Boinanza Exclusive Growth Scheme is an open-end equity fund. The fund started as a closed-end fund a
05-Jan-2000 •Research Desk
Boinanza Exclusive Growth Scheme is an open-end equity fund. The fund started as a closed-end fund and was converted into open-end on its due redemption. The fund has been an absolute non-performer since its launch in all market weather. Launched at the end of the IPO boom, the fund landed in the leftovers of the IPO party and could not shuffle its portfolio even once. The fund was also one of the last to restructure its portfolio of junk IPO stocks. The fund has been unable to keep pace with the broad market averages . In calendar 1999, the fund has gained with the market and up 62 per cent. The fund riding the recent spurt in market, has for the first time been been able to move ahead its face value on January 3,2000. Investors should capitalise this opportunity to exit the fund.