PGIM India Flexicap mutual fund review: Smart pick up in performance

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.

HOW THE FUND HAS PERFORMED

WHERE THE FUND INVESTS

BASIC FACTS

• Date of launch: 3 April 2015
• Category: Equity
• Type: Flexi Cap
• AUM(As on 30 November 2021): Rs 2,888 crore
• Benchmark: Nifty 500 Total Return Index

WHAT IT COSTS

• NAV (As on 28 December 2021)
• Growth option: Rs 26.83
• IDCW: Rs 20.21
• Minimum Investment: Rs 5,000
• Minimum SIP Amount: Rs 1000
• Expense Ratio(As on 30 November 2021) (%): 2.18
• Exit load: For units in excess of 10% of the investment, 0.5% will be charged for redemption within 90 days

Fund Manager: Aniruddha Naha
Tenure: 3 Year, 7 Months

Top 5 sectors in portfolio(%)

Top 5 stocks in portfolio in (%)

Recent portfolio changes
New Entrants: Ashok Leyland, Bharti Airtel, Cummins India, L&T Infotech, ONGC, PCBL, Bajaj Finance, HEG, Jubilant FoodWorks, Muthoot Finance, Orient Electric, Polycab India, Tata Motors, Tata Steel.

Complete Exits: Balrampur Chini Mills, Chambal Fertilisers, ICICI Lombard, Ipca Labs, TCS, Voltas, Alkem Labs, ICICI Prudential Life, PCBL.

Increasing allocation: Ambuja Cements, Ashok Leyland, Axis Bank, Bharti Airtel, Gujarat Gas, HDFC, ICICI Bank, Infosys, KPR Mills, Krishna Institute Of Medical Sciences, L&T Infotech, L&T, Persistent Systems, SIRCA Paints, SKF India.

How risky is it?

Source: Value research

Should you buy?
This fund, earlier known as PGIM India Diversified Equity, was shifted to the newly introduced flexi cap category to retain its go-anywhere approach. In this aspect, it is distinct from its peer set, running sizeable presence in mid- and small-caps in a category that leans heavily towards large-caps. The fund maintains high flexibility in switching large-cap exposure anywhere between 45-75% as per market conditions. This also results in substantial deviations from index. The fund manager prefers businesses with low leverage, high cash flow and clean governance track record. The fund’s performance has picked up smartly in the past three years in the hands of present fund manager, led by superior downside protection.