A Focused Fund With A Large Cap Bias: For The Core Portfolio

by Hansraj Agrawal | Sep 20, 2025 | Share Market

The clouds around the Indian markets over the past year are slowly clearing. From a scenario of slowing consumer demand, continuous FPI selling, geopolitical tensions and penal US trade tariffs, the tide is turning.

Income tax reduction, GST reforms and the upcoming pay commission (for government employees) are likely to spur demand. After facing off on trade tariffs, India and the US are back at the negotiating table. Government spending on infrastructure is witnessing a revival and GDP growth has been healthy in the first quarter of FY25.

A rate cut by the US Federal Reserve with two more planned later in the year are other positives.

However, the market buoyancy has resulted in valuations slipping to uncomfortable levels in many pockets. Large-caps, however, still seem reasonably priced.

In this regard, a focused fund (with a large-cap bias) to gain from any rallies seems appropriate for investors with a moderate risk appetite.

ICICI Prudential Focused Equity Fund (ICICI Prudential Select Large Cap earlier) is a scheme suitable for investors with a perspective of 5-plus years.

It is a fund with a strong and consistent track record, and can be considered for the key part of an investor’s portfolio. Taking the SIP route with a long-term horizon would help in saving towards specific goals, apart from averaging costs and riding out market volatility.

Top-notch

ICICI Focused Equity fund has upped its performance record significantly over the past several years.

When point-to-point returns over the past one, three, five and 10-year periods are considered, the fund outperformed the Nifty 500 TRI by 2.5-7 percentage points.

Five-year rolling returns from September 2015 to September 2025 show ICICI Prudential Focused Equity’s consistent performance, with the fund beating the Nifty 500 TRI almost 68 per cent of the times. Furthermore, in 5-year rolling returns over the aforementioned 10-year period, the fund generated more than 12 per cent returns for a healthy 94 per cent of the times and in excess of 15 per cent for 56 per cent of the time.

A monthly SIP in the fund over the last 10 years would have delivered a return (XIRR) of 19.1 per cent. If an SIP had been done in the Nifty 500 TRI for the same period, the returns would have been 15.8 per cent.

Overall, the fund’s performance place it among the best in the category, while ranking high on consistency.

The fund has an upside capture ratio of 115.6.8, indicating that its NAV rises much more than the benchmark during rallies. It has a downside capture ratio of 82.2, suggesting that the scheme’s NAV falls much less than the benchmark during corrections. A score of 100 indicates that a fund performs in line with its benchmark. This inference is based on returns from September 2020 to September 2025. Other key risk measures such as Jensen’s alpha, Sortino ratio and Sharpe ratio are all healthy.

The aforementioned data pertain to the direct plan of ICICI Prudential Focused Equity.

Smart churning

Being a focused fund, the scheme generally maintains a portfolio of around 30 stocks, keeping with its mandate. But barring the top 2-3 stocks, exposure to individual firms is generally much lower than 5 per cent.

ICICI Prudential Focused Equity has a heavy large-cap bias. In the recent portfolio, over 86 per cent of the portfolio is made up of large-caps. In general, depending on market conditions, the proportion can go down to 75 per cent levels, as it did during periods when broader markets rallied steadily. In the rising markets during 2023 and 2024, it was not uncommon for the fund to have 15-17 per cent of its investments in mid-caps.

Overall, the large-cap bias lends considerable stability to the portfolio.

In terms of sector holdings, banks have always topped the charts across markets.

Other sector investments are driven largely by the value style with the odd element of growth as well. In 2021 and 2022, the fund upped stakes in IT as the post-Covid demand for digitisation was high. In 2023, as the IT sector started witnessing a slowdown, the fund increased exposure to the automobiles sector. Then it raised stakes in petroleum products as well. Insurance and retailing were other key holdings in 2024.

As IT stocks corrected sharply over the past one year and pharmaceuticals, too, underperformed in this period, ICICI Prudential Focused Equity once again increased exposure to these sectors this year as valuations turned reasonably attractive.

The fund also has reasonable allocations to the growing realty segment.

On the whole, the fund is able to smartly juggle sectors to ensure steady outperformance.

The scheme remains fully invested for most parts with cash and debt exposures generally being less than 3 per cent.

The fund can be a good addition to your portfolio from a long-term perspective.

