In my last piece, I had referred to the various entities in the stock advisory service and what their performance has been.
Sandip Sabharwal is the newest entrant in the field. He has had a brilliant academic career. After a B Tech from IIT, Delhi, he did his PGDM from IIM Bangalore.
Sandip tasted his first success when he was appointed fund manager by SBI Mutual Fund. His stock picks created great wealth for investors and the assets of the fund grew from Rs 300 crore to nearly Rs 6000 crore. Then, he joined JM Financial AMC as CIO from late 2006 till March 2009. Here again, his success continued unabated and delirious investors poured in money, taking the AUM from Rs 200 crore to Rs 5000 crore in the short period from December 2006 to February 2008.
Then, Sandip joined the PMS division of Prabhudas Liladher. The details of his performance there are not available. He quit about a year ago and started on his own.
In his new avatar as a SEBI registered Investment Adviser, Sandip offers investors a variety of services through his website “asksandipsabharwal.com”. There is a ‘stock advisory’ offer on plan where, for a fee ranging from Rs. 10,000 to Rs. 50,000, you can seek advice on the state of your portfolio and what stocks you should buy, based on your risk profile. A similar service is available for mutual fund investors. You can also opt for a “one question” service for a fee of Rs. 1000. This is useful if you are stuck in a trading position and don’t know what to do.
The advantage (or disadvantage, depending on how you look at it) is that Sandip mixes long-term stock calls with short-term punts. In the “Gold Plan”, for instance, for a fee of Rs. 15,000, you can expect to receive recommendations for “5 to 10 strong long-term return stocks and a minimum of 10 trading calls per quarter”.
So, if you have the inclination to be both, an investor and a trader, this may be the service for you.
In his latest interview to CNBC-TV18, Sandip appeared cautious and opined that the market is likely to some downside. “The correction in global equity markets is not over and I see a second round of sell-off coming through” he said in an ominous tone.
Among sectors, Sandip opined that Telecom, OMC and Banking stocks were quoting at attractive valuations and would benefit from the expected reforms while export-oriented stocks in the Pharma and Technology sector would face headwinds owing to the adverse movement in the currency.
so now IIT and IIM degree comes in play. it would be glad if you can also provide his performance in AUM growth after 2008 and not just in bull phase.
also, can you please shed some light on the circumstances he had to leave SBI and then JM fund and the SEBI enquiry? What was the final outcome of the SEBI enquiry regarding insider trading and front running? Or are you happy to promote anyone like a puppet?
and if you dont like what I am saying please see the comment from Basant Maheshwari on this message board http://www.theequitydesk.com/forum/forum_posts.asp?TID=757&PN=3
It is puzzling that your site that has such high reputation has written an article on this fund manager, who had to leave multiple fund houses because of reasons that are not exactly known. I think its better to clear and stay away from fund managers with dubious backgrounds
JM Funds were the cause of some investors suffering heartburn for a long, long time. NAVs fell 70% in some cases. Please do research JM Mutual perfomance January 2008 onwards 🙂
Kindly write a fair article.
yes we request you to remove such post to maintain high quality posts here.
thank you
found this on twitter –
Jul 24: RE https://twitter.com/sandipsabharwal/status/492205217593561088 … Dying from laughter from someone who had >15% portfolio in Hanung Toys & Bombay Rayon Fashions
SS is not a ‘whiz kid’ but a spoilt brat. He had some success with SBI when he was at Junior/middle management level and with that reputation he joined JM Financial and ruined investors with his aggressive ‘Core 11’ fund. I think that fund lost more than 90% in two years which was sort of a record!
I fully agree with other friends here and request not to bring such guys on board this website, lest it will ruin reputation of this site as well. By the way, why does such a whizkid need this platform to advertise his consultation rates to lure investors to his website?
I am surprised that you are promoting so-called fund managers, who have swindled other people’s wealth without any worry and NAV had dropped without any reason due to wrong choices. Shame