How has the fund performed? The fund has lagged behind peers over the past decade. With a 10-year return of 9.55%, the fund has lagged behind the category (11.57%), but has managed to outperform the benchmark index (8.8%). As on 27 Mar 2018
Annualised performance (%) The fund has fared poorly across time periods. As on 27 Mar 2018
Yearly performance (%) The fund has not outperformed consistently in recent years. As on 27 Mar 2018
BASIC FACTS Date of launch: 23 Nov. 2005 Category: Equity Type: Tax saving Average AUM : Rs 717.02 CR Benchmark: NIFTY 500 Index
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WHAT IT COSTS NAVs* Growth option: Rs 40 Dividend option: Rs 19 Minimum investment: Rs 500
Fund manager: Harsha Upadhyaya Tenure: 2 years and 6 months Education: BE, PGDM CFA
Where does the fund invest? The fund's top picks are mostly index heavyweights. How risky is it? The fund's risk-return profile is inferior to many of its peers. Wherever not specified, data as on 28 Feb 2018. source: Value Research
Should You Buy This tax-saving fund has been rather inconsistent in its performance in recent years, lagging behind peers in its category. The fund’s distinct large-cap bias may be partly responsible for this, as peers have benefited from higher mid-cap exposure. However, the fund has ramped up its mid-cap presence over the past year. The fund is reasonably diversified with healthy exposure in its top picks—mostly index heavyweights.
The fund manager is comfortable taking high active positions in lesser-known stocks as well. Barring its heavy overweight stance in construction space and underweight position in automobiles, its sector positioning is in line with the index. With more proven performers in this segment, the fund needs a substantial improvement in return profile to be considered a worthy pick.
