The scheme will mimic the Nifty Alpha Low Volatility 30 index. This benchmark has 30 stocks picked from the Nifty 100 and Nifty Midcap 50 indices using two parameters – alpha and low volatility with equal weight. Stocks with high Jensen’s Alpha (returns over what markets/indices deliver) are selected. The Nifty150 TRI is the benchmark for determining excess returns. Stocks with low standard deviation (measure of volatility) are selected using a rule-driven process. Exposure to individual stocks is capped at 5 per cent. The index is rebalanced twice a year. Stock inclusions and exclusions to the index are rule-based. … [Read more...] about ICICI Pru Alpha Low Vol 30 ETF NFO: Should you invest?
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- Phase 2 (2006 to 2014) – Unsuccessful international M&A: Pidilite deployed close to ~Rs 685 crores in international acquisitions (26% of operating cash flows over this nine-year period) in Brazil, Middle East, USA and in acquiring an elastomer manufacturing plant in France. Pidilite bought small companies, some of which were operating in unrelated industries, without any market leadership. In countries like Brazil, the acquisitions were faced with economic collapse in the country, and issues with the legacy management team of the company. Over the past decade,Pidilite has written off ~Rs 175 crores worth of its investments in subsidiaries in Brazil and the Middle East, and ~Rs 300 crores of its investments in the elastomer project. The acquisition made in the USA (Cyclo) has been sold off in 2017 for ~Rs 30 crores. … [Read more...] about Saurabh Mukherjea’s investment mantra to navigate through a crisis: Part-2