🎯 Hidden Alpha - Fund Manager Investment Tracker

Discover where India's top fund managers invest their own money

Hidden Alpha tracks personal investments made by India's top 33 fund managers in their own mutual fund schemes. When fund managers invest their personal wealth in the funds they manage, it demonstrates strong conviction and alignment with investor interests - the ultimate "skin in the game" indicator.

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✨ Features

• 📊 33 Top Fund Managers - Track personal investments across 21 AMCs
• 💰 ₹6,456+ Lakhs - Total personal wealth invested and verified
• 🔍 Two View Modes - Individual manager view & grouped by AMC
• ✅ 100% Verifiable - All data sourced from official SEBI & AMC documents
• 🎨 Interactive Dashboard - Beautiful dark-themed UI with filtering
• 📋 Complete Transparency - Direct links to SAI documents for verification
• 🔄 Regular Updates - Easy to update with latest disclosures

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🚀 Quick Start

Prerequisites

• Python 3.8 or higher
• pip (Python package manager)
• Git

Installation

# Clone the repository
git clone https://github.com/abhitsian/hidden-alpha.git
cd hidden-alpha

# Run the setup script (installs dependencies)
chmod +x setup.sh
./setup.sh

# Generate the dashboards
python3 run_all.py

That's it! The dashboards will open automatically in your browser.

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📖 Detailed Installation

Option 1: Automatic Setup (Recommended)

# Clone
git clone https://github.com/abhitsian/hidden-alpha.git
cd hidden-alpha

# Setup and run
./setup.sh
python3 run_all.py

Option 2: Manual Setup

# Clone the repository
git clone https://github.com/abhitsian/hidden-alpha.git
cd hidden-alpha

# Create virtual environment (recommended)
python3 -m venv venv
source venv/bin/activate  # On Windows: venv\Scripts\activate

# Install dependencies
pip install -r requirements.txt

# Generate dashboards
python3 hidden_alpha.py              # Individual view
python3 hidden_alpha_grouped.py      # Grouped by AMC
python3 generate_sources_page.py     # Sources page

# Open dashboards
open reports/hidden_alpha.html
open reports/hidden_alpha_grouped.html

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🎨 Available Dashboards

1. Individual View (hidden_alpha.html)

All 33 fund managers in one view with:

• Sort by personal investment, performance, or experience
• Filter by conviction level
• Search by name, AMC, or specialty
• Interactive cards with complete data

Best for: Finding top investors and comparing across all AMCs

2. Grouped by AMC (hidden_alpha_grouped.html)

Fund managers organized by their mutual fund:

• AMC-level statistics
• Compare managers within same organization
• See which AMCs have strong conviction culture
• Verify entire AMC at once

Best for: Understanding organizational commitment patterns

3. Data Sources (data_sources.html)

Complete verification page with:

• SEBI regulations and circulars
• Links to all 19 AMC disclosure pages
• Step-by-step verification guide
• Sample SAI disclosure format

Best for: Verifying data independently

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📊 Top Fund Managers by Personal Investment

Rank	Manager	AMC	Investment	Conviction
1	Rajeev Thakkar	PPFAS	₹700.00L	Very High
2	Raj Mehta	PPFAS	₹385.40L	Very High
3	R. Srinivasan	SBI MF	₹320.75L	Very High
4	Raunak Onkar	PPFAS	₹298.60L	Very High
5	Vetri Subramaniam	UTI	₹285.70L	Very High

PPFAS (Parag Parikh) has 3 of the top 4 investors!

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🏢 Top AMCs by Total Manager Investment

Rank	AMC	Managers	Total Investment
1	PPFAS (Parag Parikh)	3	₹1,384.00L
2	ICICI Prudential	4	₹778.50L
3	UTI Asset Management	2	₹554.60L
4	HDFC AMC	3	₹482.60L
5	SBI Mutual Fund	2	₹456.55L

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📂 Project Structure

hidden-alpha/
├── README.md                        # This file
├── requirements.txt                 # Python dependencies
├── setup.sh                        # Automated setup script
├── run_all.py                      # Generate all dashboards
├──
├── Core Scripts
├── hidden_alpha.py                 # Individual view generator
├── hidden_alpha_grouped.py         # Grouped view generator
├── generate_sources_page.py        # Sources page generator
├──
├── Data & Configuration
├── hidden_alpha_data.py            # 33 fund manager dataset
├── funds_config.py                 # Top 10 AMC data
├── data_sources_config.py          # Source links & SEBI regs
├──
├── Utilities
├── scraper.py                      # Web scraping tools
├── main.py                         # Original tracker
├── quick_start.py                  # Quick dashboard generator
├──
├── Generated Reports
├── reports/
│   ├── hidden_alpha.html           # Individual view dashboard
│   ├── hidden_alpha_grouped.html   # Grouped view dashboard
│   └── data_sources.html           # Verification page
├──
├── Data Storage
├── data/                           # Scraped data (gitignored)
│   ├── all_funds_data.json
│   └── sid_documents/
└──
└── Documentation
    ├── HIDDEN_ALPHA_README.md      # Detailed documentation
    ├── SOURCE_ATTRIBUTION_SUMMARY.md
    ├── GROUPED_VIEW_SUMMARY.md
    └── CONTRIBUTING.md

---

🔧 Usage

Basic Usage

# Generate all dashboards at once
python3 run_all.py

# Generate individual components
python3 hidden_alpha.py              # Individual view
python3 hidden_alpha_grouped.py      # Grouped by AMC
python3 generate_sources_page.py     # Sources page

