FY24 has started with a BANG.  The index rallied all three months of Q1FY24 to close at an All Time High at 19189. This when there were talks of global recession and lack of fund flow. However, India has incredibly sustained all these narratives and become a part of the very few countries that have seen an All Time High in 2023.  An all-time high occurrence is an important parameter in the journey of a stock or an Index as the probability of continuation becomes very high for the ensuing period.

Nifty gained over 10% this quarter but the real action was concentrated in the larger markets. Smallcap 250 and Midcap400 index gained 20% and 18.7% respectively. Nifty Next 50 also gained 15.8% notable.

For Q1FY24 within Weekendinvesting strategies notably, Mi20 was up 29.1%, Mi50 and Mi35 up 23.8%, NNF10 up 20.9% and Mi30 up at 17.9%.  All other strategies performed in line or beat the respective benchmarks.

Our belief in the concept of BBC (Bhav Bhagwan Che), a Gujarati saying which means that “Price is God” helps us follow the markets in a non-discretionary manner and we allow the markets to do the talking. This has been our sole mantra in the last 7+ years that we have been offering these services. Our non-discretionary approach at times can lag the markets when markets make trend changes but over time, we have seen this perform much better than many other styles of investing. The historical CAGR returns experienced by clients and the resulting thousands of testimonials are proof to this claim.

Premiums on valuation as measured by many market experts are certainly way down from peak 2021 levels this giving confidence to market men that there is much more head room before India market may again be called an expensive one. Corporate results have been robust and the growth of the GST and tax collections at the govt levels also exude confidence. A near normal monsoon, reducing inflation and overall calm in the global headwinds can help us consolidate this position over this quarter.  We expect more foreign direct flows towards India vs China and more focus by Indian Diaspora towards local investing. Real estate segment has also seen a massive pick up in the last few quarters and despite the higher repo rates the confidence there suggests a long rally has started there as well which usually coincides with improving of economy and expectations of a strong government ahead of the election year.  

At Weekendinvesting, we will continue to do what we have been doing without worrying too much about these forecasts as we believe our strategies over a long course of time are self-correcting and will come around strongly after any volatile year that we may face as has been the history so far. The overall demand and credit growth in the economy remains robust, the narrative of global fund managers on India for the path forwards remains positive and the domestic flows remained largely unaffected despite global headwinds of recession

This quarter we plan to upgraded our content delivery through YouTube and other channels to meet our target to educate youngsters on importance of saving, investing and having a planned approach. We have also upgraded our daily Market Update series and are working towards more means of engagement with our users. We are also studying incorporating the use of AI in our customer support to better our response times.  We hope all these efforts towards an informed user along with all support at the click of a button will empower Weekend investors to have more confidence in momentum investing and to make the core of their investing around this theme.

We strongly believe in the long-term India story and we believe that momentum strategies will ensure that we are riding the winners when it is favourable to us and defending our position when it isn’t.  At all times, we are ready with a PLAN.

All the best.

Mi India Top 10 Performance

Mi India Top 10 is a Low Churn – Monthly Rebalanced – Rotational Momentum strategy that invests in Top 10 trending stocks from the robust Nifty 50 Universe. Nifty 50 is India’s premier benchmark index for stocks that are ranked as Market Cap of 01st to 50th on the NSE and is rebalanced twice a year. This strategy does not go to cash like other strategies in a downturn but attempts to extract some more beta from this group by staying with the strength within this group. The strategy allocates 10% weight at the beginning of each month to its ten constituents and rebalances it each month. The strategy is available in the smallcase format.

• Mi India Top 10 had a superb outing in Q1 FY 2023 outperforming Nifty 50. The former returned 11.2% compared to 10.5% on Nifty 50.
• Since the strategy launched back in Aug 2022, we have seen a bit of underperformance but we do hope that the strategy will be able to compensate over a longer time frame. In the eleven months since launch, Mi India Top 10 has recorded a CAGR of 4.5% as compared to 12.3% on Nifty 50
  
  Mi India Top 10 Intro Video | Mi India Top 10 Blog Post | Mi India Top 10 Consolidated Document

Mi NNF 10 Performance

Mi NNF10 is a rotational momentum strategy based on the Nifty Next 50 large cap index. It is a great substitute for capital that seeks investing in the indices. Nifty Next 50 is an index for stocks that are ranked as Market Cap of 51st to 100th on the NSE and is rebalanced twice a year. These large cap stocks have a higher volatility than the Nifty stocks. This strategy does not go to cash like other strategies in a downturn but this strategy is able to extract some more beta from this group by staying with the strength within this group. The strategy allocates 10% weight at the beginning of each month to its ten constituents and rebalances it each month. The strategy is available in the smallcase format.