Published on September 20, 2025

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Mutual Funds returns

by Hansraj Agrawal | Sep 20, 2025 | Share Market

EQUITY – VALUE FUNDS

Bandhan Value Fund

149.4

9841

1.8

0.7

-4.5

17.7

26.7

15.7

0.86

HYBRID – AGGRESSIVE HYBRID FUNDS

BOI AXA Mid & Small Cap Eq&Debt

38.6

1253

2.0

0.7

-0.5

19.0

22.9

–

0.64

EQUITY – LARGE CAP FUNDS

Canara Robeco Large Cap Fund

64.0

16281

1.7

0.5

1.0

15.6

18.1

14.1

0.64

HYBRID – EQUITY SAVINGS FUNDS

Edelweiss Equity Savings Fund

25.7

843

1.6

0.6

7.1

11.3

10.8

9.1

0.95

HYBRID – BALANCED ADVANTAGE FUNDS

HDFC Balanced Advantage Fund

524.3

101080

1.3

0.7

3.1

18.9

23.7

15.1

1.03

EQUITY – TAX SAVING (ELSS) FUNDS

HDFC ELSS Tax saver

1449.8

16525

1.7

1.1

3.9

22.2

25.2

14.4

0.97

EQUITY – FLEXI CAP FUNDS

HDFC Flexi Cap Fund

2051.5

81936

1.4

0.7

6.5

22.9

28.5

16.4

1.01

EQUITY – FOCUSED FUNDS

HDFC Focused Fund

237.4

22444

1.6

0.6

6.8

22.5

28.4

15.0

1.07

EQUITY – LARGE & MID CAP FUNDS

HDFC Large and Mid Cap Fund

347.2

26158

1.7

0.9

-0.4

20.7

25.8

15.0

0.82

EQUITY – MID CAP FUNDS

HDFC Mid Cap Fund

198.4

83105

1.4

0.7

3.6

25.6

28.9

18.3

0.93

HYBRID – BALANCED ADVANTAGE FUNDS

ICICI Prudential Balanced Advantage Fund

75.7

65711

1.4

0.9

6.8

13.5

14.6

11.3

1.09

EQUITY – DIVIDEND YIELD FUNDS

ICICI Prudential Dividend Yield Equity Fund

53.7

5779

1.8

0.6

1.4

24.3

28.5

16.1

1.06

HYBRID – AGGRESSIVE HYBRID FUNDS

ICICI Prudential Equity & Debt Fund

404.3

45168

1.6

1.0

5.4

20.0

25.4

16.1

1.10

EQUITY – FOCUSED FUNDS

ICICI Prudential Focused Equity Fund

94.8

12560

1.7

0.6

4.1

23.2

24.7

15.8

0.87

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

ICICI Prudential Infrastructure Fund

197.1

7645

1.9

1.1

-0.1

28.2

35.8

17.4

1.05

EQUITY – LARGE & MID CAP FUNDS

ICICI Prudential Large & Mid Cap Fund

1027.5

23698

1.7

0.8

2.7

21.7

26.8

16.5

0.94

EQUITY – LARGE CAP FUNDS

ICICI Prudential Large Cap Fund

112.5

71840

1.4

0.9

1.7

18.8

21.7

14.7

0.81

EQUITY – SECTOR – IT FUNDS

ICICI Prudential Technology Fund

203.1

14734

1.7

1.0

-4.2

16.8

20.2

17.1

0.57

EQUITY – VALUE FUNDS

ICICI Prudential Value Fund

479.1

53750

1.5

1.0

2.3

22.4

25.9

15.6

1.09

HYBRID – CONSERVATIVE HYBRID FUNDS

Kotak Debt Hybrid Fund

58.7

3065

1.7

0.5

3.1

10.1

10.7

9.5

0.95

EQUITY – MID CAP FUNDS

Motilal Oswal Midcap Fund

105.8

34780

1.6

0.7

0.1

26.5

33.1

18.1

0.86

EQUITY – SECTOR – BANKING FUNDS

Nippon India Banking & Financial Services Fund

627.3

6990

1.9

1.0

4.9

16.6

25.7

13.8

0.70

EQUITY – THEMATIC – CONSUMPTION FUNDS

Nippon India Consumption Fund

208.0

2756

1.9

0.5

-4.3

16.5

23.3

15.1

0.76

EQUITY – MID CAP FUNDS

Nippon India Growth Mid Cap Fund

4241.5

38386

1.6

0.7

1.1

24.5

28.9

18.2

0.85

EQUITY – LARGE CAP FUNDS

Nippon India Large Cap Fund

93.4

45012

1.5

0.7

3.6

20.0

24.7

14.9

0.83

EQUITY – SMALL CAP FUNDS

Nippon India Small Cap Fund

172.5

64821

1.4

0.6

-4.2

23.4

31.7

21.6

0.82

EQUITY – FLEXI CAP FUNDS

Parag Parikh Flexi Cap Fund

86.5

115040

1.3

0.6

7.1

21.3

22.5

18.1

0.88

HYBRID – AGGRESSIVE HYBRID FUNDS

Quant Aggressive Hybrid Fund

429.6

2058

2.0

0.8

-2.3

11.0

21.5

16.0

0.77

EQUITY – TAX SAVING (ELSS) FUNDS

Quant ELSS Tax Saver Fund

373.5

11396

1.7

0.6

-8.4

14.0

26.0

20.9

0.69

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Quant Infrastructure Fund

38.5

3140

1.9

0.7

-8.5

17.1

33.2

19.7

0.79

EQUITY – SMALL CAP FUNDS

Quant Small Cap Fund

260.9

28758

1.6

0.7

-6.7

24.1

33.7

19.7

0.79

HYBRID – CONSERVATIVE HYBRID FUNDS

SBI Conservative Hybrid Fund

73.3

9787

1.6

1.1

4.7

10.0

11.1

9.0

1.15

EQUITY – TAX SAVING (ELSS) FUNDS

SBI ELSS Tax Saver Fund

443.2

29937

1.6

1.0

-0.9

24.2

25.0

14.8

0.88

HYBRID – EQUITY SAVINGS FUNDS

Sundaram Equity Savings Fund

71.1

1140

2.2

0.6

4.3

11.1

12.9

9.6

0.90

EQUITY – FOCUSED FUNDS

360 ONE Focused Fund

47.4

7265

1.8

0.8

-3.7

16.4

20.4

16.3

0.66

HYBRID – BALANCED ADVANTAGE FUNDS

Aditya Birla SL Bal Advantage

107.8

8208

1.8

0.7

4.5

12.9

13.9

11.3

0.80

EQUITY – LARGE CAP FUNDS

Aditya Birla Sun Life Large Cap Fund

535.6

29867

1.6

1.0

-0.2

15.7

19.5

12.9

0.68

EQUITY – SMALL CAP FUNDS

AXIS Small Cap Fund

108.7

25569

1.6

0.6

0.1

19.4

26.0

19.0

0.80

EQUITY – TAX SAVING (ELSS) FUNDS

Bandhan ELSS Tax Saver Fund

154.8

6899

1.8

0.7

-2.7

15.9

22.9

15.0

0.75

EQUITY – LARGE & MID CAP FUNDS

Bandhan Large & Mid Cap Fund

137.2

10231

1.7

0.6

0.1

24.2

25.3

16.4

0.82

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

BOI AXA Manufacturing & Infra

58.2

598

2.3

0.6

-0.7

24.5

27.8

17.3

0.75

EQUITY – THEMATIC – CONSUMPTION FUNDS

Canara Robeco Consumer Trends Fund

112.6

1913

2.1

0.8

-4.1

16.0

21.2

16.2

0.68

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Canara Robeco Infrastructure Fund

