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Avoiding mistakes, betting on quality helped us do better: Anurag Mittal

While Mittal believes that time spent in market is a positive and can be helpful, there is no magic number of between 30 and 35 years at which to set a minimum threshold for experience, as per him

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Around five or six years ago, IDFC Asset Management Company fund manager Anurag Mittal was looking to try his hand at adventure sports. After some research, he settled on doing them in New Zealand, a country which he found to have an exceptional safety record when it came to such activities. He ended up doing both bungee jumping and skydiving.

A similar ‘safety first’ approach to his investment portfolio helped him win the best debt fund manager award (short to medium duration) at the Business Standard Fund Cafe 2019 held earlier in August. He managed the IDFC Banking and PSU Debt Fund and the IDFC Corporate Bond Fund. Both had a 100 per cent allocation to AAA-rated bonds, indicative of the highest levels of safety, even as others in the category had significantly more exposure riskier papers.

His corporate bond fund managed a one-year return of 8.64 per cent. The other had returns of 10.58 per cent. The higher returns came even with the conservative approach to asset allocation. In fact, the weighted average Sharpe ratio for the two funds, a measure of returns generated per unit of additional risk taken, was 3.98-the highest among peers short-listed for the award.