Another week, another sea of red. In a week where we saw broad based declines in equity funds, international funds and gold had positive returns. Gold showed the diversification benefits as a hedge against market panic, but its lackluster performance during long bull markets defeats the argument of including it as part of one's portfolio allocation.
NSE
All said and done, do realize that accumulating more units with Nifty around 10k is better than accumulating more units with Nifty at 11.5k. So, if at 11.5k the thought of stopping your SIPs didn’t cross your mind, it should not cross your mind now.
Take the word of experience, I speak the truth: inaction is safest in danger.
- Silius Italicus
Urjit Patel (RBI Governor) said that RBI’s forex reserves at present is sufficient to finance 10 months of imports. He also indicated that RBI will let the market determine the Rupee - Dollar exchange range. The governments decision to cut fuel prices didn't go well for oil marketing companies whose stocks price fell down as much as 34%.
Indian Markets have gone through extended volatility during 2018. This week we examined the performance of our all-weather portfolio which we first recommended in Jan 2017. We also advised on updates to our recommended portolfio. You can find the Performance & Recommended Portfolio Update here.
Recommended portfolio performance:
BSE Sensex and NIFTY were down by -5.11% and -5.62% respectively. Small Cap Index was down by -4.09% whereas Mid Cap Index corrected by -5.14% for the week.
| Index | Weekly open | Weekly close | Change |
| BSE Sensex | 36,227.14 | 34,376.99 | -5.11% |
| Nifty | 10,930.45 | 10,316.45 | -5.62% |
| S&P BSE SmallCap | 14,430.68 | 13,840.26 | -4.09% |
| S&P BSE MidCap | 14,763.20 | 14,003.81 | -5.14% |
Source- BSE/NSE
| Name | Week | 3Y | Category |
| CANARA ROBECO GOLD SAVING | 11.5% | 4.8% | Fund of Funds |
| DSP WORLD GOLD | 4.3% | 9.3% | Fund of Funds |
| KOTAK WORLD GOLD | 3.9% | 9.4% | Fund of Funds |
| DSP WORLD MINING | 3.5% | 22.5% | Fund of Funds |
| SBI GOLD | 3.2% | 4.8% | Fund of Funds |
Source – Kuvera.in
We saw the most inflows in these 5 schemes –
| Name | 1Y | 3Y | Category |
| L&T EMERGING BUSINESSES | -4.2% | 18.0% | Small Cap |
| HDFC SMALL CAP | 8.5% | 18.4% | Small Cap |
| MIRAE ASSET INDIA EQUITY | 4.0% | 13.7% | Multi Cap |
| HDFC MID CAP OPPORTUNITIES | -4.2% | 11.7% | Mid Cap |
| UTI NIFTY INDEX | 8.0% | 11.1% | Index Funds |
Source – Kuvera.in
We saw the most outflows in these 5 schemes (excluding liquid and short-term schemes) –
| Name | 1Y | 3Y | Category |
| HDFC TOP 100 | 6.2% | 12.6% | Large Cap |
| FRANKLIN INDIA SMALLER COMPANIES | -8.5% | 11.1% | Small Cap |
| ICICI PRUDENTIAL BALANCED ADVANTAGE | 4.3% | 10.0% | Balanced Advantage |
| L&T EQUITY | 0.2% | 8.9% | Multi Cap |
| FRANKLIN INDIA BLUECHIP | 1.5% | 8.9% | Large Cap |
Source – Kuvera.in
1/ Reports suggest that Muthoot Finance has received approval from SEBI to start its Mutual Fund operations in India.
2/ Shridatta Bhandwaldar has been appointed as fund manager of Canara Robeco Infrastructure Fund at Canara Robeco Mutual Fund. He will be replacing Yogesh Patil.
3/ Invesco Mutual Fund has applied with Securities and Exchange Board of India for approval to launch Invesco India Equity Savings Fund
Hundreds of investors ask me questions each year about the dilemmas they confront. Their worst problem? Uncertainty. They are traumatized and become emotional or confused to the state of inaction. Even worse, they try to solve a short-term problem in a way that hurts them financially in the long run.
- Kenneth Fisher
Manvendra Singh Rathore is an Analyst at Kuvera.in: India’s first completely free Direct Mutual Fund investing platform.
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