Last Updated on: 26 Aug 2023

Gulaq Gear 6
Growth oriented concentrated portfolio for Aggressive investors
(100% Equity)

3Y CAGR
High Volatility
56.35% Since: May 11, 2020

smallcase rationale
This portfolio follows a directional strategy that aims to consistently outperform
the benchmark equity index while maintaining low volatility. It is a quantitatively
managed fund that implements a systematic rule-based trading model to remove
human subjectivity.

Directional Strategy in Indian Equities

Systematic Rule Based Trading

Identifying Investible businesses in S&P BSE 500

Agnostic to Sector and Market Capitalization

Identify stocks using a combination of technical and fundamental factors

Optimize the portfolio for maximizing risk rated returns

Allocate capital to equities on basis of market valuations

Created by SEBI Reg. Number Subscription Type

Estee INA000016463 Paid

Invest in this smallcase here

Methodology

De ining the universe

BSE 500

Research
Estee team runs proprietary rule based algorithms once a month
to pick or reject individual stocks. Only quantitative parameters
are considered while screening stocks for the respective strategy.

Constituent Screening
The strategy takes data from the market as input and identi ies
investible businesses from S&P BSE 500 universe using a
combination of technical and fundamental factors based on
which the position is built in the top ranked stocks. The capital is
always invested in our equity portfolio optimized for risk rated
returns. The portfolio is regularly re-evaluated and rebalanced.
This product has equity index (e.g. Nifty50) kind of risk with a
much superior expectation of returns.

Weighting
Based on our rule based algorithm individual security weights are
decided

Rebalance
This smallcase has a monthly rebalance schedule. Once every
month, the research team reviews this smallcase to add or drop
stock/ETFs, if applicable

Ratios

Ratio smallcase Equity Multi Cap

PE Ratio 27.50 23.98

PB Ratio 3.57 3.52

Sharpe Ratio 2.32 1.16

Dividend Yield (%) 1.21 1.22

Important Fields
Inception Date Launch Date Marketcap Category
December 30, 2016 May 11, 2020 Equity Multi Cap

Review Frequency Last Reviewed Next Review On

Monthly July 28, 2023 August 28, 2023

Market Cap Distribution

Large Cap Mid Cap Small Cap

16.80% 38.50% 44.70%

Live Performance vs Equity Multi Cap

Gulaq Gear 6 vs Equity Multi Cap

400

350

300

250

200

150

100
2021 2022 2023

Note: Live performance includes rebalances. It is a tool to communicate factual

return information and should not be seen as advertisement or promotion.

Returns over various periods

3M Returns 6M Returns 1Y Returns 3Y Returns

smallcase smallcase smallcase smallcase

12.53% 36.25% 42.95% 223%

Equity Multi … Equity Multi … Equity Multi … Equity Multi …

7.34% 16.37% 11.77% 78.04%

How to subscribe

How to invest

De initions and Disclosures

CAGR

CAGR (compounded annual growth rate) is a useful measure of growth or

performance of a portfolio. Every year returns generated by a portfolio are
different. Let's say if a portfolio is live for 3 years and returns generated by the
portfolio are 5%, 15% & -7%, respectively in the irst, second and third year. Then
we calculate CAGR as a return number that would give the same terminal
investment value at the end of three years, as we get when the portfolio gains by
5% & 15% in the irst two years and drops by 7% in the third year. The CAGR in this
case would be 3.94%. This means that you will always end up with the same
investment value at the end of the third year, if your portfolio gains by 3.94% every
year or 5%, 15% and -7%, respectively in the irst, second and third year.
In simple words, it indicates the annual return generated by the smallcase from
the date of launch. For smallcases live for less than 1 year, absolute returns in the
applicable time period are shown. Only live data is considered for all calculations.
Returns and CAGR numbers don’t include backtested data.
P.S. - CAGR calculation methodology got updated from 25th Apr’22 on all
smallcase Platforms. Please read this post to understand the changes in detail

