Research powered by 20+ years of data

Methodology

The corpus multiplier: why 30× beats a safe withdrawal rate

Most retirement calculators assume steady returns every year and quietly understate how much corpus you actually need. Here's why a 30-year retirement needs a 28-30x expense multiple, not the 19-20x a straight-line calculator will show you — and why 25x is the real danger line.

Alpha Lab

5 MIN READ

We measured alpha for 1,066 equity funds. Here's who earned it.

Only 1 in 3 active equity funds beat their benchmark over 3 years. But within that third, the gap between top and bottom is wider than most investors assume — and the winners cluster in unexpected categories.

Portfolio X-Ray

4 MIN READ

Mutual fund overlap: what it really means (and when to actually worry)

Most retail investors hold several equity funds thinking they've diversified. Often they've just paid multiple expense ratios for the same portfolio. Here's how much overlap is normal, how much is a warning sign, and what to actually check before you add another fund.

Methodology

6 MIN READ

Fund health score: why peer-relative beats absolute thresholds

Most fund scorecards fail the same way: they punish a small-cap fund for higher volatility and reward a large-cap fund for lower returns. The Punji health score solves this by comparing every fund only against its SEBI category peers — not against a universal yardstick that conflates apples with mangoes.

Alpha Lab

9 MIN READ

The Quality Trap: A 13-Year Alpha Audit of Indian Equities

Across multiple bull runs, bear markets, and a once-in-a-generation crash, the evidence from Indian equities is consistent: systematically screening for quality does not generate alpha. But the data reveals exactly when it does — and what that tells us about how quality should actually be used.