
ZERO Upfront Distributor Commission and uniform trail 
Apr 2017 Sep 2018
commission across all partners on Regular Plan
TER based on AUM Slabs Feb 2017 April 2019
Profile of Management Team - 
QAMC Jimmy Patel 
MD & CEO  (2010)
Jimmy Patel has over 3 decades of experience in the financial services sector, and has held 
various key management roles. Along with holding a Chartered Accountant’s degree, Mr. 
Patel has also completed his L.L.B. from the University of Mumbai. Mr. Patel is a Fellow of the 
Chevening Standard Chartered Financial Services Leadership Programme at Kings College, 
London. He has been a Director on Association of Mutual Funds In India (AMFI) Board and 
also has been a member of various AMFI and SEBI Committees. Jimmy was born in 1962.
Rina Nathani 
Chief Business Officer (2020)
Rina has over 20 years of experience in building businesses, advising companies and leading 
teams to successful outcomes. Prior to joining Quantum AMC, Rina was a Director in KPMG’s 
Advisory Practice in the US and  Head – Retail Businesses at Suminter India Organics, India. 
She has done Masters in Management Studies from Jamnalal Bajaj institute of Management 
Studies (JBIMS). Rina was born in 1974. 
Malay Vora 
Head Legal & Compliance  (2008) 
Malay Vora has more than 15 years of experience in Legal, Compliance and Corporate 
Secretarial matters in the financial service industry. He is a Commerce and Law Graduate and 
an Associate Member of Institute of Company Secretaries in India. Malay is the Head of Legal 
& Compliance and the Compliance Officer for Quantum AMC. He has been associated with 
Quantum since 2008. He is a SEBI Committee member and has represented Quantum at an 
AMFI committee in the past. Malay was born in 1977.
Sandeep Bhosle 
AVP Investor Interaction  (2011)
Sandeep Bhosle has more than 18 years of experience in Financial Services and Market 
Research. He a Post Graduate in Marketing Management. He has Completed Medium and 
Small Scale Industries Management Development Program from NMIMS. Prior to Quantum 
AMC, he has been with ICICI Prudential and Birla Sunlife Insurance and has been 
instrumental in developing Rural Markets and New Initiatives, Process Quality, Loyalty 
Programs, R&R Initiatives.
Rajendra Gadiyar 
Head Operations  (2011) 
Rajendra brings with him more than 2 decades of experience in Operations and Fund 
Accounting in Mutual Funds and Insurance. Prior to joining Quantum, he was associated with 
various companies across Insurance, Asset Management and Investment Management 
sectors. Rajendra was born in 1968. 
Meera Shetty 
Head Investor Services  (2006) 
Meera Shetty has almost two decades of experience in Investor Servicing. Before joining 
Quantum, she was associated with Edelweiss AMC, Principal AMC and UTI-TSL. She holds a 
degree in Commerce and is an MBA with dual specialization in Finance and Marketing. Meera 
was born in 1969.
Portfolio Team – Equity 
Sorbh Gupta Nilesh Shetty Sneha Joshi Hitendra Parekh 
(2011) (2009) (2015) (2004)
Qualified as a Chartered Nilesh has more than 16 With over 7 years of Has close to 3 decades of 
Accountant, CFA Level III years of experience in experience in economic, experience in financial 
(Charter Pending), Sorbh research. He has been a credit and quantitative services industry. Prior to 
Gupta is the Fund part of Quantum Asset research. Sneha holds a working with Quantum, 
Manager for Quantum Management Company Ph.D. in Economics and he has been with the Unit 
Long Term Equity Value since 2009, and at has earned an M.A. in Trust of India for 4 years 
Fund & Quantum Tax present is the Fund Economics from Gokhale and UTI Securities Ltd for 
Saving Fund. With more Manager for Quantum Institute of Politics and 9 years. He has 
than 15 years of Long Term Equity Value Economics. She joined completed his B.Com & 
experience in equity Fund and Quantum Multi Quantum AMC in August, Masters in Financial 
research as well as Asset Fund. Nilesh is a 2015. Prior to joining Management from 
managing funds; Sorbh qualified CFA (Chartered Quantum, she was Mumbai University. 
brings with him a wealth Financial Analyst), ACMA associated with Credit Hitendra was born in 
of experience of having (CIMA, UK) and has Capital Research as a 1968.
tracked varied sectors in completed his Masters in fixed income research 
his previous work Management Studies analyst. Sneha was born 
assignments. Prior to (Finance) from the in 1988.
joining Quantum, Sorbh Mumbai University. Nilesh 
was associated with was born in 1980.
Siddhesh Capital Private 
Ltd. Sorbh was born in 
1980.
