- Category
- III
- Strategy
- Long-only
- Fund house
- Carnelian Asset Management and Advisors
Structural Shift Fund
+23.01%
1-year return, after expenses, before performance fee and tax
Benchmark NIFTY 500 & Debt Composite Index · data as of 31 Aug 2026
Structural Shift Fund, a Category III long-only AIF from Carnelian Asset Management and Advisors, returned 23.01% (after expenses, before performance fee and tax) in the year to 31 Aug 2026. It began on 14 Apr 2022.
Key numbers
- AUM
- —
- Benchmark
- NIFTY 500 & Debt Composite Index
- Launched
- 14 Apr 2022
- Min. investment
- ₹1 crore
- Returns basis
- After expenses, before performance fee and tax
Returns
| Period | This fund | NIFTY 500 & Debt Composite Index |
|---|---|---|
| 1 month | +6.35% | −0.19% |
| 3 months | +14.35% | +3.38% |
| 6 months | +30.24% | +0.81% |
| 1 year | +23.01% | +3.76% |
| 2 years | +8.73% | −1.13% |
| 3 years | +21.96% | +10.89% |
| Since inception | +24.89% | +10.02% |
After expenses, before performance fee and tax, as Carnelian Asset Management and Advisors reports them, to 31 Aug 2026. AIFs report returns on different bases, so compare like with like.
Fund details
- Category
- Category III
- Strategy
- Long-only
- Market-cap style
- Small and mid cap
- Asset type
- Equity
- Benchmark
- NIFTY 500 & Debt Composite Index
- Fund manager
- Manoj Bahety
Market-cap mix
- Large cap7.61%
- Mid cap26.15%
- Small cap61.06%
- Cash5.18%
Investment approach
Fund designed to capture structural decadal shifts presenting large opportunity in 1. Mfg led by conducive regulatory and global environment 2. Tech evolution empowered by digital & SAAS platform with Indian co.s at the forefront •A unique blend of mid/small cap co.s across listed/unlisted space
Fund designed to capture structural decadal shifts presenting large opportunity in 1. Mfg led by conducive regulatory and global environment 2. Tech evolution empowered by digital & SAAS platform with Indian co.s at the forefront •A unique blend of mid/small cap co.s across listed/unlisted space
About the fund manager
Mr Manoj Bahety — Co-Founder
Chartered Accountant & CFA Charter holder (USA), having ~ 26 years of rich & diverse financial services experience with the marquee institutions – Edelweiss Securities, Morgan Stanley, RIL, HPCL. Manoj has spent 11 years at Edelweiss Securities as Dy. Head - Institutional equity research, Head - forensic, thematic & mid cap research. He is known in the industry for his non-consensus research. Pioneered differentiated forensic research , popularly known as “Analysis Beyond Consensus” (ABC research) . ABC research has helped investors across the globe to take informed investment decisions based on true numbers instead of reported numbers, thus “avoiding pitfalls”- One of Carnelian’s virtues . His conservative style along with deep understanding of businesses has enabled him to identify several multi-bagger ideas with suitable risk reward like PI Industries, VIP Industries, Supreme Industries, Balkrishna Industries, AIA Engineering, ICRA, SKF and Gulf oil Represented various committees of The CFA Institute, in luding Chairperson of India Advocacy Committee, member of US based global CDPC committee.
As the fund house describes it.
FAQs
What has Structural Shift Fund returned?
23.01% (1-year return) to 31 Aug 2026, after expenses, before performance fee and tax, as Carnelian Asset Management and Advisors reports it. 1 month: 6.35%; 3 months: 14.35%; 6 months: 30.24%; 1 year: 23.01%; 2 years: 8.73%; 3 years: 21.96%; Since inception: 24.89%.
What kind of AIF is Structural Shift Fund?
A Category III AIF following a long-only strategy, with a small and mid cap style. Category III AIFs trade listed and unlisted securities and may use leverage and derivatives, including short positions.
What is the minimum investment in an AIF?
SEBI sets the minimum at ₹1 crore per investor (₹25 lakh for the fund’s own employees and directors). Structural Shift Fund’s stated minimum is ₹1 crore.
Who manages Structural Shift Fund?
Carnelian Asset Management and Advisors runs it; the fund manager is Manoj Bahety.
How are AIF returns reported?
Each fund house reports its own returns on its own basis: Structural Shift Fund’s are after expenses, before performance fee and tax. Bases differ from fund to fund, so compare like with like.
For information only. Not investment advice or a research report. Past performance does not guarantee future returns. AIF investments carry higher minimums and risks; read the private placement memorandum.
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