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 71–80 of 100
  1. 071Shantam Mutual Fund's low volatility index fund backtested at 15.1% a year against 13.2% for the parent index, with lower volatility, but in three live years it lags by 1.8% a year and holds 38% in consumer staples. Is the factor broken, or is this what the strategy looks like?Index funds, ETFs and passiveCorePassive and index teamsProduct and strategy roles
  2. 072In a two-hour case on Meghmalhar Business Parks, a listed office REIT, 35% of leases expire in two years with in-place rents 18% below market, and the weighted lease expiry is 4.2 years. Estimate the rent reversion upside and the vacancy risk, and decide whether the units are fairly priced at a 7% distribution yield.Valuing listed securities: IPOs, DCF and REITsHardEquity research at AMCsGlobal asset managers
  3. 073At Madhuvan Mutual Fund, a missed 1:1 bonus issue understated an equity fund's NAV by 0.9% for three days, during which investors bought Rs 45 crore and redeemed Rs 30 crore. Who was harmed, by how much, and who pays to put it right?NAV operations and operational riskHardFund operationsRisk and compliance
  4. 074The Vidyadhara Scholarship Trust has a Rs 10 crore corpus and must spend 5% a year on scholarships, with costs rising 6% a year. What return must it earn to keep the corpus intact in real terms (about 11.3%), how much equity does that need, and what spending rule protects scholarships in a bad year?Retirement, withdrawals and life eventsHardWealth and advisoryDistribution and sales
  5. 075Pitch Bhandarika Logistics, a warehousing company with 18 million sq ft, 91% occupancy, 5% annual rent escalation and a 12% yield on new capex. Is its growth funded by debt or by cash flow, and what is the pitch?Equity research and stock pitchesCoreFidelity InvestmentsToronto · 2024
  6. 076Two fund houses each manage Rs 1 lakh crore. One is 70% debt, the other 70% equity. Compare their revenue, and show what a 20% fall in equity markets does to each.AMC and distribution economicsWarm upProduct and strategy rolesIndian AMCs
  7. 077A value fund has lagged its benchmark by 4% a year for three years, but its downside capture is 70% and upside capture 85%. A platform wants to drop it. When would it be expected to win, and would you keep it?Performance review and attributionCoreFund research and ratingsDistribution and sales
  8. 078After a 150 basis point hiking cycle, a short duration fund yields 7.8% against 6.1% a year ago, with a duration of 2.5. What one-year return should an investor expect if rates stay flat, fall 50 or rise 50, and why is the starting yield the best single guide?Duration and rates positioningCoreFixed income desksIndian AMCs
  9. 079An analyst has high conviction in a stock and wants the fund to hold 7% of NAV against an internal limit of 5%. The position would be Rs 350 crore in a stock that trades Rs 8 crore a day. What would make the investment committee comfortable, and what should it refuse?Compliance, risk limits and conductCoreNuveenNew York · 2021
  10. 080A fund compares a 5-year AAA(SO) bond rated on a parent guarantee at 7.9% with a plain AA plus bond of an unrelated manufacturer at 8.1%. What does the structured obligation actually protect, and which would you own?Debt fund credit decisionsCoreFixed income desksIndian AMCs

Company names and figures are illustrative.