Portfolio Team – Non Equity 
Pankaj Pathak Chirag Mehta (2006) – Ghazal Jain (2020) – 
(2013) – Fixed Gold/Commodities Gold/Commodities
Income has overall 4 years of has 18  years of experience in the  Indian experience in the field of 
has over a decade of experience commodities markets. He also specializes in the finance and alternative 
in Fixed income investments and field of alternative investment strategies. Chirag investments including of Gold, 
research. He joined Quantum is a qualified CAIA (Chartered Alternative Asset Allocation and Personal 
Asset Management Company in Investment Analyst), and has also completed his Finance & investment 
August, 2013 and at present, is Masters in Management Studies in Finance. He allocation. She has been with 
Fund Manager for Quantum currently manages funds largely in the field of 
Dynamic Bond Fund and Quantum Quantum Asset Management alternative investments that includes Gold Fund, 
Liquid Fund. Prior to joining Company since January, 2019. a Multi asset fund and an Equity fund of funds 
Quantum, he was associated with Prior to joining Quantum, she and is also a Fund Manager of Quantum India 
Bank of Maharashtra. Pankaj holds was associated with Fox 
a Post Graduate Diploma in ESG Equity Fund. He joined the Quantum after Education LLP and Bahubali 
Banking & Finance from National gaining hands on experience in the physical Electronics Private Limited.
Institute of Bank Management, commodities market during internship with 
Pune and is qualified CFA Kotak & Co. Ltd and working on projects for the 
(Chartered Financial Analyst). Federation of Indian Commodities Exchanges. 
Pankaj was born in 1986. Chirag was born in 1981. 
Criteria to Select a Good Fund House
•
PEOPLE What is the background?• What is the experience?
• Is there a clearly defined investment 
PHILOSOPHY philosophy across all market situations or is this a ride-the-wave, “bull-market” 
manager?
•
PROCESS What is the research and investment process and how reliable is it?
PERFORMANC • Given the process, is the performance 
E as predictable as it should be? 
OUR RESEARCH & INVESTMENT 
PROCESS
Stock Markets Offer Real 
Opportunities
 Market cap: USD 2,574 bn
 4,000+ listed companies
 314 companies market cap > USD 1 bn
 886 companies market cap  > USD 100 mn
 Daily trading volume USD 8.84 billion/day for the period Mar 2020– Feb 2021
 420 companies with daily avg traded > USD 1 mn
 304 companies with daily avg traded > USD 2 mn
 Represents many “real” industries: not only financial services and property stocks
 Equity culture – Bombay Stock Exchange over 130 years – oldest in Asia
 Newer electronic NSE is the 3rd largest stock exchange in the world by volume 
Source: Quantum AMC, Bloomberg, SEBI and Tata Services Ltd As of Dec 31st, 
2020
Our Macro Assumptions 
The 4 inputs to our bottom-up stock selection 
process
Our estimate Current readings Comments
Fiscal response may improve 
GDP, 6.0% to 6.5% 0.4% growth outlook. Growth may trend 
long-term (Old Series) (Oct 20-December 20) above our estimate if 
implementation picks up
We expect inflation to be near 5% in 
Inflation 5.0% to 5.5% 5.0% FY 2022 as high import duties 
increase domestic cost of goods
High fiscal spending and high 
Long term:
inflation will lead to higher bond 
7.0% to 7.5%
10-year bond 6.2% yields over the next year. RBI 
Short term:
managing bond yield curve with 
5.75%-6.25% 
Operation Twist and LTRO
RBI dollar buying at record pace to 
+/-2%
arrest INR appreciation. RBI has 
FX rates (INR /USD in INR/USD=73.0
enough FX reserves to buffer any 
 a 73-78 band)
sharp depreciation
Source: Quantum AMC estimates, as of February 2021
Value Investing– Quantum Mutual Fund
 We follow the Value investing strategy that involves buying companies at 
discounts to their long-term intrinsic value 
 We focus on the long term potential of the business 
 We normalize our assumptions - we do not value the companies on the basis of 
peak or trough margins
 While valuing the company, we would generally give a 40% discount to its intrinsic 
value to set our buy limits 
 Typical characteristics of the portfolio following Value Investing strategy:
• Low price to earnings ratio
• Low price to book ratio
• Low price to sales multiple
• Low price to cash flow
• High dividend yield
Our Investment Criteria - 
Value
01 Evaluate 02 Analyze 03 Buy 04 Sell
• The business of the • The stock price of • Current price is • Current price is > 
company the company based generally 40%+ our estimate of long-
• The environment in on fundamentals lower than our term value
which it operates relative to its peer estimate of long- • Better Investment 
• The management, group, its history, term value (in case Alternatives
and their long-term and the market of first time buy) • Changed view of 
goals management, 
• Can the financials • PER, PCF, P/BV, Div Changed view of 
support the long- Yld, EV/EBITDA business
term goals?