164.6

889

2.3

1.0

-0.1

24.4

31.5

16.4

0.86

EQUITY – TAX SAVING (ELSS) FUNDS

DSP ELSS Tax Saver Fund

140.4

16475

1.6

0.7

-1.1

19.5

23.1

16.1

0.78

EQUITY – SMALL CAP FUNDS

DSP Small Cap Fund

200.0

16628

1.7

0.8

-0.9

20.0

26.5

17.3

0.70

HYBRID – AGGRESSIVE HYBRID FUNDS

Edelweiss Aggressive Hybrid Fund

64.6

3045

1.9

0.4

2.7

17.6

19.8

12.8

0.87

HYBRID – BALANCED ADVANTAGE FUNDS

Edelweiss Balanced Advantage Fund

51.4

12725

1.7

0.5

0.8

12.3

13.8

10.8

0.71

EQUITY – MID CAP FUNDS

Edelweiss Mid Cap Fund

103.0

11297

1.7

0.4

2.5

24.4

28.8

18.4

0.82

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Franklin Build India Fund

143.6

2884

2.0

1.0

-1.1

27.2

32.9

17.6

0.91

EQUITY – DIVIDEND YIELD FUNDS

Franklin India Dividend Yield Fund

138.5

2317

2.1

1.2

-5.0

18.2

24.2

15.6

1.01

EQUITY – TAX SAVING (ELSS) FUNDS

Franklin India ELSS Tax Saver Fund

1491.4

6537

1.8

1.0

-2.1

18.9

23.7

13.5

0.75

EQUITY – FLEXI CAP FUNDS

Franklin India Flexi Cap Fund

1653.3

18727

1.7

0.9

-1.4

18.8

24.2

14.2

0.78

EQUITY – FOCUSED FUNDS

Franklin India Focused Equity Fund

110.5

12263

1.8

1.0

-1.8

16.7

24.5

14.3

0.74

HYBRID – CONSERVATIVE HYBRID FUNDS

HDFC Hybrid Debt Fund

82.2

3342

1.7

1.2

3.6

10.2

11.2

8.9

1.07

EQUITY – LARGE CAP FUNDS

HDFC Large Cap Fund

1155.2

37659

1.6

1.0

-2.6

16.7

21.3

13.5

0.74

EQUITY – VALUE FUNDS

HSBC Value Fund

111.5

13532

1.7

0.8

0.5

23.7

25.6

16.4

0.78

HYBRID – CONSERVATIVE HYBRID FUNDS

ICICI Prudential Regular Savings Fund

77.0

3235

1.7

1.0

6.9

10.2

10.1

9.5

1.19

EQUITY – SECTOR – BANKING FUNDS

Invesco India Financial Services Fund

137.1

1392

2.1

0.8

4.7

19.2

22.5

15.3

0.59

HYBRID – AGGRESSIVE HYBRID FUNDS

JM Aggressive Hybrid Fund

122.7

804

2.3

0.7

-4.7

20.7

21.6

12.7

0.77

EQUITY – FLEXI CAP FUNDS

JM Flexicap Fund

100.1

5943

1.8

0.6

-6.5

22.7

26.2

17.0

0.76

HYBRID – AGGRESSIVE HYBRID FUNDS

Kotak Aggressive Hybrid Fund

64.0

7853

1.8

0.5

3.3

15.7

19.3

13.4

0.81

HYBRID – EQUITY SAVINGS FUNDS

Kotak Equity Savings Fund

26.8

8487

1.8

0.7

5.0

11.9

11.6

9.5

0.97

EQUITY – LARGE CAP FUNDS

Kotak Large Cap Fund

582.5

10235

1.7

0.6

15.6

18.8

13.1

0.65

EQUITY – TAX SAVING (ELSS) FUNDS

Mirae Asset ELSS Tax Saver Fund

50.0

25562

1.6

0.6

1.8

17.3

20.9

–

0.70

EQUITY – TAX SAVING (ELSS) FUNDS

Motilal Oswal ELSS Tax Saver Fund

53.3

4223

1.8

0.7

-1.2

25.6

26.2

17.2

0.60

HYBRID – BALANCED ADVANTAGE FUNDS

Nippon India Balanced Advantage Fund

180.2

9317

1.7

0.6

3.2

12.6

13.7

10.5

0.82

EQUITY – FOCUSED FUNDS

Nippon India Focused Fund

123.5

8420

1.8

1.1

-0.4

14.6

22.1

14.3

0.70

EQUITY – VALUE FUNDS

Nippon India Value Fund

229.0

8584

1.8

1.1

-1.8

21.7

25.6

15.9

0.79

EQUITY – LARGE & MID CAP FUNDS

Nippon India Vision Large & Mid Cap Fund

1505.4

6177

1.9

1.3

2.1

21.2

24.1

13.5

0.78

EQUITY – FLEXI CAP FUNDS

PGIM India Flexi Cap Fund

37.3

6215

1.8

0.4

0.6

13.3

18.6

14.0

0.59

EQUITY – MID CAP FUNDS

PGIM India Midcap Fund

67.0

11400

1.7

0.5

1.4

14.0

24.1

15.9

0.73

EQUITY – MID CAP FUNDS

Quant Mid Cap Fund

212.4

8319

1.8

0.7

-12.1

16.1

27.1

17.0

0.75

EQUITY – TAX SAVING (ELSS) FUNDS

Quantum ELSS Tax Saver Fund

126.1

220

2.1

0.9

-1.3

17.6

20.5

13.3

0.82

EQUITY – THEMATIC – CONSUMPTION FUNDS

SBI Consumption Opportunities Fund

318.3

3175

2.0

0.9

-9.0

15.9

24.3

16.0

0.79

HYBRID – EQUITY SAVINGS FUNDS

SBI Equity Savings Fund

24.2

5703

1.6

1.0

4.6

11.0

11.8

9.2

0.77

EQUITY – LARGE & MID CAP FUNDS

SBI Large & Midcap Fund

632.8

33248

1.6

0.8

2.4

17.3

23.5

15.2

0.84

EQUITY – LARGE CAP FUNDS

SBI Large Cap Fund

94.0

52421

1.5

0.8

14.6

19.0

12.9

0.68

EQUITY – MID CAP FUNDS

SBI Midcap Fund

232.7

22012

1.7

0.9

-5.9

15.3

24.9

14.8

0.82

EQUITY – SECTOR – IT FUNDS

SBI Technology Opportunities Fund

222.1

4761

1.9

0.9

2.1

20.1

22.2

17.1

0.66

EQUITY – SECTOR – BANKING FUNDS

Sundaram Financial Services Opportunities

101.5

1460

2.1

0.8

-0.7

16.8

22.7

14.0

0.63

EQUITY – FLEXI CAP FUNDS

Union Flexi Cap Fund

52.2

2321

2.0

0.9

0.4

15.8

19.6

13.2

0.63

HYBRID – AGGRESSIVE HYBRID FUNDS

UTI Aggressive Hybrid Fund

406.3

6302

1.9

1.2

0.0

16.3

19.7

12.4

0.86

EQUITY – LARGE & MID CAP FUNDS

UTI Large & Mid Cap Fund

181.0

4861

1.9

1.0

-1.2

21.1

24.9

14.2

0.83

EQUITY – SECTOR – BANKING FUNDS

Aditya Birla SL Bank & Fin Serv

60.9

3374

2.0

1.1

3.2

14.5

21.6

14.2

0.56

EQUITY – THEMATIC – CONSUMPTION FUNDS

Aditya Birla Sun Life Consumption Fund

224.2

6324

1.8

0.8

-2.7

15.4

20.9

15.5

0.66

EQUITY – SECTOR – IT FUNDS

Aditya Birla Sun Life Digital India Fund

174.8

4617

1.9

0.9

-6.1

16.5

19.7

17.4

0.52

EQUITY – FLEXI CAP FUNDS

Aditya Birla Sun Life Flexi Cap Fund

1827.4

22962

1.7

0.9

1.3

17.8

20.1

14.4

0.65

EQUITY – FOCUSED FUNDS

Aditya Birla Sun Life Focused Fund

143.0

7620

1.8

0.9

-1.0

16.0

18.9

12.9

0.65

HYBRID – CONSERVATIVE HYBRID FUNDS

Aditya Birla Sun Life Regular Savings Fund

67.7

1531

1.8

0.9

6.8

9.1

10.9

8.6

1.09

HYBRID – BALANCED ADVANTAGE FUNDS

Axis Balanced Advantage Fund

21.2

3489

1.9

0.7

2.6

13.8

13.3

–

0.75

HYBRID – AGGRESSIVE HYBRID FUNDS

Bandhan Aggressive Hybrid Fund

26.6

1139

2.2

0.9

5.0

15.8

17.8

–

0.68

EQUITY – FOCUSED FUNDS

Bandhan Focused Fund

88.5

1919

2.1

0.8

0.9

18.4

17.1

13.1

0.53

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Bandhan Infrastructure Fund

50.8

1613

2.1

0.9

-7.0

26.3

32.8

16.1

0.77

EQUITY – LARGE CAP FUNDS

Bandhan Large Cap Fund

78.6

1893

2.0

0.9

-0.7

16.5

17.9

13.1

0.59

HYBRID – AGGRESSIVE HYBRID FUNDS

Baroda BNPP Aggressive Hybrid Fund

28.1

1223

2.1

0.5

-0.4

14.4

16.5

–

0.64

EQUITY – LARGE CAP FUNDS

Baroda BNPP Large Cap Fund

222.3

2646

2.0

0.8

-3.6

16.2

18.5

12.8

0.63

EQUITY – MID CAP FUNDS

Baroda BNPP Mid Cap Fund

102.5

2157

2.0

0.6

-2.5

19.3

24.0

15.2

0.72

EQUITY – TAX SAVING (ELSS) FUNDS

BOI ELSS Tax Saver

162.5

1355

2.0

0.7

-4.6

17.2

21.2

15.7

0.57

HYBRID – CONSERVATIVE HYBRID FUNDS

Canara Robeco Conservative Hybrid Fund

97.9

942

1.8

0.7

4.9

8.5

8.0

0.75

EQUITY – TAX SAVING (ELSS) FUNDS

Canara Robeco ELSS Tax Saver

178.8

8742

1.7

0.6

-1.4

14.9

19.5

14.8

0.67

HYBRID – AGGRESSIVE HYBRID FUNDS

Canara Robeco Equity Hybrid Fund

366.0

10946

1.7

0.6

1.7

13.8

15.8

12.7

0.66

EQUITY – FLEXI CAP FUNDS

Canara Robeco Flexi Cap Fund

350.3

13301

1.7

0.5

2.0

15.9

18.9

14.3

0.64

EQUITY – LARGE & MID CAP FUNDS

Canara Robeco Large and Mid Cap Fund

264.8

25511

1.6

0.6

1.7

17.1

21.0

16.2

0.66

HYBRID – AGGRESSIVE HYBRID FUNDS

DSP Aggressive Hybrid Fund

361.4

11333

1.7

0.7

2.8

15.9

17.1

13.0

0.68

HYBRID – BALANCED ADVANTAGE FUNDS

DSP Dynamic Asset Allocation Fund

27.9

3489

1.9

0.7

4.9

11.4

10.8

9.1

0.66

HYBRID – EQUITY SAVINGS FUNDS

DSP Equity Savings Fund

22.0

3591

1.3

0.4

4.4

10.1

10.8

–

0.98

EQUITY – FLEXI CAP FUNDS

DSP Flexi Cap Fund

104.7

11679

1.7

0.7

-1.4

17.4

20.3

14.7

0.61

EQUITY – FOCUSED FUNDS

DSP Focused Fund

55.4

2513

2.0

0.9

-0.5

17.8

18.6

12.4

0.61

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

DSP India T.I.G.E.R. Fund

318.5

5303

1.9

0.7

-6.3

25.8

32.7

16.8

0.85

EQUITY – LARGE & MID CAP FUNDS

DSP Large & Mid Cap Fund

624.2

15356

1.7

0.6

-1.2

20.0

22.5

15.7

0.74

EQUITY – LARGE CAP FUNDS

DSP Large Cap Fund

478.4

6398

1.8

0.9

1.0

17.9

18.8

12.1

0.69

HYBRID – CONSERVATIVE HYBRID FUNDS

DSP Regular Savings Fund

59.1

177

1.2

0.5

5.7

10.1

9.1

7.3

0.86

EQUITY – FLEXI CAP FUNDS

Edelweiss Flexi Cap Fund

38.8

2777

1.9

0.4

-2.2

18.5

21.6

14.8

0.68

EQUITY – LARGE & MID CAP FUNDS

Edelweiss Large & Mid Cap Fund

88.0

4042

1.9

0.4

-1.1

17.6

21.6

14.7

0.68

EQUITY – LARGE CAP FUNDS

Edelweiss Large Cap Fund

85.1

1287

2.1

0.6

-2.4

15.7

18.2

13.1

0.63

HYBRID – AGGRESSIVE HYBRID FUNDS

Franklin India Aggressive Hybrid Fund

272.8

2245

2.1

0.9

1.5

14.9

17.8

11.7

0.76

HYBRID – CONSERVATIVE HYBRID FUNDS

Franklin India Conservative Hybrid Fund

91.4

202

1.4

0.7

5.4

9.6

9.0

7.6

0.82

EQUITY – LARGE CAP FUNDS

Franklin India Large Cap Fund

1044.7

7690

1.8

1.1

0.1

14.9

19.3

11.6

0.64

HYBRID – EQUITY SAVINGS FUNDS

HDFC Equity Savings Fund

66.7

5691

1.9

0.9

3.8

10.3

12.4

9.9

0.92

HYBRID – AGGRESSIVE HYBRID FUNDS

HDFC Hybrid Equity Fund

119.5

23996

1.7

1.0

1.9

12.7

17.6

11.0

0.78

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

HDFC Infrastructure Fund

48.2

2483

2.1

1.1

-2.0

27.7

33.4

12.2

0.88

EQUITY – SMALL CAP FUNDS

HDFC Small Cap Fund

145.7

36294

1.6

0.7

3.0

23.6

29.9

19.2

0.81

EQUITY – VALUE FUNDS

HDFC Value Fund

752.4

7179

1.8

1.0

-0.3

19.4

22.5

14.4

0.74

HYBRID – CONSERVATIVE HYBRID FUNDS

HSBC Conservative Hybrid Fund

62.5

157

2.2

1.2

6.4

10.7

9.4

7.8

0.61

HYBRID – EQUITY SAVINGS FUNDS

HSBC Equity Savings Fund

34.6

671

1.5

0.7

6.5

13.9

13.7

9.2

0.67

EQUITY – FLEXI CAP FUNDS

HSBC Flexi Cap Fund

224.1

4975

1.9

1.2

-0.1

20.2

21.4

13.7

0.61

EQUITY – SMALL CAP FUNDS

HSBC Small Cap Fund

83.1

15886

1.7

0.7

-6.2

20.3

29.6

19.1

0.70

EQUITY – SECTOR – BANKING FUNDS

ICICI Prudential Banking & Financial Services

134.0

9688

1.8

1.0

5.0

15.0

21.4

14.0

0.61

EQUITY – TAX SAVING (ELSS) FUNDS

ICICI Pru Long Term Equity

959.7

14346

1.7

1.1

0.5

17.2

21.2

13.7

0.72

HYBRID – EQUITY SAVINGS FUNDS

ICICI Prudential Equity Savings Fund

22.9

15863

1.0

0.5

6.7

9.1

9.5

8.4

1.18

EQUITY – MID CAP FUNDS

ICICI Prudential Midcap Fund

303.7

6492

1.9

1.1

2.4

21.6

26.1

15.8

0.77

EQUITY – SMALL CAP FUNDS

ICICI Prudential Smallcap Fund

89.9

8441

1.8

0.7

-1.7

18.4

27.3

16.3

0.88

HYBRID – BALANCED ADVANTAGE FUNDS

Invesco India Balanced Advantage Fund

54.6

1045

2.1

0.8

2.2

13.1

13.0

9.7

0.60

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Invesco India Infrastructure Fund

