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AIG India Equity Fund Regular has, largely beaten the benchmark Sensex since its inception. In 2009, when the markets were looking up, the fund switched to defensives. This shift helped it to record a better performance than the Sensex. In the last three-year period, the fund has given 33.8% as against the Sensex, which gave 28.2% for the same period. Also in the last one year, when the Sensex has given negative returns, the fund has delivered a positive return of 8.7%. The fund has been careful in following this strategy and has avoided picking up many predictable index stocks that are accorded a high value in most diversified equity funds. Though the fund has a few obvious heavyweights like L&T, HDFC Bank and Hero MotoCorp, it bases its selection till the heavyweight continues to have an edge over its peers in various business parameters.