It was yet another quiet week for Smart Portfolios, as trading activity continued to remain subdued. While the markets closed in the positive territory for the seventh week in a row, fund managers were net buyers of stocks worth Rs 43,000. The four fund managers executed just 14 trades last week, of which Anand Agarwal alone did nine.
Last week, the Smart Portfolios benchmark, the BSE 200 index gained another 3 per cent to 1,344. In the process, the benchmark's net worth has now cut down its losses to less than 25 per cent at Rs 7.54 lakh as against its initial corpus of Rs 10 lakh at the start on September 1, 2008. It may be recalled that, just a month after the launch of Smart Portfolios, the portfolio value had seen a sharp fall of over 48 per cent at its lowest level.
Similarly, net worths of fund managers too have been on the rise and continue to outperform the benchmark by a wide margin. Amar Ambani's net worth is now up nearly 3 per cent at Rs 10.27 lakh. Sadanand Shetty, Kashyap Pujara and Anand Agarwal's portfolio value are down in the range of 2-8 per cent each as against a 24.5 per cent drop in the benchmark's net worth.
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