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 CONTENTS
'(&(0%(5
Volume XVIII, Number 3 32 Cover Story

Editorial
Principles
Diversification
Value Research is an
How to get it right
independent investment
research company. Our goal is
Too many funds in your portfolio can increase the hassle
to serve our readers with data, of managing it, without contributing to better diversification
information and knowledge
that inform them about
savings and investments and
help them learn how to make
better choices.
The basis of our work is the
trust reposed in us by our
readers. We are independent,
fair and honest. We are
committed to achieving the
highest level of accuracy and
impartiality in everything that
we publish.
We recognise that the
nature of our work is such
that it influences decisions
that affect our readers’ future.
We strive to bear this
responsibility with humility.
We recognise that while it is
not possible to be 100 per
cent accurate, it is possible to
always strive to achieve that
standard to the best of our 14 Value Research Premium 26 Spotlight
abilities.

Editor Dhirendra Kumar

A cut of your ‘We try to stand
Research and Editorial Aakar Rastogi,
Ashutosh Gupta, Debjani Chattopadhyay,
money out of the crowd to
Deepika Saxena, Omkar Vasudev Bhat, Sandeep
P, Shivani Gola, Sneha Suri, and Vibhu Vats
Does anyone deserve a cut of your
money for telling you where to invest?
build our portfolio’
Design Mukul Ojha
Production Hira Lal
Aniruddha Naha, Senior Fund Manager,
PGIM India Mutual Fund
ADVERTISING
Venkat K Naidu: 09664048666
Biswa Ranjan Palo: 09664075875

SUBSCRIPTION
0120-4201008 / 4571008
09868891830 / 9560200520

Address your correspondence to:

Editor, Mutual Fund Insight
5 Commercial Complex, Chitra Vihar,
Delhi-110092, India
e-mail: editor@valueresearchonline.com

© 2020 Value Research India Pvt. Ltd. Mutual Fund Insight is owned by Value Research India Pvt. Ltd., 5, Commercial Complex, Chitra Vihar, Delhi 110092.
Editor: Dhirendra Kumar. Printed and published by Dhirendra Kumar on behalf of Value Research India Pvt. Ltd. Published at 5, Commercial Complex, Chitra Vihar, Delhi 110 092. Printed at Option Printofast, 46, Patparganj Industrial Area, Delhi -92.

Registered with the Registrar of Newspapers for India, Registration Number DELENG/2003/11417

4 Mutual Fund Insight December 2020

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 9 First Page 31 Quick Chat
DHIRENDRA KUMAR 6DQGHHS7DQGRQ
Diversify &(2 &,2
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The contents of Mutual Fund Insight published by Value Research India Private Limited (the “Magazine”) are not intended to serve as professional advice or guidance and the Magazine takes no
responsibility or liability, express or implied, whatsoever for any investment decisions made or taken by the readers of this Magazine based on its contents thereof. You are strongly advised to verify the
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for investors. The readers of this Magazine should exercise due caution and/or seek independent professional advice before entering into any commercial or business relationship or making any investment
decision or entering into any financial obligation based on any information, statement or opinion which is contained, provided or expressed in this Magazine.
The Magazine contains information, statements, opinions, statistics and materials that have been obtained from sources believed to be reliable and the publishers of the Magazine have made best
efforts to avoid any errors and omissions, however the publishers of this Magazine make no guarantees and warranties whatsoever, express or implied, regarding the timeliness, completeness, accuracy,
adequacy, fullness, functionality and/or reliability of the information, statistics, statements, opinions and materials contained and/or expressed in this Magazine or of the results obtained, direct or
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Reproduction of this publication in any form or by any means whatsoever without prior written permission of the publishers of this Magazine is strictly prohibited. All disputes shall be subject to the
jurisdiction of Delhi courts only. ALL RIGHTS RESERVED

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Diversify your life
Y ou diversify your
investments, and your
investments diversify
your life. Am I being facetious? Is
this just word play? No! Absolutely
not. There is a very real sense in
which having enough investments
will allow you to diversify your life
when you most need to. As the evil
shadow of China and its virus falls
on the millions of jobs and
businesses around the world,
having enough savings or not
having enough savings makes a big
difference in whether you can
diversify your future and your life.
Even though our cover story is
on diversification, I’m talking
about something very different
here. Nowadays, many people find
their careers stagnant or shaky at a
certain point. Generally, they find
it hard to switch to another
industry which has better
prospects. That’s because after a
decade or so of working in a kind
of a job, you become good at it, but
also become its prisoner. In my
observation, people who have good
savings accumulated at such a
point generally manage to weather
the crisis and adjust their career
path to something better. They are
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FIRST PAGE
able to diversify their life. In a
very real sense, your investments
provide you with this ability to
diversify your life.
Some years ago, a friend of
mine hit a crisis which first made
me realise the nature of this
problem. This couple both worked
in a large IT company. Predictably,
a good amount of their
investments was in the form of
their own company's stock options.
On top of that, because they
thought they understood the
industry well, they also had a good
amount of equity investments in
other technology stocks.
You can guess the rest. Over the
years when the tech industry
declined from being a permanent
sunrise sector, realisation dawned
that the long-term bright future that
their industry was supposed to
have may turn out be relatively
ordinary. And, at the same time,
their investments in their own
employer remained stagnant for
many years. The same thing
happened to their investments in
other tech stocks. In fact, many of
them did far worse.
This point is not a commonly
realised one. Diversification is
supposed to be the most important
part of any investment strategy. You
are supposed to spread your
investments across different sectors
and industries so that bad times in
one may be offset by another.
However, diversification must start
with diversifying one's life, not just
one's investments. Your career is
tied up with a particular industry,
so your stock investments must
necessarily be as far diversified
from that industry as possible.
However, for a variety of
reasons, the reverse seems to be
true. One reason seems to be that
many of the employees who receive
ESOPs are otherwise not stock
investors. They never buy too many
other stocks or mutual funds and
thus most of their investments are
in their own company. Even when
they diversify, they have a tendency
to buy the stock of other companies
in the same industry, probably
because they feel they understand
the industry or they admire another
company in the same industry. This
is illusory diversification. Maruti
employees buying Tata Motors
stock or Infosys employees buying
TCS stock may feel like they are
diversifying but they are not.
Tying up both your career and
your savings to the well-being of
the same company (or the same
industry) is clearly a case of putting
all your eggs in one basket. And
that's never a good idea.
Consciously diversifying your
investments away from the rest of
your life will help you in ways that
you may not have anticipated.
Investing in mutual funds is
the best and easiest way out of
this diversification trap. However,
as our cover story points out, even
there, some thought has to be
applied.
Dhirendra Kumar
Editor
Mutual Fund Insight December 2020 9
 FUND REPORTER
SEBI introduces the category of
flexi-cap funds
SEBI has introduced a ‘flexi-cap’
category under equity schemes.
In the new category, funds will be
able to invest in companies of any
size in any proportion. Earlier,
SEBI had changed the criteria for
multi-cap funds, necessitating
them to hold at least 25 per cent
of assets each in large, mid and
small caps. This regulation had
not been received well by fund
houses as many multi-cap funds
are huge and deploying a large
capital in small caps wouldn’t
have been easy for them.
Now with the introduction of
a flexi-cap category, many multi-
cap funds are likely to switch to
it to retain their investment style
and current portfolios. In such
cases, investors should see only a
customary change in the names
of their funds. However, if a fund
decides to adopt the new multi-
cap mandate, then its investors
would need to decide whether
they want to remain invested or
exit the fund.
Debt funds need to invest 10 per
cent in liquid assets and conduct
stress tests
To enhance the liquidity-manage-
ment framework of debt funds,
SEBI has mandated these funds
to keep at least 10 per cent of
their net assets in liquid assets,
such as cash, government securi-
ties, repo on government securi-
ties and T-bills. The regulation
has excluded overnight funds,
10 Mutual Fund Insight December 2020
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liquid funds, gilt funds and gilt
funds with 10-year constant dura-
tion. These rules will be effective
from February 1, 2021.
The market watchdog has also
mandated all open-end debt
funds (except overnight funds) to
conduct stress tests effective
from December 1, 2020. SEBI has
set up a committee to deliberate
on the rules and according to the
recommendation of the commit-
tee, the rules related to the allo-
cation to liquid assets and stress
testing may be modified.
Equity funds continue to bleed
Open-end equity funds witnessed
net outflows for the fourth consec-
utive month. In October, they had
a net outflow of over `2,700 crore.
Barring large- and mid-cap funds
and sectoral/thematic funds, all
equity categories saw net out-
flows. Multi-cap funds and value/
contra funds observed maximum
net outflows in the category.
Open-end debt funds, on the
contrary, saw net inflows worth
over `1 lakh crore. But investors
continued exiting from cred-
it-risk funds. However, the quan-
tum of outflows in these funds
reduced as compared to previous
months, when the net outflows
had spiked at over `19,000 crore.
AMFI announces nomenclature
guidelines for distributors
AMFI has come up with new
nomenclature guidelines for
mutual fund distributors. The
move is in line with SEBI’s deci-
sion to separate advisory and dis-
tribution functions in the mutual
fund industry.
In its circular, AMFI stated,
“The name of a mutual fund dis-
tributor (MFD) should reflect the
registration held by the entity
and should not in any way create
an impression of performing a
role for which the entity is not
registered. Thus, every MFD,
while dealing in distribution of
securities, should clearly specify
that he/she is acting as a MFD.”
AMFI advised MFDs whose
registered names contain terms
such as adviser/advisor/finan-
cial adviser/investment adviser/
wealth adviser/wealth manager/
wealth managers, etc., to get
their names changed.
For the reference of distribu-
tors, AMFI has also come up
with a list of acceptable names
as well as a list of names/terms
which are not permissible.
To ensure transparency, AMFI
has also advised MFDs to display
a tagline in all forms of printed
communication, stating ‘AMFI-
registered Mutual Fund
Distributor’ along with their
names in a clear and legible font.
Nippon AMC launches a CPSE
bond ETF
Nippon India Mutual Fund has
launched Nippon India ETF
Nifty CPSE Bond Plus SDL – 2024
Maturity. It will have a high-qual-
ity portfolio of government and
PSU papers. The fund will invest
in the Nifty CPSE Bond Plus SDL
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
 FUND REPORTER
Sep 2024 50:50 Index, which will
have 50 per cent of AAA rated
bonds issued by CPSEs and 50
per cent of state development
loans (SDLs). The portfolio will
be rolled down in line with the
index, which will terminate in
September 2024.
Mirae launches ESG ETF and FoF
Mirae Asset Investment
Managers (India) has launched
Mirae Asset ESG Sector Leaders
ETF, which will track the Nifty
100 ESG Sector Leaders TRI.
Besides, it has launched Mirae
Asset ESG Sector Leaders Fund
of Fund, an open-end scheme that
will predominantly invest in the
aforementioned new ESG ETF by
acting as a feeder fund to it.
Both these schemes, managed
by Bharti Sawant, are the first of
their kind in the Indian market.
The benchmark index for both
these schemes is the Nifty 100
ESG Sector Leaders Index. This
index tracks the performance of
select companies within each sec-
tor of Nifty 100 which score high
on ESG (environmental, social
and governance) risk manage-
ment and which are not involved
in any major controversies.
Inflows restricted further in Mirae
Asset Emerging Bluechip Fund
Fresh SIP registration in Mirae’s
flagship Emerging Bluechip
scheme has been further restrict-
ed to a maximum of `2,500. The
fund had suspended fresh lump-
sum subscriptions/switch-in in
12 Mutual Fund Insight December 2020
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
-\UKTHUHNLYJOHUNL
Schemes Existing Î New
DSP Equal Nifty 50 Fund Anil Ghelani Î
Anil Ghelani & Diipesh Shah
DSP Liquid ETF Anil Ghelani Î Anil Ghelani &
Diipesh Shah
DSP Nifty 50 Index Fund Anil Ghelani Î
Anil Ghelani & Diipesh Shah
DSP Nifty Next 50 Index Fund Anil Ghelani Î
Anil Ghelani & Diipesh Shah
DSP Quant Fund Anil Ghelani Î Anil Ghelani &
Diipesh Shah
Mahindra Manulife Arbitrage Yojana Srinivasan
Ramamurthy & Rahul Pal Î V Balasubramanian
& Rahul Pal
Mahindra Manulife ELSS Kar Bachat Yojana
Srinivasan Ramamurthy Î Fatema Pacha
Mahindra Manulife Equity Savings Dhan Sanchay
Yojana Srinivasan Ramamurthy & Rahul Pal Î
Fatema Pacha & Rahul Pal
Mahindra Manulife Hybrid Equity Nivesh Yojana
Srinivasan Ramamurthy & Rahul Pal Î
Fatema Pacha & Rahul Pal
Mahindra Manulife Multi Cap Badhat Yojana
Srinivasan Ramamurthy Î Fatema Pacha
3VHKJOHUNL
Scheme Date
ICICI Pru Bharat Consumption Fund Nov 07, 2020
ICICI Prudential Commodities Fund Nov 07, 2020
ICICI Pru Passive Strategy Fund (FOF) Nov 07, 2020
PGIM India Euro Equity Fund Oct 24, 2020
Union Medium Duration Fund Nov 04, 2020
)LUJOTHYRJOHUNL
Schemes Existing Î New
SBI Multi Asset Allocation Fund Domestic Price of
Gold (34), CRISIL Composite Bond TRI (33), NIFTY 50
TRI (33) Î CRISIL 10 year Gilt (45), NIFTY 50
TRI (40), Domestic Price of Gold (15)
October 2016 and restricted new
SIP registration up to `25,000
through the monthly or quarter-
ly mode.
With the latest change, invest-
ments through all other system-
Nippon India Balanced Advantage Fund Prashant R
Pimple, Manish Gunwani & Ashutosh Bhargava Î
Prashant R Pimple, Manish Gunwani,
Ashutosh Bhargava & Amar Kalkundrikar
Nippon India Consumption Fund Sailesh Raj Bhan
Î Amar Kalkundrikar
Nippon India Multi Asset Fund Amit Tripathi, Vikram
Dhawan, Manish Gunwani, Ashutosh Bhargava and
Kinjal Desai Î Amit Tripathi, Vikram Dhawan,
Manish Gunwani, Ashutosh Bhargava, Kinjal
Desai & Tejas Sheth
Shriram Balanced Advantage Fund Gargi
Bhattacharyya Banerjee Î Gargi Bhattacharyya
Banerjee & Alok Ranjan
Shriram Hybrid Equity Fund Gargi Bhattacharyya
Banerjee Î Gargi Bhattacharyya Banerjee &
Alok Ranjan
Shriram Long Term Equity Fund Gargi
Bhattacharyya Banerjee Î Gargi Bhattacharyya
Banerjee & Alok Ranjan
Shriram Multicap Fund Gargi Bhattacharyya
Banerjee Î Gargi Bhattacharyya Banerjee &
Alok Ranjan
New load
1% for redemption within 90 days
1% for redemption within 90 days
For units in excess of 10% of the
investment,1% will be charged for redemption
within 365 days
1% for redemption within 30 days
1% for redemption within 15 days
5HTLJOHUNL
Old Î New
PGIM India Euro Equity Fund Î PGIM India
Emerging Markets Equity Fund
atic routes, such as STP, have
also been suspended and those
through group investment plans
(investments by an employer on
behalf of employees) have been
restricted to `2,500 monthly.
 *


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*Investors should consult their financial advisors if in doubt about whether the product
LOW HIGH
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will be at Moderately High Risk

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 A cut of your money
Does anyone deserve a cut
of your money for telling
you where to invest?
Dhirendra Kumar

I
want to tell you a little more
about the forthcoming Value
Research Premium service
that is about to be launched,
but I’ll start at the other end,
at one of the most unfair things
about the financial-services indus-
try. In fact, this is not just an unfair
thing but a downright immoral
thing, which is to make itself enti-
tled to a percentage of your wealth.
Fund management, fund distri-
bution and, for the most part,
financial intermediation of all
kinds are based on the strange idea
that they are entitled to a percent-
age of your money. Think about it.
You spend years to earn money.
Perhaps part of it is an inheri-
tance which your parents have
spent years accumulating. Now
you go to someone who is selling
mutual funds. It could be someone
of any scale from a large bank to
an individual down the road. You
get a little bit of guidance as to
where to invest. Maybe it’s good
advice; maybe it’s not. You have no
way of telling because the guid-
ance is given to you in private and
you have no access to the track
record. It’s possible – even likely –
that the guidance is more guided
by the business interests of the
advice giver.
Anyway, you invest your money
in the funds that you have been told
about and then this funny thing hap-
pens: now the organisation and/or
the person who guided you has
become entitled to a percentage of
the entire sum of money. It’s a frac-
tion of a percentage of the total
amount every year but that accumu-
lates to quite a bit over the years.
However, the fundamental unfair-
ness and immorality of it is that
instead of being in proportion to
what you get, it is in proportion to
what you have, what is basically
your money.
An alternative
The alternative is simple: a service
that comes from an organisation
with a track record and which
charges a fee that is proportionate to
what it gives you, not what you have.
That’s Value Research Premium,
which has now been launched after
many months of preparation. Of
course, we are not an advisory ser-
vice. Instead, we are a specialised
research and technical service
which can be used by any motivated
mutual fund investor to eliminate
the need for a traditional advisor.
Essentially, the route that you
could take is to use Value Research
Premium and combine it with
direct transactions carried out with
the fund company and thereby
eliminate the need for any tradi-
tional intermediary. This was not
possible in an earlier time – a lot of
things had to fall in place for this to
become possible but all that has
now fallen in place, and we’re ready.
Many of my readers are by now
familiar with the outline of what
Value Research Premium is all
about but for others, let me recap.
Are you premium?
While a certain proportion of our

14 Mutual Fund Insight December 2020

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members can get by without our
premium service, for a majority of
you the core set of capabilities that
Value Research Online (non-premi-
um) has are not enough.
You are one of these members
who need more if:
z You want to make sure that your
life’s financial goals are achieved.
z You want to make sure that your
mutual fund investments will
ensure that these goals are achieved.
z You do not have the time to do all
the background work to do this
yourself.
If all this is true for you, then you
should become a member of Value
Research Premium. We have a big
list of features and tools that we
have created for Value Research
Premium but those are just the road
we have built for you: the destina- portfolios that are suggested to you that will serve members with the
tion of this road is the attainment as part of your premium member- best outcomes.
of your life’s financial goals. ship. The algorithm that we have Portfolio Assist: Only a few members
And how are we going to do that? evolved takes into account a large are starting their investing from
It’s a process that has four parts to it: number of factors that impact any scratch. For most of you, a big ques-
z Provide a way for you to articulate savers’ finances and goals. tion is whether your existing invest-
your goals clearly. Analyst’s Choice: Often, investors ments fit into your goals? This is
z Suggest a set of investments and a want to choose their own funds often a hard question to answer
pattern of investments for those for some particular investment because there are a lot of implica-
goals. purpose. There are about 1,800 tions of switching old investments,
z Verify that your existing invest- available to you and even with the not the least of which is taxation. In
ments fit the goals and suggest help of our rating system, it’s a the Premium system, you can get
changes if they do not. lot of work to zoom in to the right guidance and research that is based
z Continuously monitor your invest- set. However, that won’t be a prob- on our expert teams’ work.
ments to make sure they are head- lem for you because as a Premium
ing for your goals, suggest changes member, you will have access to A lot more
if any are required. Analyst’s Choice. Instead of the 36 Of course, those are just headline
I’ll guide you to a detailed list of official types of funds, we have features. There are a lot more that
the features that we have integrated created eight investor-oriented will help you keep track of your
into Premium which is on the web- categories which match precisely investments, returns, diversifica-
site but here’s an overview of those with the financial goals that inves- tion, taxation and practically every-
which directly work towards meet- tors have. In each of these, my thing else that will help you achieve
ing your financial goals: team of analysts and I have care- your financial goals. As you read
Portfolio Planner: These are custom fully selected a handful of funds this issue, Value Research Premium
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 INSIDE FUNDS

Funds in action
Across funds, portfolios tell you a lot about sectors and companies
Steep rally, limited interest Most bought and
The net flows in Nifty/Sensex ETFs and index funds have remained sold stocks by funds
subdued as the market raced over the last few months.
z Net sales (` cr) z Sensex
between August and
12,000 45,000 September 2020
In ` cr
10,000 40,000
Large caps
8,000 35,000 BOUGHT
Bharti Airtel 3,159
6,000 30,000
Maruti Suzuki India 1,106
4,000 25,000 Tata Consultancy Services 878

2,000 20,000
SOLD
Hindustan Unilever 1,500
0 15,000 State Bank of India 1,090
Jan 2020 Sep 2020
Kotak Mahindra Bank 970

Mid caps
BOUGHT
Laurus Labs 1,500
Zydus Wellness 598
MindTree 456

SOLD
Reliance Industries: Profit booking? Hexaware Technologies 1,673
As Reliance’s stock has touched an all-time high, the number of shares Wabco India 1,020
held by funds has fallen since March 2020.
Bharti Infratel 504
z Shares (lakh) z Price (`)
4,000 2,500
Small caps
3,500 BOUGHT
2,000
3,000 EPL 878

2,500 1,500
GMM Pfaudler 327
Aarti Drugs 267
2,000
1,000 SOLD
1,500
Mahindra CIE Automotive 100
1,000 500
Future Retail 64
500
APL Apollo Tubes 47
0
0
Sep-17 Sep-20

16 Mutual Fund Insight December 2020

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Nestle: The popular choice Crossing the border
Among top FMCG stocks, Nestle has seen an exponential rise in International equity funds are gaining
the number of funds invested in it over the last three years. in popularity as seen through their
Rebased to 100 AUM over the last three years.
450 In ` ’000 cr
400 Nestle India Sep 2017

350
Dec 2017
300

250 Dabur India Mar 2018

Godrej Consumer
200 Products
HUL Jun 2018
150 Britannia
Industries
100 ITC
Sep 2018
50
Sep-17 Sep-20

Dec 2018

Mar 2019

Jun 2019

Sep 2019

Dec 2019

Mar 2020

Jun 2020

Sep 2020
Credit-risk funds: All underground 0 2 4 6 8 10 12
Credit-risk funds have yet to see positive net flows over the last one year.
Net flows (` cr)
0

-5000

-10000

-15000

-20000

-25000
Sep-17 Sep-20

Mutual Fund Insight December 2020 17

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 FUND RADAR

The rise
of ETFs
Exchange-traded funds have started to
gain traction in India. Here’s how you
can pick one.

A
chieving significant growth and several
milestones, exchange-traded funds (ETFs) are
steadily strengthening their foothold in the
mutual fund industry. Since actively managed funds –
especially large caps – have been struggling to beat
their respective benchmarks for quite some time, these
funds have been able to catch investors’ attention.
An ETF is a diversified basket of securities that track
a particular index and is traded on an exchange in real
time, like an individual stock. Also, like any other
stock, an ETF can be bought and sold throughout the
trading day. In the Indian market, the first ETF was
launched by Benchmark Mutual Fund in December
2001 and it tracked the Nifty 50 Index. So, the concept
of ETFs is not new in the market. However, they have
gained popularity recently.
Over the last five years, while the assets managed by
equity mutual funds have grown at a rate of over 20
per cent per annum, equity ETFs – in spite of having a
smaller base – have witnessed a massive growth of over
89 per cent year on year. The graph titled ‘Gaining
momentum’ shows the year-on-year growth rate of
assets managed by ETFs as against those managed by
actively managed equity funds. In August this year,
assets managed by the ETFs tracking the Nifty 50 Index
crossed the milestone of `1 lakh crore, while the total
assets managed by all ETFs stood at over `2 lakh
crore. Although investing in ETFs is still at a nascent
stage in India, it is gaining notable momentum on the
back of several facts, including:
Government’s involvement: ETFs came to the forefront in
2014 when the government took the ETF route (CPSE
ETF) for disinvestment. Again since 2015, the
Employees’ Provident Fund Organisation (EPFO) has
been increasing its stake in ETFs. All these factors led
to the growth of Indian equity ETFs.
However, since EPFO mainly invests in one-two
ETFs, one can clearly see the skewness in assets
managed by ETFs. The top three ETFs manage about 70
per cent of the total assets managed by all equity ETFs.

18 Mutual Fund Insight December 2020

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.HPUPUNTVTLU[\T
Although assets managed by ETFs are smaller than those of equity
funds, their annual growth rate outperforms that of equity funds.
100 % Equity ETFs Actively managed equity funds
80
60
40
20
0 Large cap
Last 15 years Last 10 years Last 5 years Last 3 years Last 1 year
Actively managed equity funds exclude ETFs, index funds and FOFs. All data as of
September 2020.
Underperformance of active mutual funds: With the majority
of equity mutual funds underperforming as against
their respective benchmarks, the debate on active vs.
passive funds has been raging for a few years.
Therefore, investors have been moving to low-cost
alternatives, such as the index funds and ETFs, in
order to earn higher returns.
The ETF universe
As of September 2020, the Indian market had 93 ETFs
across various asset classes. Equity ETFs are the most
popular and manage assets of over `1.74 lakh crore
across 73 schemes. These are followed by debt ETFs
that manage assets of over `30,500 crore and gold ETFs
with an AUM of over `13,400 crore.
Amongst the equity ETF universe, a few categories
have wider acceptance than others (see the graph
‘Concentrated presence’). For instance, large-cap ETFs
manage assets of over `1.46 lakh crore, accounting for
84 per cent of the total assets managed by all equity
ETFs. There are two main reasons why some particular
categories of equity ETFs are more popular than others:
z Although the concept of ETFs has been there for
quite some time, these funds have recently started
gaining investors’ interest. Quite obviously, the
universe of this category is confined, with limited
flows into some particular categories. However, with an
increase in the participation of retail investors, the
industry is likely to come up with more product
variants and more categories are likely to gain
investors’ favour.
z Another major issue faced by ETFs is that these funds
can replicate an index based on the liquidity of
underlying stocks. Since only the stocks in broad-based
indices tend to be liquid, ETFs have mainly been limited
to broad indices. Some large-cap indices, such as the
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
*VUJLU[YH[LKWYLZLUJL
Since some particular indices are easier to replicate, fund houses tend to
have more ETFs based on those.
48 No. of ETFs
12 13
Banking Others
Others include equity categories, such as international equity, large & mid cap, mid cap,
multi cap and sectoral ETFs like infrastructure, technology, consumption and PSUs. All
data as of September 2020.
Nifty and Sensex, have highly liquid stocks. So, they can
support large-size ETFs and easily deploy the additional
money on a day-to-day basis. But as we go down the
market cap, replicating the indices gets challenging as
their underlying stocks are not highly liquid.
Selecting the right ETF
Since ETFs are passive products that track the index,
there is not much difference in the portfolios of two
ETFs tracking the same category and index. So, when it
comes to choosing the right ETF, investors should
consider the following factors:
Expenses: It should be the first consideration. The low-
cost feature of ETFs has made these funds more
popular than their actively managed counterparts. So,
make sure that you are not paying much for your ETFs.
Tracking error: The entire success of ETFs hinges on how
efficiently they manage to replicate the index. The
difference between the returns of an index and an ETF
is captured by the tracking error of the fund. Hence, go
for funds with low tracking error.
Liquidity: When it comes to investing in an ETF, it is
equally important to exit it as and when required. So,
as a retail investor, it is important for you to ensure
that ETFs have enough liquidity. Therefore, you must
check whether or not an ETF trades on the exchange
daily with a fairly high trading volume.
Price and NAV difference: Make sure that the prices at
which ETFs trade are closely aligned with their NAVs.
Usually, when checked on a daily basis, there is little
difference between these two. Nevertheless, several
factors, including the demand for ETFs, may widen the
difference, which can hurt the interests of investors as
they will end up investing at very high prices.
An ETF that largely meets all the aforesaid criteria
should be the ideal choice.
Mutual Fund Insight December 2020 19
 FUND RADAR
F
ranklin Templeton Mutual Fund announced the
voluntary wind-up of six of its schemes on 23rd
April. The AMC cited the significant fall in
liquidity across the debt market owing to COVID-19
and the subsequent lockdown as the reasons for the
decision. These six schemes included Low Duration
Fund, Ultra Short Bond Fund, Short Term Income Plan,
Credit Risk Fund, Dynamic Accrual Fund and Income
Opportunities Fund. A lot has happened since then. We
have been updating all the events in this saga in the
‘Newswire’ section on www.valueresearchonline.com.
Do check it for a complete timeline of the various
events so far.
Amid all the noise, litigations, allegations and
clarifications, we have tried to draw a broad picture
and derive answers to two main questions that every
Franklin investor has:
What has been the repayment scenario in the
various affected schemes so far?
Overall, the suite of six yield-oriented funds has been
able to make recoveries at a decent pace. Perhaps, there
are some concerns in Franklin India Short Term Income
Plan. Our repayments analysis is inclusive of the
interest rate reset and put option dates as and where
specified in the fund house’s disclosures.
Across all the funds, some group issuers, including
Future Group, Reliance-ADAG and Edelweiss Capital,
20 Mutual Fund Insight December 2020
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The Franklin
crisis: What’s
up?
Here is an overview of how the six
shuttered funds of Franklin Templeton
stand in terms of recoveries and
credit quality
have caused some pain. While Future Group and
Reliance-ADAG defaulted on their obligations, the
payment from the Edelweiss group securities was
delayed on account of a maturity date reset from June
2020 to June 2022. Different funds had different
exposure to these securities. So, the repayments were
impacted differently. Essel Group also defaulted on its
payments in May. However, the fund house managed a
partial recovery.
How has credit quality of the holdings of the
affected schemes progressed?
When it comes to the credit quality of outstanding
bonds, most funds have witnessed more downgrades
than upgrades. Rating downgrades have been across
groups like Edelweiss Capital, Shapoorji Pallonji,
Vedanta, Sadbhav and Future Group. Noteworthy is the
fact that the bonds of Future Group stand completely
marked down to zero in the current portfolio. This
affected different funds differently. Currently
downgraded below the investment grade, most of these
securities were downgraded on more than two counts
in the last six months.
Overall, the good thing is that no other outstanding
bond slipped below the investment grade in these last
six months. Vodafone Idea (security held in the
segregated portfolios of five of six funds), which was
already below the investment grade, was downgraded a
notch lower. As for the upgrades, they were largely
across securities of three group issuers – A V Birla,
(<4HUKJHZOSL]LSZ
Here is how the AUMs of the six shuttered schemes stand now as com-
Kedara Capital and Multiples PE.
pared to when they were closed. The decline in the AUM is due to write-offs.
Let’s understand how each of the funds stands now
AUM as on April 23, 2020 AUM as on October 29, 2020 Cash status*
with respect to recoveries, upgrades/downgrades and
their latest credit profiles. 3,527 AUM in ` cr
Credit
Risk Fund 5%
3,481
Franklin India Ultra Short Bond Fund
With an AUM of `10,066 crore, this fund is the biggest 2,541
Dynamic
among Franklin Templeton’s six shuttered debt funds. Accrual Fund 20%
2,475
It has had smooth progress on repayment as it has by
and large received payments on time. Of the 30
Income 1,855
securities scheduled (as per the portfolio disclosures) Opp Fund –
1,631
for repayment in the last six months, the fund has
already received payments from about 28. This helped
Low 2,389
the fund collect `4,380 crore. While most issuers 25%
Duration Fund 2,485
made full payments, few made part payments.
Moreover, the fund received part payments (as per
Short Term 5,658
issuance terms) of `180 crore from a few securities –
Income Plan 5,304
across groups like India Shelter, UP Power
Corporation and Xander. The fund also sold securities
9,679
of ICICI Bank on 28th April, which were originally Ultra Short
42%
Bond Fund 10,066
scheduled for maturity in March 2022.
This was the first fund to achieve the cash-positive *Net cash available after repayment of borrowings
status. Its outstanding portfolio is currently about 23
per cent in A+ and below-rated bonds, 35 per cent in Franklin India Credit Risk Fund
AA rated and with only negligible in AAA rated. Bonds Following the repayment of the borrowings, this fund
downgraded in the last six months accounted for about turned cash positive in August. The repayments for this
18 per cent of the portfolio as on 23rd April. These fund have largely been as per schedule. Of the 16
bonds are mainly spread across three group issuers: securities that were due, 10 were able to repay a total of
Edelweiss Capital, Clix and Punjab National Bank. `683 crore. The remaining six securities that have not
repaid accounted for about 3.7 per cent of the portfolio
Franklin India Low Duration Fund at the time of winding up. Since these six securities
This fund has seen on-time action in almost all the were relatively small holdings, repayments were not
securities due for maturity in the last six months. hugely dented. As a result, it appears that a bulk of the
Additionally, part payments as per issuance terms and money has already been received. The fund also
prepayments were also received across securities from received part payments of about `18 crore (as per
groups like Esskay, Nirma, UP Power Corporation, issuance terms) from groups like Renew and Vedanta.
Renew, Sterlite Power Grid Ventures of the Vedanta The outstanding portfolio (as on October 29) has
group and Xander. This enabled the fund to collect about 0.3 per cent in AAA rated bonds, 59 per cent of
`224 crore. In this cash-positive fund, Renew, JM the portfolio in A+ and below-rated bonds and 35 per
Financial and Vedanta account for the major group- cent in AA rated ones. Going by the exposure as of April
wise holdings of 16,14 and 9 per cent, respectively. 2020, about 13 per cent of the portfolio has been
The fund is about 44 per cent invested in A+ and downgraded, while 6 per cent has been upgraded.
below-rated bonds, with 29 per cent in AA rated ones. Outstanding securities of Future Group that accounted
This is only for the bonds that are still outstanding. for about `117 crore, i.e., 3 per cent of the April
The securities that have been downgraded accounted portfolio, stand completely marked down.
for about 11 per cent of the April portfolio. None of the
outstanding bonds in the portfolio have witnessed Franklin India Dynamic Accrual Fund
rating upgrades in the last six months. Franklin India Dynamic Accrual Fund is the fourth

Mutual Fund Insight December 2020 21

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 FUND RADAR
*YLKP[YH[PUNIYLHR\WVM[OLV\[Z[HUKPUNIVUKZPU[OLZP_ZJOLTLZ
59.26
40.49
38.55
34.58
0.31 0.02
Credit Risk Fund Dynamic Accrual Fund
AA includes AA+, AA and AA-. The credit break-ups of Income Opportunities Fund and Short Term Income Plan exclude borrowings.
among the cash-positive schemes. In the last six
months, 20 securities were due for maturity. Of these,
the fund received full or part payments worth about
332 crore from 14 securities.
But the silver lining is that the fund also received
prepayments worth `105 crore from Hero and Jindal
group. Additionally, it received part payments of about
`32 crore from as many as seven securities. The AMC
stated that these payments had been as per issuance
terms. Securities that were behind schedule and also
didn’t make any part payments held about `190 crore
as per valuations on April 23.
The credit quality of the outstanding portfolio is
roughly 40 per cent each in AA and A+ and below-
rated securities. Bonds of Future Group are currently
marked down to zero but accounted for about 5 per
cent in the April portfolio.
This `2,475-crore fund witnessed downgrades across
18 per cent (going by valuations on April 23) of the
outstanding portfolio. About 2.5 per cent of the
portfolio saw rating upgrades.
Franklin India Short Term Income Plan
With an AUM of `5,304 crore, this is the second biggest
fund among the six shuttered funds. Prima facie, it
looks like this fund is struggling quite a bit in terms of
repayments. Of about 26 securities due for maturity till
October, only 16 were able to pay back either in full or
partly.
The remaining, which did not turn up, included
Edelweiss Capital securities valued at `343 crore
currently, Piramal securities valued at `45 crore and
Reliance-ADAG at `13 crore (after the haircut).
Together, they account for about 7 per cent of the
current portfolio.
22 Mutual Fund Insight December 2020
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
64.30 In %
AAA
56.17 AA
A+ and below
43.83 44.49
35.56 34.90
28.67
22.85
– – 0.14 0.02
Income Opp Fund Low Duration Fund Short Term Income Plan Ultra Short Bond Fund
This fund currently has about 18 per cent of
borrowings. As for the credit quality break-up, this
fund has majority exposure, i.e. 64 per cent to
securities rated A+ and below and about 35 per cent in
those rated AA. The securities of Future Group are
currently marked down to zero but accounted for
around 8 per cent at the time of winding up.
This fund observed rating downgrades across
several of its holdings spread across seven groups. All
of this together made up for over 25 per cent of the
April portfolio. However, 9 per cent has already seen
rating upgrades.
Franklin India Income Opportunities Fund
The smallest of the six funds, this fund is still paring
down its borrowings, which currently account for
about 30 per cent of the AUM.
It has seen the least activity as only three securities
were due for maturity in the last six months. Of the
three securities, one was of Reliance-ADAG and two of
Tata group. The fund received payments of about `68
crore from Tata group. Further, the securities of Renew
and Vedanta group made part payments (as per
issuance terms) worth `12 crore.
The currently outstanding bonds have 56 per cent
exposure to AA rated bonds and 43 per cent to those
rated A+ and below. Securities of Future Group that
are currently downgraded to the below investment
grade are marked down to zero but had around `240
crore exposure, making up for about 13 per cent of the
April portfolio.
As per April valuations, about 26 per cent of the
overall portfolio, accounting for `490 crore, has been
downgraded as against 5 per cent, i.e., `97 crore that
has been upgraded.
 Mutual Fund Insight December 2020 23
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Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
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 SPOTLIGHT Aniruddha Naha Senior Fund Manager, PGIM India Mutual Fund

‘We try to stand out of the

crowd to build our portfolio’

A
t a time when many funds have found it difficult to beat
their respective benchmarks, PGIM India Diversified
Equity (a multi-cap scheme) and PGIM India Midcap
Opportunities have outperformed their respective cate-
gories and benchmarks over the last one year.
We speak to Aniruddha Naha, the fund manager of both these
funds, to understand what has helped him outperform. He also
answers questions on the recent rally in the market, economic
recovery, how he manages his funds, among others.
Naha also hints at how his multi-cap fund will be positioned
after SEBI’s introduction of the flexi-cap category.

How do you see the mismatch between the markets, which are
reaching new heights, and a languishing economy?
There is absolutely no doubt that there are pain points in the economy.
The kind of slowdown we saw in the April to June quarter will take a
little bit of time to recover. Having said that, I think the across-the-board
recovery that we have seen since July has surprised many.
Consumption across sectors, spending through e-com-
merce platforms, improvement in the collection
efficiency of micro-finance companies
from less than 60 per cent to about
90–95 per cent, etc. – all these data
points suggest that there is recovery
in certain sectors and segments.
Also, rural consumption has
really surprised and has been the
bellwether in this fall. We are
clearly seeing tractor demand
come up as monsoons have
been good, along with the con-
certed effort of the govern-
ment to push money towards
rural India. With the festive
season coming up, we expect
this quarter to be good and
the trajectory for recovery
to continue incrementally.
FY22 should also see a
good recovery owing to a
lower base in FY21 and

26 Mutual Fund Insight December 2020

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hence I think the markets are discerning and for- Our sectoral overweight positions on IT and pharma
ward-looking. were spot on. Given the uncertainty, we thought these
would give us some stability in the portfolio. Also, we
Your mid- and multi-cap funds have done were underweight on financials, which has helped us
exceedingly well this year. What would you attribute protect the downside. This was primarily because we
this to? don’t like too much of leverage on the balance sheet and
It starts with the process and the time when we started financials are the most leveraged businesses because of
building the portfolio – in early 2019. At that time, only their nature. It was among the most expensive and over-
30–40 stocks were driving the market, while the rest of owned sectors last year.
the market was literally dead and no one had any interest
in mid and small caps specifically. So, there was a bit of Since the start of this pandemic, have you made any
herding towards large-cap, well-known, good businesses. changes to your portfolio or have you stayed with the
An interesting thesis from the book called A Zebra in one before the pandemic?
Lion Country, probably one of the best books that I have Yes, there were changes, though the fundamentals and
come across on mid- and small-cap investing, thought process didn’t change. We break our portfolio
explains our approach. It draws parallels that into three parts. The top-end of the portfolio
fund managers, like zebras, generally fol- makes about 40–45 per cent. In this, we
low the herd as it gives them some
Our are looking for businesses which
sense of security against the lion. sectoral might not have too much of growth
But the problem is that since the overweight positions but there should be visibility of
zebras all herd together, the on IT and pharma were growth and there must be some
grass is never fresh or green as
spot on. Given the uncertainty, assurance of stability. So, any-
it is all trodden over. To get thing with 14-15 per cent
fresh grass, you need to stand
we thought these would give us growth visibility and stability is
out of the crowd and when you some stability in the portfolio. what we are looking here.
do that, you are taking certain Also, we were underweight For the middle-end, we look
risks – the risk of being attacked on financials, which has for growth companies with about
by a lion – but for that you get 20–25 per cent growth. We under-
rewarded as well. So, we try to
helped us protect the stand that if they disappoint, there
stand at the periphery or out of the downside. will be volatility and we are fine with
crowd to build our portfolio, being fully it. When we look at these businesses, we
conscious of the risks. prefer ones with strong operating cash flows
When we started building the portfolio with a during 70 per cent of the history of the company.
three-year view, being a small fund house, we could easi- The second thing we want from companies in this part
ly replicate the index and bring in the well-known names is clean balance sheets. And the third thing is no corpo-
in our portfolio. What we did was to look for businesses rate governance issues.
that we think would do well over the next three years. When we build the bottom 10–20 per cent of the port-
So, the resulting portfolio that we built was very different folio, we look for businesses which have strong operating
from the benchmark where both our funds have an over- cash-flow generation over the history of the business and
lap of less than 30 per cent vis-à-vis their respective clean balance sheets, but their P&L is impacted because
benchmarks and that has been the case throughout. they are at the bottom end of the business cycle, and
This clearly signifies that we were looking to find hence they are usually ignored. We take a conscious call
businesses that could do well in the next three years. whether it can recover over the next two-three years,
Each of these businesses had certain fundamental char- given the strong cash flows and the clean balance sheet.
acteristics. One is that they have historically demon- That is where we take a lot of uncommon calls. So, we
strated decent operating cash flows. Another is that they went overweight on pharma based on this. Frankly, we
don’t have too much of debt on their balance sheets. were lucky that a decent portion of the returns that we
And the last thing is that all of them actually fulfil the were expecting over the next three years have come
criteria of having proper corporate governance in place through in the past six months because of COVID.
with no prior issues. Similar was the case with IT, wherein we went over-

Mutual Fund Insight December 2020 27

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 SPOTLIGHT

weight because we believe digitisation and cloud spends out there. When you look at agriculture and chemicals,
have gone up dramatically in the US. So, what was sup- which have been stellar performers over the last few
posed to happen over the next six years in the adoption years, we still don’t have a large-cap name in them.
of cloud, digital and AI has happened in the last six Everything is in the mid- and small-cap space. So, we
months. Now the implementation of this is through can keep counting industries where you will have every-
Indian IT companies and hence for the first time, these thing in the mid- and small-cap space but the potential
companies are likely to see a decent amount of growth over the next five to 10 years can be humongous and
visibility over the next two-three years. hence the chances of these companies graduating into
Then we went ahead and picked auto and auto ancillar- mid and large caps are huge.
ies at the bottom-end of the portfolio again. Clearly FY20 Yes, there could be intermittent volatility in the mid-
was a very bad year but they had clean balance sheets, and small-cap space because of the liquidity and the
strong operating cash flows and we thought that again this nature of the business but if someone has a little lon-
was a sector that was completely unloved and our call was ger-term view, that is where returns can be made.
that over the next one-two years, the auto cycle will come
back to normal. And while today it might not have come Your multi-cap fund has a decent allocation to mid
back to normalcy, we are seeing signs of a revival. and small caps. And now SEBI has said that
multi-cap funds need to follow the
Over the past one-two years this We’ve revised asset allocation which gives a
portfolio construct has worked been a true-to- higher weightage to mid and small
pretty well for you particularly caps. So how do you see it? Is it
because mid and small caps sense multi-cap. All going to be easier for you to
have been seen a kind of through in the last few comply with the new
turnaround and you have a years, we have run the regulations?
decent proportion of it mid and portfolio with about 50–60 We always believe that a multi-
small caps in your multi-cap cap fund is supposed to have
portfolio. So, would you call it per cent large caps and the enough allocations to all the three
something which has happened rest of it has all been segments – large, mid and small
over this phase or is it a lasting mid and small caps. And this is what we have tried
phenomenon? caps. to incorporate in our fund. As we
We’ve been a true-to-sense multi-cap. speak, we are about 50 per cent in large
All through in the last few years, we have caps and the remaining 50 per cent is
run the portfolio with about 50–60 per cent large between mid and small caps. With the SEBI intro-
caps and the rest of it has all been mid and small caps. ducing the flexi-cap category, we are inclined to recatego-
Today as we speak, we are about 50 per cent in large rise the diversified fund as a flexi-cap. The decision on
caps and the rest in mid and small caps. If you look at this will be taken shortly.
the last five to 10 years, I think there have been quite a
few interesting businesses which have grown from small What are the triggers for you to exit a stock?
caps to mid caps and some very interesting businesses The first reason that we sell is the valuation. If the stock
which have grown from mid to large caps and that is is expensive, we will sell it irrespective of how good it
when a lot of wealth is created. Hence, we keep continu- is. There is a well-thought-out process wherein we look
ously looking for good businesses in the mid-cap and at the PEG ratio – P/E divided by the earnings growth
small-cap space. over the next three years. Wherever PEG moves over
There are some businesses in the market which have two, irrespective of how good the business is, we will
a huge potential over the next five to seven years and take a sell call. So, it is very objective and not subject to
they have absolutely no representation in the large-cap the emotions of the fund manager.
space. To give you an example, IT services companies Secondly, there are certain assumptions that are there
are large caps, but there is no IT product company in while buying a stock and holding a business. If any of
this space. When you look globally, real estate has a these change materially, we sell the stock. For example,
decent exposure in the markets, but India has a very if we bought a company that was a beneficiary of the
small exposure in real estate, with no large-cap names consolidation in its sector but later more players start

28 Mutual Fund Insight December 2020

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coming in, we may sell the stock. And thirdly, if we which is about 10 per cent of the portfolio and then we
realise that we have made a mistake in our assumptions, square it off, that adds to the turnover. Our prime objec-
we will sell the stock irrespective of a profit or loss. We tive for hedging is to protect the downside as far as pos-
will accept the mistake and go ahead and sell the busi- sible and to do that, we use the most liquid hedging
ness from the portfolio. futures – Nifty and Bank Nifty. Given the fact that our
fund returns have been inclusive of the hedging cost, we
Several fund managers go for quality stocks even if are fine with it as long as we are able to protect the
they have to pay a little extra for them. But you insist downside. Doing this 10–12 times a year invariably adds
on maintaining a PEG ratio below two. to the turnover in the portfolio.
Our philosophy is to buy businesses that are reasonably
priced. We believe that to make returns in a stock, there Is there any role that the parent Prudential Financial
are two parts: earnings growth that will drive the stock plays in investment management, for instance,
price and the chance for a P/E rerating if the stock is transfer of any best practices or risk-management
bought at a reasonable valuation. Both these together practices?
give the biggest amount of returns. When we are buying Given the fact that the parent firm is in insurance, risk
an expensive, good-quality business, no doubt is something that is always there at the back of
that I am ensuring that the first part is our mind. There are active discussions
there but the chances of a P/E rerating We with the parent firm on a monthly or a
are very less. So, given a chance believe that to quarterly basis that go on with a
where I have a great business at
make returns in a focus not just on returns we are
expensive valuations and a good generating but also what is the
business at a reasonable price
stock, there are two parts: return per unit of risk that we are
with earnings growth and chanc- earnings growth that will taking. Jennison Associate, an
es of P/E rerating happening over drive the stock price and the arm of Prudential, is a global
the next two-three years, I would chance for a P/E rerating if powerhouse in terms of research
always go for the second. and that has really helped us
the stock is bought understand incremental trends
Both your funds seem to have a at a reasonable taking place globally. Sitting in
fairly high turnover ratio. What’s valuation. India, we might not be able to dis-
contributing to that? cern trends fast, but the parent team,
The primary reason that increases the turn- along with interactions with Jennison
over is the valuation framework based on the PEG Associate, helps us understand the trends and
ratio that I talked about. We like to buy businesses with their pace of adoption. So, that has definitely helped us.
PEG below one as far as possible or maybe up to 1.2 times It helps in building our portfolio and keep validating the
and then we sell above two. In the last one and a half previously discussed framework continuously.
years, there have been many cases where stocks have run Other than that, we have good-quality offshore prod-
up dramatically without earnings change happening. Thus, ucts and that is another of our parent’s strengths that we
the PEG has hit 2–2.5 within three-four months and there are leveraging. We have PGIM India Global Equity
we had to take a conscious decision based on the frame- Opportunities Fund, which feeds into PGIM Jennison
work to sell the stock. Global Equity Opportunities Fund. The second fund is
The second reason is that we build a portfolio with PGIM India Emerging Markets Equity Fund, which feeds
about 40–45 stocks and our team has been very good at into PGIM Jennison Emerging Markets Equity Fund. So,
generating ideas in the last 1–1.5 years. So, it has been this is a complementary product to the one already
the fight amongst the best 40–45 businesses for making existing. The former is more a developed-market prod-
it to our portfolio. A very good replacement for the next uct, while the latter would cater to a lot of interesting
two-three years will eliminate some of the existing busi- businesses in the emerging markets.
nesses in the portfolio. So, that’s where the relationship lies. They keep a
Lastly, tactically we try to hedge about 5–10 per cent track of what we do but they have given a complete free-
of our portfolio whenever we see a risk emanating. So, hand in how we run our business as long as we are run-
let us say if we take a futures position twice a month, ning it within the defined parameters.

