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Wednesday, November 16, 2016

IDFC Classic Equity Fund


IDFC Classic Equity Fund

In the past one year, one of the underperforming multi-cap schemes, IDFC Classic Equity, has shown high resilience. The scheme, which was in the last quartile of performance in large-cap category due to its poor performance, jumped to the first quartile thanks to the stock-picking abilities of Anoop Bhaskar, who joined IDFC in February.

Having a strong performance record at Sundaram and UTI fund houses, Bhaskar is keenly focused on reviving Classic Equity's performance. Bhaskar follows two key factors in the way he manages the scheme's portfolio. Almost 75-80% of the scheme's portfolio is long-term in nature, while 20-25% of it is trading portfolio where the attempt is to identify stocks which could boost the scheme's performance in a meaningful way.


In the past three-year and five-year periods, the scheme has beaten its benchmark S&P BSE 200 consistently. It lags behind its peers in the past three-year and fiveyear periods. However, with the fund manager's focus on economy-driven sectors such as auto, cement and consumer discretionary, the scheme's performance is expected to catch up with its peers and it may beat its peers by a wide margin.


In the past six months, Anoop Bhaskar has exited companies which were underperformers and enhanced allocation to strong value-generating companies where earnings visibility is high. These are HDFC Bank, ITC, Axis Bank, and UltraTech Cement.









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