The fund has delivered good returns in the past, beating its benchmark index and the category average over longer time frames—three, five and 10 years. It has also been a consistent outperformer in recent years. However, it has been struggling of late mostly because of its weak performance in 2018. The fund has taken higher risk but compensated for it by delivering higher return, helping the scheme deliver better risk-adjusted returns.

Being reclassified as a large- and mid-cap fund now, the scheme maintains a large-cap bias. The fund's overly diversified portfolio of 77 stock is tilted towards financials but does not allow it to take large positions even in its top bets. The reclassification may not impact the scheme's profile because the portfolio is already aligned to its new mandate.