What QED Capital does

QED Capital Advisors LLP is a Mumbai-based Portfolio Management Services (PMS) firm founded in 2015 that offers systematic, rules-based equity investment strategies to Indian high net worth individuals, NRIs, HUFs, corporates, partnership firms, and trusts. The firm operates two core products: AlphaBets, a midcap and smallcap-focused strategy blending momentum, volatility, and trend factors (live since March 2022, with a reported 26.81% CAGR through August 2024 versus a 22.00% benchmark), and Core Equity, a large-cap-tilted strategy blending low volatility, quality, value, and momentum across the top 300 stocks by market cap (live since March 2023, with a reported 27.65% CAGR versus a 26.22% benchmark).

The underlying technology is a proprietary factor-based investment methodology grounded in Nobel laureate academic research, executed through pre-determined selection criteria and rebalancing frequencies designed to avoid behavioral biases. QED publishes scholarly articles and annual investor letters to support thought leadership, and co-invests its own capital alongside clients to align interests. Distribution is direct-to-client under SEBI PMS guidelines, with both offline paper-based and online Aadhaar-OTP-based onboarding, and HDFC Bank serves as the third-party custodian for client demat and bank accounts.

The firm is led by Managing Partner Anish Teli, a Chartered Accountant and ISB MBA with 20 years of Indian equity markets experience, including senior roles at ICICI Venture (AUM over $2Bn) and Morgan Stanley Private Equity Asia as a voting member of the MSPEA-III ($1.25Bn) Investment Committee. The business is privately held with 1-10 employees, no disclosed external funding, and operates solely within India.

Name

QED Capital

Legal name

QED Capital Advisors LLP

Website

https://qedcap.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

QED Capital Advisors LLP is a Mumbai-based SEBI-registered PMS firm offering systematic, rules-based factor-investing strategies (AlphaBets and Core Equity) to Indian HNI, NRI, HUF, and corporate clients via direct onboarding with HDFC Bank custody.

Ownership category

akta.pro rank

Product category

Portfolio Management Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Discretionary Portfolio Management (DPM) (FSAAABAC)

Keywords

• Portfolio management services
• Systematic equity investing
• Factor-based investing
• Wealth management
• Quantitative investment strategies

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Portfolio Management Services (PMS): QED Capital earns revenue through portfolio management fees by managing client investments in their systematic rule-based equity strategies. Clients include Indian Residents, HUF, NRI, Companies, Partnership Firms, HUF and Trust.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

QED Capital Advisors LLP is a SEBI-registered Portfolio Management Services (PMS) provider that runs two systematic, rules-based equity strategies: AlphaBets (midcap and smallcap focused, blending momentum, volatility and trend factors) and Core Equity (large cap tilted across top 300 stocks, blending low volatility, quality, value and momentum factors). The firm manages client portfolios on a discretionary basis under direct onboarding, with HDFC Bank acting as custodian.

Product overview

QED Capital Advisors LLP is a Portfolio Management Services (PMS) firm offering systematic, rules-based investment strategies. The company operates two primary investment products: AlphaBets, a midcap and smallcap-focused strategy utilizing momentum, volatility, and trend factors; and Core Equity, a large and mid-cap tilted strategy employing value, quality, low volatility, and momentum factors. Both strategies operate on systematic, quantitative principles designed to avoid behavioral biases.

Differentiator

Problem solved

Functional benefit

Products and services

• AlphaBets PMS Strategy

Named customers7 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• HDFC BankcoreOthersHDFC Bank serves as the third-party custodian for QED Capital's PMS clients. Client demat and bank accounts are opened in the client's name with HDFC Bank, providing secure custody of assets.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Alchemy Capital Management: Long-standing Indian PMS offering both large-cap and mid/small-cap equity strategies. Comparable to QED as a boutique PMS serving Indian HNW clients with multiple equity strategies.
• Marcellus Investment Managers: India-based PMS provider known for consistent compounding and quality-focused long-only portfolios. Directly comparable to QED as a boutique Indian PMS serving HNW clients with disciplined, research-driven equity strategies.
• ValueQuest Investment Advisors: India-focused PMS running concentrated, value- and quality-tilted equity portfolios for HNW clients. Closely comparable to QED's Core Equity strategy in philosophy and client segment.
• White Oak Capital Management: Indian PMS founded by former Morgan Stanley executives with a research-driven, quality-and-growth equity approach. Directly comparable to QED given similar boutique scale, founder pedigree from top-tier global financial institutions, and Indian equity focus.
• Abakkus Capital: Indian PMS offering opportunistic, fundamentally-driven equity strategies to HNW investors. Comparable to QED as a boutique PMS with concentrated, conviction-led Indian equity portfolios.

Broad incumbents

• AQR Capital Management: Global quantitative asset manager applying factor and academic research across equities and multi-asset strategies. Comparable to QED in factor-based investment philosophy, though globally scaled and institutionally focused.
• Motilal Oswal Asset Management (PMS): Large Indian asset manager offering PMS, mutual funds and advisory services under a well-known financial services brand. Comparable as a scaled, brand-led Indian PMS competitor with significantly broader distribution than QED.
• Kotak Mahindra Asset Management (PMS): Indian asset management arm of the Kotak Group offering PMS and advisory services. Comparable as a large, bank-affiliated Indian PMS with deeper distribution and balance sheet than QED.
• ASK Investment Managers: One of India's largest and most established PMS and wealth managers, offering a broad suite of equity and multi-asset strategies. Comparable as a scaled Indian PMS competitor with broader product range than QED.
• Dimensional Fund Advisors: Global asset manager built entirely on academic factor investing research. Comparable to QED as a leading quant factor-based investment manager — though operating at far greater scale and globally rather than India-only.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/qedcap
• Facebookfacebook.com/QEDCapital
• LinkedInlinkedin.com/company/qedcapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about QED Capital