Quantum’s Bottom-Up Stock Selection Process
Clients get best of bottom-up ideas with a risk control measurement for each sector
Generally, < 20% of the stocks we cover meet our “Buy” criteria
PORTFOLIO  25 to 40 stocks
Portfolio of stocks with broad exposure to various sectors. 
Approved by the portfolio team
Reflects three broad themes: domestic consumption, exports and infrastructure
VALUE AND INTEGRITY SCREENING  201 stocks
Analysts study stocks in their sector (India) with global comparison, travel worldwide, prepare 
detailed projections. Regular research meetings to review ideas and approve stocks for the 
database. Consensus required. 
All stocks are reviewed time to time generally within 180 days.
We must trust the managements/founders
ADDRESSABLE UNIVERSE  327 stocks
Number of companies trading over US $1 million/day
Number of stocks mentioned are as per current average trading volume value criteria. The number of Stock in trading volume criteria, and in portfolio will be changed 
from time to time based on Investment Strategy of the scheme. 
Portfolio Construction 
Stock under active No
coverage? To research 
Volume INR 6.98 CrYsE pSer 
team
day
Part of S&P BSE-30 Index?
No effect on decision
Below Buy limit? No Wait
YES
What sector?
Indifferent; guided by Weights assigned to a stock 
Research
Portfolio of 25-40 stocks are a function of:1) Reliability of management
Investment 2) Quality of earnings
Rules 3) Stability of earningsMinimum wt 2% at cost
Maximum wt 6% at cost 4) Upside Potential
Maximum wt 10% at market value 5) Alternatives/Cash
Our portfolio turnover is typically 20%, suggesting a 5 year holding period. Please refer Scheme Information Document of the Scheme for complete 
Investment Strategy
A Tale Of Two Stocks – Since 
1991
(1) We buy liquid shares of good (2) Illiquid stocks give managers the fees 
businesses – investors get nothing
Source: Bloomberg Finance L.P., As of  February 28, 2021
Disclaimer : The stocks discussed herein are for information purpose only. This is not a recommendation to buy or sell any security. 
OVERVIEW- INDIAN 
ECONOMY
Myth #1- “India will grow 8% P.A” 
If the world slips sideways, India will grow...as it has over the past 39 
year We believe 6.5% Real GDP growth is a realistic long term assumption
Source: RBI and www.parliamentofindia.nic.in as of June 2019. Note: The number in red rectangle is from a changed data series starting Jan 2015. While a 
“superior” series, there is no comparable number to equate the “New” with the “Old”. Most economists deduct 0% to 1.5% from the “New” to equate to the 
“Old”; therefore under Modi, the GDP has been at 5.9% at best matching the 5.6% under the BJP-led coalition government of Vajpayee that resulted in a rout for 
the BJP at the time of the next election in 2004!* Please note that data used for World GDP for 2017 is a median Estimate since World Bank data is not yet 
available and India GDP data is governments second advance estimate released at the end of May.
Myth #2 – Make in India will Boost Exports
Sector Contribution To GDP
90%
29
80% 41
70% 53
60% 15
50% 25 Services
40% Industry
30% 3056 Agriculture
20% 34 Exports18
10% 18
8
6
0%
Source: Quantum AMC, Google Images, Bloomberg Finance L.P.
Indians Still Consuming: The Hungry 
Consumers!
