Investment Performance-October 2017
Here I am with another edition of my investment performance. This was a month in which the market, especially, Small and Midcap Stocks went up considerably, after a relatively muted August and September.
While the markets were strong, my own stocks did only ok. IDFC and IDFC Bank continued to do poorly, while certain other stocks, like CanFin Homes, EClerx and Ajanta also did poorly. On the other hand, Oberoi Realty, which is by far my biggest holding, did fine, and so did Bajaj Finserve/ A whole host of smaller holdings, like DCM Shriram, BKT, Indiabulls Housing Finance also did well.
Overall, of all the benchmarks, my porfolio did marginally worse than the Midcap Index, and considerably worse than the SBI Small and Midcap Fund, which had a blowout performance. Otherwise, on both a monthly and yearly basis, my investment performance was marginally better than the performance of the HDFC Top 200 fund, and was considerably better than the indices as well as both the PMS schemes I own, the MOSL “Value Strategy” fund, as well as the Centrum Deep Value Fund. One must wonder why anyone should invest in these PMS’s and give managers a fee, when one can have a reasonable portfolio and do considerably better.
I have also tabulated the results: