FUND PHILOSOPHY*

The fund aims to generate steady returns by investing in the leading stocks of the chosen sectors, predominantly amongst the large cap universe. The portfolio approach is based on a robust three pillar strategy, namely:
Buying the right sectors – Identifying and investing in the right sectors with the flexibility to have large deviations from the benchmark sector weights.
Buying the sector leaders - Investing in the sector leader companies having strong fundamentals, solid execution track record as well as resilient balance sheet to withstand any cyclical downturns.
Tactical allocation to mid/small caps – Opportunistic allocation to take advantage of any mispriced opportunities or a benevolent risk-on environment.
The fund has a “Growth” and “Quality” oriented investment style, and is focused on companies having a strong visibility of earnings growth coupled with healthy return on capital employed.

     OUTLOOK

The pandemic's second wave appears to have peaked and a long "plateau" lies in front of us (similar to Jul-Sept 2020). The pace of vaccination will be an important factor to re-start the economic engine – which thankfully was in neutral rather than switched off as the case last year.

For India, macros economic indicators - inflation and crude oil remain the two key variables to track. From a macro point of view, the debate of Cyclical vs Growth will rage till the time RBI policy – which currently focuses entirely on Growth, pivots its focus solely on inflation. It may be difficult to predict how long this phase will last. For smart investors, observing/ keeping track of key macro trends will need to become an integral part of the investment process – domestic as well as global.

Markets at current elevated levels need the support of strong earnings growth and continuation of the loose monetary policy globally, especially in the US. Any perception of change to the worse on both counts will make the markets nervous and twitchy. Market corrections, as a result, will not be slow and suffocating, they will be short and sharp. FY21-23 market move may be more broad-based as compared to the FY17-20 phase. The same may be necessitated across equity portfolios!

     FUND FEATURES: (Data as on 30th June'21)

Category: Large Cap
Monthly Avg AUM: Rs786.74 Crores
Inception Date: 9th June 2006
Fund Manager:
Mr. Sumit Agrawal and Mr. Arpit Kapoor (w.e.f.01/03/2017)
Other Parameters:
Beta: 0.89
R Square: 0.96
Standard Deviation (Annualized): 20.01%
Benchmark: S&P BSE 100 TRI (w.e.f. 18/04/2017)
Minimum Investment Amount: Rs5,000/- and any amount thereafter.
Exit Load:
• If redeemed/switched out within 365 days from the date of allotment:
> Up to 10% of investment: Nil,
> For remaining investment: 1% of applicable NAV
• If redeemed / switched out after 365 days from date of allotment: Nil.
(w.e.f. 25th June 2021)
SIP Frequency: Monthly (Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment.)
Options Available: Growth, IDCW@ (Payout, Reinvestment and Sweep (from Equity Schemes to Debt Schemes only))

PORTFOLIO

(30 June 2021)

     SECTOR ALLOCATION

     RISKOMETER