Year 2-wheelers Passenger Vehicles Refrigerators  Cement Home loans 
 (March end)  (Domestic sales Mn units) (Domestic sales Mn units) (Production Mn units)  (mn tn)
outstanding
 (Rs. bn)
2008 8,064,903 1.6 6.1 174 2,603
2009 8,439,786 1.6 6.7 187 2,794
2010 10,511,009 2.0 8.0 207 3,009
2011 13,302,335 2.5 8.7 216 3,499
2012 15,384,261 2.6 9.9 230 3,971
2013 15,753,563 2.7 11.1 248 4,567
2014 16,890,778 2.5 10.7 256 5,386
2015 18,433,027 2.6 12.0 270 6,285
2016 18,938,727 2.8 11.9 283 7,468
2017 19,928,958 3.1 13.1 280 8,601
2018 23,007,691 3.3 13.5 298 9,746
2019 24,460,688 3.4 15.6 337 11,601
2020 20,936,201 2.7 15.0 334 13,498
2021 YTD * 14,752,622 1.9 6.8 232 14,175
CAGR (since 2008 till 2020) 10.0% 5.8%   9.3% 6.7% 17.9%
2021 YTD data: Two-wheeler sales data as on Jan '21, Passenger Vehicle sales data as on Jan ’21, Refrigerator data as on Dec ’20, Cement sales data as on Jan' 21, 
Housing loans data as on Jan 2021, Source: 2 wheelers, Cement & passenger vehicle – CMIE database; refrigerator production data – CMIE (IIP) database; home loans 
outstanding – RBI Data on Sectoral deployment of Bank credit (January 2021). ** Annualized Returns
India – Linked to Global Capital Flows, 
Not GDP
As a % of  Private  Exports of
 GDP Consumption  Goods & Services 
 India 
58.8 19.2
 China 
39.3 19.6 Lower global links
 Indonesia 
57.7 19.1
 Thailand 
50.7 68.9
 Malaysia 
54.9 67.7
 Brazil
64.0 12.5
 Russia
51.5 25.7
GDP https://data.worldbank.org/indicator/NY.GDP.MKTP.CD Source: World Bank database
Pvt consumption https://data.worldbank.org/indicator/NE.CON.PRVT.CD
Updated as of February 28, 2021
Exports (Goods & Services) https://data.worldbank.org/indicator/NE.EXP.GNFS.CD
QLTEVF FUND 
PERFORMANCE
Quantum Long Term Equity Value Fund – Must 
have equity diversified fund
Value Oriented Equity Diversified Fund since March 2006
Well balanced portfolio: typically 25 to 40 stocks, across sectors
Instrumental for Long Term Financial Goals like Retirement, Child’s Education, Child’s 
Marriage & Wealth Creation
A disciplined research and investment process
Low portfolio turnover: Very boring, Buy after Conviction, Hold it for long
Holds shares or cash: No derivatives, No hedging
Performance across the market cycles - (Mar 2006 
– Feb 2021)
Past performance may or may not be sustained in future. 
This graph should be reviewed in conjunction with detailed performance of the scheme provided on slide number32Source: Bloomberg
Performance of Quantum Long Term Equity Value 
Fund – 
TDhe iSrcheemce its  coP-mlaanagned  b–y  MGr. Srorobhw Gupttah an dO Mrp. Nitleisho Shnetty. Mr. Sorbh Gupta is the Fund Manager effective from December 1, 
2020. Mr. Nilesh Shetty is the Fund Manager effective from March 28, 2011.
Current Value of 10,000 Invested
at the beginning of a given period
Additional Additional 
Benchmark* Benchmark*
Period Benchmark Benchmark
 
Scheme S&P BSE S&P BSE S&P BSE S&P BSE
Returns (%) 200 TRI Sensex TRI 
Scheme 
(%) (%) (Rs)
200 TRI Sensex TRI 
 (Rs) (Rs)
1 year 35.09% 33.70% 30.00% 13,498 13,360 12,990
3 years 7.45% 12.06% 14.22% 12,403 14,067 14,894
5 years 13.83% 17.63% 17.89% 19,107 22,512 22,764
7 years 13.33% 15.44% 14.32% 24,017 27,328 25,515
10 years 12.03% 12.57% 12.23% 31,142 32,698 31,701
Since Inception (13th March 2006) 13.40% 12.16% 12.18% 65,710 55,749 55,887
• Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme returns calculation.                              Data 
as of 26th February 2021
• Different Plans shall have different expense structure. Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR).
•*with effect from February 01,2020 benchmark has been changed from S&P Sensex TRI to S&P BSE 200 TRI. As TRI data is not available since 
inception of the scheme, benchmark performance is calculated using composite CAGR S&P BSE 200 index PRI Value from March 13, 2006 to July 31, 
2006 and TRI Value since August 1, 2006
• For performance of other Schemes Managed by Mr. Sorbh Gupta please see slide  number 42 and for performance of other Schemes Managed by Mr. Nilesh 
Shetty please see slide 42
SIP Performance - Direct Plan Growth 
Option
SIP Investments Since 10 year SIP 7 year SIP 5 year SIP 3 year SIP 1 year SIP
Inception SIP
Total Amount Invested 
1,790 1,200 840 600 360 120
(Rs.‘000)
Mkt Value (Rs.‘000) 5,132.49 2,258.95 1,232.35 796.20 456.92 160.63
Scheme Returns 
13.05% 12.20% 10.82% 11.35% 16.32% 71.51%
(XIRR*) (%)
S&P BSE – 200 TRI 
12.73% 14.12% 14.02% 15.71% 20.08% 65.66%
Returns (XIRR*) # (%) 
S&P BSE Sensex TRI 
12.47% 13.90% 14.24% 16.57% 19.82% 59.62%
(XIRR*) @ (%)
  Data as of 26th February 
2021
Past performance may or may not be sustained in the future. Load is not taken into consideration using applicable NAV on the SIP day (5th of every 
month). Return on SIP and Benchmark are annualized and compounded investment return for cash flows resulting out of uniform and regular monthly 
subscriptions as on 5th day of every month (in case 5th is a non-Business Day, then the next Business Day) and have been worked out using the Excel 
spreadsheet function known as XIRR. XIRR calculates the internal rate of return for series of cash flow. Assuming Rs 10,000 invested every month on 5th 
day of every month (in case 5th is a non-Business Day, then the next Business Day), the 1 year, 3 years, 5 years, 7 years, 10 years and since inception 
returns from SIP are annualized and compounded investment return computed on the assumption that SIP installments were received across the time 
periods from the start date of SIP from the end of the relevant period viz. 1 year, 3 years, 5 years, 7 years, 10 years and since Inception. *XIRR - XIRR 
calculates the internal rate of return to measure and compare the profitability of series of investments. #Benchmark Returns. @Additional Benchmark 
Returns.