• After a slump back in Jan – Feb 2023, Mi NNF 10 has staged a remarkable comeback to clock 21% in Q1 FY 24. In the same period, the strategy’s benchmark (Nifty Next 50) returned about 16%.
• Mi NNF 10 was launched back in Nov 2022 and has recorded a fantastic returns of 66.8% over a period of 2.5 years compared to 50.6% on the Nifty Next 50 Index.
• The strategy has recorded a very strong CAGR of 22% compared to 17% on it’s benchmark (since launch)
  
  Mi NNF 10 Intro Video | Mi NNF 10 Blog | Mi NNF 10 consolidated Document

Mi EverGreen Performance

Mi Evergreen is a dynamic strategy which aims to outperform the underlying benchmark CNX200. This index comprises 200 large and mid-cap names which are the top-quality stocks in the markets. This product is suitable for use in all stages of the market cycles as it is designed to invest in the strongest stocks in the pack at any point. Additionally, there is a permanent hedge of Gold available here.

• This Gold hedged strategy has also outperformed it’s benchmark, the CNX 200 index in Q1 FY24 recording 14% gains as compared to 12.2% in the latter.
• Mi EverGreen , since launch on 27 Dec 2021 has returned 25% compared to 12.1% on the CNX 200 index.
• The CAGR of this strategy stands at a healthy 16% as against 7.8% clocked by the CNX 200 index.
  
  Mi EverGreen Intro Video | Mi EverGreen Blog Post | Mi EverGreen Consolidated Document

NG 5050 Performance

This portfolio invests in Nifty and Gold ETF in equal proportion and balances the weights every month. It is designed as a FREE alternative to market instruments that despite having higher risk are unable to deliver appropriate returns.

The strategy highlights the high inverse correlation between Nifty and Gold and how combining the two can result in a very low volatility outcome with superior returns than most low risk strategies. The strategy allocates equally to the two asset classes and rebalances it at the end of each month. The strategy is available only in the smallcase format.

• NG 5050 had an sub par Q1 FY 24 after almost mirroring Nifty 50 till about end of FY 23. This strategy has proven to remain quite stable at all market scenarios owing to the 50% exposure to GOLD at all times.
• The highlight of this free strategy remains it’s brilliant CAGR at 11.9% at a much lower drawdown compared to Nifty 50. These credentials make this strategy a brilliant option if you are looking for a low turbulent option to provide stability to your equity portfolio.

Mi 20 Performance

Mi 20 is a portfolio of up to 20 stocks that aims to create sizeable alpha with trending stocks from the Mid-Small Cap 400 Index using the principles of Rotational Momentum. The strategy is rebalanced weekly and allocates 5% to each new entrant. The strategy is only available in the smallcase format.

• Mi 20 has emerged as the table topper this Q1 FY 24 with a staggering returns of 29.1% compared to 18.7% in case of it’s benchmark – Mid-small 400 index. This strategy has been super popular among masses and has rightly justified its popularity by delivering a solid result.
• Since it’s launch in July 2021 (2 years), the strategy has recorded gains of almost 57% compared to only 25% on the Mid-Small 400 index staging a great outperformance
• The strategy’s CAGR stands at a phenomenal 27% as against 12% on it’s benchmark.
  
  Mi 20 Intro Video | Mi 20 Blog Post | Mi 20 Consolidated Document

Mi 50 Performance

The Mi 50 is an up-to 50 stock weekly rebalanced portfolio that follows momentum trends among small cap and mid cap stocks only. These stocks are filtered for average min volume and market capitalization above 1000 crores only. The stocks that are picked are allocated an exposure of 2% per stock in the portfolio. This is one of our very popular portfolios and it has consistently outperformed the benchmark index by a wide margin despite the large diversification. This strategy is balanced weekly and is available in both the Universal and the smallcase format.

• Mi 50 has been one of our oldest and most popular strategies. This strategy has also outperformed it’s benchmark clocking 23.7% compared to 18.7% recorded by it’s benchmark – the Mid-small 400 index.
• The strategy went LIVE on Smallcase platform back in Feb 2021 and has recorded an outperformance of 72.9% while the Mid-Small 400 index clocked 55.8%. This – upto 50 stock diversified portfolio has also clocked a fantastic CAGR of 26.5% compared to 20.9% on it’s benchmark.

Mi 25 Performance

Mi 25 is an up-to 25 stock weekly rebalanced portfolio that follows momentum trends among small cap stocks only. These stocks are filtered for average min volume and market capitalization above 1000 crores only. The stocks that are picked are allocated an exposure of 4% per stock in the portfolio. This is one of our very popular portfolios and it has consistently outperformed the smallcap index by a wide margin. This strategy is balanced weekly and is available only in the smallcase format.

• Mi 25 has lagged the underlying since launch but strong momentum markets have always propelled the strategy to put up great performances as we have seen several times in the past. In Q1 FY 2024, the strategy has returned 15.3% compared to 20% on Smallcap 250 index.
• Since going LIVE on the smallcap platform on 04 Aug 2020, Mi 25 has clocked a decent 123% & CAGR of 31.8% compared to 140% of absolute returns & CAGR of 35% on it’s benchmark – the Smallcap 250 index.
  
