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We are bullish on markets from next 4 years perspective as earnings growth is picking up and liquidity is going to stay for some time. This doesn’t mean correction is not due, it can happen any time. All equity products are in synch with our broad view. BAF is a hybrid fund and it cannot work like an equity fund. Within the category of funds, equity levels of each fund is very different so returns are also different so there is no apple to apple comparison possible. Higher the risk higher the return in equity, as per our BAF model - it works on p/b valuation, earnings growth trend and volatility. Based on this aspect the equity level has been low since June 2020 for the right reasons and didn’t participate the over valuation zone. Markets will provide volatility and debt to equity allocation happens smoothly when markets become cheap and that is where fund will make money in the long run. The fund is positioned well as per the mandate and will generate the desired results. So stay invested for long term and don’t get swayed by short term results. We are quite confident of the framework and it will work.
What ever may be the condition patience always pays, diversity in portfolio, long term goal, is the need of the hour. every thing will be ok. Jai hind.
What about your bullishness in BAF , you have exited equity portion well in advance... Now at the peak level of Market you are seeing Strong rally.... TOOOOO much poor performance in you BAF...
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