Multi-Act

Multi-Act Multi-Act is an India-based Investment Advisory, Equity Research and Portfolio Management firm serving Family Offices and UHNIs.

Founded in 1997, we focus on long-term wealth protection and creation. Disclaimer & SEBI Reg: https://multi-act.com/ Multi-Act was founded in 1997 by two Wharton graduates, to develop an Equity Research capability for their own investments. Today, we operate out of our offices in Mumbai and Pune and service a range of clients from wealthy families, family business owners to sophisticated investors

and capital intermediaries around the globe. We have 2 very distinct businesses carried out through the following companies. Multi-Act Equity Consultancy Pvt. Ltd - Engages in investment advisory activities for domestic Ultra High Net Worth Individuals. We also provide advisory and Portfolio Management Services for overseas entities that are FII’s -Foreign Financial Institutions/Qualified Foreign Investors (QFIs), Single Family Offices, Multi-Family Offices and University Endowments. Multi -Act Trade and Investments Pvt. Ltd - Provides Independent Research Services to investors, wealth managers, brokers and dealers around the globe centered around a deep accounting analysis that focuses on the Quality of Earnings, fundamental security valuation analysis using the 3 Tranche Value framework (Professor Bruce Greenwald, Columbia Business School) and an application of the Rational Analysis framework.

Raksha Bandhan celebrates the instinct siblings have to look out for one another.How this instinct shows up mostly chang...
28/08/2026

Raksha Bandhan celebrates the instinct siblings have to look out for one another.

How this instinct shows up mostly changes over the years. As lives take different paths, it more often takes the form of understanding, being there when it matters and knowing when to step in.

There is a thought here for investors too. Looking after capital is not about avoiding every risk, but about understanding the risks well enough to decide which ones are worth taking.

This Raksha Bandhan, we celebrate the people who continue to look out for us, even as life changes around us.

Warm wishes from all of us at Multi-Act.

There is something about Onam that brings people home, wherever life may have taken them. The pookalam is made, the sadh...
26/08/2026

There is something about Onam that brings people home, wherever life may have taken them.

The pookalam is made, the sadhya is prepared, and families gather around traditions that have travelled with them through generations.

And yet, no two Onams are the same. Families grow, new memories are made, and every generation adds something of its own. Maybe it's what makes traditions last.
They are carried forward, but they continue to grow with the people who inherit them.

Happy Onam from all of us at Multi-Act.

26/08/2026

What does market activity reveal about investor risk appetite?

In this episode of Multi-Act’s Market & Investor Sentiment Series, Amogh Korde and Vidhi Jain examine two indicators: Index Turnover and the Quality Arbitrage Index.

When read together, they help assess whether participation is concentrated or broad, whether quality is being rewarded, and how selectively investors are taking risk.

Watch the full discussion on YouTube: https://youtu.be/B5H8w7cU-po?si=61h6548K1wLCltVt

21/08/2026

After a business sale, what should family capital be designed to do?

Vikas Biyani, Associate Director & Portfolio Advisor, Multi-Act, explains why the starting point is the family’s mandate - what the capital needs to achieve, the income and liquidity required, and the risk the family can accept - before deciding the allocation.

Watch the full discussion on family-office allocation and long-term capital: https://youtu.be/3gtFTFm6Ah8?si=1tmtcHNMHZacwY2k

India’s progress since 1947 was made in countless, often unremarked moments - on farms and factory floors, in classrooms...
15/08/2026

India’s progress since 1947 was made in countless, often unremarked moments - on farms and factory floors, in classrooms and laboratories, through public institutions and private enterprises.

It belongs to the millions who did the work, and to those who continue it today, with bigger ambitions for what India can become.

This Independence Day, we honour that shared vision, we celebrate how far India has come, the many contributions that brought us here and the possibilities still ahead.

Jai Hind. Happy Independence Day from all of us at Multi-Act.

Over time, portfolios can become collections.A fund recommended by one adviser. An AIF introduced by another. A stock th...
14/08/2026

Over time, portfolios can become collections.

A fund recommended by one adviser. An AIF introduced by another. A stock that performed well. An asset added in response to the last market cycle.

Each may have made sense on its own. The more important question is whether they make sense together.

For families managing wealth across generations, a well-thought-through portfolio needs a clear strategy. Each investment should have a role, and those roles should come together to navigate different market and economic environments.

On Financial Awareness Day, it is worth taking a closer look at whether your investments form a collection or a thoughtfully constructed portfolio.

