When will PPFAS will launch a new scheme?
Only if, PPFAS is excited about putting their own money & can add value to investors
Right now, there is no plan to cut any more expense ratio.
#PPFAS
#NewFundoffer? nops
Only if, PPFAS is excited about putting their own money & can add value to investors
Right now, there is no plan to cut any more expense ratio.
#PPFAS
#NewFundoffer? nops
3/n
Flashback to March 2020. Rajeev is a storyteller!!
Talks about March 2020 and trailing returns were looking sub-optimal.
This too shall pass. (Used for March 2020 and in equal vocal force used for Sep 2021 as well)
Flashback to March 2020. Rajeev is a storyteller!!
Talks about March 2020 and trailing returns were looking sub-optimal.
This too shall pass. (Used for March 2020 and in equal vocal force used for Sep 2021 as well)
4/n
mentions an example of a doctor in the mid-'50s calling Rajeev asking, if he can get the same return of 50% as last year. Get's an answer as No:)
#Greed
mentions an example of a doctor in the mid-'50s calling Rajeev asking, if he can get the same return of 50% as last year. Get's an answer as No:)
#Greed
11/N
#PPFAS
Gets About 900 crore (best month) in a month. About 600 to be deployed in 30 days in India and 300 crores outside.
Mentions about IEX block deal, CDSL block deal. Not all blocks are reported. The path from 17K to 30K crore doesn't change anything.
#PPFAS
Gets About 900 crore (best month) in a month. About 600 to be deployed in 30 days in India and 300 crores outside.
Mentions about IEX block deal, CDSL block deal. Not all blocks are reported. The path from 17K to 30K crore doesn't change anything.
12/N
#PPFAS
Question on Pure global fund
No plan to launch any further scheme. Rather use the limit in Flexi cap fund.
#PPFAS
Question on Pure global fund
No plan to launch any further scheme. Rather use the limit in Flexi cap fund.
13/N
#PPFAS #PowerGrid #IEX #Auto #EV
Talks about Power and auto sector.
Mentions Tony Seba!! The Guy is amazing.
The Grid
#PPFAS #PowerGrid #IEX #Auto #EV
Talks about Power and auto sector.
Mentions Tony Seba!! The Guy is amazing.
The Grid
14/N
#IEX
Shift to spot buying electricity market from long-term trades. happening because of the nonpredictable nature of renewables. Electricity traded on IEX shall grow faster than overall electricity generation.
Keep watching regulatory space, don't have the answer to it.
#IEX
Shift to spot buying electricity market from long-term trades. happening because of the nonpredictable nature of renewables. Electricity traded on IEX shall grow faster than overall electricity generation.
Keep watching regulatory space, don't have the answer to it.
15/N
#IEX
Pricing may come down and it should be expected and not unduly worried about.
on the valuation front, 200 Rs level( where maximum purchase happened), the run-up is sharp and strong at 800. Not Buying at the current level.
#IEX
Pricing may come down and it should be expected and not unduly worried about.
on the valuation front, 200 Rs level( where maximum purchase happened), the run-up is sharp and strong at 800. Not Buying at the current level.
17/N
#PowerGrid #PPFAS
The power grid works on the business model of managing capacity. Draws monthly fees example of OTT.
because of renewable energy unpredictability due to mixed change, a company like power grid has an opportunity to incur CApex and increase capacity.
#PowerGrid #PPFAS
The power grid works on the business model of managing capacity. Draws monthly fees example of OTT.
because of renewable energy unpredictability due to mixed change, a company like power grid has an opportunity to incur CApex and increase capacity.
18/N
#powergrid #PPFAS
on debt level
These utility companies have high leverage and it is not considered risky because the business is predictable. Example of Covid doesn't impact Power Grid business.
#powergrid #PPFAS
on debt level
These utility companies have high leverage and it is not considered risky because the business is predictable. Example of Covid doesn't impact Power Grid business.
19/N
#powergrid #PPFAS
On being Public sector
Not their favorite choice (govt being holder), but given the monopoly and govt is actually focusing on turn around + privatization theme.
made sense to buy a Power grid looking at the intent as well of govt.
#powergrid #PPFAS
On being Public sector
Not their favorite choice (govt being holder), but given the monopoly and govt is actually focusing on turn around + privatization theme.
made sense to buy a Power grid looking at the intent as well of govt.
