Over the past six months Master Plus has appreciated by 28.50 per cent. The fund is available at a 32 per cent discount.

At the prevailing discount and the increasing attractiveness of its portfolio, the downside risk in Master Plus its low. If the fund maintains its current NAV, the fund will yield a 46.5 per cent return in its remaining one and a half year tenure.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.