The Manager Behind the Mandate
23 years of group presence. ₹3,000 Cr+ under management. 95%+ client retention.
6 branches, pan-India. 95%+ client retention rate.
Boutique focus, institutional discipline.
600+ clients. 10+ strategies for wealth clients.
CIO + 5 fund managers, supported by a research bench.
The figures above reflect the Investment Manager's PMS track record — not that of this Fund, which has no prior performance history. No assurance can be given that the Fund will achieve returns comparable to other strategies managed by the Investment Manager.
Alternative Investment Funds at a Glance
Beyond stocks and bonds, access strategies previously reserved for institutions.
India's AIF industry has grown 3.6× in five years. Category III AIFs long-short equity strategies are the fastest-growing segment. (Source: SEBI)
What Is an AIF?
A SEBI-regulated pooled investment vehicle that deploys capital across strategies unavailable in mutual funds or PMS including long-short equity, derivatives, and structured debt.
- Minimum investment: ₹1 crore
- Eligible investors: HNIs, corporates, NRIs, institutions
- Regulated: SEBI under AIF Regulations, 2012
Categories of AIFs
- Category I — Startups, infrastructure, social impact
- Category II — Private equity, structured debt
- Category III — Long-short equity, derivatives, arbitrage
Taxation
- No pass-through status under Income-tax Act 2025
- Business income taxed at Maximum Marginal Rate (~39%) incl. surcharge & cess
- Tax paid under the Fund's PAN will not appear in investor's AIS/Form 26AS
- NRI investors: FEMA & treaty implications apply
- Consult your tax advisor for personal impact
Regulated by SEBI
- All AIFs registered under SEBI AIF Regulations, 2012
- Mandatory disclosures, audits, and valuations
- Leverage restricted per category norms
Why Invest in an AIF?
- Access strategies unavailable in mutual funds or PMS
- Professional management - disciplined, process-driven
- Portfolio diversification beyond listed equity benchmarks
- Regulated, transparent, SEBI-supervised
RH Rising India Opportunities AIF at a Glance
What we are offering and what it means for your portfolio.
The Three Pillars
Multicap Fund
SMID-biased, flexible across large, mid, and small caps. Moves to large caps to manage drawdown risk.
RH Multibagger Framework
Conviction-led. Targets earnings growth × multiple re-rating. Unconstrained by benchmarks.
Disciplined Risk Management
Three structural layers: phased deployment, large-cap buffering, selective hedging.
Key Fund Terms
| Structure | Closed-Ended Category III AIF |
| Manager | Right Horizons Portfolio Management Pvt Ltd |
| Trustee | Axis Trustee Services Limited |
| Custodian | Nuvama Custodial Services Limited |
| RTA | KFin Technologies Limited |
| Auditor | MSKC & Associates LLP / BDO International |
| Tax Advisor | Ernst & Young LLP |
| Asset Class | Listed equity & equity-related instruments |
| Fund Tenure | 6 years from First Closing (+2 year extension) Extension requires two-thirds majority consent of contributors by value. |
| Fund Size | ₹100 Cr + ₹100 Cr Greenshoe |
| Minimum Commitment | ₹1 Crore (Class A Units) |
| Commitment Period | 24 months from First Closing, subject to IM discretion |
| Liquidity |
|
| Lock-In | 6 months from last drawdown, subject to Commitment Period |
| Exit Load | No Exit Load |
| Risk Profile | High Risk including leverage up to 2× NAV and concentration in SMID equities. Loss of entire capital is possible. |
| Eligible Investors | Resident Indians, NRIs, HNIs, Corporates, Banks, Institutions |
| SEBI Registration No. | IN/AIF3/25-26/2114 |
India Is at an Inflection Point
The $10T economy is not a forecast, it is a trajectory already in motion.
India's Structural Growth Chart
GDP FY15 → FY35E (Inflection Point)
Source: World Bank, IMF, OECD, EY, RH PMS Internal Research.
Every 25%+ small cap correction since 2003 has been followed by a 2x–4x recovery. Phased deployment is designed to capture this opportunity systematically.
Historical market observation only. Past market patterns are not indicative of future fund returns. No returns from this Fund are assured or guaranteed.
India's Growth Case
- $10T GDP target by 2035 — Base: 8.8% CAGR, Robust: 10.1% CAGR
- Structural drivers: Manufacturing, Consumption, Healthcare, Capital Markets
- Small & Mid caps: 18.7% earnings CAGR vs 10.4% for Nifty 50
Why Now — The Entry Opportunity
SMID stocks have corrected ~26% since December 2024. ~60% of stocks are down more than 30% as of March 2026 creating a compelling phased entry zone.
