Why Active Fund Managers Shouldn't Buy Top Stocks

HDFC Bank is a top held position in roughly 90% of all active large, large mid cap and sometimes even small capital mutual funds. It remains that because these funds realize that, okay, if money keeps going to HDFC Bank, I might as well know a little bit so that I can also participate in that little bit. If it's 10%, I'll take 10%. So because of this, it actually makes sense for an active manager to simply just chase that performing stock. We've traded, we have traded something like this because the MSCI index, if you see, at some point the India index, there was, I think, Kotak Bank was about 3%