May 2017 – Mi50 update

It was a tumultuous month. We started the month up at +7.4% but ended it at +2.52%, a drawdown of -5.66% from the peak.
image (7)
The max drawdown experienced was -8.52% on 24 May. The mid cap and small cap indices dipped heavily and so did our strategy.

image (8)image (9)

The out performance of the strategy so far for the FY was all lost and we are now trailing the benchmark indices for the year.

The stocks that were added this month are :

ARVSMART
CENTRALBK
MIRZAINT
STARPAPER

and the ones that we parted with are:

SHILPI
JENSONICOL
GOLDENTOBC
POLYMED
PNBGILTS
DHAMPURSUG
DHANUKA
HINDOILEXP
MERCK

A notable loser was SHILPI where in the sequential lower circuits did not allow exit even much beyond the exit signal day.  That position lost around 55 percent, the worst so far in the last 14 months of this strategy. Overall, things are still quite stable and with almost 7% cash in hand (LiquidBees), the strategy is doing well in keeping some powder dry for the next add-ons.

 

The distribution of current stocks (from 31st Mar 2017):image (10)

Notable gainers this FY are Motilal Oswal, JayBharat Maruti and Swaraj Engines while the top losers are Kopran, Triveni and CentralBk.

Till next month end, stay good!

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