| dc.description.abstract | What is the performance of Mastershares —
the first all-equity, closed-end growth fund
launched in 1986 by the Unit Trust of
India— from the points of view of funds
management, large investors and small
investors?
Samir K Barua and Jayanth R Varma
examine this aspect using various portfolio
measures suggested in the literature.
According to them, from the perspective of
funds management, Mastershares has
outperformed the market. Its performance
from the point of view of large investors
holding Mastershares only as part of a
diversified portfolio has also been excellent.
However, from the point of view of
investors who choose Mastershares as the
principal vehicle for investment in equity, its
performance is mediocre. Since most small
investors are likely to be in this category and
any mutual fund such as Mastershares
ought to serve small investors, its inadequate
performance is a matter of concern. | |
