Motilal Oswal Asset Management Company Ltd. (MOAMC) is a public limited company incorporated under the Companies Act, 1956 on November 14, 2008, having its Registered Office at 10th Floor, Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai - 400025.
Motilal Oswal Asset Management Company Ltd. has been appointed as the Investment Manager to Motilal Oswal Mutual Fund by the Trustee vide Investment Management Agreement (IMA) dated May 21, 2009, executed between Motilal Oswal Trustee Company Ltd. and Motilal Oswal Asset Management Company Ltd.
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Motilal Oswal 5 Year G-Sec Fund of Fund (G) - 10.0277Motilal Oswal Asset Allocation Passive Fund of Fund – Aggressive (G) - 11.5825Motilal Oswal Asset Allocation Passive Fund of Fund – Aggressive-Dir (G) - 11.6214Motilal Oswal Asset Allocation Passive Fund of Fund – Conservative (G) - 11.0987Motilal Oswal Asset Allocation Passive Fund of Fund – Conservative-Dir(G) - 11.1404Motilal Oswal Dynamic Fund (Div-A) - 14.2282Motilal Oswal Dynamic Fund (Div-Q) - 12.345Motilal Oswal Dynamic Fund (G) - 15.7Motilal Oswal Dynamic Fund-Dir (Div-A) - 14.4666Motilal Oswal Dynamic Fund-Dir (Div-Q) - 12.5737Motilal Oswal Dynamic Fund-Dir (G) - 16.6457Motilal Oswal Equity Hybrid Fund - Direct (G) - 16.4498Motilal Oswal Equity Hybrid Fund - Regular (G) - 15.6495Motilal Oswal Flexi Cap Fund(D) - 27.1399Motilal Oswal Flexi Cap Fund(G) - 36.1049Motilal Oswal Flexi Cap Fund-Dir(D) - 27.2458Motilal Oswal Flexi Cap Fund-Dir(G) - 38.7521Motilal Oswal Focused 25 Fund - Direct (D) - 22.5303Motilal Oswal Focused 25 Fund - Direct (G) - 38.4866Motilal Oswal Focused 25 Fund (D) - 20.1758Motilal Oswal Focused 25 Fund (G) - 34.3763Motilal Oswal Large and Midcap Fund - Dir (D) - 17.1791Motilal Oswal Large and Midcap Fund - Dir (G) - 17.1936Motilal Oswal Large and Midcap Fund (D) - 16.5971Motilal Oswal Large and Midcap Fund (G) - 16.5971Motilal Oswal Liquid Fund - Direct (Div-D) RI - 10.0077Motilal Oswal Liquid Fund - Direct (Div-F) RI - 10.0043Motilal Oswal Liquid Fund - Direct (Div-M) - 10.0528Motilal Oswal Liquid Fund - Direct (Div-Q) - 10.026Motilal Oswal Liquid Fund - Direct (Div-W) RI - 10.0058Motilal Oswal Liquid Fund - Direct (G) - 11.2259Motilal Oswal Liquid Fund - Regular (Div-D) RI - 10.0055Motilal Oswal Liquid Fund - Regular (Div-F) RI - 10.0042Motilal Oswal Liquid Fund - Regular (Div-M) - 10.0515Motilal Oswal Liquid Fund - Regular (Div-Q) - 10.025Motilal Oswal Liquid Fund - Regular (Div-W) RI - 10.013Motilal Oswal Liquid Fund - Regular (G) - 11.178Motilal Oswal Long Term Equity Fund (D) - 21.2113Motilal Oswal Long Term Equity Fund (G) - 27.0014Motilal Oswal Long Term Equity Fund -Dir (D) - 25.3449Motilal Oswal Long Term Equity Fund -Dir (G) - 29.5712Motilal Oswal Midcap 30 Fund (D) - 26.462Motilal Oswal Midcap 30 Fund (G) - 43.3168Motilal Oswal Midcap 30 Fund-Dir (D) - 27.4366Motilal Oswal Midcap 30 Fund-Dir (G) - 47.6367Motilal Oswal Multi Asset Fund - Direct (G) - 11.0357Motilal Oswal Multi Asset Fund (G) - 10.8345Motilal Oswal Nasdaq 100 FOF - Direct (G) - 24.2465Motilal Oswal Nasdaq 100 FOF - Regular (G) - 23.9667Motilal Oswal Nifty 50 Index Fund - Direct (G) - 15.0498Motilal Oswal Nifty 50 Index Fund (G) - 14.9346Motilal Oswal Nifty 500 Fund - Direct (G) - 17.3864Motilal Oswal Nifty 500 Fund (G) - 17.1473Motilal Oswal Nifty Bank Index Fund - Direct (G) - 14.6152Motilal Oswal Nifty Bank Index Fund (G) - 14.4152Motilal Oswal Nifty Midcap 150 Index Fund (G) - 20.2464Motilal Oswal Nifty Midcap 150 Index Fund-Dir (G) - 20.5437Motilal Oswal Nifty Next 50 Index Fund - Dir (G) - 14.8476Motilal Oswal Nifty Next 50 Index Fund (G) - 14.6674Motilal Oswal Nifty Smallcap 250 Index Fund (G) - 20.7092Motilal Oswal Nifty Smallcap 250 Index Fund-Dir(G) - 21.0056Motilal Oswal S&P 500 Index Fund - Direct (G) - 15.4219Motilal Oswal S&P 500 Index Fund (G) - 15.2694Motilal Oswal Ultra Short Term Fund - Dir (Div-D) - 10.0245Motilal Oswal Ultra Short Term Fund - Dir (Div-F) - 10.0484Motilal Oswal Ultra Short Term Fund - Dir (Div-M) - 10.0316Motilal Oswal Ultra Short Term Fund - Dir (Div-Q) - 10.176Motilal Oswal Ultra Short Term Fund - Dir (Div-W) - 10.0357Motilal Oswal Ultra Short Term Fund - Dir (G) - 14.2037Motilal Oswal Ultra Short Term Fund (Div-D) - 9.9629Motilal Oswal Ultra Short Term Fund (Div-F) - 9.9737Motilal Oswal Ultra Short Term Fund (Div-M) - 9.9634Motilal Oswal Ultra Short Term Fund (Div-Q) - 10.1082Motilal Oswal Ultra Short Term Fund (Div-W) - 9.9665Motilal Oswal Ultra Short Term Fund (G) - 13.7219

