Asset Management Firm True Beacon's Flagship Fund Records 26.6% Outperformance of Indian NIFTY50, Despite Covid-induced Turbulence
- True Beacon's flagship fund, True Beacon One, outperformed the Indian NIFTY 50 index by 26.6% from 1st Sept 2019 to 31st August 2020, posting an annualised return of 29.7%
- True Beacon International, based in Mauritius, is now open for foreign investment into the Indian capital markets, aiming to mirror the performance of True Beacon One
- Strengthening the leadership of True Beacon, Former Vice Chairman of Standard Chartered Private Bank, Richard Pattle LVO, to transition to CEO True Beacon
BENGALURU, India, Sept. 10, 2020 /PRNewswire/ -- Nikhil Kamath, Co-Founder and CIO of True Beacon and Zerodha, today announced full-year results for True Beacon's flagship fund. True Beacon One, which invests in Indian capital markets, recorded an outperformance of the NIFTY50 benchmark by 26.6%. The annualised returns for the fund were 29.7% from September 2019 to August 2020.
True Beacon services ultra-high net worth and high net worth individuals and employs a revenue model with zero management and standing fees. Instead, the company charges a 10% performance reward on any gains achieved.
To attract foreign investment into the Indian capital markets, a Category-I Foreign Portfolio Investment company, True Beacon International, has been established. The Mauritius-based entity will serve international ultra-high net worth and high net worth individuals who wish to participate in, and contribute to, India's growth story.
Further strengthening the leadership of True Beacon as it expands across India and overseas, the company announced Richard Pattle, who is currently Senior Advisor to True Beacon and Zerodha, will assume the role of CEO True Beacon.
Commenting on Richard's appointment, Nikhil commented, "Richard has been involved with True Beacon since its inception. This appointment is a natural progression for us as we continue to build our team, capabilities and global reach. Richard brings with him a wealth of experience in the public and private sector and has a deep passion for India forged over the last thirty years. He, like us, is a firm believer in the country's incredible growth potential."
Commenting on his appointment as CEO, Richard said, "I have enormous respect for what Nikhil and Nithin have achieved through Zerodha, and I am exceptionally proud of Nikhil's unparalleled performance in delivering stunning first year results for True Beacon. I look forward to helping grow True Beacon's distinctive and compelling product and service offerings."
Chief Marketing Officer , True Beacon