How has the fund performed?
With a 5-year return of 19.64%, the fund has fared significantly better than the benchmark index (15.67%) and the category average (16.43%).
The fund has delivered return on par with its category average over the past five years.
Annualised performance (%)
The fund’s performance across time periods has been a mixed bag.
Yearly performance (%)
The fund has not been among the consistent performers in its category.
Date of launch: 28th May, 2018
Average AUM: Rs 1,452.52 crore
Benchmark: Nifty 500 Total Return Index
What it costs
NAVs (As on 8th Jan, 2019)
Growth option: Rs 23.32
Minimum investment: Rs 1000
Minimum SIP amount: Rs 1000
Expense ratio (As on 30th Nov, 2018): 2.17%
Exit load: 2% for redemption within 365 days. 1% for redemption between 366 and 730 days
Fund manager: Rajeev Thakkar
Tenure: 5 years and 7 Months
Education: CA, CWA, CFA, CFP
Where does the fund invest?
The fund adopts a multi-cap approach, currently tilted towards large caps.
Top 5 sectors in portfolio (%)
The fund has overweight positions in technology and auto sectors.
Top 5 stocks in portfolio (%)
The fund runs a very compact portfolio with large positions in its top bets.
How risky is it?
The fund exhibits much lower volatility compared to peers.
Wherever not specified, data as on 30th Dec, 2018. Source: Value Research
Should you buy?
While classified as a multi-cap offering, the fund adopts a distinct value investing strategy. Its ‘go anywhere’ approach allows it to take exposure across sectors, market capitalisations and even geographies. The fund stands out because frontline foreign stocks can make up to 35% of its portfolio, through cash or futures market positions. This adds to the fund’s diversification. It has a compact portfolio with large positions in its high conviction bets. Occasionally, it also takes cash calls, depending on the market situation. The return profile of the fund, which only recently completed five years, is quite modest. But it exhibits much lesser volatility than most of its peers and has an ability to cushion downside better. Its value bias requires that investors stick around for the long haul.