Mi50 got a nice start to the new financial year 201718. It closed up 2.28%. In the first week itself more than 5 counters have clocked double digit gains. One stock was exited and another added today. The details of all changes will be available at the end of the month report.
After last FY performance, the expectations have run very high. The long term targets for this strategy are around 20% CAGR so I will not be surprised to get a dull result this FY, though there is no way of ascertaining that. Yet I can say that I will add aggressively if we are anywhere near 15% or so in drawdown in the coming year.
The strategy has 45 components on date and cash at 0.21%. The internal are as follows for the current FY:
The one exited trade from its purchase in 201617 was up about 72% on exit with dividends adding up-to to approximately 18%. All in all that was a great trade.
Trump continues to wag the dog from its tail and April and May can turnout to be globally weak months. Lets see if strength in Indian markets can overlook that.
I had also started a new product Mi25 last week and that has performed remarkably well in the first week. I am hoping to make the product available for subscribers before the end of the month.
Have a Happy Weekend!
Looking at MSCI EM Asia Index move, Love for India structural story among Global Fund Managers and USDINR’s rocket move it looks very very difficult that we will get even 1-2 week(s) correction. Lot of hot money will jump even if we see 100/150 points Nifty decline from its all time high.
I am 100% invested so in any case correction/no correction makes no difference to me :-).
Don’t expect dull year in this kind of market :-).