Gibraltar · Est. 2019

Wealth Preserved.
Wisely Grown.

A private investment vehicle built on 44 years of family stewardship, scientific asset allocation, and the uncompromising philosophy of compounding.

Precision Portfolio Enquire

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Years of Experience

97%

Family Assets Co-Invested

4^th

Generation Stewardship

Entry, Exit or Lock-up Fees

Letter from the CEO

A Message of Transparency

Allow me to introduce myself. I am Chandru Mahtani, the CEO and Head Investment Director of Inner Circle. There are seven questions you need answered before you invest with anyone. Please read on — it will give you the criteria to evaluate any offering you receive, from us or from others.

I have been investing our family assets for 44 years. Our family started in business in 1893. I am the third generation; my son, Amir Krishna, is the fourth — a family known for fiscal prudence, honour, and success.

97% of my own assets are invested identically to our members’ portfolios. No man is more careful than when he is dealing with his own money.

Our Investment Strategy →

Due Diligence

Seven Questions You Must Ask

Before entrusting your assets to any manager, demand honest answers to these seven questions. We answer them plainly.

01How long have you been doing this?

I have been investing our family assets for 44 years. There is a saying: if you work and study for 10,000 hours you become an expert. I have been doing this in depth for more than 99,000 hours. I have seen markets rise and fall and everything in between. Our family started in business in 1893 — a steady hand and a knowing mind, refined across generations.

02How successful has your investment formula been?

In banking terms, my personal asset size places me at the pinnacle of what is defined as an ultra-high-net-worth individual — achieved through the same investment philosophy used in Inner Circle. There is a fundamental question: if a man has not been able to make himself rich, how can he make someone else? Our performance record speaks for itself.

03How much will you be charging me?

Inner Circle is now closed for new subscriptions. For existing members, there are no entry fees, no exit fees, and no lock-up periods. This is precisely how our own portfolio functions — because we are invested alongside you, our interests are perfectly aligned with yours.

04Why do I need a professional manager?

For two critical reasons. First: when markets rise, disciplined rebalancing ensures you perpetually sell high and buy low — 90% of portfolio growth comes from asset allocation, not stock-picking. Second: when markets fall, the greatest error is selling out and cementing losses. Markets have recovered from every correction since 1820. The individual investor loses 95% of the time. A steady professional hand makes all the difference. Investing is a science as well as an art — no different from piloting an aircraft without proper training.

05Why did we establish Inner Circle?

For decades I guided friends and family to sound returns through advice alone. Due to persistent requests, I established Inner Circle — now closed for subscription — to allow persons of my choice to enter. Our philosophy is rooted in compounding, dividend reinvestment, and wise, scientifically-based asset allocation. It is the difference between knowing your money works for you, versus sporadic investments driven by banker incentives.

06How much do you have invested?

97% of my personal assets are invested in exactly the same manner as Inner Circle. No entry fee, no exit fee, no lock-up — because this is how my family portfolio has always worked. There is absolutely no leverage and no loans. The financial health of my family and yours is paramount. No alignment of interest is more powerful than a manager who stands to lose alongside you.

07How good are you?

Our cautious approach and wide diversification across debt instruments, equities, and mutual funds — refined over 44 years and tested across multiple market cycles — makes us the standout winner in risk-adjusted returns. We do not chase momentum. We do not leverage. We compound patiently. Our performance record provides the evidence.

Investment Philosophy

Three Pillars of Enduring Wealth

The Power of Compounding

Every reinvested dividend, every disciplined rebalancing — compounding into extraordinary wealth across decades. Einstein called it the most powerful force in the universe.

Scientific Asset Allocation

90% of performance comes from allocation. We maintain precise frameworks across ~40 global index funds that capture growth while protecting capital.

Zero Leverage Philosophy

No loans. No leverage. No speculation. A foundation of fiscal integrity protecting family wealth since 1893.

Can you imagine how you would feel 10 years from now if you do not take advantage of this? It is the difference between knowing that you have wisely deployed your money, as opposed to sporadic investments.

