Bhaiya’s journey into the upper echelons of Indian asset management began in earnest after a successful seven-year tenure as a fund manager at Nippon India Mutual Fund. Driven by a desire to pursue a more niche, research-heavy investment style, he stepped away from the corporate mutual fund space in 2012 to establish Aequitas. Under his leadership, the firm grew into a powerhouse, managing approximately ₹7,700 crore across Portfolio Management Services (PMS) and Alternative Investment Funds (AIF). His track record was nothing short of extraordinary; his flagship strategies reportedly delivered a staggering 2,800% in absolute returns, maintaining a Compound Annual Growth Rate (CAGR) of 34% over more than a decade—figures that placed him among the elite performance-generators in the country.
Known for his "growth at a reasonable price" philosophy, Bhaiya was never one to follow the herd. While many market participants remained exuberant during recent bull runs, he had increasingly adopted a bearish stance over the last two years. He frequently voiced concerns regarding unsustainable valuations in the Indian equity market, urging caution at a time when speculative fervor was at its peak. This penchant for going against the grain, combined with his deep fundamental research, earned him the respect of both institutional peers and retail investors who looked to him for sober, data-driven market insights.
The passing of Siddhartha Bhaiya leaves a significant void in the boutique investment landscape of India. Beyond the impressive metrics and the thousands of crores under management, he will be remembered as a mentor and a pioneer who proved that independent investment firms could compete with global giants through sheer intellectual rigor. As the industry reflects on his legacy, his career stands as a testament to the power of contrarian thinking and the enduring value of identifying greatness in the smallest corners of the stock market.
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