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Volatility weighs on fund managers' net worth

Source : BUSINESS_STANDARD
Last Updated: Thu, Sep 29, 2011 19:21 hrs

During the week under review (September 22- 29), concerns about the declining rupee, political uncertainties on the national front and the ability of euro zone officials to tackle the debt crisis, accounted for volatile trades on the bourses. As a result, the net worth of most Smart Portfolios fund managers declined.

AJAY PARMAR, HEAD, INSTITUTIONAL RESEARCH, EMKAY GLOBAL
Parmar has made two transactions so far. His only investments were Den Networks and Insecticides India. His gross purchases totalled Rs 70,000, while his portfolio is now valued at Rs 10,01,000, up 0.14 per cent.

ALEX MATHEWS, HEAD-TECHNICAL AND DERIVATIVES RESEARCH, GEOJIT BNP PARIBAS FINANCIAL SERVICES
In the past week, Mathews made a single transaction where he booked profits of nearly one per cent in NTPC. Mathews likes TCS: “It is the largest IT exporter in India. The latest advance tax number of TCS showed a tremendous jump to Rs 570 crore, compared to Rs 270 crore in the same period last year. The weak rupee and global economic crisis were considered while picking the stock.”

Mathews’ net worth is at Rs 9,94,000, down 0.59 per cent over last week.

ASHISH MITTAL, FUND MANAGER - PMS, CENTRUM WEALTH
Mittal carried out the most number of transactions in the past week among all fund managers. The 20 transactions were on the buy side and totalled Rs 1,20,000. Karur Vysya Bank was his top pick because it was “a proven wealth creator; a thematic play on old private sector banks and a possible acquisition target, as promoters’ stake is just three per cent”. His other favourite picks include Balmer Lawrie, MRF and Bajaj Auto. Mittal’s net worth stands at Rs 9,78,000, down 2.15 per cent over last week.

MEHRABOON IRANI, PRINCIPAL & HEAD – PRIVATE CLIENT GROUP (PCG), NIRMAL BANG SECURITIES
With 13 transactions for the week, Irani’s investments included Allahabad Bank, Educomp Solutions and Sterlite Industries. He booked 12 per cent profit in Educomp Solutions, which was bought earlier. However, he booked losses in Lanco Infratech and IVRCL. “From a trading point-of-view, stocks that go against you need to be cut off. That is exactly why I chose to exit from those stocks. Meanwhile, from a long-term perspective, Educomp Solutions and Financial Technologies are great bets,” said Irani. Irani’s net worth stands at Rs 9,54,000, down 4.61 per cent over last week.

Rikesh Parikh, VP Equity Strategies, Motilal Oswal Securities Parikh made one buy transaction and two sell transactions in the past week. He booked a loss of seven per cent on his investment in Bharat Heavy Elecricals. Comparing it to the previous week’s exits from Cipla and Rural Electrification Corporation, where he booked profits of 8-11 per cent each, Parikh said: “Exiting from Bhel was a calculated move. I work towards booking profits but I also understand that I will book losses too. I’m prepared for it.” Parikh’s net worth, as of now, is valued at Rs 9,92,000, down 0.76 per cent.

For Smart Portfolios, visit www.smartinvestor.in/sp  




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