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This fund takes significant exposure to mid-cap stocks with no restriction on sectors or allocation to a single stock. Investments are in companies with good management and potential future growth. The fund managers follows a mix of top-down and bottom-up approach to invest. In bull runs, this fund takes concentrated sector bets and aggressive sector allocation. During bear phases, the fund holds defensive stocks, diversifies across stocks and uses cash as a hedge tool.

 

The debt component invests in instruments from established institutions with high credit rating, with investments in debentures of highly rated companies such as HDFC, LIC Housing Finance and PFC.

 

Performance

This eight-year-old fund has done well in most years and generated superior returns than the category average. A top-quartile fund over the past six years, the only year when the fund was unable to manage this feat was 2011. However, it was able to bounce back in 2012 when it did better than the category average by 7 per cent. The fund's high mid-cap allocation has played out during market rallies. The fund's best performance was in the rising market of 2007 and 2009 as it was among the top-5 funds in its category.

 

Banks, healthcare and technology are currently the top sectors. The top sectors change depending on the prevailing market momentum and valuations. Quality stocks such as Infosys, ICICI, Airtel, Divi's and Reliance regularly feature in its portfolio with allocation to Infosys being the highest and almost touching 7 per cent.

The other factor that has worked in this fund's favour is the active asset balance. The fund actively balances its equity-debt ratio which has ranged between 64 and 75 per cent over the past three years in equity. However, this wide spread is also penalised when the markets fall. Over the past 5 years, this fund has posted 11.94 per cent returns compared to 6.56 per cent by the category average.

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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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Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

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