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Morningstar downgrades two Prashant Jain managed funds


Total asset under management in both funds stands at Rs 31,962.67 crore.

In the last six months, the scheme has eroded 19.61 per cent of its value while five-year returns stand at a meagre 4 per cent.

Mutual fund rating agency Morningstar has downgraded two funds managed by star fund manager Prashant Jain from ‘gold’ to ‘silver’, saying that it sees an enhanced risks to the investment strategy employed by Jain. The agency said over the 5-year and 10-year time frames, the funds have been underperforming their respective benchmarks as well as category peers.

The two funds ...


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