Fund managers were in aggressive buying mode continuing from where they had left two weeks ago. For the week ended March 13, their net purchases with the exception of Kashyap Pujara amounted to Rs 1.67 lakh. In the preceding week too, fund managers had bought shares worth nearly Rs 1 lakh.
Out of 25 trades executed last week by three fund managers, 16 were on the buy side and just nine on sell. Overall, they bought shares worth Rs 3.76 lakh, and sold scrips worth Rs 2.09 lakh.
Aided by a global rally on Friday, markets closed on a strong note. The Smart Portfolios benchmark (BSE 200) index surged over 4 per cent to 1,023.70. In comparison, fund managers under-performed the benchmark as their portfolios appreciated by 0.4-3.51 per cent.
The Smart Portfolios benchmark portfolio is now valued at Rs 5.74 lakh - down 42.56 per cent - as against Rs 10 lakh at the start on September 1, 2008.
NO TRADE WEEK
Kashyap Pujara
Fund Manager
Enam Direct
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Having been an aggressive buyer (purchases of Rs 1.59 lakh) in the preceding week (ended March 7), Kashyap Pujara remained on the sidelines last week. However, his portfolio value appreciated by 3.51 per cent to Rs 8.56 lakh. Pujara has nine stocks in his portfolio, of which four are in green.
Punjab National Bank and Reliance (up 15 and 14 per cent respectively) are adding to his returns tally. On the other hand, Century Textiles and Reliance Communications with losses of around 45 per cent each are a drag on his portfolio.
AVERAGING OUT
Sadanand Shetty
Vice President
Kotak Securities
Sadanand Shetty executed three trades last week, with net purchases of Rs 6,300. He increased stake in Maruti, Tata Steel and Power Finance. Shetty has a total of 14 stocks in his portfolio, of which just three are in positive territory. His best pick is Maruti, up 13 per cent from his purchase price.
On the other hand, Allied Digital has been the biggest under-performer, with a loss of over 54 per cent. Shetty's net worth rose by 1.5 per cent from Rs 8.69 lakh to Rs 8.82 lakh.
BANKING ON BANKS
Anand Agarwal
Fund Manager
Reliance Money
Apart from being the most active fund manager, Anand Agarwal was also the most aggressive buyer. His gross purchases were Rs 2.82 lakh, while gross sales stood at Rs 1.58 lakh, resulting in a net outflow of Rs 1.24 lakh. Agarwal is also the only fund manager with profits on each of his nine stocks in his portfolio.
His star performer has been Axis Bank which has gained nearly 18 per cent. Interestingly, of the nine stocks, five are from the banking space. Agarwal's portfolio value appreciated by a little over 3 per cent to Rs 8.43 lakh from Rs 8.18 lakh.
CASH IS KING
Amar Ambani
Vice President (Research)
India Infoline
In the three trades that Amar Ambani executed last week, he booked a 4 per cent gain in Sun Pharma before re-entering it at lower level. He also added Lupin to his portfolio. Of the four stocks in Ambani's portfolio, Reliance Communications (sole loser) down 41.5 per cent is major drag on his net worth.
Ambani's net worth rose marginally by 0.4 per cent to Rs 9.96 lakh. He still continues to hold a very high proportion (89.3 per cent) of cash at Rs 8.89 lakh.