Investment Strategy:
The fund manager aims to invest in equity shares that have a high dividend yield in comparison to S&P CNX Nifty at the time of investment. The fund invests in stocks across the entire market capitalisation but focuses mostly on large cap stocks. In the past three years, large cap stocks on an average account for about 68% of the portfolio, midcap stocks account for about 9% of the portfolio, small cap stocks account for about 7% of the portfolio and cash holdings account for 11% of the portfolio. The fund also invests in deposits regularly; these deposits make up 3.5% of the portfolio.
Banking, Information Technology, Cement & Construction, Power and Oil Exploration are the important sectors for this portfolio. These five sectors have accounted on an average for 35% of the portfolio across the three year period and about 43% of the portfolio in 2010. Exposure to the Cement & Construction sector has seen a dramatic pickup in the past three years; the allocation has increased from 1.1% of the portfolio allocation in December 2007 to 8.5% in December 2010.
Asset Size:
The fund's AUM is around Rs. 3263 crore as at 31 March 2011.
Performance:
As of 31 December 2010, this fund has outperformed its benchmark, the BSE 100 Index across 1 year, 3 year, 5 year and since inception periods. Over a 1 year period, this fund has given 24.27% while its benchmark has given 15.66% and has given annualized returns of 21.4% over a 5 year period in comparison to 16.58% of the benchmark over the same 5 year period.
