Launched in 1996, this fund has seen it all - from the dot-com bubble, to the infra-fuelled rally of 2007, the global financial crisis that followed soon after, and more recently the pandemic induced shockwave that sent tremors through the markets only to make way for the most unanticipated bull runs in its history. Over these years, it has given its long-time investors more reasons to feel happy about than otherwise. And yet after all these years of toil, here it is, going through the most prolonged phase of underperformance in its history and having to prove its worth all over again. We believe investors should withstand the pain of underperformance and hold on to their convictions, just like its old-time fund manager. Despite a severe bout of underperformance which has pushed this fund to the bottom of the category this year, Ajay Garg has stood rock-solid behind his investments - a trait you don't often see among fund managers these days given the short-term performance pressures. And we hope he and his investors emerge smiling, as they often have through such phases in the past. He has been managing it for 15 years now, making him one of the most tenured fund managers in the category of ELSS funds. Read this interview where he shares his views on his investment strategy, the reasons for underperformance and what can catalyse a comeback. We
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How's my portfolio doing? What do I need to fix? Where should I invest next? Fund Advisor answers each one. The Advisor Note every Saturday. A live session with Dhirendra Kumar every second Saturday.
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