20/N
#Powergrid #PPFAS
Chances of increasing shareholder return by the public utility company. Mentions examples of how Powergrid spun off some assets and released a lot of cash.
An increase in capacity addition will come for multiple reasons. EV + renewables + GDP Growth.
#Powergrid #PPFAS
Chances of increasing shareholder return by the public utility company. Mentions examples of how Powergrid spun off some assets and released a lot of cash.
An increase in capacity addition will come for multiple reasons. EV + renewables + GDP Growth.
26/N
#portfolio #allocation
what does a <1% weightage add to fund in terms of value.
Pharma space is low. They look at generic companies and look at basket instead of each individual companies. No real unifying reason.
#portfolio #allocation
what does a <1% weightage add to fund in terms of value.
Pharma space is low. They look at generic companies and look at basket instead of each individual companies. No real unifying reason.
27/n
#portfolio #allocation #ICRA
Company like ICRA used to be top holding and we kept on trimming at higher price when moody offered and were left with residual at low price.
Added again in pandemic.
#CAMS: asked for big quantity but didnt get it. eventually sold it off.
#portfolio #allocation #ICRA
Company like ICRA used to be top holding and we kept on trimming at higher price when moody offered and were left with residual at low price.
Added again in pandemic.
#CAMS: asked for big quantity but didnt get it. eventually sold it off.
29/N
#ITC
concerns on taxatation increase
livemint.com
ITC was able to pass on the tax increasing to customer. Secondly the panel mentions taxation of all TObacco product and this could be beneficial for cigarattes.
#ITC
concerns on taxatation increase
livemint.com
ITC was able to pass on the tax increasing to customer. Secondly the panel mentions taxation of all TObacco product and this could be beneficial for cigarattes.
30/N
#ITC
illicit ciggrates might also get curtailed due to Panel. @kushkatakia tweet talks about it in some other way.
#ITC
illicit ciggrates might also get curtailed due to Panel. @kushkatakia tweet talks about it in some other way.
32/N
#Conservative hybrid fund
why low dividend yield stocks chosen?
Clarfies that customer has not checked perhaps the interim dividend yield. Also clarfies, divident yield will not be the only criteria.
#Conservative hybrid fund
why low dividend yield stocks chosen?
Clarfies that customer has not checked perhaps the interim dividend yield. Also clarfies, divident yield will not be the only criteria.
33/N
#ghost of #Past #NoidaToll #ILFS
what is Fund doing to avoid such mistakes.
Rajeev says: Look at avoidable errors, learn lessons and try and avoid them in future. Errors that come account on chance/ probability, you can not do much.
Explains why they bought ILFS.
#ghost of #Past #NoidaToll #ILFS
what is Fund doing to avoid such mistakes.
Rajeev says: Look at avoidable errors, learn lessons and try and avoid them in future. Errors that come account on chance/ probability, you can not do much.
Explains why they bought ILFS.
34/N
#Suzuki
Portfolio company hasnt made any meaningful return/ losing market share.
Raj mentions, next 2-3 years there will be new launches. BTW the allocation has come down to 1.8% from highs of 5%. Not bought anything after some skimming in March/April last year.
#Suzuki
Portfolio company hasnt made any meaningful return/ losing market share.
Raj mentions, next 2-3 years there will be new launches. BTW the allocation has come down to 1.8% from highs of 5%. Not bought anything after some skimming in March/April last year.
35/N
#BAJAJHOLDING
Repeat question/every year. Refer to this (Past video)
youtu.be
Rajeev believes the discount of holding company narrows or increases over long term. Like bajaj auto and bajaj finance/finserve. underlying company doing well augurs well.
#BAJAJHOLDING
Repeat question/every year. Refer to this (Past video)
youtu.be
Rajeev believes the discount of holding company narrows or increases over long term. Like bajaj auto and bajaj finance/finserve. underlying company doing well augurs well.
36/N
only 2200 Watchers.. expected more. They could have used whatsapp/ Notification to get more views
only 2200 Watchers.. expected more. They could have used whatsapp/ Notification to get more views
37/N
#Reits
Assessment of returns in 2-3 years and why Reits are not part of flexicap.
