Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,086.70114.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

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.

, ET Online|
Nov 18, 2019, 04.27 PM IST
0Comments
Getty Images
L&T Mutual
Soumendra Nath Lahiri, Chief Investment Officer of L&T Mutual Fund has left the AMC. He was managing most big equity and hybrid schemes of the AMC, holding a total AUM worth Rs 30,845 crore. Many mutual fund advisors and investors hold Lahiri in high esteem for his knowledge of mid cap and small cap space. Will his exit hit the schemes? What should investors do?

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:
Scheme1-Yr Return3-Yr Return5-Yr Return10-Yr Return
L&T Balanced Advantage Fund7.857.356.04-
L&T Emerging Businesses Fund-7.359.5811.02-
L&T Equity Fund5.079.826.9911.13
L&T Focused Equity Fund - Reg Plan12.76---
L&T Hybrid Equity Fund6.1598.78-
L&T Infrastructure Fund-4.289.618.377.62
L&T Large and Midcap Fund5.19.787.3411.97
L&T Midcap Fund-0.6610.1510.7114.25
L&T Tax Advantage Fund1.8310.398.711.96
Data as on 15th November
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service