Golden Equity Fund Series I

Returns

After expenses, before tax, as Shatrunjaya Investment Managers reports them, to 31 Aug 2026. AIFs report returns on different bases, so compare like with like. Benchmark returns weren’t reported.

Fund details

Category

Category III

Strategy

Long-only

Market-cap style

Flexi cap

Asset type

—

Benchmark

—

Fund manager

Chetan Shah & Niket Chheda

Investment approach

We maintain a strong emphasis on protecting our investors’ capital from downside risk. Our primary focus is on identifying and executing special situation opportunities. As a secondary focus, we invest in thoroughly researched businesses with a long-term compounding approach.

We maintain a strong emphasis on protecting our investors’ capital from downside risk. Our primary focus is on identifying and executing special situation opportunities. As a secondary focus, we invest in thoroughly researched businesses with a long-term compounding approach.

About the fund manager

Mr. Chetan Shah — Founder

Our founder entered the financial markets in April 1991 and began his journey as a broker alongside his cousin by December of the same year. He went on to acquire an MCX card and successfully built a commodity brokerage business, which he ran until 2012. In a remarkable display of foresight, he liquidated all equity investments at the end of 2007, correctly anticipating the 2008 market crash. From 2012 onward, he began investing full-time using proprietary capital. He has a hybrid approach that combines both fundamental and quantitative analysis, with a sharp focus on identifying and exploiting market inefficiencies. He is a strong proponent of a data-driven investment strategy, driven by deep conviction, rigorous analysis, and an unwavering commitment to ethics. His philosophy centers on investing in high-growth companies with ethical and trustworthy management, at compelling valuations.

Mr. Niket Chheda — Co-founder & CIO

Niket Chedda began his entrepreneurial journey soon after graduating in 2000, establishing his own oil and chemical trading business. In 2005, he expanded into manufacturing by setting up a chemical factory in Solapur, which was successfully acquired by a larger player in 2007. Leveraging the proceeds from this acquisition, he entered the financial markets that same year. From 2007 to 2011, he operated as a sub-broker with IIFL, using this period to deeply immerse himself in the study of market fundamentals. Since 2012, he has been deploying proprietary capital, combining deep fundamental research with hands-on business understanding to build a concentrated, conviction-led portfolio.Niket approaches investing with an owner's mindset. His philosophy centers on identifying companies with high growth visibility, clean and competent management, robust financials, and significant value disconnects. His sharp sectoral knowledge and deep product-level understanding allow him to envision notjust how fast a company can grow, but how far.

As the fund house describes it.