Moving Money.

(From Business Today (India))

Byline: Shilpa Nayak

Mutual funds have been all the rage for retail investors. They put top-notch investment professionals on your job, no matter how small your kitty, and give you returns you couldn't dream of on your own. Some of these high performers, especially those known in industry parlance as 'fund managers', have even achieved quasi-heroic status-with their individual talent the subject of many Dalal Street conversations.

So what happens if your own heroic fund manager moves from your fund to another-should you move your money too?

Movements

Professionals. That's what most fund managers are. And like others of their ilk, they shift jobs. With over 30 well-known fund houses in the country, all in a state of bitter mutual rivalry, this is only to be expected. High-profile movements make news, too. Nilesh Shah, well known as CIO (Fixed Income), Franklin Templeton, has just moved to PruICICI Mutual Fund as its CIO, in place of Dileep Madgavkar, and people are talking about it. Some other movements over the past few months have been Shyam Bhat (from Tata Mutual Fund to Principal Mutual Fund), Deepesh Pandey (from Templeton to PruICICI) and Anil Sarin (from Kotak group to PruICICI).

There have been other shifts too, and if you aren't in the habit of tracking who the managers on your funds are, perhaps it's time you did. The newsletters and investment updates that funds send out contain this sort of information. The pink papers do their own bit, too.