Top performing AIF in FY24 Gold & Silver Miners Fund up ~100% in 7 months
A boutique fund built on
conviction, not consensus.
Rational is an investment house with a singular focus: identifying global mega-trends and durable mispricings in the system, then holding them long enough for compounding to do its work. We invest alongside our investors and structure our economics so we only make money when they do.
Rational thinking.
Exceptional returns.
Three strategies. One philosophy.
Rational ranks among the top asset management companies in India, offering specialized products strategically constructed to maximize returns through deep insights and a research-driven approach and align manager incentives with investor outcomes.
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Join a community of investors who trust us with their long-term wealth creation journey.
Our Team
Our team of dedicated talent.
Vivek Iyer
Chief Investment Officer
Vivek is the Founder and Partner at Rational - With over 10 years of experience in investment management and prior to that leading two start-ups, Vivek founded Rational with the aim of providing other investors the same opportunity of compunding wealth through dedicated capital allocation as he would create for himself. Vivek is diligent about creating opportunities for investors, is principled about safeguarding capital and compounding without unnecessary risks.
Vishal Iyer
Fund Manager & Head of Research
Vishal is a Partner at Rational - With over 12 years of experience in investment management across both sell and buy side, Vishal brings with him a deep & rich understanding of equities, commodities & credit. Vishal has spent time with JP Morgan and RBC BlueBay creating a solid foundation of building thesis in assets and equities based on deep research, discplined process and pursuit of less-known opportunities
Vikram Advani
Chief Business Officer
With over 20 years of experience in the financial services industry, Vikram is among the most seasoned professionals in India's asset management space. He has held leadership positions at some of the country's largest financial institutions, including Aditya Birla AMC and Old Bridge where he led sales and distribution and built a strong book for them. Vikram is taking Rational to its next level of growth while maintaining long-term partnerships with clients keeping an investor-first philosophy.
Vivek Iyer
Chief Investment Officer
Chief Investment Officer
Vivek is the Founder and Partner at Rational - With over 10 years of experience in investment management and prior to that leading two start-ups, Vivek founded Rational with the aim of providing other investors the same opportunity of compunding wealth through dedicated capital allocation as he would create for himself. Vivek is diligent about creating opportunities for investors, is principled about safeguarding capital and compounding without unnecessary risks.
Vishal Iyer
Fund Manager & Head of Research
Fund Manager & Head of Research
Vishal is a Partner at Rational - With over 12 years of experience in investment management across both sell and buy side, Vishal brings with him a deep & rich understanding of equities, commodities & credit. Vishal has spent time with JP Morgan and RBC BlueBay creating a solid foundation of building thesis in assets and equities based on deep research, discplined process and pursuit of less-known opportunities
Vikram Advani
Chief Business Officer
Chief Business Officer
With over 20 years of experience in the financial services industry, Vikram is among the most seasoned professionals in India's asset management space. He has held leadership positions at some of the country's largest financial institutions, including Aditya Birla AMC and Old Bridge where he led sales and distribution and built a strong book for them. Vikram is taking Rational to its next level of growth while maintaining long-term partnerships with clients keeping an investor-first philosophy.
Built MILESTONE by milestone
Over a decade of investing, distilled into a fund that allocates your capital in the best opportunities.
Rational Family Office Launched
Entire real estate portfolio moved to Indian equities in 4–5 months at the pandemic bottom.
AIF Journey Begins
Launched India Long Only Flagship Fund at a market bottom. 100% deployed on Day 1 with high skin in the game.
Gold & Silver Miners Spotted
Deep macro analysis of US economy, gold purchases, fundamental demand for silver and miners balance sheet led to personal investment in gold and silver miners, far ahead of consensus.
Top Performing AIF in India
Delivered 80% post- tax return. Ranked #1 AIF in India for FY24.
First GIFT City Fund
Launched GIFT City Fund for global investors in Gold & Silver Miners. ~79% 1-year return.
80% on Miners' Fund
Delivered 80% pre- tax, post fee return on the Miners' Fund.
An Investor-First Structure, by Design.
Three principles that shape every decision we make — from how we invest to how we get paid.
Impeccable Capital Allocation
Agility and foresightedness to identify the prime asset class, market & product to provide the highest returns to you. We don't anchor to one market — we go where the opportunity is greatest.
"We allocate to the best opportunity, wherever it lives."
High Skin in the Game
We always begin funds by moving our own personal wealth into the same assets. So when we advise you to invest, it means we have already invested our own net worth in it. Our incentives are identical to yours.
