| Fund managers fully invested |
| Rex Cano / Mumbai October 12, 2009, 0:39 IST |
With little over a month gone since Smart Portfolios were launched on September 1, 2009, the markets in this period have seen a steady rise although there has been some profit taking at different junctures.
An investment of Rs 10 lakh at the start of Smart Portfolios in the benchmark S&P CNX 500 index is today valued at Rs 10.49, a gain of nearly 5 per cent.
On the other hand, fund managers are in the process of gradually building their portfolio and on an average have invested over 90 per cent of their individual corpus so far in the markets. However, in terms of returns they all lag the benchmark. Ajay Parmar's net worth has risen by 2.69 per cent to Rs 10.27 lakh, Amar Ambani's portfolio value has appreciated by 3.48 per cent to Rs 10.35 lakh, Phani Sekhar's net worth is up 2.74 per cent at Rs 10.07 lakh, and Praveen Panjwani's portfolio value stands at Rs 10.07 lakh, up 0.72 per cent.
In the week under review, Praveen Panjwani remained on the sidelines, while others cumulatively bought shares at the net level worth Rs 1.07 lakh.
In the last four weeks our fund managers shared their detailed strategies and investment ideas with our readers, stay tuned to Smart Portfolios to see how they implement them going forward.
No cash, all investments
Ajay Parmar
Head Research Institutional Equities, Emkay
Ajay Parmar has invested all his funds in the markets, and last week his net purchases were worth Rs 29,900. Parmar has 18 stocks in his portfolio, out of which 11 are trading above his cost price. Orbit Corporation up over 25 per cent from his cost price is the best performing stock followed by Torrent Pharma, HDIL and Coromandel Fertilisers. TV 18, down nearly 24 per cent from his cost price, is the worst performing stock in his portfolio. So far, Parmar has exited just from one stock - HEG for a marginal loss of 2.5 per cent.
| Top Holdings | % of assets | Cost (Rs) Price | Current price (Rs) | Value (Rs lakh) |
| Torrent Pharm | 10.22 | 269.00 | 299.9 | 1.05 |
| Bhushan Steel | 9.32 | 1185.87 | 1275.7 | 0.96 |
| Bajaj Auto | 6.19 | 1494.20 | 1589.6 | 0.64 |
| Orbit Corp | 5.91 | 194.05 | 242.8 | 0.61 |
| Hinduja Vent | 5.30 | 391.90 | 362.8 | 0.54 |
| Total investments | 99.90 | - | - | 10.26 |
| Cash | 0.10 | - | - | 0.00 |
| Net worth | - | - | - | 10.27 |
| Returns (%) | 2.69 | - | - | - |
The 22-stock portfolio
Amar Ambani
Vice President (Research), India Infoline
Amar Ambani has invested over 95 per cent of his corpus so far, with cash balance of just Rs 23,200. In the week under review, Ambani was a net buyer of stocks worth Rs 27,370. He holds 22 stocks in his portfolio, out of which nine are trading above his cost price. Currently, Indian Overseas Bank with a gain of 36.43 per cent is his best performing pick, while Suzlon down 15.56 per cent from his cost price is the major dragger on his portfolio. In this short period so far, Ambani has exited from 11 stocks, of which Himatsingka Seide with a gain of 19.47 per cent was the biggest profitable pick. He booked losses in two stocks, Reliance Communications and Gujarat Petronet.
| Top Holdings | % of assets | Cost (Rs) Price | Current price (Rs) | Value (Rs lakh) |
| Indian Overs Bk | 6.56 | 94.70 | 129.20 | 0.68 |
| MRF | 5.82 | 4659.70 | 5476.75 | 0.60 |
| Unitech | 5.81 | 107.01 | 98.60 | 0.60 |
| IB Securities | 5.30 | 57.10 | 56.50 | 0.55 |
| IFCI | 5.12 | 53.90 | 52.95 | 0.53 |
| Total investments | 95.22 | - | - | 10.16 |
| Cash | 4.78 | - | - | 0.51 |
| Net worth | - | - | - | 10.67 |
| Returns (%) | 3.48 | - | - | - |
Testing waters
Phani Sekhar
Fund Manager - PMS, Angel Broking
Phani Sekhar has invested around 82 per cent of his corpus in the markets, and he now holds cash of Rs 1.87 lakh. Sekhar has 11 stocks in his portfolio, out of which three are trading below his cost price. eClerx Services up 12.4 per cent from his cost price is the top performer followed by Axis Bank, Sunil Hitech and HDFC Bank. Bharati Shipyard is down 9.3 per cent from his cost price followed by Federal Bank. So far, Sekhar has not exited from any stocks.
| Top Holdings | % of assets | Cost (Rs) Price | Current price (Rs) | Value (Rs lakh) |
| Eclerx | 10.55 | 344.25 | 386.95 | 1.08 |
| Rel Infra | 10.07 | 1194.80 | 1293.60 | 1.03 |
| Axis Bank | 9.70 | 901.30 | 996.45 | 1.00 |
| Reliance | 9.61 |
