Sticking to quality companies across cycles have helped Anand Radhakrishnan stay the course.
During the famous tech bubble, when he was managing a fund at Sundaram Mutual Fund, Radhakrishnan under performed his peers for almost two years. Most fund managers had bet heavily on the tech sector. In fact, some funds even had an exposure as high as 60% to the sector while Radhakrishnan had capped the fund’s exposure at 30%. “We chose to remain invested in quality tech companies. It was a difficult thing to do when the rest of the market was doing well. But my boss kept telling me not to worry, these valuations are not sustainable. It is okay even if you manage the funds conservatively, but do not take the risk,” recalls Radhakrishnan. Once the tech bubble burst, the Sensex fell from 5,500 to 2,900, a fall of nearly 50%. His fund fell by about 40% which was still reasonable considering most other funds fell by more than 70%.
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