00:01Hello, I am Raja.
00:02Today we are going to talk about a new NFO.
00:05I am going to talk about a new NFO.
00:07I am going to talk about a new mutual fund manager,
00:09Rukun Tarachanani.
00:10Rukun, you are very welcome.
00:12I am going to talk about large-cap fund,
00:15which I have learned about large-cap fund,
00:18which I have learned about large-cap fund,
00:21because large-cap fund,
00:22it is often a large-cap fund,
00:24but this fund,
00:26you have some new ways,
00:28which is an active fund and passive fund,
00:31which will be a blend of active fund.
00:33It will be an active fund,
00:35but it will not be a run.
00:39It will be quite a passive fund.
00:42How will it be?
00:44What will it be?
00:46Let us understand.
00:51Look,
00:53this fund is a fund.
00:56There are some investors who want to pay a large-cap universe,
01:01which will give a broad exposure to large-cap companies.
01:07This is a large-cap company.
01:09This is a large-cap company.
01:10This is a large-cap company.
01:11This is a large-cap company.
01:12This is a large-cap company.
01:13The rest of the five-cap area is not very Fazl vậy which I think
01:28and that it will be in value.
01:30afternoon,
01:31it has completely new and hasn't.
01:33active share and portfolio and index are more similar, then we call low active share.
01:41So, this set of investors want to say that the portfolio is low active share.
01:46And because it is low active share, the expense ratios also want to be less.
01:52In today's period, these investors, in the market, passive funds,
01:58we use this need to cater. Passive funds portfolio is almost indexed, almost same,
02:05tax wealth ratio is less.
02:07We want to cater to this investor's needs,
02:13but because our fund is active fund,
02:17we use smart execution strategies,
02:22we use these funds,
02:25which will differentiate our funds from the passive funds.
02:29What are the strategies?
02:32First of all, this is the strategy that
02:35when a stock is in cash market and futures market,
02:40if the stock is in cash market,
02:43it is easy to sell cash market.
02:46So, we will sell futures in cash market.
02:50Second of all,
02:52when a stock market is in cash market,
02:55then index futures are also discounted,
02:58such as 50-50 futures,
03:0050-50 indexes are discounted.
03:03In these scenarios,
03:0650-50 companies,
03:08we can take the stock market to its size and charge.
03:11If the stock market is in cash market,
03:14we can właśnie apply the stock market to its prices.
03:16The next strategy is,
03:18whenever when you get to cash market,
03:20when an index company is in cash market,
03:22the company was in cash market,
03:25when we buy a stock market,
03:26then the market is in cash market.
03:28Even if the stock market is cheaper,
03:30we buy one stock market.
03:33in the future.
03:34In the future, the Cadre Merger was listed in the United States.
03:39In the case of the Merger Ratio, the Cadre Merger was limited to the Cadre Merger.
03:43The Cadre Merger Ratio was not limited to the Cadre Merger.
03:47So if you buy SDFC bank, if you buy SDFC limited, then you get the same exposure to the merger, but you get it in the system.
03:57The fourth strategy is the other special situations like D-mergers.
04:05D-mergers means that many times D-merger companies get rid of the index funds, and all the index funds only sell each day.
04:18That's why there is a lot of selling pressure.
04:22We don't have passive funds, we don't have active funds, so we will not sell each day,
04:28or gradually over a period of time.
04:31And finally, the fourth strategy is that when the index is rebalanced,
04:36then all the index funds do the same thing for each day,
04:41which means the rebalancing date.
04:44In our fund, we can gradually do that, over a period of time,
04:5020-25 days, which will increase the impact cost,
04:54and we can get better execution price.
04:59D-mergers means that there are 5 strategies that will differentiate us from passive funds.
05:04D-mergers means that if you are not specific,
05:06then you get the best interest and the issuance of this,
05:09if you are looking for all of yourself,
05:10you can use the best interest rates in this economy.
05:11D-mergers means that when you are not taking that investment,
05:12the businesses don't have to be able to follow the industry.
05:13Yes, what do you see in such a way?
05:14A true investment habits.
05:15D-mergers means that there is no relationship with the investment,
05:16guidelines that you have to have for the investment.
05:17D-mergers means that when you are not sustainable,
05:18all the investment companies have to be able to do with investment.
05:19D-mergers means that there is no investment width.
05:20Yes, if there is no special situation, there is no opportunity in the future, or no rebalancing, then the fund will be similar to the index.
05:41Yes, if there is no such work in passive funds, that you can follow the index, and you can try to match the return to the same way,
05:55so what do you think about passive funds to follow the index?
06:04Well, I think that there are some inefficiencies that we can address.
06:14It is very inefficient, which I have told, is rebalancing.
06:21In today's date, the index funds and passive funds have a lot of AUMs.
06:27When index committees announces, like NSE announces that Nifty 100 will have to rebalance,
06:35then the announcement and rebalancing date is 15-20 days.
