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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

The Minds Behind Fortitude

Meet the leaders driving our vision with integrity, expertise, and purpose.

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 15+ years of experience in Indian equities, specialising in disciplined fundamental research and contrarian portfolio construction. He most recently served as Co-Fund Manager of the Wallfort India Contra Equity Fund, which ranked among India’s top-performing PMS schemes for FY2024-25. His career reflects a consistent philosophy: identify undervalued businesses with structural strength, conduct rigorous independent research, and compound capital over the long term. Abhishek holds a CFA Charterholder and a BSc (Hons) in Management from Warwick Business School, UK.

aneri-shah

Aneri Shah

Operations & Marketing

Aneri is the Designated Partner with 10+ years of experience in brand management, marketing, and client relationship management. She brings expertise in building stakeholder value 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.

We define risk as the permanent loss of capital, not short-term volatility, that is why we place greater emphasis on valuation discipline and maintaining a large-cap anchor than on trying to time the market. We’re equally comfortable holding cash when nothing meets our criteria. Above all, we measure success by alignment: our own capital rides alongside our clients’, because we’re here to compound wealth together.