"We only ask you to go where we've already gone."
Investor-Aligned Fee Structure
We create structures which help us benefit only when you benefit. We aren't playing the fee game — we are in the compounding game. No fixed fees. No quarterly charges. Pure performance alignment.
"We make money only when you make money."
Impeccable Capital Allocation
Agility and foresightedness to identify the prime asset class, market & product to provide the highest returns to you. We don't anchor to one market — we go where the opportunity is greatest.
"We allocate to the best opportunity, wherever it lives."
High Skin in the Game
We always begin funds by moving our own personal wealth into the same assets. So when we advise you to invest, it means we have already invested our own net worth in it. Our incentives are identical to yours.
"We only ask you to go where we've already gone."
Investor-Aligned Fee Structure
We create structures which help us benefit only when you benefit. We aren't playing the fee game — we are in the compounding game. No fixed fees. No quarterly charges. Pure performance alignment.
"We make money only when you make money."
What Our Investors Say
Trusted by thousands of investors across India for disciplined wealth creation.
“The fund managers at Rational are truly exceptional. They understand market dynamics and have consistently delivered superior returns even in volatile markets. I have never felt more confident about where my wealth is being deployed.”
Priya Sharma
Family Office . Delhi
“What truly sets Rational apart is that they invest their own money alongside mine. That alignment of interest is rare in the industry and gives me complete peace of mind. The 80% post-tax return in FY24 spoke for itself.”
Amit Patel
HNI Investor · Bangalore
“Rational spotted the Gold & Silver Miners opportunity well before the market consensus shifted. That kind of foresight — backed by genuine research and conviction — is exactly what you want managing your capital.”
Rajesh Kumar
Entrepreneur · Mumbai
“No fixed fees, no fluff — just performance. I appreciate the rational and research-driven approach. No hype, just solid macro thinking and long-term value creation. Their Thought Centre alone is worth following.”
Vikram Singh
Angel Investor · Hyderabad
“Rational managed to deliver exceptional returns precisely because they are willing to think differently — moving capital to global miners when everyone else was crowded into Indian equities. Conviction over consensus, always.”
Suresh Mehta
CFO · Pune
“The fund managers at Rational are truly exceptional. They understand market dynamics and have consistently delivered superior returns even in volatile markets. I have never felt more confident about where my wealth is being deployed.”
Priya Sharma
Family Office . Delhi
“What truly sets Rational apart is that they invest their own money alongside mine. That alignment of interest is rare in the industry and gives me complete peace of mind. The 80% post-tax return in FY24 spoke for itself.”
Amit Patel
HNI Investor · Bangalore
“Rational spotted the Gold & Silver Miners opportunity well before the market consensus shifted. That kind of foresight — backed by genuine research and conviction — is exactly what you want managing your capital.”
Rajesh Kumar
Entrepreneur · Mumbai
“No fixed fees, no fluff — just performance. I appreciate the rational and research-driven approach. No hype, just solid macro thinking and long-term value creation. Their Thought Centre alone is worth following.”
Vikram Singh
Angel Investor · Hyderabad
“Rational managed to deliver exceptional returns precisely because they are willing to think differently — moving capital to global miners when everyone else was crowded into Indian equities. Conviction over consensus, always.”
Suresh Mehta
CFO · Pune
Notes from the Desk.
Long-form views on markets, philosophy, and the businesses we own.
June 10, 2026
The Case for $140 Brent by August 2026
100 days in, the Strait of Hormuz is still shut. The inventory model is the most mispriced it has ever been. Here is the case, point by point. On May 27, one tanker crossed the Strait of Hormuz. The pre-war baseline was 50 per day. The world lost 16.4 mb/d of supply in May alone. That is larger than the combined output of Russia and Saudi Arabia. And the market, which briefly touched $120 in April before retreating to $85 on demand destruction headlines and deal optimism, has spent the last six weeks convincing itself this resolves cleanly and quickly.
June 9, 2026
Peak profits, peak divergence, and an oil shock the market hasn't priced in
Markets Recorded the Deepest Large-Midcap Divergence in Two Decades Nifty Midcap 150 at an All-Time High while Nifty 50 is −9.2% from its peak — the only prior comparable episode (Aug 2015) ended with both indices down 18% in lockstep. The mid-tier offered no safe harbour.
May 21, 2026
Playbook for surviving $100+ oil
Market Overview: No end in sight With Hormuz still closed and oil likely to sustain at $100/bbl in the medium term, the macro setup for India remains uncomfortable despite the strong quarter for earnings.
