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Set-up Cost includes one-time expenses incurred for establishing and launching the Fund, such as legal, regulatory, structuring, and professional fees.

The Set-up Cost is charged on actuals, subject to a cap of 1% of an investor's capital commitment.

The Set-up Cost is amortized equally over 5 years from the Fund's First Closing.

The Fund has a lock-in mechanism designed to align investor capital with the investment strategy and portfolio holding period.

For each investor, the lock-in period is:

• Six months from the date of the investor's final drawdown, subject to the condition that
• The lock-in period cannot end before the expiry of the Fund's Commitment Period.

Fund tenure is 6 years from First Closing.

The closed-ended structure enforces investment discipline and avoids forced selling during market lows. Phased deployment also reduces entry-timing risk, eliminating the need to wait for the "right moment."

Phased deployment helps mitigate market-timing risk. Historically, every 25%+ small-cap correction since 2003 has been followed by a 2 to 4x recovery. Waiting often means missing the early phase of recovery.

The strategy is benchmark-agnostic and typically holds 20 to 35 high-conviction positions (with a maximum of 10% of investable funds per listed equity), compared to 80+ stocks commonly held by index-tracking funds. A proprietary four-tool investment process is designed to reduce behavioural biases throughout decision-making.

KYC documents, a signed Contribution Agreement, and financial documentation as required under SEBI AIF Regulations. The team guides investors through the complete process.

• PMS: Rs. 50 lakh minimum investment, open-ended structure, individual portfolio ownership.
• AIF: Rs. 1 crore minimum investment, pooled structure, and access to strategies such as long-short investing and derivatives.

Category III AIFs do not have pass-through status under the Income-tax Act 2025. Income is generally taxed at the fund level at the Maximum Marginal Rate. Tax is paid under the fund's PAN and does not appear in the investor's AIS/Form 26AS. Tax treatment differs significantly from direct equity investments.

The fund is registered and regulated by SEBI under the AIF Regulations, 2012, with mandatory disclosures, audits, and periodic valuations.

Investors are required to fund capital commitments when a Drawdown Notice is issued. Failure to make the required contribution within the specified timeline may result in the investor being classified as a "Defaulting Contributor".

Yes. The Investment Manager may allow a grace period of up to 30 days from the due date specified in the Drawdown Notice. Investors who fund within this grace period will not be treated as Defaulting Contributors.

If the payment remains outstanding beyond the grace period, the Investment Manager may, at its discretion:

• Levy an additional contribution calculated at 18% per annum on the unpaid amount.
• Reduce the investor's capital commitment to the amount already contributed.
• Suspend or terminate the investor's right to receive distributions.
• Suspend or terminate future drawdown rights and obligations.
• Restrict access to Fund information and reports.

Gating is a mechanism used by investment funds to manage liquidity when a large number of investors request redemptions at the same time. It allows the Fund to temporarily limit the amount that can be redeemed on a particular valuation date.

Gating helps ensure orderly portfolio management and fair treatment of investors. It prevents the Fund from having to liquidate investments at unfavorable prices to meet large redemption requests.

Yes. To ensure fair treatment of all investors and maintain portfolio liquidity, the Fund includes gating provisions that may be activated if redemption requests exceed certain thresholds.

If redemption requests received for a particular valuation day exceed 20% of the total units outstanding in a class, the Fund may process redemptions on a pro-rata basis.

Any portion not processed due to gating will automatically be carried forward to the next valuation day and will receive priority over new redemption requests received thereafter.

Yes. Redemption requests may be restricted if they:

• Cause the investor's holding to fall below the prescribed minimum investment requirement; or
• Result in regulatory non-compliance for the Fund.

No. Redemptions are generally not permitted during the lock-in period.

After the lock-in period, investors may submit redemption requests on the applicable valuation day by providing the prescribed notice and documentation.

Yes. The Investment Manager may modify the lock-in period for any class, subclass, series, or investor in accordance with applicable regulations.