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27/06/2013
Young IIM graduates' fund gives record fat returns : Mutual Fund, News - India Today
The effort by the students of IIM-Lucknow is purely a student initiative in which the institution is not directly involved. The system was introduced after the institute's faculty realised that making them manage public money and doses of theory could mould students into excellent fund managers. IIM professors, Vipul and Manoj Anand, guided the process. "A committee of twelve students, including seven seniors, was formed for managing the fund. We had an exciting process in which heated debates were commonplace. But consensus was arrived at based on majority opinion," said Navin Prasad of the Credence Fund Managers, or the committee. "More than profit maximisation it was risk management and preservation of capital that were the keys. It is not that they always made money. Strict stoplosses were crucial to success," said Prasad. The fund managers of Credence Capital applied both fundamental and technical analysis to build the portfolio. The students followed a systematic procedure involving selection of fund managers, appointment of a committee to approve investment decisions, updating student investors on the past week's developments and expectations for the next week. Credence is no run-of-the-mill kitty corpus, but a stickler to rules. It posted newsletters providing a summary of the happening of the past week and expectations for the coming week. The newsletter also analysed futures and options (F& O) data and gleanings were emailed to all investors, every week. "The challenge was to do all the analysis based on publicly available data. We did not have any data streams like Bloomberg or Reuters, used in mutual funds or treasuries," said Rahul Krishna, who was one of the leaders of the team. Krishna, who had some prior experience of working in a treasury before boarding the management bandwagon, said, "In fact, we are spending 60 per cent of our time in management of the fund and only 40 per cent on studies." No wonder, many of these aces have been offered positions at global financial sector biggies like Goldman Sachs, Citigroup and JP Morgan. Courtesy: Mail Today
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27/06/2013
Young IIM graduates' fund gives record fat returns : Mutual Fund, News - India Today
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Young IIM graduates' fund gives record fat returns : Mutual Fund, News - India Today
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Young IIM graduates' fund gives record fat returns : Mutual Fund, News - India Today
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Young IIM graduates' fund gives record fat returns : Mutual Fund, News - India Today
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Young IIM graduates' fund gives record fat returns : Mutual Fund, News - India Today
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Young IIM graduates' fund gives record fat returns : Mutual Fund, News - India Today
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Young IIM graduates' fund gives record fat returns : Mutual Fund, News - India Today
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Young IIM graduates' fund gives record fat returns : Mutual Fund, News - India Today
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