Motilal Oswal Infrastructure NFO: Is This Fund Worth Building Upon?

by Hansraj Agrawal | Apr 26, 2025 | Share Market

Much of the economic growth in India, especially during the post-Covid period, has been fuelled by heavy investments made in the infrastructure space, largely by the government and a select few capex intensive segments of the industry.

Energy, railways, telecommunications, civil aviation, ports, shipping & waterways, road transport & highways have seen capex growth of 37.1-88.1 per cent compounded annually over FY20-FY24.

For FY26, the government has budgeted ₹11.21 trillion to be spent on capital expenditure, representing a growth of 10.1 per cent over the estimated outgo in FY25.

Given this background, as an investment theme, infrastructure is still attractive for an emerging economy such as India that hopes to achieve 6-7 per cent growth for the foreseeable future.

To be sure, several funds themed on infrastructure have been around for more than a decade now and many have a reasonably healthy track record.

In this regard, Motilal Oswal has rolled out a new infrastructure fund that will be open for subscription till May 7.

Read on to get a perspective on the new fund offer and also the track record of existing fund to take an informed call.

What the new fund is about

Motilal Oswal Infrastructure fund seeks to benefit from several underlying themes that would lead to rapid expansion in many sub-segments.

So, China plus one, Make in India, urbanisation, financialisation, consumer tech and digital infrastructure, healthcare ecosystem, telecom penetration could all be potential drivers of growth in the coming years.

The fund has a wider definition of infrastructure to include several segments: automobiles and components, capital goods, construction and materials, healthcare, oil, gas & consumable fuels, power, realty and telecom. This wider scope gives more opportunities for the fund to invest in.

India is set to spend 22.1 per cent of the total budgeted amount in capital spending (the highest proportion over the years) in FY26.

Indeed, capex on defence, railways, housing and roads has risen 3x to 17x from FY11 to FY25.

The fund will use its QGLP framework to select stocks. Quality (ROE, ROCE), growth, longevity and price (PE, PEG and DCF) criteria would be used to zoom in on the best set of stocks in the infrastructure theme.

Should you invest?

As mentioned earlier, infrastructure have a long track record. From being narrowly focused on power, capital goods about 15 years ago, these funds have become more diversified with many segments added into the infrastructure theme.

On a rolling five-year returns basis from January 2013 to April 2025, all the 18 active funds in the theme have managed to beat the Nifty Infrastructure TRI comfortably.

The top 10 in terms of mean returns over the aforementioned period on a 5-year rolling basis are given in the table.

As a theme, it is important to note that infrastructure funds can deliver volatile returns. From the table, it is clear that even over five-year rolling periods, there can be periods of negative returns from funds.

However, over long holding periods of 7-10 years or more, these investments have been rewarding.

ICICI Prudential Infrastructure, Invesco India Infrastructure, BoI Manufacturing & Infrastructure and Franklin Build India are funds that have a long track record of delivering robust returns.

These funds must be among the preferred choices for investors looking to bet on the infrastructure theme.

As a fund house, Motilal Oswal has many schemes that have delivered well across equity categories. But given that the infrastructure theme is risky, investors will need to watch for the new scheme’s ability to juggle the various segments within the theme.

As investors already have proven funds that track the theme, they need to take a call on whether they need any additional exposure at all to this scheme.

However, investors with a high-risk appetite can consider small SIPs in the scheme if they can stay put for the long term.

Published on April 26, 2025

Source link

ICICI Prudential All-Season Bond Fund: Navigating Rate Cycles With Model-Driven Strategy

by Hansraj Agrawal | Apr 26, 2025 | Share Market

Debt mutual fund investors have enjoyed good returns over the past 18–20 months, especially from higher duration strategies. In the last one year, the long duration funds, gilt funds with a 10-year constant duration, and dynamic bond funds posted returns of 13 per cent, 12 per cent, and 11 per cent respectively.

The RBI maintained a 6.5 per cent repo rate from February 2023 onwards as inflation exceeded its target. As inflation moderated and growth concerns surfaced, the RBI’s Monetary Policy Committee (MPC) pivoted in early 2025, implementing consecutive 25-basis-point cuts in February and April, lowering the rate to 6 per cent. The shift from neutral to accommodative stance suggests further rate cuts may be on the horizon.

Market watchers note that after the recent rallies, the 10-year G-sec yield at 6.3 per cent appears to have fully priced in expected rate cuts, potentially limiting further upside for long-duration strategies. Consequently, funds with 1-3 year duration profiles offering attractive carry without excessive interest rate risk may represent more balanced opportunities in the current environment.

This makes dynamic bond funds, known for their flexible duration management a good addition to one’s investment portfolio. Their all-weather nature enables performance in both rising and falling rate scenarios.

ICICI Prudential All-Season Bond Fund (IASBF) has consistently outperformed within the category across various interest rate cycles.

Static allocation, active duration

The fund demonstrates a static approach in allocating between government securities and credit exposures. It has maintained an average 48 per cent of its portfolio in government securities over the past five years. At the same time, around 45 per cent has been invested in corporate debt, with half of that portion rated AA or below. This greater emphasis on government securities helps in risk mitigation and provides the liquidity needed for active duration management.

The fund navigates interest rate cycles through tactical duration management. What differentiates this fund is its proprietary economic model developed over a decade that directs portfolio construction based on macroeconomic indicators including fiscal deficit, current account deficit, and credit growth. This helps the fund manager to adjust duration from conservative to aggressive stances in alignment with economic conditions.

For instance, during post-Covid market conditions, the model correctly anticipated rate hikes, prompting the fund to reduce duration to approximately two years while significantly increasing exposure to floating rate bonds. Floating rate bonds can adjust to market conditions efficiently as they periodically reset their interest rates to reflect prevailing rates. This helped the fund to deliver superior returns of 18 per cent during the cycle as compared to the category average of 14 per cent.

However, the fund has underperformed the category average by approximately half a per cent in the current declining cycle, primarily because it maintained a Macaulay Duration of around four years. In contrast, peers with durations of eight years or more generated higher returns.

Considering the manager’s current view that the 10-year G-sec bond is overvalued and factored in anticipated rate cuts, the fund is expected to shorter duration.

The fund typically aims for a higher carry portfolio by investing in lower duration bonds, primarily within the AA rating segment. Among its peers, it holds the highest allocation to AA and below-rated bonds, a strategy that enables the potential for higher returns while accepting risk. Over the past five years, it has maintained an average allocation of 23 per cent to these bonds. Prominent AA-rated issuers in the portfolio include Tata Projects, Nirma, and Vedanta.

ICICI Prudential All-Season Bond Fund has demonstrated a strong long-term track record across various interest rate cycles. Its aggressive duration and credit strategies, however, result in higher return volatility.

Over the past decade, the fund’s annual returns have ranged widely, from a low of 1.2 per cent in 2021 to a peak of 19 per cent in 2016. An analysis of 5-year rolling returns over the past 10-year period reveals that the fund generated an annualised return of 8 per cent, outperforming the category average of 6.6 per cent.

The fund boasts a portfolio yield to maturity (YTM) of 7.64 per cent as of March 31, 2025, the highest among the peers.

The fund’s expense ratio for the regular plan is 1.3 per cent, slightly above the category average of 1.2 per cent, while the direct plan’s expense ratio is 0.59 per cent, higher than the category average of 0.52 per cent.

Published on April 26, 2025

Source link

Mutual Funds returns

by Hansraj Agrawal | Apr 26, 2025 | Share Market

EQUITY – FOCUSED FUNDS

360 ONE Focused Equity Fund

44.8

6730

1.8

0.6

4.0

16.3

25.0

15.3

0.82

EQUITY – TAX SAVING (ELSS) FUNDS

Bank of India ELSS Tax Saver

150.3

1320

2.0

0.8

-4.7

16.3

25.2

15.0

0.69

HYBRID – AGGRESSIVE HYBRID FUNDS

BOI AXA Mid & Small Cap Eq&Debt

35.5

1068

2.1

0.8

3.0

15.3

26.7

–

0.74

EQUITY – LARGE CAP FUNDS

Canara Robeco Bluechip Equity Fund

60.4

14965

1.7

0.5

10.3

15.1

21.4

13.4

0.78

EQUITY – THEMATIC – CONSUMPTION FUNDS

Canara Robeco Consumer Trends Fund

104.7

1695

2.1

0.9

7.1

17.7

23.8

15.5

0.76

HYBRID – BALANCED ADVANTAGE FUNDS

Edelweiss Balanced Advantage Fund

48.8

12240

1.7

0.5

4.8

11.4

16.1

10.1

0.86

HYBRID – EQUITY SAVINGS FUNDS

Edelweiss Equity Savings Fund

24.5

577

1.6

0.6

9.8

10.3

11.6

8.8

1.04

EQUITY – LARGE & MID CAP FUNDS

HDFC Large and Mid Cap Fund

317.2

23380

1.7

1.0

6.0

19.8

29.5

13.7

0.95

HYBRID – BALANCED ADVANTAGE FUNDS

ICICI Prudential Balanced Advantage Fund

71.1

60591

1.5

0.9

9.5

12.8

17.3

11.0

1.30

EQUITY – LARGE CAP FUNDS

ICICI Prudential Bluechip Fund

105.1

64963

1.4

0.9

8.2

17.8

25.4

13.9

0.96

EQUITY – FOCUSED FUNDS

ICICI Prudential Focused Equity Fund

86.2

10484

1.8

0.7

14.0

21.9

28.4

14.3

1.00

EQUITY – SECTOR – IT FUNDS

ICICI Prudential Technology Fund

185.4

12731

1.8

1.1

9.2

8.8

31.4

17.1

0.81

EQUITY – VALUE FUNDS

ICICI Prudential Value Discovery Fund

445.5

49131

1.5

1.1

10.8

20.4

30.8

14.9

1.27

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Invesco India Infrastructure Fund

58.2

1410

2.1

0.8

1.6

23.9

31.4

15.2

0.79

EQUITY – FLEXI CAP FUNDS

JM Flexicap Fund

94.0

5263

1.8

0.6

3.7

23.6

28.4

16.2

0.84

EQUITY – LARGE CAP FUNDS

JM Large Cap Fund

145.0

491

2.4

0.7

-1.7

15.2

18.6

10.3

0.62

EQUITY – VALUE FUNDS

JM Value Fund

92.2

988

2.2

0.9

1.1

23.6

29.8

16.0

0.84

HYBRID – CONSERVATIVE HYBRID FUNDS

Kotak Debt Hybrid Fund

57.8

3017

1.7

0.5

9.8

10.6

12.6

9.6

1.20

EQUITY – MID CAP FUNDS

Motilal Oswal Midcap Fund

93.1

26028

1.6

0.6

13.0

26.6

37.2

17.5

0.92

EQUITY – SMALL CAP FUNDS

Nippon India Small Cap Fund

154.9

55491

1.4

0.7

1.8

21.5

38.8

20.6

0.98

EQUITY – FLEXI CAP FUNDS

Parag Parikh Flexi Cap Fund

80.8

93441

1.3

0.6

13.5

18.9

28.6

17.2

1.11

EQUITY – MID CAP FUNDS

PGIM India Midcap Opportunities Fund

59.3

10302

1.7

0.5

7.6

12.9

30.2

14.6

0.90

HYBRID – AGGRESSIVE HYBRID FUNDS

Quant Absolute Fund

398.1

2000

2.1

0.7

-3.3

12.1

27.5

14.8

0.98

EQUITY – TAX SAVING (ELSS) FUNDS

Quant ELSS Tax Saver Fund

341.7

10405

1.7

0.5

-8.5

14.5

34.8

19.3

0.91

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Quant Infrastructure Fund

34.9

3158

2.0

0.8

-13.8

17.1

41.5

17.1

0.95

EQUITY – LARGE & MID CAP FUNDS

Quant Large & Mid Cap Fund

111.0

3519

1.9

0.7

-5.4

17.4

26.5

16.1

0.77

EQUITY – MID CAP FUNDS

Quant Mid Cap Fund

209.2

8356

1.8

0.6

-7.3

18.8

33.6

16.4

0.95

EQUITY – SMALL CAP FUNDS

Quant Small Cap Fund

236.4

24893

1.6

0.7

-5.5

20.4

47.8

18.8

1.06

HYBRID – CONSERVATIVE HYBRID FUNDS

SBI Conservative Hybrid Fund

71.0

9666

1.5

1.1

8.8

9.9

12.6

9.0

1.31

EQUITY – TAX SAVING (ELSS) FUNDS

SBI Long Term Equity Fund

414.3

27730

1.6

1.0

7.0

24.2

29.5

14.2

1.04

HYBRID – EQUITY SAVINGS FUNDS

Sundaram Equity Savings Fund

68.4

976

2.2

0.8

8.0

10.9

14.8

9.3

1.05

EQUITY – SECTOR – BANKING FUNDS

Sundaram Financial Services Opportunities Fund

101.8

1415

2.2

0.9

11.6

21.2

26.2

13.7

0.73

EQUITY – DIVIDEND YIELD FUNDS

Templeton India Equity Income Fund

134.3

2286

2.1

0.9

4.9

17.6

30.3

14.5

1.24

HYBRID – BALANCED ADVANTAGE FUNDS

Aditya Birla SL Bal Advantage

102.4

7321

1.8

0.8

10.3

12.6

16.4

11.0

0.95

EQUITY – SMALL CAP FUNDS

AXIS Small Cap Fund

97.9

22736

1.6

0.6

7.9

17.4

30.4

17.8

0.91

EQUITY – LARGE & MID CAP FUNDS

Bandhan Core Equity Fund

124.6

7967

1.8

0.6

8.7

23.0

29.3

14.7

0.95

EQUITY – TAX SAVING (ELSS) FUNDS

Bandhan ELSS Tax Saver Fund

144.7

6597

1.8

0.7

3.1

14.3

28.5

14.0

0.95

EQUITY – VALUE FUNDS

Bandhan Sterling Value Fund

141.1

9430

1.8

0.7

4.0

16.6

33.8

14.7

1.06

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

BOI AXA Manufacturing & Infra

51.0

514

2.3

0.8

0.0

21.3

31.1

15.5

0.84

HYBRID – AGGRESSIVE HYBRID FUNDS

Baroda BNP Paribas Aggressive Hybrid Fund

26.5

1150

2.1

0.6

5.0

13.8

18.6

–

0.74

EQUITY – LARGE CAP FUNDS

Baroda BNP Paribas Large Cap Fund

210.3

2432

2.0

0.8

4.1

16.0

21.5

12.2

0.75

EQUITY – TAX SAVING (ELSS) FUNDS

Canara Robeco ELSS Tax Saver

164.7

8277

1.7

0.6

6.8

14.4

22.9

13.7

0.79

EQUITY – TAX SAVING (ELSS) FUNDS

DSP ELSS Tax Saver Fund

134.1

16218

1.7

0.8

13.8

19.3

27.4

15.7

0.94

EQUITY – LARGE CAP FUNDS

Edelweiss Large Cap Fund

80.5

1157

2.2

0.6

5.5

15.3

22.2

12.2

0.79

EQUITY – MID CAP FUNDS

Edelweiss Mid Cap Fund

92.0

8634

1.7

0.4

14.6

23.0

33.6

17.4

0.94

EQUITY – FLEXI CAP FUNDS

Franklin India Flexi Cap Fund

1562.0

17394

1.8

1.0

8.2

18.6

28.6

13.7

0.93

EQUITY – FLEXI CAP FUNDS

HDFC Flexi Cap Fund

1901.3

69639

1.4

0.8

14.9

23.2

31.1

15.2

1.10

EQUITY – FOCUSED FUNDS

HDFC Focused 30 Fund

219.8

17227

1.7

0.8

15.3

23.4

30.8

14.4

1.17

HYBRID – CONSERVATIVE HYBRID FUNDS

HDFC Hybrid Debt Fund

81.5

3310

1.7

1.2

9.0

10.9

12.8

9.0

1.22

EQUITY – MID CAP FUNDS

HDFC Mid-Cap Opportunities Fund

176.7

72610

1.4

0.9

9.7

24.8

33.5

17.1

1.06

HYBRID – BALANCED ADVANTAGE FUNDS

HSBC Balanced Advantage Fund

41.9

1471

2.1

0.8

7.0

11.0

12.1

7.8

0.74

HYBRID – EQUITY SAVINGS FUNDS

HSBC Equity Savings Fund

31.5

624

1.5

0.6

6.2

11.0

14.6

8.3

0.74

EQUITY – DIVIDEND YIELD FUNDS

ICICI Prudential Dividend Yield Equity Fund

50.2

4995

1.9

0.7

8.7

23.0

33.2

15.6

1.22

HYBRID – AGGRESSIVE HYBRID FUNDS

ICICI Prudential Equity & Debt Fund

377.8

40962

1.6

1.0

9.8

18.7

27.3

15.4

1.20

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

ICICI Prudential Infrastructure Fund

179.6

7214

1.9

1.2

3.6

28.1

39.1

15.8

1.15

EQUITY – LARGE & MID CAP FUNDS

ICICI Prudential Large & Mid Cap Fund

947.6

19353

1.7

0.9

10.5

21.1

30.5

14.9

1.09

HYBRID – CONSERVATIVE HYBRID FUNDS

ICICI Prudential Regular Savings Fund

73.8

3127

1.7

1.0

9.5

9.8

10.9

9.3

1.30

EQUITY – SECTOR – BANKING FUNDS

Invesco India Financial Services Fund

129.3

1208

2.2

0.9

12.9

20.1

25.0

