Reliance Mutual Fund has announced dividend under the quarterly dividend option of Reliance Medium Term Fund and Reliance Monthly Income Plan. The record date for the same is December 20, 2007.
(by value research)
Mutual Fund News update from Nishit Doshi (9824021680) a leading MF Advisor based in Ahmedabad. Gujarat.
Sunday, December 16, 2007
Friday, December 14, 2007
ABN AMRO Equity Fund Declares 60% Dividend
ABN AMRO Mutual Fund has announced a dividend of 60% (i.e. Rs 6 per unit on the face value of Rs 10) under ABN AMRO Equity Fund. The record date for the same is December 18, 2007. This is the fourth dividend payout from the fund since its launch.
(by value research)
(by value research)
Franklin Templeton Revises Minimum Investment Amount
Franklin Templeton Mutual has revised the minimum investment amount under the institutional and super institutional plans of Templeton India Treasury Management Account and Templeton Floating Rate Income Fund Long Term Plan, respectively.
(by value research)
SBI Magnum Global Fund - Changing Track
Magnum Global has had a see-saw ride over the years. At times it finds itself at the bottom of the category & then comes out tops only to languish again, making it hard know what one does with this fund
It's hard to know what to do with this fund.
From a fairly dismal track record, it was the best performer in 2004 and the second best in 2005. Last year too it had a great run. But with the recent increased diversification, low concentration levels and huge asset base, this mid-cap fund is in uncharted territory. And this year, it is struggling to live up to its performance standard.
From a large-cap bias, it began to aggressively invest in mid- and small-cap stocks in 2004. The move paid rich dividends. During the three-year period from 2004 to 2006, the fund generated better returns as compared to its category in every quarter.
The fund's strength has been its ability to pick trends, invest aggressively and ride through the momentum to make huge gains. So while other fund managers balked at dabbling in real estate plays during their high rise in 2006, this one caught on to Ansal Properties and Infrastructure aggressively. And it was handsomely rewarded for its courage. Some of its other profitable picks include Dishman Pharmaceuticals, Sintex Industries, India Cements, Infotech Enterprises and Jai Prakash Associates. Its earlier focus of 30-35 stocks has given way to 70, none of which account for more than 5 per cent. This could be the fall-out of its large asset base which has crossed Rs 1,700 crore. Its five-year returns of 64.95 per cent (annualised) rank it way ahead of the category's 51.19 per cent. But its year-to-date and one-year returns are below the category average.
Though we still think it's a keeper, potential investors may want to wait for signs of improvement.
(by value research)
It's hard to know what to do with this fund.
From a fairly dismal track record, it was the best performer in 2004 and the second best in 2005. Last year too it had a great run. But with the recent increased diversification, low concentration levels and huge asset base, this mid-cap fund is in uncharted territory. And this year, it is struggling to live up to its performance standard.
From a large-cap bias, it began to aggressively invest in mid- and small-cap stocks in 2004. The move paid rich dividends. During the three-year period from 2004 to 2006, the fund generated better returns as compared to its category in every quarter.
The fund's strength has been its ability to pick trends, invest aggressively and ride through the momentum to make huge gains. So while other fund managers balked at dabbling in real estate plays during their high rise in 2006, this one caught on to Ansal Properties and Infrastructure aggressively. And it was handsomely rewarded for its courage. Some of its other profitable picks include Dishman Pharmaceuticals, Sintex Industries, India Cements, Infotech Enterprises and Jai Prakash Associates. Its earlier focus of 30-35 stocks has given way to 70, none of which account for more than 5 per cent. This could be the fall-out of its large asset base which has crossed Rs 1,700 crore. Its five-year returns of 64.95 per cent (annualised) rank it way ahead of the category's 51.19 per cent. But its year-to-date and one-year returns are below the category average.
Though we still think it's a keeper, potential investors may want to wait for signs of improvement.
(by value research)
Poised For Good Growth
The two of them look after Magnum Global. Sheth has six years of work experience and Pandey, seven.
Sheth also looks SBI One India fund with another fund manager but takes care of Magnum Balanced and Magnum NRI Inv FlexiAsset on his own. His last assignment was with ASK Raymond James. Besides being a commerce graduate and holding an MMS in finance, he is pursuing his CFA, AIMR USA.
Pandey manages two sector funds - Magnum FMCG and Magnum Pharma, an equity diversified fund (Magnum Emerging Business) and a debt specialty fund (SBI Arbitrage Opportunities Fund). Pandey is a science graduate and has done his CFA from ICFAI.
Do you see a market crash in the near future?
Markets have a tendency to over value or under value a particular company or a crisis or the overall situation. This phenomenon shall continue and we shall see volatility on either side. But, needless to say, structurally we are poised for good economic growth which should be reflected in corporate earnings and, in turn, get reflected in stock prices. So, with some intermittent slowdown or correction, the market on the whole is expected to do well in foreseeable future of three to five years.
What is the strategic and tactical orientation of your fund?
Magnum Global is a diversified equity fund with specific focus on mid- and small-capitalisation stocks. The approach or style of investing is blended with both growth as well as value stocks finding a space in the portfolio. The fund focuses on companies which are emerging blue chips, displaying sustainable high growth rates. While high growth sectors / companies find more weightage, value stocks (with significant margin of safety) are also well participated. We usually take long-term stock/sector calls in this fund.
Which are your top sector preferences?
Given the current thrust on infrastructure development, which is important and inevitable for our economic growth to continue, our preferences remain in sync with economic sensitivity.
Industrial Manufacturing
Infrastructure Developers
Cement
(by value research)
Sheth also looks SBI One India fund with another fund manager but takes care of Magnum Balanced and Magnum NRI Inv FlexiAsset on his own. His last assignment was with ASK Raymond James. Besides being a commerce graduate and holding an MMS in finance, he is pursuing his CFA, AIMR USA.
Pandey manages two sector funds - Magnum FMCG and Magnum Pharma, an equity diversified fund (Magnum Emerging Business) and a debt specialty fund (SBI Arbitrage Opportunities Fund). Pandey is a science graduate and has done his CFA from ICFAI.
Do you see a market crash in the near future?
Markets have a tendency to over value or under value a particular company or a crisis or the overall situation. This phenomenon shall continue and we shall see volatility on either side. But, needless to say, structurally we are poised for good economic growth which should be reflected in corporate earnings and, in turn, get reflected in stock prices. So, with some intermittent slowdown or correction, the market on the whole is expected to do well in foreseeable future of three to five years.
What is the strategic and tactical orientation of your fund?
Magnum Global is a diversified equity fund with specific focus on mid- and small-capitalisation stocks. The approach or style of investing is blended with both growth as well as value stocks finding a space in the portfolio. The fund focuses on companies which are emerging blue chips, displaying sustainable high growth rates. While high growth sectors / companies find more weightage, value stocks (with significant margin of safety) are also well participated. We usually take long-term stock/sector calls in this fund.
Which are your top sector preferences?
Given the current thrust on infrastructure development, which is important and inevitable for our economic growth to continue, our preferences remain in sync with economic sensitivity.
Industrial Manufacturing
Infrastructure Developers
Cement
(by value research)
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