65.1

1524

2.1

0.8

-2.9

25.4

29.7

17.5

0.74

EQUITY – LARGE & MID CAP FUNDS

Invesco India Large & Mid Cap Fund

103.7

8125

1.8

0.6

6.8

25.4

23.9

16.3

0.70

EQUITY – LARGE CAP FUNDS

Invesco India Largecap Fund

71.1

1555

2.0

0.7

17.3

19.2

13.3

0.61

EQUITY – MID CAP FUNDS

Invesco India Midcap Fund

184.9

8062

1.8

0.6

8.7

27.9

27.6

18.6

0.77

EQUITY – TAX SAVING (ELSS) FUNDS

JM ELSS Tax Saver Fund

49.6

210

2.4

1.1

-4.4

20.1

23.1

16.0

0.70

EQUITY – VALUE FUNDS

JM Value Fund

99.6

1019

2.2

1.0

-8.3

24.4

26.4

17.0

0.75

EQUITY – TAX SAVING (ELSS) FUNDS

Kotak ELSS Tax Saver Fund

117.2

6201

1.8

0.6

-2.8

16.1

20.6

14.4

0.67

EQUITY – FLEXI CAP FUNDS

Kotak Flexicap Fund

86.0

53626

1.4

0.6

2.9

16.8

19.4

14.2

0.63

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Kotak Infra & Economic Reform

66.6

2313

2.0

0.7

-6.0

21.7

30.1

15.6

0.78

EQUITY – LARGE & MID CAP FUNDS

Kotak Large & Midcap Fund

347.9

27655

1.6

0.5

0.7

19.0

22.2

15.6

0.73

EQUITY – MID CAP FUNDS

Kotak Midcap Fund

140.4

56988

1.4

0.4

4.7

22.0

27.3

18.4

0.81

EQUITY – SMALL CAP FUNDS

Kotak Small Cap Fund

265.5

17508

1.6

0.5

-6.2

16.5

26.5

17.7

0.74

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

LIC MF Infrastructure Fund

50.7

995

2.2

0.8

1.2

28.4

31.8

16.2

0.79

EQUITY – TAX SAVING (ELSS) FUNDS

Mahindra Manulife ELSS Tax Saver Fund

29.1

941

2.2

0.6

-0.5

15.2

20.6

–

0.68

HYBRID – EQUITY SAVINGS FUNDS

Mahi Manu Eq Sav Dhan San Yojana

20.8

547

2.4

0.7

3.8

9.5

11.5

–

0.69

EQUITY – MID CAP FUNDS

Mahindra Manulife Mid Cap Fund

33.5

3905

1.9

0.5

-3.3

23.0

26.9

–

0.75

HYBRID – AGGRESSIVE HYBRID FUNDS

Mirae Asset Aggressive Hybrid Fund

32.7

9012

1.7

0.4

1.9

13.6

16.0

12.9

0.66

EQUITY – THEMATIC – CONSUMPTION FUNDS

Mirae Asset Great Consumer Fund

98.4

4552

1.8

0.4

-3.0

18.2

22.1

16.5

0.68

EQUITY – LARGE & MID CAP FUNDS

Mirae Asset Large & Midcap Fund

153.8

40020

1.5

0.6

16.8

21.0

17.7

0.66

EQUITY – LARGE CAP FUNDS

Mirae Asset Large Cap Fund

115.1

39477

1.5

0.6

0.7

13.4

16.9

13.7

0.59

EQUITY – FLEXI CAP FUNDS

Motilal Oswal Flexi Cap Fund

63.9

13679

1.7

0.9

3.6

22.4

20.0

14.0

0.55

HYBRID – AGGRESSIVE HYBRID FUNDS

Nippon India Aggressive Hybrid Fund

106.7

3894

2.0

1.1

1.8

15.9

19.2

10.4

0.80

EQUITY – TAX SAVING (ELSS) FUNDS

Nippon India ELSS Tax Saver Fund

130.7

14934

1.7

1.0

-1.7

17.8

23.2

11.7

0.73

EQUITY – TAX SAVING (ELSS) FUNDS

PGIM India ELSS Tax Saver Fund

35.5

763

2.3

0.7

0.5

14.0

20.0

–

0.67

EQUITY – FOCUSED FUNDS

Quant Focused Fund

85.9

977

2.2

0.8

-9.6

13.3

20.6

14.2

0.61

EQUITY – LARGE & MID CAP FUNDS

Quant Large & Mid Cap Fund

115.0

3488

1.9

0.7

-10.6

16.1

22.8

16.7

0.64

EQUITY – SECTOR – BANKING FUNDS

SBI Banking & Financial Services Fund

43.0

8371

1.8

0.8

10.4

17.9

22.4

16.6

0.60

HYBRID – AGGRESSIVE HYBRID FUNDS

SBI Equity Hybrid Fund

305.1

77256

1.4

0.7

6.7

13.8

16.5

12.4

0.74

EQUITY – FOCUSED FUNDS

SBI Focused Fund

362.5

37764

1.6

0.8

6.0

15.5

19.7

14.9

0.65

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

SBI Infrastructure Fund

49.1

4836

1.9

1.0

-9.5

21.7

26.7

16.3

0.81

HYBRID – AGGRESSIVE HYBRID FUNDS

Sundaram Aggressive Hybrid Fund

162.7

6680

1.8

0.7

0.1

12.5

16.2

12.7

0.68

EQUITY – TAX SAVING (ELSS) FUNDS

Sundaram ELSS Tax Saver Fund

520.6

1362

2.2

1.7

1.3

15.0

20.6

14.4

0.69

EQUITY – FOCUSED FUNDS

Sundaram Focused Fund

162.4

1076

2.3

1.3

-3.8

13.5

19.0

13.5

0.58

EQUITY – MID CAP FUNDS

Sundaram Mid Cap Fund

1417.4

12501

1.8

0.9

0.7

23.0

26.2

15.4

0.76

EQUITY – SMALL CAP FUNDS

Sundaram Small Cap Fund

264.7

3282

2.0

0.9

-1.6

20.8

27.1

14.7

0.71

EQUITY – SECTOR – BANKING FUNDS

Tata Banking and Financial Services Fund

42.7

2819

1.9

0.5

5.2

16.3

20.8

–

0.57

HYBRID – EQUITY SAVINGS FUNDS

Tata Equity Savings Fund

55.6

266

1.1

0.5

5.5

9.9

10.0

7.6

0.91

EQUITY – THEMATIC – CONSUMPTION FUNDS

Tata India Consumer Fund

46.7

2518

2.0

0.7

-2.7

18.6

20.7

–

0.60

EQUITY – LARGE & MID CAP FUNDS

Tata Large & Mid Cap Fund

526.1

8501

1.8

0.6

-4.9

14.2

19.6

13.6

0.69

EQUITY – LARGE CAP FUNDS

Tata Large Cap Fund

512.3

2615

2.0

1.0

-0.5

15.3

19.5

12.3

0.67

EQUITY – MID CAP FUNDS

Tata Mid Cap Fund

439.3

4946

1.9

0.6

-2.6

20.7

24.0

15.7

0.74

EQUITY – VALUE FUNDS

Templeton India Value Fund

720.2

2209

2.1

0.9

-4.4

17.6

26.7

14.6

0.89

HYBRID – BALANCED ADVANTAGE FUNDS

Union Balanced Advantage Fund

20.5

1351

2.2

1.0

2.8

10.5

11.0

–

0.64

EQUITY – TAX SAVING (ELSS) FUNDS

Union ELSS Tax Saver Fund

66.8

895

2.3

1.4

0.2

16.0

20.5

12.9

0.67

EQUITY – SMALL CAP FUNDS

Union Small Cap Fund

50.9

1658

2.1

0.9

-0.2

17.9

25.2

15.6

0.63

HYBRID – CONSERVATIVE HYBRID FUNDS

UTI Conservative Hybrid Fund

69.8

1686

1.8

1.2

4.4

9.8

10.8

8.3

0.99

EQUITY – DIVIDEND YIELD FUNDS

UTI Dividend Yield Fund

179.7

3794

2.0

1.5

-3.0

20.9

21.5

14.5

0.75

EQUITY – LARGE CAP FUNDS

UTI Large Cap Fund

279.2

12948

1.8

0.9

-1.7

12.9

17.3

12.2

0.58

EQUITY – MID CAP FUNDS

UTI Mid Cap Fund

307.5

11668

1.8

0.9

-3.9

16.8

22.4

14.4

0.64

EQUITY – VALUE FUNDS

UTI Value Fund

172.1

9672

1.8

1.2

-0.6

18.7

21.9

14.0

0.76

HYBRID – BALANCED ADVANTAGE FUNDS

UTI-Unit Linked Insurance Plan

42.5

5329

1.6

1.0

4.4

9.2

10.4

8.1

0.62

EQUITY – DIVIDEND YIELD FUNDS

Aditya Birla Sun Life Dividend Yield Fund

446.7

1432

2.2

1.4

-7.3

20.5

21.9

12.5

0.70

HYBRID – AGGRESSIVE HYBRID FUNDS

Aditya Birla Sun Life Equity Hybrid ’95 Fund

1547.7

7372

1.9

1.1

13.5

16.2

10.8

0.63

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Aditya Birla Sun Life Infrastructure Fund