Rental cost is just 1% of IT companies. with increasing in IT hiring, the demand is strong for office space. outlook for Reit should be good for india.
#Reits
Assessment of returns in 2-3 years and why Reits are not part of flexicap.
Rental cost is just 1% of IT companies. with increasing in IT hiring, the demand is strong for office space. outlook for Reit should be good for india.
38/N
#Reits
Employee do want to go back to office. PPFAS is in camp of demand revival for Commrecial reits. Should augur well.
Brookfield has highest Yield. The reason of having 3 reits instead of 1 is that these reits capture different cities as their area of strength.
#Reits
Employee do want to go back to office. PPFAS is in camp of demand revival for Commrecial reits. Should augur well.
Brookfield has highest Yield. The reason of having 3 reits instead of 1 is that these reits capture different cities as their area of strength.
39/N
#REITS
Why not in Flexicap.
it has to come out of 35% of portion of foreign stocks. Better risk reward as compared to Reits.
#REITS
Why not in Flexicap.
it has to come out of 35% of portion of foreign stocks. Better risk reward as compared to Reits.
40/N
# Zyduswellness
why sold?
Growth rates were not as high + Heinz Aquisition and additonal debt and valuation had gone up to a high level.
# Zyduswellness
why sold?
Growth rates were not as high + Heinz Aquisition and additonal debt and valuation had gone up to a high level.
Valuation had shot up significantly. 1% return since PPFAS sold:)
41/N
#Cyclical why not investment in real estate, building matrial stocks etc.
Valuation not attractive or few companies they are not confident. Real estate: Don't know when will downcycle come or mis allocation of asset buying?
watching the space but nothing compelling.
#Cyclical why not investment in real estate, building matrial stocks etc.
Valuation not attractive or few companies they are not confident. Real estate: Don't know when will downcycle come or mis allocation of asset buying?
watching the space but nothing compelling.
42/N
#RajeevThakkarDoesntLeavetheFundHouse
Neil answers
Has worked closely with father, defines culture of PPFAS.
Hold Schemes as well as shareholder of company.
if Money was a concern, Rajeev would have left long back:) check salaries of HDFC/ICICI
#RajeevThakkarDoesntLeavetheFundHouse
Neil answers
Has worked closely with father, defines culture of PPFAS.
Hold Schemes as well as shareholder of company.
if Money was a concern, Rajeev would have left long back:) check salaries of HDFC/ICICI
43/N
#RajeevThakkarDoesntLeavetheFundHouse
Give liberty to Rajeev to navigate, no targets to achieve.
please make a video and publish:) @npparikh6
Funny Quips from Rajeev:) headhunters dont reach out to Rajeev anymore.
#RajeevThakkarDoesntLeavetheFundHouse
Give liberty to Rajeev to navigate, no targets to achieve.
please make a video and publish:) @npparikh6
Funny Quips from Rajeev:) headhunters dont reach out to Rajeev anymore.
44/N
#QuestiononPerformance
Possibility of underperformance (mentioned in factsheet note)
Rajeev says, no desire to participate in frenzy stocks.Fund wont be in hottest sectors (Refers, 2007 DLF/Unitech or 2017 mid and small cap frenzy).
#QuestiononPerformance
Possibility of underperformance (mentioned in factsheet note)
Rajeev says, no desire to participate in frenzy stocks.Fund wont be in hottest sectors (Refers, 2007 DLF/Unitech or 2017 mid and small cap frenzy).
46/N
#PPFAS
How safe is ppfas process. (Prone to hacking, fraud by employee etc)
lot of investment going in to cyber IT applications. Engagement with outside hackers to find vulnerabilities. Periodic Audits.No broker has more than 5%
@npparikh6 Publish a video:)
#PPFAS
How safe is ppfas process. (Prone to hacking, fraud by employee etc)
lot of investment going in to cyber IT applications. Engagement with outside hackers to find vulnerabilities. Periodic Audits.No broker has more than 5%
@npparikh6 Publish a video:)
47/N
@iramneek
How much the performance has come from foreign stocks.
Rajeev: Never focused on where does the return has come from.This question comes every year.
Since inception:Indian stocks have done better than Foreign stocks!! there you go !!! not true for all the time.
@iramneek
How much the performance has come from foreign stocks.
