Despite negative global cues, the markets last week ended on a flat note helped by selective buying. The Smart Portfolios benchmark too saw no change in net worth at Rs 5.86 lakh. This, however, translates into a loss of 41.4 per cent on the initial capital of Rs 10 lakh invested at the start of Smart Portfolios on September 1, 2008.
Two out of the four fund managers – Amar Ambani and Kashyap Pujara – remained on the sidelines last week. On the other hand, Anand Agarwal invested Rs 1.09 lakh in the market, and Sadanand Shetty invested net Rs 0.16 lakh.
Agarwal and Shetty executed 11 trades, of which nine were on the buy side. Cumulatively, they bought shares worth Rs 1.61 lakh, and sold stocks worth Rs 0.36 lakh, resulting in net outflow of Rs 1.26 lakh.
Interesting enough, Agarwal's net worth saw the steepest cut of nearly a per cent in relative terms, as against the fund managers who saw minuscule change in their individual net worth.
MARGINAL GAIN
Kashyap Pujara
Fund Manager
Enam Direct
Kashyap Pujara, too, just like Amar Ambani remained on the sidelines last week. However, his portfolio in value terms saw a marginal rise to Rs 8.39 lakh from Rs 8.36 lakh. Pujara's last trade was on February 16, 2009, when he purchased 100 shares of Bank of Baroda. Pujara's net worth is down over 16 per cent, and he continues to hold cash of Rs 5.41 lakh.
MIXED ACTIVITY
Sadanand Shetty
Vice President
Kotak Securities
Sadanand Shetty was the only other active fund manager last week. He bought shares worth Rs 0.52 lakh, and sold stocks worth Rs 0.36 lakh, a net outflow of Rs 0.16 lakh. Shetty added Godrej Consumer to his portfolio. While he booked a loss of over 17 per cent in Tata Steel, he gained 16.6 per cent on his Piramal Healthcare investment. Shetty has 14 stocks in his portfolio, of which six are heavyweights - Reliance, SBI, Maruti, Sun Pharma, Tata Steel and ICICI Bank. His net worth now stands at Rs 8.88 lakh, including Rs 5.75 lakh of cash.
BUYING AGGRESSIVELY
Anand Agarwal
Fund Manager
Reliance Money
Having churned his portfolio in the preceding week, Anand Agarwal last week bought shares worth Rs 1.09 lakh in the five trades that he executed. Agarwal upped his holdings in Balrampur Chini and Axis Bank, while adding ICICI Bank and Larsen & Toubro to his portfolio. Agarwal now has eight stocks in his kitty, of which five are frontliners - SBI, Larsen & Toubro, BHEL, ICICI Bank and Reliance Communications. Following this purchase, Agarwal’s cash level has decreased to Rs 5.58 lakh from Rs 6.67 lakh. His networth now stands at Rs 8.35 lakh, down 16.5 per cent.
HOLDING CASH
Amar Ambani
Vice President (Research)
India Infoline
Amar Ambani remained on the sidelines for the second straight week still sitting with an extremely high proportion of cash levels. His last trade was on February 9, 2009, when he bought 30 shares of Sun Pharma. Reliance Communications is the only other stock in his portfolio. Ambani’s net worth stands unchanged at Rs 9.93 lakh, with Rs 9.47 in cash.
