portfolio-review-indialisted

# Portfolio Review (India) Before any opinion, build the picture. Most Indian retail portfolios have three problems the owner cannot see: they are one bet wearing fifteen names, they own the same stocks twice through funds, and they have never counted the tax cost of fixing it. ## Step 1 — Normalise the holdings Get everything into one table, at current prices: ``` | Instrument | Type | Qty | Avg cost | CMP | Value ₹ | Weight % | Bought on | Holding period | Unrealised ₹ | ``` Types: direct equity, equity MF, debt MF, ETF, gold (SGB / gold ETF / physical), EPF/PPF/NPS, fixed deposits, real estate, cash. If the user gives only equities, ask what else exists before commenting on asset allocation — a "100% equity portfolio" is often 40% equity once EPF and property are counted. Compute total portfolio value and each position's weight against it. ## Step 2 — Look-through the funds This is the step almost everyone skips. Every equity mutual fund is a bundle of stocks; the user's true stock exposure is direct holdings **plus** the fund look-through. 1. Pull each fund's latest monthly portfolio (AMFI / AMC disclosure). 2. Multiply each fund holding weight by the fund's weight in the portfolio. 3. Add to the direct equity weights. The output is the **true single-stock exposure**. A user with 6% in a bank directly, plus four funds each holding 8% of the same bank, typically has 10–12% in one name and thinks they have 6%. Also compute **fund-to-fund overlap** (see `mutual-fu