Volatility Label

Changes in stock/ETF prices on a daily basis result in luctuations to the

investment value of your portfolio. In order to help investors understand the extent
of luctuation they might observe with their smallcase investment, every smallcase
is categorized into one of the three volatility buckets - High, Medium and Low
Volatility. This is done by comparing the smallcase’s volatility against that of the
Nifty 100 Index.
If the daily change in the investment value of a portfolio is too drastic, it means
prices of stocks/ETFs in the portfolio are changing very rapidly. Such portfolios
have High Volatility. Investing in High Volatility smallcases means that changes in
your investment values can be very sudden and drastic, whereas luctuations in
the investment value of Low Volatility smallcases are expected to be lower in
comparison. 
For more information about how volatility is calculated, please check here

Segment

Stocks/ETFs belonging to a smallcase are categorized under different segments.

Weightage of a segment is calculated as sum of weights of all stocks belonging to
that segment. Suppose 4 stocks, with each having a weight of 10%, belong to the
Food Products segment. Then the weight of the Food Product segment in the
smallcase will be 40% (4*10)

For smallcases where manager has not prescribed any weights, equal weights are
assumed for calculations.

Review

Rebalancing is the process of periodically reviewing and updating the

constituents of a smallcase. This is done to ensure that constituents in the
smallcase continue to re lect the underlying theme or strategy

Market Cap Categorization of Stocks

All the stocks listed on NSE(National Stock Exchange) are arranged in decreasing
order of Market Cap, so that the stock with the largest market cap gets 1st Rank.
Stocks ranked equal to or below 100 are categorized as Large Cap. Stocks ranked
below or equal to 250, but ranked above 100 are categorized as Mid Cap stocks.
Stocks ranked above 250 are categorized as smallcap

Market Cap Categorization of smallcases

If the sum of weights of constituent large cap stocks is greater than 50%,
then smallcase is categorized as Largecap

If the sum of weights of constituent mid cap stocks is greater than 50%, then
smallcase is categorized as Midcap

If the sum of weights of constituent small cap stocks is greater than 50%,
then smallcase is categorized as Smallcap

If the sum of weights of constituent large cap stocks is greater than 30%,
sum of weights of mid cap stocks are greater than 30%, and sum of weights
of large cap and mid cap stocks are greater than 80%, then smallcase is
categorized as Large & Midcap

If the sum of weights of constituent small cap stocks is greater than 30%,
sum of weights of mid cap stocks are greater than 30%, and sum of weights
of small cap and mid cap stocks are greater than 80%, then smallcase is
categorized as Mid & Smallcap

If none of the above conditions are met, then smallcase is categorized as

Multicap

For smallcases where manager has not prescribed any weights, equal
weights are assumed for calculations.

Comparison of live performance

To help investors make informed decisions, smallcase platform provide many

tools. One of the tools provided on the platform is the comparison of the live
performance of the smallcase. This comparison is a tool to communicate
factual return information and should not be seen as advertisement or
promotion. Following methodology is used to provide users different options
to compare the performance of the smallcases

All smallcases have an option to compare the live performance against

returns generated by Bank FDs, In lation and Equity asset class

FD returns are calculated using the data available from RBI. The annual
data for 1-3 year deposit rates is considered. This data is used to
compute a daily index series, where the annual returns of the series
correspond to the annual deposit rates provided by the RBI. For instance,
if the annual deposit rates for year 1 is 6% and year 2 is 7%, the total
return of the series after 2 years is calculated as 1*(1+6%)*(1+7%) - 1 =
13%. This series is also utilised to determine the CAGR between any 2
speci ied dates

In lation returns are calculated using the data available from IMF. The
annual percent change in average consumer prices is considered. This
data is used to compute a daily index series, where the annual returns of
the series correspond to the annual in lation rates provided by the IMF.
For instance, if the annual in lation rates for year 1 is 6% and year 2 is 7%,
the total return of the series after 2 years is calculated as 1*(1+6%)*(1+7%)
- 1 = 13%. This series is also utilised to determine the CAGR between any
2 speci ied dates