14.3

0.65

HYBRID – AGGRESSIVE HYBRID FUNDS

JM Aggressive Hybrid Fund

115.9

768

2.3

0.7

3.5

20.7

27.8

11.9

1.01

EQUITY – TAX SAVING (ELSS) FUNDS

JM ELSS Tax Saver Fund

45.2

184

2.4

1.0

5.0

18.7

26.9

14.9

0.80

EQUITY – LARGE CAP FUNDS

Kotak Bluechip Fund

542.1

9424

1.7

0.6

8.6

14.8

22.8

12.4

0.81

EQUITY – MID CAP FUNDS

Kotak Emerging Equity Fund

119.6

48129

1.5

0.5

11.3

18.7

30.4

16.8

0.89

HYBRID – AGGRESSIVE HYBRID FUNDS

Kotak Equity Hybrid Fund

58.2

6795

1.8

0.5

9.9

14.0

22.0

12.2

0.92

EQUITY – LARGE & MID CAP FUNDS

Kotak Equity Opportunities Fund

315.5

24913

1.6

0.6

4.6

17.8

25.4

14.8

0.85

HYBRID – EQUITY SAVINGS FUNDS

Kotak Equity Savings Fund

25.3

8043

1.8

0.7

7.0

10.8

12.9

9.1

1.09

EQUITY – SMALL CAP FUNDS

Kotak Small Cap Fund

238.8

15706

1.7

0.6

3.4

13.7

33.5

16.9

0.91

EQUITY – TAX SAVING (ELSS) FUNDS

Mirae Asset ELSS Tax Saver Fund

45.5

23945

1.6

0.7

7.1

14.7

25.1

–

0.85

EQUITY – THEMATIC – CONSUMPTION FUNDS

Mirae Asset Great Consumer Fund

87.1

3872

1.9

0.5

6.2

17.3

24.2

14.6

0.75

EQUITY – LARGE & MID CAP FUNDS

Mirae Asset Large & Midcap Fund

138.5

36507

1.6

0.7

4.0

13.9

24.7

17.0

0.80

EQUITY – TAX SAVING (ELSS) FUNDS

Motilal Oswal ELSS Tax Saver Fund

46.2

3817

1.9

0.7

4.8

22.6

26.8

16.3

0.62

EQUITY – MID CAP FUNDS

Nippon India Growth Fund

3802.8

33175

1.6

0.7

11.3

23.6

33.5

17.3

0.98

EQUITY – LARGE CAP FUNDS

Nippon India Large Cap Fund

85.2

37546

1.6

0.7

6.1

20.1

27.2

13.8

0.92

EQUITY – VALUE FUNDS

Nippon India Value Fund

213.5

8101

1.8

1.1

6.8

20.9

30.1

15.4

0.94

EQUITY – FLEXI CAP FUNDS

PGIM India Flexi Cap Fund

34.0

5967

1.8

0.4

6.7

10.8

24.3

13.3

0.78

EQUITY – FOCUSED FUNDS

Quant Focused Fund

80.7

1013

2.2

0.7

-6.8

13.5

25.0

13.9

0.75

EQUITY – SECTOR – BANKING FUNDS

SBI Banking & Financial Services Fund

40.1

7111

1.8

0.8

17.9

19.0

24.4

15.5

0.67

EQUITY – THEMATIC – CONSUMPTION FUNDS

SBI Consumption Opportunities Fund

303.3

2904

2.0

0.9

6.6

17.2

27.7

15.3

0.89

EQUITY – SECTOR – IT FUNDS

Tata Digital India Fund

44.0

10996

1.6

0.3

6.1

8.8

28.8

–

0.71

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Tata Infrastructure Fund

158.8

2033

2.1

1.2

-9.6

20.1

30.8

14.0

0.79

EQUITY – FLEXI CAP FUNDS

Union Flexi Cap Fund

48.0

2159

2.1

1.0

4.0

14.1

23.4

11.6

0.77

EQUITY – SECTOR – BANKING FUNDS

Aditya Birla SL Bank & Fin Serv

58.8

3248

2.0

1.1

11.6

17.0

26.0

13.7

0.66

EQUITY – SECTOR – IT FUNDS

Aditya Birla Sun Life Digital India Fund

157.0

4530

1.9

0.9

3.0

7.9

27.7

16.9

0.71

EQUITY – DIVIDEND YIELD FUNDS

Aditya Birla Sun Life Dividend Yield Fund

418.3

1404

2.2

1.4

0.9

19.2

26.5

11.8

0.87

EQUITY – FLEXI CAP FUNDS

Aditya Birla Sun Life Flexi Cap Fund

1690.6

21668

1.7

0.9

9.2

15.4

24.0

13.6

0.78

EQUITY – FOCUSED FUNDS

Aditya Birla Sun Life Focused Fund

134.4

7360

1.8

0.9

8.3

15.2

22.3

12.3

0.79

EQUITY – LARGE CAP FUNDS

Aditya Birla Sun Life Frontline Equity Fund

502.0

28106

1.7

1.0

9.0

15.2

23.2

12.1

0.83

EQUITY – THEMATIC – CONSUMPTION FUNDS

Aditya Birla Sun Life India GenNext Fund

206.6

5613

1.9

0.8

9.3

16.2

23.2

14.9

0.74

HYBRID – CONSERVATIVE HYBRID FUNDS

Aditya Birla Sun Life Regular Savings Fund

65.4

1377

1.9

1.0

10.3

8.6

12.5

8.5

1.23

HYBRID – CONSERVATIVE HYBRID FUNDS

Axis Conservative Hybrid Fund

29.7

272

2.2

0.9

9.8

7.1

9.4

7.0

0.78

HYBRID – EQUITY SAVINGS FUNDS

Axis Equity Savings Fund

21.7

940

2.3

1.0

7.6

9.7

12.1

–

0.79

EQUITY – MID CAP FUNDS

Axis Midcap Fund

102.6

28063

1.6

0.6

9.1

16.1

24.5

15.3

0.71

HYBRID – BALANCED ADVANTAGE FUNDS

Bandhan Balanced Advantage Fund

23.5

2217

2.1

0.8

7.8

10.2

13.0

8.3

0.67

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Bandhan Infrastructure Fund

46.9

1563

2.1

0.9

0.5

25.8

36.0

15.0

0.85

EQUITY – LARGE CAP FUNDS

Bandhan Large Cap Fund

72.7

1766

2.1

0.9

7.6

15.2

21.6

11.6

0.73

HYBRID – CONSERVATIVE HYBRID FUNDS

Baroda BNP Paribas Conser Hybrid

43.9

739

2.0

0.6

7.3

8.3

8.5

7.2

0.70

EQUITY – TAX SAVING (ELSS) FUNDS

Baroda BNP Paribas ELSS Tax Saver Fund

89.7

866

2.2

1.0

6.8

16.6

21.5

12.0

0.67

EQUITY – MID CAP FUNDS

Baroda BNP Paribas Mid Cap Fund

93.4

1982

2.0

0.6

5.8

17.5

28.0

14.9

0.84

HYBRID – CONSERVATIVE HYBRID FUNDS

Canara Robeco Conservative Hybrid Fund

95.0

936

1.8

0.7

8.9

8.2

9.9

7.9

0.94

EQUITY – LARGE & MID CAP FUNDS

Canara Robeco Emerging Equities

241.0

23163

1.6

0.6

11.0

15.5

24.9

15.5

0.79

HYBRID – AGGRESSIVE HYBRID FUNDS

Canara Robeco Equity Hybrid Fund

343.4

10372

1.7

0.6

8.7

13.0

18.0

12.0

0.78

EQUITY – FLEXI CAP FUNDS

Canara Robeco Flexi Cap Fund

317.8

12194

1.7

0.6

8.0

13.7

21.6

13.0

0.74

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Canara Robeco Infrastructure Fund

