Torrid markets, diverse strategies

Last Updated: Thu, Jan 27, 2011 20:20 hrs

As the markets faced a torrid time in the recent past, Smart Portfolios, too, passed through a rough patch. However, it has been a 50:50 case so far, with two fund managers managing to beat the benchmark and the other two underperforming. In fact, along with the benchmark S&P CNX 500 index portfolio value, the corpus of two fund managers is now below the initial level of Rs 10 lakh. The third season of Smart Portfolios is now five months old, and one needs to stay tuned to see how the fund managers recoup their losses and get even with the markets. The benchmark portfolio value is now down 0.5 per cent at Rs 9.95 lakh.

Ajay Parmar, head, Research Institutional Equities, Emkay
Ajay Parmar’s net worth declined 1 per cent in the last two weeks, even as the benchmark net worth dropped 2.7 per cent. However, the 1 per cent fall was enough to see Parmar’s net worth slip below the Rs 10 lakh mark. Parmar has 15 stocks in his portfolio, of which, sugar stocks like Balrampur Chini, Bajaj Hindusthan and Shree Renuka Sugars are major laggards, coupled with Gitanjali Gems and Manali Petrochemical. On the positive front, Parmar still has Rs 2.84 lakh in cash. It would be worth watching the timing of his next investment.

Shishir Bajpai
Senior vice president, IIFL Private Wealth
After getting off to a flying start, Shishir Bajpai refuses to let his portfolio get hit by the market correction. He has been actively churning his portfolio in tune to the market liking. Off late, he cashed in the banking rally and exited from SBI and ICICI Bank, for a gain of 4.6 per cent and 5.8 per cent, respectively. He also exited from Power Grid for a marginal loss of 0.8 per cent. His fresh buys are Cairn India, Reliance Industries and Pantaloon Retail. Bajpai is currently cash rich with Rs 9.95 lakh, while his net worth is up 31.7 per cent at Rs 13.17 lakh. In the last two weeks, he has suffered a net loss of 2 per cent.

Siddharth Bhamre
Head, Equity Derivatives, Angel Broking
Siddharth Bhamre’s patience and conviction seems to be getting tested with the market’s slide. Bhamre, who is fully invested, has a portfolio of 20 stocks. Hindustan Construction, Unitech, IVRCL Infrastructure, Patel Engineering, Century Textiles, Kingfisher Airlines and JK Tyre are some of the major laggards, down 31-43 per cent each. Barring 3i Infotech and Reliance Industries, which are down 3.4 per cent and 9 per cent, the balance stocks in Bhamre’s portfolio are all down over 10 per cent. In the last two weeks, he suffered a net loss of 9.2 per cent, and his net worth is now down 15.6 per cent at Rs 8.44 lakh.

Vinay Khattar
Head, Research, WAIS, Edelweiss
Having exited almost his entire portfolio at the end of the 2010 calendar year, proved to be a decisive move by Vinay Khattar. With just two stocks in his portfolio, of which, one turned out to be a net gainer in the last two weeks, saw him log gains of 0.4 per cent in the same period. Khattar holds eClerx Services and Shree Renuka Sugars both of them are down 4.8 per cent and 11.4 per cent, respectively. He now holds Rs 9.33 lakh as cash, and his next move too will be closely watched to see if his re-entry in stocks too turn out to be as successful as his exit timing.

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