BIRLA SUN LIFE TAX RELIEF 96 Fund has no particular bias towards any market cap size and takes a pure bottom-up view in portfolio construction. The emphasis is on quality--the fund manager prefers businesses with strong moats and the ability to sustain or achieve leadership position over a decade.

The fund manager does not believe in index hugging, and is comfortable taking large posi tions in his top bets, most of which are not a part of the benchmark index. This lends an element of aggression to the portfolio. However, the strict focus on quality ensures there is no junk in the portfolio.

In fact, many of the top picks are from the MNC space. Boasting among the best risk-return profile in its category, the fund's proven track record makes it a worthy pick.