Some more details on above point
Anoop bhaskar believes in keeping as many sector as possible in a portfolio. His argument is – fund manager should not go completely underweight on a particular sector because in markets sector outperforms when market participants are not expecting it. He encourages to find alpha within a sector – by small mid cap under researched idea. One can see from Bandhan Mf factsheet, fund manager has not gone underweight massively on any sector
Within each sector one can see fund manager is looking to creat alpha by small mid cap idea. Thats why fund usually outperforms when small midcap do well. It also increases beta of the portfolio but thats what Anoop bhaskar cherishes. Contrary to other fund houses he wants to do exceedingly well in bull market while he doesn’t mind taking knock in bear market.
Compare this to Axis, one can see pure play bottom up approach. I have highlighted the large difference with benchmark. The fact that they dont mention it in factsheet speaks about their “bottom up” approach. I had to do some number crunching to find the data
Being a DIY direct investor sometimes act as a hindrance for being good DIY mutual fund investors. It is very difficult to have faith in two contrasting “beliefs”. I will be completing 8 years this year on mutual fund investments. Even after 8 years I keep fighting with my ego to let fund managers run their strategies and I buy and hold funds through different cycles. This process has been rewarding so far. Next month will share details around IRR
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