In 2008, it shed 49.22 per cent, when its peers were down 55.67 per cent and was the third best performing fund in the tax-planning category. And, this was done without aggressive cash calls.
The large-cap bias it maintains, always helps in limiting the downside. Unlike its peers, the fund is never seen boarding heavily on lower-cap stocks.
In the recent bull run (March 9, 2009 to November 30, 2009), the fund turned in 101.37 per cent against the categorys 104.17 per cent.
The fund manager adheres to a buy and hold strategy. This can be seen from the sectoral allocation. Except for a few months in 2004, financial services has been among top allocations, currently being 26 per cent. Also, since April 2006, allocation to the engineering sector has rarely gone below 10 per cent. Some of the favourite picks of the fund manager are Infosys Technologies, Larsen and Toubro, Grasim Industries, Reliance Industries, Cummins India.
With 50 stocks in the portfolio and the top five holdings accounting for 29 per cent of the portfolio, the fund looks fairly diversified as compared to its peers.