146.3

816

2.3

1.1

7.4

25.4

33.0

14.8

0.91

HYBRID – AGGRESSIVE HYBRID FUNDS

DSP Aggressive Hybrid Fund

350.3

10425

1.8

0.7

17.0

16.1

20.3

12.7

0.81

HYBRID – BALANCED ADVANTAGE FUNDS

DSP Dynamic Asset Allocation Fund

26.9

3217

1.9

0.7

11.5

11.4

12.9

8.8

0.82

EQUITY – LARGE & MID CAP FUNDS

DSP Equity Opportunities Fund

591.6

13784

1.7

0.7

12.2

20.5

26.5

15.2

0.89

EQUITY – FLEXI CAP FUNDS

DSP Flexi Cap Fund

98.1

11154

1.7

0.7

11.4

16.7

23.4

13.7

0.71

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

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

288.2

4880

1.9

0.9

-0.3

25.7

34.7

15.4

0.91

EQUITY – SMALL CAP FUNDS

DSP Small Cap Fund

172.2

14269

1.7

0.9

2.0

14.9

32.5

15.9

0.84

EQUITY – FLEXI CAP FUNDS

Edelweiss Flexi Cap Fund

35.9

2419

2.0

0.5

8.3

17.6

25.0

14.1

0.79

EQUITY – LARGE & MID CAP FUNDS

Edelweiss Large & Mid Cap Fund

80.5

3608

1.9

0.4

8.4

16.6

25.0

13.8

0.79

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Franklin Build India Fund

131.4

2642

2.0

1.0

2.0

27.6

35.2

16.4

0.97

EQUITY – TAX SAVING (ELSS) FUNDS

Franklin India ELSS Tax Saver Fund

1411.6

6359

1.9

1.1

8.0

18.9

27.8

13.1

0.88

HYBRID – AGGRESSIVE HYBRID FUNDS

Franklin India Equity Hybrid Fund

260.6

2055

2.1

1.0

8.2

15.0

20.7

11.4

0.89

EQUITY – FOCUSED FUNDS

Franklin India Focused Equity Fund

101.8

11396

1.8

1.1

5.2

17.0

26.5

13.3

0.82

EQUITY – TAX SAVING (ELSS) FUNDS

HDFC ELSS Tax saver

1348.8

15556

1.7

1.1

12.5

22.6

28.6

13.2

1.11

HYBRID – EQUITY SAVINGS FUNDS

HDFC Equity Savings Fund

64.2

5430

1.9

0.9

6.1

10.0

13.5

9.5

1.04

HYBRID – AGGRESSIVE HYBRID FUNDS

HDFC Hybrid Equity Fund

114.1

23229

1.7

1.1

7.7

13.1

20.7

10.4

0.95

EQUITY – LARGE CAP FUNDS

HDFC Large Cap Fund

1099.1

36109

1.6

1.0

5.7

17.0

24.6

12.5

0.87

HYBRID – CONSERVATIVE HYBRID FUNDS

HSBC Conservative Hybrid Fund

59.8

146

2.2

1.4

9.8

9.5

9.9

7.5

0.68

EQUITY – FLEXI CAP FUNDS

HSBC Flexi Cap Fund

201.4

4547

2.0

1.2

7.0

16.3

24.4

12.2

0.70

EQUITY – LARGE CAP FUNDS

HSBC Large Cap Fund

451.9

1785

2.1

1.2

4.5

14.4

20.6

11.8

0.67

EQUITY – SMALL CAP FUNDS

HSBC Small Cap Fund

73.8

14493

1.7

0.7

-1.1

18.0

35.4

18.1

0.82

EQUITY – VALUE FUNDS

HSBC Value Fund

101.5

12600

1.7

0.8

6.4

21.6

30.3

15.8

0.92

EQUITY – SECTOR – BANKING FUNDS

ICICI Prudential Banking & Financial Services Fund

128.7

9008

1.8

1.1

17.0

16.7

25.2

13.7

0.70

EQUITY – TAX SAVING (ELSS) FUNDS

ICICI Pru Long Term Equity

889.8

13633

1.7

1.1

8.7

15.7

24.6

12.8

0.85

EQUITY – MID CAP FUNDS

ICICI Prudential Midcap Fund

261.8

5796

1.9

1.3

4.0

19.0

30.6

14.4

0.89

HYBRID – BALANCED ADVANTAGE FUNDS

Invesco India Balanced Advantage Fund

51.6

943

2.1

0.8

6.8

12.6

14.5

9.3

0.71

EQUITY – TAX SAVING (ELSS) FUNDS

Invesco India ELSS Tax Saver Fund

118.2

2638

1.9

0.8

7.6

15.0

22.2

13.1

0.65

EQUITY – LARGE & MID CAP FUNDS

Invesco India Large & Mid Cap Fund

90.0

6432

1.8

0.7

14.8

21.5

25.8

14.7

0.74

EQUITY – LARGE CAP FUNDS

Invesco India Largecap Fund

65.3

1329

2.1

0.8

7.9

15.5

22.3

12.3

0.72

EQUITY – MID CAP FUNDS

Invesco India Midcap Fund

156.7

5779

1.8

0.7

16.4

22.9

30.4

16.6

0.82

EQUITY – FOCUSED FUNDS

JM Focused Fund

18.6

247

2.4

0.7

0.1

17.9

22.1

12.6

0.63

EQUITY – TAX SAVING (ELSS) FUNDS

Kotak ELSS Tax Saver Fund

109.2

5863

1.8

0.7

2.7

15.8

24.2

13.7

0.78

EQUITY – FLEXI CAP FUNDS

Kotak Flexicap Fund

79.0

49130

1.5

0.6

6.7

15.7

22.6

13.6

0.75

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Kotak Infra & Economic Reform

58.8

2133

2.0

0.7

-2.4

22.3

32.2

14.7

0.84

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

LIC MF Infrastructure Fund

43.7

874

2.2

0.6

6.1

25.1

32.5

13.8

0.82

EQUITY – LARGE & MID CAP FUNDS

LIC MF Large & Midcap Fund

36.2

2859

1.9

0.6

10.2

15.0

23.6

14.1

0.75

EQUITY – SMALL CAP FUNDS

LIC MF Small Cap Fund

28.1

494

2.4

1.0

3.8

17.0

32.0

–

0.78

EQUITY – TAX SAVING (ELSS) FUNDS

Mahindra Manulife ELSS Tax Saver Fund

27.1

895

2.2

0.6

5.2

14.0

23.8

–

0.80

HYBRID – EQUITY SAVINGS FUNDS

Mahi Manu Eq Sav Dhan San Yojana

19.9

557

2.4

0.7

5.3

8.5

13.6

–

0.87

HYBRID – AGGRESSIVE HYBRID FUNDS

Mirae Asset Aggressive Hybrid Fund

30.6

8682

1.7

0.5

8.6

12.5

18.4

–

0.79

EQUITY – LARGE CAP FUNDS

Mirae Asset Large Cap Fund

106.8

37778

1.6

0.7

8.4

12.0

20.7

12.9

0.74

EQUITY – SECTOR – BANKING FUNDS

Nippon India Banking & Financial Services Fund

609.3

6566

1.9

1.0

15.9

19.9

29.9

13.4

0.79

EQUITY – FOCUSED FUNDS

Nippon India Focused Equity Fund

113.5

7922

1.9

1.2

7.3

13.7

26.2

13.2

0.86

EQUITY – TAX SAVING (ELSS) FUNDS

PGIM India ELSS Tax Saver Fund

33.3

741

2.3

0.8

8.8

12.4

23.6

–

0.82

EQUITY – LARGE CAP FUNDS

SBI Blue Chip Fund

87.9

49394

1.5

0.8

8.7

14.3

22.6

12.3

0.84

HYBRID – AGGRESSIVE HYBRID FUNDS

SBI Equity Hybrid Fund

286.9

72555

1.4

0.7

11.7

12.6

18.4

11.8

0.86

HYBRID – EQUITY SAVINGS FUNDS

SBI Equity Savings Fund

23.2

5671

1.4

0.9

7.4

10.1

13.7

–

0.92

EQUITY – FOCUSED FUNDS

SBI Focused Equity Fund

332.5

35253

1.6

0.8

10.5

13.5

21.5

14.0

0.75

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

SBI Infrastructure Fund

47.3

4681

1.9

1.0

-0.8

23.4

31.3

15.1

0.98

EQUITY – LARGE & MID CAP FUNDS

SBI Large & Midcap Fund

578.7

29416

1.6

0.8

8.8

16.4

26.9

14.4

0.97

EQUITY – MID CAP FUNDS

SBI Magnum Midcap Fund

223.8

20890

1.7

0.8

7.1

17.4

31.8

14.9

1.05

EQUITY – SMALL CAP FUNDS

SBI Small Cap Fund

161.4

30829

1.6

0.7

1.3

15.6

29.6

18.5

0.89

HYBRID – AGGRESSIVE HYBRID FUNDS

Sundaram Aggressive Hybrid Fund

155.7

5619

1.8

0.8

8.3

12.9

19.0

12.1

0.82

HYBRID – BALANCED ADVANTAGE FUNDS

Sundaram Balanced Advantage Fund

34.1

1491

2.1

0.7

7.5

11.0

11.8

7.6

0.62

EQUITY – FOCUSED FUNDS

Sundaram Focused Fund

152.2

1044

2.3

1.4

3.9

12.8

21.5

12.9

0.68

EQUITY – SECTOR – BANKING FUNDS

Tata Banking and Financial Services Fund

41.7

2548

2.0

0.5

16.9

20.1

23.2

–

0.65

EQUITY – VALUE FUNDS

Tata Equity P/E Fund

328.6

8004

1.7

0.7

3.5

19.4

25.1

14.0

0.86

HYBRID – EQUITY SAVINGS FUNDS

Tata Equity Savings Fund

54.1

265

1.1

0.5

9.1

9.5

11.4

7.2

1.08

EQUITY – THEMATIC – CONSUMPTION FUNDS

Tata India Consumer Fund

42.2

2208

2.0

0.8

10.3

18.0

22.6

–

0.65

EQUITY – LARGE & MID CAP FUNDS

Tata Large & Mid Cap Fund

500.4

8058

1.7

0.6

5.2

16.5

23.6

13.1

0.86

EQUITY – LARGE CAP FUNDS

Tata Large Cap Fund

480.0

2453

2.1

1.0

5.8

14.3

22.7

11.6

0.81

EQUITY – MID CAP FUNDS

Tata Mid Cap Growth Fund

395.8

4333

1.9

0.7

2.9

18.6

28.0

14.8

0.85

EQUITY – MID CAP FUNDS

Taurus Mid Cap Fund

111.7

114

2.5

2.2

-4.5

14.9

23.9

14.3

0.66

EQUITY – VALUE FUNDS

Templeton India Value Fund

685.4

2079

2.1

1.3

4.0

19.1

31.9

14.3

1.05

EQUITY – TAX SAVING (ELSS) FUNDS

Union ELSS Tax Saver Fund

60.1

860

2.3

1.4

3.2

14.0

23.6

11.3

0.79

EQUITY – SMALL CAP FUNDS

Union Small Cap Fund

43.2

1444

2.2

1.0

-0.3

14.2

30.1

13.5

0.74

HYBRID – AGGRESSIVE HYBRID FUNDS

UTI Aggressive Hybrid Fund

388.9

5910

1.9

1.2

10.5

16.9

23.3

12.0

1.05

HYBRID – CONSERVATIVE HYBRID FUNDS

UTI Conservative Hybrid Fund

68.3

1648

1.8

1.2

11.2

9.9

12.4

8.3

1.18

EQUITY – TAX SAVING (ELSS) FUNDS

UTI ELSS Tax Saver Fund

195.0

3593

1.9

0.9

6.7

12.3

22.0

11.8

0.70

EQUITY – LARGE & MID CAP FUNDS

UTI Large & Mid Cap Fund

168.5

4101

1.9

0.9

11.0

21.2

29.6

13.3

0.98

EQUITY – LARGE CAP FUNDS

UTI Large Cap Fund

263.1

12180

1.8

0.9

7.5

12.0

20.8

11.4

0.72

EQUITY – MID CAP FUNDS

UTI Mid Cap Fund

273.6

10649

1.8

0.9

4.6

15.0

27.4

13.5

0.77

EQUITY – VALUE FUNDS

UTI Value Fund

158.8

9455

1.8

1.1

12.8

18.2

25.7

12.8

0.90

HYBRID – AGGRESSIVE HYBRID FUNDS

Aditya Birla Sun Life Equity Hybrid ’95 Fund

1444.5

7193

1.9

1.1

7.6

10.7

18.9

10.2

0.75

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Aditya Birla Sun Life Infrastructure Fund