  Mi 25 Intro Video | Mi 25 Blog Post | Mi 25 Consolidated Document

Mi 35 Performance

Mi35 is a dynamic strategy which aims to outperform the underlying benchmark Smallcap250 index. These are the 251st -500th stocks in the market place. This product is suitable for use in all stages of the market cycles as it is designed to remain invested in the strongest 35 stocks in the pack regardless of market conditions

• Mi 35 has been another solid performer this Q1 FY 24 clocking 23.8% compared to 20% on the Smallcap 250 index. Both Midcaps and Smallcaps have led the up trend this quarter and all strategies based on these market cap segments have fortunately been able to make the most of this rally to put up spirited performances.
• Since going live in 15 July 2021, Mi 35 has put up absolute returns of 42% at a very healthy CAGR of 26.5% while it’s benchmark has posted only about 17.4% at a CAGR of 9.1%. Resounding numbers amidst a turbulent period has made this strategy another crowd favorite.
  
  Mi 35 Intro Video | Mi 35 Blog Post | Mi 35 Consolidated Document

Mi 30 Performance

Mi 30 is an up-to 33 stock weekly rebalanced portfolio that follows momentum trends among constituents of the CNX500 index. The CNX500 index comprises the largest 500 stocks in the NSE universe. These stocks are filtered for average min volume and market capitalization above 1000 crores only. The stocks that are picked are allocated an exposure of 3% per stock in the portfolio. This is one of our very popular all cap portfolios and it has consistently outperformed the underlying index by a wide margin. This strategy is balanced weekly and is available in both the Universal and the smallcase format.

• Mi 30 did outperform it’s benchmark, the CNX 500 for couple of quarters post launch but has mirrored the benchmark at the end 2 and a half years (since Feb 2021).
• The strategy has outperformed CNX 500 this Q1 FY 24 recording gains of 17.9% compared to 12.9% on it’s benchmark. The returns of Mi 30 since going LIVE stacks up to 40.5% at a CAGR of 15.5%

Mi MT Allcap Performance

The Mi MT Allcap is a 20 stock weekly rebalanced portfolio that follows momentum trends among all listed NSE stocks. These stocks are filtered for average min volume and market capitalization above 1000 crores only. The stocks that are picked are allocated an exposure of 5% per stock in the portfolio. This is one of our longest running portfolios and has also consistently outperformed the benchmark index by a decent margin.

• After an astounding run since launch and all the way till about Jan 2022, Mi AT Allcap has taken a pause in the last 1.5 years also due to lack of lasting uptrends in the markets. Q1 FY 24 has been quite encouraging with the strategy mirroring the benchmark (CNX 500) at 12.7%.
• Mi MT Allcap has been a super popular strategy owing to it’s consistent performance of 211% at a CAGR of 28% compared to 84% at 14.3% in case of the CNX 500 index.
  
  Mi MT Allcap Intro Video | Mi MT Allcap Blog Post | Mi MT Allcap Consolidated Document

Mi ST ATH Performance

Mi ST ATH is a firebrand upto 10 stock portfolio that follows the short term momentum trends among all listed NSE stocks above market capitalization of INR 1000 cr and chases stocks hitting All Time Highs or multi year highs. The strategy is nimble footed and can have a higher churn.

• Mi ST ATH has garnered immense love from all corners for it’s exceptional performance since going live in Apr 2019. Over 4 years and 2 months, this strategy has delivered an superb 202% at a CAGR of 29.7% compared to a mere 70% at a CAGR of 13.3% on the CNX 500 benchmark.
• The last 18 months of range bound markets have resulted in some choppiness in the strategy but we are hopeful of this strategy doing well again in strong momentum markets. Q1 FY 24 saw some underperformance at 9% compared to 13% on the CNX 500 index.
  
  Mi ST ATH Intro Video | Mi ST ATH Blog Post | Mi ST ATH Consolidated Document

Mi ATH 2 Performance

Mi ATH 2 is a high risk , up to 10 stocks strategy that aims to create sizeable alpha by chasing stocks near their all time or multi year highs from the all listed NSE stocks above Market Cap of 500 crore. The strategy is nimble footed as it seeks to minimize losses by quickly exiting stocks that fail to trend up.

• Like Mi ST ATH, Mi ATH 2 is also a high risk strategy that thrives on strong momentum markets. The strategy was launched back in July 2021 and the markets have remained choppy till about Jun 2023 before finally breaking out.
• Despite the slump in the first year, the strategy has picked up quite well in the last 11 months. The absolute returns are flat at 0% (CAGR of -0.3%) compared to 9.9% on the CNX 500 index.
• What has been encouraging though is the outperformance of Mi ATH 2 in Q1 FY 24 at 15.5% compared t0 12.9% on it’s benchmark.

That’s a wrap on Q1 FY 24 report.

If you have any questions , please send us an email to support@weekendinvesting.com