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The fund maintains balance through large cap tilt and ample exposure to mid and small cap stocks.
Strategy
The scheme seeks to provide capital growth from a portfolio of stocks across sectors and market cap. The fund follows a blend of value and growth style of investing with a bottom-up approach and takes concentrated bets only in certain stocks. Apart from that, its investments are diversified among different stocks within a sector. It invests around 60 per cent of its portfolio in large caps and puts the rest of the available assets in mid and small stocks with the range being 13 per cent to 54 per cent.
Its single stock allocation above 3 per cent has been to few large cap stocks like HDFC, ICICI, Grasim, Bharti Airtel, Reliance and Infosys in the past 3 years; though the fund's investment in Infosys and Bharti Airtel might have hurt its recent performance.
It is overweight on communications and healthcare as compared to the benchmark while being underweight on technology and financials.
The fund remains almost fully invested all the times and even during the financial crisis of 2008 the equity allocation was 95 per cent.
Performance
It has outpaced the category average in both bull as well as bear phases of the market and its resilience during market downturns has helped it curtail its losses better than most peers. At the same time, this fund has seen bad years in its 19-year history. But its good performances exceed the bad ones. The under performance has also been marginal when compared to the category average except in 2007 when it fell behind by 7 per cent. It has been part of the top-2 quartile most of the times in last 9 years. And its long term returns also don't disappoint as annualised 10-year return of 25.44 per cent is higher than the category average of 23.17 per cent.
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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
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Tax Saving Mutual Funds Online
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