Mutual Fund Mastery case studies, worked step by step

Cases
100
Traced to a firm
31
Topics
14
Hard
32
Topic
All topicsEquity research and stock pitches15Fund selection and due diligence9Debt fund credit decisions8Client portfolios and goal planning9Index funds, ETFs and passive6AMC and distribution economics6Performance review and attribution6Duration and rates positioning6Liquidity, redemptions and stress7Scheme design and product strategy7Compliance, risk limits and conduct6Valuing listed securities: IPOs, DCF and REITs5NAV operations and operational risk5Retirement, withdrawals and life events5
Level
AnyWarm upCoreHard
Source
AnyReported at a firmStandard
Showing 1–9 of 9 · filtered from 100Clear filters
  1. 003A debt fund is offered A-rated manufacturing bonds paying 250 basis points over AAA. With an assumed 3.5% three-year default rate and 35% recovery, does the spread pay for the risk, and what else must it pay for?Debt fund credit decisionsHardWellington ManagementLondon · 2021
  2. 017Defend a long on a private bank under questioning: NIM 4.1%, ROA 1.6%, gross NPA 2.1%, P/B 3.2x, but unsecured personal loans grew 48% last year to 22% of the book. What three questions will the interviewer grill you on, and what are your answers?Equity research and stock pitchesHardWellington ManagementBoston · 2019
  3. 025An AMC wants an ESG equity fund. Its exclusion list removes 18% of benchmark weight and raises expected tracking error to 3.1%. Design the investment thesis for a long-only manager, and show how you would stop the fund becoming a label on an ordinary portfolio.Scheme design and product strategyHardNeuberger BermanNew York · 2025
  4. 031A credit fund holds NCDs in three real estate projects with different loan-to-value, interest cover and unsold inventory. Rates have risen 100 basis points. Rank the three exposures and say which you would cut.Debt fund credit decisionsHardPIMCOMunich · 2024
  5. 032A two-wheeler maker's DCF gives Rs 15,900 crore but the market cap is Rs 22,000 crore. What growth is the market implying, and is it plausible?Valuing listed securities: IPOs, DCF and REITsHardSchrodersLondon · 2024
  6. 045A dynamic bond fund expects rate cuts and must choose between a 10-year callable bond with modified duration 7.1 and effective duration 4.2, and a 7-year bullet with duration 5.6, at similar yields. Which gains more from a 100 basis point fall, and what allocation would you run today?Duration and rates positioningHardAmundiLondon · 2018
  7. 064The equity savings fund of Sunandini Mutual Fund hedges part of its equity with index futures. A missed rollover left 8% of NAV unhedged on a day the market fell 4%. What did the lapse cost, why did the controls fail, and what should change?Compliance, risk limits and conductHardSchrodersNew York · 2021
  8. 090A fund house wants a fund of funds across Indian equity, international equity, short-term debt, gold and a listed REIT, with no sleeve above 40%, for a moderate-risk investor. Propose weights, then assess an underlying equity fund that returned 13.1% against a 12.4% benchmark with a beta of 1.25 while cash paid 6.5%.Fund selection and due diligenceHardNeuberger BermanLondon · 2022
  9. 098Formulate the portfolio optimisation for a 40-stock fund: maximise expected return minus a risk penalty, with no stock above 10%, no sector above 30% and one-way turnover under 15% a month. Solve a four-stock version by hand and show which constraint binds.Compliance, risk limits and conductHardBlackRockNew York · 2025

Company names and figures are illustrative.