Performance of Quantum Long Term Equity 
Value Fund – 
Regular Plan – Growth Option
The Scheme is co-managed by Mr. Sorbh Gupta and Mr. Nilesh Shetty. Mr. Sorbh Gupta is the Fund Manager effective from December 1, 
2020. Mr. Nilesh Shetty is the Fund Manager effective from March 28, 2011.
Current Value of 10,000 Invested
at the beginning of a given period
Additional Additional 
Benchmark* Benchmark*
Period Benchmark Benchmark
 
S&P BSE S&P BSE S&P BSE S&P BSE
Scheme Scheme 
200 TRI Sensex TRI 200 TRI Sensex TRI
Returns (%) (Rs)
(%) (%) (Rs) (Rs)
1 year 34.43% 33.70% 30.00% 13,432 13,360 12,990
3 years 7.03% 12.06% 14.22% 12,259 14,067 14,894
Since Inception (01st April 2017) 7.73% 13.42% 15.19% 13,379 16,366 17,387
• Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme returns calculation.                             Data 
as of 26th February 2021
• Different Plans shall have different expense structure.
• Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR).
•*with effect from February 01,2020 benchmark has been changed from S&P Sensex TRI to S&P BSE 200 TRI. As TRI data is not available since 
inception of the scheme, benchmark performance is calculated using composite CAGR S&P BSE 200 index PRI Value from March 13, 2006 to July 31, 
2006 and TRI Value since August 1, 2006
• For performance of other Schemes Managed by Mr. Sorbh Gupta please see slide number 42 and for performance of other Schemes Managed by Mr. Nilesh Shetty 
please see slide 42
QLTEVF Monthly Cash Weight - Move To Cash 
When There Is No Value And Wait Patiently
    Source: Quantum AMC. As of  Feb 28, 2021
While Avoiding The “Illiquidity Trap” Is Critical To 
Our Investment Process, We Are Not Shy Of Owning 
Small Caps
Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Feb 2021
Market Cap
Numb Weig Numb Weig Numb Weig Numb
Numb Numb
er of ht er of ht er of ht er of 
Weig er of Weigh er of Weigh
Stocks Stocks Stocks Stocks ht Stock t Stock ts s
> INR 35,000 Crs 19 75% 17 75% 19 75% 17 69% 21 75% 21 75%
> INR 5,000 Crs,< INR 4 11% 3 9% 5 15% 8 18% 7 17%
35,000 Crs 7 19%
>INR 3,000 Crs,< INR 
5,000 Crs 0 0% 1 3% 0 0% 0 0% 0 0% 0 0%
< INR 3000 Crs 1 2% 0 0% 1 2% 1 1% 1 1% 1 0%
Total Stocks in portfolio 24 88% 21 87% 25 92% 26 88% 29 93% 29 94%
. 
     The number of stocks in portfolio will be changed from time to time based on Investment Strategy of the Scheme.  
Divergent Portfolio - Not the Index for Sure!
Even though we focus on buying liquid stocks, we do not necessarily buy Index stocks
Change for the month 
S&P BSE-200 Index Do we own it in the ended 
(Weight) QLTEVF?
