Jain, Padwal-Desai are BS Fund Managers of the Year

Last Updated: Fri, Dec 07, 2012 07:40 hrs

pHDFC MF&rsquos Prashant Jain and Franklin Templeton AMC&rsquos Sachin Padwal-Desai have been chosen the Business Standard Fund Managers of the yearppWhile Jain who is executive director and chief investment officer won the award in the equity space for the second year in a row Padwal-Desai fund manager and vice-president fixed income made his maiden entry at the top in the debt categoryppThe two winners were selected by a jury comprising G N Bajpai former chairman of Sebi and LIC Rajeev Gupta Ex-Carlyle India MD and founder & MD of Arpwood Capital Vibhav Kapoor group chief investment officer IL&FS and Ashvin Parekh partner national leader global financial services Ernst & Youngpp Among the various parameters and filters the weighted average Sharpe ratio as well as a threshold size were adopted to decide on the winners The former takes into account the size of assets managed by the fund manager in relation to the total assets in the category The jury&rsquos decision-making process as well as the two Fund Managers of the Year feature in the annual issue of Fund Manager a 16-page special tabloid distributed free with today&rsquos editionppWhile Jain continued his investments in the defensive space FMCG with quality scrips ITC HUL which helped bring in steady gains specific picks Tata Motors DVR Zee Entertainment across a few sectors boosted his portfolio returns However the going was not easy Jain says &ldquoThe outperformance has been moderate with exposure to public banks impacting adversely&rdquoppThe debt category too had its share of worries given a difficult policy environment and uncertain interest rates While rivals focused on gilt funds hoping of a rate cut Padwal-Desai looked at corporate bonds instead and reaped the rewards without getting too aggressive He says &ldquoWe were careful in avoiding undue credit risk in our portfolios&rdquop

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