Historical market observation only. Not indicative of fund returns.
Historical market observation only. Not indicative of fund returns.
Where Wealth Is Actually Created
Earnings growth × multiple re-rating = wealth creation.
ΔEPS (Earnings Growth) × ΔP/E (Multiple Re-Rating) = WEALTH CREATION
Step 1
Find the Earnings Engine
- Earnings doubling over 3–5 years
- Structural sector tailwind as confirmation
- Above-industry net sales and ROCE growth
Step 2
Enter at Reasonable Valuation
- Current P/E at a meaningful discount
- Margin of safety enforced not growth at any price
- Valuation discount narrows as earnings compound
Result
A Double Engine
- EPS growth + P/E expansion = outsized returns
- Asymmetric profile: limited downside, large upside
Four Proprietary Process Tools
Each tool operates in sequence to remove behavioural bias at every stage of the investment decision.
RH Screener
Quantitative filter: CAGR, ROCE, D/E, promoter holding.
RH Scorecard
Valuation check: EV/EBITDA, TTM P/E vs sector history.
RH Risk Radar
Governance, moat, cash flow quality.
RH Pendulum
Dynamic rebalancing + technical entry/exit triggers.
Risk Management Is Structural
Three layers of risk management built in, not bolted on. Risk management reduces but does not eliminate downside risk; loss of capital remains possible.
Layer 1
Entry Risk: Structured Stock Picks
- Capital deployed in tranches - never all at once
- RH Risk Radar screens for governance and moat quality
- Mitigates market-timing and peak-valuation risk
Layer 2
Volatility Risk: Multi-Cap Diversification
- Pivots to large caps during SMID corrections
- Closed-ended structure prevents forced selling at lows
- Seamless rotation within the multicap mandate
Layer 3
Drawdown Management: Selective Hedging
- Derivatives may be used for hedging purposes up to 50% of Investable Funds (as permitted under SEBI AIF Regulations)
- Deployed during extended drawdown periods only, not mechanically
- Reduces drawdown without exiting equity positions
ⓘ Leverage & Derivatives Disclosure
- ›The Fund may use leverage up to 2× NAV as permitted under SEBI AIF Regulations.
- ›Derivatives may be used for hedging up to 50% of Investable Funds (regulatory limit).
- ›Short positions up to 100% of Investable Funds are permitted under the long-short strategy mandate.
- ›Leverage amplifies both gains and losses. A 50% drawdown on a 2× leveraged portfolio could eliminate the investor's entire capital. Please read the PPM carefully.
Who Can Invest?
Open to HNIs, institutions, NRIs, and corporates - minimum ₹1 crore.
HNIs and Ultra-HNIs
Minimum commitment: ₹1 crore. Seeking superior risk-adjusted returns over a 6-year horizon.
Family Offices, Corporates & Institutions
Corporates, banks, partnerships, and institutions seeking structured long-term investment with an AIF framework.
NRIs and Foreign Investors
NRIs eligible subject to FEMA and SEBI regulations. Check with our team to know more about eligible geographies open for inflows.
Share Classes & Minimum Commitments
- Five classes (A–E) aligned to commitment size larger commitments qualify for lower fees
- Each class offers a Fixed-Fee and a Variable-Fee sub-class option
- Separate sub-classes for direct/advisory and distributor/placement agent investors
- Refer to the PPM for the complete sub-class schedule
How to Invest with Right Horizons
Guided at every step — from first enquiry to capital deployment.
Connect with Us
Reach out. Your dedicated RM will connect within 24 hours.
Product Walkthrough
Understand the strategy, structure, risk profile, and fee options.
Clarify Your Options
Choose your share class and commitment level with advisor guidance.
Documentation & KYC
We guide you through the full onboarding process — end to end.
Review PPM & Commit
Read the Private Placement Memorandum. Formalise your commitment.
Track Your Investment
Monthly valuation statements. Regular updates from your RM.
Frequently Asked Questions
Answers to what every investor and distributor should know.
₹1 crore (Class A Units). Higher commitment amounts qualify for different share classes and fee structures.
Resident Indians, NRIs, HNIs, Corporates, Partnerships, Banks, and Institutional Investors. Minimum ₹1 crore as per SEBI AIF Regulations.
6 months from last drawdown, subject to the commitment period. Fund tenure is 6 years from First Closing.
Closed-ended enforces discipline and avoids forced selling at market lows. Phased deployment reduces entry-timing risk — no waiting for the 'right moment.'
Phased deployment mitigates timing risk. Historically, every 25%+ small cap correction since 2003 has been followed by a 2–4× recovery. Waiting often means missing the early phase. Note: this is a historical market observation and is not indicative of future fund returns.
