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Markets Continue To Remain Volatile, Sharp Rebound In April

PMS

We are pleased to share with you an update on our performance for the month of April 2020. Our performance compared favorably within the PMS universe (as tracked by PMS Bazaar) and relative to major mutual fund categories. (Table 1, Table 2). However, we are not happy with the absolute returns we have generated over the last one and three years. Our mandate gives us clear freedom to do better. 

Stocks rebounded sharply in April, on the back of a flattening pandemic curve and positive results from a clinical trial carried on throughout the world. Our performance for the month of April improved marginally compared to various indices that we benchmark against. However, as we mentioned in our previous update, these numbers will remain volatile for the near future. 

We have been able to materially outperform the relevant benchmarks over one and three year periods as well as since inception (Table 4, 5) However, we reiterate that we are not happy with the absolute returns we have generated. High portfolio turnover for financial year March 20 is a result of cash call we had to take towards the end of the year. 

We have also delivered health risk adjusted performance versus the benchmarks. (Table 6).

Disclaimer : The information contained in this newsletter has not been verified by SEBI.

Q. Is it compulsory for the investors to use the new handle only? 
Ans. The investors can choose their preferred mode of payment, such as UPI, IMPS, NEFT, RTGS, or Cheques. If an investor opts to use UPI for the payment to registered intermediaries, then they have to do so only using the new UPI IDs allotted to registered intermediaries. 

Q. What should investors check while making payment using the new UPI IDs/ QR Code? 
Ans. Investors need to keep following things into consideration: 
1. The UPI ID should properly show the name of the intermediary, followed by the short abbreviation of their category for example “brk” for Brokers, “mf” for Mutual Funds to the left of the “@” character. 
2. On the right side of the “@”, the new and exclusive handle “@valid” should be present, followed by the bank name. 
3. On the confirmation screen, the app should show a white thumbs-up icon inside a green triangle. 
4. The QR code generated using the utility will have a white thumbs-up icon inside a green triangle. It will also display the UPI ID just below the QR code. 

Q. Do investors also need to obtain new UPI handles to transact in the securities market? 
Ans. No, the new UPI IDs are only for intermediaries to obtain and investors can continue to use their existing UPI IDs. 

Q. Whom to approach if my transaction/ payment fails with the new UPI ID? 
Ans. The secure validated UPI ID of intermediaries will use the same banking channel as the earlier generic UPI handles. In case of any technical difficulty, investors are requested to approach their respective bank.

Q. What is the UPI transaction limit?
Ans. The transaction limit is 5 lakh and cumulated daily limit is 10 lakh.

Among The Most Successful Professionals In Equities; Rated The #1 Technology Sector Analyst In Institutional Investors Polls For A Decade. Highly Respected Among Peers For His Path-Breaking Work And Thought Leadership. Rose From An Associate To Managing Director Within A Span Of Six Years In The Investment Banking Industry

Twenty Years Of Experience Building Top Research Franchises: Seven Years As Managing Director And The Global Head Of Technology At JP Morgan, Six Years As Director And Head Of Asia Pacific Technology At Credit Suisse And Five Years As Founder Of Equirus SecuritiesTrack Record Of Innovation And Excellence In Equity Research

Anchored The Rise Of Credit Suisse  From An Unknown Name In Asian Equities To A Number One Ranked Firm In Asian Equities; Head Of Asia Pacific Tech Research

Credited For Building Top Ranked Global As Well As Asian Tech Research Practice At JP Morgan As MD And Global Head Of Tech Research; Made Defining Contribution To Enable JPMorgan To Move From An Also-Ran Player To A Top Global Name In Equity Research

Built A Very Profitable And Award Winning Indian Equity Business At Equirus From Scratch On A Tiny Budget; Achieved Number Two Ranking In Asia For Idea Performance

Impeccable Track Record Of Identifying True Long Term Winners Ahead Of Others Including Samsung Electronics, TSMC, Infosys And TCS And Guiding Investors To Stay Clear Of Laggards Such As UMC And SMIC Years Ahead Of Consensus.

Mind Of An Engineer, Worked In A Team That Designed The World’s Fastest Microprocessor With A Manta “Paranoia Is The Safest Frame Of Mind”. Awarded Two US Patents.

Work Experience Of Designing The World’s Fastest Microprocessors Based On Cutting Edge Technology For Which He Jointly Holds Two US Patents

Best In Class Business Education From The World Renowned Business School: Double Major In Economics And Finance, Beta Gamma Sigma Cum Laude From The University Of Chicago Booth. Excelled In Studies Under World Renowned Faculty Such As Dr. Raghuram Rajan, Former Governor Of The Reserve Bank Of India