Rajeev: Never focused on where does the return has come from.This question comes every year.
Since inception:Indian stocks have done better than Foreign stocks!! there you go !!! not true for all the time.
48/N
It has been a YOYO kind of a things which is giving higher returns. Net Net both components have done better than Nifty500/SP500.
Have done less than nasdaq (Foreign stocks).
For *fun*
Refer to this tweet:) if only hindsight was so better.
It has been a YOYO kind of a things which is giving higher returns. Net Net both components have done better than Nifty500/SP500.
Have done less than nasdaq (Foreign stocks).
For *fun*
Refer to this tweet:) if only hindsight was so better.
49/N
#NewAge
Fund hasnt invested in start up kind of business. Where cashflows+ ability to understand business. (Example of Mature Amazon)
Based on Roadmap visibility on cashflow. Some of the listing in INDIA, the fund doesnt have end game visibility. Staying Away as of now.
#NewAge
Fund hasnt invested in start up kind of business. Where cashflows+ ability to understand business. (Example of Mature Amazon)
Based on Roadmap visibility on cashflow. Some of the listing in INDIA, the fund doesnt have end game visibility. Staying Away as of now.
50/N
Why exit load for 2 years versus 1 year for flexicap!! (repeat)
- 2013: no exit load, lot of in and out and was messing the procss of deploying money
2 year exit load was a way to demotivate short term traders to come to fund and encourage long term investing.DELIBERATE.
Why exit load for 2 years versus 1 year for flexicap!! (repeat)
- 2013: no exit load, lot of in and out and was messing the procss of deploying money
2 year exit load was a way to demotivate short term traders to come to fund and encourage long term investing.DELIBERATE.
51/N
Fund taking conginzance of interfund tweaking of switching for portfolio rebalance. Fund will think on this.
exit load money goes back to remaininuing unit holders. Funds don't get the exit load.
Fund taking conginzance of interfund tweaking of switching for portfolio rebalance. Fund will think on this.
exit load money goes back to remaininuing unit holders. Funds don't get the exit load.
52/N
#CCL
Why in tax saver and not in flexicap.
Marketcap was 2500 Crore at that time, tax saver AUM was lower and hence was able to get a meaningful share.
No point having a small weight in flexicap.
Tax saver may always have more stocks as compared to Flexicap.
#CCL
Why in tax saver and not in flexicap.
Marketcap was 2500 Crore at that time, tax saver AUM was lower and hence was able to get a meaningful share.
No point having a small weight in flexicap.
Tax saver may always have more stocks as compared to Flexicap.
53/N
#Portfolio balance ?
largely driven by business development and change in valuation. example of persistent and emphasis selling.
#Portfolio balance ?
largely driven by business development and change in valuation. example of persistent and emphasis selling.
54/N
#bajajholding liquidity
only 15K average sharing volume. How will fund manage in case of some adverse situation.
very good question!!
long answer and difficult to pharaphrase. refers to block deal etc. watch video
#bajajholding liquidity
only 15K average sharing volume. How will fund manage in case of some adverse situation.
very good question!!
long answer and difficult to pharaphrase. refers to block deal etc. watch video
Made about 60-80 dollars perhaps in alphabet class a to c conversion..
#ITC covered call, hardly used as of now. Building capabilities but will use it sparingly.
55/n
#ITC covered call, hardly used as of now. Building capabilities but will use it sparingly.
55/n
#LUPIN
Are you still positive?
Pharma: bought when significant low entry point due to US FDA issues but balance sheet were strongs. So took basket instead of single company.
Are you still positive?
Pharma: bought when significant low entry point due to US FDA issues but balance sheet were strongs. So took basket instead of single company.
3 hours now and non stop questions :)
What is the average AGM of Indian companies?
What is the average AGM of Indian companies?
NBFC versus new age fintech
Not a big fan of fintech ( good on tech/app development) but lack business model.
If I had to choose, will go for texh savvy private bank or well run nbfc
Not a big fan of fintech ( good on tech/app development) but lack business model.
If I had to choose, will go for texh savvy private bank or well run nbfc
Possibility of buying European energy stock
Rajeev says, out of syallabus questions :) not that deep a universe
Rajeev says, out of syallabus questions :) not that deep a universe
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