Stonebridge Advisors LLP / Ahmedabad
Sponsor and Investment Manager of Anchor Rock Investment Fund - I
Anchor Rock Investment Fund - I is a Category III Alternative Investment Fund registered with SEBI, No. IN/AIF3/26-27/2253. It invests in listed Indian equities, chosen by bottom-up fundamental research and held for the long term while the thesis holds.
Units are offered only by private placement to eligible investors, under the Private Placement Memorandum. This website is not an offer or a solicitation.
- Alternative Investment Fund
- Category III
- Partners investing since
- 2005
- Fund registered with
- SEBI
- Registered office
- Ahmedabad
Who we are
One idea, held in a regulated structure
Stonebridge Advisors LLP is the Sponsor and Investment Manager of Anchor Rock Investment Fund - I, a Category III Alternative Investment Fund registered with the Securities and Exchange Board of India under the SEBI (Alternative Investment Funds) Regulations, 2012.
Own fundamentally strong businesses, bought through patient bottom-up research, and hold them long enough for value to compound.
The firm exists to carry that idea into a regulated, pooled structure. It is a partnership of investors, accountants and governance professionals rather than a single manager with a support staff, and the bench is deliberately built that way: research and portfolio judgement on one side, the fund accounting, statutory compliance and board-level governance that a SEBI registered fund is held to on the other.
- Legal name
- Stonebridge Advisors LLP
- Role
- Sponsor and Investment Manager
- Fund managed
- Anchor Rock Investment Fund - I
- SEBI registration of the AIF
- No. IN/AIF3/26-27/2253
- Market focus
- Listed Indian equities
- Core approach
- Bottom-up fundamental research, long-term holding
Structure
Manager, Trust and Fund
Three separate roles, held apart on purpose. The Manager makes investment decisions; the Trust holds the assets; the Fund is the pooled vehicle in which eligible investors participate.
- 01
Sponsor and Manager
Stonebridge Advisors LLP
Sets strategy, runs the research, makes the investment decisions and carries the compliance obligation.
- 02
The Trust
Anchor Rock Investment Trust
The SEBI-registered Category III Alternative Investment Fund under which the scheme is constituted.
- 03
The Fund
Anchor Rock Investment Fund - I
The pooled vehicle. Units are offered only by private placement to eligible investors, under the Private Placement Memorandum.
Investment approach
Principles the portfolio is built on
The approach is deliberately simple, because discipline is easier to hold when the rules are few and the reasons for them are understood.
Bottom-up, not top-down
The starting point is a business, not a forecast for the economy. The firm reads the accounts, understands how the company earns, and forms a view on what it is worth before it forms one on where the index is going.
Quality first
Preference for businesses that generate cash, carry manageable debt, and are run by managements whose past conduct can be checked. Governance is treated as an investment question, not a compliance one.
Concentration with conviction
Capital goes to a limited number of positions understood in depth. A portfolio spread too thin cannot outperform, and one held without conviction cannot survive a drawdown.
Time, not timing
Positions are held while the thesis holds. The intent is to give a good business the years it needs to compound, rather than to trade around quarterly noise.
Research process
From an idea to a position, and out again
Each position goes through the same sequence, and the same questions are asked at every step.
- Step 01
Idea generation
Ideas are generated in-house, from screening, sector tracking and the partners' own reading, rather than taken off a broker's list.
- Step 02
Sector assessment
Where the sector sits in its own cycle, what is driving demand, and whether the tailwind is structural or temporary.
- Step 03
Company due diligence
Financial statements read in full, unit economics understood, and promoter conduct and related-party history examined.
- Step 04
Valuation and sizing
A view on intrinsic value, the margin of safety at the current price, and a position size proportionate to conviction and to the risk being taken.
- Step 05
Monitoring and exit
The thesis is re-tested against results as they come. A position is sold when the thesis breaks or the value is realised, not because the price has moved.
