I want to know about the mutual fund schemes of SBI. They have performed poorly in the recent past. Also, how will the Fidelity schemes perform after L&T takes over?
SBI's equity schemes have been doing poorly of late, particularly Magnum Tax Gain and Magnum Contra, both of which were very popular. They are showing some symptoms of a revival, but not of a significant kind. On the other hand, SBI also has funds that are doing outstandingly well. SBI Magnum Emerging Business has been the best-performing equity fund in the past 1 year. So there are good funds and bad funds, and it would be wrong to generalize.
Coming to Fidelity, there will be a change in fund managers once L&T takes over completely. The change in ownership will be a significant thing, and it remains to be seen whether L&T will be able to replicate the processes that have worked so well for Fidelity.