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Exit Magnum Contra

Magnum Contra’s performance has been going down in recent years. Consider switching to another fund

I have been invested in Magnum Contra – G for the past four years. Should I continue investing in it? My investment horizon is of 10 years.
-Aman

Magnum Contra was a very good fund, but it has turned mediocre for the past 1.5-2 years. Since you have been investing in it for the past four years, it is possible that you might not have faced any major losses in it. But looking at the current market situation, you should switch your investments from this fund to another. If you feel that you will need this money in the next 3-5 years, move it to a balanced fund.
To continue your investments, you should pick a good diversified equity fund like Birla Sun Life Frontline Equity or HDFC Equity. The accumulated investments in Magnum Contra can also be put into these funds.

This article was originally published on December 28, 2011.

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