SN Lahiri exit: Keep L&T Mutual Fund schemes under close watch, say advisors
SN Lahiri was managing most big equity and hybrid schemes of the AMC, holding a total AUM worth Rs 30,845 crore.
Mutual fund advisors and analysts say Lahiri's absence would surely be felt in the funds, but they are keener to see who is going to replace Lahiri at L&T Mutual Fund. The absence of very senior fund managers in the fund house makes it very crucial, they say.
“The impact on the schemes managed by SN Lahiri would be based on who comes in at his place. There will be some impact but we will have to wait and watch till somebody else replaces him,” says Bhavana Acharya, co-founder, PrimeInvestor.in .
SN Lahiri was managing L&T Equity, L&T Emerging Businesses, L&T Tax Advantage, L&T India Large and Midcap, L&T Midcap, L&T Infrastructure, L&T Focused Equity, L&T Balanced Advantage, and L&T Hybrid Equity Fund.
Mutual fund analysts ask existing investors to be patient and continue with their investments in the schemes, while keeping a close eye on their performance.
“Investors should not get impatient and exit immediately. Instead they should keep these schemes under a close watch till there is a replacement,” says MS Shabbir, founder and managing director of SenSage Financial Services.
He says even his clients own some of these L&T schemes in their portfolio.
Prior to joining L&T Financial Services, Lahiri was head of equities at Canara Robeco Mutual Fund. In his previous assignments he was chief investment officer at Emkay Global Services and Fortuna Capital, and co-head - equities with DSP Merrill Lynch Investment Managers.
Here’s the current performance of the schemes managed by Lahiri:
|Scheme||1-Yr Return||3-Yr Return||5-Yr Return||10-Yr Return|
|L&T Balanced Advantage Fund||7.85||7.35||6.04||-|
|L&T Emerging Businesses Fund||-7.35||9.58||11.02||-|
|L&T Equity Fund||5.07||9.82||6.99||11.13|
|L&T Focused Equity Fund - Reg Plan||12.76||-||-||-|
|L&T Hybrid Equity Fund||6.15||9||8.78||-|
|L&T Infrastructure Fund||-4.28||9.61||8.37||7.62|
|L&T Large and Midcap Fund||5.1||9.78||7.34||11.97|
|L&T Midcap Fund||-0.66||10.15||10.71||14.25|
|L&T Tax Advantage Fund||1.83||10.39||8.7||11.96|