NAV could not be calculated as 600 out of 800 NSE stocks
NAV could not be calculated as 600 out of 800 NSE stocks did not trade; fair amount of buying interest seen in y’day trade rather than redemption pressure: ICICI Pru
What is short term capital gain and long term capital gain?
Nilesh Shah, Deputy MD of ICICI Prudential said that the NAV could not be calculated as 600 out of 800 NSE stocks did not trade. A fair amount of buying interest was seen in yesterday trade rather than redemption pressure. Aggressive cash calls were not taken when the mandate was for equity.He said that probably, the market underperformed on the upside due to high beta stocks outperforming. It is not fair to judge to MF managers on a short term basis, he added.
Dhirendra Kumar, CEO of Value Researchonline said that Mutual Fund’s had Rs 14,000 crore cash as of month end. Reliance MF had 27% cash holding of AUM and UTI had 17% cash holding of AUM. He urge the investors not to rush into the markets without a plan. Investors should look at indexing as a part of their portfolio, he added.