— Chandru Mahtani, Founder & CEO

Strategy

Precision Portfolio

Forty index funds · Five thousand positions · One mechanism

The magic is in the mix. We invest globally across approximately 5,000 stocks held in approximately 40 index funds — so you have a team of 5,000 CEOs working to grow your portfolio.

Most investors invest locally in the markets they know and in names they understand. This way they get caught in the cycles of local economies, and when growth falters it damages the portfolio. Our investment technique is investing globally — America, Europe and Emerging Markets — so that you are exposed to world growth in its entirety. Unlike others who choose individual stocks, we invest across approximately 40 index funds with low correlation to each other. When one is going up the other is going down — and in the end you get a fine overall return. This is like a see-saw: the skill lies in finding the opposing pairs so that when one is down, the other is up.

This formula has been tested and run on our own portfolio. Bear in mind that absolutely no loans or leveraging is used, because if you invest well, you get great returns without having to take undue risk.

The Parable of the Man & the Dog

A man is walking steadily from one end of the park to the other. His hand holds a leash attached to a dog, whose course is anything but steady — darting left and right, lunging at a pigeon, leaping at his master. The man continues forward, only glancing at his watch on occasion. The dog is frantic, careening back and forth, but ultimately ends up heading in the same direction as the man. Most people are watching the dog and not the man. The man is your investment portfolio. The dog is the market. In the end it is irrelevant what the dog does — the man gets to his destination. You give it time, let the power of compounding add to the sum, roll the dividends in, and you end up with a glorious figure.

To make the portfolio even more effective, besides the compounding, the time factor, and the rolling in of dividends, there is the annual rebalancing of the approximately 40 funds. If emerging markets have outperformed Europe, instead of making the typical investor’s mistake of putting more money into the growing sector, we sell the portion that has grown to restore the original correlation. This means you sell high and buy low — automatically, systematically, every year. This adds up to handsome earnings without taking on additional risk.

By having such a wide investment footprint of almost 5,000 products it means that there will be winners and losers — but the growth of the winners will be so high that you get a good return. Individual stock-picking has been proven impossible: in 1987, the best computer companies were IBM and Hewlett-Packard, and Apple was an irrelevant footnote. In today’s market, the combined value of IBM and Hewlett-Packard is a small fraction of Apple’s market capitalisation. Should you hold the entire segment, you achieved the great growth because you held everything. It is like going to a racecourse and betting on every horse that is running — one of them is bound to win. And when you bet on all, you definitely have the winners within your Inner Circle.

If there are any points that are not clear, please remember that it is the work of your investment adviser to understand this and not you. He is the one with 44 years of experience. It is like flying first-class with a competent pilot with many years of experience and a flawless safety record. You are there to enjoy the journey while he flies you safely to your destination.

“Stay invested so compounding can grow your money.”

Track Record

Precision Performance

$1M

Start Balance

$5.99M

End Balance

13.64%

Annualised Return

None

Leverage or Loans

The results below reflect USD 1,000,000 invested in January 2012, carried through to December 2025 — fourteen years, with zero leverage.

Inner Circle — Precision Performance 14 Years · 2012 – 2025

USD 1,000,000 invested January 2012 → December 2025

Performance Summary
Start Balance	$1,000,000
End Balance	$5,991,954
Annualised Return (CAGR)	13.64%
Standard Deviation	12.52%
Best Year	29.13%
Worst Year	−16.72%
Maximum Drawdown	−21.96%
Sharpe Ratio	0.96
Sortino Ratio	1.53

The graph above shows an indicative backtested performance of the Investment Director’s strategy from January 2012 to December 2025. Backtested results do not include all expenses and fees, and are not a reliable indicator of future returns.

Get in Touch

Reach Inner Circle

Inner Circle is currently closed for new subscriptions. For enquiries from existing members or qualified investors, please reach out directly.

Address

Apartment 409, Lake City Tower
Cluster D, Jumeirah Lake Towers
Dubai, UAE

Jurisdiction

Inner Circle
Gibraltar, British Overseas Territory

info@innercircle.gi

Wealth Preserved.Wisely Grown.