Advanced Usage

# Import and use the data programmatically
from hidden_alpha_data import FUND_MANAGERS

# Find high conviction managers
high_conviction = [
    fm for fm in FUND_MANAGERS
    if fm['skin_in_game_rating'] in ['High', 'Very High']
]

# Get PPFAS managers
ppfas_managers = [
    fm for fm in FUND_MANAGERS
    if 'PPFAS' in fm['amc']
]

# Calculate statistics
total_investment = sum(
    fm['personal_wealth_invested_lakhs']
    for fm in FUND_MANAGERS
)

Update Data

To update with latest fund manager investments:

1. Check latest SAI documents from AMC websites
2. Update hidden_alpha_data.py with new amounts
3. Regenerate dashboards: python3 run_all.py

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📋 Data Sources

All data is sourced from official regulatory filings:

Primary Sources:

• SEBI Circulars: Official regulations mandating disclosure
• SAI Documents: Statement of Additional Information from each AMC
• AMFI Portal: Central repository for mutual fund data
• AMC Websites: Individual fund house disclosures

Regulatory Basis:

• SEBI Circular: SEBI/HO/IMD/IMD-RAC-2/P/CIR/2023/000175
• Effective Date: June 1, 2024
• Requirement: Disclosure of personal investments by fund managers

Verification:

Every fund manager card includes links to:

• SAI Document (official disclosure)
• AMFI Portal page
• Complete sources page

All data is 100% verifiable from official sources.

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🤝 Contributing

We welcome contributions! Here's how you can help:

Adding New Fund Managers

1. Fork the repository
2. Add fund manager data to hidden_alpha_data.py
3. Add AMC source links to data_sources_config.py (if new AMC)
4. Test by running python3 run_all.py
5. Submit a pull request

Updating Existing Data

1. Check latest SAI documents
2. Update amounts in hidden_alpha_data.py
3. Update last_verified dates
4. Submit pull request with source references

Feature Requests

• Open an issue describing the feature
• Tag it as "enhancement"
• Provide use case examples

See CONTRIBUTING.md for detailed guidelines.

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📊 Statistics

• 33 Fund Managers tracked
• 21 AMCs represented
• ₹6,456.05 Lakhs total personal investment
• ₹50.61 Lakh Crores combined AUM
• 100% verifiable from official sources

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🎯 Use Cases

For Investors:

• Find high-conviction managers: See who puts their money where their mouth is
• Verify alignment: Check if managers invest in funds they recommend
• Compare AMCs: Identify which organizations have strong conviction culture
• Make informed decisions: Use conviction as an additional selection criterion

For Researchers:

• Study patterns: Analyze correlation between personal investment and performance
• Track changes: Monitor how manager investments change over time
• AMC analysis: Understand organizational culture through employee investments
• Data validation: Cross-reference with official sources

For Developers:

• Build tools: Use the dataset for analytics applications
• Create visualizations: Generate charts and insights
• Integrate data: Connect with other financial data sources
• Automate tracking: Set up monitoring for disclosure updates

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⚠️ Disclaimer

IMPORTANT: This tool is for research and educational purposes only.

• ✅ Data sourced from official SEBI & AMC disclosures
• ✅ All sources linked for independent verification
• ❌ Not investment advice
• ❌ No guarantee of data accuracy (always verify)
• ❌ Past performance doesn't predict future results

Always consult a qualified financial advisor before making investment decisions.

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📜 License

This project is licensed under the MIT License - see the LICENSE file for details.

What this means:

• ✅ Free to use, modify, and distribute
• ✅ Commercial use allowed
• ✅ No warranty provided
• ✅ Must include original license

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🙏 Acknowledgments

Data Sources:

• SEBI - Regulatory framework
• AMFI - Central data repository
• Individual AMCs - Personal disclosure documents

Research Sources:

• Bajaj Finserv
• Groww
• Pocketful
• Smallcase

Inspiration:

Special thanks to PPFAS (Parag Parikh) for pioneering transparency around fund manager personal investments and making "skin in the game" a priority.

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🔗 Links

• Documentation: HIDDEN_ALPHA_README.md
• Source Attribution: SOURCE_ATTRIBUTION_SUMMARY.md
• Grouped View Guide: GROUPED_VIEW_SUMMARY.md
• Issues: GitHub Issues
• Discussions: GitHub Discussions

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🌟 Star This Project

If you find Hidden Alpha useful, please consider:

• ⭐ Starring the repository
• 🍴 Forking and contributing
• 📢 Sharing with fellow investors
• 🐛 Reporting issues or suggestions

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📧 Contact

For questions, suggestions, or collaboration:

• Open an Issue
• Start a Discussion
• Submit a Pull Request

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🚀 Roadmap

Upcoming Features:

• Automated SAI scraping
• Historical tracking of manager investments
• Email alerts for disclosure updates
• API endpoint for programmatic access
• Mobile-responsive enhancements
• Export to Excel/PDF
• Comparison tools
• Performance correlation analysis

Community Requests:

See Issues for requested features and vote with 👍

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Built with ❤️ for Indian investors

Uncover where India's smartest fund managers invest their own money

⭐ Star • 🍴 Fork • 📖 Docs • 🐛 Issues

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Last Updated: December 22, 2025 Version: 1.0.0 Data As Of: March 2025 (SAI disclosures)