Mutual Fund Insight December 2020 29

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 PORTFOLIO MOVES quant Active Fund

A class apart
In a difficult business and investment environment, the fund has outperformed
the category and the index by a wide margin
Beating the index One-year returns (as on November 10, 2020)
1200 Fund S&P BSE 500 TRI 18.83% 7.40 5.10
Fund S&P BSE Multi-cap
1100 500 TRI category
1000

900
Fund portfolio
Large caps Mid caps Small caps Cash
800
Fund 21.75% 17.66
54.85 5.74
700 Rebased to 1,000
Index 77.74% 17.02
5.06 –
600
November 2019 November 2020 Average stocks in the portfolio 28

Sector weights as Fund managers Investment strategy

compared to the index The fund has been managed by The fund invests according to a
Overweight Chemicals, Ankit A Pande (since May 2020) framework called ‘VLRT’ (described
communication, construction, and Sanjeev Sharma (since October on the next page). It identifies the
diversified, FMCG, healthcare, right sectors through the top-down
2019).
metals, services, textiles analysis and then dives further to
Underweight Automobiles, consumer identify the right stocks.
durables, energy, engineering,
financial, technology

Worked Failed Top bets New entrants

1.25 -0.62 9.51 2.87
Stylam Industries Bandhan Bank Stylam Industries ICICI Securities

0.97 -0.43 6.92 2.83

Majesco Bharat Heavy Electricals Majesco Ultratech Cement

0.91 -0.35 5.67 2.29

Neuland Laboratories Caplin Point Laboratories Bharti Airtel KPR Mills

0.72 -0.34 4.44 2.25

Indiamart Intermesh Deepak Fertilisers PTC India Financial Services Infosys

0.46 -0.31 4.35 1.25

Strides Pharma Science CreditAccess Grameen Bharat Rasayan Bajaj Auto

Successful stocks with gains Losing stocks and the amount of Top holdings with the asset Stocks added during Sep ’20, with
(` cr) during Nov ’19–Oct ’20 losses (` cr) during Nov ’19–Oct ’20 allocations (%) as on Oct 31, ’20 asset allocations (%)

All values are estimates derived from monthly portfolio disclosures. The fund has net assets of `81 crore as on October 31, 2020.

30 Mutual Fund Insight December 2020

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 QUICK CHAT Sandeep Tandon, CEO & CIO, quant Mutual Fund
‘Traditional methods will not garner
outperformance in choppy environments’
Over the last one year, your quant Active Fund has
outperformed the category and the benchmark by a
wide margin. What’s responsible for this?
In our publication Being Relevant, we spoke about the
onset of the Volatility Expansion Phase in 2018 and we
expect this to last up to 2023. For the world, the year
2020 has been hyper volatile and we have witnessed
extremes in the global financial markets within the past
few months. quant is a macro-centric organisation and
through our multi-dimensional research, we are able to
identify a risk-on/risk-off environment. With the preva-
lent choppiness in the markets, we believe that it was
imperative for us as money managers to shift to a
dynamic style of money management. In our opinion,
traditional methods will not be able to garner outperfor-
mance in choppy environments and the dynamic
style of money management will prevail in
the years to come. Over the last one year,
this active money management has
helped us in identifying the right sec-
tors and stocks for our schemes.
What’s your stock-selection
criteria? When do you exit a stock?
We have a four-piece framework –
VLRT.
V – Valuation Analytics: Knowing
the difference between price and value
L – Liquidity Analytics: Understanding
the flow of money across asset classes
R – Risk Appetite Analytics: Perceiving what drives
market participants to certain actions and reactions
T – Timing: Being aware of the cycles that govern
how the other three dimensions interact
Within our investment framework, we identify the
right sectors through our top-down analysis and then
dive further to identify the right stocks. We have been
calling our research as ‘multi-dimensional’ and this is
because we encompass any and every relevant data
point into our research. Our framework doesn’t com-
prise only valuations; rather, that’s only a third of the
framework. This, coupled with the additional two-
thirds of the framework, i.e., Liquidity Analytics as
well as Risk Appetite Analytics with the omnipresent
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
Timing element, helps us capture the entry and exit
points of a stock.
Your fund is heavy on small caps and resembles a
small-cap fund with its allocation. How suitable is this
for a multi-cap investor who is looking for a balanced
exposure across market caps?
Given the newly laid-down regulations in the multi-cap
segment, we believe that fund managers have the flexi-
bility to overweight a certain cap based on their views.
It is mandatory for every multi-cap scheme to have an
allocation of 25 per cent in large caps, mid caps and
small caps respectively. Currently, our large-cap expo-
sure stands at about 23 per cent and the mid-cap expo-
sure stands at about 20 per cent, which is very close to
the required 25 per cent. Yes, we are skewed
towards small caps! Since the end of March
2020, we increased our exposure towards
small and mid caps as the quant risk
appetite indicator was at an all-time
low and the quant liquidity indicator
was at a 52-week high. This served
as a lethal combination for a bull
run in mid- and small-cap stocks.
From your September-end portfolio,
it appears that you have made quite a
few changes. What are the factors
driving those?
Our views are continuously revisited on the basis
of the macro environment. Based on our view, we rebal-
ance our portfolio to pick out the right sectors and iden-
tify stocks based on risk-on and risk-off environments.
What would you say to your investors who have had a
good return experience from your fund over the last one
year but are anxious about the market peaking?
quant’s models are based on an in-depth study on
behavioural finance. We track any euphoria build-up in
stocks, sectors or asset classes and prune our exposure.
Similarly, we spot opportunities when there is a capitu-
lative move in particular stocks, sectors or asset classes
and increase our exposure. Therefore, we dilute the
potential of extreme moves in our portfolio.
Mutual Fund Insight December 2020 31
 COVER STORY

Diversification
How to get it right
Too many funds in your portfolio can increase
the hassle of managing it, without contributing to
better diversification

32 Mutual Fund Insight December 2020

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Omkar Vasudev Bhat
I
n his treatise the
Arthashastra, Chanakya
suggested a method to
reduce the loss caused by
the theft of high-valued
items. In those times, the
market for high-valued goods
barely existed and their export
used to be highly risky. He said
that such items should not be
shipped together. Rather they
should be distributed across
several shipments and with other
regular items. So, even if dacoits
plundered a batch of shipments,
the loss would be contained.
Indeed, Chanakya was talking
about diversification.
Diversification is one of the
most important elements of the
investing process. Simply put, it
means ‘don’t put all your eggs in
one basket’. This basic advice
makes sense as the opposite of it
would be clearly risky –
concentrating all your resources
in just one investment. What if
that one investment performs
poorly? What if it turns out to be
a disaster? Of course, there are
some savvy investors who profess
focusing because that enhances
the overall outcome, yet for most
investors, diversification remains
a sensible tool to reduce risk.
The next question is how
much diversification is enough.
Value Research has always said
that fund investors would do well
with just four-five funds in their
portfolio. But the reality appears
to be quite different. From
investor portfolios created on
www.valueresearchonline.com
and from the queries that we
receive, we have realised that the
average investor has far too many
funds. There are many reasons
for this, including chasing past
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
performance or some hot theme, had a 10-year history as the
not exiting poor performers, not sample universe. There were 28
keeping a tab on the portfolio, such funds. Next, we made
etc. But one reason that stands portfolio combinations from these
out is many investors feel that funds, with number of funds in
the more the funds they have, the the portfolios varying from two to
better the extent of eight. The table ‘Portfolio
diversification. combinations’ mentions the total
As we have long maintained, possible combinations.
adding more funds beyond a For each portfolio combination,
threshold contributes little to we considered a monthly SIP of
diversification but does increase equal amounts in each of the
the headache of managing the funds. This SIP was done for a
portfolio. In this story, we try to 10-year period. An annual
assess how many funds are rebalancing was done to ensure
needed for sufficient that all the funds in a portfolio
diversification. For that, we have combination have equal amounts.
done a comprehensive analysis, For simplicity, we excluded the
encompassing lakhs of datapoints. tax implications of the
rebalancing.
Methodology Finally, we calculated the
In order to assess how many returns for each of the resulting
funds are required to achieve portfolios and also their
sufficient diversification, we corresponding volatility, as
considered multi-cap funds that measured by standard deviation,
during the period. Here are our
findings.
Impact on returns
The graph ‘Return profile of
various portfolios’ shows returns
across various portfolio
combinations. The average return
from a two-fund portfolio is 11.80
per cent, while that from an
eight-fund portfolio is 11.85 per
cent. So, by diversifying more, do
you achieve better returns? Note
that there is a difference of just
No. of No. of 0.05 percentage points between
7VY[MVSPV funds combinations
the returns from the two portfolio
JVTIPUH[PVUZ 2 378
In our study, we combinations. That’s hardly
took 28 multi-cap 3 3,276 rewarding for the lot of extra
funds with a 10-year 4 20,457 work you will undertake by
history. They were
managing eight portfolios, which
divided in portfolios 5 98,280
comprising two to will also have to be rebalanced
eight funds. The
6 3,76,740
annually.
following 7 11,84,040 Also, understand that the
combinations were
possible. 8 31,08,105 major purpose of diversifying is
to reduce risk, not to boost
Total 47,91,276
returns. How do the various
Mutual Fund Insight December 2020 33
 COVER STORY
volatility, the average SD showed
9L[\YUWYVMPSLVM]HYPV\ZWVY[MVSPVZ a marginal reduction of 0.35
Here are the average returns from the various portfolio combinations. As suggested by the second percentage points as we moved
line, on adding more funds up to a point, one can reduce the probability of getting low returns. from a portfolio of two funds to
z Return average z Return average of bottom 10% eight funds (see the chart
11.80 11.82 11.83 11.84 11.84 11.85 11.85 ‘Volatility in various portfolios’).
12
In order to magnify this
10
9.99 10.21 10.38 10.20 impact, we looked at the most
Returns

9.26
8 8.48
6 through their top-quartile
4 average. The SD reduced from
2 about 17 per cent for a two-fund
0
2 3
portfolio combinations fare in
this respect? See the chart
‘Return profile of various
portfolios’. It compares the
average returns of various
portfolio combinations with the
average returns of the bottom 10
per cent performers. These
bottom 10 per cent represent the
worst-possible combinations to
invest over the last 10 years. If
you go wrong in your selection in
a two-fund portfolio, your returns
fall substantially (about 3.5
percentage points per annum
below the average for a two-fund
combination). But the cost of
9.69
volatile portfolio combinations
4 5 6 7 8 portfolio to about 16 per cent for
Number of funds in portfolio the eight-fund combination, a
drop of a full percentage point.
This suggests that adding more
outweigh the benefit from funds to your portfolio does
diversification. reduce volatility.
Also, it is worth mentioning
Impact on volatility here that major chunk of this
Another objective to diversify is drop happens up to a four-fund
to reduce portfolio volatility. portfolio and the quantum of this
When we look at the standard drop tapers significantly post that
deviation (SD), a measure of point. This suggests that beyond
a limit, adding more funds to
your portfolio doesn’t result in a
material reduction in portfolio
volatility.
Diversification across stocks
Many investors think that by
investing in more funds, they can
get to diversify across more
stocks. That would mean better
risk management. Is this right? To
assess this, we analysed three
=VSH[PSP[`PU]HYPV\ZWVY[MVSPVZ    
Adding more funds does help reduce volatility. This impact is better seen in the most volatile
portfolio combinations. However, this reduction in volatility tapers beyond a four-fund portfolio.
z Standard deviation average z Standard deviation average of top quartile
17.5
16.94 16.56
16.35
17.0 16.21
16.11 16.03
16.5 15.97
Standard deviation

16.0
going wrong reduces as you add 15.84
15.69 15.61 15.56 15.53 15.51 15.49
more funds to your portfolio. 15.5

However, this benefit diminishes 15.0

incrementally. Beyond four-five 14.5
2 3 4 5 6 7 8
funds, perhaps the complexity of Number of funds in portfolio
managing a big portfolio starts to

34 Mutual Fund Insight December 2020

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 GROWTH OPPORTUNITIES COME
IN ALL SHAPES AND SIZES
Fulfill your financial goals by investing in a Multi Cap Fund.

Contact your mutual fund distributor or

give a missed call on 8655097225.

0XOWLFDSSRUWIROLRVLQYHVWLQDFRPELQDWLRQRIODUJHPHGLXPDQG6PDOOFDSVWRFNVWKHUHE\
WDNLQJDGYDQWDJHRIRSSRUWXQLWLHVDFURVVWKHPDUNHW&RQVLGHULQYHVWLQJLQD0XOWL&DS
)XQGWRDFKLHYH\RXUORQJWHUPILQDQFLDOJRDO
MULTI CAP
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To know more log on to
SMS “UTIETY” to 5676756 Scan this QR code to www.utiswatantra.com
learn more about
asset allocation Follow us on

Multi Cap Equity Mutual Fund Schemes invest across large cap, mid cap and small cap stocks.
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ttps://www.utimf.com/servicerequest/kyc. Please deal with only registered Mutual funds, details of which can be verified on the SEBI website
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ALL SCHEME RELATED DOCUMENTS CAREFULLY.
 COVER STORY
many as six more funds.
*VUJLU[YH[PVUVM[VWOVSKPUNZ   What about the number of
The concentration of top 10 holdings reduces by merely 3 percentage points on average as one stocks? On average, the number
moves from a two-fund portfolio to an eight-fund portfolio.
of stocks in your portfolio would
z Average z Minimum
100 rise to 217 if you have an eight-
fund portfolio from about 82 in a
80
two-fund portfolio. At the least,
Net asset %

60 you would have 143 stocks in

40
40.8
27.2
20
0 The catch is if these stocks
2 3
parameters in the combinations
of multi-cap funds detailed
above: the sum of top 10
holdings, the total number of
stocks and the number of stocks
each making up less than 0.5 per
37.9 36.5 35.7 35.1 34.8
25.9 23.7 23.2 23.0 23.1
4 5 6 7
Number of funds in portfolio
cent of the portfolio. To be
conservative, we present to you
our observations on the portfolios
with the least amount of overlap.
Naturally, the results will be
magnified in the normal analysis.
Let’s first see the sum of top 10
holdings (see the chart
‘Concentration of top 10
holdings’). The top 10 holdings
account for at least about 27 per
cent of the AUM of two-fund
portfolios. This number stands at
about 24 per cent for an eight-
fund portfolio. So, when it comes
to the concentration of your top
holdings, there is a change of just
3 percentage points by adding as
34.5 your eight-fund portfolio (see the
23.7 chart ‘Number of stocks’). Better
diversification, isn’t it?
8 also command a sizeable AUM.
In an eight-fund portfolio, on
average, you would have as many
as 170 stocks, with each of them
commanding less than 0.5 per
cent of the total AUM. Analyse
this number against the 217
stocks you could have on
average. It means that while you
have more stocks by adding more
funds, most of them will simply
belong to the tail of your
aggregate portfolio and hence
won’t contribute meaningfully to
your returns. Nor will they help
you reduce volatility
significantly.
In a two-fund portfolio, you
could have just 25 stocks on
average, each of which would
constitute less than 0.5 per cent

5\TILYVMZ[VJRZ
By adding more funds, one can diversify across more stocks but these stocks tend to comprise the inconsequential tail of the aggregate portfolio.
z C2 z C3 z C4 z C5 z C6 z C7 z C8
217
200
181
170
160
151
138 143
127 130
112 109 106
91 92
82 82 78
72
58 53 56
40 37
25 19
0 4
Average Minimum Average Minimum
Total no. of stocks in portfolio No. of stocks with net asset < 0.5% (each)
Note: ‘C’ stands for combination of fund portfolios

36 Mutual Fund Insight December 2020

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of the AUM. The minimum
would be zero in such a portfolio.
From this, we can conclude
that with an increase in the
number of funds, you may end
up holding more stocks but the
concentration is still limited to
your top holdings. So, they can
move your aggregate portfolio in
either direction. Also, you will
have a longer tail of
inconsequential holdings which
won’t contribute meaningfully to
your portfolio’s performance. On
the contrary, their dead weight
could possibly hurt the
performance of an otherwise
promising portfolio.
Conclusions
The study above shows that in
order to achieve sufficient
diversification and enjoy its
fruits, it’s enough to invest in
four-five funds. Any number
beyond that will simply add to
your work, without meaningfully
contributing to your return or
reducing the risk. If you are a
new investor and have a limited
surplus, even one fund is enough.
Do understand that a fund
portfolio is not like a stock
portfolio. While you must own
15–20 stocks to diversify well in
a stock portfolio, for a fund
portfolio, four-five funds are just
fine. Don’t forget that each of
them is a cluster of several
stocks, so you are actually
investing in all of them.
Also, your returns are driven
by the quality of your selection,
not quantity. Keeping a tab on
the performance of the funds in
your portfolio, exiting the poor-
performing ones, timely
rebalancing, disciplined
investing – all of these are
instrumental to your portfolio’s
performance. It’s not about the
number of funds or the hottest
new theme or timing your entry
and exit.

/V^[VYLK\JL[OLU\TILYVMM\UKZPU`V\YWVY[MVSPV
If you also have more than four-five funds in your
portfolio and want to reduce the number, here is
some help:
Exit the underperformers: First, find out funds in
your portfolio that have been underperforming for
quite some time now and exit them. However, short-
term underperformance should not be the reason to
sell. Take into account long-term performance vis-à-
vis the category. Assess the performance across
cycles.
Sell the fancy ones: If you have loaded up on some
thematic or sectoral fund, you may want to give it
another thought. Such funds ride high on some short-
term trend but as the enthusiasm fizzles out, so does
their outperformance. They also provide limited Cut the tail: If you have many funds in which you
diversification as they focus on a sector or theme. For have meagre capital, you may want to exit them and
most investors, plain vanilla diversified funds are direct their corpus to the remaining funds.
good enough. Follow the core–satellite approach: Have two-three
Cull the duplicates: If you have multiple funds of the multi-cap funds as your core holdings and any other
same kind, you may want to keep just one of each funds, such as mid/small-cap and international ones,
type. For instance, if you have several mid-cap funds as supplementary. The core holdings will command
in your portfolio, you may want to stick to just one most of the capital, while the satellite holdings will
and direct the funds in the rest towards that. help give your returns a kicker.

Mutual Fund Insight December 2020 37

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 CATEGORY WATCH

Thrills and chills

The high volatility in small-cap funds makes them suitable only for investors
with a higher risk appetite and that too in a supplementary role

I /PNOYL[\YUZZ\IK\LKMSV^Z
n the ongoing bull run, small caps have once again
come in the limelight thanks to their ability to give
While the returns of the small-cap category have raced, net flows into it
double-digit returns in a matter of months or even have remained subdued.
days. Since April this year, the S&P BSE 250 SmallCap
1750 1HWLQÁRZV` cr) 0RQWKHQGUHWXUQV 20
TRI has returned 55.6 per cent as of October 2020.
1400 10
However, if one expands the horizon the returns
from small caps don’t appear all that attractive. The 1050 0
five-year and 10-year returns of the BSE 250 700 -10
SmallCap TRI stand at just 4.12 and 2.72 per cent.
350 -20
This suggests that small caps are not able to sustain
the gains and a slump in the market hits them badly, 0 -30

unravelling their past performance. This results in -350 -40

disappointment for long-term investors. Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20
However, given their vast universe (all companies
beyond the top 250 companies), in small-cap stocks,
the scope of alpha generation through stock selection :07]Z[YHPSPUNYL[\YUZ
is immense. That’s why investing through small-cap The trailing returns of small-cap funds look attractive due to excellent
short-tem performance. However, SIP returns have been much steadier.
funds is rewarding to profit from this group of stocks.
A seasoned fund manager can help you navigate this 16.42
7UDLOLQJUHWXUQV ,QSD
tricky space more effectively. 6,3UHWXUQV

AUM trends 7.03 8.07

In 2020 (till September end), the small-cap category
of mutual funds has seen its AUM rise by about 11.38
per cent (about `5,500 crore) year on year. More than
65 per cent of this has come from net inflows, mainly
at the start of the year, and the remainder through the
returns generated. At about `54,000 crore, the small-
cap category AUM makes up about 2 per cent of the
total industry AUM.
Post the crash in March, a few prominent funds in
the category had lifted restrictions on inflows as the
valuations turned attractive and in anticipation that
the redemption pressure may increase. The markets
staged a smart recovery from late March, which result-
ed in the category AUM growing by 50 per cent since
March-end, mostly backed by performance.
How did they perform?
There were talks early this year that small caps would
be out of the slump considering their underperfor-
mance in the previous two years. Though with an
average return of more than 9 per cent so far this year,
4.93
3.72
-2.86
\HDUV \HDUV \HDUV
we might be seeing signs of recovery to some degree,
small caps did dive about 28 per cent in the month of
March. The three-, five- and seven-year SIP returns (as
of October 2020) for the category stand at 3.7, 4.9 and
8 per cent, respectively, whereas the trailing returns for
the same durations are -2.9, 7 and 16.4 per cent.
The sudden recovery in the market over the past
few months has led to the trailing returns for lump-
sum investments look better than SIP returns.
However, as in other equity categories, invest in
small-cap funds only through SIPs, given the volatili-
ty in this category.
What we think
At Value Research, we have always maintained that

38 Mutual Fund Insight December 2020

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small-cap funds play a supplementary role in your to plain vanilla multi-cap funds, which also provide
portfolio and should not have more than 10–15 per- you some small-cap exposure.
cent. However, those who cannot tolerate high volatili- Find our selection of the best small-cap funds in the
ty can do without this set of funds. They should stick next few pages.

/LVWRIVPDOOFDSIXQGV
REGULAR DIRECT
SIP return (%) Trailing return (%) Quartile ranking SIP return (%) Trailing return (%) Quartile ranking
Fund Rating 3Y 5Y 3Y 5Y 10Y ’15 ’16 ’17 ’18 ’19 Rating 3Y 5Y 3Y 5Y ’15 ’16 ’17 ’18 ’19

ABSL Small Cap  -3.37 -0.72 -10.10 4.36 8.22  -2.30 0.46 -9.00 5.52
Axis Small Cap  11.69 11.32 7.40 11.30 -  13.27 12.78 8.84 12.68
BOI AXA Small Cap Not rated - - - - - Not rated - - - -
Canara Robeco Small Cap Not rated - - - - - Not rated - - - -
DSP Small Cap  7.02 5.73 -1.74 7.63 12.88  7.84 6.47 -1.04 8.35
Edelweiss Small Cap Not rated - - - - - Not rated - - - -
Franklin Smaller Companies  -3.09 -0.27 -6.64 4.09 11.61  -2.21 0.80 -5.65 5.26
HDFC Small Cap  -3.04 2.80 -3.19 7.48 8.62  -2.01 4.07 -1.99 8.80
HSBC Small Cap Eqt  0.01 1.24 -7.30 4.23 5.70  1.17 2.32 -6.30 5.22
ICICI Pru Small Cap  3.99 4.26 -3.47 5.21 8.87  5.27 5.34 -2.41 6.10
IDBI Small Cap  -1.19 - -4.46 - -  0.06 - -2.73 -
IDFC Emrgng Businesses Not rated - - - - - Not rated - - - -
Invesco India Small Cap Not rated - - - - - Not rated - - - -
ITI Small Cap Fund Not rated - - - - - Not rated - - - -
Kotak Small Cap  8.80 7.84 1.83 9.08 10.75  10.19 9.31 3.18 10.64
L&T Emerging Businesses  -3.33 2.29 -6.53 8.08 -  -2.32 3.37 -5.54 9.09
Motilal Oswal Nifty Smallcap 250 Not rated - - - - - Not rated - - - -
Nippon India Small Cap  3.73 6.74 -1.02 9.27 14.93  4.62 7.84 -0.02 10.44
Principal Small Cap Not rated - - - - - Not rated - - - -
Quant Small Cap Not rated 19.46 10.89 6.06 6.86 10.08 Not rated 19.87 11.21 6.47 7.11
SBI Small Cap  7.80 10.75 3.70 12.68 16.66  9.03 12.06 4.94 14.04
Sundaram Small Cap  -0.60 -0.01 -8.66 2.26 7.75  0.25 0.81 -7.86 2.99
Tata Small Cap Not rated - - - - - Not rated - - - -
Union Small Cap  7.96 6.15 0.11 5.65 -  8.66 6.92 0.79 6.52

* Comparatively newer fund; no long-term history available.

Performance Top quartile Second quartile Third quartile Bottom quartile

Consistency: = Among top 25% in the category = Among top 25–50% in the category = Among bottom 25–50% in the category = Among bottom 25% in the category
The left-most bar in a series represents the fund’s performance in the first quarter of a calendar year. Similarly, subsequent bars represent the fund’s performance in second, third and last quarters of the calendar year.
Funds marked in this colour are our recommended funds. Data as on October 31, 2020. Funds suspended for sale have also been excluded.

Mutual Fund Investments are subject to market risk.

Check Value Research Fund Ratings before investing.

Mutual Fund Insight December 2020 39

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 FUND DSP SMALL CAP FUND  
REGULAR DIRECT

ANALYST’S
CH ICE Tried and tested
T
Launch his fund is among the few in companies, that should ultimately
June 2007 this category that have a deliver returns. However, to manage
Fund manager relatively longer history with a liquidity, it may at times increase its
Vinit Sambre,
Resham Jain seasoned fund manager at helm. The mid-cap exposure. Still, it consciously
fund constantly tries to identify good avoids large caps. Currently, the fund
businesses while remaining cautious has around 70 stocks in its portfolio.
Expense ratio (%) of valuations. It does not mind sitting Even though it has beaten the
DIRECT on cash if the valuations are category average in only six (but by a
0.91 1.16
MIN MEDIAN FUND MAX stretched. However, in certain cases bigger margin) and the index in eight
where the fund manager has calendar years over the last decade,
0.23 2.38 conviction in the business, the fund over any seven-year horizon, the
REGULAR can also buy at higher valuations. It fund has outperformed both the
2.00 2.43
MIN FUND MEDIAN MAX then accumulates more with a benchmark as well as the category
correction in the stock price. average consistently since inception,
1.03 2.65
Though the fund ranks among the except for 2017.
top five based on AUM, it features In April, the fund house lifted the
Trailing returns (%)
Regular Direct S&P BSE 250 SmallCap TRI among the bottom ones on the basis of restriction on inflows. The fund is
the average market cap of the now accepting both SIPs and lump
16.38 portfolio. This is a reflection of the sums. Consistent long-term
1-Year 17.41 fund manager’s core belief that if the performance and credible
4.41
fund is able to participate in the management style makes it a worthy
-1.74
growth journey of good small-sized small-cap holding.
3-Year -1.04
-7.72

7.63 10 lakh Growth of `10,000 SIP `8.34 lakh | `8.52 lakh

5-Year 8.35 Regular Direct
4.12
8 lakh
63.59
Recent
rally 64.49
6 lakh
67.07

-35.36
Recent 4 lakh
-35.32
crash
-40.68
`7.0 lakh
2 lakh Amount invested
Recent rally: March 23, 2020 — October 31, 2020
Recent crash: February 25, 2020 — March 23, 2020
Data as on October 31, ‘20. 0
Expense as on September 30, ‘20. February 2015 November 2020

Year REGULAR DIRECT

2015 2016 2017 2018 2019 2020 (YTD) 2015 2016 2017 2018 2019 2020 (YTD)

Rating            
Quartile 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4
ranking*
Fund 20.37 12.75 42.77 -25.33 0.74 13.81 21.24 13.58 43.38 -25.00 1.62 14.66
return (%)
Category 10.32 5.61 54.80 -18.62 -1.51 9.28 11.40 6.63 56.26 -17.69 -0.32 10.41
return (%)
Investment style
Growth Blend Value
Large Medium Small
Fund style

Capitalisation

Category returns are for Small Cap funds. *Quartile ranking means the quartile in which the fund appears when all the funds in the category are arranged in a descending
order of returns. YTD as on October 31, ’20. The ratings of direct and regular plans have been calculated separately in relation to their respective regular and direct peers.
Hence, they can be different. S&P BSE 250 SmallCap TRI has been given only for comparison. It may not be the stated benchmark of the fund.

40 Mutual Fund Insight December 2020

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 FUND SBI SMALL CAP FUND  
REGULAR DIRECT

ANALYST’S
CH ICE A wondrous journey
T
Launch his fund has created A staunch bottom-up approach
September 2009 substantial wealth for its centred on the business model,
Fund manager investors with great management quality and valuations
R. Srinivasan
consistency. In any seven-year span is at the heart of Srinivasan’s success.
of its existence, its annualised returns By his own admission, he is not
have almost always remained above much of a top-down or a macro
Expense ratio (%) 20 per cent and never gone below 18 expert but he likes to study
DIRECT per cent. Its seven-year annualised companies under his coverage
0.91 0.96
MIN MEDIAN FUND MAX returns are at an unbelievable 23.6 minutely. The fund has historically
per cent as of October 2020. avoided holding too much in cash
0.23 2.38 Astute stock picking is behind the (which is capped at 7 per cent) and
REGULAR fund’s dream run, along with a high- barely invested in large caps. It is
1.88 2.43
MIN FUND MEDIAN MAX conviction portfolio. The fund usually quite conscious of valuations.
manager, R Srinivasan, doesn’t like to The fund’s trailblazing
1.03 2.65
hold too many stocks and prefers to performance has led to a rapid rise in
build high-conviction portfolios of 30 its AUM, which can become an
Trailing returns (%)
Regular Direct S&P BSE 250 SmallCap TRI or less holdings. However, the impediment to its agility and focus.
number of stocks has gone up from Investors should moderate their
9.75 about 30 till early 2018 to around 50 return expectations going forward.
1-Year 11.07 currently. But Srinivasan would After removing restrictions on
4.41
ideally like to consolidate, given the lump sums in April, the AMC has
3.70
availability of conviction ideas. reintroduced them now.
3-Year 4.94
-7.72

12.68 10 lakh Growth of `10,000 SIP `9.70 lakh | `10.08 lakh

5-Year 14.04 Regular Direct
4.12
8 lakh
53.94
Recent
rally 55.02
6 lakh
67.07

-33.00
Recent 4 lakh
-32.94
crash
-40.68
`7.0 lakh
2 lakh Amount invested
Recent rally: March 23, 2020 — October 31, 2020
Recent crash: February 25, 2020 — March 23, 2020
Data as on October 31, ‘20. 0
Expense as on September 30, ‘20. February 2015 November 2020

Year REGULAR DIRECT

2015 2016 2017 2018 2019 2020 (YTD) 2015 2016 2017 2018 2019 2020 (YTD)

Rating            
Quartile 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4
ranking*
Fund 20.56 1.29 78.66 -19.53 6.10 9.70 22.29 2.64 80.44 -18.55 7.40 10.78
return (%)
Category 10.32 5.61 54.80 -18.62 -1.51 9.28 11.40 6.63 56.26 -17.69 -0.32 10.41
return (%)
Investment style
Growth Blend Value
Large Medium Small
Fund style

Capitalisation

Category returns are for Small Cap funds. *Quartile ranking means the quartile in which the fund appears when all the funds in the category are arranged in a descending
order of returns. YTD as on October 31, ’20. The ratings of direct and regular plans have been calculated separately in relation to their respective regular and direct peers.
Hence, they can be different. S&P BSE 250 SmallCap TRI has been given only for comparison. It may not be the stated benchmark of the fund.

Mutual Fund Insight December 2020 41

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 The authoritative guide
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 THE PLAN

Should a retiree
invest in gilt funds?
Anil has recently retired from a
government job and will be receiving a
monthly pension of about `40,000, which
would be sufficient for his expenses.
Besides, he has a corpus of about `35
lakh, which he wants to invest to generate
some income occasionally, either annually
or every six months, to meet unaccounted
expenses. At the same time, he would
want to keep this money safe so that he
can use it during the later years of his
retirement or an emergency.
Anil is considering gilt funds, corporate
bonds and company deposits to invest his
retirement corpus. He is lured by the fact
that the current returns of gilt funds are
even more than those of equity funds.
Besides, these funds are safe as they
invest in government bonds. Given that the
interest rates of FDs are quite low, he is
planning to invest this corpus in gilt funds
and is seeking our opinion.

DON’T THINK THAT GILT FUNDS ARE RISK-FREE

z Although these funds are safe and carry
negligible default risk as they invest in
=VSH[PSP[` NPS[M\UKZ
Based on volatility measured by standard deviation, gilt funds have been more volatile than
government securities, they do carry the
their short-duration counterparts.
interest-rate risk. Further, they can be very
z Gilt funds z Short-duration funds
volatile as they react to changes in the
5
interest-rate outlook very rapidly.
z When interest rates go down, gilt funds 4
appreciate and vice versa. Given the recent 3
rate cuts, these funds have appreciated
substantially. Since they have gained because 2
of a fall in interest rates, their value would 1
decrease with an increase in the interest rate.
The graph titled ‘Volatility and gilt funds’ 0
Sep 2015 Sep 2020
shows the highly volatile nature of these Standard deviation calculated with one-year average rolling returns over the past
funds, which you should be careful about. 12 months. Only regular plans of open-end schemes considered.

42 Mutual Fund Insight December 2020

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DO NOT GO BY RECENT TRAILING RETURNS DEBT FUNDS ARE BETTER
z You should not form your investment decisions based on the
THAN COMPANY DEPOSITS
recent performance of a fund. Look at the graphs titled ‘Multi-
AND CORPORATE BONDS
cap and aggressive hybrids vs gilt funds’. Although the recent z Investing directly in a corporate
trailing returns suggest that gilt funds have outperformed their bond or company deposit could be
equity counterparts, historically, equity-oriented funds have risky. Also, their ticket size is
returned more than these funds. often high. So, if something goes
z The recent rally in gilt funds was because of the rate cuts by wrong, a good portion of one’s
RBI, while equities faced the brunt of the ongoing pandemic. portfolio can suffer.
z One should minimise risk by
investing in a carefully chosen
4\S[PJHWHUKHNNYLZZP]LO`IYPKZ]ZNPS[M\UKZ short-duration or corporate bond
Over longer horizons of five and 10 years, both aggressive hybrid and multi-cap funds have mostly
fund. Since debt mutual funds
outperformed gilt funds.
invest in several securities, they
Five-year rolling returns are a better investment avenue as
z Gilt funds z Multi-cap funds z Aggressive hybrid funds
investors here can automatically
25
diversify the risk.
20

15 INVEST IN AGGRESSIVE
10
HYBRID FUNDS FOR
SUPPLEMENTARY INCOME
5
z Since Anil wants to invest this
0 amount for the long term and does
not depend on it for essential
-5 expenses, he should invest it in an
Sep 2015 September 2020
equity-oriented fund. An
10-year rolling returns aggressive hybrid fund is good for
21 him as it provides equity exposure
but is not as volatile as a pure
19
equity fund, given its sizeable debt
17 allocation.
15 z He can set up an annual
withdrawal of not more than 4–5
13
per cent of the corpus from the
11 fourth year to support his
9 supplementary-income
requirement.
7
z Also, he must spread this
5 amount over the next three years
Sep 2015 September 2020
to reduce the risk of entering at
Only regular plans of open-end schemes considered the wrong market level.

DON’T IGNORE THESE

z Emergency corpus: Anil should create an emergency z Insurance: Being a retired government
fund for any unaccounted expenses before investing in employee, he already has the required medical
equity. For this, he can invest around `5 lakh in a benefits from the government. However,
combination of a liquid fund and a sweep-in deposit. This considering that hospitals near his residence
would be sufficient for the next three years. He will have may or may not be covered under the
an SWP from aggressive hybrid funds from the fourth government scheme or not, he can consider
year and this amount can be used for any unaccounted buying a small health plan independently. Anil
expenses. Besides, he should maintain the emergency doesn’t need life insurance as he does not have
corpus, equivalent to at least six-to-eight-month expenses. any financial dependents.

Mutual Fund Insight December 2020 43

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 ASK
EXPERT ADVICE
Should I redeem investments
when the market is up?
As the market is soaring high, should
we stick to our investments or redeem
them and book short-term capital gains
(STCG)?
One has no – SHALABH AGARWAL
control over what If you need the money in the next one to
is going to two years, start taking your money out
happen to the methodically. But if this money is not
market and if one needed for the next five–10 years, don’t
even think of it. Make your asset-alloca-
tries to guess the
market, one will tion strategy and decide whether you
get nasty
wish to invest 100 per cent in equity, 50
per cent in equity and the rest in fixed
surprises income or one-third in equity and two-
thirds in fixed income and so on. This
will give you a rule to manage your
investments better.
One has no control over what is going
to happen to the market and if one tries
to guess the market, one will get nasty
surprises. So, don’t do that. Be guided
by your own plans.
Guidance for a new investor
What resources should someone who
When you invest has never invested before follow to get an
in a mutual fund, understanding of investing?
you are generally – SHASHWATA
going for Understand your requirements and
diversification financial goals before investing. The pri-
in a programmed mary thing to understand is the time
manner horizon – how long you can invest that
money. Only then can you invest in the
right avenue. And if your time horizon
is five years or more, only then think of
investing in equities.
Keep visiting Value Research Online
and read our articles to learn more. And
there is not much need to understand
complicated jargon. Most financial terms
like profit, profit after tax, etc., are
44 Mutual Fund Insight December 2020
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
self-explanatory. And you can always
search Google for their definitions.
What’s important is that you start
investing early and start now. If you
haven’t started investing and have a
horizon of five years or more, pick up a
good aggressive hybrid fund to begin
with. Continue to learn simultaneously.
By investing, you will gain more interest
and experience, which will help you
learn further.
Recovery of mutual funds vs.
stocks
I invest in stocks and mutual funds. What
I have noticed is that after a correction
in the market, mutual funds take a lot of
time to regain the original ground as com-
pared to stocks. Why are mutual funds so
slow to show gains?
– NISHANTH CHITLUR
In your stock portfolio, you may have
fewer stocks, possibly 10–15 stocks.
Maybe you are a good stock picker and
they are able to recover faster.
When you invest in a mutual fund,
you are generally going for diversifica-
tion in a programmed manner. With
mutual funds, not just during the recov-
ery but also during the decline, you will
see a steadier trajectory instead of a free
fall because of the diversified nature of
these funds. You also have some mutual
funds that fall freely and make a big
comeback. Likewise, you have stocks
that fall very dramatically and then,
they make a comeback very sharply.
So, it entirely depends on the charac-
ter of the portfolio and the level of
diversification. But largely, mutual funds
may take longer to make a comeback as
compared to narrower or concentrated
portfolios.
Investing in dividend plans
Should we invest in the dividend plans of
mutual funds for regular income?
– MEGHSHYAM
If you invest in a mutual fund and it gives
you a dividend of 10 per cent on the face
value, you may feel happy about it. But it
is effectively your money coming back to
you – the NAV goes down by the dividend
amount. The quantum of the dividend, as
well as the time of paying it, is decided by
the fund house. Don’t invest in dividend
plans as they are not very efficient.
The right way of deriving income or
periodic withdrawal is the systematic
withdrawal plan. It is tax-efficient and
can be customised to your requirements
as you will decide how much amount you
need and at what frequency or intervals. It
is also methodical and can be implement-
ed very easily.
How to predict inflation rates
*QYECP+IWGUUVJGHWVWTGTCVGQHKPƀCVKQP
and household expenditure? I am 10 years
away from retirement.
– DUKHA HARAN MUKHERJEE
You can’t guess such things because of
several reasons. One is that core inflation
that the government discloses itself is not
your inflation. You have a certain life-
style cost and the flexibility of changing
your lifestyle is something that only you
can predict.
Also, you will get surprises in terms of
healthcare costs in the future, for which
you need to prepare. Plan liberally and fac-
tor in high inflation, but focus on income,
investments and savings right now. If you
do that, you will have the margin of error.
You may get lucky and may require less
and that is a very happy situation to be in
as compared to a situation where you end
up with barely enough at the time of your
retirement.
Asset-allocation plans The right way of
What should be the asset allocation mix in
deriving income
the current crisis?
– SANDEEP SHRIVASTAVA or periodic
Most investors should choose one of the withdrawal is
four asset-allocation plans. The first is if the systematic
you’re getting started, don’t do asset allo- withdrawal plan
cation because you have nothing to lose
when you are just getting started. Just
have 100 per cent in equity.
You need to do asset allocation only
when you’ve built something meaningful.
Have a broad framework whereby a third
of your money should be in fixed income
once you are still in your earning and
accumulation phase so that if the market
happens to encounter the March kind of
situation again, you will have some shock
absorber built into your portfolio.
You need to do
Once you are getting closer to your asset allocation
retirement or post-retirement, then 50 per only when
cent of your portfolio may be in equity you’ve built
and 50 per cent in fixed income, which something
is good enough. If you’re a very conserva- meaningful
tive investor or you’re inexperienced and
likely to find the equity experience
unnerving, then maybe a third of your
money should be in equity and the rest
in fixed income.
Keep rebalancing periodically or as and
when your asset allocation goes out of
whack. The markets will misbehave but if
you reset your allocation, that itself will
do the job.

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* The individual is assumed to earn a taxable income of more than `5 Crore. The effective tax rate is 30% marginal tax + 37% surcharge on the tax rate + 4% Health and Education cess = 42.74% i.e. highest
marginal tax bracket. The individual is assumed to utilise the complete tax deduction limit of `150,000 per financial year under Section 80C. This deduction is allowed to an Individual or an HUF. This is only
to illustrate the tax saving potential of ELSS and is not a tax advice. Please consult your tax consultant for tax purpose. This is applicable assuming the person is in the old tax regime. The Finance Bill, 2020
has proposed a New Personal Tax Regime where most of the deductions/exemptions such as section 80C, 80D, etc. are to be foregone. This is however optional.

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It invests in diversified stocks.

