Disclosure Document

This Disclosure Document provides essential information about LLama Research LLP and its Investment Advisory Services. Its objective is to enable prospective and existing clients to make an informed decision before engaging our services.

Background & Philosophy

LLama Research LLP is a SEBI-registered Investment Adviser providing goal-based, research-driven investment advice. Our philosophy is built on Growth and Quality at a Reasonable Price (GQRP), rooted in the thinking of Peter Lynch, Charlie Munger, and Ralph Wanger.

Our proprietary data-driven framework blends fundamentals with timing discipline, ensuring that client portfolios are structured for both resilience and opportunity.

We align our interests with those of our clients by:

• Understanding each client’s risk profile, goals and return expectations.
• Designing asset allocation strategies suitable to their needs.
• Conducting periodic reviews and recommending corrective actions when necessary.

LLama Research provides non-discretionary investment advisory services only. Clients take investment decisions at their own risk based on advice provided.

Fees, tenure, and service terms are governed by the Investment Advisory Agreement executed between LLama Research and each client.

No action has been taken against LLama Research LLP or its Principal Officer by SEBI or any other regulatory authority since registration.

We comply with Regulation 19(3) of the SEBI (Investment Advisers) Regulations, 2013 relating to annual compliance audits.

LLama Research LLP has no affiliations with any intermediaries such as stockbrokers, portfolio managers, or distributors.

We operate as an independent advisory entity.

LLama Research does not receive remuneration, compensation, or any other form of consideration from product issuers for advisory services.

We do not recommend brokers or intermediaries and have no commission-sharing arrangements.

LLama Research LLP and its partners may hold positions in financial securities outside the recommended list. Where overlap exists with recommended securities, prior disclosure is made to clients.

We maintain independence by avoiding broking, distribution and third-party commission activities.

Any potential conflict of interest arising from proprietary positions or research coverage will be disclosed transparently to clients.

• No Guaranteed Returns: Investments are subject to market risks.
• Past ≠ Future: Historical performance does not indicate future outcomes.
• Market Risks: Portfolio NAVs may fluctuate.
• Equity Risks: Stock values may decline.
• Debt Risks: Interest rate, credit and reinvestment risks apply.
• Commodity & Derivatives Risks: May add volatility and amplify gains/losses.
• External Risks: Government actions, wars, disasters and regulations may impact returns.

Clients are advised to review product documents, fact sheets and risk disclosures available on SEBI, NSE and BSE websites before investing.

All client information is treated with strict confidentiality and will not be shared without prior consent, except where required by law or regulation.