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Mutual Fund Review: HDFC MID-CAP OPPORTUNITIES FUND

Investment Strategy:

This scheme aims to generate good returns by focusing on large and midcap stocks. In the past three years, large cap stocks on an average account for 53.9% of the portfolio, midcap stocks account for 18% of the portfolio, small cap stocks account for 22.4% of the portfolio and cash holdings account for 5.5% of the portfolio.

Pharmaceuticals, Auto Ancillary, Banking, Abrasives and Air Conditioners are the important sectors for this portfolio. These five sectors on an average account for 35% of the portfolio. However, these five sectors have accounted for 44.5% of the portfolio for 2010. Pharmaceuticals is the largest sector allocation as it has grown from 4.4% in December 2007 to 16.87% in December 2010. Air conditioner is another sector which has seen high allocation; from 1.2% allocation in March 2008, the allocation has grown to 5.06% in December 2010.

Asset Size:

The fund's AUM is around Rs. 1221 crore as at 31 March 2011.

Performance:

This fund is one of the better performing domestic midcap and small cap funds in India and is also the best performing midcap and small cap fund on our platform.

As of 31 December 2010, this fund has outperformed its benchmark , the CNX Midcap Index across all periods, right from six months till since inception. Over a 1 year period, this fund has given 32.33% while its benchmark has given 19.16% and since inception, this fund has given annualized returns of 14.97% while its benchmark has given 12.63%. 
 

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