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Reliance MIP

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Call 0 94 8300 8300 (India)

 

 

We like this fund for its ability to do well in the long run, though at times the risky investment strategy that it adopts can work both ways.

 

Strategy


This is a hybrid fund with a marginal allocation to equity which may go up to a maximum 20 per cent. Its portfolio reflects an optimum blend of fixed and floating rate instruments, comprising CDs to take care of liquidity and plain vanilla bonds to take care of yield enhancement. The fund managers lay emphasis on accrual-based returns than on active trading. Government securities enhance the credit quality and enable in benefiting from the bond market play. The fund manager takes active calls on the possible future interest rates scenario, financial health of the issuer, and the maturity of the instrument for investments in debt. It tries to minimise the risks associated with such investments by diversification and effective use of hedging techniques.

 

Although the investment into equity is capped at 20 per cent, it is well-diversified. There are 35 stocks in this portfolio compared to the category average of 25, with mid-cap allocation of 34 per cent, as on December 31, 2012. The portfolio is actively managed to select and time stocks appropriately.

 

Performance


This fund has underperformed the category average only twice in its 9-year history. A top-quartile performer, the fund has turned around compared to its 2011 performance. The fund does pose short-term erratic returns, but investors should consider their investments with a minimum 2-year window. The fund manager's ability to balance between safety, liquidity and profitability with equity-debt exposure has worked. A top quartile performer, this scheme is an impressive performer making it a compelling choice in this category with one of the lowest expense ratio in the category. The equity allocation adopted by the fund manager over the past three years was about 20 per cent, which helps mitigate the risk by diversifying across a wide number of stock holdings. A well-diversified portfolio of 35 stocks including large-cap quality stocks such as Maruti Suzuki, State Bank of India, Tata Motors and ICICI Bank has aided performance.

 

Why invest?


An impressive performer with reasonable frequency of dividend, making it a compelling choice, that has resulted in the assets of this fund schemes rise over the years. Its expense ratio of 1.59 per cent is one of the lowest.

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

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You can write back to us at PrajnaCapital [at] Gmail [dot] Com

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