What’s your view on the future of Magnum IT ?
- Nilesh Patel
The fund is an aggressive bet within the tech space. It has a very concentrated portfolio with mid and small caps garnering almost 50 per cent of its holdings. But its returns have not been in sync with its risk. From October 2008 to April 2009, the fund has shed 30 per cent (category average: - 20%). The fund has seen a lot of fund manager changes, with a new manager at the helm since September 2008.