"In the long run, we are all dead," so said renowned economist John Maynard Keynes. However, when it comes to the world of mutual funds, I would like to rephrase that statement to: "In the long run, master the art of patience and you shall reap the benefits".
I have always been of the opinion that the term 'long run' is extremely subjective and varies in reference to tenure, depending on who is using it. In the financial advisor community, this term could be anywhere between 3-5 years and could even extend up to 15 years. And that is the reason I once again reiterate that there is no right or wrong definition. It actually depends on the goals of the investor and the duration for which he is ready to block funds for that particular investment.
A few weeks back, the Regulator came out with a statement saying that there are 9 fund houses where more than 50% of their schemes have underperformed their respective benchmarks consistently for a period of 3 years and another 9 wherein