Investor Update

Investor Update

September Investor Update

In a month when broader markets corrected— with the NSE 500 down -2.0% and the NiŌy Midcap lower by -2.9% — Ironclad PMS declined just -0.2%. For YTD 2025, the porƞolio has compounded +16.5%, delivering a 9.1% alpha over the NSE 500 and reinforcing the strength of our investment framework.

August Investor Update

Markets corrected in July (NSE 500: -3.0%), but our portfolio declined -1.1%, continuing to deliver alpha even in a risk-off environment.
In this month’s note:
• Why we’ve fully exited the limited exposure we had to IT Services
• Why product-based tech firms stand to gain from AI
• Our view on Trump’s 25% tariffs on Indian exports
• Continued strength in financials and branded consumer names
Our portfolio remains focused across three themes: financials, brands, and tech products — with the aim of compounding through cycles.

June Investor Update

March 2025 marked a strong rebound from earlier drawdowns, with the Nifty 500 gaining 7.3%. Ironclad Asset Management delivered a return of 6.2% during the month. Over the past three months combined, Ironclad has generated a 7.4% return, significantly outperforming the 1.9% gain in the Nifty 500 and 0.5% in the Nifty Midcap.
This outperformance underscores our ability to mitigate downside risk and reflects the strength of our robust investment strategy and active portfolio management. Generating positive returns in a challenging market environment highlights the effectiveness of our stock selection process and our disciplined risk management framework.

April Investor Update

Over the past three months combined, Ironclad has generated a 7.4% return, significantly outperforming the 1.9% gain in the Nifty 500 and 0.5% in the Nifty Midcap.March 2025 marked a strong rebound from earlier drawdowns, with the Nifty 500 gaining 7.3%. Ironclad Asset Management delivered a return of 6.2% during the month.

This outperformance underscores our ability to mitigate downside risk and reflects the strength of our robust investment strategy and active portfolio management. Generating positive returns in a challenging market environment highlights the effectiveness of our stock selection process and our disciplined risk management framework.

In this update, we also discuss 2 of our portfolio allocations – Abbott India and Prudent Corporate.

March Investor Update

February 2025 saw significant market drawdowns, with the Nifty 500 declining 7.9%. Despite this downturn, Ironclad Asset Management delivered -3.9%, significantly outperforming the broader market. Our ability to mitigate downside risk is a testament to our robust investment strategy and active portfolio management.

This follows our strong performance in January 2025, where we posted a 5.14% gain. We remained in cash for most of January and started deploying only towards the end of the month. The ability to generate positive returns in difficult market conditions highlights the strength of our stock selection and risk management framework.