Benchmark-agnostic. 20–35 high-conviction positions (maximum of 10% of Investable Funds per single listed equity), vs 80+ index-tracking stocks. Proprietary 4-tool process removes behavioural bias at every stage.
Three structural risk management layers: phased deployment, large-cap buffer, and derivatives hedging. The PPM permits derivatives up to 50% of Investable Funds; the 10% figure previously referenced is an internal operational preference, not a contractual cap, and is subject to change. Note: these mechanisms reduce but do not eliminate the risk of capital loss.
KYC, signed Contribution Agreement, and financial documentation per SEBI AIF Regulations. Our team guides you through the full process.
PMS: ₹50 lakh minimum, open-ended, individual portfolio. AIF: ₹1 crore minimum, pooled, access to complex strategies including long-short and derivatives.
A full fee summary table is available in the Fund Details section above. Five investment classes (A–E) each offer a fixed-fee and a variable-fee sub-class. Variable-fee sub-classes carry a 15% (Class A–C) or 10–12% (Class D–E) performance fee subject to a 10% p.a. hurdle rate and High Water Mark. Setup Cost (up to 1% of commitment) and Operating Expenses (up to 1% p.a.) are additional costs. All fees are exclusive of GST. Refer to the PPM for the complete schedule.
Category III AIFs have no pass-through status under the Income-tax Act 2025. All income is taxed at the fund level at the Maximum Marginal Rate (~39% inclusive of surcharge and cess). Tax is paid under the Fund's PAN and will not appear in the contributor's AIS/Form 26AS. This differs significantly from direct equity investment (which is taxed at LTCG/STCG rates in the investor's hands). NRI investors should also consider FEMA/treaty implications. Consult your tax advisor for your specific situation.
Registered and regulated by SEBI under AIF Regulations, 2012. SEBI Reg. No: IN/AIF3/25-26/2114. Mandatory disclosures, audits, and periodic valuations. SEBI registration does not constitute endorsement of the investment's merit or guarantee of returns.
Your full commitment is due over the Commitment Period (up to 24 months) via Drawdown Notices, not immediately. Capital is called in tranches as investment opportunities arise. Contributors must fund each Drawdown Notice within 10 business days. Failure to fund within the notice period triggers default provisions, which may include compulsory redemption at a discount and forfeiture of rights. Importantly, Management Fees accrue from First Closing on your total committed capital — not from each individual drawdown date.
A Seamless Journey from Interest to Investment
Here's what you can expect once you reach out.
RM Connects Within 24 Hours
Your dedicated Relationship Manager reaches out to understand your goals and investment context.
Product Walkthrough & Suitability
We walk you through the strategy, structure, fee options, and share class selection aligned to your portfolio.
Documentation & Onboarding
KYC, Contribution Agreement, and regulatory documentation managed end to end by our team.
Capital Deployment
- ▸Called in tranches over up to 24 months via Drawdown Notices
- ▸Fund each notice within 10 business days to avoid default
- ▸Management Fees accrue from First Closing on committed capital
Why choose RH AIF?
- Transparent process - clear communication at every stage
- Timely updates - monthly valuation statements and fund reports
- Regulated & secure - SEBI-registered AIF (Reg. No. IN/AIF3/25-26/2114)
- Dedicated support - your RM is always accessible
- Aligned interests - Sponsors and IM have co-invested a minimum of ₹10 Cr or 5% of Corpus in the Fund
Disclaimer
This material is for informational purposes only and does not constitute an offer to sell or solicitation to buy Fund units. Any offer is made solely through the PPM and legally binding documents. Information herein has not been approved by SEBI. SEBI registration does not constitute endorsement or guarantee of returns.
No returns from the Fund are assured or guaranteed. Investment involves significant risk including loss of entire invested capital. The Fund has no prior performance history. Past performance of the Investment Manager in other strategies is not indicative of future Fund returns.
Key Risk Factors:
- •Leverage up to 2× NAV — amplifies both gains and losses
- •Concentration risk — 20–35 stocks in SMID-biased portfolio
- •Liquidity risk — SMID stocks may lack depth; monthly exits subject to gating
- •Redemption suspension — possible under force majeure or extreme market conditions
- •Tax risk — Category III AIF taxed at Maximum Marginal Rate (~39%); no pass-through status
Fund units are unlisted and subject to limited liquidity and transfer restrictions. Investors are advised to read all scheme-related documents and consult their financial, legal, and tax advisors before investing. Disciplinary History: No material disciplinary proceedings pending against the Investment Manager, Sponsors, or Key Personnel. SEBI Registration AIF No: IN/AIF3/25-26/2114.