ICICI Prudential Top 100 has a slightly different large-cap strategy which is more aggressive when compared to other funds from the AMC's stable. It is a regular diversified large-cap fund but what I would call a contra strategy on the large-cap side. So while the portfolio would be holding regular sectors, the fund manager is actually at this point overweight in sectors like materials, industrials and energy, and that is where he is trying to derive value from.

His strategy is to look at sectors where the valuations are slightly depressed but the growth potential is still there. For instance, Power Grid which is one of the stocks that has done well. Larsen & Toubro is one of the top performers in this portfolio over the last five years.

So while a lot of fund managers tend to hold banks, pharmaceuticals and technology stocks which have done well, he has taken a contra call on some of these sectors and they have played out well for him.