Here is a graph of my investment performance in August 2014:
While I continued by relative performance over the other benchmarks, I am still quite disappointed with my performance in August 2014.
Why is this? Well look at the table of rolling returns below:
|Returns||My Portfolio||Kotak Classic||SBI Midcap||Nifty|
|Last 3 Months||18%||9%||18%||9%|
|Last 6 Months||64%||31%||41%||30%|
|Since Nov,8, 2013||85%||36%||67%||32%|
So, while my portfolio still outperformed the large caps, the one month and 3 month performance over the SBI Midcap fund is disappointing.
Why was this so? Partly, I think because IDFC and Oberoi Realty have now a nearly 20% share of my portfolio. And these shares are hardly moving. As a result, the overall portfolio performance is getting muted. While this is disappointing, I still believe strongly in both stocks. And I am using the relative underperformance of these two stocks to buy more.
On a more positive note, the total assets being managed by me have grown to nearly 3 times what it was in November 2013. Part of it is a nearly 80% jump in the NAV. Partly, it is more investment.
Given that I believe we will have a secular bull run for some years if the Modi government performs, I intend to deploy more funds in the market. However, now each stock I intend to purchase is going to have some thing going for it, which is aside from government regulations, and which is unlikely to perform very poorly, if the promised economic agenda does not materialize.