There is a considerable degree of uncertainty concerning the way Goods and Services Tax (GST) would impact earnings of corporate India. This has put most experts and analysts in wait and watch mode.Given this situation, for long-term retail investors, it makes sense to be with schemes that have a focus on large-sized companies, which are relatively better equipped to deal with uncertainties of GST.

One such scheme that has performed well in the past three-year and five-year periods with respect to its benchmark (Nifty 50) is ICICI Prudential Focused Blue Chip. Fund manager Manish Gunwani has been with the scheme for more than five years. It invests close to 90% of its portfolio in large companies and the remaining in mid-sized companies.

There are a few parameters ICICI Prudential Focused BlueChip Equity scheme's fund manager takes into account before selecting a stock. These are: dividend record, cashflow from operations, robust corporate governance and dominant market share. These parameters facilitate the selection of superior performers among large companies. This strategy has paid off for the scheme as it has beaten its benchmark by a wide margin. In the past three-year and five-year periods, the scheme has delivered 12% and 17% returns, respectively while the Nifty 50 has delieverd 7% and 14% returns, respectively in the same period.

In the past six months, Gunwani has bought and also enhanced exposure in companies which are a mix of high growth and value stocks. These companies represen the aforementioned selection parameters and are likely to do well in the coming quarters. A few prominent companies it has invested in include InterGlobe Aviation, ICICI Bank, Muthoot Finance, Asian Paint and Ashok Leyland