Mohnish Pabrai's flagship hedge fund is up 3.8% net for the year to the end of June, compared to a return of 18.5% for the S&P 500 and 15.4% for the Dow Jones Industrial Average.
For the financial year to the end of June, Pabrai's Investment Funds' flagship fund, PIF2, lost -19.2%, underperforming the S&P 500 by 29.6%.
Still, despite this disappointing performance, over the long-term PIF2 is smashing its benchmark.
Since inception, the fund has returned 12.2% annualized after fees and expenses, compared to 6% for the S&P 500 and 7.6% for the Dow Jones Industrial Average.
Since its inception, the fund has yielded a cumulative return of 763%, compared to 196.2% for the S&P 500 and 293.5% for the Dow Jones Industrial Average.
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Indian exposure holds back returns
According to Pabrai's second-quarter investor letter, a copy of which ValueWalk has been able to review
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