Popular PMS fund manager Siddhartha Bhaiya, Managing Director and Chief Investment Officer at Aequitas, passed away after suffering a cardiac arrest. He was 47. Aequitas confirmed that Bhaiya died on December 31 while on a family vacation in New Zealand.
Widely known for his sharp market views and early identification of multibagger smallcap stocks, Bhaiya had recently drawn attention for warning that Indian equities were in a “bubble of epic proportions.” The firm described him as the driving force behind Aequitas and said it remains committed to the principles and long-term objectives he built.
Key Takeaways on Siddhartha Bhaiya’s Passing
- Siddhartha Bhaiya passed away at the age of 47 after a cardiac arrest
- He was Managing Director and Chief Investment Officer at Aequitas
- The death occurred on December 31 during a family vacation in New Zealand
- Bhaiya recently warned that Indian equities were in a “bubble of epic proportions”
- Aequitas said it remains aligned with the philosophy and values he established
Passing of a Prominent PMS Fund Manager
Siddhartha Bhaiya, a well-known name in India’s portfolio management services (PMS) space, passed away after suffering a cardiac arrest. The market veteran was 47 years old. Aequitas, where Bhaiya served as Managing Director and Chief Investment Officer, confirmed that he died on December 31 while on a family vacation in New Zealand.
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The firm announced the news in an official statement, expressing deep sadness over the sudden loss. Bhaiya was widely respected in the investment community for his disciplined approach, long-term thinking, and ability to identify high-potential stocks at early stages.
Aequitas Confirms Death, Pays Tribute
Aequitas described Siddhartha Bhaiya as the driving force behind the organisation. In its statement, the firm said he was not only a visionary investor but also a builder of institutions, deeply committed to intellectual honesty, disciplined decision-making, and long-term thinking.
According to Aequitas, Bhaiya’s ability to combine rigorous analysis with clarity of purpose shaped the firm into a distinctive organisation grounded in strong values, robust processes, and a culture of accountability. The firm said many within the organisation learned directly from him, and his influence would continue to guide how the team thinks, acts, and invests.
Firm Says Operations and Philosophy Remain Unchanged
While mourning what it described as an immense personal and professional loss, Aequitas stated that the team remains united in its commitment to the principles Siddhartha Bhaiya stood for. The firm said it continues to work closely together and remains fully aligned with its philosophy and long-term objectives.
Aequitas added that it remains focused on delivering for investors in the manner Bhaiya envisaged, signalling continuity in approach and decision-making following his passing.
Recent Warning on Indian Equity Markets
In December, Siddhartha Bhaiya attended the Moneycontrol Deserv Wealth Summit in Mumbai, where he issued a sharp warning on Indian equity markets. He described the prevailing market conditions as a “bubble of epic proportions,” stating that it was not a healthy bull phase.
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Bhaiya said that headline valuation comfort around the Nifty trading near 20 times earnings was misleading and masked much richer valuations beneath the surface. He argued that a significant part of the Nifty’s low multiple was driven by heavyweight public sector stocks such as SBI, ONGC, NTPC, Coal India, and Power Grid—stocks that most retail portfolios barely hold.
Concerns Over Valuations in Midcaps and Smallcaps
According to Bhaiya, excluding these heavyweight PSU stocks meant that the effective price-to-earnings multiple of what investors actually held was well above 40. He also noted that valuation multiples in midcap and smallcap stocks had climbed beyond 50.
He said this divergence raised concerns about the overall health of the capital market and challenged the perception that valuations were broadly reasonable.
SIP Flows and ‘Systematic Wealth Transfer’ Remark
Commenting on the current SIP-driven market dynamic, Bhaiya described it as “not SIP, but SWT,” which he termed a “Systematic Wealth Transfer from India’s middle class to the rich.”
He stated that steady retail inflows had coincided almost perfectly with promoter selling, adding that the SIP amount had been matched with promoter offloading. According to him, what was being observed was not a healthy bull market or a healthy capital market.
Career Background Before Aequitas
Before joining Aequitas in 2012, Siddhartha Bhaiya worked as one of the youngest fund managers at the PMS division of Nippon India Mutual Fund until 2011. His career trajectory and market insights made him a widely followed voice among investors and market participants.
A Market Voice That Challenged Consensus
Siddhartha Bhaiya’s passing marks the loss of a market professional who consistently questioned prevailing narratives. Known for his emphasis on valuation discipline and capital market health, he remained vocal about risks even during periods of strong optimism. Aequitas’ statement underscores the institutional framework and principles he built, which the firm says will continue to guide its operations. His recent remarks on equity valuations and market structure had sparked wide discussion, reinforcing his role as a contrarian yet data-driven voice in India’s investment landscape.
Life, Death, and Spiritual Awareness
The sudden passing of Siddhartha Bhaiya underscores a broader reality that life and death are uncertain and can occur at any moment. Many spiritual traditions emphasize that this uncertainty is precisely why devotion and spiritual practice are considered essential.
According to spiritual teachings, true devotion helps give purpose to life and prepares the soul beyond physical existence. Scriptures describe a state of liberation where the cycle of birth and death ceases, often referred to as Satlok. In this context, followers believe that guidance from a Tatvdarshi Saint is necessary to understand true devotion. In present times, Tatvdarshi Sant Rampal Ji Maharaj is regarded by His followers as providing such Knowledge. They believe listening to His discourses helps individuals lead a meaningful life and attain spiritual welfare.
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- Website:www.jagatgururampalji.org
- YouTube: Sant Rampal Ji Maharaj
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FAQs on Siddhartha Bhaiya Passing
Q1. Who was Siddhartha Bhaiya?
He was Managing Director and Chief Investment Officer at Aequitas and a prominent PMS fund manager.
Q2. How did Siddhartha Bhaiya die?
He passed away after suffering a cardiac arrest.
Q3. When and where did the incident occur?
He died on December 31 while on a family vacation in New Zealand.
Q4. What was Bhaiya’s recent view on Indian markets?
He called Indian equities a “bubble of epic proportions” and questioned valuation comfort.
Q5. What did Aequitas say after his death?
The firm said it remains aligned with his principles and focused on long-term objectives.
