{"id":1997041,"date":"2014-07-17T12:38:38","date_gmt":"2014-07-17T07:08:38","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=1997041"},"modified":"2014-09-09T11:58:46","modified_gmt":"2014-09-09T06:28:46","slug":"refracting-fund-portfolios-ppfas","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2014\/07\/17\/refracting-fund-portfolios-ppfas\/","title":{"rendered":"Refracting Fund Portfolios: PPFAS"},"content":{"rendered":"<ol>\n<li>Where does alpha come from?<\/li>\n<li>How much should you pay for alpha?<\/li>\n<li>If a fund manager claims that his portfolio is a &#8220;long-term&#8221; bet, then does it make sense to just buy all the stocks in his portfolio rather than pay him an asset management fee for the privilege?<\/li>\n<li>How much do &#8220;other&#8221; investments add to returns?<\/li>\n<li>Will an equally weighted portfolio out-perform a hand-crafted weighting?<\/li>\n<\/ol>\n<p>To answer these questions, we have started an experiment. We have created an equally weighted portfolio of NSE listed stocks in the PPFAS Long Term Value Fund (<a href=\"http:\/\/www.amc.ppfas.com\/schemes\/factsheet\/index.php\" target=\"_blank\">Factsheet<\/a>.) The Theme will be re-balanced once a month, as soon as the PPFAS portfolio disclosure becomes public. As of the latest information available, 72% of the fund&#8217;s portfolio was invested in Indian equities &amp; 21% is invested in foreign equities with the balance amount in Cash Equivalents.<\/p>\n<p>Over a period of time, we hope to answer the questions we have raised above.<\/p>\n<p>You can follow the Theme here: <a href=\"http:\/\/stockviz.biz\/#\/theme\/equity\/d15c53c7-1431-46f2-a034-3313a853b96e\" target=\"_blank\">Refract: PPFAS Long Term Value Fund<\/a><\/p>\n<p><em>Refract:<\/em> (of water, air, or glass) make (a ray of light) change direction when it enters at an angle. From Latin refract- \u2018broken up\u2019, from the verb refringere, from re- \u2018back\u2019 + frangere \u2018to break\u2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Where does alpha come from? How much should you pay for alpha? If a fund manager claims that his portfolio is a &#8220;long-term&#8221; bet, then does it make sense to just buy all the stocks in his portfolio rather than pay him an asset management fee for the privilege? How much do &#8220;other&#8221; investments add &hellip; <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3471,9],"tags":[2541],"class_list":["post-1997041","post","type-post","status-publish","format-standard","hentry","category-investing-insight","category-your-money","tag-theme","entry"],"_links":{"self":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts\/1997041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/comments?post=1997041"}],"version-history":[{"count":0,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts\/1997041\/revisions"}],"wp:attachment":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/media?parent=1997041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/categories?post=1997041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/tags?post=1997041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}