Fund managers underperform

Contrary to the rally in the markets, fund managers for once have underperformed when compared to the benchmark this week. The Smart Portfolios benchmark, S&P CNX 500, net worth appreciated by another two per cent this week, following a four per cent gain in the previous week. An investment of Rs 10 lakh at the start of the Smart Portfolios season 3 in the benchmark portfolio is now worth Rs 10.63 lakh, up 6.3 per cent in a short period. Meanwhile, our fund managers, who are in the process of building their portfolios, saw marginal changes in their net worth this week. However, Ajay Parmar saw a net decline of 1.6 per cent. Having lost on the initial lead, and deployed significant amount of cash in the markets, it would be interesting to see how the money managers churn their model portfolios ahead.

Ajay Parmar
Ajay Parmar is nearly fully invested in the markets, with his cash levels declining to Rs 9,000-odd levels. His net worth is down 1.5 per cent to Rs 9.85 lakh. His recent buys include Tata Motors, LIC Housing Finance, UTV Software, Mahindra Holidays and Zuari Industries. His portfolio consists of 22 stocks, of which Shriram EPC, LIC Housing Finance and TRF are the top performers. On the other hand, Hercules Hoists, Infinite Computer, Chambal Fertilisers, UTV Software, JK Tyre, Technofab Engineering, Balkrishna Industries and Deepak Fertilisers, down by four to eight per cent, are the major laggards.

Shishir Bajpai
Shishir Bajpai saw a notional change of 0.3 per cent in portfolio value. His net worth now stands at Rs 10.44, up 4.1 per cent. His total investments are valued at Rs 7.57 lakh, while cash levels stand at Rs 2.84 lakh. His fresh buys are IFCI, Reliance Infrastructure and Hexaware. Bajpai holds nine stocks in his portfolio. Ajmera Realty, with a gain of nearly 18 per cent, is the top performer, followed by Reliance Industries. Gitanjali Gems and ONGC too have logged smart gains. Ispat Industries and Reliance Infrastructure are the notable losers.

Siddarth Bhamre
Siddarth Bhamre too saw a marginal dip in portfolio value to Rs 10.10 lakh. His investments are valued at Rs 6.27 lakh, and he holds Rs 3.82 lakh cash. His fresh purchases are GE Shipping, Patni Computer, Reliance Communications, Chennai Petroleum, Subros, Nagarjuna Construction and IVRCL Infrastructure. Meanwhile, Bhamre has so far booked gains in the range of four to eight per cent on his investment in Wipro, India Cements, Reliance Industries, ICSA India, HDIL and Patel Engineering. His portfolio consists of 18 stocks, of which Suzlon and Reliance Infrastructure are the top gainers, while Dishman Pharmaceuticals, down over 9 per cent, is the major loser.

Vinay Khattar
Vinay Khattar’s portfolio value inched up a bit to Rs 10.02 lakh. His investments are valued at Rs 7.83 lakh, and he holds Rs 2.19 lakh in cash. He bought DLF, Delta Corp and Hindustan Construction this week. On the other hand, he booked marginal losses on his investment in Sterlite Technologies and Action Construction. Khattar holds 11 stocks in his portfolio. Delta Corp, with a gain of nearly 14 per cent, is the top performer. SKS Microfinance and KEI Industries, up by five per cent and four per cent respectively, are the other major gainers. MIRC Electronics and West Coast Paper, down over seven per cent and six per cent respectively, are the major losers.

To view the portfolios of the fund managers, please visit www.smartinvestor.in