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 HAS THE FUND PERFORMED?
With a 7-year return of 25.08%, the fund has outperformed both the category average return (18.04%) and benchmark (13.4%) by a wide margin.
Growth of Rs 10,000 vis-a-vis category and benchmark
BASIC FACTS
Date of launch: 9 July 2010
Category: Equity
Type: Mid Cap
Average AUM: Rs 5,030.50 cr
Benchmark: Nifty Free Float Midcap 100 Index
WHAT IT COSTS
NAVs (As on 26 Dec 2017)
Growth option": Rs 53
Dividend option: Rs 32
Minimum investment: Rs 5,000
Minimum sip amount: Rs 1,000
Expense ratio (%): 2.40
Exit load: 1% for redemption within 365 days
FUND MANAGER
Neelesh Surana
Tenure: 7 years and 6 months
Education: B.E (Mechanical) and MBA in Finance
WHERE DOES THE FUND INVEST? HOW RISKY IS IT?
Wherever not specified, data as on 30 Nov 2017. Source: Value Research
Should you buy?
This mid-cap oriented fund continues its stellar run, clocking another year of outperformance over benchmark and peers—a feat it has achieved every year since inception. The fund manager plies a strictly bottom-up approach to stock selection and keeps risk contained by focusing on larger mid-caps. A year ago, it had stopped accepting lump sum investments and now the fund has also put restrictions on SIP investments—only allowing SIP on the tenth of every month with an upper limit of Rs 25,000.
It has done so to preserve its return profile in the face of mounting inflows and stretched valuations in the mid-cap space. This step should help the fund navigate the tricky market situation better. With its consistent performance over many years and superior risk-return profile, this fund remains a dependable offering in this category.
