How D-Streets roaring 2020 proved a bittersweet year for Indias midcap mogul

By Chiranjivi Chakraborty9 days ago

MUMBAI: One of Indias most accomplished value investors, Kenneth Andrade, is what the Reddit generation will call the original diamond hands. The former star fund manager of IDFC Mutual Fund is known for his buy and hold strategy through which he has over the years discovered hidden gems like Page Industries, MRF and VA Tech Wabag.

Kenneth had a formidable track record of giving 22.3 per cent annualised returns for a decade when he was managing IDFC MFs flagship IDFC Premier Equity Fund, which earned him the moniker midcap mogul from the Forbes magazine in 2011.

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In 2015, Andrade went his own way to start Oldbridge Capital, a boutique portfolio management service and alternate investment fund. Within five years, the total asset under management of his PMS is on its way to match the Rs 5,289 crore assets of his former IDFC Premier Equity Fund (now known as IDFC Multicap Fund).

The financial year gone by, though, turned out to be a bittersweet one for the fabled fund manager.

On one hand, his discretionary and advisory clients nearly doubled their money and outperformed their respective benchmarks. The two discretionary portfolios managed by Andrade, namely All Cap Fund and Thematic Portfolio, logged 99 per cent and 87 per cent returns, respectively, during the financial year gone by.

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