The team
Investors, accountants and governance professionals
CA Bhavesh Pokiya
Fund Manager
Chartered Accountant (ICAI), NISM-XIX-C
Mr. Vandit Seladia
Partner and Investment Strategy Associate
MBA Finance, NISM-XIX-C
CS Parth Godhani
Compliance Officer
Company Secretary (ICSI), NISM-III-C
CA Vraj Changani
Strategic Advisor, Finance and Structuring
Chartered Accountant
Governance
Investment and control, in separate hands
A registered fund is judged as much on how it is run as on what it owns. The firm keeps the investment function and the control functions in separate hands.
A dedicated Compliance Officer
Compliance is a named responsibility held by a qualified Company Secretary, not a duty shared out among the investment team.
Under the SEBI AIF Regulations
The Fund operates under the SEBI (Alternative Investment Funds) Regulations, 2012, with regulatory reporting, statutory records and internal compliance controls maintained accordingly.
Separation of duties
The investment decision, the compliance function and the fund accounts sit with different named individuals, so no one person both takes a decision and checks it.
Qualified control functions
Fund management, accounting and compliance are held by professionals carrying ICAI, ICSI and the relevant NISM certifications for their function.
Insights
Notes on structure, approach and governance
Investor documents
What the fund documents cover, and why a website cannot
A website can describe a firm. It cannot be the offer. What the Private Placement Memorandum and the Contribution Agreement set out, and the framework behind them.
Approach
Quality first: governance as an investment question
Cash generation, manageable debt and a management whose past conduct can be checked. Why governance is treated as an investment question, not a compliance one.
Governance
Separation of duties in a registered fund
No one person should both take a decision and check it. How the firm divides the investment, compliance and accounting functions between named people.
Questions
Frequently asked
What is Stonebridge Advisors LLP?
Stonebridge Advisors LLP is the Sponsor and Investment Manager of Anchor Rock Investment Fund - I, a Category III Alternative Investment Fund registered with SEBI under the SEBI (Alternative Investment Funds) Regulations, 2012. Its registered office is at Sankalp Square 3B, Thaltej, Ahmedabad.
What does the Fund invest in?
The Fund's market focus is listed Indian equities. Businesses are chosen through bottom-up fundamental research and held for the long term, while the investment thesis holds. The investment strategy in full is set out in the Private Placement Memorandum.
How are units in the Fund offered?
Only by private placement to eligible investors, under the Private Placement Memorandum. This website is not an offer or a solicitation, and it does not set out the commercial terms of the Fund.
How do the Manager, the Trust and the Fund relate to each other?
They are three separate roles, held apart on purpose. Stonebridge Advisors LLP, the Manager, makes the investment decisions. Anchor Rock Investment Trust is the SEBI-registered Category III AIF and holds the assets. Anchor Rock Investment Fund - I is the pooled vehicle in which eligible investors participate.
Who is responsible for compliance?
Compliance is a named responsibility held by CS Parth Godhani, the Compliance Officer and a qualified Company Secretary, covering the Fund's adherence to the SEBI AIF Regulations, 2012, its regulatory filings and its governance records.
Where are the fees, the minimum commitment and the tenure set out?
Exclusively in the Private Placement Memorandum and the definitive fund documents, together with the distribution waterfall, investor rights and the full risk factors. A prospective investor must read them in full.
How can I contact the firm?
Write to info@anchorrockinvestment.com, call (079) 29990021, or use the enquiry form on the contact page. Please do not send confidential financial information through the website.
Before you read further
Risk, and what this website is not
Investment in the Fund carries risk, including the possible loss of capital. Equity markets are volatile, and a Category III Alternative Investment Fund may use leverage and complex strategies. There is no assurance of return.
This website describes the firm, its people and its approach. It does not set out the commercial terms of the Fund. Fees, the minimum commitment, the tenure, the distribution waterfall, investor rights and the full risk factors are set out exclusively in the Private Placement Memorandum and the definitive fund documents, which a prospective investor must read in full. Any figure on this website that is subject to change, including the SEBI registration particulars, should be verified against the current filings before it is relied upon.
Contact
Speak with the firm
Eligible investors, distributors and professional advisers can write to the firm or call the registered office in Ahmedabad. Units are offered only by private placement, under the Private Placement Memorandum.