MUMBAI: They chose to bet their own money first. In their own small way, they played the risk-reward game at Dalal Street, but stopped just before greed got the better of them. Far from brokerages and fund houses of Mumbai, a few inexperienced students stepped into the shoes of fund managers to display good investment skills while pursuing their B-school programmes. IIM Lucknow students pooled in money to enter the market last July, stayed invested till January but managed to exit before it was too late. They claim the fund has managed to outperform the benchmark indices.
Last year some 60 students of the 2007-09 batch had decided to try their hands in the stock market. They thought it would be a great way to prepare themselves for a job two years later at a mutual fund, investment bank or a brokerage. Each of them chipped in anything between Rs 5,000 and Rs one lakh to set up a tiny fund. They called it Credence Capital. Launched in July ‘07, the fund took exposure to stocks as well as derivatives. It generated returns of 29% on equity and 81% on derivatives when it was liquidated in January ‘08, against a 19% gain in Nifty during the period, claim the self-styled fund managers.
For more Details: http://economictimes.indiatimes.com/Corporate_Trends/IIM-L_60_beats_Nifty_50_gains/articleshow/3064229.cms
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