Drishtant's portfolio was a mess in designer packaging

Drishtant believed his mutual fund portfolio was well-structured—balanced, diversified, and stable. To him, it represented thoughtful investing: no risky direct stock picks, just carefully chosen mutual funds aligned with long-term goals. A product of elite education and privilege, Drishtant had always approached money with a sense of restraint. He wasn’t chasing quick returns. He wanted sustainable wealth—a portfolio that reflected class, not chaos. But one rainy Saturday in Mumbai, with social plans cancelled, Drishtant found himself with unexpected free time. Curious and slightly restless, he logged into Value Research Online and opened the Portfolio tool. What he found challenged many of his assumptions. The revelation He clicked on Portfolio, then Asset Allocation. And what he saw surprised him. Across multiple mutual fund schemes, the same stocks kept appearing. HDFC Bank. Reliance. ICICI Bank. Not once or twice—but seven times, across seven different funds. The illusion of diversification quickly unravelled. Despite investing in a ra

This article was originally published on May 29, 2025.