Investment Strategy:
The fund invests in stocks across the entire market capitalisation almost equally. In the past three years, large cap stocks on an average account for about 37% of the portfolio, midcap stocks account for about 22% of the portfolio, small cap stocks account for about 30% of the portfolio and cash holdings account for 6% of the portfolio. The fund also invests in derivatives, which make up 3% of the portfolio on an average.
Banking, Pharmaceuticals, Information Technology, Cement & Construction and Power are the important sectors for this portfolio. These five sectors have accounted on an average for 40% of the portfolio across the three year period. Banking and Pharmaceuticals are the largest sectors in the portfolio. In the past three years, exposure to banking sector has never fallen below 9% of the portfolio and exposure to the pharmaceuticals sector has never fallen below 5%.
Asset Size:
The fund's AUM is around Rs. 1626 crore as at 31 March 2011.
Performance:
As of 31 December 2010, this fund has outperformed its benchmark, the S&P CNX Nifty across 1 year, 3 year, 5 year and since inception periods but has underperformed its benchmark in the 6 months period. Over a 1 year period, this fund has given 27.7% while its benchmark has given 18.0% and has given annualized returns of 19.5% over a 5 year period in comparison to 16.7% of the benchmark over the same 5 year period.
