 Options https://economictimes.indiatimes.

com/markets/stocks/ne HIDE ME  Share Tweet Share

SECTIONS ET APPS ENGLISH E-PAPER ET PRIME FOLLOW US

News

New
Home Markets Stocks IPOs/FPOs Markets Data Market Moguls Expert View Technicals Commodities Forex Mobile Apps More

Dons of Dalal Street News Live Blog Recos Earnings Podcast Market Paathshala Announcements Policy Market Calendar Stock Price Quotes

ET Home › Markets › Stocks › News › Smaller fund managers beating bigger peers hands down in a tough market Search for News, Stock Quotes & NAV's

SENSEX NIFTY 50 GOLD (MCX) (Rs/10g.) USD/INR Download ET CHOOSE

11:57 AM | 30 MAY CREATE LANGUAGE
PORTFOLIO MARKETS APP
MARKET STATS 34,830 -118.74 10,592 -41.55 31,024 -164.00 67.57 -0.30 ENG

Smaller fund managers beating bigger peers

hands down in a tough market Top Trending Terms
By Rahul Oberoi, ETMarkets.com | Updated: May 30, 2018, 10.58 AM IST
Sensex Stock Market Stock Recommendations IPO
Upcoming IPO Gold Rate Top Gainers
Rupee vs Dollar Share Market Silver Price Nifty 50

Money managers overseeing smaller assets are proving to Nifty Bank

be more successful on Dalal Street than their peers

managing large corpuses.

Select fund managers with assets under management

Funds managed by Harsha Upadhyaya
of Kotak Mutual Fund have slipped
over 2 per cent in last six months.
Related
Top fund houses take a big hit with
Manpasand’s slide
Five mutual funds that managed
GST, demonetisation jitters well
Why should a mutual fund investor
appoint a nominee
(AUM) of less than Rs 10,000 crore have outpaced their
peers with bigger assets by a wide gap in last 12 months.
This happened despite feeble sentiment in the domestic Most Read Most Shared Most Commented
equity market in the recent past amid subdued
Modi at 4: Forget the score, check out who gained
macroeconomic trends, sustained FII outflow, a falling & who lost
rupee and rising crude oil prices.
4 years of Modi govt: 8 charts that show why the
euphoria is gone & next big positive missing
Kunal Sangoi, a fund manager for Aditya Birla SL India
IPO market heats up; 3 dozen companies line up
Opportunities Fund and Aditya Birla SL Digital India Fund, Rs 35,000 crore public offers
has managed to deliver an average return of 35 per cent in
Are PSU banks on the cusp of turnaround? Maybe
last one year and 16.38 per cent over past six months. The
some are
comparative figures for the BSE Sensex stood at 13 per
Market’s upside is capped... so is the downside:
cent and 4.65 per cent, respectively.
Nilesh Shah, Kotak Mahindra AMC

More »
Ajay Khandelwal, a fund manager from BOI AXA Mutual Fund, comes next. He looks after
BOI AXA Mid & Small Cap Equity & Debt Fund that delivered nearly 23 per cent, 9 per
cent and 3.5 per cent returns over one year, six months and one-month tenures,
respectively.

His portfolio comprised midcaps and smallcap equity and equity-related securities as well
as fixed income securities. As per last available data, the fund had multibagger stocks like
Dilip Buildon, HEG, Graphite India, Sterlite Technologies and Bhansali Engineering in its
portfolio.

Schemes managed by Dhrumil Shah of Reliance Mutual Fund, Ankit Jain of Mirae Asset
Mutual Fund and Pradeep Gokhale of Tata Mutual Fund delivered an average return of
over 20 per cent in last one year.
Ola’s adventures in being more
than just a ride-hailing firm
Reliance Mutual Fund’s Shah looks after Reliance Capital Builder Fund-IV-D, Reliance
Small Cap Fund and Reliance Capital Builder Fund-IV-C, comprising a total AUM of nearly Manpasand is running out of
Rs 7,500 crore. Jain manages Mirae Asset Great Consumer Fund, while Gokhale handles juice
Tata Hybrid Equity Fund, Tata Ethical Fund, Tata Banking & Financial Services Fund and
Oasis in a dead mall: the
Tata Digital India Fund. Decathlon playbook
Download
→ hide.me VPN for free! X
The Tata Digital India Fund has rallied 48 per cent in last 12 months. GO TO ET PRIME
Other fund managers who managed to deliver over 15 per cent return in last one year
included Ashiwin Jain (ICICI Pru), Daylynn Pinto (IDFC MF), Swapnil P Mayekar (Motilal
Oswal AMC), Shreyash Devalkar (Axis MF), Saurabh Pant (SBI MF), R Srinivasan (SBI
MF), Anup Upadhyay (SBI MF), Varun Sharma (Franklin), Jinesh Gopani (Axis MF).

