Mi50 Q2FY17 report +10.36%

Q2 July to Sep 2017 quarter has been quite a subdued ride for the Mi50 strategy.  We started the period at +7.9% absolute gain and ended the period at +10.36%.  The CNX50/ CNX500 also moved from +3.8%/+4.2% to +6.7% /+7.6%  in the same timeperiod.

The performance of Mi50 has largely been in line with the market and has not been able to create any out-performance in this quarter.

chart (59)

The max drawdown witnessed during the period was -10.88% on 11 Aug 2017 while the highest point was +14.21% on 20 Sept 2017. chart (61)

The stocks that powered the mi50 performance the most and which continue in the portfolio this year are..

BBTC 49.41%
MOTILALOFS 78.28%
GRAPHITE 208.70%

while some of the key existing laggards are..

MURUDCERA -15.99%
VADILALIND -12.58%
EVERESTIND -10.50%

Like any other system, Mi50 derives its advantage by outpacing the losers by a wide margin in each win. The current FY stats on the internals are :

Wins Avg Losses Avg
Invested 31 24.43% 10 -7.30%
Exited 18 1.29% 40 -10.56%

The strategy has 7.3 % cash at the end of the quarter.

Some of the best picks of Q2

KAMATHOTEL 22.12%
CGCL 29.13%
GRAVITA 32.70%
SAKUMA 43.32%

 

and worst

VIPULLTD -18.29%
MURUDCERA -15.99%
SUDARSCHEM -13.36%

other notables stocks picked and exited are:

JAYBARMARU 22.34%
CORDSCABLE 33.94%
SWARAJENG 34.75%
MEP 51.80%

The current trade distributions:

chart (62)
The outlier gainer here is GRAPHITE at 3X+ gains.

Overall it has again been a dull second quarter for Mi50 this FY after a spectacular performance last FY ( Full year report 2016-17). We shall still hope to achieve 20% plus growth this year.

Have a great Q3 FY17!

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