Fund managers in sell mode

 

Fund managers in sell mode

Rex Cano / Mumbai April 30, 2010, 0:41 IST

 

The benchmark Smart Portfolios value took a marginal dip in the last five trading days. The benchmark S&P CNX index portfolio value declined 0.4 per cent from Rs 11.34 lakh to Rs 11.30 lakh, during April 23-29. The markets were volatile during this period as they swung to the global cues following the Greece, Portugal and Spain S&P downgrades, and our very own April derivatives expiry. All this did affect Smart Portfolios as well, as all fund managers barring Amar Ambani saw net declines in individual net worth’s. Most interestingly our money managers turned net sellers during this period.

Ajay Parmar
Ajay Parmar executed eight trades, all on the sell side. On one hand he booked an average gain of nearly 19 per cent on his investments in McNally Bharat followed by 24 per cent and 12 per cent gains in Sintex and Godawari Power, respectively.
 

Top Holdings	% of   assets	Cost  price (Rs)	Current  price (Rs)	Value (Rs lakh)
Lakshmi Mach	5.25	2062.05	2055.90	0.72
Lupin	4.91	1510.25	1682.30	0.67
Cadial Health	4.58	480.68	561.00	0.63
JSWSL	4.49	1017.40	1232.45	0.62
Godawari Pow	4.36	269.00	299.30	0.60
Total investments	60.97			8.36
Cash	39.03			5.35
Net worth				13.72
Returns (%)	37.18

 

On the other hand, he booked loss of 6.5 per cent and 5 per cent on his investment in Panacea Biotech and Blue Star, respectively. Parmar's portfolio value now stands at Rs 13.72 lakh, down 0.4 per cent in the above mentioned period (April 23-29). His cash levels have now risen sharply to Rs 5.35 lakh, thanks to net sales of Rs 4.56 lakh in the last five trading days.

Amar Ambani
Amar Ambani resorted to aggressive profit taking. On the 16 sell trades, he booked an average gain of 7.5 per cent in 15 trades, while a loss of just 1.3 per cent in one odd trade. Bata India, Lanco Infratech, Visaka and Mahindra Life were some of the major profitable trades for him.
 

Top Holdings	% of assets	Cost  price (Rs)	Current  price (Rs)	Value (Rs lakh)
MRF	4.06	6335.00	7067.70	0.57
Hikal	3.76	377.00	403.35	0.52
Nagarjuna Cons	3.38	180.65	188.45	0.47
Graphite	3.31	93.20	102.60	0.46
Valecha Engg	3.28	153.90	207.80	0.46
Total investments	65.70			9.16
Cash	34.30			4.78
Net worth				13.94
Returns (%)	39.35

 

Ambani's fresh purchases include Tata Metaliks, Indian Bank, SKF India, Nagarjuna Construction and Graphite India. His net worth stands at Rs 13.94 lakh, up 1.3 per cent and he holds Rs 4.78 lakh as cash in hand.

Vinay Khattar
Vinay Khattar executed buy and sell trades of almost equal amount. His fresh purchases are Jaiprakash Associates and Godawari Power, while he sold off Crew BOS and Techno Electric.
 

Top Holdings	% of   assets	Cost  price (Rs)	Current  price (Rs)	Value (Rs lakh)
Havells India	9.73	563.17	614.95	1.14
Escorts	9.48	166.44	177.40	1.11
eClerx	9.02	517.00	555.10	1.05
Crew BOS	7.98	96.28	93.35	0.93
Godawari Pow	7.65	274.05	299.30	0.89
Total investments	99.98			11.69