SHAPE A TOMORROW

THAT GOES BEYOND

YOUR VISION.

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Executive Summary
Unifi Capital is a discretionary, long-only India centric fund manager, specialising in event-oriented top-down themes and a bottom-up
focus on “growth with value”.

Objective
Focus on identifying unique investment opportunities that consistently generate superior Advisory Team
(risk adjusted) returns with due emphasis on capital preservation. The core group of 14 professionals, headed by K Sarath Reddy,
having considerable experience in Indian capital markets.
Performance

Year of TWRR TWRR Ann. Standard

Investment Approach Correlation
Inception 3 Years Since Inception Deviation Portfolio Risk Controls
38.03% 20.02% 0.88 23.02% Comprehensive risk management framework including in-depth
Blended- Rangoli 2017
BCAD 2018 26.75% 13.31% 0.86 20.17% stock reviews, exposure limits and marketable liquidity
Insider Shadow Strategy* 2010 36.46% 14.43% 0.84 21.60% assessment.
Holdco Strategy* 2014 27.65% 20.43% 0.78 27.50%

APJ 20* 2015 44.41% 20.69% 0.86 24.16%

Robust risk monitoring mechanisms comprising of daily MTM
Green Strategy* 2017 45.02% 15.19% 0.87 24.98%
and liquidity assessment combined with real-time tracking of

The following Investment Approaches have been redeemed/being redeemed corporate events and performance.

Spin Off* 2014 11.34% 17.43% 0.85 28.97%

DVD* 2013 14.15% 24.96% 0.89 22.97% Operational Risk Control

Delisting* 2009 - 43.00% 0.62 14.54%
Best-in-class prime broker, custodian and counterparties.
Sector Trends Large Cap* 2011 2.42% 10.80% 0.88 17.90%
*Closed for subscription TWRR – Time Weighted Rate of Return
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 About Unifi

Unifi focuses on long-only investment approaches as

well as event arbitrage, focused on Indian equities,
with a strong in-house research team, offering high
levels of service.

The core team of four experienced capital market

professionals co-founded the company in 2001.

Unifi has a successful 20-year performance record,

evidenced by every strategy having performed better
than its benchmark. The current AUM is Rs 15,700 Crs
(USD 1,920 million)

Unifi is headquartered in Chennai with offices in

Bangalore, Hyderabad, Mumbai, Kolkata and Delhi
with a total team size of 103 professionals.

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Unifi: Historical Timeline

Unifi was established in 2001

as a competitive and
performance-oriented asset
manager, using innovative
investment strategies to
achieve superior risk-adjusted
returns

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Investment Strategy

DVD

SPIN OFF APJ 20

Blend Theme cherry picks

HOLDCO GREEN Investments from all 7 distinct
strategies managed by Unifi.
BC-AD ISF

Blend

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Distinctive Themes managed by Unifi
Spin Off: In a single corporate structure with multiple businesses, the sum of the value of the separate parts is often less than that of the whole. A de-merger of
disparate businesses, unlocks the financial and management bandwidth required for the respective businesses to grow. Spin off strategy invests in situations that
offer great scope for the businesses to realise their full growth potential and attract commensurate market valuation.

DVD: Few segments of the market tend to be mispriced in spite of visible growth prospects, resulting in such stocks trading at a deep discount to their intrinsic
value. Reasons could vary from inadequate understanding of a business by most analysts, low relative market cap and liquidity or the lack of correlation to
benchmark indices. DVD invests in such businesses and exploits market inefficiencies.

HoldCo: Many holding companies are run as group holding companies rather than strategic investment companies. This results in a perennial discount in their
valuations but such discounts are not a constant. The Holdco strategy identifies strong underlying businesses and looks for massive valuation discounts that are
likely to recover as promoters feel the heat of change in the regulatory landscape; meantime benefiting from value convergence in a rising market.

APJ 20: As always, markets fancy few sectors that have done well in the past ignoring the rest. Of the sectors which are less understood, few like specialist
chemicals, agri, precision manufacturing have become globally competitive and are privy to an expanding market opportunity. APJ20 invests in firms that have
evolved and are in a ripe position to benefit from such growth prospects.

Green Strategy: The investment focus of the green strategy is on companies which provide products and services that help in reducing the carbon footprint in the
environment and/or result in more efficient use of natural resources. Within the context of this strategy, the sectors that have been identified for creating the
portfolio are - emission control, energy efficiency, water management and waste management.

