Value Research to analyse top mutual funds. We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
How has the fund performed?
With a 10-year return of 9.79%, the fund has underperformed both the benchmark index (11.71%) and the category average (11.33%).
The fund has outperformed both index and category average over the past decade.
Annualised performance (%)
The fund has struggled to outperform over 1- and 3-year time periods.
As on 5 Sept, 2018
Yearly performance (%)
The fund has been fairly consistent in outperformance in recent years.
Date of launch: 24 Feb, 1995
Type: Large & Midcap
Average AUM: Rs 6341.77 cr
Benchmark: S&P BSE 200 Total Return Index
What it costs
NAVs (As on 31 July, 2018)-
Growth option: Rs 427.57
Dividend option: Rs 98.26
Minimum investment: Rs 1,000
Minimum SIP Amount: Rs 1,000
Expense ratio: 2.32%
Exit load: 1% for redemption within 365 days
Fund manager: Satyabrata Mohanty
Tenure: 6 years & 10 months
Education: B.Com, CA, CFA
Where does the fund invest?
The fund is currently tilted towards large caps.
Top 5 sectors in portfolio (%)
The fund is currently heavily invested in financials.
Top 5 stocks in portfolio (%)
The fund portfolio features few large positions in index heavyweights, yet is otherwise index agnostic.
How risky is it?
The fund’s risk-return profile is similar to that of its category average.
Wherever not specified, Data as on 31 July, 2018. Source: Value Research
Should you buy?
Originally a multi-cap offering, the fund has morphed into a large- and mid-cap one after the re-categorisation. The shift in mandate has meant substantial change in investing approach. It has had to hike its mid-cap exposure significantly. The fund will cap its mid and small-cap exposure to 50% of the portfolio. While the fund took huge deviations in select sectors relative to the index in its previous avatar, it has now opted for a more broad-based portfolio. At the aggregate level, it still takes an index agnostic approach in its individual bets. While the fund has struggled to outperform over the past year, investors should allow it to build a track record under the revised mandate and assess its performance over a longer timeframe.