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Maimed on Halal Street

It's only when the tide goes out that you discover who's been swimming naked:Warren Buffett
Though we can't say whether the tide is actually over or not, some funds have definitely lost their shirt (at least) in the recent crash

It's only when the tide goes out that you discover who's been swimming naked: Warren Buffett
Though we can't say whether the tide is actually over or not, some funds have definitely lost their shirt (at least) in the recent fall.
Here's the list of five funds that were butchered on Dalal Street between May 10 and May 22, 2006:
Taurus Discovery Stock
Loss: 25.04%
That Taurus Discovery Stock has lost a quarter of its portfolio is hardly a surprise. With assets spread over select few stocks, the fund behaves more like a stock rather than a diversified equity fund. Till May 22 this year, the fund was down 10.49 per cent as against the category average return of 9.97 per cent. For investors, the fund is still to discover anything significant.
Canemerging Equities
Loss: 22.27%
A concentrated portfolio led by mid- and small-cap stocks has come in way of this fund's emergence as a credible option for equity funds' investors. With more than half of the assets allocated to only five stocks, this fund's fortunes are bound to see wild gyrations. Over 75 per cent exposure to mid- and small-cap stocks is not going to help either.
Magnum COMMA
Loss: 21.99%
Huge exposure to metal stocks has led this new fund down. However, in a short existence, Magnum COMMA has done well. The six month's trailing return of 28.32 per cent places the fund in the top quartile of the diversified equity funds' category. We hope it's not a fullstop for Magnum COMMA. BOB Diversified
Loss: 21.70% Another fund that seems to have paid a price for maintaining a concentrated portfolio. Launched in March last year, the fund has started its life as a laggard.
LICMF Equity
Loss: 21.50% Tough to beat this fund's inconsistency. The recent bull run had made the fund's return look somewhat respectable on a standalone basis. But a 4.03 per cent annualised return since launch way back in February 1993 proves that the fund has regularly lost its shirt in tough times like these.