February 26, 2021
Reliance Industries Ltd 8.25% #N/A 13.06%
HDFC Bank Ltd 7.65% 6.53% 10.32%
Infosys Ltd 5.62% 7.04% 1.02%
Housing Development Finance 
5.59% 8.90% 6.78%
Corp Ltd
ICICI Bank Ltd 5.05% 3.72% 11.28%
Total 32.16% 26.19% 42.46%
Source: Quantum Asset Management Company Pvt Ltd and  Asia Index Pvt Ltd 
As of  February 26, 2021
Stocks referred above are for illustrative purpose only and not recommendation of Quantum Mutual Fund / AMC. The Fund may or may not have any 
present or future positions in these stocks.  The above information should not be constructed as research Report or recommendation to buy or sell of 
any stocks. 
Portfolio Top 5 Holdings – Different 
Weights
QLTEVF S&P BSE-200 TRI
(Weight) (weight)
Housing Development Finance Corporation 
8.90% 5.59%
Ltd
Infosys Ltd 7.04% 5.62%
HDFC Bank Ltd 6.53% 7.65%
Wipro Ltd 4.97% 0.75%
Hero MotoCorp Ltd 3.39% 0.51%
Total 31.37% 20.12%
Source: Quantum Asset Management Company Pvt Ltd and  Asia 
Index Pvt Ltd 
As of  Feb 26, 2021
Stocks referred above are for illustrative purpose only and not recommendation of Quantum Mutual Fund / AMC. The Fund may or may not have any 
present or future positions in these stocks.  The above information should not be constructed as research Report or recommendation to buy or sell of 
any stocks. 
Sector Exposure of Our Bottom-Up Stock Picking 
Process S&P BSE-
MSCI 30 QLTEVF
AC World Index Decemb QLTEVF
QLTEVF QLTEVF
Sector Decemb Decemb
QLTEVF QLTEVF
November Novembe er December er er Dec Feb 
2019 r 2016 2017 2018 2019 2020 2021
2019
Communication 
Services 9% 2% 2% 2% 2% 0% 0% 0%
Consumer Disc. 11% 6% 23% 24% 19% 19% 17% 17%
Consumer Staples 8% 8% 0% 0% 0% 0% 0% 0%
Energy 5% 13% 9% 3% 3% 2% 2% 2%
Financials 17% 47% 16% 14% 25% 30% 29% 31%
Healthcare 12% 1% 3% 6% 6% 5% 6% 5%
Industrials 10% 4% 3% 1% 2% 0% 2% 3%
Materials 5% 3% 5% 4% 7% 8% 10% 10%
Real Estate 3% 0% 0% 0% 0% 0% 0% 0%
Technology 17% 14% 14% 15% 17% 17% 17% 16%
Utilities 3% 2% 13% 14% 12% 11% 10% 10%
Cash Equiv. 0% 0 12% 19% 8% 8% 7% 6%
Total 100% 100% 100% 100% 100% 100% 100% 100%
Note: Past Performance may or may not be sustained 
No. of  Securities 3,060 31 24 21 in futu2re5. 26 29 29
Sectors referred above are for illustrative purpose only and not recommendation oSf oQuuracnetu: mM SMCuI,t uQaul aFnutnudm /  AAMCC .|  TAhse o Ff u Fnedb m 2a8y,  2or0 2m1ay not have 
any present or future positions in these sectors.  The above information should not  be constructed as research Report or recommendation to buy 
or sell of any sectors / stocks.
Portfolio Top 10 
Holdings
Stocks Weights
Housing Development Finance Corporation 
8.90%
Ltd
Infosys Ltd 7.04%
HDFC Bank Ltd 6.53%
Wipro Ltd 4.97%
Hero MotoCorp Ltd 3.93%
Shriram Transport Finance Company Ltd 3.89%
Mahindra & Mahindra Ltd 3.88%
ICICI Bank Ltd 3.72%
ACC Ltd 3.60%
Ambuja Cements Ltd 3.58%
Total 50.04%
Source: Quantum Asset Management Company 
Pvt Ltd
Stocks referred above are for illustrative purpose only and not recommendation of QuantuAms  Mofu Ftueabl  2F8u n, d2 /0 2A1MC. The Fund may or may not 
have any present or future positions in these stocks.  The above information should not be constructed as research Report or 
recommendation to buy or sell of any stocks. 
Stocks we Own are Liquid
Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Feb 2021
No of NumNumb Numb Numb Numb Numb
trading days er of Weig er of Weig er of Weig er of Weig er of Weig ber Weig
to sell stock ht stock ht stock ht stock ht stock ht of ht
positions s s s s s stocks
Less than 1 20 77% 17 71% 21 78% 21 76% 26 87% 27 90%
day
1 day to 5 
days 4 11% 2 3% 2 8% 4 14% 3 6% 2 4%
5 days to 22 
days 0 0 2 6% 2 7% 1 2% 0 0% 0 0%
> 22 trading 0 0% 0 0% 0 0% 0 0% 0 0% 0 0%
days
Total Stocks 24 88% 21 81% 25 93% 26 92% 29 93% 29 94%
in portfolio
Based on average daily volume of portfolio stocks for the last one  year and Quantum’s trading share of  33%.
