I have invested in Magnum Contra through SIPs. I now want to exit this fund and wish to invest in another fund. What should I do with my investments in Magnum Contra?
- Kallol Bhattacharya
Magnum Contra is a multi cap fund which invests in undervalued stocks, which are out of favour but have the potential to show attractive growth in long-term. This strategy has not been paying well and your concerns to exit this fund are understandable. You can consider investing in HDFC Equity or Quantum Long Term Equity; both are multi cap funds and have a performance history and track record to invest in. You can stop your SIPs in Magnum Contra and start the same in either of these two funds. As for the current investments in Magnum Contra, you can initiate a systematic withdrawal from your current holding to be invested in the new fund you invest in or even consider a complete redemption to invest.