OUTLOOK

• With the spread of the pandemic and the lockdown during Q1 FY21, earnings for the year FY21 were sharply downgraded.

• However, the swifter than expected economic recovery led to a more robust Q2 FY21.

• Upgrades exceeded downgrades 3x, a rarity, after years of earnings disappointment.

• FY21 estimates, quickly rebounded from negative to positive territory, despite the Q1 debacle.

• The fall during Mar’20 lasted less than 35 trading days, erasing between 36-43% across the indices – Large, Mid and Small Caps. Supportive action from Central Banks was quicker.

• As investors searched for stable earnings, rotation from one sector to another, as exhibited from Apr-Dec’20 phase was evident.

• Staples after outperforming in Mar-Apr, have underperformed since then. Pharma and IT services outperformed during May-Sept; Banks/NBFC, after underperforming from Mar-Sept,20; outperformed during Oct-Dec’20.

• After the debacle of Mar’20, Small caps outshone the rest of the market – for the first time since CY17.

• If economic recovery is robust and RBI does not move aggressively into high real interest zone, Small caps could benefit the most.

     FUND FEATURES : (Data as on 31st December'20)

Category: ELSS
Monthly Avg AUM: Rs2,627.26 Crores
Inception Date: 26th December 2008
Fund Manager:
Mr. Daylynn Pinto (w.e.f. 20/10/2016)
Other Parameters:
Beta: 1.14
R Square: 0.95
Standard Deviation (Annualized): 26.23%
Benchmark: S&P BSE 200 TRI
Minimum Investment Amount: Rs500/-
Exit Load: Nil
SIP Frequency Monthly (Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment.)
Options Available: Growth, Dividend - Payout and Sweep (from Equity Schemes to Debt Schemes Only)

PORTFOLIO

(31 December 2020)

     SECTOR ALLOCATION

     RISKOMETER