86.5

1060

2.3

1.5

-2.8

21.0

31.2

12.8

0.80

EQUITY – LARGE CAP FUNDS

Axis Bluechip Fund

58.5

32349

1.6

0.7

6.4

10.8

16.8

12.0

0.53

HYBRID – AGGRESSIVE HYBRID FUNDS

Bandhan Aggressive Hybrid Fund

24.3

819

2.3

1.0

11.1

13.6

20.4

–

0.80

EQUITY – FLEXI CAP FUNDS

Bandhan Flexi Cap Fund

195.9

6886

1.9

1.2

6.9

14.4

21.1

10.6

0.70

HYBRID – BALANCED ADVANTAGE FUNDS

Bank of India Balanced Advantage Fund

23.9

132

2.3

1.2

0.2

9.6

12.0

7.0

0.53

EQUITY – LARGE & MID CAP FUNDS

BOI Large & Mid Cap Equity Fund

82.1

362

2.3

1.1

15.8

22.8

11.6

0.69

EQUITY – SECTOR – BANKING FUNDS

Baroda BNP Paribas Bank&Fin Serv

46.3

238

2.4

0.9

15.7

18.3

22.4

11.4

0.58

HYBRID – EQUITY SAVINGS FUNDS

DSP Equity Savings Fund

21.6

2517

1.3

0.4

11.3

10.3

13.2

–

1.24

EQUITY – FOCUSED FUNDS

DSP Focus Fund

52.2

2447

2.0

1.0

13.9

18.0

22.9

11.9

0.77

EQUITY – MID CAP FUNDS

DSP Midcap Fund

133.1

17204

1.7

0.7

8.5

15.7

22.6

14.2

0.65

HYBRID – CONSERVATIVE HYBRID FUNDS

DSP Regular Savings Fund

57.9

164

1.1

0.5

11.0

9.7

10.5

7.2

1.07

EQUITY – TAX SAVING (ELSS) FUNDS

Edelweiss Long Term Equity

103.2

384

2.3

0.7

6.5

14.8

22.3

11.4

0.71

EQUITY – LARGE CAP FUNDS

Franklin India Bluechip Fund

973.5

7343

1.9

1.2

9.4

13.5

22.0

10.8

0.74

HYBRID – CONSERVATIVE HYBRID FUNDS

Franklin India Debt Hybrid Fund

89.0

198

1.4

0.7

9.1

9.6

9.9

7.5

0.93

EQUITY – MID CAP FUNDS

Franklin India Prima Fund

2554.0

11443

1.8

1.1

12.9

21.7

28.3

14.7

0.81

EQUITY – SMALL CAP FUNDS

Franklin India Smaller Companies Fund

158.2

11970

1.8

1.0

-0.7

21.1

34.5

15.4

0.86

EQUITY – SMALL CAP FUNDS

HDFC Small Cap Fund

124.0

30223

1.6

0.9

-1.2

19.5

34.5

17.1

0.91

EQUITY – VALUE FUNDS

HDFC Value Fund

696.2

6806

1.9

1.1

8.7

18.1

26.9

13.4

0.89

HYBRID – AGGRESSIVE HYBRID FUNDS

HSBC Aggressive Hybrid Fund

50.4

5022

1.9

0.9

2.8

11.8

17.3

10.2

0.56

EQUITY – TAX SAVING (ELSS) FUNDS

HSBC ELSS Tax saver Fund

124.2

3871

1.9

1.1

8.9

17.4

23.8

13.0

0.70

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

HSBC Infrastructure Fund

43.4

2229

2.1

1.0

0.9

22.5

31.1

15.0

0.79

EQUITY – MID CAP FUNDS

HSBC Midcap Fund

344.6

10362

1.7

0.7

4.8

19.9

26.5

15.2

0.68

HYBRID – EQUITY SAVINGS FUNDS

ICICI Prudential Equity Savings Fund

22.1

12855

1.0

0.5

8.6

8.3

11.0

8.0

1.34

EQUITY – THEMATIC – CONSUMPTION FUNDS

ICICI Prudential FMCG Fund

475.6

1855

2.2

1.4

4.6

12.6

16.8

11.5

0.59

EQUITY – SECTOR – BANKING FUNDS

LIC MF Banking & Financial Services Fund

19.9

254

2.4

1.1

5.0

14.8

20.1

7.3

0.54

EQUITY – TAX SAVING (ELSS) FUNDS

LIC MF ELSS Tax Saver

146.7

1088

2.2

1.0

12.4

15.1

21.9

11.6

0.74

EQUITY – FLEXI CAP FUNDS

LIC MF Flexi Cap Fund

88.8

920

2.3

1.3

0.3

12.0

16.9

8.3

0.51

EQUITY – LARGE CAP FUNDS

LIC MF Large Cap Fund

53.7

1379

2.1

1.0

7.7

11.1

18.4

10.3

0.60

HYBRID – BALANCED ADVANTAGE FUNDS

Motilal Oswal Balanced Advantage Fund

18.1

918

2.3

1.0

-9.1

6.7

9.4

–

0.25

EQUITY – FOCUSED FUNDS

Motilal Oswal Focused Fund

38.7

1401

2.2

1.0

-10.1

8.1

14.5

9.5

0.37

EQUITY – LARGE & MID CAP FUNDS

Navi Large & Midcap Fund

33.3

295

2.3

0.4

8.3

11.7

23.0

–

0.73

EQUITY – LARGE & MID CAP FUNDS

Nippon India Vision Fund

1379.9

5467

2.0

1.3

10.4

20.1

27.9

12.2

0.90

EQUITY – TAX SAVING (ELSS) FUNDS

Quantum ELSS Tax Saver Fund

119.9

209

2.0

0.9

9.5

18.1

25.0

12.3

0.98

EQUITY – VALUE FUNDS

Quantum Long Term Equity Value Fund

120.8

1123

2.0

1.1

9.8

18.2

25.2

12.3

0.97

EQUITY – FLEXI CAP FUNDS

SBI Flexicap Fund

103.5

21035

1.7

0.9

4.3

11.8

21.4

12.6

0.75

EQUITY – SECTOR – IT FUNDS

SBI Technology Opportunities Fund

196.3

4203

1.9

0.9

13.1

12.3

27.5

15.8

0.77

EQUITY – TAX SAVING (ELSS) FUNDS

Sundaram ELSS Tax Saver Fund

482.7

1288

2.3

1.7

5.9

14.6

24.3

13.5

0.84

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Sundaram Infrastructure Advantage Fund

