This fund has improved its return profile in recent years, consistently outperforming its category average. The flexicap mandate allows the fund to invest 40-60% in large-caps while the balance is held in mid and small-caps. The fund managers prefer companies which are currently out of favour, owing to temporary blips, but where longevity of business model and presence of competitive advantages provides comfort. Companies and sectors which provide a strong play on the demographic profile also tend to get their nod. The portfolio construction is benchmark agnostic and moderately diversified, and the managers takes larger positions in high conviction bets. The fund has a superior risk reward profile compared to many peers, making it a worthy flexi-cap bet.