ABSL Equity Advantage mutual fund review: Needs to catch up with peers

ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.

BASIC FACTS
DATE OF LAUNCH

24 FEB 1995
CATEGORY
EQUITY
TYPE
LARGE & MIDCAP
AUM*
Rs.5,458 crore
BENCHMARK
S&P BSE 250 LARGE MIDCAP
TOTAL RETURN INDEX
WHAT IT COSTS
NAV**
GROWTH OPTION
Rs.609.54
IDCW
Rs.108.99
MINIMUM INVESTMENT
Rs.1,000
MINIMUM SIP AMOUNT
Rs.1,000
EXPENSE RATIO*** (%)
1.95
EXIT LOAD
1% for redemption within 90 days

*AS ON 31 OCTOBER 2022
**AS ON 22 NOVEMBER 2022
***AS ON 31 OCTOBER 2022

FUND MANAGER
SATYABRATA MOHANTY
TENURE: 11 YEARS

Recent portfolio changes
New Entrants: Avenue Supermarts, Bharat Electronics, Aarti Pharmalabs, Bharat Forge, Devyani International.
Complete Exits: Mphasis, ICICI Lombard, Syngene International, Whirlpool of India.
Increasing allocation: Bajaj Finance, Craftsman Automation, Endurance Technologies, PVR, Rolex Rings, Tarsons Products, UNO Minda, Anupam Rasayan India, Axis Bank, Infosys, Polycab India.

Should you buy?
After transitioning to a large & mid cap offering from its earlier multi cap avatar in 2018, this fund has seen inconsistency set in. Amid sweeping changes, its mid cap presence was hiked sharply and is now balanced evenly between large and mid/small cap segments. Further, its earlier sharp deviations in sector positioning relative to the index are now moderate. While it had a track record of modest outperformance leading up to the recategorisation, it has been erratic in the past few years. Strong showing in 2020 and 2021 has been wiped away by sharp underperformance this year, hurting its long term track record. It needs to find its feet quickly to catch up with its peers.

(Source: Value Research)