Insider Shadow Strategy: The theme invests in companies which have repurchased their own shares or where its promoters’ have acquired additional shares at
market prices. Such an action demonstrates their conviction on company’s growth prospects or inherent value not captured in stock price at that point. The
proposition is to gain from the eventual balancing of the value-price mismatch in the market.

BCAD: India is a USD 2.6 Trillion economy and will double to USD 5 Trillion in a decade from now. Supporting this massive scale are certain social, legal and tax
changes that have powerful repercussions for various sectors. The unintended consequences of these changes are impacting the competitive ability and in some
cases the very survival of unorganised businesses, thus leading to a disruptive shift favouring organised businesses.

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Blended-Rangoli Strategy (PMS) - Performance
350
293 Portfolio Parameters
300

Blend Rangoli FY 23 FY 24 E*
Value of Rs.100 invested

250
195
200 Earnings Growth 24.6% 21.9%

150 182 P/E 19.9 16.5

100 ROE 21.6% 21.9%
50
D/E 0.08 0.08
0
PEG 0.8 0.8
Oct-17

Oct-18
Dec-17

Oct-19
Dec-18

Oct-20
Dec-19

Oct-21
Dec-20

Oct-22
Dec-21

Dec-22
Apr-18

Apr-19

Apr-20

Apr-21

Apr-22

Apr-23
Jun-17
Aug-17

Feb-18

Jun-18
Aug-18

Feb-19

Jun-19
Aug-19

Feb-20

Jun-20
Aug-20

Feb-21

Jun-21
Aug-21

Feb-22

Jun-22
Aug-22

Feb-23
* FY 24 data is estimated based on assumptions and expectations considering
BLEND BSE 500 Sensex currently available information and they involve risks, variables and uncertainties.

TWRR Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FYTD

FY 18 0.43% 8.17% 0.29% 3.17% 8.41% 0.62% 5.83% -2.35% -2.02% -2.16% 21.47%

FY 19 6.69% -7.85% -3.13% 4.91% 1.75% -8.45% 0.31% 2.07% 3.19% -6.51% -1.22% 8.29% -1.66%

FY 20 -0.74% 3.37% -2.33% -10.06% 0.55% 4.63% 2.24% -0.41% 2.18% 8.34% 0.23% -29.09% -23.98%

FY 21 23.16% 3.26% 14.06% 11.87% 8.96% 4.88% -2.72% 10.84% 6.5% -0.15% 7.02% -0.35% 126.76%

FY 22 5.43% 10.30% 6.82% 7.68% 1.28% 4.43% 0.82% -2.63% 4.06% -0.28% -5.79% 2.61% 39.38%

FY 23 1.07% -6.72% -3.46% 8.61% 3.12% -0.58% 2.79% 0.96% -1.59% -2.99% -0.31% -0.74 -0.64%

FY 24 3.04% 3.04%
As of 30th Apr’23
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BLENDED RANGOLI - CHARACTERISTICS

Sector Exposure Mcap Exposure

Others, 14.5%

Fertilizers, 2.5%
Financials, 27.0%
Defence, 3.0%

Hospitality, 3.0%
Large Cap, 33.5%

Small Cap, 44.5%

Fee-based
Financials,
5.0%

Mid Cap, 22.0%

Healthcare ,
6.0%
Consumption, 16.0%

Chemicals, 9.0%

IT/ITes, 14.0%

As of 30th Apr’23
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Performance as of April 2023
Performance as of 30 Apr 2023
Since Inception Since Inception
Since Inception
Investment Approaches 1 Month 3 Months 6 Months 1 Year 2 Years 3 Years 5 Years Date of Inception Investment Nifty Index - for Benchmark Index
Benchmark
Approaches reference
Type TWRR TWRR TWRR TWRR TWRR TWRR TWRR TWRR TWRR TWRR

PMS#

Unifi Blended - Rangoli 3.04% 1.96% -1.73% 1.30% 16.36% 38.03% 17.93% Jun/17 20.02% 10.65% 11.19% S&P BSE 500

Unifi BCAD* 3.60% 0.20% -2.85% 2.44% 16.34% 26.75% 13.35% Apr/18 13.31% 10.08% 11.03% S&P BSE 500

Unifi BCAD2: Breakout 20 3.27% 0.86% -3.84% 7.94% NA NA NA Jan/22 6.7% -2.4% -0.81% S&P BSE 500

