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Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future returns.
Disclaimer
Past performance is not indicative of future returns. All returns are TWRR based. Investments in securities markets are subject to market risks. Read all the related documents carefully before investing.
Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future returns.
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Read Carnelian Asset Management’s story and investment philosophy on the firm page.
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Vikas Khemani
Co-Founder & CEO
Vikas Khemani is Co-Founder and CEO of Carnelian Asset Management. A Chartered Accountant, CFA Charterholder, and Company Secretary with ~27 years of capital markets experience, he founded Carnelian in 2019 after 17 years as CEO of Edelweiss Securities, where he built institutional equities, investment banking, and equity research businesses to market leadership. He is a Member of CII National Council on Corporate Governance, FICCI Capital Markets Committee, and the Young Presidents Organization (YPO).

Manoj Bahety
Co-Founder & Head of Research
Manoj Bahety is Co-Founder of Carnelian Asset Management. A CA and CFA Charterholder with ~27 years of capital markets experience, he was Deputy Head of Institutional Equity Research and pioneered forensic research at Edelweiss Securities (12 years). He created 'Analysis Beyond Consensus' (ABC Research) — a differentiated forensic framework to evaluate true economic numbers behind reported financials, helping investors avoid pitfalls. He has chaired CFA Institute's India advocacy committee and served on the US-based global CDPC committee.

Swati Khemani
Co-Founder
Swati Khemani is Co-Founder of Carnelian Asset Management with 23 years of financial experience across equity research, institutional sales, client relationships, and human capital management. She manages the overall business and capital management at Carnelian, and has been instrumental in building the firm's cohesive investment management team and investor and corporate relationships.
Registration No
INP000006387
Fund Manager
Mr.Kunal Shah
Compliance Officer
Mr.Chirag Chad
Principal Officer
Mr.Kunal Shah
Inflow
₹154.36 Cr
Outflow
₹6.55 Cr
Net
₹147.81 Cr
Not reported — complaint data for this strategy isn't available yet.
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Last updated: 1 May 2026
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