97.0

1120

2.3

1.4

-3.2

23.8

29.2

14.4

0.72

EQUITY – MID CAP FUNDS

Aditya Birla Sun Life Midcap Fund

801.8

5970

1.9

1.0

-2.8

19.0

24.1

14.1

0.71

HYBRID – CONSERVATIVE HYBRID FUNDS

Axis Conservative Hybrid Fund

30.1

276

2.2

1.0

4.0

7.1

7.8

6.8

0.56

HYBRID – EQUITY SAVINGS FUNDS

Axis Equity Savings Fund

22.4

939

2.3

1.1

3.1

9.9

10.7

8.5

0.66

EQUITY – FLEXI CAP FUNDS

Axis Flexi Cap Fund

27.4

12796

1.7

0.7

14.3

17.2

–

0.49

EQUITY – MID CAP FUNDS

Axis Midcap Fund

116.0

31056

1.6

0.6

18.8

22.1

16.4

0.65

HYBRID – BALANCED ADVANTAGE FUNDS

Bandhan Balanced Advantage Fund

24.6

2268

2.0

0.8

3.6

10.7

10.6

8.8

0.48

HYBRID – EQUITY SAVINGS FUNDS

Bandhan Equity Savings Fund

31.5

333

1.1

0.2

5.1

7.7

8.0

6.6

0.80

EQUITY – FLEXI CAP FUNDS

Bandhan Flexi Cap Fund

212.7

7365

1.9

1.1

-0.5

15.2

18.9

11.7

0.62

EQUITY – SECTOR – BANKING FUNDS

Baroda BNP Paribas Bank&Fin Serv

47.8

295

2.4

0.8

4.8

15.3

20.1

12.2

0.53

EQUITY – TAX SAVING (ELSS) FUNDS

Baroda BNPP ELSS Tax Saver Fund

96.4

897

2.2

1.0

-1.0

18.4

18.6

12.6

0.57

EQUITY – FOCUSED FUNDS

Baroda BNPP Focused Fund

21.8

669

2.3

0.5

-6.2

13.0

17.3

–

0.47

EQUITY – LARGE & MID CAP FUNDS

BOI Large & Mid Cap Equity Fund

88.4

408

2.3

0.8

-3.1

16.0

19.9

12.6

0.61

EQUITY – TAX SAVING (ELSS) FUNDS

Edelweiss Long Term Equity

111.6

411

2.3

0.7

-2.1

15.9

19.1

12.2

0.60

EQUITY – LARGE & MID CAP FUNDS

Franklin India Large & Mid Cap Fund

195.7

3558

2.0

1.3

0.7

17.0

21.8

12.3

0.69

EQUITY – MID CAP FUNDS

Franklin India Mid Cap Fund

2790.3

12251

1.8

1.0

-0.3

21.9

24.3

15.7

0.70

EQUITY – SMALL CAP FUNDS

Franklin India Small Cap Fund

172.4

13302

1.7

0.9

-6.8

22.5

28.4

16.3

0.74

HYBRID – BALANCED ADVANTAGE FUNDS

HSBC Balanced Advantage Fund

43.9

1554

2.1

0.9

2.8

12.0

10.1

8.2

0.55

EQUITY – TAX SAVING (ELSS) FUNDS

HSBC ELSS Tax saver Fund

138.1

4021

1.9

1.2

20.1

20.8

14.0

0.59

EQUITY – LARGE CAP FUNDS

HSBC Large Cap Fund

482.0

1829

2.1

1.3

-2.4

14.7

17.8

12.7

0.55

EQUITY – MID CAP FUNDS

HSBC Midcap Fund

403.0

11749

1.7

0.7

0.5

24.5

23.5

16.6

0.61

HYBRID – AGGRESSIVE HYBRID FUNDS

Invesco India Aggressive Hybrid Fund

22.9

769

2.3

0.7

0.4

16.5

16.0

–

0.60

EQUITY – TAX SAVING (ELSS) FUNDS

Invesco India ELSS Tax Saver Fund

129.4

2787

1.9

0.8

-1.1

18.1

19.0

14.0

0.55

EQUITY – FOCUSED FUNDS

JM Focused Fund

20.2

283

2.4

0.7

-3.2

19.3

20.7

13.9

0.57

EQUITY – LARGE CAP FUNDS

JM Large Cap Fund

156.1

490

2.4

0.8

-5.5

15.7

17.1

11.4

0.56

EQUITY – TAX SAVING (ELSS) FUNDS

LIC MF ELSS Tax Saver

155.7

1082

2.2

1.0

-0.8

15.5

18.6

12.5

0.62

EQUITY – FOCUSED FUNDS

LIC MF Focused Fund

22.0

167

2.5

1.6

-3.5

12.7

16.9

–

0.51

EQUITY – LARGE & MID CAP FUNDS

LIC MF Large & Midcap Fund

39.2

3013

1.9

0.6

-1.7

16.3

20.2

15.1

0.64

EQUITY – LARGE CAP FUNDS

LIC MF Large Cap Fund

56.8

1445

2.2

1.0

-1.0

12.2

16.0

10.9

0.50

HYBRID – AGGRESSIVE HYBRID FUNDS

Navi Aggressive Hybrid Fund

21.1

122

2.3

0.6

1.7

13.4

14.6

–

0.61

HYBRID – CONSERVATIVE HYBRID FUNDS

Nippon India Conservative Hybrid Fund

58.7

894

1.9

1.1

7.8

8.9

9.0

5.7

1.25

EQUITY – VALUE FUNDS

Quantum Value Fund

127.0

1180

2.1

1.1

-1.3

17.8

20.5

13.2

0.80

EQUITY – FLEXI CAP FUNDS

SBI Flexicap Fund

110.3

22011

1.7

0.9

-2.2

12.9

18.2

13.1

0.62

EQUITY – SMALL CAP FUNDS

SBI Small Cap Fund

175.7

35245

1.6

0.7

-5.5

15.2

23.8

19.0

0.73

HYBRID – BALANCED ADVANTAGE FUNDS

Sundaram Balanced Advantage Fund

35.5

1658

2.1

0.6

1.2

10.4

7.9

0.51

EQUITY – THEMATIC – CONSUMPTION FUNDS

Sundaram Consumption Fund

101.4

1599

2.2

1.3

-2.5

16.6

19.6

14.8

0.63

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Sundaram Infrastructure Advantage Fund