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 SCOREBOARD FUND CLASSIFICATION
EQUITY No. of funds
HYBRID No. of funds
Large cap At least 80% in large caps 129 Aggressive hybrid 65–80% in equity and the rest in debt 48

Large & mid cap At least 35% each in large and Balanced hybrid 40–60% in equity and the rest in debt 10
mid caps 29
Conservative hybrid 10–25% in equity and the rest in debt 88
Multi cap Any proportion across large, mid
and small caps 99 Equity savings At least 65% in equity and at least
10% in debt 25
Mid cap At least 65% in mid caps 33
Arbitrage Investments in arbitrage opportunities 27
Small cap At least 65% in small caps 45
Dynamic asset Dynamic asset allocation 25
Value-oriented Following the value strategy 19 allocation between equity and debt

ELSS Across proportion across large, Multi asset Investments in 3 different asset classes, 18
mid and small caps 66 allocation with a minimum 10% in all three

Sectoral/ At least 80% in a particular

thematic* sector or theme 129 COMMODITIES
International More than 65% in foreign equities 40 Gold Investment in gold 21

DEBT No. of funds

Long duration Instruments with Macaulay duration greater than 7 years 6

Medium to long duration Instruments with Macaulay duration between 4 and 7 years; under anticipated adverse situation, 1 year to 4 years** 15

Medium duration Instruments with Macaulay duration between 3 and 4 years; under anticipated adverse situation, 1 year to 4 years** 31

Short duration Instruments with Macaulay duration between 1 year and 3 years 29

Money market Money-market instruments having maturity up to 1 year 19

Low duration Instruments with Macaulay duration between 6 and 12 months 29

Ultra short duration Instruments with Macaulay duration between 3 and 6 months 30

Liquid Debt and money-market securities with maturity of up to 91 days 42

Overnight Securities having maturity of 1 day 30

Dynamic bond Investments across durations 33

Corporate bond At least 80% in AA+ and above-rated corporate bonds 22

Credit risk At least 65% in AA and below-rated corporate bonds 29

Banking and PSU At least 80% in the debt instruments of banks, PSUs, public financial institutions and municipal bonds 21

Floater At least 65% in floating-rate instruments (including fixed-rate ones converted to floating rate) 8

Gilt At least 80% in government securities 23

Gilt with 10-year At least 80% in government bonds such

constant duration that the average maturity of the portfolio is 10 years 5

FMP Investment for a pre-defined term 705

*Include dividend-yield funds. **Anticipated adverse situation is if the fund manager expects the interest rates to move adversely

Mutual Fund Insight December 2020 49

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 SCOREBOARD GUIDE

The Value Research Scoreboard is designed to help you make the best possible investment deci-
sions. The Scoreboard captures essential data on every mutual fund scheme in an easy-to-use for-
mat. The data are updated each month and undergo rigorous validation. In the following pages,
you will find the details of both regular and direct plans.

Rating: The Value Research fund rating

system is a risk-adjusted rating system, represented
by a convenient composite measure of both returns
and risk.
It is purely quantitative and has no subjective
component. It gives a quick summary of how a fund Rank
has performed historically relative to its peers. Funds are ranked
z For equity and hybrid funds, the system com- based on their
bines three- and five-year performance periods. return position in
z For debt funds, fund ratings are based on the respective Value
eighteen-month weekly risk-adjusted perfor- Research fund cate-
mance. gory. In case of a tie,
z Equity funds with a minimum performance histo- the subsequent rank
Fund Name ry of three years and debt funds with a minimum is skipped. For
The fund name is history of 18 months are only rated. example, if three
listed alphabeti- z There have to be at least ten funds in a category funds are ranked 7,
cally in each row. for it to be rated and the fund must have at least then the subsequent
The first row (in `5 crore average AUM in the past six months. fund is assigned
bold) indicates the The distribution of ratings is as follows: rank 10. Speciality
name of the cate-  Top 10% funds  Next 22.5% equity funds are not
gory and its aver-  Middle 35%  Next 22.5% ranked due to their
age returns.  Bottom 10% NR Not rated diverse objectives.

REGULAR DIRECT
Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)

No.
A serial number is generated
for every fund scheme and is
the first column of the
Scoreboard. To locate a spe-
cific fund, look for this num-
ber in the Index against the
name of the fund.
Return
Return calculations are based on month-end net asset values
(NAVs), assuming reinvestment of dividends, readjusted for
any bonus or rights. The return is computed by adjusting for
the dividend tax paid by the fund in the past. All trailing
returns for one-year period and above are annualised, while
returns for less than one year are absolute.

Expense, NAV, Assets

This section details information about the fund’s average expense ratio, NAV and AUM. The expense ratio indicates
the recurring per cent charge levied by the fund to manage assets, and the NAV is the per unit market price.

50 Mutual Fund Insight December 2020

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For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Equity: Large Cap -2.2 3.8 7.9 7.7 90 71 -1.9 3.6 8.3 54 49
1 ABSL Focused Eqt  -0.7 1.7 7.3 9.8 70 52 2.08 60.72  0.2 2.7 8.4 36 24 1.10 65.44 4001
2 ABSL Frontline Eqt  -3.3 0.5 6.6 8.9 75 57 1.73 220.25  -2.6 1.3 7.5 44 38 1.00 235.83 17191
3 ABSL Index  -1.7 4.2 7.7 6.7 48 43 0.58 114.79  -1.5 4.4 8.0 29 34 0.33 115.74 196
4 ABSL Nifty ETF NR -1.2 5.1 8.8 - 33 18 0.05 127.83 NR - - - - - - - 169
5 ABSL Nifty Next 50 ETF NR -4.4 - - - - - 0.05 276.49 NR - - - - - - - 68
6 ABSL Sensex ETF NR -0.2 2.9 - - 64 - 0.08 374.73 NR - - - - - - - 15
7 Axis Bluechip  1.5 9.3 10.9 10.4 1 2 1.70 31.95  2.7 10.7 12.3 1 1 0.56 35.03 17270
8 Axis Nifty 100 Index NR -2.4 - - - - - 1.00 9.95 NR -1.7 - - - - 0.15 10.03 352
9 Axis Nifty ETF NR -1.3 5.2 - - 28 - 0.15 120.86 NR - - - - - - - 23
10 Baroda Large Cap  -2.4 1.7 6.0 3.4 71 - 2.56 14.75  -1.8 2.4 6.8 39 - 1.85 15.57 34
11 BHARAT 22 ETF NR -32.6 - - - - - 0.01 24.60 NR - - - - - - - 4638
12 BNP Paribas Large Cap  -0.2 4.8 7.6 10.3 42 45 2.32 96.12  0.8 6.1 8.9 10 15 1.11 104.77 849
13 Canara Robeco Bluechip Eqt  6.0 8.2 10.4 10.4 5 4 2.39 28.13  7.5 9.6 11.7 2 2 0.84 30.50 788
14 DSP Equal Nifty 50  -6.0 -2.9 - - 87 - 0.75 9.31  -5.6 -2.4 - 53 - 0.37 9.45 107
15 DSP Nifty 50 Index NR -1.9 - - - - - 0.35 10.86 NR -1.7 - - - - 0.21 10.90 67
16 DSP Nifty Next 50 Index NR -5.3 - - - - - 0.57 10.49 NR -5.0 - - - - 0.29 10.55 70
17 DSP Top 100 Equity  -6.9 1.0 6.1 6.9 74 63 2.15 205.57  -6.2 1.7 6.9 42 43 1.37 216.33 2297
18 Edelweiss ETF Nifty 100 Quality 30 NR 0.8 6.1 - - 21 - 0.28 295.48 NR - - - - - - - 10
19 Edelweiss ETF Nifty 50 NR -1.6 5.2 9.2 - 25 11 0.07 12628.59 NR - - - - - - - 2
20 Edelweiss Large Cap  0.2 4.9 8.3 9.2 38 31 2.52 37.30  1.9 6.2 9.4 9 7 0.59 39.87 193
21 Essel Large Cap Equity  -3.4 0.3 6.5 - 77 61 2.60 22.82  -1.9 1.8 8.0 41 35 1.01 25.37 84
22 Franklin Bluechip  -4.6 -1.2 4.4 7.0 79 69 1.95 438.34  -3.9 -0.4 5.3 46 47 1.24 467.53 4849
23 Franklin Index NSE Nifty  -2.1 4.0 7.6 6.9 51 46 0.67 92.12  -1.6 4.5 8.1 28 31 0.26 95.02 327
24 HDFC Index Nifty 50  -1.8 4.8 8.4 7.4 41 30 0.30 106.56  -1.7 5.0 8.6 20 20 0.10 108.02 1882
25 HDFC Index Sensex  -0.9 6.7 9.1 7.8 16 12 0.30 353.86  -0.7 6.9 9.3 6 9 0.10 359.39 1496
26 HDFC Nifty 50 ETF NR -1.3 5.2 - - 27 - 0.05 1230.11 NR - - - - - - - 466
27 HDFC Sensex ETF NR -0.2 7.2 - - 10 - 0.05 4213.46 NR - - - - - - - 74
28 HDFC Top 100  -12.8 -1.9 5.7 6.7 85 66 1.78 432.99  -12.3 -1.3 6.4 48 45 1.23 455.46 15759
29 HSBC Large Cap Eqt  -0.9 3.3 8.5 7.0 62 25 2.48 218.04  0.1 4.2 9.4 31 8 1.56 231.70 593
30 ICICI Pru BHARAT 22 FOF NR -32.9 - - - - - 0.01 7.23 NR -32.9 - - - - 0.01 7.23 14
31 ICICI Pru Bluechip  -3.5 1.8 7.8 9.3 68 41 1.78 41.90  -2.9 2.6 8.7 38 17 1.09 44.74 23423
32 ICICI Pru Nifty 100 ETF NR -1.9 3.9 8.4 - 56 29 0.46 126.49 NR - - - - - - - 12
33 ICICI Pru Nifty ETF NR -1.3 5.2 8.8 - 29 16 0.05 123.54 NR - - - - - - - 1307
34 ICICI Pru Nifty Index  -1.7 4.4 8.0 7.3 44 37 0.45 113.24  -1.4 4.9 8.4 23 26 0.10 116.82 958
35 ICICI Pru Nifty Low Vol 30 ETF NR 5.5 7.7 - - 6 - 0.42 99.18 NR - - - - - - - 169
36 ICICI Pru Nifty Next 50 ETF NR -4.2 - - - - - 0.15 27.74 NR - - - - - - - 88
37 ICICI Pru Nifty Next 50 Index  -5.2 -2.7 7.0 7.7 86 54 0.85 24.11  -4.9 -2.3 7.4 51 39 0.39 24.95 804
38 ICICI Pru NV20 ETF NR 2.4 8.7 - - 4 - 0.15 59.62 NR - - - - - - - 8
39 ICICI Pru Sensex ETF NR -0.1 7.2 9.5 8.5 12 9 0.08 426.55 NR - - - - - - - 33
40 ICICI Pru Sensex Index  -0.1 6.7 - - 15 - 0.30 12.48  0.2 7.0 - 5 - 0.10 12.58 146
41 ICICI Prudential Alpha Low Vol 30 ETF NR - - - - - - 0.40 122.67 NR - - - - - - - 25
42 IDBI Focused 30 Eqt NR -0.5 - - - - - 2.44 10.14 NR 0.5 - - - - 1.58 10.68 151
43 IDBI India Top 100 Eqt  -0.1 2.0 6.1 - 67 64 2.59 25.50  1.0 3.5 7.6 34 37 1.38 27.76 366
44 IDBI Nifty Index  -2.2 3.9 7.2 6.5 57 53 1.03 21.47  -1.4 4.9 8.3 21 28 0.30 22.95 220
45 IDBI Nifty Junior Index  -5.6 -3.1 6.2 7.1 89 62 1.04 20.45  -5.1 -2.4 7.3 52 41 0.49 21.82 46
46 IDFC Large Cap  3.2 3.4 8.5 7.3 61 26 2.53 34.51  4.2 4.4 9.8 30 5 1.42 37.44 529
47 IDFC Nifty  -0.7 5.2 8.7 7.9 31 22 0.30 24.47  -0.6 5.3 8.8 14 16 0.15 24.66 230
48 IDFC Nifty ETF NR -1.0 5.3 - - 24 - 0.06 121.60 NR - - - - - - - 2
49 IDFC Sensex ETF NR -0.1 7.2 - - 13 - 0.20 413.80 NR - - - - - - - 1
S&P BSE 100 Total Return Index -1.0 4.2 8.9 8.1

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

Mutual Fund Insight December 2020 51

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For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Equity: Large Cap -2.2 3.8 7.9 7.7 90 71 -1.9 3.6 8.3 54 49
50 Indiabulls Bluechip  -6.8 1.3 6.8 - 73 56 2.43 20.61  -5.4 2.9 8.6 35 22 1.03 23.19 128
51 Indiabulls Nifty 50 ETF NR 0.0 - - - - - 0.12 119.96 NR - - - - - - - 12
52 Invesco India Large Cap  1.3 3.8 7.4 8.3 58 51 2.72 29.52  2.5 5.4 9.1 13 11 1.40 33.14 238
53 Invesco India Nifty ETF NR -1.3 5.2 8.8 - 32 15 0.10 1255.85 NR - - - - - - - 2
54 JM Core 11  -16.1 -3.0 8.0 5.2 88 35 1.62 8.05  -14.7 -1.6 9.7 50 6 1.22 8.91 46
55 JM Large Cap  5.6 3.7 5.9 5.9 59 65 1.99 71.30  6.7 4.8 7.2 24 42 0.48 77.52 331
56 Kotak Bluechip  1.1 4.3 7.6 8.4 46 44 2.30 248.69  2.2 5.5 8.9 12 14 1.07 270.20 1678
57 Kotak Nifty ETF NR -1.4 5.1 8.5 7.7 34 27 0.14 121.40 NR - - - - - - - 911
58 Kotak NV 20 ETF NR 2.2 8.8 - - 3 - 0.13 60.73 NR - - - - - - - 12
59 Kotak Sensex ETF NR -0.4 7.0 9.3 8.2 14 10 0.28 411.97 NR - - - - - - - 13
60 L&T India Large Cap  -3.3 2.9 6.5 7.7 65 58 2.58 27.71  -2.4 3.7 7.4 33 40 1.63 29.38 539
61 L&T Nifty 50 Index Fund NR - - - - - - 0.70 13.04 NR - - - - - 0.25 13.08 40
62 L&T Nifty Next 50 Index Fund NR - - - - - - 0.69 11.83 NR - - - - - 0.24 11.86 18
63 LIC MF ETF Nifty 100 NR -1.7 4.0 - - 53 - 0.26 122.90 NR - - - - - - - 317
64 LIC MF ETF Nifty 50 NR -1.1 5.3 - - 22 - 0.10 122.92 NR - - - - - - - 509
65 LIC MF ETF Sensex NR -0.1 7.3 - - 7 - 0.10 421.12 NR - - - - - - - 408
66 LIC MF Index Nifty  -1.9 4.0 7.5 6.8 52 49 1.03 64.33  -1.5 4.5 8.0 27 33 0.48 66.89 26
67 LIC MF Index Sensex  -0.7 6.1 8.1 7.0 20 33 1.08 73.85  -0.4 6.6 8.6 7 19 0.58 76.78 24
68 LIC MF Large Cap  -3.2 3.4 6.5 6.9 60 59 2.63 27.54  -2.3 4.5 7.6 26 36 1.60 29.57 388
69 Mahindra Mnulife Largecap Prgti Yjn NR -7.0 - - - - - 2.62 10.05 NR -5.2 - - - - 0.80 10.38 95
70 Mirae Asset Equity Allocator FoF NR - - - - - - 0.18 10.27 NR - - - - - 0.10 10.27 34
71 Mirae Asset Large Cap  -1.3 4.0 10.3 11.7 54 5 1.65 52.49  -0.2 5.0 11.2 19 3 0.58 56.39 18450
72 Mirae Asset Nifty 50 ETF NR -1.4 - - - - - 0.07 118.73 NR - - - - - - - 311
73 Mirae Asset Nifty Next 50 ETF NR - - - - - - 0.14 271.68 NR - - - - - - - 41
74 Motilal Oswal Focused 25  1.5 5.0 8.8 - 36 17 2.21 24.15  2.8 6.3 10.2 8 4 0.81 26.72 1267
75 Motilal Oswal M50 ETF NR -1.5 4.9 8.1 6.5 40 34 0.05 114.46 NR - - - - - - - 19
76 Motilal Oswal Nifty 50 Index NR - - - - - - 0.50 9.59 NR - - - - - 0.10 9.62 46
77 Motilal Oswal Nifty Next 50 Index Fund NR - - - - - - 0.95 9.54 NR - - - - - 0.30 9.60 43
78 Nippon India ETF Junior BeES NR -4.1 -1.8 7.5 8.2 83 48 0.15 285.31 NR - - - - - - - 1192
79 Nippon India ETF Nifty 100 NR -2.7 3.2 7.8 - 63 42 0.97 120.68 NR - - - - - - - 7
80 Nippon India ETF Nifty BeES NR -1.3 5.3 8.8 8.0 23 19 0.05 124.26 NR - - - - - - - 2699
81 Nippon India ETF NV20 NR 3.6 9.3 11.5 - 2 1 0.36 61.63 NR - - - - - - - 24
82 Nippon India ETF Sensex NR -0.2 7.2 9.5 - 11 7 0.07 427.06 NR - - - - - - - 24
83 Nippon India ETF Sensex Next 50 NR -5.5 - - - - - 0.25 30.11 NR - - - - - - - 12
84 Nippon India ETF Shariah BeES NR 16.4 6.3 10.5 8.8 19 3 1.03 305.92 NR - - - - - - - 3
85 Nippon India Index Nifty  -2.5 4.1 7.6 7.1 50 47 1.18 19.42  -1.5 4.9 8.3 22 27 0.10 20.35 236
86 Nippon India Index Sensex  -0.7 6.4 8.4 7.2 18 28 0.61 19.63  -0.3 7.0 9.1 4 13 0.10 20.42 98
87 Nippon India Junior BeES FoF NR -4.7 - - - - - 0.28 9.97 NR -4.5 - - - - 0.02 10.01 66
88 Nippon India Large Cap  -13.5 -1.7 5.2 8.1 82 68 1.94 30.30  -12.8 -0.8 6.3 47 46 1.02 32.48 9746
89 PGIM India Large Cap  -2.4 2.4 6.5 7.1 66 60 2.38 171.54  -1.0 3.9 8.1 32 30 0.90 189.53 284
90 Principal Large Cap Fund NR - - - - - - - 9.86 NR - - - - - - 9.86 -
91 Principal Nifty 100 Equal Weight  -6.3 -1.7 4.1 5.2 81 70 0.96 68.04  -6.1 -1.4 4.5 49 48 0.71 70.25 17
92 Quant Focused NR -1.7 1.4 7.6 9.9 - - 2.48 32.79 NR -0.2 2.4 8.2 - - 0.57 33.43 5
93 Quantum Nifty ETF NR -1.4 5.1 8.7 7.9 35 21 0.09 1204.29 NR - - - - - - - 7
94 SBI Bluechip  -4.2 1.8 6.9 9.5 69 55 1.69 39.55  -3.4 2.7 8.0 37 32 1.07 42.35 22058
95 SBI ETF BSE 100 NR -1.4 4.0 8.6 - 55 23 0.14 122.02 NR - - - - - - - 4
96 SBI ETF Nifty 50 NR -1.3 5.2 8.9 - 26 14 0.07 120.67 NR - - - - - - - 74867
97 SBI ETF Nifty Next 50 NR -4.3 -1.9 7.8 - 84 40 0.16 281.99 NR - - - - - - - 528
98 SBI ETF Quality NR 4.1 - - - - - 0.50 106.99 NR - - - - - - - 21
S&P BSE 100 Total Return Index -1.0 4.2 8.9 8.1

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

52 Mutual Fund Insight December 2020

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For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Equity: Large Cap -2.2 3.8 7.9 7.7 90 71 -1.9 3.6 8.3 54 49
99 SBI ETF Sensex NR -0.2 7.2 9.5 - 9 8 0.07 424.86 NR - - - - - - - 30319
100 SBI ETF Sensex Next 50 NR -5.3 - - - - - 0.12 304.85 NR - - - - - - - 3
101 SBI Nifty Index  -2.3 4.3 7.9 6.9 47 38 0.48 99.91  -1.9 4.8 8.4 25 25 0.09 103.28 914
102 Sundaram Bluechip Fund NR - - - - - - - 9.89 NR - - - - - - 9.90 -
103 Sundaram Select Focus  -3.2 4.3 8.2 6.4 45 32 2.31 182.63  -2.3 5.6 9.1 11 12 1.27 193.23 1029
104 Sundaram Smart NIFTY 100 Equal Wght  -6.2 -3.3 - - 90 - 0.93 11.21  -5.7 -2.6 - 54 - 0.41 11.51 20
105 Tata Index Nifty  -2.0 4.6 8.0 7.0 43 36 0.50 70.64  -1.4 5.1 8.6 16 21 0.05 75.35 62
106 Tata Index Sensex  -1.0 6.6 8.7 7.2 17 20 1.00 98.13  -0.1 7.2 9.3 3 10 0.05 102.00 28
107 Tata Large Cap  -8.3 0.5 5.4 7.0 76 67 2.50 210.29  -7.5 1.6 6.8 43 44 1.70 230.62 716
108 Tata Nifty ETF NR -1.0 - - - - - 0.07 119.08 NR - - - - - - - 191
109 Taurus Largecap Equity  -3.5 -0.4 3.6 4.9 78 71 2.58 73.61  -3.3 0.0 4.3 45 49 2.50 77.50 24
110 Taurus Nifty Index NR -0.6 4.9 7.8 6.7 39 39 1.11 21.93 NR -0.4 5.3 8.5 15 23 0.93 23.06 3
111 Union Large Cap  -2.0 1.4 - - 72 - 2.56 10.96  -1.4 2.0 - 40 - 1.87 11.23 177
112 UTI Mastershare  1.1 4.1 7.5 8.4 49 50 2.05 126.97  2.0 5.1 8.3 17 29 1.07 133.51 6304
113 UTI Nifty ETF NR -1.3 5.2 9.0 - 30 13 0.07 1241.25 NR - - - - - - - 18323
114 UTI Nifty Index  -1.5 5.0 8.6 7.4 37 24 0.14 76.81  -1.5 5.0 8.6 18 18 0.10 77.50 2711
115 UTI Nifty Next 50 ETF NR -3.9 -1.6 - - 80 - 0.15 283.15 NR - - - - - - - 368
116 UTI Nifty Next 50 Index NR -4.7 - - - - - 0.78 9.75 NR -4.2 - - - - 0.32 9.89 662
117 UTI S&P BSE Sensex Next 50 ETF NR -5.4 - - - - - 0.22 304.04 NR - - - - - - - 5
118 UTI Sensex ETF NR -0.2 7.3 9.6 - 8 6 0.07 422.22 NR - - - - - - - 8643
Equity: Large & MidCap -1.0 0.4 7.6 9.3 21 20 0.0 1.6 8.6 20 20
119 ABSL Eqt Advantage  0.2 -1.6 7.4 9.1 16 12 1.93 416.80  1.1 -0.6 8.6 15 12 0.96 445.69 4390
120 Axis Growth Opportunities NR 5.9 - - - - - 2.17 12.50 NR 7.7 - - - - 0.76 12.96 1413
121 Baroda Large & Mid Cap Fund NR - - - - - - 2.53 10.11 NR - - - - - 1.70 10.14 553
122 BOI AXA Large & Midcap Eqt  1.2 -0.7 5.6 6.5 14 16 2.71 35.68  2.4 0.5 6.9 13 15 1.60 39.00 179
123 Canara Robeco Emerging Equities  7.2 3.3 10.7 15.4 5 2 1.93 101.47  8.5 4.6 12.0 4 2 0.76 110.22 5987
124 DSP Equity Opp  -3.3 0.5 8.8 9.0 10 7 1.98 223.11  -2.4 1.5 9.9 11 7 1.08 238.06 4838
125 Edelweiss Large & Midcap  1.4 3.8 8.0 8.6 3 9 2.47 32.91  3.0 5.3 9.2 2 10 0.91 36.01 517
126 Essel Large & Midcap NR -4.5 -0.3 - - - - 2.60 14.80 NR -2.7 1.5 - - - 0.90 16.15 100
127 Franklin Eqt Advantage  -8.1 -2.7 3.2 7.6 18 20 2.12 72.54  -7.2 -1.9 4.0 18 20 1.23 76.96 2052
128 HDFC Growth Opportunities  -7.1 -1.2 4.5 4.3 15 17 2.34 106.58  -6.9 -1.1 4.6 16 17 2.09 108.12 1367
129 HSBC Large and Midcap Eqt NR -0.7 - - - - - 2.45 10.12 NR 0.9 - - - - 0.81 10.39 519
130 ICICI Pru Large & Midcap  -7.4 -2.4 5.8 8.0 17 15 2.24 304.50  -6.7 -1.5 6.9 17 16 1.40 326.97 2397
131 ICICI Pru Midcap Select ETF NR 0.4 -3.5 - - 20 - 0.45 65.21 NR - - - - - - - 20
132 IDFC Core Equity  -1.8 -0.6 7.8 6.8 12 10 2.08 44.12  -0.6 0.7 9.4 12 9 0.86 48.64 2095
133 Invesco India Growth Opp  -2.8 3.8 9.0 9.8 2 6 1.93 35.26  -1.7 5.2 10.6 3 6 0.54 39.36 2960
134 Kotak Equity Opportunities  3.4 3.1 9.5 9.5 6 5 2.05 127.46  4.6 4.3 10.8 6 5 0.82 138.52 3757
135 L&T Large and Midcap  1.4 -0.6 6.8 9.2 13 14 2.29 48.48  2.2 0.2 7.7 14 13 1.38 51.43 1196
136 LIC MF Large & Midcap  -0.1 2.5 9.9 - 7 4 2.49 15.69  1.6 4.1 11.5 7 3 0.95 16.90 772
137 Mahindra Manulife Top 250 Nivsh Yjn NR - - - - - - 2.53 9.99 NR - - - - - 0.68 10.14 230
138 Mirae Asset Emerging Bluechip  6.3 6.0 14.0 17.7 1 1 1.74 59.52  7.4 6.9 15.0 1 1 0.79 63.98 11466
139 Motilal Oswal Large and Midcap NR -4.2 - - - - - 2.50 9.97 NR -2.5 - - - - 0.64 10.16 476
140 Nippon India Vision  -4.3 -4.7 3.7 5.5 21 19 2.18 511.11  -3.8 -4.1 4.3 20 18 1.62 536.40 2361
141 Principal Emerging Bluechip  4.2 0.4 10.1 12.2 11 3 2.11 110.15  5.4 1.6 11.3 10 4 1.00 118.74 2119
142 Quant Large & Midcap NR 0.7 0.5 9.0 9.4 - - 2.48 39.02 NR 0.8 0.9 9.2 - - 2.38 39.78 5
143 SBI Large & Midcap  -2.4 1.2 7.0 9.1 9 13 2.05 218.75  -1.7 1.9 7.7 9 14 1.45 228.17 2860
144 Sundaram Large & Midcap  -8.4 2.2 8.4 8.2 8 8 2.29 33.75  -7.2 3.4 9.4 8 8 0.85 35.96 1252
S&P BSE 100 Total Return Index -1.0 4.2 8.9 8.1
S&P BSE Large Mid Cap TRI -1.0 3.7 8.7 8.2
S&P BSE Sensex TRI -0.1 7.3 9.6 8.6

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

Mutual Fund Insight December 2020 53

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Equity: Large & MidCap -1.0 0.4 7.6 9.3 21 20 0.0 1.6 8.6 20 20
145 Tata Large & Midcap  0.5 3.6 7.5 9.4 4 11 2.20 214.88  0.1 4.5 8.7 5 11 1.13 232.66 1634
146 Union Large & Midcap NR - - - - - - 2.53 10.64 NR - - - - - 1.44 10.73 204
147 UTI Core Equity  -3.8 -3.2 3.7 6.6 19 18 2.63 57.73  -3.3 -2.7 4.2 19 19 2.08 59.80 762
Equity: Multi Cap -1.5 1.5 7.3 8.4 43 40 -0.3 2.5 8.3 43 40
148 ABSL Bal Bhavishya Yojna Wealth NR -2.1 - - - - - 2.63 10.50 NR -0.1 - - - - 0.91 10.86 291
149 ABSL Equity  -0.2 1.0 8.7 9.6 22 13 1.83 733.60  0.7 2.0 9.8 21 13 0.91 788.50 10832
150 ABSL Retirement 30s NR -2.1 - - - - - 2.63 10.11 NR -0.2 - - - - 0.88 10.42 152
151 Axis Focused 25  -0.3 6.7 11.6 - 6 4 2.02 30.37  0.9 8.0 13.0 5 4 0.67 33.40 11455
152 Axis Multicap NR 0.0 - - - - - 2.07 12.59 NR 1.5 - - - - 0.56 13.19 6367
153 Baroda Multi Cap  -0.7 -0.7 5.6 5.7 31 29 2.50 99.15  0.1 0.2 6.5 32 31 1.80 106.21 816
154 BNP Paribas Focused 25 Eqt  -0.7 -0.4 - - 28 - 2.45 9.98  0.8 1.0 - 27 - 1.03 10.41 177
155 BNP Paribas Multi Cap  -4.0 -2.3 6.3 9.3 37 27 2.44 46.92  -2.7 -0.9 7.9 35 22 1.03 52.52 526
156 BOI AXA Multi Cap Fund NR - - - - - - 2.73 11.59 NR - - - - - 0.79 11.67 48
157 Canara Robeco Eqt Diversified  6.4 7.0 9.6 9.9 5 7 2.14 147.91  7.8 8.0 10.5 6 10 0.82 156.44 2413
158 DSP Equity  -1.0 4.1 9.2 8.9 10 9 2.04 41.22  0.0 5.0 10.1 10 12 1.03 44.44 3668
159 DSP Focus  -4.6 1.8 6.5 7.7 17 25 2.15 23.76  -3.5 2.8 7.4 19 26 1.09 25.24 1856
160 Edelweiss Multi Cap  -2.1 1.9 8.0 - 16 18 2.46 14.54  -0.4 3.5 9.3 16 15 0.69 15.56 550
161 Essel Multi Cap NR -5.4 - - - - - 2.30 10.29 NR -3.5 - - - - 0.43 10.81 172
162 Franklin Equity  -3.1 -0.7 5.0 9.3 33 33 1.84 562.31  -2.4 0.2 6.0 33 33 1.11 604.10 8081
163 Franklin Focused Eqt  -9.3 -1.9 5.2 10.2 36 32 1.89 37.34  -8.6 -0.9 6.3 36 32 1.12 40.48 6442
164 HDFC Equity  -14.4 -3.2 4.8 6.6 39 34 1.80 570.41  -13.9 -2.5 5.6 39 34 1.20 604.93 18424
165 HDFC Focused 30  -15.5 -6.6 2.2 4.1 43 39 2.66 66.09  -14.7 -5.7 3.2 43 39 1.69 70.72 492
166 HDFC Retrmnt Savings Eqt  0.1 1.1 - - 20 - 2.23 17.13  1.4 2.5 - 20 - 1.08 18.36 988
167 HSBC Focused Eqt Fund NR - - - - - - 2.39 10.39 NR - - - - - 0.81 10.44 520
168 HSBC Multi Cap Eqt  0.5 -0.7 6.7 8.6 32 23 2.51 85.17  1.7 0.3 7.6 31 24 1.38 90.81 325
169 ICICI Pru Focused Equity  2.8 1.8 6.6 7.3 18 24 2.63 30.29  3.9 2.8 7.8 17 23 1.41 32.76 795
170 ICICI Pru Multicap  -9.1 -0.5 5.5 8.2 29 31 2.05 267.89  -8.2 0.5 6.6 29 30 1.01 287.09 5232
171 ICICI Pru Retrmnt Pure Eqt NR -7.1 - - - - - 2.58 9.68 NR -5.3 - - - - 0.97 10.00 68
172 ICICI Pru S&P BSE 500 ETF NR -0.2 - - - - - 0.28 156.49 NR - - - - - - - 38
173 ICICI Prudential India Eqt FOF NR - - - - - - 1.23 9.59 NR - - - - - 0.15 9.64 23
174 IDBI Diversified Eqt  -2.2 2.4 5.5 - 14 30 2.55 21.84  -0.9 4.1 7.1 13 27 1.18 23.80 287
175 IDFC Focused Equity  6.2 1.3 8.9 6.6 19 12 2.21 39.68  7.6 2.8 10.6 18 9 0.83 43.91 1401
176 IDFC Multi Cap  -6.4 -1.7 4.7 9.7 35 35 2.00 89.40  -5.7 -1.0 5.4 37 35 1.31 94.52 4745
177 IIFL Focused Equity  7.3 8.0 12.0 - 4 3 2.22 18.75  8.9 9.6 13.4 4 2 0.90 20.25 963
178 Invesco India Focused 20 Eqt Fund NR - - - - - - 2.26 9.95 NR - - - - - 0.55 9.96 602
179 Invesco India Multicap NR 0.7 -0.8 6.3 11.7 - - 2.40 48.10 NR 2.0 0.6 7.9 - - 0.97 53.80 933
180 ITI Multi Cap NR -12.0 - - - - - 2.63 9.78 NR -10.1 - - - - 0.48 10.10 140
181 JM Multicap  -10.5 0.0 8.5 6.7 27 14 2.50 31.13  -9.8 0.8 9.7 28 14 1.32 33.70 127
182 Kotak Focused Equity NR -1.3 - - - - - 2.12 10.55 NR 0.5 - - - - 0.33 10.79 1638
183 Kotak Standard Multicap  -2.9 2.6 9.1 10.6 13 11 1.69 35.57  -2.0 3.7 10.2 15 11 0.73 38.40 29551
184 L&T Equity  -1.4 0.7 6.3 8.0 25 26 2.12 81.99  -0.7 1.5 7.0 24 28 1.38 86.54 2340
185 L&T Focused Equity NR 1.5 - - - - - 2.49 11.66 NR 2.7 - - - - 1.36 11.92 751
186 LIC MF Multicap  -4.1 0.4 4.4 5.1 26 36 2.58 47.67  -3.5 1.2 5.2 26 36 1.67 50.34 293
187 Mahindra Manulife MultiCap Bdht Yjn  0.9 2.1 - - 15 - 2.62 11.58  2.6 4.1 - 14 - 0.86 12.44 341
188 Mirae Asset Focused NR 5.2 - - - - - 1.89 12.20 NR 6.9 - - - - 0.38 12.51 3524
189 Motilal Oswal Multicap 35  -5.5 -0.6 7.9 - 30 19 1.82 25.70  -4.5 0.3 8.9 30 17 0.78 27.35 11032
190 Motilal Oswal Nifty 500 NR -1.1 - - - - - 1.03 10.73 NR -0.5 - - - - 0.38 10.81 59
S&P BSE 500 Total Return Index 0.2 2.9 8.7 8.0
S&P BSE Large Mid Cap TRI -1.0 3.7 8.7 8.2
S&P BSE Sensex Total Return Index -0.1 7.3 9.6 8.6

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

54 Mutual Fund Insight December 2020

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.

For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Equity: Multi Cap -1.5 1.5 7.3 8.4 43 40 -0.3 2.5 8.3 43 40
191 Nippon India Focused Equity  -4.6 -2.5 5.7 9.5 38 28 2.17 44.31  -4.0 -1.8 6.6 38 29 1.37 47.19 3756
192 Nippon India Multi Cap  -17.3 -4.4 1.5 7.6 41 40 2.03 79.82  -16.7 -3.7 2.2 41 40 1.25 84.59 7546
193 Nippon India Retrmnt Wealth Creation  -14.6 -5.5 2.4 - 42 38 2.35 11.33  -13.7 -4.6 3.7 42 37 0.81 12.18 1504
194 Parag Parikh Long Term Equity  18.5 11.2 12.7 - 1 1 2.05 31.15  19.6 12.1 13.5 1 1 1.02 32.60 4798
195 PGIM India Diversified Eqt  13.4 5.8 9.1 - 8 10 2.41 15.70  15.5 7.9 10.8 7 6 0.52 17.02 280
196 Principal Focused Multicap  1.5 3.8 8.1 8.3 11 15 2.58 68.11  2.3 4.6 8.9 12 18 1.71 71.90 399
197 Principal Multi Cap Growth  -0.4 -1.4 8.0 9.3 34 16 2.47 139.69  0.5 -0.5 8.9 34 19 1.66 148.14 650
198 Quant Active  15.3 9.8 12.7 10.2 2 2 2.48 224.72  16.0 10.4 13.1 2 3 0.57 229.26 66
199 Quantum Equity FoF  -2.1 1.1 7.4 8.8 21 21 0.75 35.51  -1.8 1.3 7.6 25 25 0.51 35.72 49
200 SBI Focused Equity  -1.5 6.3 9.6 13.0 7 8 1.75 147.52  -0.4 7.4 10.7 8 7 0.81 158.41 10114
201 SBI Magnum MultiCap  -5.1 1.0 8.0 9.3 23 17 1.79 48.13  -4.2 2.0 9.1 22 16 0.96 51.56 8870
202 Shriram Multicap NR -4.2 - - - - - 2.55 10.44 NR -2.5 - - - - 0.65 10.85 58
203 Sundaram Equity NR -3.3 - - - - - 2.43 10.27 NR -1.4 - - - - 0.40 10.51 581
204 Tata Focused Eqt NR - - - - - - 2.14 9.48 NR - - - - - 0.52 9.66 1285
205 Tata Multicap NR -0.7 - - - - - 2.19 11.15 NR 1.1 - - - - 0.83 11.61 1710
206 Tata Retrmnt Svngs Progressive  1.1 3.2 10.6 - 12 5 2.38 31.30  2.7 4.8 12.2 11 5 0.84 35.40 818
207 Taurus Starshare (Multi Cap)  -6.9 -3.6 3.0 5.3 40 37 2.61 103.44  -6.8 -3.5 3.4 40 38 2.55 107.35 201
208 Union Focused NR 5.9 - - - - - 2.57 11.63 NR 6.9 - - - - 1.53 11.77 175
209 Union Multi Cap  3.9 4.4 7.2 - 9 22 2.57 21.21  4.8 5.1 7.9 9 21 1.73 22.45 374
210 UTI Children’s Career Investment  2.1 0.8 7.6 8.1 24 20 2.76 38.03  3.0 1.8 8.5 23 20 1.74 40.19 330
211 UTI Equity  10.1 9.3 10.0 10.9 3 6 2.09 162.55  10.8 9.9 10.6 3 8 1.28 168.30 11386
Equity: Mid Cap 5.6 0.1 7.5 11.2 22 20 7.0 1.5 8.7 21 19
212 ABSL Midcap  -1.8 -6.1 4.1 8.0 22 20 2.22 267.06  -0.8 -5.3 5.0 21 19 1.23 285.54 2316
213 Axis Midcap  8.1 10.0 11.1 - 1 1 2.02 42.78  9.6 11.3 12.4 1 1 0.58 47.06 6732
214 Baroda Midcap  10.8 0.8 5.8 0.0 9 - 2.52 9.78  11.7 1.8 6.7 9 - 1.80 10.43 52
215 BNP Paribas Midcap  6.1 -2.5 6.5 12.3 18 14 2.35 34.17  7.6 -1.0 8.1 17 13 0.84 37.89 725
216 DSP Midcap  9.5 3.4 11.0 12.0 4 2 1.91 61.52  10.4 4.3 11.9 4 2 0.96 65.37 8274
217 Edelweiss Midcap  6.8 1.4 8.1 12.7 8 7 2.25 28.57  8.5 2.9 9.3 8 7 0.72 31.17 933
218 Franklin Prima  -1.6 -0.2 7.2 11.9 12 12 1.87 943.71  -0.8 0.8 8.3 13 12 1.08 1020.76 6367
219 HDFC Mid-Cap Opportunities  3.3 -1.0 7.8 12.5 14 9 1.86 54.56  4.0 -0.2 8.8 14 10 1.11 58.20 22084
220 ICICI Pru Midcap  -1.5 -2.5 6.3 9.7 17 15 2.36 93.41  -0.6 -1.5 7.3 19 15 1.37 100.38 1878
221 ICICI Prudential Midcap 150 ETF NR - - - - - - 0.27 65.38 NR - - - - - - - 32
222 IDBI Midcap  4.4 -2.9 - - 19 - 2.60 10.90  5.1 -1.3 - 18 - 1.70 11.67 184
223 Invesco India Midcap  8.3 3.7 9.1 12.8 3 6 2.44 53.12  9.8 5.3 10.9 3 4 0.74 59.90 1005
224 Kotak Emerging Equity  5.7 1.8 9.6 11.9 7 3 1.91 41.56  7.0 3.1 11.0 6 3 0.62 45.52 7535
225 L&T Midcap  4.1 -1.7 9.3 11.7 16 5 1.92 137.43  5.4 -0.7 10.4 16 5 0.74 147.51 5928
226 Mahindra Manulife Midcap Unnati Yjn NR 1.3 - - - - - 2.50 9.93 NR 2.9 - - - - 0.89 10.43 521
227 Mirae Asset Midcap NR 5.9 - - - - - 2.06 11.62 NR 7.7 - - - - 0.46 11.87 2476
228 Motilal Oswal Midcap 100 ETF NR 1.7 -4.1 5.3 - 20 16 0.20 17.87 NR - - - - - - - 42
229 Motilal Oswal Midcap 30  -4.5 -0.4 4.6 - 13 19 2.21 25.18  -3.4 0.8 5.9 12 17 0.98 27.34 1655
230 Motilal Oswal Nifty Midcap 150 NR 5.7 - - - - - 1.03 11.48 NR 6.4 - - - - 0.38 11.56 65
231 Nippon India ETF Nifty Midcap 150 NR 5.5 - - - - - 0.23 65.40 NR - - - - - - - 172
232 Nippon India Growth  5.2 0.6 8.0 8.2 10 8 2.04 1162.65  5.9 1.3 8.7 10 11 1.23 1227.28 7040
233 PGIM India Midcap Opp  26.4 4.7 7.8 - 2 10 2.44 22.55  28.5 6.4 9.2 2 8 0.69 24.32 330
234 Principal Midcap Fund NR - - - - - - 2.42 10.34 NR - - - - - 0.39 10.51 266
235 Quant Midcap NR 12.6 5.0 7.5 8.2 - - 2.48 63.53 NR 14.6 6.1 8.1 - - 0.57 65.90 13
236 SBI Magnum Midcap  8.2 -1.5 5.0 11.3 15 17 1.98 76.00  9.2 -0.6 6.1 15 16 1.23 81.72 3659
S&P BSE 150 MidCap TRI 7.7 0.1 9.1 9.6
S&P BSE 500 Total Return Index 0.2 2.9 8.7 8.0
S&P BSE Sensex Total Return Index -0.1 7.3 9.6 8.6

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

Mutual Fund Insight December 2020 55

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Equity: Mid Cap 5.6 0.1 7.5 11.2 22 20 7.0 1.5 8.7 21 19
237 Sundaram Midcap  -4.6 -5.1 4.8 9.8 21 18 2.00 434.16  -3.9 -4.3 5.5 20 18 1.16 455.47 5335
238 Tata Midcap Growth  5.7 2.3 7.7 11.9 6 11 2.40 148.80  7.0 3.5 8.8 5 9 1.21 159.75 869
239 Taurus Discovery (Midcap)  9.7 2.5 9.3 10.2 5 4 2.53 47.34  10.1 3.0 9.9 7 6 2.18 49.12 54
240 Union Midcap Fund NR - - - - - - 2.48 15.94 NR - - - - - 1.48 16.04 180
241 UTI Midcap  11.8 0.0 6.8 12.2 11 13 2.24 110.85  12.8 0.8 7.8 11 14 1.25 118.16 4049
Equity: Small Cap 9.8 -2.9 7.0 10.1 14 13 11.1 -1.8 8.1 14 13
242 ABSL Small Cap  0.0 -10.1 4.4 8.2 14 10 2.30 30.69  1.2 -9.0 5.5 14 10 1.08 33.20 2193
243 Axis Small Cap  6.8 7.4 11.3 - 1 2 1.98 33.70  8.7 8.8 12.7 1 2 0.23 36.63 2930
244 BOI AXA Small Cap NR 31.4 - - - - - 2.65 13.64 NR 33.8 - - - - 0.78 14.12 80
245 Canara Robeco Small Cap NR 21.3 - - - - - 2.52 11.49 NR 23.2 - - - - 0.80 11.83 495
246 DSP Small Cap  16.4 -1.7 7.6 12.9 6 6 2.00 60.77  17.4 -1.0 8.4 6 7 1.16 64.04 5320
247 Edelweiss Small Cap NR 14.2 - - - - - 2.45 12.55 NR 16.0 - - - - 0.90 12.88 530
248 Franklin Smaller Companies  -3.4 -6.6 4.1 11.6 11 12 1.91 47.98  -2.5 -5.7 5.3 11 11 1.09 52.20 5779
249 HDFC Small Cap  -4.6 -3.2 7.5 8.6 7 7 2.11 37.71  -3.7 -2.0 8.8 7 6 0.91 41.03 8741
250 HSBC Small Cap Eqt  5.6 -7.3 4.2 5.7 12 11 2.49 47.40  7.1 -6.3 5.2 12 12 1.09 50.75 316
251 ICICI Pru Small Cap  3.6 -3.5 5.2 8.9 8 9 2.30 26.07  5.1 -2.4 6.1 8 9 0.68 27.62 1437
252 IDBI Small Cap  -2.5 -4.5 - - 9 - 2.46 8.99  -1.5 -2.7 - 9 - 1.53 9.58 118
253 IDFC Emrgng Businesses NR - - - - - - 2.44 12.43 NR - - - - - 0.41 12.59 678
254 Invesco India Small Cap NR 4.9 - - - - - 2.56 11.11 NR 6.5 - - - - 0.70 11.47 640
255 ITI Small Cap Fund NR - - - - - - 2.51 9.32 NR - - - - - 0.31 9.47 230
256 Kotak Small Cap  13.5 1.8 9.1 10.7 3 4 2.26 80.97  15.1 3.2 10.6 3 3 0.72 89.36 1811
257 L&T Emerging Businesses  -4.6 -6.5 8.1 - 10 5 1.99 21.94  -3.5 -5.5 9.1 10 5 0.89 23.21 5419
258 Motilal Oswal Nifty Smallcap 250 NR 4.2 - - - - - 1.03 11.04 NR 4.9 - - - - 0.38 11.13 65
259 Nippon India Nifty Smallcap 250 Index Fu NR - - - - - - - 9.96 NR - - - - - - 9.96 -
260 Nippon India Small Cap  7.8 -1.0 9.3 14.9 5 3 2.13 41.41  8.7 0.0 10.4 5 4 1.18 44.59 9625
261 Principal Small Cap NR 17.2 - - - - - 2.59 11.85 NR 19.3 - - - - 0.79 12.17 214
262 Quant Small Cap NR 50.4 6.1 6.9 10.1 - - 2.48 61.05 NR 50.9 6.5 7.1 - - 2.38 62.29 49
263 SBI Small Cap  9.7 3.7 12.7 16.7 2 1 1.88 58.66  11.1 4.9 14.0 2 1 0.96 64.04 5321
264 Sundaram Small Cap  2.8 -8.7 2.3 7.7 13 13 2.41 78.78  3.8 -7.9 3.0 13 13 1.31 82.80 1064
265 Tata Small Cap NR 5.7 - - - - - 2.45 10.94 NR 7.5 - - - - 1.00 11.36 718
266 Union Small Cap  14.9 0.1 5.7 - 4 8 2.58 15.84  15.7 0.8 6.5 4 8 1.82 16.67 377
Equity: Value Oriented -1.8 -1.9 6.0 8.7 14 14 -0.9 -0.9 7.1 14 14
267 ABSL Pure Value  -6.1 -11.8 2.8 8.9 14 12 2.06 44.41  -5.0 -10.8 4.0 14 13 0.95 47.95 3788
268 HDFC Capital Builder Value  -2.9 -1.7 6.3 8.6 8 6 2.10 272.66  -2.0 -0.6 7.5 7 5 1.12 292.07 3879
269 ICICI Pru Value Discovery  4.0 1.3 5.4 11.2 4 10 1.87 147.89  4.6 2.1 6.4 4 9 1.28 158.44 15764
270 IDBI Long Term Value NR -1.6 - - - - - 2.58 10.20 NR -1.0 - - - - 1.77 10.50 101
271 IDFC Sterling Value  -3.5 -6.0 5.6 8.5 12 9 2.06 45.38  -2.5 -5.0 6.7 12 8 0.99 48.90 2629
272 Indiabulls Value  -2.1 -5.6 2.2 - 11 14 2.30 11.36  -0.4 -4.2 4.1 11 12 0.50 12.50 16
273 Invesco India Contra  3.2 4.1 10.2 11.0 2 1 2.04 49.78  4.4 5.4 11.7 2 1 0.56 55.14 4967
274 JM Value NR -7.1 -2.2 8.4 5.7 - - 2.54 31.14 NR -6.5 -1.5 9.5 - - 1.50 33.55 104
275 Kotak India EQ Contra  -1.6 4.1 9.1 8.5 1 3 2.44 53.42  -0.3 5.5 10.7 1 3 1.05 59.12 810
276 L&T India Value  -0.8 -1.9 7.1 11.0 9 4 1.91 35.25  0.2 -1.0 8.1 8 4 0.92 37.61 6310
277 Nippon India Value  -2.7 -0.5 6.1 7.8 5 7 2.19 72.41  -2.1 0.2 6.9 6 7 1.52 76.71 2849
278 Quantum Long Term Eqt Value  -4.9 -1.7 5.7 7.7 7 8 1.79 50.42  -4.5 -1.3 6.0 9 10 1.29 51.00 705
279 SBI Contra  3.8 -2.4 4.4 5.4 10 11 2.33 107.00  4.4 -1.8 5.1 10 11 1.71 112.34 1321
280 Tata Equity PE  -1.2 -0.7 10.0 10.3 6 2 1.96 135.41  0.2 0.6 11.2 5 2 0.78 145.32 4454
S&P BSE 100 Total Return Index -1.0 4.2 8.9 8.1
S&P BSE 150 MidCap TRI 7.7 0.1 9.1 9.6
S&P BSE 250 SmallCap TRI 4.4 -7.7 4.1 2.7
S&P BSE Sensex TRI -0.1 7.3 9.6 8.6

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

56 Mutual Fund Insight December 2020

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.

