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Since the mandate is to focus on smaller companies, the scheme's universe comprises companies constituting the bottom fourth by way of market capitilisation of stocks listed on the NSE or BSE. These companies need to have a strong growth potential, a special product and should cater to a niche segment. There is no particular sectoral bias and the strategy is to identify companies which have the potential to scale up significantly to become materially larger in the medium to long term.

It has a large portfolio of around 59 stocks with several of them getting a miniscule allocation.

 

Performance

It was launched just before the market crisis of 2008 and struggled to stand on its feet in the initial two years. But it bounced back in 2010 when it outperformed the category average as well as its benchmark. It curtailed its losses in the market crisis of 2011 too.

The good run has since then continued unabated as it has outperformed in the past two years as well. It was also part of the top-2 quartile last year.

One look at the fund's portfolio and it is clear that all its top gainers are mid caps. Shree Cement, Eicher Motors, Mphasis, Crisil, LIC Housing and Exide Industries to name a few.

On the other hand, it has burnt fingers in its small cap bets even though average small cap allocation has been around 15 per cent. Some of them include Bharati Shipyard, Advanta India, SREI Infrastructure Finance, Jubiliant Lifesciences and Elecon Engineering.

 

Why invest?

A diversified portfolio with consistent management, the fund has shown its mettle in varied market cycles over the years. A high expense ratio is the only dampener.

Happy Investing!!

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

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Tax Saving Mutual Funds Online

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