Investment Strategy:
The fund's strategy is to invest in about 20 large cap stocks. Banking, Information Technology, Automobiles, Refineries and Metals are the key sectors for this fund. These five sectors account for over 50% of the portfolio investments. In the first year since inception, these five sectors accounted for less than 50% of the portfolio, but after the first year, the combined weightage of these sectors in the portfolio has never dropped below 50% and in 2010, these sectors accounted for more than 60% of the portfolio in 5 months, mainly in the second half of 2010.
Unlike HDFC Top 200 fund which hardly used derivatives, this fund has used derivatives every month since its inception except for December 2009. In 2008, derivatives accounted for, on an average, 16% of the portfolio's investment; in 2009, the derivatives accounted for 9.6% of the portfolio and in 2010, the derivatives accounted for 5.7% of the portfolio. The cash holdings in the portfolio for 2010 have been 4.2% on an average.
Asset Size:
The fund's AUM is around Rs. 1969 crore as at 31 March 2011.
Performance:
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