For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Equity: Value Oriented -1.8 -1.9 6.0 8.7 14 14 -0.9 -0.9 7.1 14 14
281 Templeton India Value  -10.0 -6.9 2.7 5.1 13 13 2.56 217.19  -9.1 -6.1 3.5 13 14 1.61 230.16 394
282 Union Value Discovery NR 0.0 - - - - - 2.52 10.63 NR 0.7 - - - - 1.78 10.80 119
283 UTI Value Opportunities  2.6 3.5 6.6 8.5 3 5 2.16 63.73  3.2 4.2 7.4 3 6 1.38 67.46 4340
Equity: ELSS -1.2 1.1 7.3 8.8 34 30 -0.1 2.1 8.3 34 30
284 ABSL Tax Relief 96  -1.4 1.4 8.1 9.5 16 12 1.89 139.65  -0.5 2.5 9.2 18 12 0.94 34.02 11123
285 Axis Long Term Equity  -1.8 6.7 9.4 14.1 3 5 1.72 48.39  -1.0 7.7 10.4 4 5 0.89 52.64 21836
286 Baroda ELSS 96  -0.7 -2.1 4.9 5.9 30 26 2.53 27.21  0.0 -1.3 5.8 31 25 1.93 33.48 166
287 BNP Paribas Long Term Equity  3.0 2.7 7.1 10.7 11 16 2.41 41.66  4.2 3.9 8.3 11 16 1.13 44.30 441
288 BOI AXA Tax Advantage  14.4 5.1 10.5 9.4 5 2 2.58 62.15  15.6 6.3 11.9 5 2 1.51 68.73 309
289 Canara Robeco Eqt Tax Saver  9.5 8.6 10.2 10.3 1 3 2.26 26.71  10.5 9.6 11.1 1 3 1.21 77.78 1181
290 DSP Tax Saver  -3.3 1.9 9.1 10.1 15 6 1.86 49.27  -2.4 3.0 10.2 15 8 0.92 52.35 6178
291 Edelweiss LT Eqt (Tax Svngs)  -3.1 0.2 5.2 8.1 20 24 2.38 46.35  -1.4 1.8 6.5 20 22 0.69 50.65 123
292 Essel Long Term Advantage  -4.9 -0.3 - - 21 - 2.33 13.91  -3.4 1.4 - 21 - 0.38 15.07 56
293 Franklin Taxshield  -9.5 -1.6 4.1 9.1 29 28 1.93 517.13  -8.7 -0.7 5.2 28 28 1.09 554.56 3473
294 HDFC Taxsaver  -11.0 -5.1 4.0 6.2 33 29 2.02 458.78  -10.5 -4.4 4.6 33 29 1.37 481.54 6587
295 HSBC Tax Saver Eqt  -3.0 -1.5 6.1 8.3 27 20 2.48 35.94  -1.7 -0.5 7.1 27 20 1.26 38.35 137
296 ICICI Pru LT Eqt (Tax Saving)  -4.5 2.2 6.2 9.3 13 19 2.08 365.46  -3.9 3.1 7.3 13 19 1.27 393.27 6328
297 IDBI Eqt Advantage  -8.1 0.5 4.9 - 19 27 2.42 26.09  -7.0 2.0 6.3 19 23 1.20 28.37 473
298 IDFC Tax Advantage (ELSS)  -0.6 -1.1 7.4 9.4 25 15 2.06 53.90  0.5 0.1 8.6 24 13 1.01 58.67 2228
299 Indiabulls Tax Savings NR -4.7 - - - - - 2.25 9.48 NR -3.4 - - - - 0.50 9.79 83
300 Invesco India Tax  1.3 4.5 8.7 11.0 6 9 2.33 53.67  2.5 5.9 10.4 6 6 1.00 59.96 1134
301 ITI Long Term Equity NR -3.2 - - - - - 2.58 10.00 NR -1.1 - - - - 0.38 10.23 40
302 JM Tax Gain  -3.0 3.3 9.8 8.4 10 4 2.34 17.90  -2.3 4.1 11.1 10 4 0.80 19.50 38
303 Kotak Tax Saver  1.7 3.3 8.7 8.5 9 10 2.26 46.15  3.0 4.5 10.2 7 9 0.98 50.91 1275
304 L&T Tax Advantage  -1.6 -0.8 7.7 8.6 24 14 2.03 53.86  -1.0 -0.2 8.4 25 15 1.36 56.62 3087
305 LIC MF Tax  -5.6 2.6 7.0 7.7 12 17 2.53 67.01  -4.5 3.8 8.2 12 17 1.29 72.39 269
306 Mahindra Manulife ELSS Kar Bcht Yjn  -4.9 -2.1 - - 31 - 2.42 11.29  -3.3 -0.3 - 26 - 0.80 12.26 296
307 Mirae Asset Tax Saver  5.1 6.4 - - 4 - 1.77 19.48  6.7 8.0 - 3 - 0.36 20.90 4270
308 Motilal Oswal Long Term Eqt  -9.0 -0.4 8.8 - 23 8 2.15 16.83  -7.8 0.9 10.3 22 7 0.71 18.20 1553
309 Nippon India Tax Saver (ELSS)  -16.0 -11.2 0.6 7.0 34 30 2.06 45.79  -15.4 -10.5 1.4 34 30 1.23 48.64 8783
310 Parag Parikh Tax Saver NR 14.3 - - - - - 2.33 12.30 NR 15.7 - - - - 1.13 12.49 70
311 PGIM India Long Term Eqt  -4.0 1.1 - - 18 - 2.48 14.21  -2.7 2.8 - 17 - 1.37 15.22 307
312 Principal Tax Savings  0.9 -1.4 8.0 9.4 26 13 2.56 205.62  1.4 -0.8 8.5 29 14 2.04 214.15 398
313 Quant Tax  18.7 7.8 15.3 7.7 2 1 2.48 115.69  20.8 9.0 16.1 2 1 0.57 120.62 17
314 Quantum Tax Saving  -4.5 -1.6 5.9 7.7 28 22 1.79 50.19  -4.0 -1.2 6.3 30 24 1.29 50.79 69
315 SBI Long Term Equity  -0.5 -0.3 5.0 8.1 22 25 2.12 142.66  0.1 0.3 5.6 23 27 1.30 149.51 7414
316 Shriram Long Term Equity NR 0.8 - - - - - 2.55 11.23 NR 2.7 - - - - 0.60 11.62 28
317 Sundaram Diversified Equity  -7.5 -2.9 5.2 6.8 32 23 2.15 94.18  -7.2 -2.4 5.7 32 26 1.78 97.18 2197
318 Tata India Tax Savings  -4.1 1.4 8.5 10.7 17 11 2.08 53.70  -2.7 2.8 9.9 16 10 0.73 100.96 2070
319 Taurus Tax Shield  0.8 3.4 8.8 7.4 8 7 2.41 80.65  1.6 4.2 9.7 8 11 1.86 85.26 64
320 Union Long Term Equity  3.2 3.6 6.0 - 7 21 2.53 26.28  3.7 4.1 6.8 9 21 1.96 27.47 270
321 UTI Long Term Equity  2.9 2.1 7.0 7.7 14 18 2.41 90.95  3.9 3.0 8.0 14 18 1.41 97.14 1338
Equity: Sectoral-Banking -21.5 -5.8 3.6 2.0 17 15 -16.5 -1.6 7.8 11 10
322 ABSL Banking & Fin Services  -20.3 -5.0 7.8 - 11 3 2.38 23.72  -19.4 -4.0 9.0 7 3 1.25 25.41 1464
323 ABSL Banking ETF NR -20.9 - - - - - 0.16 237.57 NR - - - - - - - 89
324 Baroda Banking & Fin Services  -17.0 -0.8 6.3 - 6 10 2.57 20.20  -16.4 -0.1 7.1 6 7 1.89 21.45 40
S&P BSE 100 Total Return Index -1.0 4.2 8.9 8.1
S&P BSE 500 Total Return Index 0.2 2.9 8.7 8.0
S&P BSE Bankex Total Return Index -19.3 -0.8 7.2 7.9
S&P BSE Sensex Total Return Index -0.1 7.3 9.6 8.6

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

Mutual Fund Insight December 2020 57

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Equity: Sectoral-Banking -21.5 -5.8 3.6 2.0 17 15 -16.5 -1.6 7.8 11 10
325 Edelweiss ETF Nifty Bank NR -21.2 -1.6 - - 7 - 0.12 2413.30 NR - - - - - - - 1
326 HDFC Banking ETF NR - - - - - - 0.16 239.01 NR - - - - - - - 33
327 ICICI Pru Bank ETF NR -21.1 - - - - - 0.16 237.66 NR - - - - - - - 548
328 ICICI Pru Banking & Fin Services  -21.9 -5.3 7.7 9.6 12 5 2.36 51.52  -21.2 -4.3 8.9 8 4 1.32 55.79 2685
329 ICICI Pru Private Banks ETF NR -21.2 - - - - - 0.16 130.69 NR - - - - - - - 1043
330 IDBI Banking & Fin Services NR -15.4 - - - - - 2.49 9.09 NR -14.7 - - - - 1.49 9.45 91
331 Invesco India Financial Services  -11.8 0.9 9.6 8.7 4 2 2.75 53.04  -10.9 2.4 11.3 4 2 1.16 59.47 195
332 Kotak Banking ETF NR -21.8 -1.9 6.6 - 10 8 0.18 241.18 NR - - - - - - - 4392
333 Kotak PSU Bank ETF NR -50.1 -31.1 -16.3 -12.3 17 15 0.49 124.07 NR - - - - - - - 24
334 LIC MF Banking & Fin Services  -17.2 -9.1 1.3 - 15 13 2.57 9.52  -16.3 -8.1 2.4 11 10 1.52 10.08 47
335 Motilal Oswal Nifty Bank NR -21.2 - - - - - 1.03 8.66 NR -20.7 - - - - 0.38 8.72 65
336 Nippon India Banking  -24.4 -7.8 3.6 5.6 13 11 2.36 205.50  -23.8 -7.1 4.4 9 9 1.51 216.30 2010
337 Nippon India ETF Bank BeES NR -21.7 -1.8 6.5 7.2 9 9 0.18 240.30 NR - - - - - - - 5307
338 Nippon India ETF PSU Bank BeES NR -49.9 -31.0 -16.3 -12.1 16 14 0.49 13.82 NR - - - - - - - 30
339 SBI Banking & Fin Services  -11.7 4.3 12.5 - 1 1 2.15 16.77  -10.7 5.6 13.7 1 1 1.10 17.73 1495
340 SBI ETF Nifty Bank NR -21.7 -1.8 6.6 - 8 7 0.20 238.21 NR - - - - - - - 2245
341 SBI ETF Private Bank NR - - - - - - - 132.46 NR - - - - - - - -
342 Sundaram Fin Services Opp  -14.2 -0.4 7.3 5.3 5 6 2.70 38.67  -13.4 0.5 8.2 5 6 1.24 40.80 208
343 Tata Banking & Fin Services  -11.9 1.2 - - 3 - 2.59 17.81  -10.5 2.8 - 2 - 1.08 19.29 449
344 Tata Nifty Private Bank ETF NR -20.5 - - - - - 0.13 133.49 NR - - - - - - - 10
345 Taurus Banking & Financial Srvcs  -14.9 1.7 7.8 - 2 4 2.36 23.39  -14.4 2.6 8.9 3 5 1.46 25.20 8
346 UTI Bank Exchange Traded Fund NR - - - - - - - 238.95 NR - - - - - - - 35
347 UTI Banking & Fin Services  -22.6 -8.4 3.5 4.4 14 12 2.83 74.52  -21.9 -7.5 4.6 10 8 1.85 80.70 481
Equity: Sectoral-Infrastructure -11.2 -7.7 2.5 3.1 21 21 -10.7 -7.1 3.4 20 20
348 ABSL Infrastructure  -12.3 -12.3 0.6 3.2 18 18 2.60 26.12  -11.6 -11.6 1.3 17 17 1.83 27.69 358
349 BOI AXA Mfg & Infrastructure  6.8 -1.8 6.8 3.8 2 3 2.50 16.39  8.2 -0.5 8.2 2 1 1.24 18.00 39
350 Canara Robeco Infrastructure  -9.9 -8.1 2.1 5.4 12 15 2.57 40.52  -9.1 -7.3 3.0 11 14 1.65 43.09 88
351 DSP T.I.G.E.R.  -17.4 -8.2 2.4 3.8 13 14 2.50 76.23  -16.9 -7.6 3.0 13 13 1.95 79.61 757
352 Franklin Build India  -16.7 -6.2 4.0 10.1 8 7 2.37 34.56  -15.8 -5.1 5.3 7 6 1.38 37.86 821
353 HDFC Infrastructure  -31.4 -20.8 -7.2 -2.3 21 21 2.65 10.73  -30.9 -20.1 -6.5 20 20 1.94 11.43 409
354 HSBC Infrastructure Eqt  -12.9 -19.0 -4.9 -1.4 20 20 2.56 13.37  -11.7 -18.2 -4.1 19 19 1.21 14.27 71
355 ICICI Pru Infrastructure  -18.5 -9.3 0.5 2.5 16 19 2.47 40.69  -18.1 -8.6 1.2 15 18 1.97 42.88 944
356 IDFC Infrastructure  -14.6 -13.7 1.4 - 19 17 2.51 12.10  -13.7 -12.7 2.8 18 15 1.43 13.35 470
357 Invesco India Infrastructure  -2.9 -2.4 5.3 6.2 5 5 2.54 16.81  -1.6 -0.8 7.0 3 4 1.35 18.94 45
358 Kotak Infra & Eco Reform  -13.1 -8.5 2.5 5.7 14 12 2.52 17.23  -12.0 -7.3 4.0 12 8 1.31 19.05 235
359 L&T Infrastructure  -17.9 -10.8 4.1 4.5 17 6 2.27 12.84  -16.9 -9.8 5.1 16 7 0.97 13.72 1106
360 LIC MF Infrastructure  -11.4 -4.4 2.7 2.2 7 9 2.52 12.89  -10.9 -3.4 3.8 6 10 1.22 13.90 46
361 Nippon India ETF Infra BeES NR -5.4 -3.8 2.5 -1.0 6 13 1.09 324.36 NR - - - - - - - 11
362 Nippon India Power & Infra  -9.7 -9.1 3.2 0.0 15 8 2.36 86.25  -9.2 -8.6 3.9 14 9 1.80 90.37 1068
363 Quant Infrastructure NR 2.7 0.8 6.9 0.3 1 2 2.48 9.48 NR 4.4 1.8 7.6 1 3 2.38 9.82 2
364 SBI Infrastructure  -7.4 -2.4 5.5 2.8 4 4 2.58 14.64  -6.9 -1.6 6.2 4 5 2.02 15.36 432
365 Sundaram Infrastructure Adv  -10.7 -7.0 2.7 0.7 10 11 2.66 28.57  -10.3 -6.4 3.2 9 12 2.19 29.77 428
366 Tata Infrastructure  -13.1 -6.3 2.7 2.5 9 10 2.55 48.42  -12.4 -5.7 3.3 8 11 1.84 50.48 408
367 Taurus Infrastructure NR -3.8 -2.2 7.2 4.3 3 1 2.47 23.68 NR -3.4 -1.8 7.9 5 2 2.02 24.88 4
368 UTI Infrastructure  -15.1 -7.3 1.8 1.9 11 16 2.43 45.02  -14.8 -6.9 2.2 10 16 2.09 46.55 972
S&P BSE Bankex Total Return Index -19.3 -0.8 7.2 7.9
S&P BSE Healthcare TRI 46.6 11.2 1.9 12.3
S&P BSE India Infrastructure TRI -21.5 -14.5 -1.0 0.5

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

58 Mutual Fund Insight December 2020

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.

For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Equity: Sectoral-Pharma 52.0 14.9 4.7 13.9 4 3 54.2 16.3 5.8 4 3
369 ABSL Pharma & Healthcare NR 38.8 - - - - - 2.71 14.64 NR 41.6 - - - - 0.97 15.02 416
370 DSP Healthcare NR 65.2 - - - - - 2.36 17.40 NR 68.1 - - - - 0.93 17.99 833
371 ICICI Pru Pharma Hlthcr & Diagn NR 56.4 - - - - - 2.32 15.64 NR 58.5 - - - - 1.45 16.17 1988
372 IDBI Healthcare NR 46.3 - - - - - 2.78 15.19 NR 49.0 - - - - 1.43 15.64 55
373 Mirae Asset Healthcare NR 60.1 - - - - - 2.30 17.01 NR 62.7 - - - - 0.69 17.66 1006
374 Nippon India Pharma NR 49.4 18.5 7.1 14.8 1 1 2.19 221.81 NR 50.7 19.5 8.1 1 1 1.16 236.68 3911
375 SBI Healthcare Opportunities NR 50.2 11.4 2.5 14.6 4 3 2.47 174.56 NR 51.9 12.7 3.7 4 3 1.14 190.03 1434
376 Tata India Pharma & HealthCare NR 47.1 15.7 - - 2 - 2.65 13.40 NR 49.3 17.6 - 2 - 1.20 14.52 337
377 UTI Healthcare NR 54.5 14.1 4.6 12.3 3 2 2.79 127.34 NR 55.9 15.2 5.6 3 2 1.84 136.73 586
Equity: Sectoral-Technology 38.1 23.9 14.1 14.4 5 4 39.5 25.2 15.0 5 4
378 ABSL Digital India NR 40.3 24.1 15.7 13.6 3 1 2.63 74.89 NR 41.6 25.3 16.6 3 1 1.59 79.76 611
379 Franklin Technology NR 42.0 21.6 13.8 13.3 5 3 2.67 223.42 NR 43.4 22.5 14.6 5 3 1.61 234.66 357
380 ICICI Pru Technology NR 44.5 25.7 14.4 16.5 1 2 2.51 82.84 NR 45.5 26.8 15.3 2 2 1.96 88.03 692
381 ICICI Prudential IT ETF NR - - - - - - 0.22 210.50 NR - - - - - - - 1325
382 Nippon India ETF Nifty IT NR - - - - - - 0.22 21.08 NR - - - - - - - 708
383 SBI ETF IT NR - - - - - - - 210.30 NR - - - - - - - -
384 SBI Technology Opportunities NR 30.1 22.5 12.5 14.1 4 4 2.81 51.12 NR 31.2 23.8 13.6 4 4 1.69 91.66 273
385 Tata Digital India NR 33.8 25.3 - - 2 - 2.61 19.98 NR 36.0 27.5 - 1 - 1.11 21.71 540
Equity: Thematic -0.3 0.4 6.3 8.9 13 13 0.8 1.3 6.9 12 11
386 ABSL Intl Eqt B NR -1.9 -0.3 5.1 6.2 9 10 2.59 18.05 NR -1.5 0.1 5.6 9 8 2.23 18.77 74
387 ABSL Manufacturing Equity NR 3.9 -1.7 6.5 - 11 7 2.63 13.62 NR 4.8 -0.9 - 10 - 1.74 14.35 506
388 Aditya Birla Sun Life Special Opp Fund NR - - - - - - - 9.97 NR - - - - - - 9.98 -
389 Axis ESG Eqt Fund NR - - - - - - 2.01 11.10 NR - - - - - 0.40 11.23 1680
390 DSP Quant NR 5.6 - - - - - 1.25 11.30 NR 6.3 - - - - 0.56 11.42 342
391 Franklin Opportunities NR 4.4 1.3 6.4 8.3 6 8 2.53 76.36 NR 5.5 2.1 7.3 6 5 1.59 80.62 504
392 ICICI Pru Commodities NR 8.1 - - - - - 2.63 11.02 NR 9.8 - - - - 0.84 11.20 55
393 ICICI Pru Exports & Services NR 0.5 -0.5 3.2 11.8 10 12 2.64 56.35 NR 1.0 0.4 4.1 8 10 2.06 59.82 538
394 ICICI Pru FMCG NR -10.6 3.1 7.6 13.2 4 4 2.66 231.65 NR -10.0 4.0 8.5 4 3 1.89 245.43 522
395 ICICI Pru India Opportunities NR -12.3 - - - - - 2.13 8.91 NR -10.9 - - - - 0.58 9.18 2394
396 ICICI Pru Manufacture in India NR -6.9 - - - - - 2.49 9.80 NR -5.7 - - - - 1.61 10.10 640
397 ICICI Prudential ESG Fund NR - - - - - - - 10.00 NR - - - - - - 10.01 -
398 Kotak Pioneer NR - - - - - - 2.25 11.36 NR - - - - - 0.45 11.56 752
399 L&T Business Cycles NR -7.8 -5.2 3.7 - 12 11 2.56 14.29 NR -7.0 -4.5 4.5 11 9 1.59 14.95 491
400 Mahindra Mnlife Rrl Bhrt & Con Yjn NR -9.7 - - - - - 2.45 9.39 NR -8.1 - - - - 0.91 9.74 54
401 Nippon India ETF Dividend Opp NR -5.5 0.5 7.9 - 8 3 0.16 28.69 NR - - - - - - - 2
402 Nippon India Quant NR 1.6 1.8 6.6 6.1 5 6 0.97 26.09 NR 2.4 2.5 6.9 5 7 0.20 27.45 22
403 Quantum India ESG Eqt NR 6.6 - - - - - 1.64 11.25 NR 7.3 - - - - 0.90 11.33 20
404 SBI Equity Minimum Variance NR 5.3 - - - - - 0.73 10.87 NR 5.7 - - - - 0.33 10.94 54
405 SBI Magnum COMMA NR 8.4 0.6 12.6 4.5 7 1 2.87 41.33 NR 9.1 1.3 13.4 7 1 2.03 43.50 255
406 SBI Magnum Equity ESG NR -4.1 4.1 7.6 8.7 3 5 2.06 107.07 NR -3.4 5.0 8.5 3 4 1.37 113.65 2731
407 Sundaram Services NR -2.6 - - - - - 2.37 11.85 NR -1.6 - - - - 1.23 12.09 1115
408 Tata Ethical NR 6.8 4.2 6.0 9.7 2 9 2.49 176.15 NR 8.0 5.4 7.0 2 6 1.32 189.94 617
409 Tata Quant Fund NR - - - - - - 2.58 7.98 NR - - - - - 0.89 8.10 95
410 Taurus Ethical NR 10.9 7.9 8.0 8.9 1 2 2.47 59.44 NR 12.1 9.0 9.0 1 2 1.72 63.50 44
411 UTI Transportation & Logistics NR -8.1 -9.9 0.1 11.2 13 13 2.51 87.68 NR -7.2 -8.9 1.3 12 11 1.39 95.13 1259
S&P BSE 500 Total Return Index 0.2 2.9 8.7 8.0
S&P BSE Healthcare TRI 46.6 11.2 1.9 12.3
S&P BSE IT Total Return Index 39.8 29.1 15.6 15.6
S&P BSE Sensex Total Return Index -0.1 7.3 9.6 8.6

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

Mutual Fund Insight December 2020 59

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Equity: Thematic-Dividend Yield 0.7 -1.0 6.4 7.1 5 5 1.5 -0.3 7.1 5 5
412 ABSL Dividend Yield NR 0.8 -3.9 3.3 5.6 4 5 2.53 161.17 NR 1.5 -3.2 4.1 4 5 1.79 170.90 678
413 ICICI Pru Dividend Yield Eqt NR -8.3 -6.7 4.0 - 5 4 2.65 14.73 NR -7.7 -5.9 4.7 5 4 1.83 15.44 159
414 IDBI Dividend Yield NR 7.0 - - - - - 2.64 11.59 NR 8.5 - - - - 1.61 11.93 84
415 Principal Dividend Yield NR 2.7 2.2 9.9 7.9 2 1 2.58 55.60 NR 3.2 2.8 10.5 2 1 2.04 57.93 168
416 Templeton India Eqt Income NR 2.5 0.7 7.3 8.1 3 3 2.67 47.33 NR 3.6 1.5 8.1 3 2 1.39 49.91 799
417 UTI Dividend Yield NR -0.5 2.5 7.3 6.9 1 2 2.18 66.65 NR 0.0 3.1 8.0 1 3 1.60 69.93 2233
Equity: Thematic-MNC 1.0 2.8 5.8 12.6 3 3 2.0 3.7 6.8 3 3
418 ABSL MNC NR -4.6 2.1 5.5 13.4 3 2 1.95 764.30 NR -3.8 3.0 6.5 3 2 1.05 821.04 3788
419 ICICI Pru MNC NR 8.9 - - - - - 2.54 11.37 NR 10.5 - - - - 1.08 11.59 535
420 SBI Magnum Global NR 2.6 4.4 6.7 12.0 1 1 2.03 186.32 NR 3.4 5.2 7.6 1 1 1.30 198.51 3926
421 UTI MNC NR -3.0 2.1 5.2 12.5 2 3 2.39 198.15 NR -2.1 3.0 6.1 2 3 1.38 211.77 2187
Equity: Thematic-Energy -1.3 -4.1 10.4 6.0 2 1 0.1 -2.9 11.3 2 1
422 DSP Natural Rsrcs and New Energy NR -13.1 -9.0 10.4 6.0 2 1 2.49 28.18 NR -12.2 -8.3 11.3 2 1 1.46 29.72 301
423 Tata Resources & Energy NR 10.5 0.8 - - 1 - 2.53 16.55 NR 12.5 2.5 - 1 - 1.10 18.00 37
Equity: Thematic-PSU -23.8 -13.5 -0.6 0.2 3 3 -17.7 -9.8 2.6 2 2
424 ABSL PSU Eqt NR - - - - - - 2.51 8.00 NR - - - - - - 8.13 249
425 CPSE ETF NR -34.7 -19.0 -4.9 - 3 3 0.01 16.34 NR - - - - - - - 9929
426 Invesco India PSU Equity NR -9.8 -5.9 5.0 3.3 1 1 2.53 17.05 NR -9.0 -4.6 6.5 1 1 1.15 18.95 127
427 SBI PSU NR -26.8 -15.7 -2.0 -3.0 2 2 2.57 7.93 NR -26.4 -15.0 -1.3 2 2 1.97 8.30 152
Equity: Thematic-Consumption -1.5 2.7 8.5 10.5 9 8 -0.2 3.8 9.6 8 7
428 ABSL India GenNext NR -3.4 4.1 10.2 12.8 3 3 2.33 86.92 NR -2.2 5.3 11.4 3 3 1.10 94.26 1535
429 BNP Paribas India Consumption NR 2.7 - - - - - 2.41 12.95 NR 4.4 - - - - 0.89 13.38 547
430 Canara Robeco Consumer Trends NR 0.9 7.0 11.5 11.4 1 1 2.61 43.30 NR 2.2 8.4 12.8 1 1 1.28 46.83 412
431 ICICI Pru Bharat Consumption NR -8.4 - - - - - 2.49 9.92 NR -7.0 - - - - 1.09 10.16 363
432 Mirae Asset Great Consumer NR -4.3 4.7 10.3 - 2 2 2.19 35.71 NR -2.8 6.3 11.9 2 2 0.64 39.64 1003
433 Nippon India Consumption NR 0.1 3.3 5.5 8.5 4 8 2.76 69.71 NR 0.9 4.1 6.4 5 7 1.94 74.01 93
434 Nippon India ETF Consumption NR -2.2 3.2 8.7 - 5 5 0.35 53.84 NR - - - - - - - 13
435 Quant Consumption NR 19.8 4.6 11.8 5.2 - - 2.48 30.48 NR 21.5 5.6 12.8 - - 2.38 32.36 2
436 SBI Consumption Opportunities NR -12.9 -0.6 6.6 13.1 8 6 2.47 62.65 NR -12.0 0.5 7.7 7 5 1.50 112.84 577
437 Sundaram Rural & Consumption NR -4.8 -1.9 9.4 9.1 9 4 2.27 40.52 NR -4.0 -1.2 10.2 8 4 1.45 42.62 1477
438 Tata India Consumer NR -1.6 2.8 - - 6 - 2.26 17.90 NR -0.2 4.4 - 4 - 0.87 19.37 1167
439 UTI India Consumer NR -4.0 1.7 6.2 7.9 7 7 2.66 26.34 NR -3.6 2.2 6.8 6 6 2.12 27.52 254
Equity: International 11.3 7.5 8.6 7.5 26 26 11.3 7.7 9.1 24 22
440 ABSL Commodity Eqt Global Agri NR -6.7 -2.0 1.7 3.0 24 23 1.65 21.99 NR -6.4 -1.7 2.1 22 20 1.20 22.67 6
441 ABSL Global Emerging Opp NR 23.1 10.0 9.1 2.3 8 11 1.13 16.15 NR 23.7 10.4 9.3 7 10 0.63 16.50 141
442 ABSL Global Real Estate NR -16.8 0.5 -0.1 - 21 25 1.28 17.57 NR -16.4 1.0 0.4 19 21 0.83 18.20 14
443 ABSL Intl Eqt A NR 6.8 11.5 7.8 10.5 7 16 2.60 24.11 NR 7.6 12.1 8.4 6 14 1.88 25.14 90
444 Axis Global Eqt Alpha Fund of Fund NR - - - - - - - 9.76 NR - - - - - - 9.77 887
445 DSP Global Allocation NR 14.4 8.8 7.0 - - - 2.10 14.73 NR 14.9 9.3 7.4 - - 1.56 15.12 34
446 DSP US Flexible Equity NR 16.2 12.4 11.8 - - - 2.45 30.45 NR 16.9 13.2 12.6 - - 1.60 32.06 250
447 DSP World Agriculture NR 13.0 5.2 6.0 - - - 2.45 18.50 NR 13.2 5.5 6.4 - - 2.31 18.96 34
448 DSP World Energy NR -13.8 -4.6 -1.5 1.0 - - 2.13 10.96 NR -13.5 -4.3 -1.2 - - 1.55 11.21 32
449 DSP World Gold NR 40.5 18.0 17.5 0.9 - - 2.46 19.48 NR 41.1 18.5 18.1 - - 1.85 20.19 860
450 DSP World Mining NR 21.6 9.4 14.2 -0.9 - - 2.45 10.03 NR 22.1 10.0 14.8 - - 1.69 10.46 47
451 Edelweiss ASEAN Eqt Off Shore NR -14.6 -1.1 4.4 - 22 21 1.41 18.20 NR -14.0 -0.4 5.4 20 17 0.71 19.64 37
S&P BSE 500 Total Return Index 0.2 2.9 8.7 8.0
S&P BSE Cons Dis Goods & Ser TRI -2.9 -2.6 7.5 9.2
S&P BSE Energy Total Return Index 17.4 13.6 21.9 9.9
S&P BSE PSU Total Return Index -34.0 -18.8 -4.5 -5.3
S&P BSE Sensex Total Return Index -0.1 7.3 9.6 8.6

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

60 Mutual Fund Insight December 2020

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For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Equity: International 11.3 7.5 8.6 7.5 26 26 11.3 7.7 9.1 24 22
452 Edelweiss Emrgng Mkt Opp Eqt Offshr NR 14.0 7.6 10.7 - 10 8 1.23 14.75 NR 15.1 8.5 11.4 9 7 0.17 15.37 18
453 Edelweiss Eur Dynamic Eqt Offshore NR -3.3 -1.1 1.4 - 23 24 1.32 10.91 NR -2.6 -0.4 2.3 21 19 0.58 11.58 26
454 Edelweiss Grtr China Eqt Off-shore NR 51.7 20.1 19.0 14.8 4 2 1.39 45.44 NR 52.9 21.1 20.1 3 1 0.56 48.87 388
455 Edelweiss US Tech Eqt FOF NR - - - - - - 1.47 14.01 NR - - - - - 0.39 14.11 495
456 Edelweiss US Value Eqt Offshore NR -2.4 5.1 6.1 - 17 18 1.57 16.28 NR -1.5 6.0 6.8 15 15 0.72 17.26 39
457 Franklin Asian Equity NR 22.1 8.6 12.5 9.9 9 7 2.58 27.82 NR 22.9 9.3 13.2 8 6 2.01 29.23 181
458 Franklin Feeder Franklin Eur Grth NR -18.1 -9.1 -3.1 - 26 26 1.35 7.53 NR -17.4 -8.2 -2.0 24 22 0.59 8.14 18
459 Franklin Feeder Franklin US Opp NR 38.5 22.6 16.7 - 3 3 1.57 44.85 NR 39.8 23.7 17.7 2 3 0.55 48.38 2252
460 HSBC Asia Pacific (ExJapan) Div Yld NR 5.5 6.0 9.7 - 14 10 2.09 15.69 NR 6.3 6.8 10.5 14 8 1.31 16.46 6
461 HSBC Brazil NR -36.8 -8.9 4.9 - 25 20 2.41 5.69 NR -36.3 -8.2 - 23 - 1.60 6.03 15
462 HSBC Global Consumer Opp NR 4.6 6.2 8.0 - 12 15 2.15 14.43 NR 5.4 6.9 8.8 11 13 1.53 15.03 4
463 HSBC Global Emerging Markets NR 15.9 6.1 10.0 5.2 13 9 2.45 16.54 NR 16.7 6.9 - 12 - 1.70 17.50 12
464 ICICI Pru Global Advtg (FOF) NR 10.4 - - - - - 1.03 11.78 NR 11.0 - - - - 0.46 11.85 37
465 ICICI Pru Global Stable Eqt (FOF) NR -4.4 4.3 5.0 - - - 1.28 15.40 NR -3.4 5.2 5.9 - - 0.19 16.29 88
466 ICICI Pru US Bluechip Eqt NR 8.9 14.4 12.8 - 6 6 2.56 32.60 NR 9.9 15.4 13.7 5 5 1.63 34.82 822
467 Invesco (I) Feeder Global Eqt Incm NR -4.7 1.3 3.3 - - - 1.14 12.62 NR -4.1 2.3 4.4 - - 0.51 13.56 6
468 Invesco India Feeder Pan Eur Eqt NR -14.4 -5.8 -1.6 - - - 0.65 9.07 NR -13.9 -5.0 -0.7 - - 0.29 9.70 20
469 Kotak Global Emerging Market NR 17.7 7.0 8.0 6.8 11 14 1.65 18.98 NR 18.3 7.7 8.9 10 11 1.16 20.09 90
470 Motilal Oswal NASDAQ 100 ETF NR 47.7 27.6 22.2 - 1 1 0.54 826.19 NR - - - - - - - 1714
471 Motilal Oswal Nasdaq 100 FOF NR 45.7 - - - - - 0.50 17.65 NR 46.3 - - - - 0.10 17.78 1144
472 Motilal Oswal S&P 500 Index Fund NR - - - - - - 1.19 11.16 NR - - - - - 0.49 11.20 467
473 Nippon India ETF Hang Seng BeES NR -2.5 2.0 6.4 8.3 20 17 0.86 299.22 NR - - - - - - - 13
474 Nippon India Japan Equity NR 2.2 5.8 5.4 - 15 19 2.30 14.13 NR 3.3 6.8 6.3 13 16 0.83 14.86 59
475 Nippon India US Eqt Opportunities NR 12.9 15.1 13.7 - 5 5 2.68 18.61 NR 14.3 16.4 14.8 4 4 1.15 19.64 200
476 PGIM India Emrgng Markets Eqt Fund NR 9.8 4.2 3.7 6.7 19 22 0.97 15.36 NR 10.6 5.5 4.9 17 18 0.62 16.62 4
477 PGIM India Global Eqt Opp NR 62.3 26.6 16.5 10.4 2 4 2.37 30.64 NR 63.9 28.1 17.8 1 2 1.11 33.05 321
478 Principal Global Opportunities NR 6.7 4.4 8.9 6.4 18 12 1.43 32.07 NR 7.1 4.8 9.4 18 9 1.01 33.11 19
479 Sundaram Global Brand NR 11.6 5.1 8.2 5.5 16 13 1.65 19.12 NR 12.2 5.7 8.8 16 12 1.03 19.96 45
S&P BSE 500 Total Return Index 0.2 2.9 8.7 8.0

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

Mutual Fund Insight December 2020 61

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For more on funds, visit www.valueresearchonline.com

Hybrid REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Hybrid: Aggressive Hybrid 0.7 2.2 6.9 8.4 31 24 1.9 3.3 8.0 31 24
480 ABSL Eq Hybrid ‘95  -2.7 -0.7 5.6 8.6 29 18 1.78 738.70  -1.9 0.2 6.8 29 18 0.95 797.50 7647
481 ABSL Retirement 40s NR 0.9 - - - - - 2.53 10.42 NR 2.6 - - - - 0.95 10.71 74
482 Axis Equity Hybrid NR 0.4 - - - - - 2.16 11.20 NR 1.8 - - - - 0.75 11.58 1551
483 Axis Retrmnt Svngs - Agrssv Plan NR - - - - - - 2.38 10.07 NR - - - - - 0.63 10.22 468
484 Baroda Hybrid Equity  1.4 0.0 5.7 6.6 27 17 2.46 56.02  2.1 1.0 6.9 26 17 1.85 60.96 418
485 BNP Paribas Substantial Eqt Hybrid  1.1 6.4 - - 3 - 2.42 12.98  2.8 8.0 - 3 - 0.76 13.73 452
486 BOI AXA Mid & Small Cap Eqt & Debt  15.0 0.3 - - 24 - 2.62 13.83  16.0 1.2 - 25 - 1.78 14.36 333
487 Canara Robeco Eqt Hybrid  7.3 7.0 9.3 10.9 2 4 1.99 177.35  8.5 8.3 10.6 2 4 0.85 189.85 3438
488 DSP Equity & Bond  2.0 4.6 8.6 9.0 5 7 1.92 165.62  3.0 5.7 9.7 6 7 0.87 177.36 5502
489 Edelweiss Agrsv Hybrid NR -0.9 3.0 6.0 6.7 - - 2.36 26.11 NR 0.7 4.3 7.0 - - 0.57 27.63 17
490 Essel Equity Hybrid NR -3.1 - - - - - 2.35 10.49 NR -1.4 - - - - 0.48 10.95 139
491 Franklin Eqt Hybrid  -0.9 2.1 6.0 9.3 15 15 2.21 121.70  0.1 3.3 7.3 15 14 1.22 132.43 1278
492 Franklin Life Stage FoF 20s  -7.4 -2.2 3.9 7.2 - - 1.32 76.15  -6.6 -1.6 4.4 - - 0.57 79.01 10
493 HDFC Children’s Gift  3.8 3.8 8.8 11.5 9 6 2.06 127.38  4.7 4.8 9.7 11 6 1.15 135.78 3387
494 HDFC Hybrid Equity  -1.5 1.3 7.2 10.4 19 11 1.80 53.40  -0.8 2.2 8.2 19 11 1.16 56.17 16198
495 HDFC Retrmnt Svngs Hybrid Eqt  1.9 3.4 - - 11 - 2.54 17.29  3.1 4.8 - 10 - 1.34 18.53 441
496 HSBC Equity Hybrid NR 4.2 - - - - - 2.47 11.60 NR 5.8 - - - - 1.02 11.93 467
497 HSBC Managed Solutions India Growth  2.5 2.1 7.9 - - - 1.83 18.63  2.8 2.4 8.2 - - 1.47 18.98 35
498 ICICI Pru Child Care Gift  -1.2 2.0 6.3 8.1 16 14 2.52 138.07  -0.6 2.9 7.2 18 15 1.76 146.64 618
499 ICICI Pru Equity & Debt  -8.0 -0.6 6.4 10.3 28 13 1.78 125.53  -7.5 0.3 7.5 28 13 1.25 135.68 16099
500 ICICI Pru Retrmnt Hybrid Agrsv NR -1.6 - - - - - 2.62 10.29 NR 0.2 - - - - 0.77 10.62 76
501 IDBI Hybrid Equity  3.5 0.1 - - 25 - 2.56 11.93  4.4 1.6 - 24 - 1.70 12.70 220
502 IDFC Hybrid Equity  0.0 0.4 - - 23 - 2.45 11.67  1.4 1.9 - 23 - 1.17 12.41 519
503 Indiabulls Equity Hybrid NR -1.5 - - - - - 2.36 10.84 NR 0.5 - - - - 0.61 11.27 31
504 Invesco India Equity & Bond NR -1.8 - - - - - 2.46 10.90 NR -0.3 - - - - 0.77 11.28 365
505 JM Equity Hybrid  15.2 1.3 4.5 6.5 20 23 2.14 46.43  16.1 2.1 5.3 21 23 1.52 50.07 7
506 Kotak Equity Hybrid  3.3 4.0 8.0 8.0 8 10 2.21 15.89  4.6 5.3 9.5 8 8 0.92 18.25 1197
507 L&T Hybrid Equity  1.9 1.8 6.9 - 17 12 1.86 27.40  3.0 2.9 8.0 17 12 0.77 29.66 5638
508 LIC MF Equity Hybrid  -2.1 2.3 5.3 5.9 13 19 2.55 105.68  -1.0 3.6 6.5 13 19 1.38 113.83 391
509 LIC MF ULIS  -5.1 2.3 5.3 6.1 14 20 2.30 18.58  -4.4 3.3 6.3 14 20 1.17 19.76 286
510 Mahindra Mnulfe Hybrd Eqt Nivsh Yjn NR 2.5 - - - - - 2.54 11.18 NR 4.3 - - - - 0.74 11.45 132
511 Mirae Asset Hybrid Equity  1.9 4.9 9.5 - 4 3 1.88 15.59  3.4 6.5 11.4 4 1 0.39 17.04 3735
512 Motilal Oswal Equity Hybrid NR 2.3 - - - - - 2.53 11.81 NR 4.1 - - - - 0.64 12.22 344
513 Nippon India Equity Hybrid  -18.1 -6.7 1.8 6.2 31 24 1.99 44.26  -17.5 -5.8 3.0 31 24 1.21 48.06 4643
514 PGIM India Hybrid Eqt  -1.3 1.7 4.4 5.1 18 - 2.31 69.67  0.3 3.3 5.9 16 - 0.75 77.07 102
515 Principal Hybrid Equity  1.7 0.9 8.8 8.8 21 5 2.22 77.40  3.0 2.2 10.0 20 5 1.01 83.89 1067
516 Principal Retrmnt Svngs Prgrsv NR -1.2 0.0 - - 26 - 2.26 13.48 NR 0.0 0.7 - 27 - 1.17 13.96 2
517 Quant Absolute NR 13.0 8.3 10.1 9.4 1 1 2.48 163.01 NR 14.5 9.3 10.8 1 3 2.38 168.45 4
518 SBI Equity Hybrid  -0.7 4.6 8.0 10.1 6 9 1.64 141.59  0.0 5.4 9.1 7 10 1.03 151.42 31226
519 SBI Magnum Children’s Benefit Fund - Inv NR - - - - - - - 10.22 NR - - - - - - 10.24 -
520 Shriram Hybrid Equity  -0.9 3.3 5.9 - 12 16 2.35 17.43  0.6 4.6 6.9 12 16 0.65 18.52 54
521 Sundaram Equity Hybrid  -1.7 4.5 8.1 6.1 7 8 2.18 93.26  -0.7 5.8 9.2 5 9 1.08 99.51 1545
522 Tata Hybrid Equity  -2.6 0.8 4.6 9.4 22 22 1.98 211.20  -1.6 2.1 5.7 22 22 0.96 226.65 3201
523 Tata Retrmnt Svngs Moderate  3.0 3.6 9.8 - 10 2 2.20 32.33  4.6 5.1 11.2 9 2 0.83 35.98 1182
524 UTI Hybrid Equity  -0.2 -1.0 5.2 6.8 30 21 2.02 163.97  0.6 -0.2 5.9 30 21 1.34 171.17 3623
Hybrid: Balanced Hybrid 1.4 2.2 5.6 7.4 8 6 2.1 2.9 6.3 8 6
525 Axis Children’s Gift NR 1.0 5.5 - - 1 - 2.49 14.35 NR 2.4 7.0 - 1 - 1.07 15.45 467
526 Franklin Life Stage FoF 30s NR -12.1 -2.6 3.0 6.5 - - 1.36 53.01 NR -11.5 -2.0 3.6 - - 0.68 55.49 5
527 Franklin Pension NR 3.0 4.2 6.3 8.8 2 1 2.27 135.85 NR 3.8 5.0 7.1 2 1 1.53 143.57 419
S&P BSE Sensex Total Return Index -0.1 7.3 9.6 8.6
VR Balanced Total Return Index 0.5 5.7 8.7 8.1