86.8

882

2.5

2.3

0.3

19.5

30.0

13.4

0.84

EQUITY – LARGE & MID CAP FUNDS

Sundaram Large and Mid Cap Fund

80.1

6381

1.8

0.9

6.8

14.6

23.9

13.7

0.73

EQUITY – MID CAP FUNDS

Sundaram Mid Cap Fund

1261.2

11333

1.7

0.9

11.5

22.2

29.5

14.6

0.84

EQUITY – TAX SAVING (ELSS) FUNDS

Tata ELSS Tax Saver Fund

41.6

4335

1.7

0.6

6.7

15.0

23.0

13.8

0.76

HYBRID – AGGRESSIVE HYBRID FUNDS

Tata Hybrid Equity Fund

419.4

3936

1.9

1.0

5.1

12.4

18.6

9.7

0.80

EQUITY – LARGE CAP FUNDS

Union Largecap Fund

22.4

432

2.5

1.3

1.7

12.2

20.5

–

0.70

EQUITY – DIVIDEND YIELD FUNDS

UTI Dividend Yield Fund

167.1

3855

2.0

1.4

11.8

17.8

25.5

13.4

0.88

EQUITY – FLEXI CAP FUNDS

UTI Flexi Cap Fund

310.8

24532

1.7

1.1

13.6

9.2

20.5

12.1

0.60

EQUITY – THEMATIC – CONSUMPTION FUNDS

UTI India Consumer Fund

54.8

651

2.5

1.5

5.7

13.6

19.0

10.7

0.57

EQUITY – TAX SAVING (ELSS) FUNDS

Aditya Birla Sun Life ELSS Tax Saver Fund

56.0

14462

1.7

1.0

6.2

12.0

16.1

10.2

0.54

EQUITY – LARGE & MID CAP FUNDS

Aditya Birla Sun Life Equity Advantage Fund

835.7

5410

1.9

1.2

3.5

10.3

21.1

11.6

0.57

HYBRID – EQUITY SAVINGS FUNDS

Aditya Birla Sun Life Equity Savings Fund

21.5

632

1.1

0.6

7.8

7.9

11.0

7.6

0.68

EQUITY – MID CAP FUNDS

Aditya Birla Sun Life Midcap Fund

723.6

5502

1.9

1.1

6.5

16.4

28.7

13.3

0.83

EQUITY – VALUE FUNDS

Aditya Birla Sun Life Pure Value Fund

115.3

5791

1.9

1.1

-1.3

16.9

26.5

12.0

0.72

EQUITY – SMALL CAP FUNDS

Aditya Birla Sun Life Small Cap Fund

77.7

4416

1.9

1.0

-0.6

14.7

29.0

12.7

0.71

EQUITY – TAX SAVING (ELSS) FUNDS

Axis ELSS Tax Saver Fund

92.3

34176

1.5

0.8

7.4

11.1

18.2

11.9

0.50

EQUITY – FOCUSED FUNDS

Axis Focused Fund

52.4

12347

1.7

0.8

5.2

7.7

16.4

12.0

0.45

HYBRID – CONSERVATIVE HYBRID FUNDS

Bandhan Conservative Hybrid Fund

31.7

115

2.0

1.0

9.2

7.2

7.8

6.7

0.62

EQUITY – FOCUSED FUNDS

Bandhan Focused Equity Fund

81.3

1685

2.1

0.9

11.0

16.1

22.0

11.5

0.67

EQUITY – LARGE CAP FUNDS

DSP Top 100 Equity Fund

462.0

5070

1.9

1.0

14.6

19.4

22.9

11.6

0.86

EQUITY – LARGE & MID CAP FUNDS

Franklin India Equity Advantage Fund

177.0

3273

2.1

1.4

10.3

14.6

25.7

11.2

0.80

EQUITY – SECTOR – IT FUNDS

Franklin India Technology Fund

468.5

1754

2.1

1.0

1.8

15.0

25.7

15.7

0.71

EQUITY – LARGE CAP FUNDS

Groww Largecap Fund

40.2

120

2.4

1.0

1.7

13.2

18.8

11.0

0.61

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

HDFC Infrastructure Fund

44.2

2329

2.0

1.0

0.2

28.3

35.2

10.4

0.93

HYBRID – AGGRESSIVE HYBRID FUNDS

LIC MF Aggressive Hybrid Fund

184.9

497

2.5

1.4

6.1

11.9

15.0

8.0

0.58

EQUITY – MID CAP FUNDS

LIC MF Midcap Fund

26.6

302

2.5

1.3

8.0

17.3

26.3

–

0.71

EQUITY – FLEXI CAP FUNDS

Motilal Oswal Flexi Cap Fund

57.0

12267

1.7

0.9

14.4

21.2

22.9

13.4

0.63

EQUITY – TAX SAVING (ELSS) FUNDS

Nippon India ELSS Tax Saver Fund

121.7

14392

1.7

1.0

6.5

17.3

26.0

10.1

0.82

HYBRID – AGGRESSIVE HYBRID FUNDS

Nippon India Equity Hybrid Fund

99.7

3688

2.0

1.1

7.3

15.1

21.7

9.8

0.93

HYBRID – EQUITY SAVINGS FUNDS

Nippon India Equity Savings Fund

15.7

692

1.8

0.7

5.6

8.4

10.6

–

0.84

HYBRID – CONSERVATIVE HYBRID FUNDS

Nippon India Hybrid Bond Fund

56.5

835

1.9

1.1

8.2

8.3

8.9

5.4

1.17

EQUITY – LARGE CAP FUNDS

PGIM India Large Cap Fund

325.7

569

2.4

0.9

5.3

12.0

18.6

10.2

0.64

EQUITY – THEMATIC – CONSUMPTION FUNDS

Sundaram Consumption Fund

93.5

1445

2.2

1.3

11.6

18.4

22.5

14.2

0.73

EQUITY – DIVIDEND YIELD FUNDS

Sundaram Dividend Yield Fund

130.3

863

2.3

1.2

2.7

15.8

23.5

14.1

0.85

EQUITY – SMALL CAP FUNDS

Sundaram Small Cap Fund

234.3

2955

2.0

0.9

1.2

17.6

32.5

13.1

0.83

EQUITY – FLEXI CAP FUNDS

Taurus Flexi Cap Fund

214.7

338

2.6

1.4

12.9

20.2

9.0

0.63

EQUITY – SECTOR – BANKING FUNDS

UTI Banking and Financial Services Fund

183.5

1211

2.2

1.1

16.0

18.2

24.9

11.0

0.66

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

UTI Infrastructure Fund

134.1

2097

2.2

1.8

1.4

20.8

27.6

12.1

0.81

HYBRID – BALANCED ADVANTAGE FUNDS

UTI-Unit Linked Insurance Plan

41.3

5352

1.6

1.0

13.1

8.8

12.6

8.0

0.78

EQUITY – THEMATIC – MNC FUNDS

Aditya Birla Sun Life MNC Fund

–

1222.4

3371

2.0

1.4

1.7

9.4

12.9

7.8

0.41

HYBRID – AGGRESSIVE HYBRID FUNDS

Axis Aggressive Hybrid Fund

–

19.7

1521

2.2

1.1

10.2

9.7

16.3

–

0.61

HYBRID – BALANCED ADVANTAGE FUNDS

Axis Balanced Advantage Fund

–

20.4

2808

2.0

0.8

12.6

14.0

14.3

–

0.83

EQUITY – FLEXI CAP FUNDS

Axis Flexi Cap Fund

–

25.0

12040

1.7

0.7

8.3

12.0

18.5

–

0.54

EQUITY – LARGE & MID CAP FUNDS

Axis Growth Opportunities Fund

–

30.7

13321

1.7

0.6

8.6

14.5

25.2

–

0.72

HYBRID – EQUITY SAVINGS FUNDS

Bandhan Equity Savings Fund

–

30.7

272

1.1

0.2

7.4

7.6

9.9

6.6

1.17

HYBRID – CONSERVATIVE HYBRID FUNDS

Bank of India Conservative Hybrid Fund

–

33.4

2.1

1.1

3.5

7.0

12.3

7.5

1.08

EQUITY – SMALL CAP FUNDS

Bank of India Small Cap Fund

–

43.1

1574

2.0

0.5

4.1

18.8

34.8

–

0.83

HYBRID – BALANCED ADVANTAGE FUNDS

Baroda BNP Paribas Balanced Advantage Fund

–

23.0

4073

1.9

0.8

6.1

13.1

17.5

–

0.81

EQUITY – FOCUSED FUNDS

Baroda BNP Paribas Focused Fund

–

20.8

634

2.3

0.5

1.2

13.6

20.1

–

0.58

EQUITY – THEMATIC – CONSUMPTION FUNDS

Baroda BNP Paribas India Consumption Fund

–

30.5

1369

2.1

0.7

10.1

16.9

22.1

–

0.69

EQUITY – MULTI CAP FUNDS

Baroda BNP Paribas Multi Cap Fund

–

267.5

2616

2.0

1.0

5.4

17.0

27.1

13.4

0.78

EQUITY – SMALL CAP FUNDS

Canara Robeco Small Cap Fund

–

35.3

11087

1.7

0.5

1.3

13.4

34.2

–

0.92

EQUITY – SECTOR – PHARMA FUNDS

DSP Healthcare Fund

–

37.3

3019

1.9

0.6

14.9

19.9

24.0

–

0.84

HYBRID – AGGRESSIVE HYBRID FUNDS

Edelweiss Aggressive Hybrid Fund

–

60.5

2487

1.9

0.4

9.5

16.7

22.0

12.2

0.99

EQUITY – SMALL CAP FUNDS

Edelweiss Small Cap Fund

–

40.0

4064

1.8

0.4

4.3

18.3

34.3

–

0.94

HYBRID – EQUITY SAVINGS FUNDS

Franklin India Equity Savings Fund

–

16.1

637

1.1

0.4

7.3

8.2

11.6

–

0.84

HYBRID – AGGRESSIVE HYBRID FUNDS

Groww Aggressive Hybrid Fund

–

20.0

2.3

0.9

3.2

11.9

17.1

–

0.68

EQUITY – TAX SAVING (ELSS) FUNDS

Groww ELSS Tax Saver Fund

–

18.3

2.3

0.6

-0.9

12.5

18.3

–

0.58

EQUITY – VALUE FUNDS

Groww Value Fund

–

25.4

2.3

0.9

4.8

15.3

22.3

–

0.76

HYBRID – BALANCED ADVANTAGE FUNDS

HDFC Balanced Advantage Fund

–

498.7

94824

1.4

0.9

7.4

19.7

25.9

14.3

1.14

EQUITY – LARGE & MID CAP FUNDS

HSBC Large & Mid Cap Fund

–

24.1

3769

1.9

0.9

3.5

16.5

24.2

–

0.61

EQUITY – TAX SAVING (ELSS) FUNDS

HSBC Tax Saver Equity Fund

–

88.1

227

2.5

1.6

11.6

17.5

24.5

13.0

0.71

EQUITY – MULTI CAP FUNDS