Mayekar managed a total AUM of over Rs 13,000 crore, whereas Gopani oversaw a
corpus of Rs 22,000 crore.

Funds managed by Raunak Onkar, Rajeev Thakkar and Raj Mehta of PPFAS Mutual
Fund, Varun Sharma of Franklin Templeton Mutual Fund, Samir Rachh of Reliance Mutual
Fund, Alok Singh of BOI Axa Mutual Fund, Rohit Seksaria of Sundaram Mutual Fund,
Chanchal Khandelwal of Birla Sun Life Mutual Fund, Dhimant Kothari of Invesco Mutual
Fund, Hiten Shah of Edelweiss Mutual Fund, Nidhi Chawla of SBI MF and Taher Badshah
of Invesco Mutual Fund also delivered over 15 per cent return to investors in last 12
months.

“We have different strategies for each of our product. For instance, contra is a value
mandate in which we invest in quality stocks, which are available at cheaper valuation. We
prefer firms that are in a turnaround phase or have value-oriented businesses,” Taher
Badshah, Chief Investment Officer of Invesco Mutual Fund, told ETMarkets.com.

Dynamic category schemes are asset allocation funds. “We do allocation between cash
and equities depending on market conditions. Cash component is around 25 per cent in
last one year in dynamic fund. Dynamic is basically more focused on growth stocks. Stock
selection is done through a bottom-up approach in the dynamic category,” he said.

Badshah said in the growth opportunities fund, the team maintained a balanced approach
between growth and value stocks as well as midcaps and largecaps and in terms of
sectoral exposure.

“For midcap and multicap funds, liquidity is a major challenge after the recent correction
and it is not easy to churn portfolio. We are not sitting on any significant cash in midcap
and multicap fund,” he said.

Parag Parikh Long Term Equity Fund has delivered 1.34 per cent, 3 per cent and 17 per
cent returns for past 1 month, three months and one year, respectively – impressive in an
environment where the broader market is facing a lot of headwinds. The scheme delivered
12.33 per cent and 19 per cent annualised returns over 3 years and 5 years, respectively.

“We go for bottom-up stock picking,” said Raj Mehta, Fund Manager, PPFAS Mutual Fund.
“We are looking at companies on an individual basis. We are holding about 23-24 per cent
cash position in our portfolio, which helped us in the recent mid-cap correction. Another
thing that has helped us is geographical diversification. Foreign stocks have done well for
us compared with Indian markets over the past one year and that has added to the
returns,” he said.

Among the big cats, handling large assets, ICICI Pru’s Sankaran Naren, who handles total
AUM of nearly Rs 1 lakh crore, has delivered an average of 11 per cent return in last one
year. His funds on an average have given an annualised return of 10 per cent and 18 per
cent, respectively, over three-year and five-year horizons, respectively.

Funds managed by HDFC Mutual Fund’s star money manager Prashant Jain generated 5
per cent average return in last one year. His funds HDFC Equity Fund, HDFC Hybrid Debt
Fund, HDFC Prudence Fund and HDFC Top 100 have delivered 9.55 per cent and 14.28
per cent annualised returns over three-year and five-year horizons, respectively.

Schemes managed by Birla Sun Life’s Mahesh Patil have delivered an average return of
8.30 per cent in last one year. His funds returned between 4 per cent and 15 per cent in
last four quarters, whereas all of his funds dipped between 0.70-12 per cent in last six
Download hide.me VPN for free! X
months.
ICICI Prudential’s Priyanka Khandelwal manages some Rs 40,000 crore assets across 45
schemes. She delivered an average of 9.55 per cent return in last one year. On an
average, her funds delivered negligible returns in last six months.