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

62 Mutual Fund Insight December 2020

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Hybrid REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Hybrid: Balanced Hybrid 1.4 2.2 5.6 7.4 8 6 2.1 2.9 6.3 8 6
528 ICICI Pru Asset Allocator (FOF) NR 3.0 6.5 9.3 9.2 - - 1.32 59.76 NR 4.3 7.4 9.9 - - 0.06 62.57 7964
529 ICICI Pru Passive Strategy (FOF) NR -6.5 1.2 6.2 7.6 6 2 0.36 63.65 NR -6.1 1.5 6.5 7 2 0.05 65.71 74
530 LIC MF Children’s Gift NR -0.8 1.3 4.8 5.1 5 5 2.42 18.12 NR -0.1 2.2 5.8 5 5 1.42 19.47 12
531 Principal Retrmnt Svngs Moderate NR 2.5 2.0 - - 4 - 2.25 13.10 NR 3.3 2.5 - 3 - 1.50 13.52 1
532 Tata Young Citizens NR 2.6 0.4 4.7 7.5 8 6 2.52 26.70 NR 3.4 1.3 5.8 8 6 1.72 28.85 182
533 UTI Children’s Career Svngs NR 4.4 2.2 5.9 8.4 3 3 1.79 23.94 NR 4.7 2.4 6.1 4 3 1.57 24.24 3536
534 UTI Retrmnt Benefit Pension NR 4.8 0.9 5.5 6.8 7 4 1.85 26.47 NR 5.6 1.5 6.1 6 4 1.22 27.69 2868
Hybrid: Conservative Hybrid 4.0 3.8 6.3 7.6 36 33 4.9 4.8 7.3 36 33
535 ABSL Regular Savings  1.6 1.6 6.5 8.6 29 20 2.00 40.81  2.5 2.5 7.5 29 13 1.18 43.70 1169
536 ABSL Retirement 50s NR 7.4 - - - - - 2.29 11.21 NR 9.0 - - - - 0.67 11.48 33
537 Axis Regular Saver  8.3 4.7 5.9 7.3 18 25 2.29 20.95  9.3 5.7 7.2 18 19 1.20 23.06 168
538 Axis Retrmnt Svngs - Cons Plan NR - - - - - - 2.06 10.67 NR - - - - - 0.32 10.83 99
539 Baroda Conservative Hybrid  10.2 8.0 8.1 8.0 2 6 2.06 27.97  11.1 9.0 9.0 2 6 1.22 29.88 26
540 BNP Paribas Cons Hybrid  4.8 5.1 6.8 8.0 15 10 2.18 31.17  6.3 7.0 9.0 8 7 0.76 35.31 282
541 BOI AXA Conservative Hybrid  8.6 -0.3 4.1 6.1 33 30 2.32 20.51  9.3 0.3 4.7 33 30 1.70 21.30 85
542 Canara Robeco Cons Hybrid  10.1 7.4 7.4 8.4 3 7 1.94 65.59  11.2 8.5 8.6 3 8 0.74 71.09 274
543 DSP Regular Savings  5.3 2.5 5.5 7.4 27 28 2.18 38.78  7.0 4.0 6.7 26 27 0.58 41.88 191
544 Essel Regular Savings  2.6 3.9 5.5 7.0 22 27 2.35 20.16  4.1 5.6 7.3 20 17 0.29 22.64 34
545 Franklin Debt Hybrid  3.4 4.4 6.1 8.1 21 23 2.27 59.92  4.3 5.2 7.0 22 24 1.47 63.56 202
546 Franklin Life Stage FoF 40s  -14.9 -2.8 2.4 5.9 35 32 1.41 41.71  -14.4 -2.1 3.2 35 32 0.86 43.92 11
547 Franklin Life Stage FoF 50s Plus  -22.9 -5.6 0.3 4.2 36 33 1.12 28.30  -22.5 -4.9 1.0 36 33 0.52 29.82 10
548 Franklin Life Stage FoF 50s Plus FR  4.3 5.3 6.7 7.8 13 12 0.79 40.60  5.0 5.8 7.2 17 18 0.13 41.99 21
549 HDFC Hybrid Debt  3.6 3.2 6.5 7.9 26 17 1.87 48.77  4.0 3.7 7.1 27 21 1.47 50.70 2331
550 HDFC Retrmnt Svngs Hybrid Debt  6.1 4.6 - - 20 - 2.23 14.46  7.2 5.9 - 15 - 1.16 15.43 88
551 HSBC Managed Solutions Ind Cons  7.0 5.6 6.6 - 9 15 1.63 16.28  7.9 6.1 7.0 13 23 0.88 16.67 54
552 HSBC Regular Savings  6.5 4.9 6.4 7.6 16 21 2.27 40.61  8.4 6.1 7.4 14 15 0.56 43.10 81
553 ICICI Pru Income Optimizer (FOF)  5.6 6.5 6.8 7.5 5 11 1.07 37.92  6.2 7.1 7.3 7 16 0.60 39.51 166
554 ICICI Pru Regular Savings  7.9 7.2 8.9 9.6 4 3 1.91 48.21  8.7 7.9 9.7 4 3 1.13 51.09 2115
555 ICICI Pru Retirement Hybrid Cons NR 8.4 - - - - - 2.04 11.44 NR 10.2 - - - - 0.31 11.78 51
556 ICICI Pru Thematic Advtg (FOF)  2.2 0.9 6.6 7.2 32 16 1.50 71.51  1.9 1.2 6.9 32 25 1.22 72.63 9
557 IDFC Asset Allocation Agrsv  1.8 1.3 5.8 7.5 31 26 1.30 23.60  2.6 2.2 6.5 31 28 0.39 24.63 12
558 IDFC Asset Allocation Cons  5.4 5.4 7.1 8.2 11 8 0.83 23.26  6.1 6.2 7.8 12 11 0.14 24.23 8
559 IDFC Asset Allocation Moderate  3.4 3.7 6.5 8.2 24 18 1.23 23.98  4.1 4.4 7.2 24 20 0.51 24.92 22
560 IDFC Regular Savings  4.8 4.8 6.7 8.2 17 13 2.27 23.60  5.7 5.7 7.6 19 12 1.35 25.27 172
561 Indiabulls Savings Income  1.6 5.6 - - 8 - 2.00 14.16  3.3 7.2 - 6 - 0.25 15.21 13
562 Kotak Asset Allocator  14.5 9.3 10.0 9.1 1 1 1.05 98.03  15.0 10.1 10.8 1 1 0.34 101.84 66
563 Kotak Debt Hybrid  8.4 6.0 8.1 8.6 6 4 2.31 35.47  9.7 7.3 9.5 5 5 1.12 38.53 274
564 L&T Conservative Hybrid  5.0 5.2 6.4 6.9 14 22 2.27 38.30  5.5 5.8 7.1 16 22 1.74 40.37 35
565 LIC MF Debt Hybrid  6.8 5.7 6.5 6.4 7 19 2.25 60.80  7.7 6.7 7.4 10 14 1.27 64.57 79
566 Nippon India Hybrid Bond  -11.3 -2.0 2.5 6.0 34 31 1.91 38.70  -10.7 -1.2 3.3 34 31 1.27 41.30 910
567 Nippon India Retrmnt Incm Generation  6.7 5.4 6.7 - 12 14 2.05 14.30  7.9 6.6 8.1 11 9 0.31 15.43 250
568 Principal Retrmnt Svngs Cons NR 1.6 2.0 - - 28 - 2.25 12.66 NR 2.0 2.5 - 30 - 1.79 12.95 1
569 SBI Debt Hybrid  6.7 4.7 7.0 8.1 19 9 1.81 43.84  7.3 5.4 7.9 21 10 1.20 46.73 959
570 SBI Mgnm Chldrn’s Bnfit - Svngs Pln  3.2 3.9 9.6 10.2 23 2 2.26 59.19  4.0 4.9 10.5 23 2 1.46 63.30 66
571 Sundaram Debt Oriented Hybrid  4.6 1.6 5.2 6.5 30 29 2.18 19.93  5.6 2.7 6.1 28 29 1.35 21.07 30
572 Tata Retrmnt Savings Cons  7.2 5.4 8.1 - 10 5 2.21 22.24  8.4 6.8 9.6 9 4 1.05 24.62 147
573 UTI Regular Savings  3.9 3.4 6.0 7.8 25 24 1.79 42.72  4.6 4.1 6.8 25 26 1.15 44.95 1638
S&P BSE Sensex Total Return Index -0.1 7.3 9.6 8.6
VR Balanced Total Return Index 0.5 5.7 8.7 8.1
VR MIP Total Return Index 4.6 6.5 7.7 7.8

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

Mutual Fund Insight December 2020 63

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For more on funds, visit www.valueresearchonline.com

Hybrid REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Hybrid: Equity Savings 2.6 3.3 5.6 14 10 3.7 4.4 6.6 14 9
574 ABSL Eqt Savings  2.2 2.9 6.4 - 10 6 2.54 14.26  3.3 4.0 7.6 11 5 1.55 15.20 492
575 Axis Equity Saver  2.2 5.7 6.5 - 3 5 2.33 13.73  3.4 7.0 7.7 2 4 0.92 14.61 676
576 Baroda Equity Savings NR 8.9 - - - - - 2.47 11.23 NR 10.1 - - - - 1.45 11.38 388
577 DSP Equity Savings  1.7 2.9 - - 11 - 2.40 13.25  3.2 4.5 - 10 - 0.86 14.15 406
578 Edelweiss Equity Savings  6.5 6.3 7.2 - 1 1 1.74 15.37  7.6 7.3 8.1 1 1 0.74 16.07 75
579 Franklin Eqt Savings NR 0.2 - - - - - 2.08 10.35 NR 1.9 - - - - 0.85 10.75 133
580 HDFC Equity Savings  -0.8 2.2 7.1 7.6 13 - 2.07 36.99  -0.1 3.4 8.4 12 - 1.30 39.70 2801
581 ICICI Pru Equity Savings  -0.4 4.1 6.7 - 7 3 1.50 14.39  0.2 4.8 - 9 - 0.85 13.41 1105
582 IDBI Eqt Savings NR 1.6 2.9 3.9 - - - 2.14 17.39 NR 2.6 4.4 5.1 - - 1.18 18.74 11
583 IDFC Equity Savings NR 5.1 4.3 5.0 6.5 - - 2.48 21.38 NR 6.2 5.4 5.9 - - 1.53 22.64 50
584 Invesco India Equity Savings NR 4.0 - - - - - 2.42 10.94 NR 5.8 - - - - 0.68 11.27 130
585 Kotak Equity Savings  5.0 5.8 7.2 - 2 2 2.20 15.50  6.0 6.7 8.1 3 2 1.24 16.21 1351
586 L&T Equity Savings  2.9 2.5 4.7 - 12 9 1.60 18.20  3.8 3.3 5.6 13 8 0.69 19.37 76
587 Mahindra Mnlfe EqtSvgs Dhn Schy Yjn  4.3 3.2 - - 9 - 2.45 12.14  5.9 5.1 - 8 - 0.86 13.06 197
588 Mirae Asset Equity Savings NR 7.4 - - - - - 1.45 11.68 NR 8.5 - - - - 0.44 11.93 111
589 Nippon India Eqt Svngs Fund  -13.2 -6.4 0.0 - 14 10 2.59 10.20  -12.5 -5.6 1.0 14 9 1.76 10.78 400
590 PGIM India Equity Savings  -0.2 4.2 5.7 7.4 6 7 2.28 33.05  1.0 5.4 6.8 6 6 1.17 35.85 36
591 Principal Equity Savings  6.2 4.3 6.2 6.2 4 - 2.56 38.99  7.4 5.6 7.3 4 - 1.16 41.95 44
592 SBI Equity Savings  3.6 4.2 6.5 - 5 4 1.75 13.98  4.2 5.4 7.9 5 3 1.03 15.02 1313
593 Sundaram Equity Savings NR 2.1 - - - - - 2.48 10.89 NR 3.8 - - - - 0.91 11.26 94
594 Tata Equity Savings  3.3 4.1 5.3 6.5 8 8 2.29 34.81  4.4 5.2 6.5 7 7 1.18 37.63 92
595 Union Equity Savings NR 5.1 - - - - - 2.04 11.46 NR 5.6 - - - - 1.42 11.62 173
596 UTI Equity Savings NR 2.4 - - - - - 1.53 10.56 NR 3.2 - - - - 0.65 10.78 182
Hybrid: Arbitrage 3.9 5.3 5.7 7.1 17 15 4.6 5.9 6.4 17 15
597 ABSL Arbitrage  4.3 5.6 5.8 6.9 8 7 0.93 20.53  4.9 6.2 6.4 10 8 0.32 21.43 3839
598 Axis Arbitrage  4.3 5.6 5.7 - 11 8 1.06 14.47  5.0 6.3 6.6 5 3 0.31 15.21 2622
599 BNP Paribas Arbitrage  4.7 5.8 - - 4 - 0.99 12.49  5.4 6.4 - 3 - 0.36 12.78 572
600 BOI AXA Arbitrage NR 3.4 - - - - - 1.00 11.16 NR 4.2 - - - - 0.21 11.35 35
601 DSP Arbitrage NR 4.2 - - - - - 0.93 11.62 NR 4.9 - - - - 0.37 11.82 995
602 Edelweiss Arbitrage  4.7 5.8 6.0 - 3 1 1.10 14.93  5.4 6.5 6.7 2 1 0.40 15.50 3316
603 Essel Arbitrage NR 0.4 - - - - - 1.90 10.66 NR 0.9 - - - - 1.06 10.79 0
604 HDFC Arbitrage  3.9 5.2 5.6 6.9 14 14 0.96 23.68 NR 4.5 5.8 6.1 14 14 0.41 15.20 5298
605 ICICI Pru Equity Arbitrage  4.4 5.7 5.9 7.4 7 6 0.98 26.46  5.0 6.3 6.5 9 5 0.45 27.64 9277
606 IDFC Arbitrage  4.0 5.6 5.7 7.1 9 9 1.08 25.17  4.8 6.3 6.4 6 7 0.32 26.36 7164
607 Indiabulls Arbitrage  3.4 5.1 5.6 - 15 11 1.12 14.14  4.1 5.7 6.3 15 11 0.42 14.64 18
608 Invesco India Arbitrage  4.4 5.6 5.7 7.0 10 10 1.03 24.44  5.1 6.2 6.4 11 10 0.32 25.62 470
609 ITI Arbitrage NR 3.3 - - - - - 1.00 10.43 NR 4.1 - - - - 0.25 10.52 15
610 JM Arbitrage  2.9 4.6 5.2 6.8 16 15 0.96 25.84  3.3 5.0 5.6 16 15 0.70 26.78 107
611 Kotak Equity Arbitrage  4.5 5.7 5.9 7.3 5 3 1.01 28.66  5.1 6.3 6.5 7 6 0.45 29.79 15111
612 L&T Arbitrage Opportunities  5.0 5.8 5.9 - 2 4 0.94 14.78  5.5 6.4 6.5 4 4 0.44 15.33 1417
613 LIC MF Arbitrage NR 3.8 - - - - - 0.99 10.86 NR 4.4 - - - - 0.44 10.99 41
614 Mahindra Manulife Arbitrage Yojana NR - - - - - - 1.19 10.06 NR - - - - - 0.34 10.08 98
615 Mirae Asset Arbtg Fund NR - - - - - - 1.08 10.13 NR - - - - - 0.41 10.15 232
616 Nippon India Arbitrage  4.5 5.9 5.9 7.4 1 2 1.02 20.56  5.2 6.6 6.6 1 2 0.35 21.49 7168
617 PGIM India Arbitrage  4.1 5.2 5.6 - 13 12 1.02 14.42  4.7 5.8 6.2 13 12 0.40 14.92 80
618 Principal Arbitrage  2.4 2.0 - - 17 - 0.88 11.49  2.8 2.5 - 17 - 0.45 11.79 8
619 SBI Arbitrage Opportunities  3.7 5.5 5.6 7.1 12 13 0.90 25.90  4.1 6.0 6.1 12 13 0.45 26.91 3475
620 Sundaram Arbtg NR - - - - - - 0.93 10.29 NR - - - - - 0.25 10.34 67
CCIL T Bill Liquidity Weight 3.3 4.0 4.1 4.8
S&P BSE Sensex Total Return Index -0.1 7.3 9.6 8.6
VR MIP Total Return Index 4.6 6.5 7.7 7.8

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

64 Mutual Fund Insight December 2020

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Hybrid REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5Y 3 Y 5 Y Expense NAV (` cr)
Hybrid: Arbitrage 3.9 5.3 5.7 7.1 17 15 4.6 5.9 6.4 17 15
621 Tata Arbitrage NR 5.1 - - - - - 1.13 11.12 NR 6.0 - - - - 0.38 11.28 2093
622 Union Arbitrage NR 4.7 - - - - - 0.99 10.94 NR 5.2 - - - - 0.40 11.04 89
623 UTI Arbitrage  4.5 5.7 5.9 7.0 6 5 0.94 27.02  5.1 6.3 6.4 8 9 0.42 28.03 3105
Hybrid: Dynamic Asset Allocation 4.8 4.3 6.7 8.8 12 9 6.1 5.5 7.9 12 9
624 ABSL Asset Allocator MMFoF  9.9 5.1 8.6 6.7 - - 1.29 32.32  10.2 5.4 8.9 - - 0.64 16.32 7
625 ABSL Balanced Advantage  2.3 3.7 8.5 7.7 8 1 2.10 56.27  3.4 4.8 9.6 9 1 1.01 60.40 2351
626 Axis Dynamic Equity  2.3 4.2 - - 7 - 2.14 11.57  3.5 5.8 - 7 - 0.80 12.14 1419
627 Baroda Dynamic Equity NR 14.8 - - - - - 2.44 12.70 NR 16.3 - - - - 1.25 13.07 672
628 BNP Paribas Dynamic Eqt NR 5.5 - - - - - 2.35 11.54 NR 7.5 - - - - 0.53 11.90 111
629 BOI AXA Eqt Debt Rebalancer  3.7 -0.2 3.2 - 12 9 2.28 14.73  4.3 0.4 3.8 12 9 1.68 15.27 89
630 DSP Dynamic Asset Allocation  5.8 5.8 7.5 - 4 4 2.14 16.97  7.5 7.4 8.9 4 4 0.48 18.32 1633
631 Edelweiss Balanced Advtg  9.5 7.0 7.8 8.8 1 3 2.11 26.90  11.1 8.4 9.0 1 3 0.69 28.79 1585
632 Franklin Dynamic Asset Alloc FoF  -16.2 -2.3 2.6 6.0 - - 1.56 71.67  -15.4 -1.3 3.7 - - 0.53 77.44 727
633 HDFC Balanced Advantage NR -11.0 -2.3 5.2 8.0 - - 1.83 178.05 NR -10.4 -1.5 6.1 - - 1.08 186.90 34659
634 ICICI Pru Balanced Advantage  2.5 5.3 7.9 10.5 5 2 1.73 38.41  3.1 6.2 9.1 5 2 1.17 41.60 26175
635 IDFC Dynamic Equity  7.5 6.1 7.1 - 3 5 2.34 14.93  8.8 7.6 8.6 3 5 0.95 16.18 1018
636 Invesco India Dynamic Equity  0.3 1.9 6.9 8.3 11 6 2.42 30.16  1.5 3.1 8.4 11 6 1.02 33.56 705
637 ITI Balanced Advtg NR - - - - - - 2.53 8.55 NR - - - - - 0.43 8.70 195
638 Kotak Balanced Advantage NR 7.0 - - - - - 2.06 11.85 NR 8.2 - - - - 0.70 12.15 4528
639 L&T Balanced Advantage  8.3 6.7 6.1 - 2 - 2.40 27.13  9.7 8.0 7.4 2 - 1.14 29.50 764
640 Motilal Oswal Dynamic  3.0 4.7 - - 6 - 2.22 13.49  4.4 5.9 - 6 - 0.82 14.13 1139
641 Nippon India Balanced Advantage NR 1.6 3.3 7.4 8.2 - - 2.05 94.01 NR 3.1 4.5 8.5 - - 0.67 100.19 2812
642 Principal Balanced Advantage  5.3 3.5 5.4 - 9 8 2.45 21.75  6.8 5.0 6.8 8 7 1.06 23.76 143
643 SBI Dynamic Asset Allocation  -0.6 4.0 6.6 - - - 2.04 13.56  0.5 5.3 7.5 - - 0.99 14.21 575
644 Shriram Balanced Advantage NR 4.9 - - - - - 2.60 10.88 NR 7.0 - - - - 0.60 11.17 40
645 Sundaram Balanced Advtg NR - - - - - - 2.49 11.56 NR - - - - - 0.53 11.71 630
646 Tata Balanced Advantage NR 6.6 - - - - - 2.25 11.40 NR 8.4 - - - - 0.82 11.77 1123
647 Union Balanced Advantage NR 10.6 - - - - - 2.57 12.33 NR 11.2 - - - - 1.80 12.56 500
648 UTI Unit Linked Insurance  6.1 3.1 6.0 7.4 10 7 1.78 26.43  6.9 3.8 6.7 10 8 1.04 27.63 4496
Hybrid: Multi Asset Allocation 5.4 4.7 7.0 7.1 5 5 6.2 5.6 7.9 5 5
649 ABSL Fin Planning FOF Agrsv  6.5 3.7 8.2 - - - 1.04 24.46  7.4 4.6 9.0 - - 0.12 25.82 127
650 ABSL Fin Planning FOF Cons  8.5 5.6 6.9 - - - 0.82 20.33  9.0 6.1 7.4 - - 0.36 21.15 10
651 ABSL Fin Planning FOF Moderate Plan  7.8 4.9 7.4 - - - 1.00 21.98  8.3 5.5 7.9 - - 0.47 22.85 20
652 Axis Retrmnt Svngs - Dynamic Plan NR - - - - - - 2.35 10.11 NR - - - - - 0.53 10.27 235
653 Axis Triple Advantage  3.6 6.9 7.8 7.9 1 2 2.33 22.05  5.0 8.1 9.1 1 1 0.79 24.04 447
654 Essel 3 in 1  2.1 4.1 5.3 - 3 5 2.24 18.98  3.4 5.3 6.7 3 4 0.34 20.84 15
655 Franklin Multi Asset Solution  -19.1 -4.3 0.5 - - - 1.56 10.55  -18.6 -3.5 1.7 - - 1.01 11.38 19
656 HDFC Dynamic PE Ratio FOF  4.4 2.9 7.7 - 5 3 1.00 19.76  5.2 3.7 8.7 5 2 0.20 21.06 17
657 HDFC Multi Asset NR 8.0 5.1 7.1 8.4 - - 2.47 35.65 NR 9.0 5.9 7.8 - - 1.57 37.46 315
658 HSBC Managed Solutions Ind Moderate  4.1 3.0 7.8 - - - 1.91 18.09  4.7 3.4 8.2 - - 1.33 18.48 71
659 ICICI Pru Multi Asset NR -5.5 0.1 7.0 8.9 - - 1.79 256.04 NR -4.9 1.0 7.9 - - 1.14 272.81 10161
660 Motilal Oswal Multi Asset Fund NR - - - - - - 2.05 10.08 NR - - - - - 0.55 10.12 176
661 Nippon India Multi Asset Fund NR - - - - - - 2.15 9.82 NR - - - - - 0.60 9.85 803
662 Quant Multi Asset NR 17.4 11.1 9.7 8.5 - - 2.48 47.70 NR 17.6 11.0 9.7 - - 2.38 47.63 10
663 Quantum Multi Asset FOFs  8.0 6.7 8.3 - 2 1 0.47 20.58  8.3 6.9 8.4 2 3 0.10 20.70 23
664 SBI Multi Asset Allocation NR 5.6 6.4 7.6 8.8 - - 1.91 30.50 NR 6.3 7.3 8.6 - - 1.21 32.44 262
665 Tata Multi Asset Opp Fund NR - - - - - - 2.49 11.09 NR - - - - - 0.90 11.23 423
666 UTI Multi Asset  5.5 3.2 5.8 6.2 4 4 2.60 36.51  6.3 4.1 6.7 4 5 1.74 38.77 663
CCIL T Bill Liquidity Weight 3.3 4.0 4.1 4.8
S&P BSE Sensex Total Return Index -0.1 7.3 9.6 8.6
VR Balanced Total Return Index 0.5 5.7 8.7 8.1

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

Mutual Fund Insight December 2020 65

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Debt REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Long Duration 2.4 0.9 11.8 9.3 2 1 2.2 0.7 12.3 10.0 2 1
667 Bhrt Bond ETF - April 2030 NR 2.7 1.5 - - - - 0.01 1124.06 NR - - - - - - - - 10210
668 Bhrt Bond ETF - April 2031 NR 2.7 1.3 - - - - - 1011.59 NR - - - - - - - - 7110
669 Bhrt Bond FOF - April 2030 NR 2.7 1.5 - - - - 0.05 11.23 NR 2.7 1.5 - - - - 0.05 11.23 1436
670 Bhrt Bond FOF - April 2031 NR 2.7 1.3 - - - - 0.05 10.12 NR 2.7 1.3 - - - - 0.05 10.12 896
671 ICICI Pru Long Term Bond NR 1.8 0.9 11.5 9.3 2 1 1.99 71.35 NR 1.9 1.1 12.1 10.0 2 1 1.39 76.08 1073
672 Nippon India Nivesh Lakshya NR 1.5 -1.1 12.1 - 1 - 0.55 13.63 NR 1.6 -1.1 12.5 - 1 - 0.22 13.73 1566
Debt: Medium to Long Duration 1.6 1.2 9.9 6.9 14 14 1.7 1.4 10.7 7.7 14 14
673 ABSL Income  2.4 1.5 12.3 8.4 2 5 0.89 97.15  2.5 1.6 12.9 9.2 3 4 0.42 102.68 1465
674 Canara Robeco Income  1.8 1.0 9.9 8.0 8 6 1.88 45.17  1.9 1.3 11.1 9.1 8 6 0.75 48.04 141
675 HDFC Income  1.5 1.2 9.1 6.3 11 12 2.24 46.34  1.5 1.4 9.7 6.8 10 12 1.71 48.99 676
676 HSBC Debt  1.7 1.0 8.6 7.4 13 9 2.07 34.49  1.8 1.3 9.5 8.2 13 10 1.23 36.68 36
677 ICICI Pru Bond  1.8 1.7 11.8 8.5 4 4 1.13 30.72  1.8 1.8 12.4 9.1 4 5 0.56 31.78 4124
678 ICICI Pru Debt Management (FOF)  1.0 1.8 9.3 7.8 10 8 0.84 33.61  1.0 1.9 9.6 8.4 12 9 0.49 34.72 166
679 IDFC Bond Income  1.8 1.0 11.1 8.6 6 3 1.97 53.22  1.9 1.1 11.8 9.3 6 3 1.35 56.46 681
680 JM Income  1.2 0.8 9.6 2.0 9 13 1.16 49.99  1.3 1.0 10.7 3.0 9 13 0.40 54.05 35
681 Kotak Bond  1.6 1.0 11.2 8.0 5 7 1.87 60.12  1.7 1.3 12.4 9.0 5 7 0.80 64.23 1585
682 LIC MF Bond  1.3 0.1 8.9 7.2 12 11 1.08 56.76  1.3 0.4 9.6 7.9 11 11 0.18 59.31 181
683 Nippon India Income  1.8 1.0 10.4 8.6 7 2 1.76 70.78  1.9 1.3 11.3 9.5 7 2 0.72 75.55 425
684 SBI Magnum Income  1.8 2.1 13.1 8.8 1 1 1.47 54.21  1.8 2.3 13.8 9.6 1 1 0.85 56.70 1519
685 Tata Income  2.1 1.6 12.1 7.3 3 10 1.94 64.90  2.1 1.8 13.0 8.4 2 8 1.09 69.33 51
686 UTI Bond  1.3 0.7 1.3 -1.0 14 14 1.58 50.41  1.3 0.8 1.9 -0.2 14 14 1.02 53.98 305
Debt: Medium Duration 1.4 1.6 6.0 5.9 16 14 1.4 1.8 6.8 6.6 16 14
687 ABSL Medium Term  -1.7 0.4 -1.7 1.7 15 13 1.05 22.67  -1.7 0.6 -0.9 2.5 15 13 0.05 23.88 2003
688 Axis Strategic Bond  1.5 2.3 10.3 7.7 4 6 1.06 20.70  1.6 2.5 11.1 8.4 5 6 0.35 22.04 887
689 Bhrt Bond ETF - April 2023 NR 1.1 1.5 - - - - 0.01 1095.84 NR - - - - - - - - 4531
690 Bhrt Bond ETF - April 2025 NR 2.0 1.1 - - - - - 1011.85 NR - - - - - - - - 5797
691 Bhrt Bond FOF - April 2023 NR 1.1 1.5 - - - - 0.05 10.94 NR 1.1 1.5 - - - - 0.05 10.94 882
692 Bhrt Bond FOF - April 2025 NR 1.9 1.0 - - - - 0.05 10.11 NR 1.9 1.0 - - - - 0.05 10.11 630
693 BNP Paribas Medium Term  1.5 0.9 7.2 2.7 12 12 1.02 14.80  1.5 1.0 7.8 3.4 12 12 0.58 15.55 42
694 DSP Bond  1.4 1.2 9.5 5.1 8 10 0.72 62.84  1.4 1.3 9.9 5.5 8 10 0.40 65.62 336
695 HDFC Medium Term Debt  1.8 2.7 9.8 7.7 7 4 1.29 42.59  1.8 2.9 10.6 8.6 7 4 0.49 44.71 1302
696 ICICI Pru Medium Term Bond  1.4 2.6 10.9 7.7 3 5 1.62 33.19  1.5 2.8 11.5 8.5 4 5 0.97 35.32 5192
697 ICICI Pru Retrmnt Pure Debt  1.5 1.5 10.3 - 5 - 2.11 11.90  1.6 1.9 12.2 - 3 - 0.38 12.27 457
698 IDFC Bond Medium Term  1.4 1.1 10.0 8.2 6 3 1.44 36.44  1.5 1.3 10.7 8.9 6 3 0.76 38.42 3786
699 Indiabulls Income  1.6 1.2 8.4 8.4 10 2 0.90 17.63  1.7 1.3 9.0 9.0 11 2 0.40 18.75 26
700 Kotak Medium Term  2.0 2.8 8.2 6.5 11 7 1.68 17.12  2.1 3.0 9.2 7.4 10 7 0.74 18.16 1737
701 L&T Resurgent India Bond  1.6 2.7 8.7 6.3 9 8 1.51 15.36  1.7 2.9 9.7 7.2 9 8 0.60 16.15 742
702 Nippon India Strategic Debt  1.4 0.0 -25.5 -8.8 16 - 2.05 10.49  1.4 0.2 -25.0 -8.0 16 - 1.50 11.08 318
703 SBI Magnum Medium Duration  2.0 2.8 12.6 9.4 1 1 1.24 38.84  2.0 2.9 13.1 10.0 1 1 0.73 40.95 4437
704 Sundaram Medium Term Bond  1.1 0.8 6.5 6.1 13 9 2.18 57.62  1.2 1.0 7.4 7.1 13 9 1.33 61.62 74
705 Tata Medium Term  1.5 1.8 11.5 1.5 2 14 1.39 27.84  1.6 2.1 12.5 2.4 2 14 0.39 30.07 61
706 Union Medium Duration Fund NR 1.2 - - - - - 1.11 10.14 NR 1.3 - - - - - 0.54 10.15 412
707 UTI Medium Term  1.2 1.7 -0.4 3.5 14 11 1.64 13.93  1.2 1.8 0.1 4.2 14 11 1.11 14.49 93
Debt: Short Duration 1.1 1.4 8.7 6.3 26 23 1.1 1.6 9.4 7.1 26 23
708 ABSL Short Term  1.3 2.6 10.3 8.3 3 5 1.14 36.06  1.4 2.8 11.1 9.0 3 5 0.42 37.82 5546
709 Axis Short Term  1.2 1.6 10.1 8.5 6 3 1.01 23.61  1.2 1.8 10.9 9.2 5 1 0.30 25.03 8115
710 Baroda Short Term Bond  0.8 1.5 7.8 7.8 22 10 1.35 22.55  0.8 1.7 8.5 8.5 22 11 0.62 23.70 481
711 BNP Paribas Short term  1.4 1.8 10.1 7.6 7 14 1.05 24.23  1.5 2.0 10.9 8.5 4 12 0.35 25.41 261
CCIL T Bill Liquidity Weight 0.2 0.6 3.3 4.0
VR Bond Index 0.9 0.6 7.3 6.9

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

66 Mutual Fund Insight December 2020

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Debt REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Short Duration 1.1 1.4 8.7 6.3 26 23 1.1 1.6 9.4 7.1 26 23
712 BOI AXA ST Income  0.8 1.5 -0.5 -3.2 26 23 1.10 16.88  0.9 1.6 0.1 -2.7 26 23 0.55 17.96 33
713 Canara Robeco Short Duration  1.1 1.2 8.8 7.4 19 - 1.02 20.05  1.1 1.3 9.5 8.2 19 - 0.37 21.26 868
714 DSP Short-term  1.1 1.3 9.0 7.7 18 13 0.90 36.30  1.2 1.5 9.7 8.4 18 14 0.30 38.31 3388
715 HDFC Short Term Debt  1.3 1.8 10.8 8.9 1 1 0.76 24.23  1.3 1.9 11.2 9.1 2 4 0.24 24.55 13569
716 HSBC Short Duration  0.9 0.9 5.1 3.2 25 21 1.29 30.70  0.9 1.1 6.1 4.2 25 21 0.29 32.96 270
717 ICICI Pru Short Term  1.3 1.7 10.5 8.3 2 6 1.16 45.16  1.4 1.9 11.4 9.2 1 3 0.40 47.72 18946
718 IDBI Short Term Bond  0.9 1.7 9.9 5.1 8 17 1.30 19.68  0.9 1.8 10.6 6.0 9 17 0.84 21.03 20
719 IDFC All Seasons Bond  1.0 1.4 10.2 8.6 5 2 0.55 33.84  1.0 1.4 10.6 9.0 10 6 0.17 34.98 143
720 IDFC Bond Short Term  0.9 1.3 9.5 8.3 13 4 0.80 44.15  0.9 1.5 10.0 8.9 14 7 0.28 46.22 13334
721 Indiabulls Short Term  1.3 1.1 5.7 6.0 24 15 1.43 1677.12  1.4 1.4 6.9 7.2 24 15 0.13 1822.47 23
722 Invesco India Short Term  1.2 0.9 9.0 7.7 17 11 1.25 2799.99  1.3 1.1 10.0 8.6 15 10 0.40 2991.63 927
723 Kotak Bond Short-term  1.3 1.6 9.8 8.3 9 7 1.14 40.49  1.4 1.8 10.7 9.2 7 2 0.34 42.95 14379
724 L&T Short Term Bond  1.1 1.2 9.3 8.2 14 8 0.75 20.63  1.1 1.3 9.9 8.7 17 8 0.25 21.39 4374
725 LIC MF Short Term Debt  0.9 1.0 7.9 - 21 - 1.44 11.62  1.0 1.3 9.1 - 21 - 0.39 11.84 345
726 Mirae Asset Short Term  0.9 1.0 8.3 - 20 - 1.14 12.26  1.0 1.2 9.2 - 20 - 0.32 12.51 596
727 Nippon India Short-term  1.2 1.7 9.2 7.7 16 12 1.24 40.11  1.3 1.9 10.1 8.5 13 13 0.34 42.19 8637
728 PGIM India Short Maturity  0.9 1.3 6.7 4.0 23 19 1.44 35.08  0.9 1.5 7.6 4.9 23 19 0.76 37.47 34
729 Principal Short Term Debt  1.1 1.1 9.8 4.4 10 18 1.04 34.07  1.2 1.2 10.2 5.0 11 18 0.61 35.97 161
730 SBI Short Term Debt  1.3 1.4 9.5 8.1 12 9 0.84 24.84  1.4 1.5 10.1 8.7 12 9 0.34 25.78 16743
731 Sundaram Short Term Debt  0.8 1.2 9.2 3.1 15 22 1.01 32.01  0.9 1.3 9.9 3.9 16 22 0.28 34.12 129
732 Tata Short-term Bond  1.2 1.2 9.6 5.8 11 16 1.23 37.62  1.2 1.5 10.7 6.7 8 16 0.28 39.99 3183
733 UTI Short-term Income  1.1 1.5 10.3 3.7 4 20 0.95 23.17  1.2 1.6 10.7 4.2 6 20 0.43 24.02 2064
Debt: Low Duration 0.6 1.3 6.3 5.1 25 25 0.6 1.4 6.8 5.6 25 25
734 ABSL Low Duration  0.7 1.5 7.7 7.6 5 5 1.22 508.39  0.8 1.7 8.6 8.5 3 2 0.40 542.40 13927
735 Axis Treasury Advantage  0.6 1.3 7.5 7.8 8 2 0.61 2364.27  0.7 1.4 7.9 8.3 8 3 0.30 2441.39 8146
736 Baroda Treasury Advantage  0.8 2.0 -15.4 -9.1 25 25 0.90 1487.82  0.8 2.1 -15.2 -8.8 25 25 0.69 1524.41 38
737 BNP Paribas Low Duration  0.7 1.2 7.4 7.1 10 12 1.00 31.29  0.8 1.4 8.3 8.0 6 7 0.21 33.07 304
738 Canara Robeco Savings  0.5 1.0 6.6 7.2 18 10 0.60 32.66  0.5 1.0 6.8 7.4 20 13 0.30 33.14 1218
739 DSP Low Duration  0.6 1.2 6.9 7.6 16 6 0.55 15.30  0.6 1.2 7.2 7.9 17 10 0.30 15.58 3191
740 Edelweiss Low Duration  0.4 1.5 -3.0 -0.6 24 24 1.00 1988.33  0.5 1.7 -2.3 0.2 24 24 0.20 2054.59 24
741 HDFC Low Duration  0.7 1.6 7.9 7.3 4 9 1.04 44.22  0.8 1.8 8.5 8.0 4 6 0.44 46.63 16796
742 HSBC Low Duration  0.6 1.2 3.4 2.4 22 21 1.02 15.99  0.6 1.4 4.2 3.2 22 21 0.20 16.94 134
743 ICICI Pru Savings  0.7 1.5 8.2 8.0 2 1 0.55 408.78  0.7 1.6 8.4 8.1 5 4 0.44 412.22 19922
744 IDFC Low Duration  0.5 1.1 7.1 7.5 14 8 0.51 29.80  0.5 1.1 7.3 7.7 16 11 0.27 30.18 6381
745 Invesco India Treasury Advtg  0.6 1.2 7.3 7.7 11 4 0.65 2922.25  0.6 1.3 7.7 8.0 12 5 0.32 3003.23 2278
746 JM Low Duration  0.5 1.0 27.0 6.1 1 16 0.46 28.84  0.5 1.0 27.1 6.2 1 17 0.42 29.08 130
747 Kotak Low Duration  0.7 1.6 8.2 7.8 3 3 1.12 2593.17  0.8 1.8 9.0 8.6 2 1 0.36 2728.00 8418
748 L&T Low Duration  0.7 1.4 7.2 6.1 12 15 0.95 21.84  0.7 1.6 7.8 6.7 9 15 0.30 22.48 537
749 LIC MF Savings  0.5 1.0 7.2 5.9 13 17 0.83 30.76  0.6 1.1 7.8 6.5 11 16 0.28 32.42 986
750 Mahindra Manulife Low Duration  0.6 1.2 6.6 7.0 17 13 1.16 1279.35  0.6 1.4 7.5 7.9 15 8 0.34 1322.35 483
751 Mirae Asset Savings  0.5 1.2 6.3 6.3 20 14 0.88 1759.41  0.6 1.3 6.9 7.0 19 14 0.26 1860.65 810
752 Nippon India Low Duration  0.6 1.5 7.5 7.2 9 11 1.04 2871.14  0.7 1.7 8.2 7.6 7 12 0.35 2957.35 5283
753 PGIM India Low Duration  0.5 1.3 2.6 -0.2 23 23 1.19 22.96  0.6 1.5 3.3 0.5 23 22 0.50 24.08 60
754 Principal Low Duration  0.5 0.9 5.3 0.0 21 22 0.56 2693.21  0.5 1.0 5.6 0.3 21 23 0.23 2803.09 98
755 SBI Magnum Low Duration  0.6 1.1 6.9 7.5 15 7 1.10 2714.81  0.7 1.3 7.6 7.9 14 9 0.40 2753.64 9746
756 Sundaram Low Duration  0.5 0.9 6.4 3.5 19 19 0.83 25.65  0.5 1.1 6.9 4.1 18 19 0.33 26.70 424
757 Tata Treasury Advantage  0.7 1.4 7.6 5.7 6 18 0.53 3029.81  0.7 1.5 7.8 5.9 10 18 0.35 3070.62 1560
758 UTI Treasury Advantage  0.6 1.2 7.5 3.4 7 20 0.43 2576.94  0.6 1.2 7.6 3.5 13 20 0.36 2605.11 2753
CCIL T Bill Liquidity Weight 0.2 0.6 3.3 4.0

