rediff.com
rediff.com
Money Find/Feedback/Site Index
      HOME | MONEY | MUTUAL FUNDS | FUND FILE
July 28, 2000

Books
Columnists
Insurance
Interview
Mutual Funds
NRI
Personal Finance
Personal Banking
Real Estate
Stocks
Tax
Travel

E-Mail this report to a friend

Ind Sagar

Dhirendra Kumar

Ind Sagar is a ten-year closed-end equity fund of the Indbank Mutual Fund due for redemption in September 2001. Currently the fund is open for repurchase at a 5 per cent discount to its NAV. The fund is very infrequently traded in the markets. Ind Sagar has since its launch till date given an annualised return of 5.4 per cent as against a 11.9 per cent by the BSE Sensex.

The fund has been an absolute non-performer in its long history of almost nine years. After its run with the market in its first four years, the fund never recovered from the 1994 market slide led by the IPO debacle. The fund was unable to clean its portfolio for many years and the NAV only fell over the years from a high of Rs 28.81 in November 1994. Besides the fall, the portfolio was largely saddled with low quality equities -- small and mid-cap stocks, till March 1999.

The fund does not disclose its full portfolio frequently, however, since the 1999 till March 7, 2000, before the downslide triggered by the tech wreck the fund gained 85 per cent. The long-term prospects of the fund is bleak. Even if the fund would have taken the opportunity of weeding out its illiquid stocks in the surging markets of 1999, investors should exit the fund in favour of other funds with superior performance track-record.

Fund Basics          
Objective Size (Cr) NAV: 12/7/2000 Mkt. Price Prem./Disc. Total Returns (%)
Growth 20.46 15.95 14.2 -11% 5.39%
Benchmark Comparisons (%)        30/6/2000
  1M 3M 6M 1Yr 3Yr
Fund 7.1 -6.9 0.3 42.3 8.7
Nifty Tot. Ret. 6.7 -3.1 0.2 29.0 8.8
Sensex 7.1 -5.0 -5.1 14.7 3.7
Obj Avg 9.6 -18.2 -13.2 35.3 12.4
Top Holdings (31/3/1999)          
A T V Projects India          
Abhishek Industries          
American Dry Fruits          
Arvind Mills          
Asea Brown Boveri          
Asian Consolidated Inds.          
Asian Fertilizers          
Asian Industries & Enterprises Sa          
B P L Engineering          
B P L Refrigeration          
B S E S          
Balaji Industrial Corpn.          
Balrampur Chini Mills          
Baroda Rayon Corpn.          

Source: Value Research

Fund File

Tell us what you think of this feature

HOME | NEWS | BUSINESS | MONEY | SPORTS | MOVIES | CHAT | INFOTECH | TRAVEL
SINGLES | NEWSLINKS | BOOK SHOP | MUSIC SHOP | GIFT SHOP | HOTEL BOOKINGS
AIR/RAIL | WEATHER | MILLENNIUM | BROADBAND | E-CARDS | EDUCATION
HOMEPAGES | FREE EMAIL | CONTESTS | FEEDBACK

Disclaimer