The number of stocks in portfolio will be changed from time to time based on Investment Strategy of the Scheme.  
Other Schemes managed by Sorbh Gupta and 
Nilesh Shetty
Quantum Tax Saving Fund 
Mr. Sorbh Gupta is the Fund Manager effective from October 1, 2016. 
Period 1 year 3 years 5 years
Scheme Benchmark Scheme Benchmark Scheme Benchmark
 
Returns (%) Returns (%) # Returns (%) Returns (%) # Returns (%) Returns (%) #
Quantum Tax Saving Fund- 
Direct Plan (Gr) 35.15% 33.70% 7.48% 12.06% 13.95% 17.63%
Quantum Tax Saving Fund- 
Regular Plan (Gr) 34.49% 33.70% 7.06% 12.06%
N.A. N.A.
Past performance may or may not be sustained in the future.  Data as of 26th February , 2021
#Benchmark returns. With effect from February 01,2020 benchmark has been changed from S&P Sensex TRI to S&P BSE 200 TRI. Returns are net of total expenses and are 
calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. Mr. Sorbh Gupta co-
manages 2 scheme of the Quantum Mutual Fund. 
Quantum Multi Asset Fund of Funds
Mr. Chirag Mehta and Mr. Nilesh Shetty are Fund Managers effective from July 11, 2012.
Period 1 year 3 years 5 years
Scheme Benchmark Scheme Benchmark Scheme Benchmark
 
Returns (%) Returns (%) # Returns (%) Returns (%) # Returns (%) Returns (%) #
Quantum Multi Asset Fund  of 
15.25% 17.51% 8.78% 13.11% 10.50% 12.88%
Funds*–Direct Plan (Gr)
Quantum Multi Asset Fund  of 
Funds*–Regular Plan (Gr) 14.90% 17.51% 8.54% 13.11% NA NA
Past performance may or may not be sustained in the future. Load is not taken into consideration in Scheme Return Calculation. Data as of 
26th February , 2021
# Indicates CRISIL Composite Bond Fund Index (40%) + S&P BSE SENSEX Total Return Index (40%) + Domestic price of Gold (20%).It is a customized 
index and it is rebalanced daily Returns are net of total expenses and are calculated on the basis of Compounded Annualized Growth Rate (CAGR). 
Different Plans shall have different expense structure. Mr. Chirag Mehta manages 5 schemes of the Quantum Mutual Fund. Mr. Nilesh Shetty manages 
2 schemes of the Quantum Mutual Fund.
RISK, SUMMARY 
AND CONCLUSION
44
Impact/Risk Analysis on The Portfolio – 
A Top-down View for Presentation Purposes
Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Feb 2021
Numb Numb Numb Numb Numb Num
er of Weigh er of Weigh er of Weigh er of Weigh er of Weig ber Weig
Stock t Stock t Stock t Stock t Stock ht of ht
s s s s s Stocks
Local 6 25% 5 24% 10 39% 11 41% 11 42% 11 44%
Opportunity
Global 
opportunity 11 41% 11 40% 10 39% 9 37% 12 40% 12 38%
Regulatory/Tari
ff 7 22% 5 17% 5 15% 6 14% 6 11% 6 12%
Total Stocks in 24 88% 21 81% 25 93% 26 92% 29 93% 29 94%
Portfolio
Note:
Companies where bulk of the sales come from India are classified under Local Opportunity
Companies where 25% or more, sales come from outside India are classified under Global Opportunity
Companies which have their pricing determined by government policies are classified under Regulatory/Tariff
The number of stocks in portfolio will be changed from time to time based on Investment Strategy of the Scheme.  
Indian Private /MNC/ Government
Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Feb 2021
Num Num Num Num
Events ber Weig ber Weig ber Weig ber Weig Numb Numbe
of ht of ht of ht of ht er of Weight r of Weight
Stock Stock Stock Stock Stocks Stocks
s s s s
Government 8 26% 6 21% 7 19% 7 19% 7 14% 7 15%
Indian Private 10 41% 8 35% 12 47% 12 45% 12 44% 12 45%
MNC 6 21% 7 25% 7 27% 7 28% 10 35% 10 34%
Total Stocks 
in Portfolio 24 88% 21 81% 26 93% 26 92% 29 93% 29 94%
The number of stocks in portfolio will be changed from time to time based on Investment Strategy of the Scheme.  