Unifi Insider Shadow* 2.86% -3.15% -6.00% -8.51% 11.79% 36.46% 14.75% May/10 14.43% 10.35% 10.30% S&P BSE 500

Unifi Holding Co* 8.87% 3.90% 1.78% 7.01% 10.49% 27.65% 5.02% May/14 20.43% 11.44% 10.70% S&P BSE 500

Unifi APJ 20* 5.05% 6.45% 4.74% 8.63% 17.32% 44.41% 16.47% Sep/15 20.69% 11.80% 11.70% S&P BSE 500

Unifi Green Fund* 5.13% 7.86% 4.70% 8.67% 20.38% 45.02% 12.33% Jan/17 15.19% 12.69% 13.01% S&P BSE 500

Nifty (for reference) 4.06% 2.28% 0.29% 5.63% 11.13% 22.38% 10.96%

S&P BSE 500 4.53% 1.81% -1.55% 2.79% 10.89% 23.94% 9.98%

S&P BSE Midcap 5.93% 3.45% 0.53% 4.40% 12.04% 28.53% 8.43%

S&P BSE Smallcap 7.27% 2.52% 0.35% 1.07% 15.53% 37.62% 9.46%

S&P BSE Sensex 3.60% 2.62% 0.60% 7.10% 11.94% 21.94% 11.69%

#Performance data disclosed hereabove is net of Management and Performance fees.

* Investment approaches closed for subscription
Returns over 1 year period are annualized. TWRR - Time Weighted Rate of Return.
Returns are adjusted for inflows/outflows
Pursuant to SEBI Circular ref. SEBI/HO/IMD/IMD-PoD-2/P/CIR/2022/172 dated Dec 16, 2022, with effect from April 2023, the benchmark for Equity Strategy and Debt have been changed to “BSE 500” and “CRISIL Credit Index” respectively.

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Salient Features / Strategy Structure

Strategy Structure • Discretionary PMS – Open • The tenure of the strategy is 5 years or 200%
Ended Redemptions absolute return, whichever is earlier. Since the
structure is PMS , there is no lock-in of funds. The
redemption is processed within 7 working days.
Benchmark • S&P BSE 500
• Management Fee applicable will be charged on a
Fee Calculation monthly basis computed on each day end value.
Applicable performance fee will be charged at the
closure of the strategy
Custodian & D-Mat • HDFC Bank Ltd.
• The tax is paid by the client combining his other
Tax implications investments thus the returns to the client in PMS are
on pre tax basis. Profits in the PMS are taxed at
Minimum Investment • Rs 50 L applicable capital gains tax rates.

• MIS - monthly
• Strategy Newsletter - Quarterly
• This is open ended fund with Reporting structure
Subscriptions and New • Performance review webinars- Half yearly
Investments no entry and exit loads • Tax reporting- Quarterly for advance tax and Yearly
for year end tax

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Disclaimer
This presentation is being furnished to you strictly on a confidential basis for information and discussion purposes only. This presentation is not and does not constitute an offer to sell or a solicitation of an offer to
buy units of Blend Fund 2 (“Fund”), a proposed scheme of a proposed alternative investment fund named Unifi Umbrella AIF (“Trust”) that is launched by Unifi Capital Private Limited (“Manager”) and is registered
with the Securities and Exchange Board of India (“SEBI”) as a Category III Alternative Investment Fund as per the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 (“AIF
Regulations”). Application/necessary filings are made to the SEBI for registering the Fund and the private placement of Units in the Fund would be strictly subject to receipt of requisite SEBI approvals.

This presentation is confidential and is intended only for the personal use of the prospective investors to whom it is addressed or delivered and must not be reproduced or redistributed or disclosed in any form to
any other person or duplicated or used for any purpose other than the purpose for which it is meant without the prior written consent of the Manager.

This presentation does not purport to be all-inclusive, nor does it contain all of the information which a prospective investor may desire. An offering on a private placement basis will be made pursuant to a private
placement memorandum and other definitive fund documents, which will be furnished to eligible prospective investors on a confidential basis at their request for their consideration of such offering. The information
contained herein is qualified in its entirety by Fund’s private placement memorandum and the other fund documents. The Manager (including its affiliates) and any of its directors, officers, employees and other
personnel will not accept any liability, loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of
this presentation in any manner whatsoever.

