Two World Wars, the Great Depression, India's independence struggle, the Hindu rate of growth, the licence-permit raj, controls on foreign exchange and expansion, and the reforms of the 1990s: a handful of Indian companies have seen it all, and adapted along the way to do well.
To arrive at the Lipper Mutual Fund Awards 2011 winners, Thomson Reuters used several criteria. Here are the fund houses that have emerged winners for being good at what they do - delivering returns. In the long term we are all dead, said John Maynard Keynes. But winner fund managers prove that money can be made in the long term. The boom-bust-boom cycle of the last three years has been an acid test for fund managers. Winners of the Lipper Awards 2011 reveal what they did, or did not do, or did differently, to emerge victorious. The boom-bust-boom cycle of the last three years has been an acid test for fund managers. BT and Thomson Reuters fete fund managers who steered through tsunamis and debt crises with aplomb. With a mix of the right strategies and calculated risks, Delhi-based Escorts Mutual Fund, or EMF, has turned in a performance that enabled it to bag the Best Bond Fund House Award this year. Ashu Suyash, Managing Director and Country Head, Fidelity International, which won the award for Best Equity Fund House, says the group's achievements are the result of its investment philosophy.
The tide has gone out of the Indian stock markets, leaving several listed companies thoroughly exposed. More than half the IPOs that hit the markets between 2007 and 2009 are trading under water. Favourable government policies, improved roads and airport infrastructure are attracting international hotel chains to set up base in India. Eschewing five-star indulgences and deluxe amenities, these mid-market hotels - a notch above budget or economy hotels - are fast rising on the popularity charts in the country. India's largest lender registered its worst-ever performance in the fourth quarter of 2010-11 - the net profit plunged 99 per cent to Rs 20.88 crore from Rs 1,867 crore last year. SBI took the body blow by not provisioning for non-performing assets in time. About 100 Indian companies which took the FCCB route aggressively during the 2006/2008 bull run to raise funds, now find it is payback time - bonds worth Rs 31,500 crore are coming up for redemption within the next 24 months. Stock prices of many of the issuers are far below their conversion prices. The state-owned carrier's aggressive pricing policy has dented profits of private carriers who are now looking at their international operations to recover. The Maharashtra government's decision to redevelop Dharavi, Asia's biggest slum in north central Mumbai, will shatter a host of thriving small industries. The Zee-STAR deal could be a game changer. Coal shortages and power cuts return despite new policies and penalty-backed agreements. Small and medium enterprises lead the remarkable revival in engineering exports.
Mutual Funds that adopt a guarded approach towards investing in equities show low volatility and are good bets for the risk-averse. Index funds do not promise benchmark-beating returns, but their low-cost, low-risk fund management lends stability to your portfolio.
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Google Maps allows viewers to zoom right down to the level of the street and view it in 360 degrees. Sanjay Chandra of Unitech was the most-discussed CEO in May, albeit for all the wrong reasons. Jonathan Garner, MD and Chief Asian and Emerging Market Strategist at Morgan Stanley, shared his views on problems afflicting emerging economies such as high inflation, rising interest rates and elevated oil prices. According to IDC India, total PC sales in the country in 2010 stood at 9.89 million units, a growth of 30 per cent over 2009. It was the highest growth in the last four years. The long road to number portability Today's ultra high net worth individuals flash their wealth, are highly brand conscious, and consult family on big-ticket purchases, reveals a new study by Kotak Wealth and CRISIL Research. I have basically become a vegetarian since the only meat I am eating is from animals I have killed myself. Mark Zuckerberg Does the change of government in West Bengal augur well for business? A feature-rich prosumer camera and the new King of Android Hill Indian consumers are shopping online with a vengeance The market regulator sticks to the ban on entry load for mutual funds while looking into ways to incentivise distributors. The government takes the first step on the long and tortuous road to labour law reforms. The rate of GDP growth will slow down further to eight per cent in the current financial year, says Sonal Varma.
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