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Sneha Suri: So here we are with the September edition of Subscribers' Hangout. And let's get started by answering your queries. So, starting with the first question. Jinesh Gopani has resigned as fund manager from Axis Equity. What is your advice to your subscribers who have his managed funds in their portfolio? Dhirendra Kumar: Yes, it has been very disappointing, whatever has happened with Axis, and it was completely unexpected. And the fallout of such a thing might have a very significant impact on the morale of people or the direction. But it also happened at a time when it was very inappropriate because the strategy followed by most equity funds of Axis is something which has worked for them. And it has been completely out of favour and very substantially out of favour because other things have done well. So it looks all the more glaring. That is one of the reasons. But we fundamentally believe in the design of mutual funds as a structure. Nobody can steal your money. Of course, we have seen that, you know, some misstep has happened. And SEBI order is also a hanging sword. It can take very long for it to crystallise what will happen. So it might linger. But I think primarily because their strategy is out of favour, and the best days might be around the corner or some time away, we will wait to actually take a stand on whether we should call it quits or not quit that fund. But certainly not now. Sneha Suri: The next question is from our user, Bimal. And he asks, in the portfolio planner, you are recommending some part of equity investment in NASDAQ fund to provide for geographic diversity so that if there is a sharp decline in the Indian equity, the portfolio does not suffer to a large extent. However, the way everyone is bullish on the Indian economy, everyone is calling it a once-in-a-lifetime opportunity. So he's actually asking, won't it be prudent to invest only in Indian equity in the near future? Ashutosh Gupta: No, indeed, everybody, including us, is bullish on the Indian econ
This article was originally published on September 14, 2023.
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