Mutual Fund

Often individual’s gaze through newspaper to find NAV of their respective schemes when market is hot. But when market is down they ignore to follow their investment. With market bouncing back and with the benchmark indices Sensex and Nifty delivering one year return of 25 per cent now they may back to look for the NAV.
To their surprise they could not find NAV of their schemes. Don’t worry it could have got merged with some other existing schemes of the fund house.To know your new schemes go through the attached table to find your new schemes.

Old New Merged date
SBI One India Fund SBI Magnum Equity Fund 8/10/2012
Principal Services Industries Fund Principal Growth Fund 8/10/2012
Sundaram India Leadership Sundaram Growth Fund 6/11/2012
UTI-SUNDER UTI-Nifty Index Fund 3/14/2012
UTI-Master Index Fund UTI-Nifty Index Fund 3/14/2012
ING Contra Fund ING Dividend Yield Fund 2/24/2012
Tata Mid Cap Fund Tata Growth Fund 2/24/2012
Tata Capital Builder Fund Tata Growth Fund 2/24/2012
Canara Robeco Multicap Canara Robeco Equity Diversified 2/2/2012

The new schemes investment objective will be different from your investment idea.For instance Principal Services Industries fund investment objective was to invest in service industry stocks but its has now got merged with the Principal Growth fund – a diversified fund.
In such a situation you can either go with the same schemes or with market being at an elevated level sell and invest the proceeds in new schemes according to your risk profile.
There are funds that performed exceedingly well when the theme is hot. But with change of fortune they will completely underperform the broader markets for years together.

If you are a kind of investors have less time to monitor your portfolio it’s better to stick to diversified schemes rather than theme funds.
(Author can be reached at suresh@myassetsconsolidation.com).