Pabrai Flagship Returns 92 Percent In 2017; 14X Return On Indian Small-Cap

2017 was the best year in performance terms for the active fund industry since the financial crisis. Around half of all the active funds in operation throughout the year managed to beat their benchmarks and equity hedge funds on average achieved a double-digit return. Mohnish Pabrai‘s Pabrai Funds is the exception to this rule. In a year where the S&P 500 added 21.8%, Pabrai was able to achieve a return of 92.2% for the investors of his leading fund.

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Pabrai’s PIF 2, the largest of the three funds managed by Pabrai Funds, returned 92.2% according to the firm’s letter to investors, a copy of which has been reviewed by ValueWalk. Meanwhile, PIF 3 and PIF 4 returned 109.2% and 62.4% respectively. All of the funds easily outperformed the S&P 500 during the year.

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