96.5

935

2.4

1.9

-0.7

21.6

26.9

14.6

0.74

EQUITY – LARGE & MID CAP FUNDS

Sundaram Large and Mid Cap Fund

87.0

6651

1.8

0.8

-0.8

15.7

20.3

14.6

0.62

HYBRID – AGGRESSIVE HYBRID FUNDS

Tata Aggressive Hybrid Fund

441.5

4011

1.9

1.0

-1.5

11.8

16.1

10.1

0.67

EQUITY – SECTOR – IT FUNDS

Tata Digital India Fund

48.1

11520

1.7

0.4

-8.0

16.9

20.4

–

0.54

EQUITY – TAX SAVING (ELSS) FUNDS

Tata ELSS Fund

44.9

4472

1.8

0.7

-2.5

15.5

19.8

14.3

0.64

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Tata Infrastructure Fund

174.0

2138

2.1

1.2

-11.2

19.0

28.7

15.4

0.73

EQUITY – VALUE FUNDS

Tata Value Fund

351.0

8348

1.8

0.8

-6.2

18.8

21.1

15.4

0.70

EQUITY – LARGE CAP FUNDS

Union Largecap Fund

24.0

447

2.5

1.6

-1.1

13.4

17.2

–

0.56

EQUITY – SECTOR – BANKING FUNDS

UTI Banking and Financial Services Fund

189.3

1255

2.2

1.1

6.1

15.0

21.8

11.6

0.58

EQUITY – FLEXI CAP FUNDS

UTI Flexi Cap Fund

334.2

25509

1.7

1.0

-0.1

11.4

16.1

12.7

0.46

EQUITY – THEMATIC – CONSUMPTION FUNDS

UTI India Consumer Fund

60.6

717

2.4

1.6

-5.1

14.1

17.9

12.1

0.52

EQUITY – TAX SAVING (ELSS) FUNDS

Aditya Birla Sun Life ELSS Tax Saver Fund

62.0

15216

1.7

1.0

0.7

14.5

13.9

11.3

0.44

HYBRID – EQUITY SAVINGS FUNDS

Aditya Birla Sun Life Equity Savings Fund

22.3

857

1.1

0.6

6.9

8.9

9.4

7.9

0.53

EQUITY – LARGE & MID CAP FUNDS

Aditya Birla Sun Life Large & Mid Cap Fund

917.1

5636

1.9

1.2

-2.3

14.3

17.2

12.2

0.46

EQUITY – SMALL CAP FUNDS

Aditya Birla Sun Life Small Cap Fund

86.8

4824

1.9

0.9

-5.0

17.6

23.0

13.6

0.58

EQUITY – VALUE FUNDS

Aditya Birla Sun Life Value Fund

125.1

5879

1.9

1.0

-5.6

19.7

22.0

12.7

0.57

EQUITY – TAX SAVING (ELSS) FUNDS

Axis ELSS Tax Saver Fund

98.4

34528

1.5

0.8

-0.7

12.9

15.9

12.3

0.42

EQUITY – FOCUSED FUNDS

Axis Focused Fund

56.3

12286

1.8

0.8

-1.2

10.5

13.7

12.5

0.35

EQUITY – LARGE CAP FUNDS

Axis Large Cap Fund

61.8

32954

1.6

0.7

-0.9

11.8

14.6

12.6

0.45

HYBRID – CONSERVATIVE HYBRID FUNDS

Bandhan Conservative Hybrid Fund

32.2

105

2.0

1.1

3.4

7.5

6.6

6.7

0.43

HYBRID – CONSERVATIVE HYBRID FUNDS

Baroda BNP Paribas Conser Hybrid

45.0

813

2.0

0.5

4.2

8.4

7.7

7.3

0.59

HYBRID – BALANCED ADVANTAGE FUNDS

BOI Balanced Advantage Fund

25.1

139

2.3

1.0

-0.7

10.6

11.3

7.2

0.47

EQUITY – MID CAP FUNDS

DSP Midcap Fund

150.7

19037

1.7

0.7

-0.3

19.2

19.1

15.6

0.56

EQUITY – SECTOR – IT FUNDS

Franklin India Technology Fund

531.4

1882

2.0

1.0

-2.9

24.4

19.7

16.3

0.54

EQUITY – LARGE CAP FUNDS

Groww Largecap Fund

43.8

127

2.5

1.3

-1.8

14.3

16.6

11.6

0.51

HYBRID – AGGRESSIVE HYBRID FUNDS

HSBC Aggressive Hybrid Fund

57.7

5475

1.9

0.8

3.8

16.3

16.4

11.5

0.51

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

HSBC Infrastructure Fund

47.6

2278

2.1

1.1

-5.8

23.0

29.0

16.5

0.73

EQUITY – THEMATIC – CONSUMPTION FUNDS

ICICI Prudential FMCG Fund

486.4

2073

2.1

1.3

-10.8

9.1

15.3

12.1

0.52

HYBRID – AGGRESSIVE HYBRID FUNDS

LIC MF Aggressive Hybrid Fund

199.7

519

2.5

1.4

1.3

13.6

14.0

9.4

0.52

EQUITY – SECTOR – BANKING FUNDS

LIC MF Banking & Financial Services Fund

21.0

267

2.5

1.2

2.5

11.0

18.5

8.3

0.49

EQUITY – FLEXI CAP FUNDS

LIC MF Flexi Cap Fund

102.6

1009

2.3

1.4

-2.7

15.5

16.9

10.3

0.49

EQUITY – MID CAP FUNDS

LIC MF Midcap Fund

29.6

330

2.5

1.4

-3.4

19.6

22.0

–

0.59

EQUITY – SMALL CAP FUNDS

LIC MF Small Cap Fund

31.5

604

2.4

1.0

-5.0

18.5

27.7

–

0.66

HYBRID – BALANCED ADVANTAGE FUNDS

Motilal Oswal Balanced Advantage Fund

20.7

1022

2.2

0.9

-9.6

9.7

8.9

–

0.24

EQUITY – FOCUSED FUNDS

Motilal Oswal Focused Fund

43.7

1464

2.1

1.0

-14.0

9.4

13.4

10.7

0.33

EQUITY – LARGE & MID CAP FUNDS

Navi Large & Midcap Fund

35.7

311

2.3

0.5

-3.5

12.9

18.7

–

0.60

HYBRID – EQUITY SAVINGS FUNDS

Nippon India Equity Savings Fund

16.1

776

1.8

0.7

3.6

8.9

9.6

4.7

0.72

HYBRID – AGGRESSIVE HYBRID FUNDS

PGIM India Aggressive Hybrid Equity Fund

133.0

215

2.3

0.8

3.8

13.3

14.0

9.0

0.50

EQUITY – LARGE CAP FUNDS

PGIM India Large Cap Fund

347.3

596

2.4

0.9

-1.2

12.8

15.3

10.8

0.50

EQUITY – DIVIDEND YIELD FUNDS

Sundaram Dividend Yield Fund

136.9

879

2.3

1.1

-4.5

16.8

19.7

14.8

0.69

EQUITY – FLEXI CAP FUNDS

Taurus Flexi Cap Fund

229.0

349

2.6

-3.8

13.2

17.2

9.9

0.52

EQUITY – MID CAP FUNDS

Taurus Mid Cap Fund

124.6

128

2.6

2.1

-2.0

18.1

20.6

15.4

0.56

EQUITY – TAX SAVING (ELSS) FUNDS

UTI ELSS Tax Saver Fund

209.2

3665

1.9

0.9

-4.0

13.3

18.3

12.6

0.56

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

UTI Infrastructure Fund

142.0

2108

2.2

1.9

-5.1

19.4

25.7

13.0

0.74

EQUITY – THEMATIC – MNC FUNDS

Aditya Birla Sun Life MNC Fund

–

1408.1

3713

2.0

1.3

-2.0

13.0

12.2

9.1

0.38

HYBRID – AGGRESSIVE HYBRID FUNDS

Axis Aggressive Hybrid Fund

–

20.8

1527

2.2

1.1

0.6

10.8

13.5

–

0.49

EQUITY – LARGE & MID CAP FUNDS

Axis Large & Mid Cap Fund

–

33.5

14711

1.7

0.6

1.0

18.1

22.0

–

0.62

HYBRID – BALANCED ADVANTAGE FUNDS

Baroda BNPP Balanced Advantage Fund

–

24.6

4332

1.9

0.7

3.5

14.2

14.3

–

0.63

EQUITY – THEMATIC – CONSUMPTION FUNDS

Baroda BNPP India Consumption Fund

–

33.0

1512

2.1

0.6

-4.0

16.3

20.3

–

0.62

EQUITY – MULTI CAP FUNDS

Baroda BNPP Multi Cap Fund

–

291.5

2923

2.0

0.9

-1.4

19.5

24.1

14.3

0.68

HYBRID – CONSERVATIVE HYBRID FUNDS

BOI Conservative Hybrid Fund

–

34.4

2.1

1.2

3.6

7.6

11.0

7.6

0.96

EQUITY – SMALL CAP FUNDS

BOI Small Cap Fund

–

47.2

1879

2.0

0.7

-5.1

20.4

27.5

–

0.67

EQUITY – SMALL CAP FUNDS

Canara Robeco Small Cap Fund

–

39.6

12588

1.7

0.5

-4.9

16.4

27.0

–

0.75

EQUITY – SECTOR – PHARMA FUNDS

DSP Healthcare Fund

–

40.1

3107

1.9

0.6

-0.8

25.4

17.5

–

0.61

EQUITY – SMALL CAP FUNDS

Edelweiss Small Cap Fund

–

44.9

4921

1.8

0.4

-1.8

20.6

28.2

–

0.79

HYBRID – EQUITY SAVINGS FUNDS

Franklin India Equity Savings Fund

–

16.6

658

1.1

0.3

5.0

8.2

9.9

–

0.67

HYBRID – AGGRESSIVE HYBRID FUNDS

Groww Aggressive Hybrid Fund

–

21.0

2.4

1.4

-1.3

12.3

14.7

–

0.57

EQUITY – TAX SAVING (ELSS) FUNDS

Groww ELSS Tax Saver Fund

–

20.3

2.3

0.9

-4.2

14.7

16.5

–

0.50

EQUITY – VALUE FUNDS

Groww Value Fund

–

27.6

2.3

0.9

2.0

17.3

19.3

10.5

0.63

EQUITY – LARGE & MID CAP FUNDS

HSBC Large & Mid Cap Fund

–

27.8

4311

1.9

0.8

0.7

20.8

22.4

–

0.56

EQUITY – TAX SAVING (ELSS) FUNDS

HSBC Tax Saver Equity Fund

–

96.9

241

2.5

1.8

4.1

19.6

22.0

13.8

0.64

EQUITY – MULTI CAP FUNDS

ICICI Prudential Multicap Fund

–

805.0

15281

1.7

0.9

-1.5

20.6

24.4

14.8

0.80

EQUITY – SECTOR – PHARMA FUNDS

ICICI Prudential P.H.D Fund

–

41.1

6162

1.9

1.0

7.0

29.8

20.0

–

0.74

EQUITY – CONTRA FUNDS

Invesco India Contra Fund

–

137.8

18981

1.6

0.5

-1.1

20.1

22.2

16.5

0.71

HYBRID – EQUITY SAVINGS FUNDS

Invesco India Equity Savings Fund

–

17.1

459

2.3

0.7

2.3

11.0

9.3

–

0.52

EQUITY – MULTI CAP FUNDS

Invesco India Multicap Fund

–

132.8

4043

1.9

0.7

-4.0

18.8

22.1

14.4

0.63

EQUITY – SMALL CAP FUNDS

Invesco India Smallcap Fund

–

42.8

7718

1.7

0.4

0.9

25.7

29.5

–

0.76

HYBRID – BALANCED ADVANTAGE FUNDS

Kotak Balanced Advantage Fund

–

20.8

17339

1.7

0.6

3.3

12.0

11.9

–

0.70

EQUITY – CONTRA FUNDS

Kotak Contra Fund

–

153.8

4493

1.9

0.6

-0.7

21.6

23.7

16.2

0.78

HYBRID – CONSERVATIVE HYBRID FUNDS

LIC MF Conservative Hybrid Fund

–

81.8

2.3

1.4

2.8

6.5

6.4

0.42

EQUITY – DIVIDEND YIELD FUNDS

LIC MF Dividend Yield Fund

–

31.3

639

2.3

0.8

-2.2

21.6

–

0.67

HYBRID – EQUITY SAVINGS FUNDS

LIC MF Equity Savings Fund

