Investing Old Bridge Mutual Fund Old Bridge Capital Management Kenneth Andrade

Old Bridge Mutual Fund

From WebNotes, a public knowledge base. Last updated . Reading time ~8 min.

Old Bridge Mutual Fund is an Indian asset management company founded by Kenneth Andrade, the long-tenured value investor known for his earlier role as Chief Investment Officer at IDFC Asset Management (now Bandhan Mutual Fund ). The AMC was operationalised in 2024 following SEBI approval, evolving from the earlier Old Bridge Capital Management entity that operated as a Portfolio Management Services (PMS) provider since 2016. Old Bridge Mutual Fund operates under SEBI registration and the SEBI (Mutual Funds) Regulations 1996 framework.

The AMC’s distinctive feature is the deep-value, contrarian investment philosophy that Kenneth Andrade has practised through his entire investing career. Andrade is one of the most-recognised individual investors in India, having built his reputation through long-term performance at IDFC Asset Management (2005-2015) and the subsequent PMS operation. The mutual fund AMC extends this philosophy to a retail audience for the first time, making the Old Bridge investment approach accessible at lower minimum thresholds than the Rs 50 lakh PMS entry.

As of mid-2025, Old Bridge Mutual Fund’s AUM is in the early-stage range typical for newer AMCs (Rs 1,000-3,000 crore). The mutual fund schemes are expected to grow steadily through 2025-2028 as the founder’s brand reputation and track record translate into retail mutual fund subscription.

Founder background

Kenneth Andrade

Kenneth Andrade joined IDFC Asset Management in 2005, eventually rising to Chief Investment Officer. During his decade-long tenure (2005-2015), IDFC’s equity schemes (particularly the IDFC Premier Equity Fund) developed a distinctive value-investing reputation. Andrade left IDFC in 2015 to found Old Bridge Capital Management.

Andrade’s investment philosophy is characterised by:

  • Concentrated portfolios with 25-40 stocks rather than the 50-100 stock holdings typical of large AMCs.
  • Sector rotation based on macro and industry-cycle signals.
  • Long holding periods with annualised portfolio churn well below industry averages.
  • Avoidance of widely-owned consensus stocks in favour of less-followed mid and small-cap names.

The philosophy is sometimes described as “deep value with cycle awareness” or “contrarian with patience”.

Old Bridge Capital Management (PMS, 2016-2024)

Old Bridge Capital Management was founded by Kenneth Andrade in 2016 as a Portfolio Management Services provider under the SEBI PMS Regulations 2020 framework. The PMS targeted HNI investors with the Rs 50 lakh minimum investment, applying Andrade’s value-investing philosophy across discretionary mandates.

The PMS operation grew steadily through 2016-2024, building a multi-year performance track record that informed the subsequent mutual fund launch.

2024 mutual fund operationalisation

In 2024, Old Bridge Capital Management received SEBI approval to operate as a mutual fund AMC. The mutual fund operationalisation expanded the firm’s addressable market from HNI PMS clients (Rs 50 lakh minimum) to retail mutual fund investors (Rs 100-Rs 5,000 minimum SIP).

The MF launch was preceded by:

  • The standard SEBI examination process for new AMC registration.
  • Recruitment of the operational team beyond the existing PMS structure.
  • Buildout of fund administration, custodian, RTA, and trustee relationships.

Product range

Old Bridge Mutual Fund operates a focused scheme line-up reflecting the AMC’s value-investing specialty:

Equity-oriented schemes (core focus):

  • Old Bridge Focused Equity Fund.
  • Old Bridge Flexi Cap Fund .
  • Old Bridge Small Cap Fund.

The scheme line-up may expand through 2025-2026 as the AMC builds out additional categories. Initial focus on equity-only schemes reflects the AMC’s positioning as a specialist house rather than a broad-market AMC.

Investment philosophy

The Old Bridge investment approach applied to mutual fund schemes:

  • Bottom-up stock selection with focus on cash-flow quality, capital efficiency, and management track record.
  • Long-term holdings with periodic rebalancing based on valuation signals.
  • Avoidance of momentum-driven positioning even during strong market trends.
  • Concentrated portfolios of 25-40 stocks per scheme.
  • Cash holding flexibility to deploy during market corrections.

Distribution

Old Bridge Mutual Fund is served by KFin Technologies as RTA. Distribution channels:

Place in the Indian mutual fund industry

Old Bridge Mutual Fund occupies the value-investing specialist niche in the Indian mutual fund industry. Comparable positioning AMCs include:

The value-investing specialist subset competes against the broad-market AMCs primarily through:

  • Founder-led brand reputation that resonates with discerning retail investors.
  • Distinctive performance characteristics that diverge from category benchmarks during market extremes.
  • Long-term track records that demonstrate the approach’s viability across market cycles.

Old Bridge Mutual Fund’s near-term growth depends on the new mutual fund schemes building track records that justify the founder’s reputation, alongside continued performance discipline in the existing PMS strategies.

See also

External references

References

  1. Old Bridge Mutual Fund offer documents and scheme information documents, oldbridgemf.com, accessed May 2026.
  2. SEBI Master Circular on Mutual Funds, sebi.gov.in.
  3. AMFI monthly AUM data, amfiindia.com.
  4. Old Bridge Capital Management public disclosures.
  5. Historical coverage of Kenneth Andrade’s tenure at IDFC Asset Management.

Related articles

  • 360 ONE Mutual Fund

    360 ONE Mutual Fund is an Indian asset management company that was formerly IIFL Mutual Fund, rebranded in 2024 after the parent IIFL Wealth …

  • Abakkus Mutual Fund

    Abakkus Mutual Fund is an Indian asset management company sponsored by Abakkus Asset Manager, founded by Sunil Singhania the long-tenured …

  • Angel One Mutual Fund

    Angel One Mutual Fund is an Indian asset management company sponsored by Angel One Limited, the listed discount broker formerly known as …

  • BNP Paribas Mutual Fund (historical)

    BNP Paribas Mutual Fund was the Indian asset management subsidiary of BNP Paribas Asset Management, operationalised in 2004 after BNP …

  • Bank of India Mutual Fund

    Bank of India Mutual Fund is an Indian asset management company sponsored by Bank of India, the public sector bank. Covers the history …

  • Baroda Mutual Fund (historical)

    Baroda Mutual Fund was the Indian asset management subsidiary of Bank of Baroda, operationalised in 1994 as one of the first public-sector …

Reviewed and published by

WebNotes Editorial Team

The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

Last reviewed
Conflicts of interest
WebNotes is independent. No relationship with any broker, registrar or bank named in this article.