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

Mutual Fund Insight December 2020 67

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Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Ultra Short Duration 0.4 1.0 5.5 6.0 25 15 0.4 1.1 6.0 6.5 25 15
759 ABSL Savings  0.5 1.4 7.3 7.7 1 2 0.48 415.89  0.6 1.4 7.4 7.8 2 2 0.34 419.68 14532
760 Axis Ultra Short Term  0.4 1.1 5.6 - 10 - 1.19 11.54  0.5 1.3 6.5 - 7 - 0.30 11.76 3871
761 Baroda Ultra Short Duration  0.4 1.0 5.4 - 13 - 0.43 1178.64  0.4 1.0 5.6 - 19 - 0.25 1183.94 240
762 BOI AXA Ultra Short Duration  0.4 0.9 5.3 6.9 16 6 0.58 2489.96  0.4 1.0 5.5 7.1 20 7 0.33 2535.03 309
763 Canara Robeco Ultra ST  0.3 0.7 4.9 5.9 20 9 0.95 3013.53  0.3 0.9 5.5 6.5 21 11 0.37 3123.97 287
764 DSP Ultra Short  0.4 0.9 5.1 5.8 19 10 1.00 2674.19  0.4 1.0 5.8 6.6 18 9 0.30 2812.09 2621
765 Essel Ultra Short Term  0.2 0.6 4.1 5.7 24 11 1.60 2178.16  0.3 0.8 4.9 6.5 23 10 0.69 2286.33 20
766 HDFC Ultra Short Term  0.5 1.2 6.6 - 3 - 0.64 11.67  0.5 1.3 7.0 - 3 - 0.34 11.75 11967
767 HSBC Ultra SD NR 0.4 1.0 - - - - 0.48 1043.17 NR 0.4 1.1 - - - - 0.22 1045.18 451
768 ICICI Pru Ultra Short Term  0.6 1.5 7.0 7.4 2 - 0.97 21.20  0.6 1.7 7.7 8.1 1 - 0.39 22.43 7413
769 IDBI Ultra Short Term  0.4 1.1 5.4 6.2 15 8 0.66 2131.61  0.4 1.2 5.8 6.8 17 8 0.26 2227.21 251
770 IDFC Ultra Short Term  0.4 0.9 6.0 - 8 - 0.42 11.76  0.4 1.0 6.2 - 9 - 0.26 11.81 4680
771 Indiabulls Ultra Short Term  0.3 0.7 5.5 6.7 11 7 0.66 1997.33  0.3 0.9 6.1 7.2 13 6 0.11 2071.73 22
772 Invesco India Ultra Short Term  0.4 0.8 5.4 6.7 14 - 0.89 2103.78  0.4 1.0 6.1 7.3 12 - 0.24 2189.11 589
773 Kotak Savings  0.4 1.0 6.2 7.1 6 4 0.77 33.28  0.5 1.1 6.6 7.5 5 4 0.33 34.15 11072
774 L&T Ultra Short Term  0.4 0.9 5.8 6.9 9 5 0.39 33.77  0.4 0.9 6.1 7.3 10 5 0.23 34.60 2315
775 LIC MF Ultra ST NR 0.3 0.9 - - - - 0.41 1042.18 NR 0.3 0.9 - - - - 0.21 1044.74 71
776 Mahindra Manulife Ultra ST NR 0.4 1.0 6.4 - 4 - 0.76 1066.76 NR 0.5 1.1 6.8 - 4 - 0.34 1071.44 165
777 Mirae Asset Ultra SD Fund NR - - - - - - - 1002.59 NR - - - - - - - 1002.81 -
778 Motilal Oswal Ultra Short Term  0.3 0.8 4.6 0.7 22 15 0.08 13.39  0.3 0.8 4.6 0.8 24 15 0.08 13.77 36
779 Nippon India Ultra Short Duration  0.6 2.1 5.1 4.3 18 13 1.10 2983.28  0.7 2.3 5.9 5.2 14 13 0.33 3171.94 577
780 PGIM India Ultra ST  0.4 1.0 6.1 9.2 7 1 0.75 26.69  0.5 1.1 6.6 9.4 6 1 0.30 27.15 162
781 Principal Ultra Short Term  0.3 0.7 4.4 4.0 23 14 1.05 2153.06  0.4 0.9 5.2 4.9 22 14 0.25 2228.56 151
782 SBI Magnum Ultra Short Duration  0.4 1.1 6.3 7.4 5 3 0.49 4612.84  0.5 1.1 6.4 7.6 8 3 0.31 4649.90 10122
783 Sundaram Ultra Short Term NR 0.3 0.8 4.8 - 21 - 1.41 10.74 NR 0.4 1.1 5.9 - 16 - 0.21 10.90 563
784 Tata Ultra Short Term  0.4 0.9 5.2 - 17 - 1.00 11.13  0.4 1.1 5.9 - 15 - 0.48 11.26 211
785 UTI Ultra Short Term  0.5 1.1 5.5 5.2 12 12 0.95 3209.57  0.5 1.2 6.1 5.8 11 12 0.46 3355.45 1569
786 YES Ultra Short Term NR 0.2 1.2 3.9 - 25 - 0.80 1066.59 NR 0.3 1.4 4.5 - 25 - 0.30 1074.66 61
Debt: Liquid 0.3 0.8 4.5 6.0 29 28 0.3 0.8 4.6 6.1 29 28
787 ABSL Liquid  0.3 0.8 4.7 6.3 4 3 0.31 325.20  0.3 0.8 4.8 6.4 6 5 0.21 327.25 32611
788 Axis Liquid  0.3 0.8 4.7 6.3 7 5 0.25 2244.10  0.3 0.8 4.7 6.4 12 9 0.18 2255.36 24817
789 Baroda Liquid  0.3 0.8 4.5 6.3 16 11 0.32 2320.68  0.3 0.8 4.6 6.4 17 11 0.22 2338.12 3684
790 BNP Paribas Liquid  0.3 0.8 4.5 6.2 - - 0.18 3099.97  0.3 0.9 4.7 6.4 - - 0.08 3123.89 1021
791 BOI AXA Liquid  0.3 0.8 4.4 6.2 21 19 0.21 2319.42  0.3 0.8 4.5 6.3 21 18 0.12 2336.64 320
792 Canara Robeco Liquid  0.3 0.8 4.0 6.0 27 25 0.14 2428.58  0.3 0.8 4.0 6.0 27 25 0.12 2435.83 1394
793 DSP Liquid ETF NR 0.2 0.7 3.5 - - - 0.59 1000.00 NR - - - - - - - - 87
794 DSP Liquidity  0.3 0.8 4.5 6.2 17 16 0.21 2883.09  0.3 0.8 4.6 6.3 18 15 0.15 2903.28 12286
795 Edelweiss Liquid  0.3 0.8 4.5 6.2 18 14 0.36 2590.53  0.3 0.9 4.8 6.4 8 4 0.11 2617.64 1145
796 Essel Liquid  0.2 0.7 4.0 6.0 - - 0.20 2205.80  0.2 0.8 4.1 6.1 - - 0.15 2220.64 35
797 Franklin Liquid  0.3 0.8 4.8 6.4 2 1 0.19 3037.41  0.3 0.8 4.9 6.5 2 1 0.10 3052.13 2132
798 HDFC Liquid  0.3 0.8 4.5 6.1 20 22 0.30 3968.84  0.3 0.8 4.6 6.2 19 21 0.20 3994.69 63544
799 HSBC Cash  0.3 0.8 4.4 6.2 - - 0.22 2012.83  0.3 0.8 4.5 6.3 - - 0.12 2022.25 3671
800 ICICI Pru Liquid  0.3 0.8 4.6 6.3 9 9 0.32 299.24  0.3 0.8 4.8 6.4 9 12 0.20 300.77 44170
801 ICICI Pru Liquid ETF NR 0.2 0.6 3.2 - - - 0.65 1000.00 NR - - - - - - - - 75
802 IDBI Liquid  0.3 0.9 4.9 6.4 1 2 0.17 2167.10  0.3 0.9 4.9 6.5 1 2 0.13 2183.53 1340
803 IDFC Cash  0.3 0.8 4.4 6.1 23 24 0.19 2442.78  0.3 0.8 4.4 6.2 23 24 0.14 2454.63 10176
804 IIFL Liquid  0.2 0.7 3.8 5.6 - - 0.25 1566.40  0.2 0.7 3.9 5.6 - - 0.20 1571.87 84
805 Indiabulls Liquid  0.3 0.8 4.3 6.1 25 23 0.22 1963.46  0.3 0.8 4.4 6.2 25 23 0.12 1978.56 237
806 Invesco India Liquid  0.3 0.8 4.4 6.2 22 21 0.22 2774.93  0.3 0.8 4.5 6.2 22 20 0.15 2789.75 5282
CCIL T Bill Liquidity Weight 0.2 0.6 3.3 4.0

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

68 Mutual Fund Insight December 2020

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Debt REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Liquid 0.3 0.8 4.5 6.0 29 28 0.3 0.8 4.6 6.1 29 28
807 ITI Liquid  0.2 0.7 3.5 - 29 - 0.23 1065.30  0.3 0.8 3.6 - 29 - 0.12 1067.08 47
808 JM Liquid  0.3 0.8 4.3 6.2 24 18 0.14 55.17  0.3 0.8 4.4 6.3 24 19 0.15 55.52 1782
809 Kotak Liquid  0.3 0.8 4.5 6.2 19 20 0.28 4089.59  0.3 0.8 4.6 6.2 20 22 0.20 4105.82 27682
810 L&T Liquid  0.3 0.8 4.6 6.2 11 12 0.20 2770.87  0.3 0.8 4.6 6.3 14 16 0.15 2782.84 7227
811 LIC MF Liquid  0.3 0.8 4.7 6.2 8 15 0.25 3656.08  0.3 0.8 4.8 6.4 4 10 0.11 3687.51 7836
812 Mahindra Manulife Liquid  0.3 0.9 4.7 6.3 3 6 0.26 1312.20  0.3 0.9 4.8 6.4 5 3 0.15 1319.45 2062
813 Mirae Asset Cash Management  0.3 0.8 4.5 6.2 - - 0.21 2115.44  0.3 0.9 4.7 6.3 - - 0.11 2141.83 2919
814 Motilal Oswal Liquid  0.2 0.7 3.7 - - - 0.36 10.87  0.3 0.8 3.8 - - - 0.21 10.90 776
815 Nippon India ETF Liquid BeES NR 0.2 0.6 2.1 4.1 - - 0.65 1000.00 NR - - - - - - - - 2619
816 Nippon India Liquid  0.3 0.8 4.6 6.3 10 4 0.30 4935.38  0.3 0.8 4.7 6.4 11 6 0.20 4967.18 24930
817 Parag Parikh Liquid  0.3 0.8 4.0 - - - 0.25 1135.72  0.3 0.8 4.1 - - - 0.15 1138.66 887
818 PGIM India Insta Cash  0.3 0.8 4.6 6.3 12 7 0.28 262.92  0.3 0.8 4.7 6.4 10 7 0.14 264.55 670
819 Principal Cash Mgmt  0.3 0.8 4.1 2.9 26 28 0.22 1784.23  0.3 0.8 4.2 2.9 26 28 0.16 1794.29 152
820 Quant Liquid  0.4 1.2 5.3 6.5 - - 0.97 31.88  0.4 1.3 5.7 6.8 - - 0.62 32.30 70
821 Quantum Liquid  0.3 0.8 3.9 5.5 28 26 0.25 27.38  0.3 0.8 4.0 5.6 28 26 0.15 27.44 509
822 SBI Liquid  0.3 0.8 4.5 6.2 13 17 0.26 3162.85  0.3 0.8 4.6 6.3 16 17 0.18 3180.10 39754
823 Sundaram Money  0.3 0.8 4.5 6.2 15 13 0.26 42.57  0.3 0.8 4.6 6.3 15 14 0.17 42.82 3777
824 Tata Liquid  0.3 0.8 4.7 6.3 5 8 0.32 3185.03  0.3 0.9 4.8 6.4 3 8 0.21 3206.00 15556
825 Taurus Liquid  0.4 1.4 4.3 5.1 - - 0.48 2000.25  0.2 0.6 3.3 4.8 - - 0.45 1989.72 15
826 Union Liquid  0.3 0.8 4.7 4.9 6 27 0.19 1941.14  0.3 0.8 4.8 5.0 7 27 0.09 1956.13 873
827 UTI Liquid Cash  0.3 0.8 4.5 6.3 14 10 0.24 3310.80  0.3 0.8 4.6 6.3 13 13 0.17 3326.85 24597
828 YES Liquid  0.3 0.7 4.0 - - - 0.26 1096.75  0.3 0.8 4.1 - - - 0.18 1098.30 15
Debt: Money Market 0.4 0.9 5.9 7.0 18 12 0.4 1.0 6.2 7.3 18 12
829 ABSL Money Manager  0.4 1.1 6.9 7.7 1 1 0.34 280.53  0.4 1.2 7.1 7.8 1 1 0.21 282.57 9629
830 Axis Money Market NR 0.4 1.1 6.6 - 4 - 0.31 1087.31 NR 0.4 1.1 6.7 - 4 - 0.16 1089.23 1178
831 Baroda Money Market NR 0.3 0.8 4.3 - 17 - 0.65 1073.28 NR 0.3 0.9 4.6 - 17 - 0.32 1077.70 24
832 DSP Savings  0.3 0.9 6.0 7.1 12 - 0.46 40.69  0.4 0.9 6.2 7.3 11 - 0.25 41.47 1976
833 Franklin Savings  0.3 0.9 6.4 7.4 6 6 0.28 38.39  0.4 1.0 6.5 7.6 7 4 0.13 39.37 1334
834 HDFC Money Market  0.4 1.1 6.8 7.5 2 2 0.35 4351.74  0.4 1.1 7.0 7.7 2 2 0.21 4403.61 10543
835 ICICI Prudential Money Market  0.4 1.1 6.5 7.4 5 5 0.33 288.71  0.4 1.1 6.7 7.5 5 6 0.21 290.74 8615
836 IDFC Money Manager  0.3 0.7 5.3 6.0 15 11 0.97 31.52  0.3 0.9 6.2 6.7 13 11 0.20 33.15 2683
837 Indiabulls Savings  0.2 0.6 4.0 - 18 - 0.22 1133.60  0.2 0.7 4.2 - 18 - 0.09 1136.15 1
838 Invesco India Money Market  0.3 0.9 6.1 6.9 9 9 0.55 2357.34  0.4 1.0 6.4 7.2 9 10 0.20 2405.88 522
839 Kotak Money Market  0.4 1.1 6.0 7.3 11 7 0.29 3415.39  0.4 1.1 6.1 7.4 14 9 0.22 3430.50 8039
840 L&T Money Market  0.3 0.8 5.7 7.1 13 8 0.73 20.53  0.4 0.9 6.2 7.6 12 3 0.25 21.17 1091
841 Nippon India Money Market  0.4 1.1 6.3 7.5 8 3 0.25 3145.68  0.4 1.1 6.4 7.6 10 5 0.15 3168.62 5762
842 PGIM India Money Market Fund NR 0.4 0.8 - - - - 1.05 1031.57 NR 0.4 1.0 - - - - 0.15 1037.24 140
843 Quant Money Market  0.2 0.8 5.0 6.6 16 - 0.21 31.85  0.2 0.8 5.1 6.7 16 - 0.11 32.15 12
844 SBI Savings  0.4 1.0 6.0 6.9 10 10 0.83 32.12  0.4 1.2 6.6 7.5 6 8 0.23 33.65 21035
845 Sundaram Money Market  0.3 0.9 5.5 - 14 - 0.27 11.52  0.3 0.9 5.5 - 15 - 0.18 11.54 93
846 Tata Money Market  0.4 1.2 6.6 4.9 3 12 0.43 3582.03  0.4 1.2 6.8 5.0 3 12 0.22 3608.25 632
847 UTI Money Market  0.4 1.1 6.3 7.4 7 4 0.27 2338.26  0.4 1.1 6.4 7.5 8 7 0.17 2357.43 6230
Debt: Overnight 0.3 0.8 3.6 4.9 17 2 0.3 0.8 3.8 5.3 17 2
848 ABSL Overnight  0.2 0.7 3.6 - 12 - 0.22 1096.44  0.3 0.8 3.7 - 11 - 0.10 1099.27 7118
849 Axis Overnight  0.3 0.8 3.7 - 5 - 0.12 1073.42  0.3 0.8 3.7 - 7 - 0.07 1074.48 5347
850 Baroda Overnight  0.3 0.8 3.7 - 4 - 0.15 1066.61  0.3 0.8 3.8 - 4 - 0.10 1067.50 218
851 BNP Paribas Overnight  0.2 0.7 3.7 - - - 0.18 1067.76  0.3 0.8 3.8 - - - 0.08 1069.62 349
852 BOI AXA Overnight NR 0.3 0.8 - - - - 0.17 1026.99 NR 0.3 0.8 - - - - 0.07 1027.73 167
853 Canara Robeco Overnight NR 0.3 0.8 3.8 - 3 - 0.12 1052.29 NR 0.3 0.8 3.8 - 3 - 0.10 1052.73 149
CCIL T Bill Liquidity Weight 0.2 0.6 3.3 4.0

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

Mutual Fund Insight December 2020 69

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Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Overnight 0.3 0.8 3.6 4.9 17 2 0.3 0.8 3.8 5.3 17 2
854 DSP Overnight  0.2 0.8 3.8 - - - 0.17 1086.72  0.3 0.8 3.9 - - - 0.10 1088.48 1797
855 Edelweiss Overnight NR 0.3 0.8 3.9 - 1 - 0.15 1053.41 NR 0.3 0.8 3.9 - 1 - 0.10 1054.39 283
856 Franklin Overnight NR 0.2 0.8 3.5 - - - 0.15 1061.51 NR 0.3 0.8 3.6 - - - 0.10 1062.45 412
857 HDFC Overnight  0.2 0.7 3.6 5.1 - - 0.20 3004.31  0.2 0.8 3.7 5.2 - - 0.10 3020.60 19566
858 HSBC Overnight NR 0.2 0.8 3.6 - - - 0.26 1060.18 NR 0.3 0.8 3.8 - - - 0.11 1062.48 540
859 ICICI Pru Overnight  0.2 0.7 3.6 - - - 0.20 109.40  0.3 0.8 3.7 - - - 0.10 109.61 8340
860 IDFC Overnight  0.2 0.7 3.6 - 14 - 0.22 1082.09  0.3 0.8 3.7 - 14 - 0.09 1084.52 2675
861 Indiabulls Overnight NR 0.2 0.7 3.6 - 16 - 0.20 1052.99 NR 0.3 0.8 3.7 - 17 - 0.10 1054.39 167
862 Invesco India Overnight NR 0.3 0.8 - - - - 0.15 1027.23 NR 0.3 0.8 - - - - 0.09 1027.73 291
863 ITI Overnight NR 0.2 0.7 3.6 - 13 - 0.18 1036.93 NR 0.3 0.8 3.7 - 15 - 0.08 1037.98 15
864 JM Overnight Fund NR 0.3 0.8 - - - - 0.05 1032.31 NR 0.3 0.8 - - - - - 1032.96 18
865 Kotak Overnight  0.2 0.7 3.6 - - - 0.20 1083.04  0.3 0.8 3.7 - - - 0.10 1084.32 6341
866 L&T Overnight  0.3 0.7 3.4 4.7 17 2 0.20 1511.05  0.3 0.8 3.7 5.3 9 1 0.10 1586.00 1513
867 LIC MF Overnight NR 0.2 0.7 3.6 - 10 - 0.20 1051.76 NR 0.3 0.8 3.7 - 8 - 0.07 1053.53 584
868 Mahindra Manulife Overnight NR 0.3 0.8 3.6 - 11 - 0.22 1050.37 NR 0.3 0.8 3.7 - 13 - 0.12 1051.74 91
869 Mirae Asset Overnight NR 0.3 0.8 3.8 - - - 0.21 1039.75 NR 0.3 0.8 3.9 - - - 0.10 1040.86 248
870 Nippon India Overnight  0.2 0.8 3.7 - - - 0.19 108.90  0.3 0.8 3.8 - - - 0.10 109.10 4459
871 PGIM India Overnight NR 0.3 0.8 3.8 - 2 - 0.20 1047.37 NR 0.3 0.8 3.9 - 2 - 0.10 1048.71 168
872 SBI Overnight  0.3 0.8 3.6 5.2 8 1 0.18 3279.91  0.3 0.8 3.7 5.3 12 2 0.11 3310.97 12932
873 Sundaram Overnight  0.3 0.7 3.7 - 7 - 0.20 1079.36  0.3 0.8 3.8 - 5 - 0.10 1081.16 853
874 Tata Overnight  0.3 0.8 3.6 - 9 - 0.21 1070.68  0.3 0.8 3.7 - 10 - 0.11 1072.44 2131
875 Union Overnight  0.2 0.7 3.6 - 15 - 0.17 1068.82  0.3 0.8 3.7 - 16 - 0.07 1070.54 23
876 UTI Overnight  0.3 0.8 3.7 4.9 6 - 0.11 2760.15  0.3 0.8 3.8 5.0 6 - 0.06 2783.14 7024
877 YES Overnight NR 0.2 0.7 3.5 - - - 0.19 1045.71 NR 0.2 0.7 3.6 - - - 0.13 1046.43 76
Debt: Dynamic Bond 1.5 1.2 9.1 7.0 27 23 1.5 1.4 9.8 7.8 27 23
878 ABSL Active Debt Multi Manager FoF  1.0 1.4 8.8 7.1 17 14 0.68 28.54  1.0 1.6 9.4 7.7 18 16 0.19 29.63 7
879 ABSL Dynamic Bond  0.9 1.5 3.9 3.8 27 21 1.63 33.77  1.0 1.6 4.4 4.4 27 21 1.03 35.26 1709
880 Axis All Seasons Debt FOF NR 1.7 1.7 - - - - 0.52 10.80 NR 1.7 1.8 - - - - 0.22 10.82 69
881 Axis Dynamic Bond  2.4 1.4 13.4 9.4 1 2 0.67 22.90  2.4 1.5 13.9 10.2 1 2 0.25 24.74 992
882 Baroda Dynamic Bond  1.4 0.9 7.2 3.2 22 22 1.51 17.74  1.5 1.0 7.6 3.6 22 22 1.19 18.71 22
883 BNP Paribas Flexi Debt  1.5 1.1 9.1 6.7 14 16 1.65 35.98  1.6 1.4 10.0 7.7 16 14 0.51 38.14 119
884 Canara Robeco Dynamic Bond  1.3 0.8 9.2 6.9 13 15 1.75 23.85  1.4 1.0 10.1 7.7 13 15 0.88 25.02 149
885 DSP Strategic Bond  1.8 1.1 12.3 8.9 3 4 1.13 2609.56  1.9 1.3 13.0 9.5 3 7 0.49 2697.90 1715
886 Edelweiss Dynamic Bond  0.3 0.8 6.5 7.9 23 - 0.98 22.52  0.3 1.0 7.3 8.6 23 - 0.23 24.00 102
887 HDFC Dynamic Debt  1.1 1.4 8.6 4.5 18 20 1.77 67.30  1.1 1.6 9.5 5.2 17 20 1.16 71.29 476
888 HSBC Flexi Debt  1.7 1.0 8.3 7.2 19 13 1.74 28.14  1.7 1.2 9.2 8.0 19 12 0.95 29.87 67
889 ICICI Pru All Seasons Bond  1.5 1.7 12.3 8.8 4 6 1.52 27.49  1.6 1.8 13.0 9.5 4 6 0.80 28.69 4529
890 IDBI Dynamic Bond  1.1 1.1 9.7 5.5 12 19 1.54 16.94  1.1 1.3 10.6 6.6 11 19 0.76 18.06 20
891 IDFC Dynamic Bond  1.9 1.0 12.4 9.3 2 3 1.72 27.07  2.0 1.2 13.3 10.1 2 3 0.91 28.89 2686
892 IIFL Dynamic Bond  1.3 1.6 7.5 6.6 20 17 1.07 16.55  1.4 1.8 8.2 7.3 20 18 0.57 17.24 568
893 Indiabulls Dynamic Bond  2.4 1.3 6.4 - 24 - 0.74 1165.70  2.4 1.4 7.0 - 24 - 0.24 1177.23 17
894 JM Dynamic Debt  1.1 1.1 7.4 7.1 21 - 0.60 32.05  1.1 1.2 8.1 7.7 21 - 0.38 33.44 106
895 Kotak Dynamic Bond  2.0 1.9 11.4 9.5 5 1 1.15 28.88  2.1 2.1 12.1 10.2 5 1 0.45 30.31 1726
896 L&T Flexi Bond  1.6 1.3 10.1 8.3 9 7 1.62 23.37  1.6 1.4 10.8 9.1 10 8 0.96 24.59 59
897 Mirae Asset Dynamic Bond  0.9 0.6 9.8 8.2 11 8 1.39 13.10  1.0 0.8 10.9 9.6 9 5 0.49 13.72 119
898 Nippon India Dynamic Bond  3.1 1.3 10.7 7.5 7 12 0.68 28.90  3.2 1.4 11.3 8.2 7 10 0.25 30.42 1276
899 PGIM India Dynamic Bond  1.4 1.4 9.0 8.1 15 9 1.76 2074.59  1.5 1.6 10.0 9.0 14 9 0.87 2224.26 115
900 Quant Dynamic Bond  0.4 0.8 5.3 4.5 26 - 0.21 63.97  0.4 0.8 5.4 4.7 26 - 0.11 64.90 20
CCIL T Bill Liquidity Weight 0.2 0.6 3.3 4.0
VR Bond Index 0.9 0.6 7.3 6.9

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

70 Mutual Fund Insight December 2020

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Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Dynamic Bond 1.5 1.2 9.1 7.0 27 23 1.5 1.4 9.8 7.8 27 23
901 Quantum Dynamic Bond  1.2 1.8 9.9 7.7 10 11 0.75 16.13  1.2 1.8 10.0 7.8 15 13 0.63 16.19 69
902 SBI Dynamic Bond  1.9 1.2 11.2 8.8 6 5 1.64 27.56  2.0 1.4 11.9 9.6 6 4 0.87 29.06 2231
903 Tata Dynamic Bond  1.7 1.0 9.0 6.5 16 18 1.41 31.82  1.8 1.3 10.2 7.6 12 17 0.16 34.49 252
904 Union Dynamic Bond  1.9 1.1 10.6 7.8 8 10 1.49 18.81  1.9 1.2 11.0 8.1 8 11 1.28 19.65 132
905 UTI Dynamic Bond  1.2 0.4 6.2 1.7 25 23 1.59 21.00  1.2 0.5 6.8 2.3 25 23 1.02 22.06 256
Debt: Corporate Bond 1.3 1.5 9.7 7.6 20 15 1.3 1.7 10.2 8.0 20 15
906 ABSL Corporate Bond  1.4 1.7 11.6 9.1 2 2 0.44 84.59  1.4 1.8 11.7 9.3 3 2 0.29 85.35 20645
907 ABSL Retrmnt 50s Plus Debt  1.1 0.8 5.9 - 19 - 2.31 11.02  1.2 1.2 7.5 - 19 - 0.87 11.28 64
908 Axis Corporate Debt  1.4 1.9 11.3 8.3 4 6 0.93 12.99  1.4 2.0 12.2 9.2 2 4 0.28 13.34 1253
909 BNP Paribas Corporate Bond  1.4 1.5 9.5 5.1 13 14 0.70 21.52  1.4 1.6 9.9 5.5 14 14 0.25 22.42 24
910 Canara Robeco Corporate Bond  1.4 1.3 9.5 7.7 12 11 1.02 17.19  1.4 1.5 10.3 8.5 11 10 0.35 17.88 309
911 DSP Corporate Bond  0.8 1.4 9.4 - 14 - 0.48 12.53  0.8 1.5 9.7 - 16 - 0.25 12.60 1269
912 Edelweiss Corporate Bond  0.5 1.2 2.2 -0.1 20 15 0.97 13.14  0.5 1.3 2.6 0.4 20 15 0.57 13.53 7
913 Franklin Corporate Debt  1.4 2.3 8.7 8.2 18 9 0.86 75.75  1.4 2.4 9.4 8.8 18 7 0.29 79.97 829
914 HDFC Corporate Bond  1.5 1.6 11.3 9.1 3 3 0.61 24.61  1.5 1.7 11.6 9.2 4 3 0.30 24.83 20526
915 HSBC Corporate Bond Fund NR 0.8 - - - - - 0.75 10.08 NR 0.8 - - - - - 0.35 10.09 703
916 ICICI Pru Corporate Bond  1.3 1.6 10.5 8.6 7 5 0.59 22.34  1.3 1.6 10.9 9.0 7 6 0.28 23.11 15201
917 IDFC Corporate Bond  1.7 1.4 11.1 8.3 5 7 0.58 14.84  1.7 1.5 11.5 8.7 5 9 0.27 15.07 18236
918 Invesco India Corporate Bond  0.9 1.6 9.8 7.3 11 12 0.60 2448.94  1.0 1.7 10.2 7.9 13 13 0.20 2577.60 1870
919 Kotak Corporate Bond  1.1 1.7 9.3 8.7 17 4 0.61 2862.25  1.2 1.8 9.6 9.0 17 5 0.32 2940.94 5171
920 L&T Triple Ace Bond  2.1 1.1 13.0 9.8 1 1 0.62 56.71  2.1 1.2 13.3 10.1 1 1 0.30 59.45 5301
921 Nippon India Corporate Bond Fund  1.3 2.2 9.3 7.8 16 10 0.70 44.59  1.3 2.3 9.8 8.2 15 11 0.30 46.00 518
922 PGIM India Premier Bond  1.3 1.7 9.4 7.1 15 13 0.95 33.30  1.3 1.9 10.3 8.2 12 12 0.14 35.89 73
923 SBI Corporate Bond  1.3 1.3 10.1 - 10 - 0.84 11.97  1.4 1.4 10.6 - 10 - 0.34 12.08 25314
924 Sundaram Corporate Bond  1.1 1.4 10.5 8.3 8 8 0.52 30.80  1.1 1.5 10.7 8.7 8 8 0.28 31.50 1044
925 Union Corporate Bond  1.6 1.4 10.3 - 9 - 1.02 11.91  1.6 1.5 10.6 - 9 - 0.77 12.01 314
926 UTI Corporate Bond  1.4 1.6 10.8 - 6 - 0.58 12.56  1.5 1.7 11.1 - 6 - 0.30 12.65 1809
Debt: Credit Risk 1.0 2.2 -0.1 0.9 18 16 1.1 2.4 0.7 1.8 18 16
927 ABSL Credit Risk  0.9 2.5 4.9 5.3 12 7 1.86 14.76  0.9 2.7 5.7 6.3 12 7 1.11 15.53 1742
928 Axis Credit Risk  1.0 2.1 8.0 5.8 4 6 1.67 15.85  1.1 2.4 9.2 7.0 5 6 0.56 17.04 566
929 Baroda Credit Risk  1.3 3.7 1.1 3.1 13 9 1.83 14.44  1.3 3.9 1.8 4.0 13 9 1.11 15.33 242
930 BOI AXA Credit Risk  0.7 1.6 -44.2 -32.8 18 16 1.51 3.93  0.7 1.7 -44.0 -32.6 18 16 1.23 3.97 69
931 DSP Credit Risk  0.4 2.6 5.1 2.0 11 11 1.58 29.77  0.5 2.8 5.8 2.7 11 11 0.78 31.29 328
932 HDFC Credit Risk Debt  2.1 2.9 10.2 7.5 1 2 1.68 17.68  2.1 3.1 10.7 8.2 1 2 1.13 18.57 6189
933 ICICI Pru Credit Risk  1.2 2.2 10.1 8.2 2 1 1.63 23.01  1.3 2.4 10.7 9.0 2 1 0.96 24.59 6563
934 IDBI Credit Risk  1.4 2.7 -5.1 -1.7 15 14 1.35 12.83  1.5 2.8 -4.5 -0.9 15 14 0.67 13.59 38
935 IDFC Credit Risk  1.1 1.7 7.2 6.6 6 5 1.61 12.80  1.1 1.9 8.2 7.7 6 5 0.66 13.27 795
936 Invesco India Credit Risk  0.8 1.3 8.0 2.2 5 10 1.50 1432.70  0.9 1.5 9.3 3.2 4 10 0.36 1509.84 146
937 Kotak Credit Risk  0.5 1.8 6.4 6.8 7 4 1.77 22.83  0.5 2.1 7.4 7.8 7 3 0.67 24.55 1905
938 L&T Credit Risk  1.2 2.6 5.1 4.0 10 8 1.66 21.97  1.3 3.1 6.1 4.8 10 8 0.87 22.94 259
939 Mahindra Manulife Credit Risk  0.9 1.4 5.9 - 8 - 1.86 11.49  0.9 1.7 7.1 - 8 - 0.81 11.78 119
940 Nippon India Credit Risk  1.2 2.7 -7.5 0.1 16 13 1.64 23.79  1.3 2.9 -6.9 0.8 16 13 1.02 25.35 1333
941 PGIM India Credit Risk  1.1 2.0 -4.0 1.2 14 12 1.84 14.01  1.2 2.3 -2.9 2.3 14 12 0.64 14.92 70
942 SBI Credit Risk  1.5 2.6 8.9 7.0 3 3 1.56 33.61  1.6 2.7 9.6 7.8 3 4 0.93 35.23 3721
943 Sundaram ST Credit Risk  0.3 0.6 5.4 1.9 9 - 1.43 26.17  0.4 0.8 6.2 2.7 9 - 0.69 27.57 116
944 UTI Credit Risk  0.9 1.8 -27.9 -10.4 17 15 1.60 11.16  1.0 2.0 -27.3 -9.6 17 15 0.70 12.19 361
Debt: Banking and PSU 1.3 1.3 9.7 8.4 19 16 1.3 1.4 10.1 8.8 19 16
945 ABSL Banking & PSU Debt  1.5 1.5 10.5 8.8 3 7 0.68 280.17  1.5 1.6 10.9 9.1 3 8 0.35 286.18 13264
CCIL T Bill Liquidity Weight 0.2 0.6 3.3 4.0
VR Bond Index 0.9 0.6 7.3 6.9

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

Mutual Fund Insight December 2020 71

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For more on funds, visit www.valueresearchonline.com

Debt REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Banking and PSU 1.3 1.3 9.7 8.4 19 16 1.3 1.4 10.1 8.8 19 16
946 Axis Banking & PSU Debt  0.9 1.4 9.3 9.1 14 3 0.62 2030.34  1.0 1.4 9.6 9.5 14 3 0.31 2065.50 17591
947 DSP Banking & PSU Debt  1.2 1.4 10.3 8.6 7 9 0.54 18.50  1.2 1.4 10.6 8.9 8 11 0.32 18.92 4349
948 Edelweiss Banking and PSU Debt  2.4 1.4 13.6 10.3 1 1 0.55 18.92  2.4 1.5 14.0 10.6 1 1 0.20 19.32 374
949 Franklin Banking & PSU Debt  1.4 1.1 9.2 8.8 15 6 0.50 17.28  1.4 1.2 9.5 9.2 15 7 0.19 17.78 1018
950 HDFC Banking and PSU Debt  1.4 1.8 10.4 8.3 6 12 0.81 17.61  1.4 1.9 10.9 8.8 5 12 0.36 17.99 9329
951 ICICI Pru Banking & PSU Debt  1.3 1.4 9.5 7.9 13 14 0.83 24.61  1.3 1.5 10.0 8.3 13 14 0.37 25.19 13200
952 IDFC Banking & PSU Debt  1.1 1.4 10.5 9.4 4 2 0.65 18.96  1.1 1.5 10.9 9.8 4 2 0.30 19.23 18980
953 Indiabulls Banking & PSU Debt NR 1.0 0.9 5.0 - 19 - 0.72 1105.92 NR 1.0 1.1 5.6 - 19 - 0.22 1114.47 21
954 Invesco India Banking & PSU Debt  2.2 1.2 9.8 8.7 12 8 0.65 1797.44  2.3 1.3 10.3 9.2 11 6 0.23 1890.66 128
955 ITI Banking & PSU Debt Fund NR - - - - - - - 10.00 NR - - - - - - - 10.00 -
956 Kotak Banking & PSU Debt  1.5 1.5 10.5 8.9 5 4 0.74 49.84  1.5 1.6 10.9 9.3 6 5 0.34 50.94 9277
957 L&T Banking & PSU Debt  1.1 1.3 9.8 8.3 11 13 0.61 19.16  1.1 1.4 10.2 8.7 12 13 0.21 19.82 4103
958 LIC MF Banking & PSU Debt  0.9 1.0 8.3 8.5 17 10 0.83 27.16  1.0 1.1 8.9 9.1 17 9 0.28 28.58 1751
959 Mirae Asset Banking And PSU Debt Fund NR 1.1 0.9 - - - - 0.81 10.10 NR 1.1 1.0 - - - - 0.34 10.11 255
960 Nippon India Banking & PSU Debt  1.4 1.6 10.6 8.9 2 5 0.80 15.92  1.4 1.8 11.1 9.4 2 4 0.31 16.19 6429
961 PGIM India Banking & PSU Debt  1.1 1.5 9.8 8.4 10 11 0.78 18.79  1.1 1.6 10.4 9.0 10 10 0.32 19.49 86
962 SBI Banking and PSU  1.5 1.2 10.2 9.0 8 - 0.81 2431.91  1.6 1.3 10.7 9.5 7 - 0.34 2529.19 8953
963 Sundaram Banking & PSU Debt  0.6 1.2 7.9 7.6 18 15 0.36 33.44  0.6 1.2 8.0 7.8 18 15 0.23 33.68 1722
964 Tata Banking & PSU Debt NR 1.5 1.4 9.9 - 9 - 0.71 11.09 NR 1.5 1.5 10.5 - 9 - 0.21 11.15 362
965 UTI Banking & PSU Debt  1.1 1.2 9.1 4.6 16 16 0.32 16.00  1.1 1.2 9.1 4.7 16 16 0.31 16.10 264
Debt: Floater 1.0 1.6 8.7 7.8 7 5 1.0 1.7 9.3 8.2 7 5
966 ABSL Floating Rate NR 0.8 1.5 8.5 8.1 5 2 0.36 262.20 NR 0.8 1.6 8.7 8.4 5 3 0.19 266.83 7110
967 Franklin Floating Rate NR 0.5 1.4 6.1 6.7 7 5 0.95 30.90 NR 0.6 1.6 6.9 7.4 7 5 0.23 32.64 163
968 HDFC Floating Rate Debt NR 1.0 1.9 8.9 8.0 4 3 0.48 37.18 NR 1.0 1.9 9.1 8.2 4 4 0.23 37.52 13351
969 ICICI Pru Floating Interest NR 0.9 1.9 8.9 7.8 3 4 1.31 318.35 NR 0.9 2.1 9.7 8.6 3 2 0.59 336.91 9844
970 Kotak Floating Rate NR 1.7 1.7 10.4 - 2 - 0.63 1138.76 NR 1.7 1.8 10.8 - 2 - 0.23 1143.98 1585
971 Nippon India Floating Rate NR 1.4 1.8 10.9 8.2 1 1 0.57 34.12 NR 1.4 1.8 11.4 8.7 1 1 0.22 35.38 12372
972 UTI Floater NR 0.7 1.1 7.5 - 6 - 1.29 1167.58 NR 0.7 1.3 8.5 - 6 - 0.36 1190.79 1869
Debt: Gilt 1.6 1.1 10.7 8.5 25 25 1.7 1.2 11.4 9.1 21 21
973 ABSL Govt Securities  1.7 1.2 11.6 9.0 9 11 1.18 63.10  1.8 1.3 12.3 9.7 10 10 0.58 65.77 574
974 Axis Gilt  2.1 2.1 12.7 9.2 4 6 1.00 19.70  2.2 2.3 13.2 9.7 4 9 0.40 20.49 140
975 Baroda Gilt  1.6 0.9 9.3 7.7 21 19 1.84 33.20  1.7 1.1 10.2 8.5 17 15 1.08 35.53 30
976 Canara Robeco Gilt  1.5 0.9 9.7 7.6 19 20 1.25 59.87  1.6 1.1 10.5 8.3 14 16 0.49 62.37 130
977 DSP Govt Securities  1.8 1.6 12.8 10.0 3 2 1.01 73.27  1.8 1.7 13.4 10.7 3 2 0.54 76.06 549
978 Edelweiss Govt Securities  1.9 2.4 12.0 9.9 6 3 1.36 18.74  2.0 2.5 12.5 10.4 8 4 0.89 19.33 61
979 Franklin Govt Securities  0.8 0.1 7.8 5.7 23 25 1.05 47.13  0.8 0.2 8.4 6.5 21 21 0.59 50.50 260
980 HDFC Gilt  1.6 1.2 10.0 7.4 18 21 0.90 43.41  1.6 1.3 10.5 7.8 13 18 0.44 44.77 2129
981 ICICI Pru Gilt  1.7 0.9 12.9 9.1 2 10 1.21 77.12  1.8 1.0 13.4 9.6 2 11 0.60 80.96 4203
982 IDBI Gilt  1.3 0.4 7.5 5.9 25 24 1.56 17.01  1.4 0.6 8.5 6.8 20 20 0.71 17.93 28
983 IDFC GSF Investment  2.0 1.0 13.6 10.5 1 1 1.22 27.62  2.0 1.2 14.2 11.1 1 1 0.60 29.00 1596
984 Invesco India Gilt  1.5 0.2 7.8 6.9 24 23 1.25 2250.34  1.6 0.4 8.7 7.7 19 19 0.48 2401.63 32
985 Kotak Gilt Investment  1.7 1.1 11.8 8.8 8 14 1.40 77.02  1.8 1.3 12.9 9.9 6 6 0.40 83.36 840
986 L&T Gilt  1.9 1.4 10.9 7.9 12 18 1.70 53.91  2.0 1.7 12.3 9.3 9 12 0.57 58.43 283
987 LIC MF G-Sec Long Term ETF NR 1.5 1.2 10.5 8.7 16 15 0.27 21.90 NR - - - - - - - - 92
988 LIC MF GSF  1.6 1.3 10.6 9.1 13 9 - 27.60  - - - - - - - - 56
989 Nippon India ETF Long Term Gilt NR 1.5 1.2 10.5 9.0 15 12 0.10 22.23 NR - - - - - - - - 12
990 Nippon India Gilt Securities Inst  1.5 0.8 11.1 9.6 10 4 1.71 25.22  1.5 1.0 12.1 10.7 11 3 0.62 32.56 1506
991 PGIM India Gilt  1.4 1.3 9.4 7.9 20 17 1.59 23.79  1.5 1.6 10.3 8.6 16 14 0.25 24.51 153
CCIL All Sovereign Bond - TRI 1.6 0.5 12.4 9.8
CCIL T Bill Liquidity Weight 0.2 0.6 3.3 4.0

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

72 Mutual Fund Insight December 2020

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For more on funds, visit www.valueresearchonline.com

Debt REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Gilt 1.6 1.1 10.7 8.5 25 25 1.7 1.2 11.4 9.1 21 21
992 SBI Magnum Gilt  2.0 1.2 12.1 9.2 5 7 0.95 50.01  2.0 1.3 12.6 9.8 7 8 0.47 51.79 3693
993 Tata GSF  1.6 0.5 9.1 7.0 22 22 1.49 61.92  1.6 0.7 9.9 8.0 18 17 0.79 66.32 189
994 UTI Gilt  1.6 0.5 10.1 8.7 17 16 0.93 49.06  1.6 0.5 10.4 9.0 15 13 0.65 50.15 758
Debt: Gilt with 10 yr Constant Duration 1.7 1.2 11.6 10.1 5 5 1.7 1.3 12.7 11.1 4 4
995 DSP 10Y G-Sec NR 1.4 0.9 11.9 8.6 3 4 0.50 17.44 NR 1.4 1.0 12.1 8.9 3 4 0.30 17.69 43
996 ICICI Pru Constant Maturity Gilt NR 1.8 1.7 13.5 11.2 1 2 0.39 18.96 NR 1.8 1.7 13.7 11.4 1 2 0.23 19.25 272
997 IDFC Govt Securities Constant Mtrty NR 2.0 1.2 13.2 12.6 2 1 0.61 35.60 NR 2.0 1.2 13.3 12.7 2 1 0.48 35.90 308
998 SBI ETF 10 Year Gilt NR 1.5 0.8 8.2 7.2 5 5 0.14 201.63 NR - - - - - - - - 2
999 SBI Magnum Constant Maturity NR 1.7 1.3 11.3 10.9 4 3 0.64 49.39 NR 1.7 1.4 11.6 11.2 4 3 0.33 50.60 745
Commodities: Gold -0.1 -6.0 29.2 18.6 14 14 0.2 -5.8 30.1 18.9 6 6
1000 ABSL Gold  -0.5 -6.1 28.1 18.1 14 14 0.51 15.69  -0.4 -6.0 28.6 18.4 6 6 0.24 16.03 202
1001 ABSL Gold ETF NR -0.3 -5.8 29.3 18.8 7 4 0.48 4616.09 NR - - - - - - - - 251
1002 Axis Gold  0.5 -5.1 30.2 19.1 2 1 0.67 15.67  0.6 -5.0 30.7 19.6 2 1 0.17 16.85 191
1003 Axis Gold ETF NR -0.3 -6.0 28.6 18.8 11 3 0.53 43.74 NR - - - - - - - - 313
1004 HDFC Gold  0.4 -6.1 30.3 18.6 1 6 0.60 16.20  0.4 -6.0 30.9 19.1 1 2 0.10 16.70 938
1005 HDFC Gold ETF NR -0.3 -6.1 28.7 18.4 10 12 0.59 4500.55 NR - - - - - - - - 1923
1006 ICICI Pru Gold ETF NR -0.3 -6.1 28.3 18.5 - - 0.65 44.93 NR - - - - - - - - 1835
1007 ICICI Pru Regular Gold Svngs (FOF)  0.3 -6.1 28.9 18.3 - - 0.53 16.67  0.3 -6.0 29.2 18.7 - - 0.08 17.01 376
1008 IDBI Gold  1.5 -10.8 26.8 17.1 - - 0.66 13.80  1.5 -10.8 27.3 17.7 - - 0.26 14.27 46
1009 IDBI Gold ETF NR -0.3 -5.8 28.5 18.8 - - 0.35 4658.04 NR - - - - - - - - 93
1010 Invesco India Gold  0.1 -5.7 30.0 18.5 3 11 0.54 15.31  0.1 -5.6 30.5 18.9 3 3 0.16 15.66 46
1011 Invesco India Gold ETF NR -0.3 -6.2 29.1 18.8 8 2 0.45 4554.12 NR - - - - - - - - 73
1012 Kotak Gold  1.0 -5.4 30.4 19.3 - - 0.58 21.00  1.0 -5.3 30.9 19.8 - - 0.15 21.75 715
1013 Kotak Gold ETF NR -0.3 -6.1 29.0 18.7 - - 0.55 439.15 NR - - - - - - - - 1446
1014 Nippon India ETF Gold BeES NR 0.5 -5.8 29.6 18.7 5 5 0.79 44.31 NR - - - - - - - - 5129
1015 Nippon India Gold Savings  0.3 -6.0 29.7 18.4 4 13 0.47 20.82  0.3 -6.0 30.2 18.8 4 4 0.10 21.52 1264
1016 Quantum Gold NR -0.4 -6.2 28.6 18.6 12 10 0.78 2183.90 NR - - - - - - - - 129
1017 Quantum Gold Savings  0.4 -6.0 29.4 18.6 6 9 0.21 20.38  0.4 -6.0 29.6 18.7 5 5 0.06 20.47 63
1018 SBI ETF Gold NR -0.3 -6.2 29.0 18.6 9 7 0.50 4504.99 NR - - - - - - - - 1792
1019 SBI Gold  0.9 -5.6 30.7 18.7 - - 0.52 15.79  0.9 -5.5 31.2 19.2 - - 0.12 16.30 822
1020 UTI Gold ETF NR -0.4 -6.4 28.5 18.6 13 8 1.15 4420.63 NR - - - - - - - - 597
CCIL All Sovereign Bond - TRI 1.6 0.5 12.4 9.8
Domestic Price of Gold -0.3 -6.1 29.9 19.8

Performance as on October 31, 2020 AUM and Expense Ratio as on September 30, 2020

