ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.

BASIC FACTS

DATE OF LAUNCH

24 FEB 1995

CATEGORY

EQUITY

TYPE

LARGE & MIDCAP

AUM*

Rs.5,458 crore

BENCHMARK

S&P BSE 250 LARGE MIDCAP

TOTAL RETURN INDEX

WHAT IT COSTS

NAV**

GROWTH OPTION

Rs.609.54

IDCW

Rs.108.99

MINIMUM INVESTMENT

Rs.1,000

MINIMUM SIP AMOUNT

Rs.1,000

EXPENSE RATIO*** (%)

1.95

EXIT LOAD

1% for redemption within 90 days

*AS ON 31 OCTOBER 2022
**AS ON 22 NOVEMBER 2022
***AS ON 31 OCTOBER 2022

FUND MANAGER

SATYABRATA MOHANTY

TENURE: 11 YEARS

Recent portfolio changes
New Entrants: Avenue Supermarts, Bharat Electronics, Aarti Pharmalabs, Bharat Forge, Devyani International.

Complete Exits: Mphasis, ICICI Lombard, Syngene International, Whirlpool of India.

Increasing allocation: Bajaj Finance, Craftsman Automation, Endurance Technologies, PVR, Rolex Rings, Tarsons Products, UNO Minda, Anupam Rasayan India, Axis Bank, Infosys, Polycab India.

Should you buy?

After transitioning to a large & mid cap offering from its earlier multi cap avatar in 2018, this fund has seen inconsistency set in. Amid sweeping changes, its mid cap presence was hiked sharply and is now balanced evenly between large and mid/small cap segments. Further, its earlier sharp deviations in sector positioning relative to the index are now moderate. While it had a track record of modest outperformance leading up to the recategorisation, it has been erratic in the past few years. Strong showing in 2020 and 2021 has been wiped away by sharp underperformance this year, hurting its long term track record. It needs to find its feet quickly to catch up with its peers.

(Source: Value Research)