There was a time when you could pick a pedigreed fund with a 10-15-year track record and buy any scheme. Or pick a star fund manager and hitch your wagon to the star performer. You could fill it, shut it and forget it. But those times are over. In the past few years, both star fund managers and star fund houses have been challenged by the tough market conditions prevalent since the 2008 global market crisis, which started with the collapse of Lehman Brothers. And its after-effects still persist.
The S&P BSE Sensex has been quite volatile since 2008, caused in part by global events, and even the best fund managers are finding their old philosophies being challenged.