A portfolio can contain several good investments. What matters over the long term is how thoughtfully they work together.

Safe-haven assets are often discussed as a category. In our experience, the more important question is what exactly they...
14/08/2026

Safe-haven assets are often discussed as a category. In our experience, the more important question is what exactly they are expected to protect.

For families, that can mean preserving purchasing power, reducing dependence on financial assets during periods of stress, retaining liquidity or simply ensuring that every part of the portfolio is not exposed to the same market outcome.

This distinction is what Vikas Biyani’s focused on at the VCCircle Family Office Summit 2026. From gold and counterparty risk to quasi-fixed-income opportunities, asset allocation and the role investor behaviour plays in judging different parts of a portfolio.

As Vikas puts it:

“Safe-haven assets are akin to an insurance premium - you cannot afford to go without them in any year.”

VCCircle has now brought together his key perspectives from the “Real Safe Haven” panel in its post-event feature, What Truly Makes an Asset A Safe Haven.

Read the article: https://multi-act.com/what-truly-makes-an-asset-a-safe-haven/

For the wider conversation, watch the full “Real Safe Haven” panel discussion on Multi-Act’s YouTube channel: https://youtu.be/3gtFTFm6Ah8?si=CsNHqeI06NgyZXZB

13/08/2026

Gold tends to get discussed in terms of price, inflation or whether it is likely to outperform. However, this is only one part of the conversation.

Across the families Multi-Act works with, a recurring challenge is deciding what role each asset should play in the overall portfolio, especially when the objective is not just growth, but also preserving purchasing power, retaining liquidity and avoiding too much dependence on a single market outcome.

Gold has been part of our investment discussions for a long time now. Our All Seasons framework, launched in 2015, was built around combining real and financial assets with different economic sensitivities so that the portfolio is not reliant on one economic environment. In 2017, our research team looked more closely at gold again - examining its monetary characteristics, counterparty risk, liquidity and the role it can play across inflationary and deflationary periods.

At the VCCircle Family Office Summit 2026, Vikas Biyani, Associate Director & Portfolio Advisor at Multi-Act, framed the discussion around a more fundamental question:

What allows an asset to function as “real money”?

For families, this shifts the conversation from whether gold will outperform to why it belongs in the portfolio at all.

Related reading:
Why Indian Families Must Invest in Gold and Gold Mining Shares — 12 June 2017: https://multi-act.com/why-indian-families-must-invest-in-gold-and-gold-mining-shares/
5 Reasons Why HNIs Should Invest in Gold — 21 November 2017: https://multi-act.com/5-reasons-why-hnis-should-invest-in-gold/

Watch the full “Real Safe Haven” discussion: https://youtu.be/3gtFTFm6Ah8?si=gqxKmSchRbWWYGXG

The real challenge for a family office is not predicting every market cycle. It is building a portfolio that can live th...
05/08/2026

The real challenge for a family office is not predicting every market cycle. It is building a portfolio that can live through different ones.

“Safe-haven assets form the base on which an all-weather portfolio’s resilience is built.” - Vikas Biyani, Associate Director & Portfolio Advisor, Multi-Act

Watch the full “Real Safe Haven” panel discussion from the VCCircle Family Office Summit 2026 on Multi-Act’s YouTube channel:
https://youtu.be/3gtFTFm6Ah8?si=Jl1qQ14b9K02p6vE

India’s defence story is expanding beyond traditional platforms, opening up opportunities across a much wider aerospace ...
01/08/2026

India’s defence story is expanding beyond traditional platforms, opening up opportunities across a much wider aerospace ecosystem.

But a growing industry does not necessarily translate into equal opportunity across the value chain. Understanding where growth is coming from, how sustainable it may be and how effectively it translates into ex*****on becomes increasingly important.

In this edition of The Scanner, our Advisory Head, Vikas Biyani, and Associate Director, Global Research, Siddhi Gujar, take a closer look at India’s evolving aerospace opportunity from an investment perspective.

Read here: https://multi-act.com/the-scanner-july26-aerospace-the-next-growth-driver-within-indias-defence-story/

Linkedin: https://www.linkedin.com/feed/update/urn:li:activity:7489148345815588864

X: https://x.com/Multi_act/status/2083385407803437485?s=20

Address

10th Floor SC, The Ruby, 29 Senapati Bapat Marg, Dadar West
Mumbai
400028

Opening Hours

Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm
Saturday 9am - 6pm

Telephone

+912261408989

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