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Old 14-09-2013, 02:52 PM
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Default PPFAS Long Term Fund

I have started a SIP in the fund. Highly recommend for really long term investor who has 5-10 year time horizon. Best way to partner with one of the greatest value investors of India.
A Very different fund from those available in market which has no Dividend option thus betting on Compounding.

Here are its latest holdings.

Noida Toll Bridge Co Ltd Transportation 6.46%
Mphasis Ltd Software 5.99%
Maharashtra Scooters Ltd Auto 5.80%
ICRA Finance 5.72%
Mahindra Holidays & Resorts India Ltd Hotels 5.56%
Polaris Financial Technology Ltd Software 4.46%
IL&FS Investment Managers Ltd Finance 4.45%
Axis Bank Banks 4.34%
Jammu and Kashmir Bank Banks 4.21%
Gujarat Gas Company Ltd Gas 3.80%
Indraprashtha Gas Ltd Gas 3.56%
Selan ExplorationLtd Oil 1.32%
Wyeth Ltd Pharmaceuticals 1.08%
Novartis Ltd Pharmaceuticals 1.06%

Arbitrage

Bharti Airtel Ltd* 3.16%
Yes Bank* 3.03%
IDFC* 1.85%


Total 65.85%

Overseas Securities, IDRs and ADRs

Nestle SA ADR Packaged Foods 5.64%
3M CO Industrial Conglomerates 5.18%
British American Tobacco ADR Consumer Nondurables 4.84%
Standard Chartered PLC IDR Banks 3.54%
Anheuser Busch Inbev SA ADR Brewers 2.01%

Total 21.21%

Latest Factsheet
amc.ppfas.com/downloads/factsheet/2013/august/pltvf-factsheet-august-2013.pdf
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Old 14-09-2013, 03:17 PM
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Default

IVC is one i have looked at umpteen times but have avoided coz it's going to xtract opportunity cost (& other 'popular' financials also cheap) The div yield is huge at almost 12% Bt exposure to RE & Infra the problem.

On the whole i'm not too impressed with the portfolio You can do much better on your own (i.e. SIPping in your own portfolio enjoying dividends too & no fund charges).
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Last edited by kkseal; 14-09-2013 at 03:20 PM.
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Old 14-09-2013, 03:45 PM
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Default

Originally Posted by jazz View Post
I have started a SIP in the fund. Highly recommend for really long term investor who has 5-10 year time horizon. Best way to partner with one of the greatest value investors of India.
A Very different fund from those available in market which has no Dividend option thus betting on Compounding.

Here are its latest holdings.

Noida Toll Bridge Co Ltd Transportation 6.46%
Mphasis Ltd Software 5.99%
Maharashtra Scooters Ltd Auto 5.80%
ICRA Finance 5.72%
Mahindra Holidays & Resorts India Ltd Hotels 5.56%
Polaris Financial Technology Ltd Software 4.46%
IL&FS Investment Managers Ltd Finance 4.45%
Axis Bank Banks 4.34%
Jammu and Kashmir Bank Banks 4.21%
Gujarat Gas Company Ltd Gas 3.80%
Indraprashtha Gas Ltd Gas 3.56%
Selan ExplorationLtd Oil 1.32%
Wyeth Ltd Pharmaceuticals 1.08%
Novartis Ltd Pharmaceuticals 1.06%

Arbitrage

Bharti Airtel Ltd* 3.16%
Yes Bank* 3.03%
IDFC* 1.85%


Total 65.85%

Overseas Securities, IDRs and ADRs

Nestle SA ADR Packaged Foods 5.64%
3M CO Industrial Conglomerates 5.18%
British American Tobacco ADR Consumer Nondurables 4.84%
Standard Chartered PLC IDR Banks 3.54%
Anheuser Busch Inbev SA ADR Brewers 2.01%

Total 21.21%

Latest Factsheet
amc.ppfas.com/downloads/factsheet/2013/august/pltvf-factsheet-august-2013.pdf

go through analysis of the fund and fund manager in this site also
http://rakesh-jhunjhunwala.in/
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Old 15-09-2013, 02:07 PM
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Default

Originally Posted by kkseal View Post
IVC is one i have looked at umpteen times but have avoided coz it's going to xtract opportunity cost (& other 'popular' financials also cheap) The div yield is huge at almost 12% Bt exposure to RE & Infra the problem.

On the whole i'm not too impressed with the portfolio You can do much better on your own (i.e. SIPping in your own portfolio enjoying dividends too & no fund charges).

Yes you can avoid an annual 2% fund charge by sipping you own portfolio and buy securities back with the dividend received but will that be free of cost ? Wont you have to pay the brokerages stt's n all ?
Best part of owning this fund is your exposure to foreign equities. To do so directly from your own account you have to open a a/c with foreign broker like Saxo capital. Kotak securities had an option for that but it required 6.5 Lakhs as margin ! Don't think an individual can afford that.

IVC is an excellent company with annuity type of income stream with a side kick in form of Carry. Its Leverage India Fund with corpus of 950crs which they are trying to exit completely ( hopefully this year they will be able to do so) has generated 44% returns. Its Hurdle rate is 8% so we are left with 36% out of that 80% will go to investors and rest 20% will be for il&fs team and investors. So approx 21crs will be for investors. Total outstanding shares are 20.85cr shares. Per share value should be around 1.2/- this will get distributed as dividends. So add 1.75/- regular dividend + 1.2/- special dividend = 2.95/- or dividend yield of almost 20%. So not a bad bet by PPFAS i guess..
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