Equity returns represent the returns generated by Nifty 50 Index

All smallcases have an option to compare the live performance against the
returns generated by Equity Largecap section of the market - represented by
Nifty100 index

Each smallcase is categorized into one of the market cap categories using
the methodology explained in the section above. Following options are made
available, as per the marketcap category of the smallcase

Market Cap Category Comparable Option

Largecap Nifty 100

Midcap Nifty Midcap 150

Smallcap Nifty Smallcap 100

Large & Midcap Nifty LargeMidcap 250

Mid & Smallcap Nifty MidSmallcap 400

Multicap Nifty 500

General Investment Disclosure

Charts and performance numbers on the platform do not include any backtested
data. Please refer to the Returns Calculation Methodology to check how returns are
calculated on the platform. Data used for calculation of historical returns and
other information is provided by exchange approved third party data vendors and
has neither been audited nor validated by the Company. For smallcases where
weights are not provided by the creator, Equal weights are used to calculate all
returns, numbers and ratios on the platform.
Investment in securities market are subject to market risks. Read all the related
documents carefully before investing. Investors should consider consulting their
inancial advisor while considering any investment decisions.

Estee Disclosures

ESTEE ADVISORS PRIVATE LIMITED is registered with SEBI with INA000016463 as

the SEBI registration number. The registered o ice address of ESTEE ADVISORS
PRIVATE LIMITED is 5th Floor, Unit no. PO5-01A, PO5-01B, PO5-01C, Building No-51,
, Tower A, WTC Gift City, Village Ratanpur, Gandhinagar, Gujarat, 382355 . The CIN
number of the company is U65990GJ2019FTC115697. The manager is a member
of BSE Administration & Supervision Ltd (BASL) with Membership Number 1698.

The content and data available in the material prepared by the company and on
the website of the company, including but not limited to index value, return
numbers and rationale are for information and illustration purposes only. Charts
and performance numbers do not include the impact of transaction fee and other
related costs. Past performance does not guarantee future returns and
performances of the portfolios are subject to market risk. Data used for calculation
of historical returns and other information is provided by exchange approved third
party vendors and has neither been audited nor validated by the Company.
Detailed return calculation methodology is available here. Detailed volatility
calculation methodology is available here.

Information present in the material prepared by the company and on the website
of the company shall not be considered as a recommendation or solicitation of an
investment. Investors are responsible for their investment decisions and are
responsible to validate all the information used to make the investment decision.
Investor should understand that his/her investment decision is based on personal
investment needs and risk tolerance, and information present in the material
prepared by the company and on the website of the company is one among many
other things that should be considered while making an investment decision.

Investments 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

certi ication from NISM in no way guarantee performance of the intermediary or
provide any assurance of returns to investors.

1.      The Investment Adviser is inter alia in the business of providing investment

advice to individuals and corporates regarding investments. Investment Adviser
has obtained registration from SEBI under the SEBI (Investment Advisers)
Regulations, 2013 and is duly authorized by SEBI to provide Investment Advisory
Services within the purview of SEBI (Investment Advisers) Regulations, 2013, any
amendments thereto from time to time vide Registration No. INA000016463.
 
2.      Investment Advisor’s role is to deliver investment advisory services to the
Client(s). Hence the role is limited to advisory by carrying out portfolio review and
inancial planning based on risk pro iling. The general objective is to formulate
and device investment philosophy to achieve long term growth of capital or
generate income or both, by investing in assets, which generate reasonable return
and to advice client in line with each client’s pro ile with regard to their risk
tolerance levels and speci ic preferences or concerns and to advice clients in line
with each client’s goals on the basis of risk tolerance levels and other constraints
if any.
 
3.      The Investment Adviser does not provide any promise or assurance of
favorable view for a particular industry or sector or business group in any manner.
The client/s is/are requested to take into consideration all the risk factors
including their inancial condition, suitability to risk-return pro ile The analysts for
various products or reports created by the investment adviser certify that all
information/ material therein accurately re lect his or her personal views about the
subject investment or companies and its or their securities, and no part of his or
her compensation was, is, or will be, directly or indirectly related to the
company(ies) in various products or reports created by the company. No part of
this material may be duplicated in any form and/ or redistributed without the prior
written consent of the Company.
 
