Thank you VP members for all the help and guidance through out the year.
All the index performing well this year. After 2011 , this is almost 12th year where nifty end the year on positive note. Midcap and Small cap leads the overall performance.
| Category | Percentage |
|---|---|
| Stock | 19% |
| Equity MF | 16% |
| Debt MF | 36% |
| FD | 7% |
| Gold | 3% |
| Cash | 7% |
| Other | 13% |
I haven’t made any major changes in allocation, continuing my SIP and allocating additional funds to a Debt fund while increasing cash holdings.
This year I was focusing on consolidating everything be it MF or portfolio. Still not seeing too many opportunities in the market hence going slow but at the same time don’t want to sit outside completely as well.
MF Portfolio:
DSP launched quality small cap fund and at the same time Pankaj Tibrewal quits Kotak. So I have booked all the profits in small cap of Kotak, HDFC & DSP. Anyways I am more comfortable with index fund for long term so moved into DSP quality small cap fund
Equity Portfolio:
I exited positions where the allocation was too low or targets were achieved, reducing the number of stocks to only 11.
I made several exits, even in cases where conviction was high but allocation remained low. Other reasons for selling included reducing exposure in specific sectors, promoter groups, or due to high valuations. The stocks involved in these exits were Devyani, LTTS, UBL, USL, Apcotex, RBA, TTK Prestige, Syngene, Bajaj Finserv, TCS, Dr. Lal, and HDFC.
Make a lot of exits even though in some cases where conviction was high but allocation was low. Some other reasons are to decreasing allocation in sector or promotor group or valuation. Such names are Devyani, LTTS, UBL, USL, Apcotex, RBA, TTK Prestige, Syngene, Bajaj Finserv, TCS, Dr LAL, HDFC.
Although no major changes in core holdings, in fact increased position in those stocks.
| Sr No | Ticker | Inv Price | Curr Price | Allocation |
|---|---|---|---|---|
| 1 | NSE:ITC | 206 | 464 | 20% |
| 2 | NSE:HDFCLIFE | 559 | 648 | 16% |
| 3 | NSE:ICICIGI | 1,232 | 1,438 | 16% |
| 4 | NSE:HDFCAMC | 2,018 | 3,203 | 12% |
| 5 | NSE:KOTAKBANK | 1,787 | 1,920 | 11% |
| 6 | NSE:MUTHOOTFIN | 1,017 | 1,490 | 5% |
| 7 | NSE:SUNDARMFIN | 2,336 | 3,541 | 4% |
| 8 | NSE:NAM-INDIA | 224 | 435 | 3% |
| 9 | NSE:CDSL | 1,026 | 1,835 | 4% |
| 10 | NSE:JYOTHYLAB | 206 | 483 | 4% |
| 11 | NSE:ARE&M | 610 | 820 | 5% |
I know that I am currently making a lot of changes but as I said, I am in learning phase. I am becoming more comfortable with certain type of businesses. Allocating 0-1% wasn’t yielding any rewards, even when I was right.
I like to add more mid caps stocks as these companies reached a certain scale and at the same time, they have long runaway for growth. But almost all the stocks in FMCG, IT, QSR, FMEG, new age sectors are currently trading at more than 60-70 PE, so not comfortable at the moment to add.
I will focus on large cap stocks for now and consider adding small/mid cap stocks when suitable opportunities arise.
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