Mutual Fund Insight December 2020 73

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
 SCOREBOARD INDEX For more on funds, visit www.valueresearchonline.com
Aditya Birla SL Active Debt Multi Manager FoF,878 Axis Retrmnt Svngs - Dynamic Plan,652 DSP Dynamic Asset Allocation,630 Franklin Dynamic Asset Alloc FoF,632
ABSL Arbitrage,597 Axis Short Term,709 DSP Equal Nifty 50,14 Franklin Eqt Advantage,127
ABSL Asset Allocator MMFoF,624 Axis Small Cap,243 DSP Equity,158 Franklin Eqt Hybrid,491
ABSL Bal Bhavishya Yojna Wealth,148 Axis Strategic Bond,688 DSP Equity Opp,124 Franklin Eqt Savings,579
ABSL Balanced Advantage,625 Axis Treasury Advantage,735 DSP Equity Savings,577 Franklin Equity,162
ABSL Banking & Fin Services,322 Axis Triple Advantage,653 DSP Focus,159 Franklin Feeder Franklin Eur Grth,458
ABSL Banking ETF,323 Axis Ultra Short Term,760 DSP Global Allocation,445 Franklin Feeder Franklin US Opp,459
ABSL Commodity Eqt Global Agri,440 Baroda Banking & Fin Services,324 DSP Healthcare,370 Franklin Floating Rate,967
ABSL Corporate Bond,906 Baroda Conservative Hybrid,539 DSP Liquid ETF,793 Franklin Govt Securities,979
ABSL Credit Risk,927 Baroda Credit Risk,929 DSP Liquidity,794 Franklin Life Stage FoF 20s,492
ABSL Digital India,378 Baroda Dynamic Bond,882 DSP Low Duration,739 Franklin Life Stage FoF 30s,526
ABSL Dynamic Bond,879 Baroda Dynamic Equity,627 DSP Midcap,216 Franklin Life Stage FoF 40s,546
ABSL Eq Hybrid ‘95,480 Baroda Equity Savings,576 DSP Natural Rsrcs and New Energy,422 Franklin Life Stage FoF 50s Plus,547
ABSL Eqt Savings,574 Baroda Gilt,975 DSP Nifty 50 Index,15 Franklin Life Stage FoF 50s Plus FR,548
ABSL Fin Planning FOF Agrsv,649 Baroda Hybrid Equity,484 DSP Nifty Next 50 Index,16 Franklin Liquid,797
ABSL Fin Planning FOF Cons,650 Baroda Large & Mid Cap Fund,121 DSP Overnight,854 Franklin Multi Asset Solution,655
ABSL Fin Planning FOF Moderate Plan,651 Baroda Large Cap,10 DSP Quant,390 Franklin Opportunities,391
ABSL Floating Rate,966 Baroda Liquid,789 DSP Regular Savings,543 Franklin Overnight,856
ABSL Focused Eqt,1 Baroda Midcap,214 DSP Savings,832 Franklin Pension,527
ABSL Frontline Eqt,2 Baroda Money Market,831 DSP Short-term,714 Franklin Prima,218
ABSL Global Emerging Opp,441 Baroda Multi Cap,153 DSP Small Cap,246 Franklin Savings,833
ABSL Global Real Estate,442 Baroda Overnight,850 DSP Strategic Bond,885 Franklin Smaller Companies,248
ABSL Gold,1000 Baroda Short Term Bond,710 DSP T.I.G.E.R.,351 Franklin Taxshield,293
ABSL Gold ETF,1001 Baroda Treasury Advantage,736 DSP Tax Saver,290 Franklin Technology,379
ABSL Index,3 Baroda Ultra Short Duration,761 DSP Top 100 Equity,17 Templeton India Eqt Income,416
ABSL India GenNext,428 BNP Paribas Arbitrage,599 DSP Ultra Short,764 Templeton India Value,281
ABSL Infrastructure,348 BNP Paribas Cons Hybrid,540 DSP US Flexible Equity,446 HDFC Arbitrage,604
ABSL Intl Eqt B,386 BNP Paribas Corporate Bond,909 DSP World Agriculture,447 HDFC Banking ETF,326
ABSL Liquid,787 BNP Paribas Dynamic Eqt,628 DSP World Energy,448 HDFC Capital Builder Value,268
ABSL Low Duration,734 BNP Paribas Flexi Debt,883 DSP World Gold,449 HDFC Children’s Gift,493
ABSL Manufacturing Equity,387 BNP Paribas Focused 25 Eqt,154 DSP World Mining,450 HDFC Corporate Bond,914
ABSL Medium Term,687 BNP Paribas India Consumption,429 Edelweiss Agrsv Hybrid,489 HDFC Credit Risk Debt,932
ABSL Midcap,212 BNP Paribas Large Cap,12 Bhrt Bond ETF - April 2023,689 HDFC Dynamic Debt,887
ABSL Money Manager,829 BNP Paribas Liquid,790 Bhrt Bond ETF - April 2025,690 HDFC Dynamic PE Ratio FOF,656
ABSL Nifty ETF,4 BNP Paribas Long Term Equity,287 Bhrt Bond ETF - April 2030,667 HDFC Equity,164
ABSL Nifty Next 50 ETF,5 BNP Paribas Low Duration,737 Bhrt Bond ETF - April 2031,668 HDFC Equity Savings,580
ABSL Overnight,848 BNP Paribas Medium Term,693 Bhrt Bond FOF - April 2023,691 HDFC Floating Rate Debt,968
ABSL Pharma & Healthcare,369 BNP Paribas Midcap,215 Bhrt Bond FOF - April 2025,692 HDFC Focused 30,165
ABSL PSU Eqt,424 BNP Paribas Multi Cap,155 Bhrt Bond FOF - April 2030,669 HDFC Gold,1004
ABSL Pure Value,267 BNP Paribas Overnight,851 Bhrt Bond FOF - April 2031,670 HDFC Gold ETF,1005
ABSL Regular Savings,535 BNP Paribas Short term,711 Edelweiss Arbitrage,602 HDFC Growth Opportunities,128
ABSL Retirement 30s,150 BNP Paribas Substantial Eqt Hybrid,485 Edelweiss ASEAN Eqt Off Shore,451 HDFC Hybrid Debt,549
ABSL Retirement 40s,481 BOI AXA Arbitrage,600 Edelweiss Balanced Advtg,631 HDFC Hybrid Equity,494
ABSL Retirement 50s,536 BOI AXA Conservative Hybrid,541 Edelweiss Banking and PSU Debt,948 HDFC Index Nifty 50,24
ABSL Retrmnt 50s Plus Debt,907 BOI AXA Credit Risk,930 Edelweiss Corporate Bond,912 HDFC Index Sensex,25
ABSL Savings,759 BOI AXA Eqt Debt Rebalancer,629 Edelweiss Dynamic Bond,886 HDFC Infrastructure,353
ABSL Sensex ETF,6 BOI AXA Large & Midcap Eqt,122 Edelweiss Emrgng Mkt Opp Eqt Offshr,452 HDFC Low Duration,741
ABSL Short Term,708 BOI AXA Liquid,791 Edelweiss Equity Savings,578 HDFC Medium Term Debt,695
ABSL Small Cap,242 BOI AXA Mfg & Infrastructure,349 Edelweiss ETF Nifty 100 Quality 30,18 HDFC Mid-Cap Opportunities,219
Aditya Birla Sun Life Special Opp Fund,388 BOI AXA Mid & Small Cap Eqt & Debt,486 Edelweiss ETF Nifty 50,19 HDFC Money Market,834
Axis All Seasons Debt FOF,880 BOI AXA Multi Cap Fund,156 Edelweiss ETF Nifty Bank,325 HDFC Multi Asset,657
Axis Arbitrage,598 BOI AXA Overnight,852 Edelweiss Eur Dynamic Eqt Offshore,453 HDFC Nifty 50 ETF,26
Axis Banking & PSU Debt,946 BOI AXA Small Cap,244 Edelweiss Govt Securities,978 HDFC Overnight,857
Axis Bluechip,7 BOI AXA ST Income,712 Edelweiss Grtr China Eqt Off-shore,454 HDFC Retrmnt Savings Eqt,166
Axis Children’s Gift,525 BOI AXA Tax Advantage,288 Edelweiss Large & Midcap,125 HDFC Retrmnt Svngs Hybrid Debt,550
Axis Corporate Debt,908 BOI AXA Ultra Short Duration,762 Edelweiss Large Cap,20 HDFC Retrmnt Svngs Hybrid Eqt,495
Axis Credit Risk,928 Canara Robeco Bluechip Eqt,13 Edelweiss Liquid,795 HDFC Sensex ETF,27
Axis Dynamic Bond,881 Canara Robeco Cons Hybrid,542 Edelweiss Low Duration,740 HDFC Short Term Debt,715
Axis Dynamic Equity,626 Canara Robeco Consumer Trends,430 Edelweiss LT Eqt (Tax Svngs),291 HDFC Small Cap,249
Axis Equity Hybrid,482 Canara Robeco Corporate Bond,910 Edelweiss Midcap,217 HDFC Top 100,28
Axis Equity Saver,575 Canara Robeco Dynamic Bond,884 Edelweiss Multi Cap,160 HDFC Ultra Short Term,766
Axis ESG Eqt Fund,389 Canara Robeco Emerging Equities,123 Edelweiss Overnight,855 HSBC Asia Pacific (ExJapan) Div Yld,460
Axis Focused 25,151 Canara Robeco Eqt Diversified,157 Edelweiss Small Cap,247 HSBC Brazil,461
Axis Gilt,974 Canara Robeco Eqt Hybrid,487 Edelweiss US Tech Eqt FOF,455 HSBC Cash,799
Axis Global Eqt Alpha Fund of Fund,444 Canara Robeco Eqt Tax Saver,289 Edelweiss US Value Eqt Offshore,456 HSBC Corporate Bond Fund,915
Axis Gold,1002 Canara Robeco Gilt,976 Essel 3 in 1,654 HSBC Debt,676
Axis Gold ETF,1003 Canara Robeco Income,674 Essel Arbitrage,603 HSBC Equity Hybrid,496
Axis Growth Opportunities,120 Canara Robeco Infrastructure,350 Essel Equity Hybrid,490 HSBC Flexi Debt,888
Axis Liquid,788 Canara Robeco Liquid,792 Essel Large & Midcap,126 HSBC Focused Eqt Fund,167
Axis Long Term Equity,285 Canara Robeco Overnight,853 Essel Large Cap Equity,21 HSBC Global Consumer Opp,462
Axis Midcap,213 Canara Robeco Savings,738 Essel Liquid,796 HSBC Global Emerging Markets,463
Axis Money Market,830 Canara Robeco Short Duration,713 Essel Multi Cap,161 HSBC Infrastructure Eqt,354
Axis Multicap,152 Canara Robeco Small Cap,245 Essel Regular Savings,544 HSBC Large and Midcap Eqt,129
Axis Nifty 100 Index,8 DSP 10Y G-Sec,995 Essel Ultra Short Term,765 HSBC Low Duration,742
Axis Nifty ETF,9 DSP Arbitrage,601 Franklin Asian Equity,457 HSBC Managed Solutions Ind Cons,551
Axis Overnight,849 DSP Banking & PSU Debt,947 Franklin Banking & PSU Debt,949 HSBC Managed Solutions Ind Moderate,658
Axis Regular Saver,537 DSP Bond,694 Franklin Bluechip,22 HSBC Managed Solutions India Growth,497
Axis Retrmnt Svngs - Agrssv Plan,483 DSP Corporate Bond,911 Franklin Build India,352 HSBC Multi Cap Eqt,168
Axis Retrmnt Svngs - Cons Plan,538 DSP Credit Risk,931 Franklin Corporate Debt,913 HSBC Overnight,858

74 Mutual Fund Insight December 2020

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 SCOREBOARD INDEX For more on funds, visit www.valueresearchonline.com
HSBC Regular Savings,552 IDBI Dynamic Bond,890 Invesco India Gold ETF,1011 L&T Hybrid Equity,507
HSBC Short Duration,716 IDBI Eqt Advantage,297 Invesco India Infrastructure,357 L&T India Large Cap,60
HSBC Small Cap Eqt,250 IDBI Eqt Savings,582 Invesco India Large Cap,52 L&T India Value,276
HSBC Tax Saver Eqt,295 IDBI Focused 30 Eqt,42 Invesco India Liquid,806 L&T Infrastructure,359
HSBC Ultra SD,767 IDBI Gilt,982 Invesco India Midcap,223 L&T Large and Midcap,135
ICICI Pru All Seasons Bond,889 IDBI Gold,1008 Invesco India Money Market,838 L&T Low Duration,748
BHARAT 22 ETF,11 IDBI Gold ETF,1009 Invesco India Multicap,179 L&T Midcap,225
ICICI Pru Asset Allocator (FOF),528 IDBI Healthcare,372 Invesco India Nifty ETF,53 L&T Money Market,840
ICICI Pru Balanced Advantage,634 IDBI Hybrid Equity,501 Invesco India Overnight,862 L&T Nifty 50 Index Fund,61
ICICI Pru Bank ETF,327 IDBI India Top 100 Eqt,43 Invesco India PSU Equity,426 L&T Nifty Next 50 Index Fund,62
ICICI Pru Banking & Fin Services,328 IDBI Liquid,802 Invesco India Short Term,722 L&T Overnight,866
ICICI Pru Banking & PSU Debt,951 IDBI Long Term Value,270 Invesco India Small Cap,254 L&T Resurgent India Bond,701
ICICI Pru BHARAT 22 FOF,30 IDBI Midcap,222 Invesco India Tax,300 L&T Short Term Bond,724
ICICI Pru Bharat Consumption,431 IDBI Nifty Index,44 Invesco India Treasury Advtg,745 L&T Tax Advantage,304
ICICI Pru Bluechip,31 IDBI Nifty Junior Index,45 Invesco India Ultra Short Term,772 L&T Triple Ace Bond,920
ICICI Pru Bond,677 IDBI Short Term Bond,718 ITI Arbitrage,609 L&T Ultra Short Term,774
ICICI Pru Child Care Gift,498 IDBI Small Cap,252 ITI Balanced Advtg,637 LIC MF Arbitrage,613
ICICI Pru Commodities,392 IDBI Ultra Short Term,769 ITI Banking & PSU Debt Fund,955 LIC MF Banking & Fin Services,334
ICICI Pru Constant Maturity Gilt,996 IDFC Arbitrage,606 ITI Liquid,807 LIC MF Banking & PSU Debt,958
ICICI Pru Corporate Bond,916 IDFC Asset Allocation Agrsv,557 ITI Long Term Equity,301 LIC MF Children’s Gift,530
ICICI Pru Credit Risk,933 IDFC Asset Allocation Cons,558 ITI Multi Cap,180 LIC MF Debt Hybrid,565
ICICI Pru Debt Management (FOF),678 IDFC Asset Allocation Moderate,559 ITI Overnight,863 LIC MF Equity Hybrid,508
ICICI Pru Dividend Yield Eqt,413 IDFC Banking & PSU Debt,952 ITI Small Cap Fund,255 LIC MF ETF Nifty 100,63
ICICI Pru Equity & Debt,499 IDFC Bond Medium Term,698 JM Arbitrage,610 LIC MF ETF Nifty 50,64
ICICI Pru Equity Arbitrage,605 IDFC Cash,803 JM Core 11,54 LIC MF ETF Sensex,65
ICICI Pru Equity Savings,581 IDFC Core Equity,132 JM Dynamic Debt,894 LIC MF G-Sec Long Term ETF,987
ICICI Pru Exports & Services,393 IDFC Corporate Bond,917 JM Equity Hybrid,505 LIC MF GSF,988
ICICI Pru Floating Interest,969 IDFC Credit Risk,935 JM Income,680 LIC MF Index Nifty,66
ICICI Pru Focused Equity,169 IDFC Dynamic Bond,891 JM Large Cap,55 LIC MF Index Sensex,67
ICICI Pru Gilt,981 IDFC Dynamic Equity,635 JM Liquid,808 LIC MF Infrastructure,360
ICICI Pru Global Advtg (FOF),464 IDFC Emrgng Businesses,253 JM Low Duration,746 LIC MF Large & Midcap,136
ICICI Pru Global Stable Eqt (FOF),465 IDFC Equity Savings,583 JM Multicap,181 LIC MF Large Cap,68
ICICI Pru Gold ETF,1006 IDFC Focused Equity,175 JM Overnight Fund,864 LIC MF Liquid,811
ICICI Pru Infrastructure,355 IDFC Govt Securities Constant Mtrty,997 JM Tax Gain,302 LIC MF Multicap,186
ICICI Pru Large & Midcap,130 IDFC GSF Investment,983 JM Value,274 LIC MF Overnight,867
ICICI Pru Liquid,800 IDFC Hybrid Equity,502 Kotak Asset Allocator,562 LIC MF Savings,749
ICICI Pru Liquid ETF,801 IDFC Infrastructure,356 Kotak Balanced Advantage,638 LIC MF Short Term Debt,725
ICICI Pru Long Term Bond,671 IDFC Large Cap,46 Kotak Banking ETF,332 LIC MF Tax,305
ICICI Pru Manufacture in India,396 IDFC Low Duration,744 Kotak Bond,681 LIC MF ULIS,509
ICICI Pru Medium Term Bond,696 IDFC Money Manager,836 Kotak Bond Short-term,723 LIC MF Ultra ST,775
ICICI Pru Midcap,220 IDFC Multi Cap,176 Kotak Corporate Bond,919 Mahindra Manulife Arbitrage Yojana,614
ICICI Pru Midcap Select ETF,131 IDFC Nifty,47 Kotak Credit Risk,937 Mahindra Manulife Credit Risk,939
ICICI Pru MNC,419 IDFC Nifty ETF,48 Kotak Debt Hybrid,563 Mahindra Manulife ELSS Kar Bcht Yjn,306
ICICI Pru Multi Asset,659 IDFC Overnight,860 Kotak Dynamic Bond,895 Mahindra Manulife Liquid,812
ICICI Pru Multicap,170 IDFC Regular Savings,560 Kotak Emerging Equity,224 Mahindra Manulife Low Duration,750
ICICI Pru Nifty 100 ETF,32 IDFC Sensex ETF,49 Kotak Equity Arbitrage,611 Mahindra Manulife Midcap Unnati Yjn,226
ICICI Pru Nifty ETF,33 IDFC Sterling Value,271 Kotak Equity Hybrid,506 Mahindra Manulife MultiCap Bdht Yjn,187
ICICI Pru Nifty Low Vol 30 ETF,35 IDFC Tax Advantage (ELSS),298 Kotak Equity Opportunities,134 Mahindra Manulife Overnight,868
ICICI Pru Nifty Next 50 ETF,36 IDFC Ultra Short Term,770 Kotak Equity Savings,585 Mahindra Manulife Top 250 Nivsh Yjn,137
ICICI Pru Nifty Next 50 Index,37 IIFL Dynamic Bond,892 Kotak Floating Rate,970 Mahindra Manulife Ultra ST,776
ICICI Pru NV20 ETF,38 IIFL Focused Equity,177 Kotak Focused Equity,182 Mahindra Mnlfe EqtSvgs Dhn Schy Yjn,587
ICICI Pru Pharma Hlthcr & Diagn,371 IIFL Liquid,804 Kotak Global Emerging Market,469 Mahindra Mnlife Rrl Bhrt & Con Yjn,400
ICICI Pru Private Banks ETF,329 Indiabulls Arbitrage,607 Kotak Gold,1012 Mahindra Mnulfe Hybrd Eqt Nivsh Yjn,510
ICICI Pru Regular Gold Svngs (FOF),1007 Indiabulls Banking & PSU Debt,953 Kotak India EQ Contra,275 Mahindra Mnulife Largecap Prgti Yjn,69
ICICI Pru Regular Savings,554 Indiabulls Bluechip,50 Kotak Infra & Eco Reform,358 Mirae Asset Arbtg Fund,615
ICICI Pru Retirement Hybrid Cons,555 Indiabulls Dynamic Bond,893 Kotak Low Duration,747 Mirae Asset Banking And PSU Debt Fund,959
ICICI Pru Retrmnt Hybrid Agrsv,500 Indiabulls Equity Hybrid,503 Kotak Medium Term,700 Mirae Asset Cash Management,813
ICICI Pru Retrmnt Pure Debt,697 Indiabulls Income,699 Kotak Money Market,839 Mirae Asset Dynamic Bond,897
ICICI Pru Retrmnt Pure Eqt,171 Indiabulls Liquid,805 Kotak Nifty ETF,57 Mirae Asset Emerging Bluechip,138
ICICI Pru S&P BSE 500 ETF,172 Indiabulls Nifty 50 ETF,51 Kotak NV 20 ETF,58 Mirae Asset Equity Allocator FoF,70
ICICI Pru Savings,743 Indiabulls Overnight,861 Kotak Overnight,865 Mirae Asset Equity Savings,588
ICICI Pru Sensex ETF,39 Indiabulls Savings,837 Kotak Pioneer,398 Mirae Asset Focused,188
ICICI Pru Sensex Index,40 Indiabulls Short Term,721 Kotak PSU Bank ETF,333 Mirae Asset Great Consumer,432
ICICI Pru Short Term,717 Indiabulls Tax Savings,299 Kotak Savings,773 Mirae Asset Healthcare,373
ICICI Pru Small Cap,251 Indiabulls Ultra Short Term,771 Kotak Sensex ETF,59 Mirae Asset Hybrid Equity,511
ICICI Pru Technology,380 Indiabulls Value,272 Kotak Small Cap,256 Mirae Asset Large Cap,71
ICICI Pru Thematic Advtg (FOF),556 Invesco (I) Feeder Global Eqt Incm,467 Kotak Standard Multicap,183 Mirae Asset Midcap,227
ICICI Pru Ultra Short Term,768 Invesco India Arbitrage,608 Kotak Tax Saver,303 Mirae Asset Nifty 50 ETF,72
ICICI Pru US Bluechip Eqt,466 Invesco India Banking & PSU Debt,954 L&T Arbitrage Opportunities,612 Mirae Asset Nifty Next 50 ETF,73
ICICI Pru Value Discovery,269 Invesco India Contra,273 L&T Balanced Advantage,639 Mirae Asset Overnight,869
ICICI Prudential Alpha Low Vol 30 ETF,41 Invesco India Corporate Bond,918 L&T Banking & PSU Debt,957 Mirae Asset Savings,751
ICICI Prudential ESG Fund,397 Invesco India Credit Risk,936 L&T Business Cycles,399 Mirae Asset Short Term,726
ICICI Prudential India Eqt FOF,173 Invesco India Dynamic Equity,636 L&T Conservative Hybrid,564 Mirae Asset Tax Saver,307
ICICI Prudential IT ETF,381 Invesco India Equity & Bond,504 L&T Credit Risk,938 Mirae Asset Ultra SD Fund,777
ICICI Prudential Midcap 150 ETF,221 Invesco India Equity Savings,584 L&T Emerging Businesses,257 Motilal Oswal Dynamic,640
ICICI Prudential Money Market,835 Invesco India Feeder Pan Eur Eqt,468 L&T Equity,184 Motilal Oswal Equity Hybrid,512
IDBI Banking & Fin Services,330 Invesco India Financial Services,331 L&T Equity Savings,586 Motilal Oswal Focused 25,74
IDBI Credit Risk,934 Invesco India Focused 20 Eqt Fund,178 L&T Flexi Bond,896 Motilal Oswal Large and Midcap,139
IDBI Diversified Eqt,174 Invesco India Gilt,984 L&T Focused Equity,185 Motilal Oswal Liquid,814
IDBI Dividend Yield,414 Invesco India Gold,1010 L&T Gilt,986 Motilal Oswal Long Term Eqt,308

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Motilal Oswal M50 ETF,75 PGIM India Arbitrage,617 SBI ETF Sensex Next 50,100 Tata Resources & Energy,423
Motilal Oswal Midcap 100 ETF,228 PGIM India Banking & PSU Debt,961 SBI Focused Equity,200 Tata Retrmnt Savings Cons,572
Motilal Oswal Midcap 30,229 PGIM India Credit Risk,941 SBI Gold,1019 Tata Retrmnt Svngs Moderate,523
Motilal Oswal Multi Asset Fund,660 PGIM India Diversified Eqt,195 SBI Healthcare Opportunities,375 Tata Retrmnt Svngs Progressive,206
Motilal Oswal Multicap 35,189 PGIM India Dynamic Bond,899 SBI Infrastructure,364 Tata Short-term Bond,732
Motilal Oswal NASDAQ 100 ETF,470 PGIM India Emrgng Markets Eqt Fund,476 SBI Large & Midcap,143 Tata Small Cap,265
Motilal Oswal Nasdaq 100 FOF,471 PGIM India Gilt,991 SBI Liquid,822 Tata Treasury Advantage,757
Motilal Oswal Nifty 50 Index,76 PGIM India Global Eqt Opp,477 SBI Long Term Equity,315 Tata Ultra Short Term,784
Motilal Oswal Nifty 500,190 PGIM India Insta Cash,818 SBI Magnum Children’s Benefit Fund - Inv,519 Tata Young Citizens,532
Motilal Oswal Nifty Bank,335 PGIM India Large Cap,89 SBI Magnum COMMA,405 Taurus Banking & Financial Srvcs,345
Motilal Oswal Nifty Midcap 150,230 PGIM India Long Term Eqt,311 SBI Magnum Equity ESG,406 Taurus Discovery (Midcap),239
Motilal Oswal Nifty Next 50 Index Fund,77 PGIM India Low Duration,753 SBI Magnum Global,420 Taurus Ethical,410
Motilal Oswal Nifty Smallcap 250,258 PGIM India Midcap Opp,233 SBI Magnum Low Duration,755 Taurus Infrastructure,367
Motilal Oswal S&P 500 Index Fund,472 PGIM India Money Market Fund,842 SBI Magnum Medium Duration,703 Taurus Liquid,825
Motilal Oswal Ultra Short Term,778 PGIM India Overnight,871 SBI Magnum Midcap,236 Taurus Nifty Index,110
Nippon India Arbitrage,616 PGIM India Premier Bond,922 SBI Magnum MultiCap,201 Taurus Starshare (Multi Cap),207
CPSE ETF,425 PGIM India Short Maturity,728 SBI Mgnm Chldrn’s Bnfit - Svngs Pln,570 Taurus Tax Shield,319
Nippon India Balanced Advantage,641 PGIM India Ultra ST,780 SBI Multi Asset Allocation,664 Union Arbitrage,622
Nippon India Banking,336 Principal Arbitrage,618 SBI Nifty Index,101 Union Balanced Advantage,647
Nippon India Banking & PSU Debt,960 Principal Balanced Advantage,642 SBI Overnight,872 Union Corporate Bond,925
Nippon India Consumption,433 Principal Dividend Yield,415 SBI PSU,427 Union Dynamic Bond,904
Nippon India Corporate Bond Fund,921 Principal Emerging Bluechip,141 SBI Savings,844 Union Equity Savings,595
Nippon India Dynamic Bond,898 Principal Focused Multicap,196 SBI Short Term Debt,730 Union Focused,208
Nippon India Eqt Svngs Fund,589 Principal Global Opportunities,478 SBI Small Cap,263 Union Large & Midcap,146
Nippon India Equity Hybrid,513 Principal Hybrid Equity,515 Shriram Balanced Advantage,644 Union Large Cap,111
Nippon India ETF Bank BeES,337 Principal Large Cap Fund,90 Shriram Hybrid Equity,520 Union Liquid,826
Nippon India ETF Consumption,434 Principal Low Duration,754 Shriram Long Term Equity,316 Union Long Term Equity,320
Nippon India ETF Dividend Opp,401 Principal Midcap Fund,234 Shriram Multicap,202 Union Medium Duration Fund,706
Nippon India ETF Gold BeES,1014 Principal Nifty 100 Equal Weight,91 Sundaram Arbtg,620 Union Midcap Fund,240
Nippon India ETF Hang Seng BeES,473 Principal Retrmnt Svngs Cons,568 Sundaram Balanced Advtg,645 Union Multi Cap,209
Nippon India ETF Infra BeES,361 Principal Retrmnt Svngs Moderate,531 Sundaram Banking & PSU Debt,963 Union Overnight,875
Nippon India ETF Junior BeES,78 Principal Retrmnt Svngs Prgrsv,516 Sundaram Bluechip Fund,102 Union Small Cap,266
Nippon India ETF Liquid BeES,815 Principal Small Cap,261 Sundaram Corporate Bond,924 Union Value Discovery,282
Nippon India ETF Long Term Gilt,989 Principal Tax Savings,312 Sundaram Debt Oriented Hybrid,571 UTI Arbitrage,623
Nippon India ETF Nifty 100,79 Principal Ultra Short Term,781 Sundaram Diversified Equity,317 UTI Bank Exchange Traded Fund,346
Nippon India ETF Nifty BeES,80 Quant Absolute,517 Sundaram Equity,203 UTI Banking & Fin Services,347
Nippon India ETF Nifty IT,382 Quant Active,198 Sundaram Equity Hybrid,521 UTI Banking & PSU Debt,965
Nippon India ETF Nifty Midcap 150,231 Quant Consumption,435 Sundaram Equity Savings,593 UTI Bond,686
Nippon India ETF NV20,81 Quant Dynamic Bond,900 Sundaram Fin Services Opp,342 UTI Children’s Career Investment,210
Nippon India ETF PSU Bank BeES,338 Quant Focused,92 Sundaram Global Brand,479 UTI Children’s Career Svngs,533
Nippon India ETF Sensex,82 Quant Infrastructure,363 Sundaram Infrastructure Adv,365 UTI Core Equity,147
Nippon India ETF Sensex Next 50,83 Quant Large & Midcap,142 Sundaram Large & Midcap,144 UTI Corporate Bond,926
Nippon India ETF Shariah BeES,84 Quant Liquid,820 Sundaram Low Duration,756 UTI Credit Risk,944
Nippon India Floating Rate,971 Quant Money Market,843 Sundaram Midcap,237 UTI Dividend Yield,417
Nippon India Focused Equity,191 Quant Small Cap,262 Sundaram Money,823 UTI Dynamic Bond,905
Nippon India Gilt Securities Inst,990 Quant Tax,313 Sundaram Money Market,845 UTI Equity,211
Nippon India Gold Savings,1015 Quantum Dynamic Bond,901 Sundaram Rural & Consumption,437 UTI Equity Savings,596
Nippon India Growth,232 Quantum Equity FoF,199 Sundaram Select Focus,103 UTI Floater,972
Nippon India Hybrid Bond,566 Quantum Gold,1016 Sundaram Services,407 UTI Gilt,994
Nippon India Income,683 Quantum Gold Savings,1017 Sundaram Short Term Debt,731 UTI Gold ETF,1020
Nippon India Index Nifty,85 Quantum India ESG Eqt,403 Sundaram Small Cap,264 UTI Healthcare,377
Nippon India Index Sensex,86 Quantum Liquid,821 Sundaram Smart NIFTY 100 Equal Wght,104 UTI Hybrid Equity,524
Nippon India Japan Equity,474 Quantum Long Term Eqt Value,278 Sundaram ST Credit Risk,943 UTI Infrastructure,368
Nippon India Junior BeES FoF,87 Quantum Multi Asset FOFs,663 Sundaram Ultra Short Term,783 UTI Liquid Cash,827
Nippon India Large Cap,88 Quantum Nifty ETF,93 Tata Arbitrage,621 UTI Long Term Equity,321
Nippon India Liquid,816 Quantum Tax Saving,314 Tata Balanced Advantage,646 UTI Medium Term,707
Nippon India Low Duration,752 SBI Arbitrage Opportunities,619 Tata Banking & Fin Services,343 UTI Midcap,241
Nippon India Money Market,841 SBI Banking & Fin Services,339 Tata Banking & PSU Debt,964 UTI MNC,421
Nippon India Multi Asset Fund,661 SBI Banking and PSU,962 Tata Digital India,385 UTI Money Market,847
Nippon India Multi Cap,192 SBI Bluechip,94 Tata Dynamic Bond,903 UTI Multi Asset,666
Nippon India Nifty Smallcap 250 Index Fu,259 SBI Contra,279 Tata Equity PE,280 UTI Nifty ETF,113
Nippon India Nivesh Lakshya,672 SBI Corporate Bond,923 Tata Ethical,408 UTI Nifty Index,114
Nippon India Overnight,870 SBI Credit Risk,942 Tata Focused Eqt,204 UTI Nifty Next 50 ETF,115
Nippon India Pharma,374 SBI Debt Hybrid,569 Tata GSF,993 UTI Nifty Next 50 Index,116
Nippon India Power & Infra,362 SBI Dynamic Asset Allocation,643 Tata Hybrid Equity,522 UTI Overnight,876
Nippon India Quant,402 SBI Dynamic Bond,902 Tata Income,685 UTI Regular Savings,573
Nippon India Retrmnt Incm Generation,567 SBI Equity Hybrid,518 Tata India Consumer,438 UTI Retrmnt Benefit Pension,534
Nippon India Retrmnt Wealth Creation,193 SBI Equity Minimum Variance,404 Tata India Pharma & HealthCare,376 UTI S&P BSE Sensex Next 50 ETF,117
Nippon India Short-term,727 SBI Equity Savings,592 Tata India Tax Savings,318 UTI Sensex ETF,118
Nippon India Small Cap,260 SBI ETF 10 Year Gilt,998 Tata Infrastructure,366 UTI Short-term Income,733
Nippon India Strategic Debt,702 SBI ETF BSE 100,95 Tata Large & Midcap,145 UTI Transportation & Logistics,411
Nippon India Tax Saver (ELSS),309 SBI ETF Gold,1018 Tata Large Cap,107 UTI Ultra Short Term,785
Nippon India Ultra Short Duration,779 SBI ETF IT,383 Tata Liquid,824 UTI Unit Linked Insurance,648
Nippon India US Eqt Opportunities,475 SBI ETF Nifty 50,96 Tata Medium Term,705 UTI Value Opportunities,283
Nippon India Value,277 SBI ETF Nifty Bank,340 Tata Multi Asset Opp Fund,665 YES Liquid,828
Nippon India Vision,140 SBI ETF Nifty Next 50,97 Tata Multicap,205 YES Overnight,877
Parag Parikh Liquid,817 SBI ETF Private Bank,341 Tata Nifty ETF,108 YES Ultra Short Term,786
Parag Parikh Long Term Equity,194 SBI ETF Quality,98 Tata Nifty Private Bank ETF,344
Parag Parikh Tax Saver,310 SBI ETF Sensex,99 Tata Quant Fund,409

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 SCOREBOARD

Performance snapshot
Here are the performance data of the Indian mutual fund industry as of October 2020
REGULAR DIRECT
Category/benchmark 1 mth 3 mths 1 yr 3 yrs 5 yrs 10 yrs 20 yrs 1 mth 3 mths 1 yr 3 yrs 5 yrs
Equity: Large Cap 3.08 4.56 -2.15 3.78 7.88 7.66 13.88 3.17 4.58 -1.95 3.60 8.31
Equity: Large & MidCap 1.51 6.54 -1.00 0.44 7.57 9.35 15.41 1.63 6.64 -0.04 1.64 8.64
Equity: Multi Cap 2.20 5.31 -1.46 1.47 7.31 8.40 15.83 2.29 5.61 -0.34 2.49 8.33
Equity: Mid Cap 0.42 9.89 5.65 0.14 7.46 11.21 17.64 0.52 10.15 6.99 1.45 8.69
Equity: Small Cap -0.01 15.06 9.79 -2.86 7.03 10.09 — 0.09 15.41 11.13 -1.77 8.13
Equity: Value Oriented 2.22 6.23 -1.82 -1.87 6.03 8.66 17.64 2.30 6.48 -0.92 -0.91 7.10
Equity: ELSS 2.33 6.21 -1.16 1.07 7.28 8.77 14.86 2.42 6.51 -0.07 2.12 8.31
Equity: International -0.04 0.11 11.32 7.47 8.63 7.48 — -0.15 0.19 11.26 7.68 9.06
S&P BSE Sensex TRI 4.25 5.67 -0.11 7.33 9.62 8.56 14.35 4.25 5.67 -0.11 7.33 9.62
S&P BSE SENSEX Next 50 TRI 1.14 5.59 -3.64 -4.40 5.62 7.00 — 1.14 5.59 -3.64 -4.40 5.62
S&P BSE 500 TRI 2.60 6.38 0.19 2.94 8.70 8.05 14.48 2.60 6.38 0.19 2.94 8.70
S&P BSE Large Cap TRI 3.17 5.08 -1.34 4.69 8.85 8.03 — 3.17 5.08 -1.34 4.69 8.85
S&P BSE Mid Cap TRI 1.39 8.55 1.39 -2.52 7.48 7.39 — 1.39 8.55 1.39 -2.52 7.48
S&P BSE Small Cap TRI 0.15 14.59 10.97 -4.53 6.58 4.65 — 0.15 14.59 10.97 -4.53 6.58
Equity: Sectoral-Banking 8.60 7.34 -21.51 -5.76 3.64 2.03 — 7.97 8.31 -16.49 -1.57 7.83
S&P BSE Bankex TRI 12.46 11.34 -19.26 -0.83 7.22 7.86 — 12.46 11.34 -19.26 -0.83 7.22
Equity: Sectoral-Infrastructure 1.52 4.30 -11.17 -7.75 2.50 3.09 — 1.58 4.75 -10.68 -7.11 3.42
S&P BSE India Infrastructure TRI 0.74 4.60 -21.50 -14.48 -0.96 0.49 — 0.74 4.60 -21.50 -14.48 -0.96
Equity: Sectoral-Pharma -2.01 7.18 52.00 14.92 4.74 13.91 16.09 -1.90 7.53 54.20 16.26 5.79
S&P BSE Healthcare TRI -2.73 5.43 46.59 11.23 1.92 12.33 14.95 -2.73 5.43 46.59 11.23 1.92
Equity: Sectoral-Technology 4.02 15.97 38.14 23.85 14.08 14.36 12.22 3.52 16.19 39.54 25.17 15.01
S&P BSE IT TRI 6.07 16.15 39.77 29.14 15.60 15.56 11.76 6.07 16.15 39.77 29.14 15.60
Hybrid: Aggressive Hybrid 2.12 4.74 0.71 2.16 6.89 8.40 13.11 2.22 5.05 1.92 3.30 8.03
Hybrid: Balanced Hybrid 2.29 4.18 1.40 2.19 5.56 7.37 10.48 2.36 4.38 2.10 2.93 6.25
Hybrid: Conservative Hybrid 1.47 2.48 3.95 3.85 6.34 7.56 8.65 1.55 2.72 4.89 4.78 7.27
VR Balanced TRI 3.42 4.84 0.53 5.70 8.70 8.06 — 3.42 4.84 0.53 5.70 8.70
VR MIP TRI 1.85 2.17 4.60 6.46 7.71 7.76 — 1.85 2.17 4.60 6.46 7.71
Debt: Long Duration 2.35 0.87 11.85 9.33 9.45 8.86 8.89 2.19 0.68 12.30 9.96 10.23
Debt: Medium Duration 1.36 1.58 6.02 5.90 6.79 7.71 7.38 1.39 1.78 6.81 6.65 7.59
Debt: Short Duration 1.09 1.40 8.69 6.34 7.01 8.02 — 1.15 1.57 9.45 7.08 7.76
Debt: Ultra Short Duration 0.39 1.02 5.51 5.98 6.54 7.97 7.23 0.43 1.14 6.03 6.46 7.04
Debt: Liquid 0.27 0.81 4.47 6.04 6.49 7.75 7.11 0.28 0.83 4.57 6.13 6.58
Debt: Dynamic Bond 1.48 1.20 9.12 7.04 7.65 8.63 7.79 1.53 1.35 9.82 7.79 8.39
Debt: Corporate Bond 1.27 1.54 9.68 7.56 7.76 8.31 7.61 1.31 1.65 10.18 8.05 8.27
Debt: Credit Risk 1.03 2.16 -0.13 0.94 3.75 7.18 — 1.09 2.38 0.69 1.79 4.64
CCIL All Sovereign Bond - TRI 1.57 0.45 12.41 9.78 9.66 9.29 — 1.57 0.45 12.41 9.78 9.66
CCIL T Bill Liquidity Weight 0.23 0.58 3.32 3.96 4.13 4.76 — 0.23 0.58 3.32 3.96 4.13
VR Bond 0.90 0.58 7.30 6.94 7.13 7.57 — 0.90 0.58 7.30 6.94 7.13
Returns (%) as on October 31, 2020

Mutual Fund Insight December 2020 77

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 SCOREBOARD

SIP returns
Worth of the monthly SIP of `10,000 across various time periods
REGULAR DIRECT
3-year 5-year 10-year 3-year 5-year
Return Value Return Value Return Value Return Value Return Value
Rating (%) (` lakh) (%) (` lakh) (%) (` lakh) Rating (%) (` lakh) (%) (` lakh)
Parag Parikh Long Term Equity Equity: Multi Cap  15.47 4.53 14.31 8.58 - -  16.39 4.59 15.14 8.76
Quant Tax Equity: ELSS  15.85 4.55 13.68 8.45 14.34 25.39  17.39 4.65 14.78 8.68
Quant Active Equity: Multi Cap  15.31 4.52 13.59 8.43 14.90 26.15  15.94 4.56 14.08 8.54
Axis Midcap Equity: Mid Cap  11.46 4.27 12.40 8.19 - -  12.91 4.36 13.81 8.48
Mirae Asset Emerging Bluechip Equity: Large & MidCap  9.75 4.17 11.82 8.07 19.19 32.96  10.80 4.23 12.84 8.28
Nippon India ETF Shariah BeES Equity: Large Cap Not rated 13.13 4.38 11.79 8.07 11.14 21.40 Not rated - - - -
IIFL Focused Equity Equity: Multi Cap  12.19 4.32 11.77 8.06 - -  13.78 4.42 13.33 8.38
Nippon India ETF NV20 Equity: Large Cap Not rated 9.10 4.13 11.45 8.00 - - Not rated - - - -
BOI AXA Tax Advantage Equity: ELSS  11.29 4.26 11.40 7.99 12.42 22.91  12.48 4.34 12.74 8.26
Axis Small Cap Equity: Small Cap  11.69 4.29 11.32 7.97 - -  13.27 4.39 12.78 8.27
Quant Absolute Hybrid: Aggressive Hybrid Not rated 13.48 4.40 11.18 7.94 12.14 22.57 Not rated 14.68 4.48 12.08 8.12
Axis Bluechip Equity: Large Cap  9.01 4.12 11.15 7.94 12.39 22.88  10.37 4.21 12.57 8.22
Canara Robeco Eqt Tax Saver Equity: ELSS  10.78 4.23 11.02 7.91 12.01 22.42  11.80 4.29 12.01 8.11
Quant Small Cap Equity: Small Cap Not rated 19.46 4.79 10.89 7.89 8.42 18.53 Not rated 19.87 4.82 11.21 7.95
UTI Equity Equity: Multi Cap  10.98 4.24 10.87 7.88 12.37 22.85  11.60 4.28 11.47 8.00
SBI Small Cap Equity: Small Cap  7.80 4.05 10.75 7.86 19.20 32.97  9.03 4.12 12.06 8.12
Canara Robeco Bluechip Eqt Equity: Large Cap  9.94 4.18 10.65 7.84 11.37 21.66  11.40 4.27 12.05 8.12
PGIM India Diversified Eqt Equity: Multi Cap  11.82 4.29 10.38 7.79 - -  13.85 4.42 12.32 8.17
Canara Robeco Eqt Diversified Equity: Multi Cap  8.86 4.11 10.18 7.75 11.21 21.48  10.05 4.19 11.23 7.96
Axis Focused 25 Equity: Multi Cap  7.00 4.00 10.15 7.74 - -  8.31 4.08 11.54 8.02
PGIM India Midcap Opp Equity: Mid Cap  13.77 4.42 10.00 7.72 - -  15.49 4.53 11.63 8.03
UTI Sensex ETF Equity: Large Cap Not rated 7.09 4.01 9.38 7.60 - - Not rated - - - -
Canara Robeco Eqt Hybrid Hybrid: Aggressive Hybrid  8.88 4.11 9.37 7.60 11.79 22.15  10.14 4.19 10.70 7.85
SBI ETF Sensex Equity: Large Cap Not rated 7.07 4.01 9.34 7.59 - - Not rated - - - -
Nippon India ETF Sensex Equity: Large Cap Not rated 7.06 4.01 9.33 7.59 - - Not rated - - - -
ICICI Pru Sensex ETF Equity: Large Cap Not rated 7.05 4.01 9.28 7.58 10.13 20.28 Not rated - - - -
DSP Midcap Equity: Mid Cap  8.41 4.09 9.14 7.55 14.57 25.70  9.36 4.14 10.11 7.74
Kotak Sensex ETF Equity: Large Cap Not rated 6.84 3.99 9.11 7.55 9.96 20.10 Not rated - - - -
Axis Long Term Equity Equity: ELSS  6.78 3.99 9.08 7.54 14.56 25.69  7.69 4.04 10.13 7.74
Canara Robeco Emerging Equities Equity: Large & MidCap  6.73 3.99 8.97 7.52 16.87 29.09  7.93 4.06 10.30 7.77
HDFC Index Sensex Equity: Large Cap  6.47 3.97 8.80 7.49 9.69 19.82  6.70 3.98 9.01 7.53
Tata Retrmnt Svngs Progressive Equity: Multi Cap  5.77 3.93 8.65 7.46 - -  7.43 4.03 10.33 7.78
Tata Index Sensex Equity: Large Cap  6.33 3.96 8.57 7.44 9.15 19.26  7.04 4.00 9.18 7.56
Motilal Oswal Focused 25 Equity: Large Cap  7.48 4.03 8.40 7.41 - -  8.80 4.11 9.80 7.68
Nippon India Index Sensex Equity: Large Cap  6.25 3.96 8.36 7.41 9.02 19.13  6.85 3.99 9.03 7.53
Quant Midcap Equity: Mid Cap Not rated 9.24 4.14 8.34 7.40 9.07 19.17 Not rated 10.68 4.22 9.37 7.59
Invesco India Midcap Equity: Mid Cap  6.90 4.00 8.32 7.40 14.17 25.16  8.43 4.09 10.04 7.72
Mirae Asset Large Cap Equity: Large Cap  5.29 3.90 8.29 7.39 12.86 23.46  6.40 3.97 9.36 7.59
SBI Focused Equity Equity: Multi Cap  4.90 3.88 8.25 7.39 12.95 23.57  5.96 3.94 9.35 7.59
Invesco India Contra Equity: Value Oriented  4.82 3.87 8.20 7.38 13.08 23.73  6.01 3.94 9.64 7.65
Edelweiss ETF Nifty 50 Equity: Large Cap Not rated 5.54 3.92 8.15 7.37 - - Not rated - - - -
Tata Retrmnt Svngs Moderate Hybrid: Aggressive Hybrid  5.95 3.94 8.11 7.36 - -  7.45 4.03 9.61 7.64
LIC MF Index Sensex Equity: Large Cap  6.13 3.95 8.11 7.36 8.74 18.85  6.57 3.98 8.61 7.45
Taurus Discovery (Midcap) Equity: Mid Cap  6.44 3.97 8.11 7.36 13.19 23.88  6.90 4.00 8.59 7.45
Mirae Asset Hybrid Equity Hybrid: Aggressive Hybrid  6.13 3.95 8.04 7.35 - -  7.77 4.05 9.85 7.69
Data as of October 2020