4.      The Investment Adviser has a contractual arrangement with a vendor -
Smallcase Technologies Private Limited (STPL); whereby STPL provides technology
solutions and related back-end infrastructure along with support for back o ice
related operations and processes.
 
5.      Terms and conditions of advisory services are detailed in the Investment
Adviser Agreement. Please refer to the same for details.
 
6.      The Investment Adviser has neither been suspended nor debarred from
doing business by any Stock Exchange/ SEBI or any other authorities; nor has its
certi icate of registration been canceled by SEBI at any point of time.
 
7.      No penalties / directions have been issued by SEBI under the SEBI Act or
Regulations made there under against the Investment Adviser relating to
Investment Advisory services.
 
8.      There are no pending material litigations or legal proceedings, indings of
inspections or investigations for which action has been taken or initiated by any
regulatory authority against the Investment Adviser or its Directors, or employees.
 
9.      Investment Advisor is also registered with SEBI as a Stock Broker and
Portfolio Manager and throughout the tenure Investment Advisor shall maintain
arm’s length relationship between its Investment Adviser activity and other
activities.
 
10.  Investment Adviser and its Associates, O icers, Directors, and Employees,
Research Analyst (including relatives) worldwide may: (a) from time to time, have
long or short positions in, and buy or sell the securities thereof, of the
company(ies) forming part of the products or reports created by the Investment
Adviser or (b) may have other potential/ material con lict of interest with respect
to any company(ies) in various products or reports created by the Investment
Adviser. Any such positions of con lict of interest will be appropriately disclosed
and dealt with in accordance with applicable law.
 
11.  The advisor has no connection or association of any sort with any issuer of
products/ securities advised herein. The advisor has no actual or potential
con licts of interest arising from any connection to or association with any issuer
of products/ securities, including any material information or facts that might
compromise its objectivity or independence in the carrying on of investment
advisory services. Such con lict of interest shall be disclosed to the client as and
when they arise.
 
12.  To access the key features of the securities, particularly, performance track
record please go to the below links:, www.bseindia.com , www.nseindia.com.
 
13.  Clients are requested to go through the detailed key features, performance
track record of the product, or securities including warnings, disclaimers etc.
before investing as and when provided by the Investment Advisor. Such product
materials may also be available to www.sebi.gov.in or www.nseindia.com
or respective issuers’ website.
 
14.  Investment Advisor draws the client’s attention to the warnings, disclaimers in
documents, advertising materials relating to investment product/s which are
being recommended to the client/s. A brief regarding the risks associated with the
investment products are available in Investment Adviser Agreement, same may be
referred before investing in advised product or securities. 
 
15.  Neither the Investment Adviser nor any of its holding companies, associate
concerns or a iliates or their respective directors, employees, or representatives
shall be liable for any direct, indirect, special, incidental, consequential, punitive,
or exemplary damages, including lost pro its arising in any way from the
information contained in this disclosure.
 
16.  For any grievances, kindly contact by writing an email
to grievances@gulaq.com.
 
Estee Advisors Private Limited
Registration Number: INA000016463
Validity: December 17, 2021 to Perpetual
Address: PO5-01A, PO5-01B, PO5-01C, 5th Floor, Tower A, WTC, Block 51, Road 5E,
Zone 5, Gift City, Gandhinagar-382355, Gujarat, INDIA. 
CIN: U65990GJ2019FTC115697

Contact Details:
Support Telephone: 9818894632
Support Email: support@gulaq.com

Compliance O ice Details:

Name: Harsh Drolia
Email: compliance@esteeadvisors.com
Contact: 01244637755

Grievance O ice Details:

Name: Harsh Drolia
Email: grievances@gulaq.com
Contact: 01244637755