mutual funds: Long and short of markets: Is ‘mutual funds sahi hai’ slogan losing shine & other top reads

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Looking at the dismal returns of actively managed equity funds at a time when the market is at a record high, one can’t help but recall the wisdom of the legendry American investor John C Bogle, who once said, “Don’t look for the needle in the haystack. Just buy the haystack!” A plain vanilla index fund might have given you better returns than actively managed funds. PMSes, the favourite option of the richie rich, are meanwhile beating every other product. Read this and more in this weekend’s edition of ‘Long and Short of Markets’.

Are mutual funds really sahi hai?
Despite a nerve-racking rally in headline indices since their March lows, most equity mutual funds, including the top performing largecap funds, delivered just 10-13 per cent returns over a 5-year period. At a time when index funds are having a dream run, here is a fund manager’s outlook on the performance of actively managed funds.
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Who’s generating alpha for the rich
Although beyond the reach of the ‘aam aadmi investor’, PMSes have been money spinners in recent times. The best of these PMSes are clocking 5-7 per cent a month, as against 3-4 per cent of benchmark returns for the same period. Here is a list of alpha generator stocks PMSes rode their profits on.
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Flood alert!
The overall FPI inflows in November so far is just Rs 400 crore short of the August figure of Rs 49,879 crore. Read here on how FPIs are bullish on Indian equities pumping multi-billion dollars in every quarter post the March lows.
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LVB’s ‘once bitten, twice shy’ lesson
Financial stocks don’t work like cyclicals, says this market veteran. Financial stocks work on faith and unlike the cyclicals, where cheaper stocks boom with the cycle, cheaper financial stocks don’t behave similarly, he says. Here is more on what the veteran has to say about taking home a lesson on investing in financials and other cheaper stocks.
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Bitcoin mania rages
Despite being volatile and opaque, crypto currencies are gaining traction in India and across the world as many institutional investors are joining the bandwagon. Read here for more on bitcoin’s outlook after touching all-time high and crypto market undercurrent as well.
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