Just a follow up on my last post - My portfolio returns in the last six months below. Please bear in mind this is a concentrated portfolio not aligned to any benchmark however for comparison I have compared it with Nifty. Also, portfolio initiated in mid october with continous ramp up of AUM from Nov to Apr. I guess clearer picture would be to see this portfolio six more months down the line once it is properly seasoned.
| Return | Benchmark Return | Alpha | |
| October-11 | -2.08 | 9.84 | -11.92 |
| November-11 | -2.59 | -9.28 | 6.69 |
| December-11 | -7.33 | -4.30 | -3.03 |
| January-12 | -3.05 | 12.43 | -15.48 |
| February-12 | 7.97 | 3.58 | 4.39 |
| March-12 | 1.66 | 1.9 | -0.19 |
| April-12 | 0.38 | 0.9 | -0.56 |
So you can see 7 data points. 3 months of under performance, 2 months of out performance and 2 flat months. October was when there was very little in the portfolio. Power Grid and BoB did well while PFC, Coal India, BHEL underperformed.
Nov was pretty good in terms of max Alpha. 669bps out performance to Nifty. Largely thanks to Power Grid, BoB, TCS, CIL, LT and ONGC.
Dec a drag due to RIL PFC, LT and Adani Ports (some Scam news). Used the opportunity to buy more.
Jan was worst month because markets rallied, was still in portfolio build up mode and BHEL PFC continued to lag.
Feb was again a 439bps outperformance to Nifty mainly due to rally in BoB PFC (used to exit partially), LT (sold off to buy later), TCS etc.
March flattish as gains from HUL ITC were set off by weakness in MM which held steady so far. I continue to hold it. Mid caps like TTK also underperformed but next month they performed , used to exit.
April Auto pack good with hero doing well and TCS steady. Sold Sun, Nestle and TTK for decent gains. Drag due to LT BHEL Hindalco.
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