Invesco Mutual Fund

Senior Management Team

Investment Team

Neelesh Dhamnaskar

Principal Officer

Neelesh has over 19 years’ experience in equity research and fund management domain of which 14 years have been with Invesco asset management India. Since July 9th, 2022, he has taken over as the head of PMS (Portfolio Management services) department where he manages all the domestic PMS equity strategies and is the advisor for the India dedicated offshore equity advisory mandates. Before joining the PMS division of Invesco, Neelesh was managing two actively managed equity funds (Mid Cap, Infrastructure), overseas fund of fund schemes of Invesco Mutual Fund as well as tracking few sectors as an analyst. He previously worked with Enam (now a part of Axis Bank) where he was tracking companies across sectors and assisting the PMS Fund Manager in his investment decisions. Prior to this, he has worked with KR Choksey (a domestic broking house) and Anand Rathi Securities Limited in the research departments. Neelesh holds a Commerce degree and an MMS degree with specialization in Finance from Mumbai University.

Neelesh Dhamnaskar

Principal Officer

Neelesh has over 19 years’ experience in equity research and fund management domain of which 14 years have been with Invesco asset management India. Since July 9th, 2022, he has taken over as the head of PMS (Portfolio Management services) department where he manages all the domestic PMS equity strategies and is the advisor for the India dedicated offshore equity advisory mandates. Before joining the PMS division of Invesco, Neelesh was managing two actively managed equity funds (Mid Cap, Infrastructure), overseas fund of fund schemes of Invesco Mutual Fund as well as tracking few sectors as an analyst. He previously worked with Enam (now a part of Axis Bank) where he was tracking companies across sectors and assisting the PMS Fund Manager in his investment decisions. Prior to this, he has worked with KR Choksey (a domestic broking house) and Anand Rathi Securities Limited in the research departments. Neelesh holds a Commerce degree and an MMS degree with specialization in Finance from Mumbai University.

Kaushal Mehta

Head - Offshore Funds

Kaushal Mehta has 21 years’ experience in financial markets. In his role as Head of Offshore Funds, he is responsible for providing investment advisory on the fixed income portfolios at the PMS division. Further he shall be acting as India investment specialist for Invesco’s global teams and clients. In his previous role as Senior Vice President for Fixed income markets with LKP Securities Limited, his profile included Business performance management, Business Strategy, Board reporting and functional head of debt capital markets, Fixed Income broking and Global investor sales.

Kaushal holds a Commerce post-graduation degree from University of Mumbai and Post Graduate Program in Management for Working Executives Degree from IIM, Indore.

Pratik Sanghvi

Dealer

Pratik Sanghvi is part of PMS team at Invesco and currently serves as ‘PMS Dealer’ at the firm. He has over 21 years’ of experience in financial services domain. Prior to this, he was working with Karvy Stock Broking Ltd. as Institutional Sales Trader, serving institutional clients. He has also worked with Asit C Mehta Investments & Intermediates Ltd. and Destimoney Securities Pvt Ltd. Pratik is a Commerce graduate and has completed his Masters in Finance from United Business Institute, Belgium.

Equity

Fixed Income

Our equity investment philosophy is centered on generating capital appreciation for the investor. The primary emphasis is on providing the investor with a degree of capital appreciation, superior to that of the returns from the equity class as represented by a market index over the longer term. Our core investment premise is that the equity markets are not completely efficient. A well-organized and thorough research effort combined with a disciplined portfolio management approach will enable out performance of the market index over time.

A key pillar of our disciplined approach is to stay true to the mandate of the specific fund as specified in the offer document under all circumstances. This is key to generating superior performance over time even though there could be times when staying true to the mandate may result in short-term underperformance. Our investment philosophy is a matrix framework of Company, Industry, Economic and Technical analysis. The equity team will provide many of the inputs for this framework, but we will also use inputs from external sources as and when required. This open framework is combined with an environment that encourages regular and constant debate; which we believe leads to superior decision making.

Stock categorization system

The objective of our stock categorization system is to enable us to identify stocks that are likely to be the best investments from within our universe. Each category of stock has a description of fundamental attributes that we expect the company to possess. The categorizations are as follows:

Stock Category	Descriptions (eg.)	Growth Prospects (eg.)	Company Attribute (eg.)	Financial Parameter (eg.)
Star	Young companies	High growth	Entrepreneur vision, scalability	Operating Leverage
Leader	Established companies	In line or better than industry	Track record of leadership, globally competitive	Industry leading margin / ROE
Warrior	Young / established companies	Better than industry	Unique proposition and / or right place, right time	Margin & ROE expansion
Diamond	Company with valuable assets	Low growth	Management intent to unlock value	Value of asset / business
Frog Prince	Company in a turnaround situation	Back to growth	Intrinsic strengths in core business	P2P, ROE expansion
Shotgun	Opportunistic investment	Positive surprise	Corporate event, restructuring, earnings news	Event visibility
Commodities	Call on the cycle is paramount	Positive	Integration, cost efficiency, globally competitive	Profit leverage
* P2P - Path to Profit, ROE - Return on Equity
Stocks that fit into one of these categories typically display superior return profiles, but more importantly this enables fund managers to focus on the attributes that drive stock price performance and keep a watch for red flags.

The philosophy for managing fixed income portfolios revolves around optimizing risk adjusted returns for the investor by investing in high quality credit assets, managing interest rate risk and minimizing liquidity risk.

Our fixed income investment philosophy is based on a top down research oriented model with focus on economic data analysis. We strive to generate optimized risk adjusted returns by providing for safety of capital, liquidity of funds and investment income for the investors. The portfolios are actively managed for both the interest rate risk, credit and liquidity risk. The interest rate risk is managed across duration buckets and portfolio composition is managed through active asset allocation across credits and the liquidity risk through a well-diversified portfolio.

The investment team follows a disciplined research oriented investment process to meet fund-specific investment objectives on a long-term investment horizon. The fund manager strives for outperforming the benchmark by selecting superior credits, based on the in-house analytical credit research and interest rate direction calls without compromising on the liquidity risk.

The credit risk assessment constitutes an integral part of the investment process and is carried out across sectors covering manufacturing, finance and services. By applying the credit model, we determine and monitor the credit worthiness of an issuer and assess the credit exposure limit. Our internal credit rating acts as a powerful risk containment tool that allow the fund manager to narrow down select credits to match the credit strategies of individual funds.

What Sets Us Apart?

Ours is a culture founded on innovation, integrity and intellectual rigour, combining a disciplined investment approach with an unwavering commitment to exceptional, individualized service. Our team of portfolio managers and analysts provide our clients access to unique insights, deep intellectual capital and a range of investment solutions across multiple strategies. Our Fund Management Team is experienced in designing and executing cost-effective, value enhancing investment approaches to preserve and grow wealth for the long term.

Build your career with us

We believe employees are important stakeholders in the growth and development of our organization. We value, nurture and reward the application of intellectual expertise across our company. We back this up by actively encouraging people to develop their skills and build on their professional qualifications.

We work in a knowledge driven environment that fosters and demands cohesive teamwork, unconventional thinking and continuous learning. The atmosphere is one of knowledge generation and sharing.

We aim to provide employees with an invigorating and professional work environment based on respect, openness and trust. A strong commitment to perform with a passion for excellence is what we expect from our employees.

If you're interested in pursuing a career with Invesco Mutual Fund or any of our Invesco affiliates, please visit the Invesco career center to review our opportunities. Research what makes our company one of the premier investment leaders in our industry and learn about some of the many benefits of working here.

Visit Invesco Careers

Search

Who We are

Build your career with us