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Rupeeting Monthly Performance Update - June 2022

June 2022, you guessed it, saw abysmal market conditions across the globe, with trillions being wiped off the market and monetary bodies quaking in their boots, itching to pull the trigger for higher interest rates that can subdue the monstrous inflationary pressure.

The rupee didn’t rupeet like it was supposed to rupeet - with historical lows and all your NRI friends rushing to transfer money. Yet, we rupeeted (okay we’re done) for you, with robust allocations in debt instruments and resilient patience in equity holdings.

The Markets in June 2022

  • Stocks : With large cap performance taking a hit at -4.8%, mid cap at -5.4% and small cap, with a not-so-small -6.4%, the millennials are calling this a “no cap” market for India.

  • Debt : Due to the RBI’s timely rate hikes, increased borrowing and issuances, yields have risen ever so slightly, which benefitted our portfolios!

  • Gold : Prices have been trading flat lately, coupled with a commodity-wide cool off in prices.

  • International Stocks : In the famous words of NYSYNC, we continue to say “Bye Bye Bye” to our international markets exposure due to the continued volatility being observed across the board. Our decision was deemed effective as the NASDAQ 100 steeply dropped by 9.4%!

Rupeeting in June 2022

Due to our opportune decisions at the previous rebalance and careful observation, our All-Weather Portfolios managed to limit losses, when compared to our benchmark indices, and outperformed when compared to the Nifty and Sensex!

Our Equity Portfolios have managed to persevere as well, with 50% of the funds outperforming their respective comparative indices on average, and the other half not succumbing to the attacks of the June market. Here are reasons for their respective performances:

  1. Rocketship : Strategic movement in Tube Investments

  2. Value Migration : Portfolio was built different, chasing value wherever it goes

  3. Socially Responsible Investing : Large cap exposure assisted in performance

  4. Bread and Butter : The “Titan”-ic crash and midcap exposure owed to its downfall

  5. Disruptors : Internet stocks such as Zomato and PolicyBazar failed to deliver

  6. Monopolies : Defence stocks couldn’t keep up their consecutive outperformance, leading to a steep fall

Long term performance still speaks volumes for your faith in us and our portfolio managers toiling to ensure those gains for you!

What’s next for the market?

  • The 15% overall correction in the market, coupled with inflation and monetary policy tightening can cause further drop in demand

  • Earnings downgrades and valuation de-rating is occurring as we speak

  • However, value does seem to appear in pockets, and we shall scour the market for it

  • A selective and cautious approach is the way forward

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