Raghav

2 posts

Raghav

Raghav

@RaghavReadsFin

Inscrit le Mayıs 2025
202 Abonnements19 Abonnés
Raghav
Raghav@RaghavReadsFin·
@ActusDei Sir then whats the best way to invest in international markets for people who dont do individual stock picking? Is index investing through lsr route okay or does that also pose any issues?
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Neil Borate
Neil Borate@ActusDei·
GIFT City's active global funds are off to a rough start — and the data is hard to ignore. 🧵 1/ Every single active fund in GIFT is negative over the last 6 months. DSP Global Equity: -12.4%. PPFAS PMS Global Strategy: -5.6%. Marcellus GCP: -5.5%. Meanwhile, ACWI TRI was +0.7%. That's not a small miss. That's a different direction entirely. 2/ The "Since Inception" picture isn't prettier. DSP is -12.5% since Sept 2025. PPFAS is -2.6% since Aug 2025. The only funds with positive since-inception returns (Marcellus at 18.6%, Philip Int. at 7.7%) have multi-year head starts — and even they lagged ACWI TRI over 1 year. 3/ On a 1-year basis, Marcellus returned 8.9% vs ACWI TRI's 20.7%. Philip Int. Pioneer returned 21.9% — one of the few bright spots. Mirae? -11.1% vs benchmark's +20.7%. Brutal. 4/ Now let's talk tax. GIFT funds are structured as Category III AIFs. They pay tax at the fund level — ~42% STCG & 14.95% LTCG vs slab rate or 12.5% for an individual. 5/ If you instead bought a UCITS ETF (say, an Ireland-domiciled S&P 500 or ACWI fund) directly via the LRS route, capital gains tax kicks in only when YOU sell — and at your applicable slab rate or 12.5% for long-term. The fund itself pays zero Indian tax. 6/ So with GIFT active funds you get: ❌ Active underperformance vs benchmark ❌ Possible cash drag ❌ Fund-level tax leakage you can't control 7/ With a direct UCITS ETF investment: ✅ Near-zero tracking error to the index ✅ No fund-level tax — you control timing ✅ Lower cost, higher transparency 8/ The case for passive international investing has never been clearer. If GIFT funds can't beat ACWI TRI in a falling market (when stock-picking supposedly shines), when exactly will they? Story by @PosteAnil thefynprint.com/GBlfw8FDX
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Beat The Street
Beat The Street@BeatTheStreet10·
PG Electroplast has to issue clarification on fake and incorrect governance issues published by HDFC SKY This is what happens when you do AI Driven Forensic/ Stock Analysis
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