The contents of this presentation are provisional and may be subject to change without notice. In the preparation of the material contained in this presentation, the Manager has used information that is publicly
available and certain research reports including information developed in-house. The Manager shall not be liable for relevance, accuracy or completeness of the information contained herein or for complying with
laws/licensing requirement as otherwise applicable with respect to the recipient of this presentation and disclaim any and all liability as to the information set forth herein or omissions here from, including, without
limitation, any express or implied representation or warranty with respect to such information.

This presentation may include certain statements which contain words or phrases such as “believe”, “expect”, “anticipate”, “intend”, and similar expressions that are forward-looking. Actual results may differ
materially from those suggested by the forward-looking statements due to risks, uncertainties or assumptions.

This presentation cannot be copied, reproduced, in whole or in part or otherwise distributed without prior written approval of the Manager.

Prospective investors should make an independent assessment, and consult their own counsel, business advisor and tax advisor as to legal, business and tax related matters concerning this presentation and the
other related documents before investing in the strategy. The information contained in this presentation has been prepared by Manager for general guidance and does not constitute a professional advice and no
person should act upon any information contained herein without obtaining specific professional advice.

The information in this presentation has not been evaluated from the specific legal-regulatory requirement of any particular jurisdiction. The Trust and the Manager is not registered/licensed with or approved by any
regulatory or governmental authority of any other jurisdiction except as applicable in India. Neither the Manager nor its partners, employees and agents would be held responsible for any reliance placed on the
content of this presentation or for any decision based on it.

Each prospective investor, by accepting delivery of this presentation agrees to the foregoing.

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 For further information visit:
www.unificap.com
CONTACT US
Mumbai Nisha Kakran 77188 11182 nisha@unificap.com
Minal Malpani 91671 40533 minal@unificap.com
Sheetal Joshi 97027 11444 sheetal@unificap.com

Pune/ Dhaval Dave 96999 34703 dhaval@unificap.com

Rest of Maha Sheetal Joshi 97027 11444 sheetal@unificap.com

Gujarat Dhaval Dave 96999 34703 dhaval@unificap.com

Sheetal Joshi 97027 11444 sheetal@unificap.com

Delhi Harshwardhan Agarwal 99301 12828 harsh@unificap.com

Rovind Kumar 92050 71210 rovind@unificap.com

Chennai Krishna Prasad 89392 40044 krishna@unificap.com

Aswath T 99406 54961 aswath@unificap.com

Bengaluru Santheep A 99861 04247 santheep@unificap.com

Christopher Vinod 96322 44747 chris@unificap.com

Hyderabad PrabhakarP 98496 69488 prabhakar@unificap.com

Satyanarayan Maurya 82975 81503 satyanarayan.maurya@unificap.com

Kolkata Ankit Upadhyay 80130 01122 ankit@unificap.com

Krishna Prasad 89392 40044 krishna@unificap.com

Unifi Capital Pvt ltd., 11, Kakani Towers, 15 Khader Nawaz Khan Road, Nungambakkam High Road, Chennai - 600 006. INDIA
Tel: +91-44-3022 4466, +91-44-2833 1556, Email: info@unificap.com
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Mumbai – Chennai – Bengaluru – Hyderabad – Delhi - Kolkata
 THANK YOU!
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DISCLAIMER
Securities, investments are subject to market risks and there can be no assurance or guarantee that the objectives will be achieved. As with any investment in securities, the value of the portfolio under management 13 may go up or down, depending on the various factors
and forces affecting the capital market. Past performance of the Portfolio Managers is not an indication of the future performance of the Portfolio Managers. Investors in the fund are not being offered any guaranteed/assured returns. This information has been compiled
from sources we believe to be reliable, but we do not hold ourselves responsible for its completeness or accuracy. References to actions of specific companies have been made as a matter of fact but the comments on such actions represent only our judgment and
analysis and not that of the specific companies. This material is not an offer to sell or a solicitation to buy any securities or any financial instruments mentioned in the report. Unifi Capital Pvt. Ltd. and their officers and employees may or may not have a position with
respect to the securities / other financial instruments mentioned herein. Unifi Capital Pvt. Ltd. may from time to time, have a consulting relationship with a company being reported upon. All opinions and estimations included in this report constitute our judgment as of
this date and are subject to change without notice.
Performance-related information provided herein is not verified by SEBI.