Benchmark takes a knock

Last Updated: Thu, Jul 14, 2011 19:10 hrs

Fund managers Shishir Bajpai and Vinay Khattar were seen as very active in the week under review. As markets turned volatile, they were quick to churn their portfolios at every opportunity. Both collectively executed 52 trades in the last five trading days, and clocked a turnover of Rs 28.24 lakh.

Interestingly, both continue to beat the benchmark S&P CNX 500 index, portfolio returns, by a wide margin. The Smart Portfolios benchmark net worth has once again dropped below the initial corpus (Rs 10-lakh mark) to Rs 9.97 lakh, down 0.25 per cent. Meanwhile, Bajpai’s net worth has soared to Rs 13.98 lakh, up 38.25 per cent, and Khattar, too, has recorded stellar returns of 34.66 per cent at Rs 13.47 lakh. Ajay Parmar’s net worth is valued at Rs 10.32 lakh, up 3.17 per cent.

Shishir Bajpai was most active, with 41 off the 52 trades to his credit. He bought shares worth Rs 10.32 lakh, and sold stocks worth Rs 10.15 lakh. He was quick to lock-in significant gains in some of his investments like SKS Microfinance, Titan, Jubilant Foodworks, in the range of 5-20 per cent each. However, Bajpai did incur notable losses in select investments like Firstsource Solutions, Reliance Broadcast and A2Z Maintenance. Apart from Delta Corp, rest were acquired. His major corpus is now invested in Gitanjali Gems, Reliance Industries, Pantaloon Retail, ICICI Bank, Development Credit Bank and Prime Focus. Bajpai’s investments are valued at Rs 11.67 lakh, and he holds Rs 2.15 lakh cash.

Vinay Khattar executed 11 trades, mostly buy-side. He was a net buyer of stocks worth Rs 2.36 lakh, with gross purchases of Rs 5.07 lakh. Khattar exited from Bhushan Steel, Bajaj Electrical and C Mahendra Exports, for losses in the range of three to four per cent each. His notable buys by net worth are Jumbo Bag, TTK Prestige and Prime Focus. On having deployed fresh cash, his cash bank has dropped to Rs 8,000, and investments are valued at Rs 13.39 lakh.

Ajay Parmar continued to remain on the sidelines. His investments are valued at Rs 9.20 lakh, and his cash levels are Rs 1.12 lakh. Despite the near two per cent fall in the benchmark net worth, Parmar’s portfolio saw a 0.5 per cent appreciation.

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