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 91–100 of 100
  1. 091A focused fund of 30 stocks returned 18% a year against 15% for a diversified peer over five years, but three stocks contributed 60% of the excess. Is this repeatable skill or concentrated luck, and how would you tell?Performance review and attributionCoreFund research and ratingsDistribution and sales
  2. 092A floating rate fund (quarterly resets, spread duration 2.5, rate duration 0.3) and a short duration fund (duration 2.4) both yield 7.4%. If rates rise 100 basis points and credit spreads widen 50, what does each lose, and which risk did the floater investor keep?Duration and rates positioningHardFixed income desksIndian AMCs
  3. 093A hybrid fund considers units of an office REIT: net operating income Rs 1,200 crore, cap rate 7.5%, debt Rs 4,000 crore, 100 crore units trading at Rs 118. What is NAV per unit, and what does occupancy falling from 90% to 78% do to it?Valuing listed securities: IPOs, DCF and REITsCoreInvescoNew York · 2025
  4. 094A Rs 50 lakh portfolio started at 60/40 equity-debt; after equity rose 60% and debt 7% over two years it sits near 69/31, outside a 5-point band. How much must move, and how can a Rs 60,000 monthly SIP do the work with minimal tax?Client portfolios and goal planningCoreWealth and advisoryDistribution and sales
  5. 095An equity fund with Rs 1,600 crore of net assets failed to accrue a Rs 3.2 crore dividend on the ex-date. By how much was NAV wrong, which investors were affected, and does the error cross the materiality threshold?NAV operations and operational riskWarm upFund operationsRisk and compliance
  6. 096A 65-year-old has Rs 50 lakh. An annuity at 7% pays Rs 29,167 a month for life with no capital returned. An SWP of the same amount lasts indefinitely if the portfolio earns 7.5% but runs out at about 90 if it earns 5%. How would you split the money?Retirement, withdrawals and life eventsCoreWealth and advisoryDistribution and sales
  7. 097An exam-prep subscription company has a customer acquisition cost of Rs 1,800, annual revenue per learner of Rs 3,200 at 65% gross margin, and 55% of learners renew each year. Does it have a competitive advantage and barriers to entry, and can its revenue growth last?Equity research and stock pitchesCoreMorningstarAnonymous interview candidate in · 2023
  8. 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
  9. 099A Rs 5,000 crore equity fund holding 3% cash sees net outflows of 12% in a month while the market falls 25%. Show the forced selling, the impact cost on the least liquid third, and how index futures could have bridged the gap.Liquidity, redemptions and stressHardRisk and complianceFixed income desks
  10. 100A fund house's market share fell from 3.1% to 2.4% in three years while the industry grew. Its flagship slipped to the third quartile and its bank distribution partner moved to a rival. Diagnose the decline consulting-style and prioritise three fixes.Scheme design and product strategyCoreProduct and strategy rolesIndian AMCs

Company names and figures are illustrative.