–

28.2

2.3

1.2

7.4

9.9

10.1

7.0

0.55

EQUITY – SECTOR – PHARMA FUNDS

LIC MF Healthcare Fund

–

30.1

2.5

1.2

3.0

21.6

13.6

–

0.46

EQUITY – VALUE FUNDS

LIC MF Value Fund

–

24.5

181

2.5

1.4

-6.2

15.5

19.3

–

0.51

EQUITY – THEMATIC – CONSUMPTION FUNDS

Mahindra Manulife Consumption Fund

–

23.7

529

2.4

0.7

-4.5

16.4

20.2

–

0.63

EQUITY – LARGE CAP FUNDS

Mahindra Manulife Large Cap Fund

–

23.3

704

2.3

0.7

-1.4

13.8

18.4

–

0.64

EQUITY – MULTI CAP FUNDS

Mahindra Manulife Multi Cap Fund

–

35.9

5622

1.8

0.4

-1.9

19.4

25.1

–

0.70

HYBRID – EQUITY SAVINGS FUNDS

Mirae Asset Equity Savings Fund

–

20.5

1615

1.4

0.4

5.7

11.1

12.1

–

0.86

EQUITY – SECTOR – PHARMA FUNDS

Mirae Asset Healthcare Fund

–

39.6

2796

1.9

0.5

2.3

23.2

17.2

–

0.60

EQUITY – TAX SAVING (ELSS) FUNDS

Navi ELSS Tax Saver Fund

–

28.9

2.3

0.4

-5.3

12.4

15.3

–

0.48

EQUITY – FLEXI CAP FUNDS

Navi Flexi Cap Fund

–

23.2

252

2.2

0.6

-3.4

12.7

17.1

–

0.55

EQUITY – MULTI CAP FUNDS

Nippon India Multi Cap Fund

–

306.9

46216

1.5

0.7

1.5

22.9

29.8

15.4

0.91

EQUITY – SECTOR – PHARMA FUNDS

Nippon India Pharma Fund

–

523.8

8357

1.8

0.9

1.6

24.3

17.5

13.2

0.61

HYBRID – EQUITY SAVINGS FUNDS

PGIM India Equity Savings Fund

–

49.7

1.3

0.6

4.9

7.2

8.5

7.1

1.02

EQUITY – FLEXI CAP FUNDS

Quant Flexi Cap Fund

–

98.8

6687

1.8

0.7

-9.6

15.9

26.0

19.0

0.71

EQUITY – MULTI CAP FUNDS

Quant Multi Cap Fund

–

632.4

9200

1.7

0.6

-10.6

11.5

22.4

17.7

0.58

EQUITY – CONTRA FUNDS

SBI Contra Fund

–

386.2

46654

1.5

0.7

-2.6

20.3

29.3

16.3

1.11

EQUITY – SECTOR – PHARMA FUNDS

SBI Healthcare Opportunities Fund

–

438.4

3963

1.9

0.9

5.3

26.6

19.3

11.5

0.71

EQUITY – THEMATIC – MNC FUNDS

SBI MNC Fund

–

362.2

6000

1.9

1.2

-5.3

7.7

13.8

10.6

0.45

HYBRID – AGGRESSIVE HYBRID FUNDS

Shriram Aggressive Hybrid Fund

–

31.8

2.4

0.9

-4.3

10.9

13.0

9.4

0.45

EQUITY – TAX SAVING (ELSS) FUNDS

Shriram ELSS Tax Saver Fund

–

21.2

2.3

0.8

-11.0

10.6

13.6

–

0.35

EQUITY – FLEXI CAP FUNDS

Shriram Flexi Cap Fund

–

20.3

133

2.4

0.8

-11.6

10.2

14.2

–

0.37

HYBRID – CONSERVATIVE HYBRID FUNDS

Sundaram Conservative Hybrid Fund

–

29.5

1.9

0.9

2.3

7.2

8.4

6.8

0.74

EQUITY – MULTI CAP FUNDS

Sundaram Multi Cap Fund

–

390.3

2810

2.0

0.9

0.5

16.8

22.8

15.6

0.71

EQUITY – VALUE FUNDS

Sundaram Value Fund

–

224.4

1461

2.2

1.7

0.0

13.0

18.7

12.1

0.66

HYBRID – BALANCED ADVANTAGE FUNDS

Tata Balanced Advantage Fund

–

20.6

9826

1.7

0.4

1.2

11.0

12.5

–

0.82

EQUITY – FLEXI CAP FUNDS

Tata Flexi Cap Fund

–

24.9

3394

1.9

0.6

2.6

15.6

17.2

–

0.59

EQUITY – SECTOR – PHARMA FUNDS

Tata India Pharma & Healthcare Fund

–

31.3

1309

2.1

0.6

1.3

24.7

17.4

–

0.63

EQUITY – SMALL CAP FUNDS

Tata Small Cap Fund

–

41.0

11416

1.7

0.3

-5.4

21.3

29.3

–

0.80

EQUITY – SECTOR – BANKING FUNDS

Taurus Banking & Financial Services Fund

–

54.0

2.4

1.6

4.4

13.4

19.9

12.7

0.53

EQUITY – TAX SAVING (ELSS) FUNDS

Taurus ELSS Tax Saver Fund

–

189.3

2.4

1.8

1.2

18.4

18.6

13.8

0.66

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Taurus Infrastructure Fund

–

69.3

2.5

2.0

-2.4

18.9

23.2

15.1

0.61

EQUITY – LARGE CAP FUNDS

Taurus Large Cap Fund

–

159.2

2.6

2.4

-1.0

12.5

16.9

10.1

0.50

HYBRID – EQUITY SAVINGS FUNDS

Union Equity Savings Fund

–

16.9

150

2.0

1.5

3.3

8.3

–

0.58

EQUITY – VALUE FUNDS

Union Value Fund

–

28.8

332

2.5

1.3

0.5

18.5

21.7

–

0.71

HYBRID – EQUITY SAVINGS FUNDS

UTI Equity Savings Fund

–

18.4

714

1.6

0.7

4.1

10.7

11.8

–

0.95

EQUITY – SECTOR – PHARMA FUNDS

UTI Healthcare Fund

–

298.3

1119

2.3

1.3

4.8

26.9

17.6

11.7

0.60

EQUITY – THEMATIC – MNC FUNDS

UTI MNC Fund

–

408.0

2863

2.0

1.3

-2.2

13.5

14.8

10.4

0.49

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Swiggy, One97 Communications, JSW Energy, AU Small Finance Bank: Top midcap stocks fund managers kept buying for six months

by Hansraj Agrawal | Sep 19, 2025 | Share Market

The Indian equity market has witnessed sharp swings over the past year, but the last six months have seen a notable rebound, particularly from March 2025, after a steep correction from the late-September 2024 peak through early March 2025. During this six-month period ending September 17, 2025, the Nifty 50 Total Return Index (TRI) advanced 14 per cent, while the Nifty Midcap 150 TRI and Nifty Smallcap 250 TRI gained 21 per cent and 24 per cent, respectively.

This rebound coincided with steady mutual fund inflows, allowing managers to build positions in favoured midcaps. Mutual funds have remained steady net buyers, pumping in nearly ₹2.5 lakh crore into equities over the same period. This ample liquidity, coupled with market volatility, has given active managers opportunities to accumulate quality stocks at attractive levels.

Against this backdrop, here are the midcap stocks that active fund managers have consistently added to their portfolios over the past six months. The selection features stocks that saw a significant increase in the number of equity schemes investing in them from February to August 2025, narrowed down to those with consistent month-on-month increases in scheme participation for at least four of those six months.

All equity and hybrid categories excluding Index funds, Exchange Traded Funds (ETFs) and arbitrage funds were considered for the study.

The top three names are Swiggy, One97 Communications, and IDFC First Bank. The count of active equity schemes holding Swiggy climbed to 144 in August 2025, up from 90 in February 2025, with fresh additions from HDFC Flexi Cap, Axis Midcap, and Nippon India Multi Cap.

One97 Communications, the parent of Paytm, witnessed an increase to 103 from 51 over the same period, led by new entries such as Motilal Oswal Large & Midcap, Canara Rob Mid Cap, and UTI Multi Asset Allocation. Meanwhile, IDFC First Bank witnessed an increase to 48 schemes in August 2025 from just 9 in February, with Sundaram Mid Cap, Franklin India Mid Cap, and Bandhan Value Fund among the notable new investors.

Published on September 19, 2025

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REITs get equity status: which mutual fund categories to enter, which to exit positions

by Hansraj Agrawal | Sep 15, 2025 | Share Market

At its September 12 board meeting, capital market regulator SEBI reclassified Real Estate Investment Trusts (REITs) as “equity” investments for mutual funds. Until now, both REITs and InvITs (Infrastructure Investment Trusts) were treated as hybrid instruments for mutual fund investments.

So far, MFs were allowed a combined exposure of up to 10 per cent in REITs and InvITs. With the reclassification, REITs can now be freely included in equity and hybrid schemes, while their share in debt funds will be phased out.

REITs and InvITs are pooled investment vehicles that provide exposure to real estate and infrastructure assets without direct ownership. REITs largely invest in commercial, residential, and retail properties, while InvITs focus on roads, power, and telecom networks. Both offer stable income and growth prospects. Currently, five REITs and 17 InvITs are listed in India.

How MF invested in REITs and InvITs

As of August 2025, MFs held ₹17,674 crore in REITs and ₹5,368 crore in InvITs. Hybrid funds accounted for the largest REIT allocation at ₹10,336 crore, followed by equity funds at ₹5,845 crore and debt funds at ₹1,307 crore. All five listed REITs feature in MF portfolios—Embassy Office Parks (₹8,943 crore), Nexus Select Trust (₹3,481 crore), Brookfield India (₹3,414 crore), Mindspace Business Parks (₹1,302 crore), and Knowledge Realty (₹535 crore).