ICICI Prudential Multicap Fund

–

751.5

13938

1.8

1.0

7.9

20.1

27.8

14.4

0.92

EQUITY – SECTOR – PHARMA FUNDS

ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund

–

37.1

4915

1.9

1.2

21.0

24.2

24.9

–

0.94

EQUITY – SMALL CAP FUNDS

ICICI Prudential Smallcap Fund

–

79.4

7392

1.8

0.9

16.1

33.6

14.2

1.01

HYBRID – AGGRESSIVE HYBRID FUNDS

Invesco India Aggressive Hybrid Fund

–

21.6

618

2.4

0.8

10.7

15.6

18.6

–

0.71

EQUITY – CONTRA FUNDS

Invesco India Contra Fund

–

127.3

17265

1.7

0.6

11.9

19.7

26.2

15.5

0.85

HYBRID – EQUITY SAVINGS FUNDS

Invesco India Equity Savings Fund

–

16.4

399

2.3

0.7

8.3

10.0

10.4

–

0.61

EQUITY – MULTI CAP FUNDS

Invesco India Multicap Fund

–

122.3

3651

1.9

0.7

8.5

17.6

25.5

13.4

0.73

EQUITY – SMALL CAP FUNDS

Invesco India Smallcap Fund

–

37.7

5885

1.8

0.4

9.9

22.3

33.9

–

0.85

HYBRID – BALANCED ADVANTAGE FUNDS

Kotak Balanced Advantage Fund

–

19.8

16542

1.7

0.6

9.8

11.6

15.4

–

0.95

EQUITY – CONTRA FUNDS

Kotak India EQ Contra Fund

–

139.6

3935

1.9

0.6

5.6

19.8

27.0

14.7

0.91

HYBRID – CONSERVATIVE HYBRID FUNDS

LIC MF Conservative Hybrid Fund

–

80.4

2.3

1.2

8.3

6.5

7.1

6.3

0.56

EQUITY – DIVIDEND YIELD FUNDS

LIC MF Dividend Yield Fund

–

28.7

490

2.4

0.7

9.9

19.4

25.5

–

0.80

HYBRID – EQUITY SAVINGS FUNDS

LIC MF Equity Savings Fund

–

26.8

2.3

1.3

7.9

8.8

11.0

6.7

0.64

EQUITY – FOCUSED FUNDS

LIC MF Focused Fund

–

20.4

127

2.5

1.6

7.7

11.5

20.0

–

0.64

EQUITY – SECTOR – PHARMA FUNDS

LIC MF Healthcare Fund

–

28.0

2.5

1.2

16.3

17.2

–

0.64

EQUITY – VALUE FUNDS

LIC MF Value Fund

–

22.2

149

2.4

1.0

1.5

12.7

21.7

–

0.61

EQUITY – THEMATIC – CONSUMPTION FUNDS

Mahindra Manulife Consumption Fund

–

21.5

446

2.4

0.7

4.4

16.3

21.3

–

0.68

EQUITY – LARGE CAP FUNDS

Mahindra Manulife Large Cap Fund

–

22.3

611

2.4

0.7

7.4

13.6

21.6

–

0.76

EQUITY – MID CAP FUNDS

Mahindra Manulife Mid Cap Fund

–

30.7

3398

1.9

0.5

5.3

21.3

30.4

–

0.84

EQUITY – MULTI CAP FUNDS

Mahindra Manulife Multi Cap Fund

–

32.8

4883

1.8

0.4

4.5

16.8

28.1

–

0.80

HYBRID – EQUITY SAVINGS FUNDS

Mirae Asset Equity Savings Fund

–

19.6

1360

1.4

0.4

9.0

10.4

14.2

–

1.04

EQUITY – SECTOR – PHARMA FUNDS

Mirae Asset Healthcare Fund

–

36.4

2667

2.0

0.6

16.8

18.2

22.2

–

0.80

HYBRID – AGGRESSIVE HYBRID FUNDS

Navi Aggressive Hybrid Fund

–

19.4

116

2.3

0.4

6.6

11.5

16.6

–

0.71

EQUITY – TAX SAVING (ELSS) FUNDS

Navi ELSS Tax Saver Fund

–

27.6

2.3

0.4

4.9

11.7

19.8

–

0.64

EQUITY – FLEXI CAP FUNDS

Navi Flexi Cap Fund

–

21.1

241

2.3

0.4

2.1

11.2

20.1

–

0.66

HYBRID – BALANCED ADVANTAGE FUNDS

Nippon India Balanced Advantage Fund

–

170.9

8808

1.8

0.6

7.9

12.6

15.8

9.9

0.98

EQUITY – THEMATIC – CONSUMPTION FUNDS

Nippon India Consumption Fund

–

193.1

2183

2.0

0.6

9.0

19.8

27.6

14.6

0.90

EQUITY – MULTI CAP FUNDS

Nippon India Multi Cap Fund

–

274.9

38637

1.6

0.8

5.6

22.8

32.4

14.3

0.94

EQUITY – SECTOR – PHARMA FUNDS

Nippon India Pharma Fund

–

493.2

8081

1.8

0.9

15.5

20.0

22.1

14.0

0.80

HYBRID – EQUITY SAVINGS FUNDS

PGIM India Equity Savings Fund

–

48.5

1.3

0.5

7.0

6.7

9.8

7.3

1.24

HYBRID – AGGRESSIVE HYBRID FUNDS

PGIM India Hybrid Equity Fund

–

125.1

204

2.3

0.8

9.2

11.7

16.7

8.3

0.62

EQUITY – MULTI CAP FUNDS

Quant Active Fund

–

592.7

9389

1.8

0.6

-10.5

11.8

30.9

17.1

0.81

EQUITY – FLEXI CAP FUNDS

Quant Flexi Cap Fund

–

93.7

6712

1.8

0.6

-4.6

17.4

34.7

18.5

0.93

EQUITY – CONTRA FUNDS

SBI Contra Fund

–

365.3

42220

1.5

0.6

4.1

21.4

35.6

15.5

1.31

EQUITY – SECTOR – PHARMA FUNDS

SBI Healthcare Opportunities Fund

–

416.7

3611

1.9

0.9

21.0

23.7

24.4

12.0

0.91

EQUITY – THEMATIC – MNC FUNDS

SBI Magnum Global Fund

–

345.4

5973

1.9

1.2

1.7

10.0

16.2

10.2

0.56

HYBRID – AGGRESSIVE HYBRID FUNDS

Shriram Aggressive Hybrid Fund

–

30.3

2.4

0.9

-0.8

10.7

15.3

8.9

0.57

EQUITY – TAX SAVING (ELSS) FUNDS

Shriram ELSS Tax Saver Fund

–

20.2

2.3

0.8

-5.7

10.8

16.9

–

0.46

EQUITY – FLEXI CAP FUNDS

Shriram Flexi Cap Fund

–

19.4

133

2.4

0.8

-7.3

11.3

17.8

–

0.48

HYBRID – CONSERVATIVE HYBRID FUNDS

Sundaram Conservative Hybrid Fund

–

29.6

2.2

1.5

8.8

8.0

9.8

7.1

0.99

EQUITY – TAX SAVING (ELSS) FUNDS

Sundaram Diversified Equity

–

209.5

1428

2.2

1.7

6.7

13.3

22.6

11.5

0.79

EQUITY – MULTI CAP FUNDS

Sundaram Multi Cap Fund

–

353.3

2615

2.0

1.0

6.9

15.0

25.8

14.3

0.81

HYBRID – BALANCED ADVANTAGE FUNDS

Tata Balanced Advantage Fund

–

19.8

10075

1.6

0.4

4.8

10.8

14.9

–

1.00

EQUITY – FLEXI CAP FUNDS

Tata Flexi Cap Fund

–

23.2

2967

2.0

0.7

10.8

14.7

20.4

–

0.71

EQUITY – SECTOR – PHARMA FUNDS

Tata India Pharma & Healthcare Fund

–

29.2

1184

2.2

0.7

16.6

20.3

21.6

–

0.78

EQUITY – SMALL CAP FUNDS

Tata Small Cap Fund

–

36.7

9203

1.7

0.3

3.9

20.5

35.0

–

0.93

EQUITY – SECTOR – BANKING FUNDS

Taurus Banking & Financial Services Fund

–

52.4

2.3

1.6

8.8

16.5

21.8

11.8

0.59

EQUITY – TAX SAVING (ELSS) FUNDS

Taurus ELSS Tax Saver Fund

–

177.0

2.5

2.3

6.7

16.7

22.1

12.7

0.80

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Taurus Infrastructure Fund

–

62.1

2.5

2.4

-3.6

16.5

25.0

13.1

0.69

EQUITY – LARGE CAP FUNDS

Taurus Large Cap Fund

–

149.8

2.6

2.3

3.3

13.7

20.1

9.3

0.61

HYBRID – BALANCED ADVANTAGE FUNDS

Union Balanced Advantage Fund

–

19.5

1365

2.2

0.9

5.6

9.7

14.0

–

0.90

HYBRID – EQUITY SAVINGS FUNDS

Union Equity Savings Fund

–

16.4

136

2.0

1.5

5.6

7.8

9.8

–

0.78

EQUITY – VALUE FUNDS

Union Value Fund

–

26.1

292

2.5

1.1

5.1

16.9

25.1

–

0.85

HYBRID – EQUITY SAVINGS FUNDS

UTI Equity Savings Fund

–

18.0

668

1.6

0.4

7.8

11.0

13.3

–

1.13

EQUITY – SECTOR – PHARMA FUNDS

UTI Healthcare Fund

–

268.4

1042

2.3

1.2

20.0

20.2

21.6

11.1

0.77

EQUITY – THEMATIC – MNC FUNDS

UTI MNC Fund

–

358.2

2640

2.0

1.2

0.6

11.7

15.7

9.5

0.54

Source link

ICICI Pru Bluechip, Motilal Oswal Midcap, Parag Parikh Flexi Cap, HDFC Flexi Cap, Quant Small Cap, Nippon India Small Cap: Top funds from respective categories that delivered better returns in 10-year SIP

by Hansraj Agrawal | Apr 21, 2025 | Share Market

Systematic Investment Plans (SIPs) have long served as a reliable method for investors to access equity markets through mutual funds. Historically, SIPs in well-managed equity-oriented schemes have generated strong long-term returns. However, recent data indicates a shift in investor behaviour. According to AMFI, in March alone, 51.55 lakh SIPs were discontinued or completed, while only 40.19 lakh new SIPs were registered during the same period. This trend suggests a growing hesitation among investors.