Funds managed by Harsha Upadhyaya of Kotak Mutual Fund have slipped over 2 per cent
in last six months.

“Markets are trading at a valuation, which is much higher than where they were trading
historically. To that extent, either time wise correction or value wise correction could
happen. We think at least in largecaps, it would be more of a time-wise correction. It has
already happened for last two-three quarters and could continue for some more quarters,”
he told ETNow in an interaction.

Funds managed by Upadhyaya on an average delivered 11.72 per cent and 18 per cent
annually in last three years and five years, respectively, and advanced 6.7 per cent in last
one year.

“Midcap and smallcap funds where you do not get the comfort of earnings growth can
really correct sharply where valuations are high,” he said in the interview.

Read more on Mutual Funds Multicap Funds Liquidity Midcap Stocks Mutual Fund

Sensex Funds

From Around The Web Sponsored by

15 most beautiful women in Earn profits from premium Tips for dark men to look A perfect date night gift for
the world commercial properties in more stylish your partner
CrazyFreelancer India. MENSXP IDIVA
PROPERTY SHARE

More from The Economic Times

Robot to assist Vistara Nine killed in lightning and Bayer wins U.S. approval for Fuel prices to weigh on
passengers at IGI airport thunderstorm in Uttar Monsanto deal RBI's MPC meet from June
Pradesh 4

Get a Quote Browse Companies

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z | 1 2 3 4 5 6 7 8 9
Type Company Name Get Quote
Browse Mutual Funds
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Live Market Industry About Us

News Newsletters Create Your Own Ad
Portfolio Commodities Advertise with Us
Powered by Mobile Speed Terms of Use & Grievance Redressal
Live TV Blogs Privacy policy
Download hide.me VPN for free! X
 Biz Listings RSS

Download it from Download it from Download it from

FOLLOW US APP STORE GOOGLE PLAY Windows Store

Other Times Group news sites Hot on the Web

इकनॉिमक टाइ | ઈકોનોિમક ટાઈ સ | Pune Mirror | Bangalore Mirror | Ahmedabad Mirror |
ItsMyAscent | Education Times | Brand Capital | Mumbai Mirror | Times Now |
Indiatimes | नवभारत टाइ | महारा टाइ | ಜಯ ಕ ಾ ಟಕ | Go Green | AdAge India |
Eisamay | IGN India | NavGujarat Samay | Times of India | Samayam Tamil | Samayam
Telugu | Miss Kyra | Bombay Times | Filmipop | BrainBaazi | BrainBaazi APP
Living and Entertainment
Timescity| iDiva | Entertainment | Zoom | Healthmeup | Luxpresso | Gadget Reviews |
Titanium & Platinum Credit Card | Online Songs | MensXP | Hotels | Travel
Destinations | Cricbuzz | Recipes | Gaana | Happytrips | Getsmartapp
Interest Network
itimes
Share Market | GST | Income Tax Slabs | Aadhaar Card | IFSC Code | Mutual Funds |
How to save Income Tax | Sensex Today | Nifty Bank | Sensex | Income Tax Calculator
| Karnataka Election 2018
Services
Book print ads| Online shopping | Matrimonial | Astrology | Jobs | Tech Community |
Property | Buy car | Bikes in India | Free Classifieds | Send money to India | Used Cars
| Restaurants in Delhi | Remit to India | Buy Mobiles | Listen Songs | News |
TimesMobile | Real Estate Developers | Restaurant Deals in Delhi | Car Insurance |
Gadgets Now | Free Business Listings | CouponDunia | Remit2India | Techradar |
AliveAR | Getsmartapp App | ETMoney Finance App | Feedback | Auto

In Case You Missed It

Rupee vs Dollar IPO

Crude Oil Price Tata Motors Share Price

Upcoming IPO ICICI Bank Share Price

SEBI Best Mutual Funds to Buy

Sensex NSE

BSE Stock Market

Copyright © 2018 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service

Download hide.me VPN for free! X