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About Us

About Fortitude

Fortitude Fund Management is built on a simple belief: markets frequently misprice good businesses, and patient investors who look where others don’t get rewarded for it.

We are a research-driven investment firm practising long-term, contrarian value investing. Every position has to clear our BMV framework a durable Business, capable and honest Management, and a Valuation that leaves real room for error. Our edge is sharpest in small and mid-caps, balanced by select large-caps that anchor the portfolio.

A meaningful part of our own capital sits in the same strategy as our clients’. We’re not chasing assets under management we’re building decade-long partnerships with investors who share our conviction and patience.

Markets are efficient in aggregate, and wrong about individual businesses with striking regularity. Fortitude Fund Management exists in that gap - built to identify what the market has misjudged, and to hold with the patience such conviction demands

Our Leadership

The Minds Behind Fortitude​

Beyond managing investments, we build long-term partnerships grounded in transparency, trust, and a shared commitment to enduring financial success.

Abhishek Shah

Principal Officer

Abhishek Shah is an investment professional with over 15+ years of experience in Indian equities, specialising in disciplined fundamental research and contrarian portfolio construction. He most recently served as the Co-Fund Manager of the Wallfort India Contra Equity Fund, which ranked among India’s top-performing PMS schemes for FY2024-25.

His investment philosophy is centred on identifying undervalued businesses with structural strength, conducting rigorous, independent research, and seeking to compound capital over the long term. Abhishek is a CFA charterholder and holds a BSc (Hons) in Management from Warwick Business School, UK.

Aneri Shah

Operations & Marketing

Aneri is a Designated Partner with over 10 years of experience in brand management, marketing, and client relationship management. She brings expertise in building strong stakeholder relationships and fostering long-term partnerships.

Our Philosophy

We practice deep value investing: buy fundamentally strong companies during temporary bad times, at prices that already reflect the worst. For us, capital preservation and long-term returns both start with the price you pay.

Every investment is evaluated through our BMV framework:

  • Business companies with structural tailwinds and the strength to survive both good cycles and bad ones. We're not afraid of cyclical or out-of-favour sectors.
  • Management judged on capital allocation skill and the integrity to do right by shareholders when no one's watching.
  • Value a genuine margin of safety, because even the best business is a poor investment at the wrong price.

‘Integrity is doing the right thing, even when no one is watching’ – C.S. Lewis