Invest In Tax Saving Mutual Funds Online
Call 0 94 8300 8300 (India)
We like this fund for its diversity and consistent performance in its short history. Over the past three years, it has consistently done better than the benchmark CNX Midcap.
Strategy
The investment universe of this fund is made of mid- and small-cap stocks from the CNX Midcap index and the BSE Smallcap index, respectively. It invests 65 to 95 per cent in mid-cap stocks from the CNX Midcap index and 5 to 35 per cent in the small-cap stocks from the BSE Smallcap index.
The fund manager follows a mix of top-down and bottom-up stock selection from a Religare universe of 286 stocks, which is then filtered into a portfolio of about 51 stocks with an average market capitalisation of Rs 5,754 crore. Further, a top-down approach to industry, economic and technical analysis leading to asset and sector allocation instils investment discipline. A blend of mid-cap growth and value portfolio is tricky, especially when the performance of funds in this category is driven by growth with no room for out-of-favour companies even if they have a value orientation.
Performance
Despite its launch in February 2008 in the backdrop of the financial crisis, the fund managed to contain its loss compared to the category. This was achieved with better cash management with the fund holding over 30 per cent of its assets in cash, on an average. The rebound in 2009 was on back of its cash deployment in the FMCG sector, especially several mid-caps like Britannia and Marico and technology sector, besides stocks such as Lupin, ICRA and Crisil, yet it could not outperform the benchmark. But the highpoint was in 2010 when it topped the category on back of its sustained performance by investing in a portfolio of quality stocks from the mid-cap stable. The quality large stocks in the portfolio also helped the fund maintain its performance.
At present the fund maintains a portfolio of 51 stocks with a buy and hold approach and a low turnover ratio of 33 per cent. So far, 25 stocks have been in the portfolio for over 18 months including J&K Bank and Britannia that have been present for more than three years now and Corporation Bank, which has been in there since inception.
Why invest?
A consistent outperformer compared to the Nifty makes this fund a compelling pick for those who can take risks, considering the fund's high-risk grade.
Happy Investing!!
We can help. Call 0 94 8300 8300 (India)
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You can write back to us at PrajnaCapital [at] Gmail [dot] Com
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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online
Tax Saving Mutual Funds Online
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