India’s most celebrated value fund manager and former CIO of HDFC Mutual, Prashant Jain, attempted to moderate expectations of investors in his newly launched fund, even as the scheme delivered outstanding performance, generating nearly double the return seen in the Nifty since the fund kicked off in May 2023.
In his latest quarterly newsletter, Jain said the fund’s performance was akin to a cricketer scoring a century in his debut match. “Sourav Ganguly scored 131 runs in his debut test, and his overall average was 42 runs (113 test matches). The fund’s strong start must be looked at similarly,” he said.
