Tough Call. I would still go with Magnum Contra. Sandeep shabarwal had played a vital role in making Magnum Contra a top fund. Will he make JM Contra like another Magnum Contra while he is there? Most likely answer is yes.
But how long is he going to stay with JM Financial? In the present times can he still single handedly pull it off as he had done it in the past without the proper research support from JM Financial? Those are the uncertian things.
On the other hand, Magnum Contra without Sandeep Shabarwal has still managed to maintain a consistant above average performance. So I would pick Magnum Contra.
i am holding both and would utltimately move to one.
it will take some time to realize if Magnum contra got any impact after sandeep left and again will take for sandeep to bring JM Contra from.
its better to go with Magnum contra cuz their must be a process which was established by the fundhouse during sandeep shabarwals engagement.
And offcourse JM is in that process but better to bet on past then future expectation as pointed out how long sandeep stays with JM is one question.