Funds are supposed to be known by the people who manage them.
It is said that people like M Venugopal who was the Fund manager at Tata Mutual Fund did not manage properly.
This why Tata’s two funds - Tata Capital Builder and The Tata Service Industries Fund – has earned the dubious distinction of getting listed among underperforming funds. We know Mr M Venugupal was managing them.
According to fearless journalist Sucheta Dalal’s Moneylife survey Tata Capital Builder, launched in September has underperformed the benchmark.
The Tata Service Industries Fund has done even worse. It has given a return of -12% in the last ten years.
In view of this, it has now become imperative for investors to be much more careful than ever before.
Mr Venugopal has now moved over to L&T Mutual Fund and considering his track record, I would like to alert my fellow investors to beware of the funds managed by him.
- Shankaran Nair, Ernakulam
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