Sunday, March 22, 2009
JM BASIC FUND - A DISASTER
My sip for jm basic fund(G)expires on 25 jan,it was from last one year.Should i continue or not.I have 8 diff. sip of 1000/pm and plannig for 10 year.Others are sbi Contra,hdfc prudence,hsbc equity,Magnum global,diversi power reliance,rel vision and growth,icici infra.All r growth option.I have to re-arrange portfolio,pl advice.
SRIKANTH SHANKAR MATRUBAI replied
JM Basic Fund has been one of the Disasters of 2008. In fact, the JM Fund House itself has had a Disasterous Year in 2008. Almost all their Funds lost heavily, in fact more than the Benchmark and some Funds lost even 80%.
approach too seems to be losing focus looking at thier portfolio. You are advised to STOP your sip in this Fund and Discontinue the same.
Regarding your other Funds, here is my take on each of them :
SBI Contra - Continue
HDFC Prudence — Continue
HSBC Equity — Continue
Magnum Global - Discontinue and switch to Birla Sunlife Equity Fund
Reliance Divesified Power - Discontinue and Switch your SIP to Fidelity Equity Fund
Reliance Vision - Continue
Reliance Growth - continue
ICICI Infra - Stop and Switch your SIP to ICICI Dynamic Fund
And your JM Basic SIP can be routed to a Better Looking and much more promising Sundaram Select Focus Fund.
BEst of luck,
Srikanth Shankar Matrubai,
Also visit http://equityadvise.blogspot.com for an indepth Equity Analysis