A report on evaluation of Smartvalues portfolios prepared, by Professors of IIMA

Key Takeaways from the Research Report of
Smartvalues Investment Methodology by Professors of IIMA

Want to read the complete report? Download from here

  1. Short-Term Gains vs. Long-Term Stability
    • Over a one-year period, Smartvalues portfolios consistently outperformed market benchmarks (Nifty50, Nifty250, Nifty500).
    • Over three and five-year periods, the performance advantage declined, and in some cases, the market outperformed Smartvalues.
  1. Risk vs. Reward (Sharpe Ratio Analysis)
    • The Sharpe ratio (risk-adjusted return) was significantly higher for Smartvalues portfolios over one-year, meaning better returns for each unit of risk taken.
    • Over three and five years, the advantage diminished, indicating that high returns came with higher risk in the short term.
  1. Systematic Market Risk (Beta Analysis)
    • The portfolio beta (volatility compared to the market) increased over one year, suggesting that Smartvalues stocks were more sensitive to market movements.
    • Over longer timeframes, the beta remained stable or declined, meaning the portfolio became less risky relative to the market.
  1. Higher Risk for Higher Returns
    • In the one-year period, Smartvalues portfolios had higher risk and higher returns compared to simulated portfolios.
    • Over three and five years, returns were not proportionate to the increased risk, making it less attractive for long-term investors.
  1. Market Trends: Momentum vs. Mean Reversion
    • Smartvalues portfolios tended to pick stocks that exhibited momentum (upward price trends), meaning they benefited from market rallies.
    • Stocks in the portfolio showed persistence in returns over short timeframes (one to three months), indicating a strategy that capitalizes on recent market trends.
  1. Market Shocks and Volatility
    • Smartvalues portfolios were not significantly impacted by market downturns like COVID-19, meaning the selection strategy was robust to crises.
    • However, in the one-year period, upward market swings were less extreme, meaning Smartvalues stocks missed some rapid gains.
  1. Efficiency Frontier & Portfolio Simulation
    • Smartvalues portfolios outperformed random portfolios but only for short timeframes.
    • Over longer periods, they performed similarly to the market, meaning active management may not always yield better long-term results.
Want to read the complete report? Download from here

Want to read the complete report? Download from here

At Lamron Analysts we care about two things. Identifying and investing in long term trends. Providing our clients with the opportunity to benefit from these trends through long term relationships.

info@lamronanalysts.com
+91-81007-23140
+91-914738-0927

Company

Useful links

Investment Adviser Details

Registered Name: Lamron Analysts Pvt. Ltd. – Investment Adviser SEBI Registration No: INA300003772

Type of Registration: Non-Individual Validity of Registration: Until Cancelled

Address: 109/40B, Hazra Road, Kolkata – 700026 Telephone No. 033-24740657

CIN: U74140WB2000PTC091710 BASL
ID: 1322

Compliance Officer Details: Name: Prabhas Chandra Ray
Email: prabhas.ray@lamronanalysts.com Contact: 7003362380

Contact details of the Principal Officer

Name: Soumitra Sengupta
Contact no: 9831657426
Email id: soumitra.sengupta@lamronanalysts.com

Corresponding SEBI regional/local office address:
L&T Chambers, 3rd Floor, 16 Camac Street, Kolkata – 700017

Grievance Officer Details

Name: Prabhas Chandra Ray 
Email: prabhas.ray@lamronanalysts.com
Contact: 7003362380

Disclaimer: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors

©2025 Lamron Analysts. All Rights Reserved.