What windscreen wipers teach you about investing behaviour

Blog Blog Details
  • April 11, 2019
  • Aashish Somaiyaa|
What windscreen wipers teach you about investing behaviour

It’s quite pertinent to note that while the stock markets are based out of Mumbai, Mumbai is also endowed or cursed as the case may be with very heavy rainfall. As a result Mumbaiites are very clued on to the wild gyrations of the stock market index and also used to sitting through hours in the traffic amidst heavy rainfall and water-logging. 

Many years back, on one frustrating rainy evening journey circa 2002-03 from South Mumbai back home to the suburbs along with office colleagues the conversation veered towards the general apathy in the markets, the impact on investor sentiment and associated investor psychology. 

Just a couple of years earlier there was a frenzy to buy equity funds in general and technology funds in particular. As a trainee in end 1999 early 2000 I had myself witnessed an event for launch of a technology fund where the projector did not work for a product presentation (so much for the technology) and still pretty much everyone in attendance invested basis some half-baked communication and flyers circulated. At another city close to Mumbai, the fund had not opened local collection accounts and still investors decided to purchase demand drafts and anyway go with the investment at additional cost to their pocket. Such was the conviction level that selling effort was pretty much not required. Its well-known that technology investments took 10 years to produce returns eventually – and one can use that experience as a positive example of the “waqt har zakhm ko bhar deta hai” type or one can use that experience as a negative example of the "Aaj ek dua aur maang lo, aaj ek aansoon aur pee lo, aaj ek zindagi aur jee lo, kya pata, kal ho naa ho..." types…

And here we were in 2002-03, where the general belief appeared to be like the world was coming to an end and there was no “kal” (tomorrow). How can beliefs swing so wildly? We were just discussing the behaviour and a fresh downpour caused my friend at the wheel to turn on the windscreen wipers. Staring blankly at the screen amidst a gloomy mind frame further compounded by the external gloom, an unlikely analogy struck my mind.

Since then I have been telling investors not to behave like windscreen wipers. While the downpour wets the whole windscreen, the wipers oscillate left to right and back in their own kind of quarter circular cross breed elliptical kind of path. But what’s obvious is that there’s never a moment where the screen is wiped dry with the vision for the driver being completely clear. When the wiper is at one end of its trajectory, the water obviously wets the other end and by the time the wiper comes back there at that end of the trajectory, the former end is wet again. Net net, water keeps pouring and the wipers keep moving from one end to other, tirelessly; at the mercy of the water and the driver. 

Market participants and investors’ behaviour appears quite like this wiper each time I hear some of the recent commentary. Equity has given negative returns so let’s put money into debt. Active funds have underperformed so let’s buy index, small and midcaps have caused losses so let’s buy large caps, MultiCap 35 which was number 1 on 1 year basis is not there anymore so let’s buy the new number 1.

Don’t be a wiper. Ascertain the causes of something going against you, how long has it been and is likely to work against you, understand the causes and then decide whether it’s time to come back and double down or just stay at rest or not to come back, stay away and bail out. 

Just like the wiper function has a cycle to it, the stock markets are also cyclical – asset classes, market caps, fund flows, investing styles like growth and value, philosophies et al. But your objective is to create wealth over the long term, not to wipe water over a windscreen, with great urgency; lest your master’s vision be hampered.

Yours Sincerely,
Aashish P Somaiyaa
MD & CEO – Motilal Oswal AMC



“Reproduced from original article written for cnbctv18.com; published on June 14, 2019”


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