06:41In today's date, there is a situation that the market knows that 15 days later,
06:48the index funds will buy these stocks and they will buy these stocks.
06:53Because that day, the index rebalancing is going to be rebalancing.
06:56So many traders and traders, they will have to position them.
07:01These are the inefficiencies that we can address and try to address.
07:09We can gradually rebalancing.
07:11So actually, you will behu to build among investors.
07:12Prof.
07:14Prof.
07:17Prof.
07:19Prof.
07:20Prof.
07:21Prof.
07:24Prof.
07:25Prof.
07:26Prof.
07:27Prof.
07:28Prof.
07:30Prof.
07:38Prof.
07:40Prof.
07:40Prof.
07:41react not to exchange.
07:44I am
07:46more than
07:48the
07:49rules
07:54are
07:56the
07:58rules
08:01the
08:03rules
08:04I have a lot of high probability that this stock will come or will go.
08:12If there is a lot of high probability, then we can do a little bit of a position.
08:17Announcement before.
08:19Yes.
08:20If you are technically an active fund, you will be able to do it.
08:26Because you will not have an index fund or passive fund.
08:34You will be able to do it in large cap.
08:38If you are wrong, you will be able to rectify it.
08:43Right.
08:45Yes, absolutely.
08:47So, this impact cost in special situations, you will be able to do it.
08:56Because as you have told, the balance of all funds will be able to pay the funds.
09:02If you are able to pay the funds, you will be able to pay the funds.
09:06So, this impact cost will also be able to pay the funds.
09:12So, this impact cost, if you are able to pay the funds, you will be able to pay the funds.
09:17So, this impact cost is also possible.
09:19If you are able to pay the funds, you will be able to pay the funds.
09:21So, if you are able to pay the funds, you will be able to pay the funds for the funds.
09:30You will also pay the funds for the funds for the funds for the funds.
09:37perspective
09:37से नहीं देखना चाहिए
09:39यह fund
09:41उन investors के लिए है जिनने
09:43index like returns चाहिए
09:45जो index like returns से
09:47healthy है वो
09:48active management का
09:51बहुत जादा risk लेना नहीं चाहते है
09:53उन investors के लिए
09:55fund है हाँ जो भी
09:57strategies है यह हमें
09:59net returns
10:02improve करने में help करेंगे
10:03वो कितना करेंगे वो हमें देखना
10:05पड़ेगा ओल टाइम बट
10:07इस fund से
10:09बहुत जादा आलफा
10:11investors को expect नहीं करना चाहिए
10:13तो
10:17मुखिता large cap के
10:19category के अंदर आप
10:20nift 300 को
10:23follow करते हुए रहेंगे और
10:25recently हमने देखा है कि
10:27large cap से बहुत जादा return
10:29नहीं मिला है
10:30हालां कि अगर आप
10:312025 को देखें
10:33तो उसमें दूसरी के टेगरी
10:35जो है mid cap small cap वहाँ पर तो फिर
10:37small cap पर निगेटिव performance भी गया है
10:40लेकिन large cap जहाँ पर performance मिला भी
10:42वहाँ भी बहुत हलका रहा है
10:44अब आगे के लिए आपका अनुमान क्या है
10:47या आपका house view क्या है
10:49इस segment को लेकर के लिए जैसे निवेशत के पास पांच साल से ज्यादा का
10:59capital है, patient capital है
11:01वो investors को हम अभी भी recommend कर रहे है
11:05equity is the asset class जिसमें उन्हें invest करना चाहिए
11:09within equity, large cap में valuations, small and mid cap से reasonably better है
11:19relatively, so within equities हमारा preference
11:24आज की तारिक में large cap में हमें ज्यादा opportunities मिल रहे है
11:28तो किसी, जिस investor के पास पात साल से ज्यादा का horizon है
11:33वो investors अपने और equity allocation के लिए इस fund को consider कर सकते है
11:40जी, बिलकुल, लेकिन जिस तरह से अभी risk reward ratio देखें
11:48क्या ये कहा जा सकता है कि large cap सामाने स्थित्यों में ही माना जाता है
11:54कि थोड़ा सा कम risk oriented होता है
11:57मिट कैप और small cap के तुलना में आज की तारीख में वो और भी ज्यादा कम
12:02risky लग रहा है कि ऐसे segment के रूप में आप उसे देख रहे हैं
12:05हां relatively valuations large cap में attractive है versus small and mid cap
12:13small and mid cap अगर आप history देखें तो large cap से 15-20% discount पे trade होते हैं
12:21तो valuation के नजर ये से large cap risk reward के terms में बेटर है जी बिलकुल तो बहुत-बहुत धन्यवाद रुकन आपने समय निकाला
12:26इस बात्चीत के लिए और आशा करते हैं आप से जल्दी ही फिर बात होगी नमस्कार अग्याद्ट अग्याद्ट
12:49झाल
12:50झाल
12:52झाल
12:54झाल
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