Kenneth Andrade – Peter Lynch of India?

Updated as of 29th June,2014

One can argue whether he deserves the tag or not or its too early to attach the tag. Hence the Question mark in the title.

Kenneth manages popular fund IDFC Premier Fund. Premier Fund’s AUM has grown from around 200crs in 2006 to around 4400crs currently. Fund has delivered 20%+ CAGR since launch and 15%+ over last 3 years. Had he not went overboard on PSU stocks in 2012, his fund would have been in top quartile now.

Let’s look at some of the portfolio’s holdings. I tried to find out the avg. purchase price through bulk deals and avg. qtrly price found earliest in the shareholding pattern.

Strides Arcolab -» Had first acquired 4.38 lac shares @ 63 in Feb’09. Almost 15 bagger now. Exited.

Bata India -» Avg. price of 100 during the Dec’08 Qtr. That’s around 12 bagger in 5 and half years!

Page Industries -» Avg. Price of 400 during the June’07 Qtr. 18.5x now. 10%+ dividend yield on top of that.

Kaveri Seeds -» Avg. price of Rs 50 (adjusted for split). Around 14.5x since first entered.

VST Industries -» Acquired 2.22 lac shares @ 575 during Oct’10. More than 3x now. Exited.

Blue Dart Express -» Acquired 1.82% stake at an avg. price of 650 during the June’08 quarter. 6x now.

MRF ->> Avg. Price of Rs 10,000 during the Sept’12 Qtr. 2.3x now.

Coromandel International ->> Avg. Price of Rs 75 (adjusted for split) during Sept-Dec’08 Qtr. Around 3.5x now.

Doubled his returns in Hexaware and e-clerx. Both exited.

Other holdings like Asian Paints,GSK Consumer and STFC have delivered steady returns.Exited.

Pantaloon and IRB Infra are among the few stocks which didn’t played out for the fund.

P.S. Fine. We will attach the tag after the next bear market!

Disclosure: Have vested interest in the fund.

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8 responses to “Kenneth Andrade – Peter Lynch of India?

  1. wouldn’t prashant jain of hdfc qualify as the peter lynch of india?

  2. good to see that you are blogging a bit more regularly again….enjoy your posts.

  3. Prashant Jain’s style of investing is bit different. Kenneth himself considers Peter Lynch as his Guru.

  4. Someone to follow, emulate and learn from, good write up Devesh.

  5. vishonlyvishVishal Patil

    Hi Devesh, I new to investing and going through various blogging sites.
    How one can get to know that which fund has bought on what stocks as soon as they buy?

  6. Investor/Fund has to disclose to exchanges only if they buy 0.5% or more in a day so its not possible to find out if they bought less than that and they continue to do such transactions for few days. You can check month-end portfolio of MFs on valueresearchonline.com

  7. vishonlyvishVishal Patil

    Thanks a lot for the response Devesh.

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