We highlight some of the top performing managers dominating the Indian equity space.
Citywire’s list of the top 1000 managers has discovered some new names in the Indian equity space, finding talent away from familiar cross-border players.
Citywire 1000 is a ranking of the best individual fund managers, based on their positive total return and risk-adjusted performance over the last three years up to June 2012.
The global growth slowdown has made life difficult for managers over the past few years but Indian equity managers have been among the brightest stars.
This is demonstrated by their strong showing in Citywire’s Top 1000, notably ahead of emerging market managers investing in China and Russia.
A full 31 Indian equity managers have made the cut and between them they manage a total of 46 funds.
Performance has come from a diverse range of investment strategies, as well as from across the market cap spectrum.
Top of the list is Ajay Garg from Birla Sun Life, ranked 42nd in the Citywire 1000. With more than 15 years of experience in financial services, Garg runs the Birla Sun Life MNC Fund - Growth with $55 million under management and Birla Sun Life Dividend Yield Plus – Growth fund with $225 million under management.
He returned 79% over the last three years and invests mainly in small and mid-cap companies aiming for a well-diversified portfolio in growth driven sectors such as fast moving consumer goods, pharmaceuticals and autos.
He only invests in multinational companies that he believes have the best long term growth potential.
UTI’s Anoop Bhaskar, ranked 103rd in the Top 1000, is the second best rated Indian manager on the list.
Bhaskar heads UTI’s equity division and started his fund management career by investing in small and mid-cap stocks but now also includes large caps in his portfolio.
He has returned 59% over three years and has made relative valuations and tactical trading an integral part of his strategy. The UTI Opportunities Growth fund is one of the three funds he runs and has a 26% allocation to financials, with ICICI bank (5.6%) and HDFC Bank (4.89%) being in his top 5 holdings.
The only non-Indian fund manager from those among the highest placed is Aberdeen’s Asia expert Hugh Young.
Young has returned 53.57%, he currently runs the Aberdeen India Opportunities fund and Aberdeen Global – Indian Equity fund, and is third in the sector and is ranked 137th overall.
He is a long term investor and is based in Singapore. He looks for undervalued investment opportunities which he finds through company visits and detailed company analysis. He oversees investments in the Asian, European, Middle Eastern, African and Latin American markets.
The best female manager in the Indian equity sector is Swati Kulkarni from UTI Asset Management Company. Kulkarni is ranked 282nd and has over 20 years of experience in the financial industry, with 19 years in UTI.
She manages a number of growth funds with $1230 million worth of assets under management. Her biggest fund in the sector is UTI Dividend Yield Fund-Growth with $645 million of assets under management.
She returned 43% in the sector over the last three years.
Of the 46 funds run by the 31 managers, 70% are domiciled in India while 22% are available in Singapore, 17% in various European countries and 15% in Hong Kong.
To find out more about Citywire 1000 and to order a copy visit www.citywire1000.com
Performance analysis for the Indian equity sector has been calculated in rupees over the three years to 30 June 2012.