a nice small commentary on Hdfc top 200
When a fund house becomes very big and one of its schemes becomes very big there is a chance that it will get watched. Under intense scrutiny it is not always easy to perform well. Prashant Jain is an exception of course.
I have my own MONIES in top 200, and have bravely recommended it over the past 13-14 years for sure, not sure if it was longer. Let me hasten to add – I had not paid much attention to Zurich Top 200. Actually not paid much attention to a small fund house….but then as they say rest is history.
When PJ did somethings like stick to Crompton greaves, but too much of SBI, etc. it was a little scary for most of the investors – except some of us who knew that the process does not go wrong for a few people. PJ is surely one of them.
Recently at a NISM lecture the person who spoke after me was Vicky Mehta (I did not hear him speak because I had to leave for some other work)…but we did talk about Top 200 on the flight back from Lucknow!
And here is a nice comment from him. Do not take it as a recommendation (as usual we need our disclaimers) – I am liking the performance of Naren’s Discovery as well as of course the all time rock star Franklin India Blue Chip too.
I am putting this article here because it is well written…
http://www.morningstar.in/mutualfunds/f0gbr06rou/hdfc-top-200-fund-growth/analyst-research.aspx
milind
Thank you subra for this input.I too continued my investments with top 200 and prudance….PJS flagship funds…In Recent history both funds are not on recommendation list of Media Experts as we are aware.No Fresh money should be given to Prashant is the general Tone……As its an IPL season lets use cricket lingo….Form is Temporary ,class is PERMANENT…In Prashant we have such s great player i did write to pj and shared with him that I continue to have trust in his ability and part of my retirement and Child Education Money is getting invested in his maiden funds…though to avoid cocentration risk…i am investing in my other heroes Narend schemes
R SIVA PRASAD
As HDFC EQUITY also has same portfolio and same manager, can I consider your comments to this fund also.
subra
—ditto—-R Siva Prasad. Nothing changes.
Mira D
For the record… we have owned Zurich…and both these are my core MF holdings.
In your list of Hyd co’s IVRCL too, pls. Also after being burnt by Montari and Max, NO Delhi Co, thank you.
subra
Only Mumbai, Chennai, and Bengaluru. Nothing against Pune.
Other cities were mostly a no no. Delhi was (is) a no no, except if it is an MNC like say Nestle – now not sure how many MNCs operate from there. If it was an MNC I would not bother where the HO was.
Delhi made an exception on broker’s recommendation – Jai prakash, Hero Honda, Ranbaxy. Now none of them are in my portfolio. Exited after holding for some time…and really long in case of H Honda – IPO to 2012-13…happy experience with all 3….
Balaji
Subra Sir,
May I know the reason why you have this bias against cities other than the 3 you have mentioned.
Appreciate if you can throw some light…
CTL
I sold my entire HDFC Top 200 holding on 16th & next day I read this post..LOL..was a sizeable holding.Luckily I still hold HDFC Equity..now Im never going to sell that.
shinu
i stopped praying for PJ for over a year afer exiting his funds one every year and happy with the decisions too. have seen many of his calls going wrong and the one year old article too dosent give much confidance. much happy with SN, qntm, franklin…
Tom
I do not understand MF rankings..I have 46 SIPs in HDFC Equity since Oct 2010 with an overall gain of 26.33% and money control.com tracking tells me to ‘ sell ‘ !
Sreekanth Yelicherla
Every reader/writer always remember one thing: EVERY person in the world who invests, invests with an ‘expectation’ that the underlying stocks will go UP and makes profit. It doesn’t matter whether it is a penny stock or a blue/green/red/yellow chip stock! If you think one mutual fund is good, by nature (read confirmation bias) we tend to look for positive things and if you look at a stock or a mutual fund as negative then you look for negative news items, as simple as that. So, don’t make decisions subjecting yourself to confirmation bias.