We pursue a long only, buy and hold India focused equity strategy. Our concentrated portfolio consists of 15-20 businesses capable of generating high returns on capital across market cycles, without requiring leverage and selected through strict bottom-up criteria with emphasis on quality, growth, value and managerial probity.

We seek to minimize frictional costs and to defer capital gains by investing only in companies that we believe are capable of compounding over many years. We make no attempt to control volatility relative to any benchmark and aim to achieve positive absolute returns with a strong capital preservation bias. This makes us ideal partners for businesses who think in decades, not quarters.

At Bay, we share a passion for investing and our culture embraces constructive debate, innovation and the pursuit of continuous improvement. From inception, Bay has been anchored by the following core values which continue to motivate and mould the business every day. These values are paramount and act as a touchstone to shape the decisions made on every level.

Bay strives for ubiquitous EXCELLENCE, consistently delivering long-term performance not just across our investment portfolio but throughout everything we do.

Bay sets industry-leading standards for SERVICE to our Partners, to our company, to our team and in a greater sense, to the world, ensuring we serve to deliver positive outcomes.

Engineering this is Bay’s pledge to HUMILITY. By remaining humble we can recognise our weaknesses and imperfections as well as ensure that we are open to new ideas and change.

Bay is committed to STEWARDSHIP, serving our clients long-term interests above our own short-term goals.