A key reason behind this reversal is the recent market volatility, which has particularly impacted younger investors. Many of them began SIPs during the bullish period following 2020, assuming such high returns would continue. Confronted with their first major market correction, they responded emotionally, influenced by recency bias and a lack of exposure to full market cycles.

Do not stop your SIP

Moreover, limited financial literacy contributes to misconceptions about investing. Many fail to grasp that short-term fluctuations are a natural part of the market and that enduring them is essential for long-term wealth creation. Rather than reacting to temporary dips, investors should stay on the course. Continuing SIP investments through market ups and downs is often the most effective strategy to build wealth over time.

The accompanying table illustrates the advantages of staying invested in SIPs without being concerned by short-term market fluctuations.

Published on April 21, 2025

Source link

Multi-Asset Mutual Funds Are Not All The Same

by Hansraj Agrawal | Apr 19, 2025 | Share Market

Multi-Asset Allocation Funds (MAAF) have surged in popularity over the last 15-18 months, outperforming many equity and hybrid categories. Currently, 28 funds in this category aim to deliver portfolio diversification across asset classes. While the common objective is to balance risk and returns, their investment approaches vary widely in terms of asset allocation strategies and risk profile.

These are some of the variations that investors need to watch out for:

No equity allocation

All funds in the category mandatorily allocate to unhedged equities except the Edelweiss Multi Asset Allocation Fund. It is a debt-oriented fund employing arbitrage positions in equities, gold, and silver along with accrual income from fixed-income instruments. This fund generates returns similar to debt and arbitrage funds. Over the last one year, it delivered 8.9 per cent while arbitrage and short duration funds categories clocked an average return of 7 per cent and 9 per cent respectively.

Exposure to gold and silver derivatives

While most funds allocate to gold ETFs or physical gold, funds like Edelweiss Multi Asset Allocation, WhiteOak Capital Multi Asset Allocation, ICICI Pru Multi-Asset and Tata Multi Asset Opportunities Fund prefer taking positions through commodity derivatives. Gold and silver derivatives offer leverage and flexibility with lower capital requirements than ETFs in India. WhiteOak Capital Multi Asset Allocation and Tata Multi Asset Opportunities delivered an annualised return of 16 per cent and 8 per cent over the last one year.

Exposure to crude oil, copper, zinc and aluminium commodities

Tata Multi Asset Opportunities Fund stands unique in the industry by investing also in crude oil, copper, zinc, and aluminium through exchange-traded commodity derivatives. It maintains an overall commodity allocation ranging from 10 to 20 per cent of the portfolio. ICICI Pru Multi-Asset has too allocated less than one percent to copper derivatives. This may allow investors to take advantage of gains in these industrial commodities to which they may not have direct access. Tata Multi Asset has a five-year track record, delivering an average one-year rolling return of 18 per cent since inception, with the lowest return being 1 per cent.

Allocation to overseas equities

Seven funds in the category allocate to overseas equities, adding another layer of diversification. Funds with higher overseas allocations include Invesco India Multi Asset Allocation (17 per cent), DSP Multi Asset Allocation (15 per cent), and Nippon India Multi Asset Allocation Fund (10 per cent). While Invesco India Multi Asset primarily allocates to US equities, DSP Multi Asset Allocation and Nippon India Multi Asset Allocation offer exposure across global markets. DSP Multi Asset Allocation and Nippon India Multi Asset Allocation posted annualised returns of 12 per cent and 10.5 per cent, respectively, over the past year. Invesco India Multi Asset Allocation, on the other hand, has been in operation for less than a year.

Allocation across seven assets

Three funds provide well-diversified exposure by allocating to as many asset classes as permissible for the industry. WhiteOak Capital Multi Asset Allocation, ICICI Pru Multi-Asset, and Aditya Birla SL Multi Asset Allocation Fund have invested across seven assets: domestic equities, arbitrage positions, debt, gold, silver, overseas equities, REITs & InvITs. Among these schemes, ICICI Pru Multi-Asset stands out with a long track record, having delivered annualised returns of 25 per cent over the past five years.

Mid & small-cap heavy equity portfolio

Some funds focus heavily on mid and small-cap stocks. The top three funds with higher exposure to this segment are Motilal Oswal Multi Asset (31 per cent), LIC MF Multi Asset Allocation (30 per cent), and HSBC Multi Asset Allocation Fund (27 per cent), compared to the category average of 15 per cent. This may lead higher equity returns than for peers but with higher volatility and downside risks. This was evident in their performance during the recent market downturn, with Motilal Oswal Multi Asset posting a negative return of 9 per cent and HSBC Multi Asset Allocation managing only a 4 per cent return over the past year. LIC MF Multi Asset Allocation, however, has a track record of less than a year.

Higher exposure to unhedged equities

Currently, 16 funds invest at least 65 per cent in equities. UTI Multi Asset Allocation and Sundaram Multi Asset Allocation Fund have consistently maintained unhedged equity levels above 65 per cent. Conversely, Motilal Oswal Multi Asset and Quant Multi Asset fund demonstrate dynamic asset allocation practices. UTI and Sundaram Multi Asset Allocation returned 8 per cent and 12 per cent annually over the past year.

Silver over gold

Some funds prefer silver over gold. According to latest portfolio data, Kotak Multi Asset Allocation, Mahindra Manulife Multi Asset Allocation, and Quant Multi Asset hold higher allocations in silver than gold. Silver functions more as an industrial commodity than a safe haven and may add higher volatility along with return potential to the portfolio. Over the last one year, Kotak Multi Asset Allocation, Mahindra Manulife Multi Asset Allocation and Quant Multi Asset delivered 7 per cent, 10 per cent and 3 per cent respectively.

Published on April 19, 2025

Source link

Why this Value Fund Can Be Healthy Investment For The Long Term

by Hansraj Agrawal | Apr 19, 2025 | Share Market

The persistent fall in the markets from September 2024 to March 2025 has finally brought some semblance of comfort in valuations. With large, mid and small-cap indices having fallen 15-26 per cent from the peak, before slowly rallying in recent weeks, PE multiples have fallen across the board.

However, the continuing uncertainties on US trade tariffs with too much back and forth on announcements, volatile currency dynamics, questions on global growth and persisting geopolitical tensions mean that markets may continue to be choppy for a while.

Anchoring your portfolio to carefully chosen value names and quality picks can help stem the volatility and deliver over the long term.

Tata Equity P/E fund is a good choice for value investors wishing to create wealth over the long term of 7-10 years.

The fund invests at least 70 per cent of its assets in companies whose rolling PE ratios based on the past four quarters’ earnings are less than the rolling P/E of the BSE Sensex stocks.

Tata Equity P/E has a track record of almost 21 years and has delivered healthy above-average returns over this period. Investments can be made via the SIP route to average costs and ride out market volatility.

Proven performer

The scheme’s performance over the past couple of decades has been healthy. It has delivered 18.1 per cent compounded annually from its inception in June 2024.

When five-year rolling returns over the past the period January 2013 to April 2025 are considered, Tata Equity P/E has delivered mean returns of 16.1 per cent. Its benchmark Nifty 500 TRI has managed average returns of 14.1 per cent over the same timeframe.

Also, in the aforementioned 12-year period, on a 5-year rolling basis, the scheme has beaten its benchmark nearly 69 per cent of the time, which is quite robust. It has delivered more than 12 per cent nearly 68 per cent of the time over this period and more than 15 per cent more than 51 per cent of the time.

The fund’s SIP returns (XIRR) over the past 10 years are fairly robust at 16.4 per cent. An SIP in its benchmark Nifty 500 TRI would have returned 14.5 per cent over the same period.

All return figures pertain to the direct plan of Tata Equity P/E fund.

The fund has an upside capture ratio of 111.6, indicating that its NAV rises much more than the benchmark during rallies. But more importantly, it has a downside capture ratio of 88.4, indicating that the scheme’s NAV falls less than the Nifty 500 TRI during corrections. A score of 100 indicates that a fund performs in line with its benchmark. This is based on data from April 2022-April 2025.

Smart portfolio churn

Tata Equity P/E fund takes a flexicap approach to stock selection. Therefore, there is substantial proportion invested in mid and small-caps as well, though large-caps dominate the portfolio . In the last couple of years, the allocation to large-caps has been a little over 60 per cent levels. So, mid and small-caps account for 30-35 per cent of the overall holdings. As the portfolio is anchored to valuations, it suffers somewhat less during market corrections.

The fund manages to well-diversified and robust portfolio of 35-40 stocks without being too concentrated in any names barring the top few holdings.

Cash positions are taken to the tune of only 4-6 per cent of the portfolio.

Financial services, mainly banks, NBFCs and capital market companies, have always been the top holdings of Tata Equity P/E. Large banks and NBFCs have especially been resilient in the recent market correction over the past six months. This has helped the fund hold up and not suffer very heavy drawdowns.

Oil, gas and consumable fuels have also been among the top holdings of the fund over the years, as valuations remain the comfort zone for companies in these segments.

It pared exposure to automobiles and auto components as the segments faced a slowdown and also the uncertainties of the US trade tariffs. The correction in IT stocks has made the fund increase stakes in select companies of the space. Large FMCG stocks, too, have corrected significantly, thus giving value opportunities for the fund to hike stakes in a few chosen names.

The fund sticks to the value style and does not go heavy on momentum-driven stocks even in the small-cap segment.

For investors willing to stay on for the long term and take periods of underperformance in their stride, Tata Equity P/E fund can be a rewarding investment.

Published on April 19, 2025

Source link

« Older Entries

Next Entries »

Times Top News

Times Top News

Recent Posts

Recent Comments