Recently I came across the article in one of the newspapers titled ICICI Prudential Multicap Fund: Good returns, well diversified.
This struck me that we have already started recommending the scheme since last 2 years. You are one of the luckiest investor who invested in the early stage of the performance of the scheme.
I bet this article would have not appeared before 2 years as, before 2 years, the past performance of the scheme was pathetic.
Then question comes that how could we cold got the confidence of recommending the scheme were the past performances were not up to the mark. The reason behind it is that we have constant touch with the fund management team and we were lucky to get the right communication about their performances and steps to improve it. Further, there is an in house rigorous research which provides the indication about the probable future performances of the schemes.
This required lot of man hours and a cost is attached to it.
Conclusion: Never fully rely on the past performances of the schemes, it has importance; comparable to the importance of the rear view in driving, but you need front view mirror for investing and we are there to support you!!