June last year.
I have around 10%+ as of today.
Thanks Nishanth. i have started with them last month as well and I see all your points mentioned reflect in tje portfolio
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Hiā¦If i want to start with them for the 25L minimum investingā¦how much fee will i incur in one year?
2point2 capital is the best PMS i know till date
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Because it looks to avoid fraud companies
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yes 2point2 has been doing a great job in understanding fradulent cos. Their investor letters are also a good read. Their recent success shorting jet has again put them in the limelight. The first time they shorted the stock went up and they had to cover but the next time they were successful.
Most big name investors would advise against shorting though and that would remain a concern if you invest in their long short fund. They also avoid expensive stocks which is good. In one of their letters they had done a detailed analysis of expensive stocks and subsequent returns which was also a good read.
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You canāt invest in their long short fund, itās not open to outside investors I believe.
Can someone point to details of taxation on Category III AIF. Is it preferred by the successful PMS managers compared to PMS? if yes why?
Are AIF returns disclosed to public separately, or combined?
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All August results are not out. However, I find that from Jan 19 to Aug 19, Club Millionaire doing very well. Basant Maheshwari is in positive, better in August. 2point2capital is now almost zero ytd after bad July. A new kid on the block , Marcellus ( Saurabh Mukherjea ) giving very consistent numbers and now almost 8-10% up.
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What happened to Porinju?
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In August ,they are down by - 2.69%.
So Some body who fully invested in Jan 2018 in Porinjuās portfolio ,would have their portfolio value eroded by 55.7% by August 2019.
It shows that investing based on past returns alone is dangerous and one should choose the PMS funds based on their risk appetite
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Marcellus started in Decā18 and its less than a year. Its tough to take a call with such short span. Still they have almost 500 clients, which is more than 2P2 or BM. So certain positives that they are growing faster by delivering (or atleast protecting the base).
2P2 & BM have almost similar assets to manage, while 2P2 still growing in no of clientsā¦ BM is stagnant. One major reason will be portfolio size.
Overall PMS performance also looks likeā¦ timing the market at lowest levelā¦ I did play with some data for last 2 years or soā¦ and looks like we get huge variation in returns based on entry time.
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Hi Bheesham ji,
Can you point me towards the letter please? If my understanding is right, they also put up their letters online.
You can find all their letters here under the investor update section Value Investing | Low Fixed Fees | Strong Returns | 2Point2 Capital
I think this letter is the one Bheeshma was referring to: https://2point2capital.com/Investor-Update-Q3-FY19.pdf
Reproducing the most relevant table from the letter
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All their letters can be found at https://2point2capital.com/invest-with-us.php
In the letter below they write about expensive stocks etc. Their letters are a good source of information
Best
Bheeshma
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Is it a new beginning for PMS? My view is that we shouldnāt go by such numbers / articles posted in a while. As PMS is supposed to be long term strategy, your analysis must be based on historical performance of various available options. Having said historical performance doesnāt guarantee but certainly provides much needed confidence to hand over big chunk of your hard earned money to someone else for better growth prospect.
I agree with you. What I see is that drawdown in Marcellus seems to be lower than others. Still very early days. I am not subscribed to any PMS but, as of now, this one looks interesting. Many PMS, including Basant, seem to be heavily dependent on Bajaj Finance and this disproportionate allocation to 1 stock may be a risk.
yeah concentration can kill if goes wrong
Earliest it was PNB Housing Finance & Canfin Homes for Basant and now its Bajaj Finance.