Fund managers adopt diverse strategies

 

Fund managers adopt diverse strategies

Rex Cano / Mumbai November 19, 2010, 0:20 IST

 

The equity markets reacted adversely to Chinese rate increase fears and renewed concerns about the European sovereign debt crisis. The portfolio value of Smart Portfolios’ benchmark index, the S&P CNX 500, fell 4.5 per cent to Rs 10.89 lakh.

Interestingly, to counter this, our fund managers adopted diverse strategies. While Siddarth Bhamre weighed on the buy side, Vinay Khattar was an aggressive seller. Cumulatively, the four fund managers sold stocks worth Rs 1.20 lakh in four trading days this week, with November 17 being a market holiday.

 

Ajay Parmar
Ajay Parmar executed four trades last week, two on each side. He was a net buyer of stocks worth Rs 4,183. Parmar exited GRUH Finance and HDFC for minor gains and losses, respectively. On the other hand, his fresh buys were Gitanjali Gems and Manali Petrochemicals. These investments dipped 7.7 per cent and 2.6 per cent, respectively. Despite the dip, though, he managed to outperform the benchmark with a 1.8 per cent loss as against the benchmark’s 4.5 per cent fall. Parmar’s net worth now stands at Rs 11.05 lakh. He holds Rs 8,866 cash.
 

AJAY PARMAR, head research, institutional equities, Emkay
Top Holdings	Cost price (Rs)	Current price (Rs)	Value (Rs lakh)
Unichem Labs	185.98	247.85	1.24
Natco Pharma	291.03	308.50	0.85
Chambal Ferts	75.38	91.75	0.73
eClerx Services	546.00	673.55	0.67
Bajaj Auto	1485.45	1561.20	0.55
Total investments			10.96
Cash			0.09
Net worth			11.05

 

Shishir Bajpai
Shishir Bajpai executed a single trade. He bought 200 shares of Ajmera Realty. His net worth took a sharp hit of 6.5 per cent this week, mainly on account of a fall in Reliance Industries, Tata Motors and JSW Energy. Bajpai’s total investment in these three stocks stands at Rs 3.60 lakh. His portfolio value is now Rs 13.56 lakh. Microsec Financial, Mercator Lines, Crest Communication, Websol Energy and Jindal South West Holdings were the key underperformers in his portfolio.
 

SHISHIR BAJPAI, senior vice president, IIFL Private Wealth
Top Holdings	Cost price (Rs)	Current price (Rs)	Value (Rs lakh)
Reliance Inds	1,113.25	1,032.95	1.24
Tata Motors	1,227.80	1,230.75	1.23
JSW Energy	125.00	113.80	1.14
Selan Explorations	401.05	378.40	1.14
Microsec Fin	89.97	74.80	1.12
Total investments			13.53
Cash			0.03
Net worth			13.56

 

Siddarth Bhamre
Siddarth Bhamre’s portfolio value declined 3.5 per cent to Rs 10.35 lakh. He executed three trades, all on the buy side, and invested Rs 1.96 lakh in the markets. He still holds Rs 17,200 cash. Bhamre’s fresh buys are Unitech, Reliance Industries and Aban Offshore. MphasiS, IVRCL Infrastructures, Electrosteel Castings, Tata Chemicals and JK Tyre are some of the key underperformers in his portfolio.
 

SIDDARTH BHAMRE, head-equity derivatives, Angel Broking
Top Holdings	Cost price (Rs)	Current price (Rs)	Value (Rs lakh)
Reliance Inds	1,034.60	1,032.95	0.77
CESC	372.75	371.30	0.74
Great Offshore	379.20	368.60	0.74
Aban Offshore	809.00	793.90	0.64
Hindustan Const	64.45	58.35	0.58
Total investments			10.17
Cash			0.17
Net worth			10.34

 

Vinay Khattar
Vinay Khattar was the most active fund manager with 21 trades. His bias was on selling. He sold stocks worth Rs 3.74-lakh at the net level. He booked profit on Subex, India Glycols and Aarti Drugs. On the other hand, prominent losses were seen on his investment in Jayaswal Neco and La Opala. Interestingly, after exiting Subex at Rs 89, he has re-entered the stock for an average price of Rs 82. Other prominent buys include Bharti Airtel, IFCI and Rolta. Khattar’s investments are valued at Rs 6.65 lakh and he holds Rs 3.74 lakh cash.
 

VINAY KHATTAR, head – research of WAIS, Edelweiss
Top Holdings	Cost price (Rs)	Current price (Rs)	Value (Rs lakh)
Bharti Airtel	316.65	324.95	1.04
ISMT	65.00	61.75