Monthly Recap: Good investing hurts

world.2015-03-31.2015-04-30

Equities

Major
DAX(DEU) -4.28%
CAC(FRA) +0.26%
UKX(GBR) +3.14%
NKY(JPN) +1.69%
SPX(USA) +1.41%
MINTs
JCI(IDN) -7.83%
INMEX(MEX) +1.82%
NGSEINDX(NGA) +9.31%
XU030(TUR) +3.34%
BRICS
IBOV(BRA) +9.54%
SHCOMP(CHN) +18.51%
NIFTY(IND) -3.65%
INDEXCF(RUS) +3.82%
TOP40(ZAF) +4.73%

Commodities

Energy
WTI Crude Oil +23.33%
Ethanol +7.84%
Heating Oil +15.86%
RBOB Gasoline +14.75%
Brent Crude Oil +19.90%
Natural Gas +4.57%
Metals
Copper +6.91%
Palladium +5.40%
Gold 100oz -0.37%
Silver 5000oz -3.01%
Platinum -0.82%

Currencies

USDEUR:-4.08% USDJPY:+0.18%

MINTs
USDIDR(IDN) -0.96%
USDMXN(MEX) +1.88%
USDNGN(NGA) -0.62%
USDTRY(TUR) +4.23%
BRICS
USDBRL(BRA) -6.36%
USDCNY(CHN) +0.06%
USDINR(IND) +1.48%
USDRUB(RUS) -10.79%
USDZAR(ZAF) -0.61%
Agricultural
Cocoa +4.00%
Coffee (Arabica) -0.94%
Coffee (Robusta) +1.94%
Cotton +4.63%
Soybean Meal -3.44%
Corn -4.25%
Lean Hogs +22.47%
Lumber -8.52%
Orange Juice -8.61%
Soybeans -0.44%
Sugar #11 +7.58%
Feeder Cattle -2.02%
Wheat -8.19%
Cattle -7.48%
White Sugar +4.89%

Credit Indices

Index Change
Markit CDX EM +3.58%
Markit CDX NA HY -0.55%
Markit CDX NA IG -2.44%
Markit iTraxx Asia ex-Japan IG +7.09%
Markit iTraxx Australia +6.74%
Markit iTraxx Europe +9.57%
Markit iTraxx Europe Crossover +1.39%
Markit iTraxx Japan -3.23%
Markit iTraxx SovX Western Europe +2.17%
Markit LCDX (Loan CDS) -0.11%
Markit MCDX (Municipal CDS) +1.70%
Both the NIFTY and the rupee put in performances that they sooner forget. Stretched evaluations met a tepid earnings season and retroactive tax demands on FIIs. May will see more firms coming out earnings and we expect the markets to remain choppy.

Nifty Heatmap

CNX NIFTY.2015-03-31.2015-04-30

Index Returns

For a deeper dive into indices, check out our weekly Index Update.
index performance.2015-03-31.2015-04-30

Market Cap Decile Performance

Decile Mkt. Cap. Adv/Decl
1 (micro) +3.97% 82/50
2 +10.85% 82/49
3 +7.66% 78/53
4 +6.24% 68/64
5 +4.32% 72/59
6 +2.89% 68/63
7 +2.84% 71/61
8 -2.06% 66/65
9 -3.55% 64/67
10 (mega) -2.64% 58/74
This doesn’t make any sense…

Top Winners and Losers

UPL +10.97%
GLENMARK +13.25%
TATASTEEL +13.76%
APOLLOHOSP -16.95%
WIPRO -14.35%
SRTRANSFIN -12.97%
A smorgasbord of performance…

ETF Performance

GOLDBEES +3.56%
PSUBNKBEES +2.07%
BANKBEES +1.54%
JUNIORBEES -0.62%
CPSEETF -2.15%
NIFTYBEES -3.29%
INFRABEES -5.49%
Infrastructure got whipped…

Yield Curve

yield Curve.2015-03-31.2015-04-30

Bond Indices

Sub Index Change in YTM Total Return(%)
GSEC TB -0.09 +0.66%
GSEC SUB 1-3 -0.60 +0.25%
GSEC SUB 3-8 +0.04 +0.20%
GSEC SUB 8 +0.16 -0.07%
Listless…

Investment Theme Performance

Textile, Metals, Chemicals, Paper and Energy Quality to Price +4.76%
Financial Strength Value +3.32%
Tactical CNX 100 +2.51%
Momentum -0.11%
Auto and Consumer Goods Quality to Price -0.32%
Balance Sheet Strength -0.61%
Quality to Price -2.49%
ADAG stocks -2.65%
Media, Health, IT, Telecom, Services, Pharma Quality To Price -3.16%
High Beta -3.29%
CNX 100 Enterprise Yield -4.41%
ASK Life -5.50%
Low Volatility -6.67%
PPFAS Long Term Value -7.89%
Magic Formula -8.44%
Next Trillion -10.54%
Drawdowns galore across investment strategies…

Equity Mutual Funds

Best
Mirae Asset China Advantage Fund – Regular Plan Growth Option +16.08%
JPMorgan Greater China Equity Off-shore Fund – Regular Plan – Growth Option +13.54%
HSBC Brazil Fund-Growth +12.24%
DSP BlackRock World Energy Fund – Regular Plan – Growth +9.68%
DSP BlackRock World Mining Fund – Regular Plan – Growth +9.67%
Mirae Asset Global Commodity Stocks – Growth Option +9.40%
HSBC Emerging Markets Fund – Growth +9.35%
Worst
BNP Paribas Long Term Equity Fund – Growth Option -5.39%
HSBC Progressive Themes Fund – Growth -5.41%
Axis Focused 25 Fund – Growth Option -5.46%
Canara Robeco Infrastructure – Regular Plan – GROWTH -5.65%
BNP PARIBAS Equity Fund-Growth Option -5.69%
Religare Invesco AGILE Fund – Growth Option -6.18%
Sundaram Growth Fund-Growth -7.62%

Bond Mutual Funds

Best
Escorts Income Plan-Growth +0.95%
Baroda Pioneer Credit Opportunities Fund -Plan B-Growth Option +0.79%
Baroda Pioneer Credit Opportunities Fund -Plan A -Growth Option +0.70%
Franklin India Dynamic Accrual Fund-Growth +0.62%
Kotak Coporate Bond Fund- Retail Plan-Growth Option +0.58%
Kotak Corporate Bond Fund- Standard Plan-Growth Option +0.55%
Reliance Corporate Bond Fund – Growth Option +0.51%
Worst
Canara Robeco Gilt PGS – Regular Plan – Growth -0.52%
BARODA PIONEER INCOME FUND – Plan A – Growth Option -0.53%
IDBI Gilt Fund Growth -0.55%
Religare Invesco GILT Fund – Long Duration Plan – Growth -0.61%
HDFC Inflation Indexed Bond Fund – Regular Growth -0.72%
DWS Inflation Indexed Bond Fund- Regular Plan- Growth -0.93%
SBI INFLATION INDEXED BOND FUND – REGULAR PLAN – GROWTH -0.95%

Thought to sum up the month

Good investing hurts. Investors pay a high price for comfort and get paid a high price for doing what few others will. That will always be the case.

Source: This Was Never Easy