While REITs now enjoy equity status, their moderate risk–reward profile may still appeal most to balanced fund categories. Deepak Agrawal, CIO – Debt, Kotak Mahindra AMC, noted, “This may lead to increased participation from mutual funds, particularly hybrid schemes.” Currently, Balanced Advantage, Flexi Cap, Aggressive Hybrid, and Multi Asset Allocation funds hold the highest REIT exposure.

Debt funds to exit REIT exposure

On the other hand, debt fund categories are set to pare down holdings. Credit Risk Funds (₹554 crore), Medium Duration (₹543 crore), and Dynamic Bond Funds (₹199 crore) are the top allocators, with schemes such as 360 ONE Dynamic Bond (7.1 per cent), Kotak Medium Term (7 per cent), and ICICI Pru Credit Risk Fund (6.6 per cent) carrying higher REIT weights.

Additionally, with REITs moving to equity, the existing 10 per cent joint investment limit for mutual funds will now apply solely to InvITs, paving the way for further growth in the infrastructure trust segment.

Published on September 15, 2025

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This new index fund bets only on sector toppers: Should you invest?

by Hansraj Agrawal | Sep 13, 2025 | Share Market

Equity markets have been highly volatile over the past year with Indian indices being among the worst performers, lagging steeply in comparison to other emerging and even developed economies.

Investors are faced with a mixed picture. On the one hand, increasing income tax thresholds, GST reforms, lower interest rates, steady performance in GDP growth rate, and controlled inflation present a positive outlook. Corporate earnings have been moderate with some pockets delivering well.

However, the external picture is a bit muddled. Despite the recent thaw, penal US trade tariffs continue to be levied. Disruptions from the use of technology (AI, automation etc.) leading to job losses, geopolitical tensions and slowing global demand are all hurting businesses, especially those in the export-oriented segments.

For investors, taking exposure to companies that are leaders in their respective sectors may work well given that these firms, perhaps, are better placed to withstand a turmoil during troubled macroeconomic scenarios. Though most of such companies happen to be large caps, firms that are sector leaders with moats exist even in mid and small cap segments.

In this regard, Bandhan Mutual fund has rolled out a new BSE India Sector Leaders scheme that is open for subscription till September 17.

Read on to take an informed call on whether you should be investing in the new fund.

Choosing the leaders

The primary idea behind investing in companies that are leaders in the segments they operate in, is to gain from their economic moats.

These moats can be in several forms. Strong brand presence and recall, cost advantages due to scale economics, high switching costs for consumers, ability to control access to new entrants, intellectual property and the network effect are some of these competitive advantages.

From a market perspective, it makes sense for investors to take exposure to such stocks for a variety of reasons.

Long-term wealth creation, strong customer loyalty, low possibility of disruptions that could significantly hurt business prospects, sustained profitability over the foreseeable future, resilience to turbulent markets and easy access to capital (often at lower interest rates) characterise these leading firms.

What’s the fund about?

Bandhan’s new fund will track the BSE India Sector Leaders Index. The investment universe of the index is the BSE 500 index.

Now, the top three companies within a sector based on their total market capitalisation are taken. A maximum of 21 sectors are included in the benchmark with 61 stocks making it to the BSE India Sector Leaders Index.

However, the weighting of individual stocks is based on free-float market capitalisation. The maximum weightage is 5 per cent for a stock, while the minimum is 1 per cent.

Index constituents are rebalanced semi-annually in June and December.

The difference in returns between the best and worst performing sectors can vary significantly to the tune of 40-50 percentage points in a given year, going by the last 10 calendar years’ performance.

Periodic rebalancing of sectors ensures rotation of performing segments. Besides, the ceiling on weightage to individual stocks and restricting firms within a sector to a maximum of three helps moderate concentration risk.

The recent factsheet (August 31, 2025) shows that the top five sectors held by the fund are consumer discretionary, financial services, commodities, information technology, and industrials. These sectors have weightages of 8.9-23.1 per cent in the index.

In terms of stocks, Bharti Airtel, ICICI Bank, HDFC Bank, Reliance Industries and Infosys are the top five holdings.

The market capitalisation composition going by June 2025 data shows that 82.9 per cent of the portfolio was large cap, 10 per cent was midcap and the remaining 7.1 per cent was small cap.

It is a flexicap index with a heavy large cap tilt.

When it comes to performance, the BSE India Sector Leaders index has done well when compared to the BSE Sensex TRI as well as the broader market BSE 500 TRI, going by back-tested data from April 2008 to July 2025.

On a point-point basis, the BSE India Sector Leaders index has outperformed the BSE Sensex TRI by 2-5 percentage points and the BSE 500 TRI by 1-1.5 percentage points over three, five and ten-year timeframes.

When three-year and five-year rolling returns are considered, the BSE India Sector Leaders index once again comfortably outperforms the other two benchmarks mentioned earlier.

What should investors do?

Bandhan BSE India Sector Leaders index fund is a first such offering from an asset management company so far.

The large-cap tilt gives the fund a reasonable degree of stability amid volatile conditions. This is more relevant now as the recovery rally especially during April-June in the mid and small cap spaces have resulted in those indices considerably widening the valuation gap with large caps.

The fairly well-diversified portfolio spread across sectors and stocks would give some cushion to investors during downturns.

A passive fund with a clear market capitalisation-based stock selection methodology means the process is fairly transparent and simple to understand for investors.

For those willing to invest for the long term of five-plus years at least, the new fund can be a good diversifier to their portfolios.

Small SIPs can be considered in the fund with a long-term perspective.

Published on September 13, 2025

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Debt Cushion & Equity Upside

by Hansraj Agrawal | Sep 13, 2025 | Share Market

Conservative hybrid funds cater to investors with a low to moderate risk profile who seek limited exposure to equities alongside a debt-oriented portfolio. Typically, 75–90 per cent of the corpus goes into debt and 10–25 per cent into equities. The high debt component provides stability and regular income, while the equity portion offers potential for growth.

ICICI Prudential Regular Savings Fund (IRSF) belongs to this category and has delivered debt-plus returns consistently over the long term. Over the last 10 years, it has generated a compounded annual growth rate (CAGR) of 9.5 per cent. The fund has kept its equity allocation between 15–24 per cent over the past five years, adjusting flexibly to market conditions, while the remaining share is invested in debt instruments.

Equity strategy

The fund’s equity strategy blends top-down macroeconomic analysis with bottom-up contrarian stock picking. The manager tracks economic and sectoral cycles to identify broad investment themes. The bottom-up approach, meanwhile, rests on mean reversion—buying fundamentally strong businesses facing temporary headwinds, aiming for recovery-driven upside while ensuring a margin of safety.

Currently, among sectors, life insurance carries a significant overweight, while utilities such as power and telecom also feature prominently. Consumer discretionary, capital goods, and market-facing stocks are underweighted, given their stretched valuations relative to fundamentals.

In terms of market-cap bias, nearly two-thirds of the equity allocation sits in large-caps, with the balance in mid- and small-caps. Presently, around 13 per cent of total assets are in large-caps, 3 per cent in mid-caps, and 6 per cent in small-caps.

Debt Portfolio

The debt side is managed dynamically. Allocations include government securities for interest rate plays and liquidity, AAA-rated corporate debt for stability, and selective exposure to non-AAA papers (A-rated and above) to enhance yield.

The portfolio duration has been kept moderate, with a Macaulay Duration of 1.25–3.5 years over the past five years. Currently, it holds about 20 per cent in G-secs (with a tilt towards longer maturities of 30–40 years), 18 per cent in AAA-rated corporates, 30 per cent in non-AAA papers, and around 12 per cent in money market instruments. IRSF is among the three funds in the category—alongside Nippon India Conservative Hybrid and SBI Conservative Hybrid Fund—that maintain higher allocations to non-AAA assets, with a 26–51 per cent range over the past five years.

The non-AAA segment plays a crucial role in boosting portfolio yield. Exposure here is guided by spreads and interest rate outlook, alongside careful evaluation of balance sheet strength, leverage, group backing, and market positioning. Currently, around 4 per cent of assets are in A-rated instruments, including Ashiana Housing, Kogta Financial, Prism Johnson, and Bamboo Hotel & Global Centre. At close to 26 per cent, the AA-rated holdings were around 26 per cent that featuring names such as Aadhar Housing Finance, Sheela Foam, JM Financial Credit Solutions, Narayana Hrudayalaya, and Yes Bank. The average maturity of these non-AAA investments is kept conservative, typically 1–1.25 years, for risk control.

Performance

Three-year rolling return analysis over the last seven years shows an average annualised return of 9.5 per cent versus the category average of 8.8 per cent, with returns ranging between 8.4 per cent and 11.4 per cent.

As of August 31, 2025, the fund’s debt portfolio carried a yield to maturity (YTM) of 7.4 per cent, ahead of the category average of 6.9 per cent. The regular plan has an expense ratio of 1.72 per cent, slightly below the category average of 1.8 per cent, while the direct plan’s expense ratio is 0.98 per cent, marginally above the category average of 0.93 per cent. Unlike the other debt categories, the high expense ratios are a minus point for this category of funds given the high debt exposure.

In terms of risk, the fund has maintained an annualised standard deviation of 2.9 per cent, versus the category average of 3.5 per cent. With its distinct allocation to non-AAA debt, consistent risk-adjusted performance, and moderate volatility, IRSF suits investors with a medium risk appetite and a minimum investment horizon of five years.

Published on September 13, 2025

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