The Portfolio Relative To The S&P BSE-30 
Index
As % Of S&P BSE-30
  QLTEVF*
S&P BSE-30 Index  Index**
Number of equity 29   30
stocks
Median market 
capitalization (USD mn) 10,955 38.00% 28,990
Weighted dividend 
yield 1.52% 133.00% 1.10%
Weighted PER: March 
2021E 13.08x 72.00% 18.10x
Weighted EPS Growth: 
March 2021E 20.92% 82.00% 25.40%
PEG Ratio (excludes 
cash) 0.63x 88.00% 0.71x
       
T12M PE 20.50x   37.00x
Weightage of stocks 
with PER > 20 68.00%   89.00%
Weightage of stocks 
with PER  > 30 38.00%   74.00%
Source: Quantum Asset Management Company Pvt Ltd; As of February 26, 2021 | cash weight excluded | ** S&P BSE-30 Index weight is based on free-float. % S&P 
BSE 30 Index column depicts the Fund fundamentals as a percentage of S&P BSE 30 Index fundamentals. The figures mentioned in WTD PER, WTD EPS and PEG ratio 
are calculated on the basis of Bloomberg consensus estimates for companies owned by the Fund as well as the companies in the S&P BSE 30 as of the reporting date 
i.e. February 26, 2021 .
47
Summary: A significant allocation to public 
equities using a disciplined, long-term, bottom-
up, value-driven research and investment 
process for investing in the evolving Indian stock 
markets
 Overall, economic policy is geared towards growth
 India is a party to global trade and tariff agreements
 Political “risk” exists – but effect is more on specific sector reforms, rather than overall 
direction
 Indian companies and entrepreneurs have oriented themselves to live – and thrive – in free 
markets: world class management
 While the macro-economy looks good, fiscal deficits could rekindle inflationary pressures, a 
hardening interest rate environment will put growth on a +6% trajectory
 Infrastructure: Lot of talk, little action – inflection point?
 Yes, shake hands – but count how many fingers you get back!
India – A Wonderful Long-term Theme, But On A 
Bumpy Road Requires
Our Tried and Tested 
Research and Investment Process 
 to give Clients with a Long-term investment 
philosophy 
a Channel 
that aims to outperforms on the Upside 
and 
limits the Downside
Product Label
Product Label
For additional information, please contact: 
Sandeep Bhosle 
AVP- Customer Interaction
Email: [email protected]
Mobile: +91- 98209-43101
Office :+91-22-6144-7804
Fax :+91-22-2285-4318
Website: www.QuantumAMC.com
Quantum Asset Management Company Private 
Limited
Hoechst House, 6th Floor,
Nariman Point
Mumbai-400021, India
Disclaimer – Terms of Use
The data in this presentation are meant for general reading purpose only and are not meant to serve as a 
professional guide/investment advice for the readers. This presentation has been prepared on the basis of publicly 
available information, internally developed data and other sources believed to be reliable. Whilst no action has 
been suggested or offered based upon the information provided herein, due care has been taken to endeavor that 
the facts are accurate and reasonable as on date. Quantum AMC shall make modifications and alterations to the 
performance and related data from time to time as may be required as per SEBI Mutual Fund Regulations. Readers 
are advised to seek independent professional advice and arrive at an informed investment decision before making 
any investment. None of the Sponsors, the Investment Manager, the Trustee, their respective Directors, Employees, 
Affiliates or Representatives shall be liable for any direct, indirect, special, incidental, consequential, punitive or 
exemplary damages, including lost profits arising in any way from the data/information/opinions contained in this 
presentation. The Quantum AMC shall make modifications and alterations to the performance and related data from 
time to time as may be required. 
Please visit – www.QuantumMF.com to read scheme specific risk factors. Investors in the Scheme are not being 
offered a guaranteed or assured rate of return and there can be no assurance that the schemes objective will be 
achieved and the NAV of the scheme may go up and down depending upon the factors and forces affecting 
securities market. Investment in mutual fund units involves investment risk such as trading volumes, settlement 
risk, liquidity risk, default risk including possible loss of capital. Past performance of the sponsor / AMC / Mutual 
Fund does not indicate the future performance of the Scheme. Statutory Details: Quantum Mutual Fund (the Fund) 
has been constituted as a Trust under the Indian Trusts Act, 1882. Sponsor: Quantum Advisors Private Limited. 
(liability of Sponsor limited to Rs. 1,00,000/-). Trustee: Quantum Trustee Company Private Limited. Investment 
Manager: Quantum Asset Management Company Private Limited. The Sponsor, Trustee and Investment Manager 
are incorporated under the Companies Act, 1956. 
18th March 2021
Mutual fund investments are subject to market risks, read all scheme related documents carefully.
Thank You
53