78 Mutual Fund Insight December 2020

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 REGULAR DIRECT
3-year 5-year 10-year 3-year 5-year
Return Value Return Value Return Value Return Value Return Value
Rating (%) (` lakh) (%) (` lakh) (%) (` lakh) Rating (%) (` lakh) (%) (` lakh)
UTI Nifty ETF Equity: Large Cap Not rated 5.59 3.92 8.02 7.34 - - Not rated - - - -
DSP Equity Equity: Multi Cap  6.05 3.95 8.01 7.34 10.92 21.15  7.00 4.00 8.94 7.51
SBI ETF Nifty 50 Equity: Large Cap Not rated 5.60 3.92 8.01 7.34 - - Not rated - - - -
Nippon India ETF Nifty BeES Equity: Large Cap Not rated 5.65 3.92 7.99 7.34 9.50 19.62 Not rated - - - -
ICICI Pru Nifty ETF Equity: Large Cap Not rated 5.61 3.92 7.98 7.34 - - Not rated - - - -
JM Tax Gain Equity: ELSS  5.50 3.91 7.98 7.34 11.46 21.77  6.27 3.96 8.96 7.52
Invesco India Nifty ETF Equity: Large Cap Not rated 5.57 3.92 7.97 7.33 - - Not rated - - - -
IDFC Nifty Equity: Large Cap  5.71 3.93 7.92 7.33 9.39 19.51  5.86 3.93 8.06 7.35
ABSL Nifty ETF Equity: Large Cap Not rated 5.54 3.92 7.89 7.32 - - Not rated - - - -
Quantum Nifty ETF Equity: Large Cap Not rated 5.53 3.91 7.89 7.32 9.45 19.56 Not rated - - - -
Kotak Equity Opportunities Equity: Large & MidCap  6.25 3.96 7.84 7.31 11.62 21.95  7.40 4.03 9.13 7.55
Kotak Small Cap Equity: Small Cap  8.80 4.11 7.84 7.31 13.15 23.82  10.19 4.19 9.31 7.58
Kotak Nifty ETF Equity: Large Cap Not rated 5.51 3.91 7.82 7.31 9.22 19.33 Not rated - - - -
UTI Nifty Index Equity: Large Cap  5.39 3.91 7.73 7.29 9.14 19.25  5.46 3.91 7.81 7.31
Edelweiss Large Cap Equity: Large Cap  5.68 3.92 7.71 7.29 10.42 20.60  7.18 4.01 9.04 7.53
Kotak India EQ Contra Equity: Value Oriented  4.49 3.85 7.70 7.29 10.35 20.52  5.89 3.94 9.27 7.58
IDFC Focused Equity Equity: Multi Cap  5.32 3.90 7.69 7.28 8.69 18.80  6.71 3.98 9.30 7.58
Invesco India Tax Equity: ELSS  5.28 3.90 7.68 7.28 12.22 22.66  6.59 3.98 9.20 7.56
BNP Paribas Large Cap Equity: Large Cap  6.71 3.98 7.65 7.28 10.95 21.18  7.93 4.06 8.98 7.52
IDFC Large Cap Equity: Large Cap  6.11 3.95 7.62 7.27 8.73 18.83  7.13 4.01 8.74 7.48
Invesco India Growth Opp Equity: Large & MidCap  4.36 3.85 7.60 7.27 11.29 21.58  5.60 3.92 9.09 7.54
DSP Equity & Bond Hybrid: Aggressive Hybrid  6.68 3.98 7.58 7.26 10.54 20.73  7.72 4.04 8.70 7.47
LIC MF Large & Midcap Equity: Large & MidCap  4.74 3.87 7.57 7.26 - -  6.25 3.96 9.21 7.56
HDFC Index Nifty 50 Equity: Large Cap  5.13 3.89 7.52 7.25 9.07 19.18  5.32 3.90 7.72 7.29
Tata Midcap Growth Equity: Mid Cap  6.75 3.99 7.48 7.25 13.65 24.46  8.06 4.07 8.68 7.47
Kotak Tax Saver Equity: ELSS  5.91 3.94 7.48 7.24 10.79 21.01  7.16 4.01 8.83 7.49
Union Multi Cap Equity: Multi Cap  7.24 4.02 7.47 7.24 - -  7.97 4.06 8.20 7.38
Motilal Oswal M50 ETF Equity: Large Cap Not rated 5.40 3.91 7.46 7.24 8.60 18.71 Not rated - - - -
Kotak Emerging Equity Equity: Mid Cap  6.09 3.95 7.42 7.23 14.51 25.61  7.37 4.02 8.80 7.49
HDFC Children’s Gift Hybrid: Aggressive Hybrid  5.62 3.92 7.41 7.23 11.33 21.62  6.53 3.97 8.40 7.41
Principal Emerging Bluechip Equity: Large & MidCap  4.60 3.86 7.35 7.22 14.87 26.12  5.74 3.93 8.57 7.44
SBI ETF BSE 100 Equity: Large Cap Not rated 4.75 3.87 7.34 7.22 - - Not rated - - - -
Principal Focused Multicap Equity: Multi Cap  5.57 3.92 7.34 7.22 9.99 20.13  6.35 3.96 8.15 7.37
BNP Paribas Long Term Equity Equity: ELSS  6.76 3.99 7.31 7.21 11.29 21.57  8.00 4.06 8.53 7.44
Kotak Bluechip Equity: Large Cap  6.43 3.97 7.29 7.21 9.95 20.10  7.60 4.04 8.57 7.45
Edelweiss Large & Midcap Equity: Large & MidCap  5.21 3.90 7.28 7.21 10.21 20.37  6.77 3.99 8.69 7.47
Tata Index Nifty Equity: Large Cap  4.96 3.88 7.27 7.21 8.60 18.71  5.48 3.91 7.77 7.30
Taurus Nifty Index Equity: Large Cap Not rated 5.17 3.89 7.26 7.20 8.44 18.55 Not rated 5.43 3.91 7.78 7.30
ICICI Pru Nifty Index Equity: Large Cap  5.00 3.88 7.19 7.19 8.80 18.90  5.41 3.91 7.62 7.27
Taurus Tax Shield Equity: ELSS  4.11 3.83 7.18 7.19 9.58 19.70  4.88 3.88 7.95 7.33
Sundaram Select Focus Equity: Large Cap  3.97 3.82 7.17 7.19 8.78 18.89  4.96 3.88 8.25 7.39
ICICI Pru Nifty 100 ETF Equity: Large Cap Not rated 4.64 3.86 7.16 7.19 - - Not rated - - - -
SBI Nifty Index Equity: Large Cap  4.66 3.86 7.05 7.17 8.45 18.56  5.10 3.89 7.52 7.25
Kotak Equity Hybrid Hybrid: Aggressive Hybrid  6.92 4.00 7.01 7.16 8.98 19.08  8.23 4.08 8.43 7.42
SBI Equity Hybrid Hybrid: Aggressive Hybrid  4.95 3.88 7.00 7.16 11.26 21.54  5.68 3.92 7.89 7.32
ABSL Index Equity: Large Cap  4.84 3.87 6.97 7.15 8.39 18.50  5.03 3.89 7.19 7.19
Edelweiss Midcap Equity: Mid Cap  5.26 3.90 6.88 7.14 14.16 25.14  6.84 3.99 8.31 7.40
UTI Mastershare Equity: Large Cap  5.20 3.90 6.84 7.13 9.48 19.60  6.08 3.95 7.74 7.29
HSBC Large Cap Eqt Equity: Large Cap  4.74 3.87 6.81 7.13 8.82 18.93  5.65 3.92 7.71 7.29
Data as of October 2020

Mutual Fund Insight December 2020 79

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 SCOREBOARD
REGULAR DIRECT
3-year 5-year 10-year 3-year 5-year
Return Value Return Value Return Value Return Value Return Value
Rating (%) (` lakh) (%) (` lakh) (%) (` lakh) Rating (%) (` lakh) (%) (` lakh)
LIC MF Index Nifty Equity: Large Cap  4.69 3.87 6.78 7.12 8.24 18.36  5.17 3.89 7.29 7.21
Nippon India Index Nifty Equity: Large Cap  4.44 3.85 6.76 7.12 8.43 18.54  5.35 3.90 7.62 7.27
Tata Large & Midcap Equity: Large & MidCap  5.71 3.93 6.76 7.11 10.69 20.90  6.07 3.95 7.62 7.27
Kotak Standard Multicap Equity: Multi Cap  3.73 3.81 6.75 7.11 12.16 22.60  4.73 3.87 7.88 7.32
Franklin Index NSE Nifty Equity: Large Cap  4.52 3.86 6.75 7.11 8.36 18.47  5.00 3.88 7.24 7.20
Nippon India Small Cap Equity: Small Cap  3.73 3.81 6.74 7.11 16.45 28.43  4.62 3.86 7.84 7.31
Union Long Term Equity Equity: ELSS  6.65 3.98 6.56 7.08 - -  7.13 4.01 7.16 7.19
IDBI Nifty Index Equity: Large Cap  4.54 3.86 6.55 7.08 7.99 18.12  5.43 3.91 7.62 7.27
Nippon India Growth Equity: Mid Cap  4.87 3.88 6.50 7.07 10.66 20.86  5.54 3.92 7.23 7.20
Nippon India ETF Nifty 100 Equity: Large Cap Not rated 3.90 3.82 6.46 7.06 - - Not rated - - - -
DSP Tax Saver Equity: ELSS  4.05 3.83 6.46 7.06 11.77 22.13  5.04 3.89 7.56 7.26
Invesco India Large Cap Equity: Large Cap  4.58 3.86 6.39 7.05 9.67 19.80  6.00 3.94 8.03 7.35
Sundaram Equity Hybrid Hybrid: Aggressive Hybrid  4.02 3.83 6.37 7.05 7.81 17.95  5.16 3.89 7.60 7.27
UTI Value Opportunities Equity: Value Oriented  4.99 3.88 6.31 7.04 8.56 18.67  5.67 3.92 7.05 7.17
UTI Midcap Equity: Mid Cap  6.79 3.99 6.27 7.03 13.54 24.32  7.67 4.04 7.21 7.20
Edelweiss Multi Cap Equity: Multi Cap  2.55 3.74 6.27 7.03 - -  4.29 3.84 7.81 7.31
Union Small Cap Equity: Small Cap  7.96 4.06 6.15 7.01 - -  8.66 4.10 6.92 7.14
Principal Hybrid Equity Hybrid: Aggressive Hybrid  2.58 3.74 6.15 7.01 10.12 20.27  3.81 3.82 7.47 7.24
JM Large Cap Equity: Large Cap  5.64 3.92 6.14 7.01 8.15 18.27  6.71 3.98 7.27 7.21
L&T Midcap Equity: Mid Cap  3.11 3.77 6.13 7.00 14.12 25.09  4.24 3.84 7.28 7.21
UTI Long Term Equity Equity: ELSS  4.72 3.87 6.11 7.00 9.18 19.29  5.63 3.92 7.06 7.17
HSBC Managed Solutions India Growth Hybrid: Aggressive Hybrid  4.66 3.86 6.10 7.00 - -  5.00 3.88 6.43 7.06
LIC MF Large Cap Equity: Large Cap  4.42 3.85 6.07 6.99 8.59 18.69  5.46 3.91 7.19 7.19
Baroda Midcap Equity: Mid Cap  5.82 3.93 6.05 6.99 4.20 14.87  6.68 3.98 6.97 7.15
Tata India Tax Savings Equity: ELSS  2.85 3.76 5.96 6.97 11.50 21.82  4.33 3.85 7.45 7.24
ABSL Equity Equity: Multi Cap  3.32 3.79 5.96 6.97 11.71 22.06  4.25 3.84 7.02 7.16
UTI Children’s Career Investment Equity: Multi Cap  3.30 3.79 5.91 6.97 9.27 19.38  4.22 3.84 6.85 7.13
Tata Equity PE Equity: Value Oriented  2.34 3.73 5.87 6.96 11.86 22.24  3.72 3.81 7.22 7.20
ABSL Focused Eqt Equity: Large Cap  3.93 3.82 5.78 6.94 10.28 20.45  4.87 3.88 6.86 7.13
Sundaram Large & Midcap Equity: Large & MidCap  1.60 3.69 5.76 6.94 10.14 20.29  2.78 3.76 6.95 7.15
ABSL Tax Relief 96 Equity: ELSS  2.19 3.72 5.74 6.94 11.70 22.05  3.19 3.78 6.84 7.13
DSP Small Cap Equity: Small Cap  7.02 4.00 5.73 6.93 15.17 26.54  7.84 4.05 6.47 7.06
ICICI Pru Bluechip Equity: Large Cap  2.54 3.74 5.71 6.93 9.76 19.89  3.23 3.78 6.56 7.08
LIC MF Tax Equity: ELSS  2.57 3.74 5.69 6.93 9.29 19.40  3.74 3.81 6.93 7.15
L&T India Large Cap Equity: Large Cap  3.87 3.82 5.66 6.92 8.81 18.92  4.76 3.87 6.55 7.08
PGIM India Large Cap Equity: Large Cap  4.11 3.83 5.65 6.92 9.00 19.11  5.52 3.91 7.19 7.19
IDBI India Top 100 Eqt Equity: Large Cap  5.33 3.90 5.62 6.91 - -  6.67 3.98 7.13 7.18
DSP Equity Opp Equity: Large & MidCap  2.68 3.75 5.61 6.91 10.75 20.97  3.65 3.81 6.69 7.10
Quant Large & Midcap Equity: Large & MidCap Not rated 3.71 3.81 5.59 6.91 12.13 22.56 Not rated 3.97 3.82 5.83 6.95
Quant Focused Equity: Large Cap Not rated 3.61 3.80 5.52 6.90 12.33 22.81 Not rated 4.89 3.88 6.47 7.06
L&T Hybrid Equity Hybrid: Aggressive Hybrid  4.21 3.84 5.49 6.89 - -  5.28 3.90 6.61 7.09
Shriram Hybrid Equity Hybrid: Aggressive Hybrid  4.07 3.83 5.42 6.88 - -  5.55 3.92 6.70 7.10
DSP Focus Equity: Multi Cap  3.79 3.81 5.31 6.86 9.30 19.41  4.85 3.88 6.32 7.04
Edelweiss Agrsv Hybrid Hybrid: Aggressive Hybrid Not rated 3.57 3.80 5.24 6.85 8.03 18.16 Not rated 5.07 3.89 6.50 7.07
Principal Tax Savings Equity: ELSS  1.65 3.69 5.19 6.84 10.84 21.06  2.20 3.72 5.77 6.94
BNP Paribas Midcap Equity: Mid Cap  4.57 3.86 5.18 6.84 12.73 23.30  6.03 3.94 6.77 7.12
SBI Magnum MultiCap Equity: Multi Cap  2.04 3.71 5.16 6.84 11.24 21.52  3.00 3.77 6.26 7.03
Baroda Large Cap Equity: Large Cap  3.63 3.80 5.09 6.82 6.96 17.17  4.32 3.84 5.87 6.96
L&T Large and Midcap Equity: Large & MidCap  2.93 3.76 5.08 6.82 9.91 20.05  3.78 3.81 5.96 6.97
Principal Multi Cap Growth Equity: Multi Cap  1.17 3.66 5.05 6.82 10.78 21.00  2.03 3.71 5.99 6.98
Data as of October 2020
80 Mutual Fund Insight December 2020

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 REGULAR DIRECT
3-year 5-year 10-year 3-year 5-year
Return Value Return Value Return Value Return Value Return Value
Rating (%) (` lakh) (%) (` lakh) (%) (` lakh) Rating (%) (` lakh) (%) (` lakh)
LIC MF Equity Hybrid Hybrid: Aggressive Hybrid  4.02 3.83 5.01 6.81 6.69 16.92  5.18 3.89 6.26 7.03
SBI Bluechip Equity: Large Cap  3.01 3.77 4.99 6.81 10.44 20.62  3.82 3.82 5.95 6.97
SBI Large & Midcap Equity: Large & MidCap  2.20 3.72 4.97 6.80 10.63 20.83  2.88 3.76 5.69 6.93
JM Multicap Equity: Multi Cap  0.61 3.63 4.90 6.79 9.76 19.89  1.39 3.68 5.88 6.96
ICICI Pru Focused Equity Equity: Multi Cap  3.18 3.78 4.88 6.79 8.16 18.28  4.24 3.84 6.02 6.99
IDBI Diversified Eqt Equity: Multi Cap  3.59 3.80 4.87 6.79 - -  5.10 3.89 6.58 7.08
L&T Tax Advantage Equity: ELSS  1.66 3.69 4.80 6.77 9.64 19.77  2.24 3.73 5.49 6.89
Nippon India Value Equity: Value Oriented  1.90 3.71 4.79 6.77 9.59 19.72  2.55 3.74 5.53 6.90
ABSL Eqt Advantage Equity: Large & MidCap  3.24 3.78 4.79 6.77 10.89 21.12  4.21 3.84 5.91 6.97
Indiabulls Bluechip Equity: Large Cap  1.43 3.68 4.76 6.77 - -  2.95 3.77 6.43 7.06
JM Equity Hybrid Hybrid: Aggressive Hybrid  5.50 3.91 4.74 6.76 7.26 17.44  6.46 3.97 5.58 6.91
Motilal Oswal Multicap 35 Equity: Multi Cap  1.13 3.66 4.71 6.76 - -  2.06 3.72 5.71 6.93
Franklin Eqt Hybrid Hybrid: Aggressive Hybrid  3.28 3.78 4.62 6.74 9.28 19.39  4.36 3.85 5.87 6.96
HDFC Mid-Cap Opportunities Equity: Mid Cap  2.21 3.72 4.62 6.74 12.81 23.39  2.95 3.77 5.52 6.90
LIC MF ULIS Hybrid: Aggressive Hybrid  2.26 3.73 4.58 6.74 6.80 17.02  3.20 3.78 5.64 6.92
L&T Equity Equity: Multi Cap  2.31 3.73 4.57 6.74 8.87 18.97  3.01 3.77 5.33 6.86
IDFC Tax Advantage (ELSS) Equity: ELSS  0.86 3.65 4.56 6.73 10.39 20.57  1.97 3.71 5.80 6.95
IDFC Core Equity Equity: Large & MidCap  1.63 3.69 4.54 6.73 8.37 18.48  2.84 3.76 5.99 6.98
BOI AXA Large & Midcap Eqt Equity: Large & MidCap  3.00 3.77 4.52 6.73 7.63 17.78  4.18 3.84 5.79 6.94
ICICI Pru Value Discovery Equity: Value Oriented  3.69 3.81 4.50 6.72 11.25 21.53  4.31 3.84 5.30 6.86
JM Value Equity: Value Oriented Not rated 0.65 3.64 4.50 6.72 9.76 19.89 Not rated 1.29 3.67 5.34 6.87
Motilal Oswal Long Term Eqt Equity: ELSS  -0.36 3.58 4.44 6.71 - -  0.95 3.65 5.90 6.96
Essel Large Cap Equity Equity: Large Cap  2.18 3.72 4.43 6.71 - -  3.79 3.81 6.01 6.98
Invesco India Multicap Equity: Multi Cap Not rated 1.96 3.71 4.39 6.70 12.09 22.51 Not rated 3.31 3.79 5.96 6.97
ICICI Pru LT Eqt (Tax Saving) Equity: ELSS  1.77 3.70 4.36 6.70 9.82 19.95  2.54 3.74 5.32 6.86
ABSL Frontline Eqt Equity: Large Cap  1.90 3.71 4.33 6.69 9.39 19.50  2.62 3.75 5.20 6.84
DSP Top 100 Equity Equity: Large Cap  2.30 3.73 4.28 6.69 7.44 17.60  3.04 3.77 5.04 6.81
ICICI Pru Small Cap Equity: Small Cap  3.99 3.83 4.26 6.68 8.77 18.87  5.27 3.90 5.34 6.87
Franklin Prima Equity: Mid Cap  1.83 3.70 4.23 6.68 12.76 23.33  2.71 3.75 5.22 6.85
BNP Paribas Multi Cap Equity: Multi Cap  1.44 3.68 4.20 6.67 9.72 19.85  2.83 3.76 5.79 6.94
SBI ETF Nifty Next 50 Equity: Large Cap Not rated 0.37 3.62 4.18 6.67 - - Not rated - - - -
Baroda Multi Cap Equity: Multi Cap  2.61 3.75 4.14 6.66 7.59 17.74  3.43 3.79 5.05 6.82
LIC MF Multicap Equity: Multi Cap  2.78 3.76 4.13 6.66 6.38 16.65  3.57 3.80 4.98 6.80
Nippon India ETF Junior BeES Equity: Large Cap Not rated 0.43 3.62 4.11 6.66 10.17 20.33 Not rated - - - -
ICICI Pru Child Care Gift Hybrid: Aggressive Hybrid  1.61 3.69 4.08 6.65 9.18 19.29  2.36 3.73 4.90 6.79
L&T India Value Equity: Value Oriented  1.42 3.68 4.08 6.65 12.39 22.87  2.37 3.73 5.06 6.82
SBI Long Term Equity Equity: ELSS  2.61 3.75 4.03 6.64 8.72 18.82  3.24 3.78 4.71 6.76
Edelweiss LT Eqt (Tax Svngs) Equity: ELSS  1.82 3.70 4.02 6.64 8.80 18.90  3.51 3.80 5.62 6.91
PGIM India Hybrid Eqt Hybrid: Aggressive Hybrid  3.25 3.78 4.00 6.64 7.02 17.22  4.83 3.87 5.57 6.91
HSBC Multi Cap Eqt Equity: Multi Cap  1.85 3.70 3.96 6.63 9.13 19.24  2.89 3.76 4.95 6.80
Baroda Hybrid Equity Hybrid: Aggressive Hybrid  2.37 3.73 3.96 6.63 7.08 17.27  3.19 3.78 5.04 6.82
ICICI Pru Midcap Equity: Mid Cap  1.26 3.67 3.75 6.60 11.52 21.83  2.20 3.72 4.81 6.78
HSBC Tax Saver Eqt Equity: ELSS  0.72 3.64 3.58 6.57 9.14 19.25  1.83 3.70 4.62 6.74
HDFC Hybrid Equity Hybrid: Aggressive Hybrid  1.53 3.69 3.52 6.56 6.96 17.17  2.22 3.72 4.26 6.68
Tata Large Cap Equity: Large Cap  0.75 3.64 3.51 6.56 7.61 17.76  1.69 3.69 4.73 6.76
HDFC Capital Builder Value Equity: Value Oriented  -0.47 3.57 3.37 6.53 9.37 19.48  0.50 3.63 4.50 6.72
SBI Magnum Midcap Equity: Mid Cap  3.94 3.82 3.35 6.53 12.17 22.61  4.83 3.87 4.34 6.70
IDBI Eqt Advantage Equity: ELSS  0.30 3.62 3.34 6.53 - -  1.61 3.69 4.85 6.78
ICICI Pru Nifty Next 50 Index Equity: Large Cap  -0.52 3.57 3.29 6.52 9.47 19.59  -0.11 3.59 3.73 6.59
Tata Hybrid Equity Hybrid: Aggressive Hybrid  1.89 3.71 3.22 6.51 8.81 18.91  3.05 3.77 4.47 6.72
Data as of October 2020
Mutual Fund Insight December 2020 81
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 SCOREBOARD
REGULAR DIRECT
3-year 5-year 10-year 3-year 5-year
Return Value Return Value Return Value Return Value Return Value
Rating (%) (` lakh) (%) (` lakh) (%) (` lakh) Rating (%) (` lakh) (%) (` lakh)
ABSL Eq Hybrid ‘95 Hybrid: Aggressive Hybrid  1.22 3.67 3.19 6.51 8.61 18.72  2.00 3.71 4.17 6.67
Baroda ELSS 96 Equity: ELSS  1.71 3.70 3.13 6.49 7.24 17.42  2.43 3.74 3.97 6.63
Taurus Largecap Equity Equity: Large Cap  2.01 3.71 3.09 6.49 6.05 16.37  2.28 3.73 3.54 6.56
SBI Contra Equity: Value Oriented  1.94 3.71 2.99 6.47 6.95 17.15  2.53 3.74 3.64 6.58
ICICI Pru Equity & Debt Hybrid: Aggressive Hybrid  -1.29 3.53 2.88 6.45 9.34 19.46  -0.63 3.56 3.84 6.61
UTI Hybrid Equity Hybrid: Aggressive Hybrid  0.59 3.63 2.87 6.45 7.12 17.31  1.33 3.67 3.63 6.58
HDFC Small Cap Equity: Small Cap  -3.04 3.43 2.80 6.44 9.96 20.10  -2.01 3.49 4.07 6.65
Franklin Equity Equity: Multi Cap  0.43 3.62 2.79 6.44 9.16 19.27  1.24 3.67 3.74 6.60
Nippon India Focused Equity Equity: Multi Cap  -0.44 3.58 2.77 6.44 11.07 21.32  0.23 3.61 3.60 6.57
IDBI Nifty Junior Index Equity: Large Cap  -0.90 3.55 2.69 6.42 8.84 18.95  -0.28 3.58 3.58 6.57
Motilal Oswal Midcap 30 Equity: Mid Cap  1.69 3.69 2.65 6.42 - -  2.87 3.76 3.92 6.63
HDFC Growth Opportunities Equity: Large & MidCap  -0.29 3.58 2.54 6.40 5.54 15.94  -0.06 3.60 2.74 6.43
ICICI Pru Multicap Equity: Multi Cap  -1.39 3.52 2.48 6.39 8.91 19.02  -0.44 3.58 3.57 6.57
JM Core 11 Equity: Large Cap  -3.43 3.41 2.42 6.38 8.43 18.55  -1.89 3.50 4.00 6.64
IDFC Multi Cap Equity: Multi Cap  -0.41 3.58 2.36 6.37 9.48 19.60  0.27 3.61 3.11 6.49
Franklin Focused Eqt Equity: Multi Cap  -1.62 3.51 2.32 6.36 10.71 20.92  -0.72 3.56 3.37 6.53
ICICI Pru Large & Midcap Equity: Large & MidCap  -0.95 3.55 2.29 6.36 7.63 17.78  -0.13 3.59 3.30 6.52
L&T Emerging Businesses Equity: Small Cap  -3.33 3.42 2.29 6.36 - -  -2.32 3.47 3.37 6.53
Motilal Oswal Midcap 100 ETF Equity: Mid Cap Not rated 0.29 3.62 2.28 6.36 - - Not rated - - - -
Franklin Bluechip Equity: Large Cap  -0.19 3.59 2.27 6.36 6.91 17.12  0.57 3.63 3.12 6.49
HDFC Top 100 Equity: Large Cap  -2.83 3.45 2.14 6.33 7.23 17.41  -2.24 3.48 2.84 6.45
Principal Nifty 100 Equal Weight Equity: Large Cap  -0.58 3.57 2.10 6.33 5.57 15.97  -0.35 3.58 2.43 6.38
Nippon India Large Cap Equity: Large Cap  -3.63 3.40 1.81 6.28 8.35 18.47  -2.76 3.45 2.84 6.45
Sundaram Diversified Equity Equity: ELSS  -1.55 3.51 1.81 6.28 7.68 17.82  -1.17 3.54 2.28 6.36
Nippon India Vision Equity: Large & MidCap  -0.04 3.60 1.77 6.28 6.75 16.98  0.48 3.63 2.38 6.37
IDFC Sterling Value Equity: Value Oriented  -2.77 3.45 1.49 6.23 8.56 18.67  -1.76 3.50 2.62 6.41
Franklin Taxshield Equity: ELSS  -1.78 3.50 1.41 6.22 8.38 18.49  -0.85 3.55 2.43 6.38
UTI Core Equity Equity: Large & MidCap  -1.52 3.52 1.34 6.21 6.48 16.74  -1.06 3.54 1.87 6.29
HSBC Small Cap Eqt Equity: Small Cap  0.01 3.60 1.24 6.19 9.46 19.58  1.17 3.66 2.32 6.36
Franklin Life Stage FoF 20s Hybrid: Aggressive Hybrid  -1.89 3.50 1.14 6.18 6.61 16.85  -1.27 3.53 1.71 6.27
HDFC Equity Equity: Multi Cap  -4.50 3.36 1.01 6.16 7.09 17.28  -3.90 3.39 1.77 6.28
Franklin Eqt Advantage Equity: Large & MidCap  -1.93 3.49 0.91 6.14 7.61 17.76  -1.11 3.54 1.77 6.27
Taurus Starshare (Multi Cap) Equity: Multi Cap  -1.88 3.50 0.86 6.13 5.46 15.87  -1.76 3.50 1.06 6.16
Sundaram Midcap Equity: Mid Cap  -2.53 3.46 0.67 6.10 10.43 20.61  -1.79 3.50 1.44 6.22
ABSL Midcap Equity: Mid Cap  -1.87 3.50 0.65 6.10 9.06 19.17  -1.00 3.54 1.59 6.25
HDFC Taxsaver Equity: ELSS  -4.10 3.38 0.27 6.04 6.41 16.68  -3.52 3.41 0.94 6.14
Sundaram Small Cap Equity: Small Cap  -0.60 3.57 -0.01 6.00 9.39 19.51  0.25 3.61 0.81 6.13
Franklin Smaller Companies Equity: Small Cap  -3.09 3.43 -0.27 5.96 11.62 21.95  -2.21 3.48 0.80 6.12
Indiabulls Value Equity: Value Oriented  -1.88 3.50 -0.29 5.96 - -  -0.40 3.58 1.41 6.22
Templeton India Value Equity: Value Oriented  -4.78 3.34 -0.70 5.89 5.88 16.22  -4.23 3.37 -0.15 5.98
ABSL Small Cap Equity: Small Cap  -3.37 3.42 -0.72 5.89 9.05 19.16  -2.30 3.47 0.46 6.07
Nippon India Retrmnt Wealth Creation Equity: Multi Cap  -5.79 3.29 -1.10 5.83 - -  -4.84 3.34 0.03 6.00
Nippon India Multi Cap Equity: Multi Cap  -6.78 3.24 -1.33 5.80 6.37 16.64  -6.13 3.27 -0.58 5.91
HDFC Focused 30 Equity: Multi Cap  -6.62 3.25 -2.05 5.70 4.74 15.29  -5.77 3.29 -1.04 5.84
ABSL Pure Value Equity: Value Oriented  -6.45 3.25 -2.59 5.62 8.88 18.98  -5.45 3.31 -1.45 5.78
Nippon India Equity Hybrid Hybrid: Aggressive Hybrid  -8.13 3.17 -2.96 5.56 5.34 15.77  -7.36 3.21 -1.89 5.72
Nippon India Tax Saver (ELSS) Equity: ELSS  -8.23 3.16 -4.20 5.39 5.89 16.23  -7.58 3.20 -3.41 5.50
Data as of October 2020

82 Mutual Fund Insight December 2020

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 Value Research pioneered mutual fund ratings way back in 1993 to enable
investors make the right pick. The lowest rating is one star and the highest
TOP-RATED is five stars. Ratings act as the first filter in fund selection, since they take

FUNDS
into account the return as well as risk undertaken to achieve that return.
Risk-adjusted return from a fund is the sole basis of Value Research fund
rating (detailed methodology on page 50). Below are the schemes in various
categories that have been rated five and four star.

DEBT REGULAR (83/234)

HYBRID: CONSERVATIVE HYBRID DEBT: SHORT DURATION IDFC Dynamic Bond Reg 
Baroda Conservative Hybrid Reg  Axis Short Term Reg  Kotak Dynamic Bond Reg 
BNP Paribas Cons Hybrid Reg  HDFC Short Term Debt Reg  L&T Flexi Bond Reg 
Canara Robeco Cons Hybrid Reg  ICICI Pru Short Term Reg  Mirae Asset Dynamic Bond Reg 
Franklin Life Stage FoF 50s Plus FR Reg  IDFC All Seasons Bond Reg  SBI Dynamic Bond Reg 
ICICI Pru Income Optimizer (FOF) Reg  IDFC Bond Short Term Reg 
DEBT: CORPORATE BOND
ICICI Pru Regular Savings Reg  Kotak Bond Short-term Reg 
ABSL Corporate Bond Reg 
ICICI Pru Thematic Advantage (FOF) Reg  L&T Short Term Bond Reg 
DSP Corporate Bond Reg 
IDFC Asset Allocation Cons Reg  SBI Short Term Debt Reg 
HDFC Corporate Bond Reg 
Indiabulls Savings Income Reg 
DEBT: LOW DURATION ICICI Pru Corporate Bond Reg 
Kotak Asset Allocator Reg 
ABSL Low Duration Reg  IDFC Corporate Bond Reg 
Kotak Debt Hybrid Reg 
Axis Treasury Advantage Reg  Kotak Corporate Bond Reg 
SBI Magnum Children’s Benefit - Savings 
Canara Robeco Savings Reg  L&T Triple Ace Bond Reg 
Tata Retrmnt Savings Cons Reg 
ICICI Pru Savings Reg  UTI Corporate Bond Reg 
HYBRID: EQUITY SAVINGS IDFC Low Duration Reg 
DEBT: CREDIT RISK
Axis Equity Saver Reg  Invesco India Treasury Advtg Reg 
Axis Credit Risk Reg 
Edelweiss Equity Savings Reg  Kotak Low Duration Reg 
HDFC Credit Risk Debt Reg 
ICICI Pru Equity Savings Reg  Mahindra Manulife Low Duration Fund Reg 
ICICI Pru Credit Risk Reg 
Kotak Equity Savings Reg  SBI Magnum Low Duration Reg 
IDFC Credit Risk Reg 
Principal Equity Savings Reg 
DEBT: ULTRA SHORT TERM Kotak Credit Risk Reg 
DEBT: MEDIUM TO LONG DURATION ABSL Savings Reg  Mahindra Manulife Credit Risk Fund Reg 
ICICI Pru Bond Reg  HDFC Ultra Short Term Reg  SBI Credit Risk Reg 
ICICI Pru Debt Management (FOF) Reg  ICICI Pru Ultra Short Term Reg 
DEBT: BANKING AND PSU
IDFC Bond Income Reg  IDFC Ultra Short Term Reg 
Axis Banking & PSU Debt Reg 
Nippon India Income Reg  Kotak Savings Reg 
IDFC Banking & PSU Debt Reg 
SBI Magnum Income Reg  L&T Ultra Short Term Reg 
Kotak Banking & PSU Debt Reg 
PGIM India Ultra ST Reg 
DEBT: MEDIUM DURATION LIC MF Banking & PSU Debt Reg 
HDFC Medium Term Debt Reg  SBI Magnum Ultra Short Duration Reg 
Nippon India Banking & PSU Debt Reg 
ICICI Pru Medium Term Bond Reg  DEBT: DYNAMIC BOND
ICICI Pru Retrmnt Pure Debt Reg  Axis Dynamic Bond Reg 
IDFC Bond Medium Term Reg  DSP Strategic Bond Reg 
Indiabulls Income Reg  Edelweiss Dynamic Bond Reg 
SBI Magnum Medium Duration Reg  ICICI Pru All Seasons Bond Reg 

RATING DOWNGRADE List of funds that moved out of the five- and four-star grades in October 2020
HSBC Managed Solutions Ind Cons Reg

LIC MF Debt Hybrid Reg

Funds suspended for sale have been excluded.

Mutual Fund Insight December 2020 83

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 DEBT DIRECT (82/234)
HYBRID: CONSERVATIVE HYBRID HDFC Short Term Debt Dir  Mirae Asset Dynamic Bond Dir 

Baroda Conservative Hybrid Dir  ICICI Pru Short Term Dir  PGIM India Dynamic Bond Dir 

BNP Paribas Cons Hybrid Dir  IDFC All Seasons Bond Dir  SBI Dynamic Bond Dir 

Canara Robeco Cons Hybrid Dir  IDFC Bond Short Term Dir 
DEBT: CORPORATE BOND
Franklin Life Stage FoF 50s Plus FR Dir  Kotak Bond Short-term Dir 
ABSL Corporate Bond Dir 
ICICI Pru Regular Savings Dir  L&T Short Term Bond Dir 
DSP Corporate Bond Dir 
IDFC Asset Allocation Cons Dir  SBI Short Term Debt Dir 
HDFC Corporate Bond Dir 
Indiabulls Savings Income Dir 
DEBT: LOW DURATION ICICI Pru Corporate Bond Dir 
Kotak Asset Allocator Dir 
ABSL Low Duration Dir  IDFC Corporate Bond Dir 
Kotak Debt Hybrid Dir 
Axis Treasury Advantage Dir  Kotak Corporate Bond Dir 
LIC MF Debt Hybrid Dir 
HDFC Low Duration Dir  UTI Corporate Bond Dir 
SBI Magnum Children’s Benefit - Savings 
ICICI Pru Savings Dir 
DEBT: CREDIT RISK
Tata Retrmnt Savings Cons Dir 
IDFC Low Duration Dir 
Axis Credit Risk Dir 
HYBRID: EQUITY SAVINGS Invesco India Treasury Advtg Dir 
HDFC Credit Risk Debt Dir 
Axis Equity Saver Dir  Kotak Low Duration Dir 
ICICI Pru Credit Risk Dir 
Edelweiss Equity Savings Dir  Mahindra Manulife Low Duration Fund Dir 
IDFC Credit Risk Dir 
ICICI Pru Equity Savings Dir  SBI Magnum Low Duration Dir 
Kotak Credit Risk Dir 
Kotak Equity Savings Dir 
DEBT: ULTRA SHORT TERM Mahindra Manulife Credit Risk Fund Dir 
Principal Equity Savings Dir 
ABSL Savings Dir  SBI Credit Risk Dir 
DEBT: MEDIUM TO LONG DURATION Axis Ultra Short Term Dir 
DEBT: BANKING AND PSU
Canara Robeco Income Dir  HDFC Ultra Short Term Dir 
Axis Banking & PSU Debt Dir 
ICICI Pru Bond Dir  ICICI Pru Ultra Short Term Dir 
IDFC Banking & PSU Debt Dir 
ICICI Pru Debt Management (FOF) Dir  IDFC Ultra Short Term Dir 
Kotak Banking & PSU Debt Dir 
Nippon India Income Dir  Indiabulls Ultra Short Term Dir 
LIC MF Banking & PSU Debt Dir 
SBI Magnum Income Dir  Kotak Savings Dir 
Nippon India Banking & PSU Debt Dir 
PGIM India Ultra ST Dir 
DEBT: MEDIUM DURATION
SBI Magnum Ultra Short Duration Dir 
HDFC Medium Term Debt Dir 

ICICI Pru Medium Term Bond Dir  DEBT: DYNAMIC BOND
ICICI Pru Retrmnt Pure Debt Dir  Axis Dynamic Bond Dir 
IDFC Bond Medium Term Dir  Edelweiss Dynamic Bond Dir 
Indiabulls Income Dir  ICICI Pru All Seasons Bond Dir 
SBI Magnum Medium Duration Dir  IDFC Dynamic Bond Dir 

Kotak Dynamic Bond Dir 

DEBT: SHORT DURATION
Axis Short Term Dir  L&T Flexi Bond Dir 

RATING DOWNGRADE List of funds that moved out of the five- and four-star grades in October 2020
Essel Regular Savings Dir

HDFC Retrmnt Svngs Hybrid Debt Dir

Funds suspended for sale have been excluded.

84 Mutual Fund Insight December 2020

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 Star ratings of funds are recalculated each month with no subjective input. A
fund is rated only when there are minimum 10 funds in the category, with a
TOP-RATED minimum three-year history for equity and hybrid funds and 18-month

FUNDS
history for debt funds. In the case of equity funds, a fund’s overall rating
stems from a weighted average of two time periods – three and five years –
where available. Equity funds less than three-year old are not rated and debt
funds with less than 18-month history are also not rated.
EQUITY REGULAR (75/230)
HYBRID: AGGRESSIVE HYBRID UTI Nifty Index Reg  L&T Midcap Reg 

BNP Paribas Substantial Eqt Hybrid Reg  Taurus Discovery (Midcap) Reg 
EQUITY: LARGE & MIDCAP
Canara Robeco Eqt Hybrid Reg 
Canara Robeco Emerging Equities Reg  EQUITY: SMALL CAP
DSP Equity & Bond Reg 
Invesco India Growth Opp Reg  Axis Small Cap Reg 
HDFC Children’s Gift Reg 
Kotak Equity Opportunities Reg  Kotak Small Cap Reg 
HDFC Retrmnt Svngs Hybrid Eqt Reg 
LIC MF Large & Midcap Reg  Nippon India Small Cap Reg 
Mirae Asset Hybrid Equity Reg 
Mirae Asset Emerging Bluechip Reg  SBI Small Cap Reg 
Principal Hybrid Equity Reg 
Principal Emerging Bluechip Reg 
EQUITY: VALUE ORIENTED
SBI Equity Hybrid Reg 
Sundaram Large & Midcap Reg 
Invesco India Contra Reg 
Sundaram Equity Hybrid Reg 
EQUITY: MULTI CAP Kotak India EQ Contra Reg 
Tata Retrmnt Svngs Moderate Reg 
ABSL Equity Reg  L&T India Value Reg 
EQUITY: LARGE CAP Axis Focused 25 Reg  Tata Equity PE Reg 
Axis Bluechip Reg 
Canara Robeco Eqt Diversified Reg  UTI Value Opportunities Reg 
Canara Robeco Bluechip Eqt Reg 
DSP Equity Reg 
EQUITY: ELSS
Edelweiss Large Cap Reg 
IIFL Focused Equity Reg 
ABSL Tax Relief 96 Reg 
HDFC Index Nifty 50 Reg 
Kotak Standard Multicap Reg 
Axis Long Term Equity Reg 
HDFC Index Sensex Reg 
Parag Parikh Long Term Equity Reg 
BOI AXA Tax Advantage Reg 
HSBC Large Cap Eqt Reg 
PGIM India Diversified Eqt Reg 
Canara Robeco Eqt Tax Saver Reg 
ICICI Pru Bluechip Reg 
Principal Focused Multicap Reg 
DSP Tax Saver Reg 
ICICI Pru Sensex Index Reg 
Quant Active Reg 
Invesco India Tax Reg 
IDFC Large Cap Reg 
SBI Focused Equity Reg 
JM Tax Gain Reg 
IDFC Nifty Reg 
Tata Retrmnt Svngs Progressive Reg 
Mirae Asset Tax Saver Reg 
LIC MF Index Sensex Reg 
UTI Equity Reg 
Motilal Oswal Long Term Eqt Reg 
Mirae Asset Large Cap Reg 
EQUITY: MID CAP Quant Tax Reg 
Motilal Oswal Focused 25 Reg 
Axis Midcap Reg  Tata India Tax Savings Reg 
Nippon India Index Sensex Reg 
DSP Midcap Reg  Taurus Tax Shield Reg 
Sundaram Select Focus Reg 
Invesco India Midcap Reg 
Tata Index Nifty Reg 
Kotak Emerging Equity Reg 
Tata Index Sensex Reg 

RATING DOWNGRADE List of funds that moved out of the five- and four-star grades in October 2020
DSP Equity Opp Reg

Funds suspended for sale have been excluded.

Mutual Fund Insight December 2020 85

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 EQUITY DIRECT (78/230)
HYBRID: AGGRESSIVE HYBRID EQUITY: LARGE & MIDCAP Taurus Discovery (Midcap) Dir 

BNP Paribas Substantial Eqt Hybrid Dir  Canara Robeco Emerging Equities Dir 
EQUITY: SMALL CAP
Canara Robeco Eqt Hybrid Dir  Invesco India Growth Opp Dir 
Axis Small Cap Dir 
DSP Equity & Bond Dir  Kotak Equity Opportunities Dir 
Kotak Small Cap Dir 
HDFC Children’s Gift Dir  LIC MF Large & Midcap Dir 
Nippon India Small Cap Dir 
HDFC Retrmnt Svngs Hybrid Eqt Dir  Mirae Asset Emerging Bluechip Dir 
SBI Small Cap Dir 
Mirae Asset Hybrid Equity Dir  Principal Emerging Bluechip Dir 
EQUITY: VALUE ORIENTED
Principal Hybrid Equity Dir  Sundaram Large & Midcap Dir 
Invesco India Contra Dir 
SBI Equity Hybrid Dir 
EQUITY: MULTI CAP Kotak India EQ Contra Dir 
Sundaram Equity Hybrid Dir  Axis Focused 25 Dir 
L&T India Value Dir 
Tata Retrmnt Svngs Moderate Dir  Canara Robeco Eqt Diversified Dir 
Tata Equity PE Dir 
EQUITY: LARGE CAP DSP Equity Dir 
UTI Value Opportunities Dir 
Axis Bluechip Dir  IDFC Focused Equity Dir 
EQUITY: ELSS
BNP Paribas Large Cap Dir  IIFL Focused Equity Dir 
ABSL Tax Relief 96 Dir 
Canara Robeco Bluechip Eqt Dir  Kotak Standard Multicap Dir 
Axis Long Term Equity Dir 
Edelweiss Large Cap Dir  Mahindra Manulife Multi Cap Badhat Yojana 
BOI AXA Tax Advantage Dir 
HDFC Index Sensex Dir  Parag Parikh Long Term Equity Dir 
Canara Robeco Eqt Tax Saver Dir 
HSBC Large Cap Eqt Dir  PGIM India Diversified Eqt Dir 
DSP Tax Saver Dir 
ICICI Pru Bluechip Dir  Principal Focused Multicap Dir 
Invesco India Tax Dir 
ICICI Pru Sensex Index Dir  Quant Active Dir 
JM Tax Gain Dir 
IDFC Large Cap Dir  SBI Focused Equity Dir 
Kotak Tax Saver Dir 
IDFC Nifty Dir  Tata Retrmnt Svngs Progressive Dir 
Mirae Asset Tax Saver Dir 
Invesco India Large Cap Dir  UTI Equity Dir 
Motilal Oswal Long Term Eqt Dir 
Kotak Bluechip Dir  EQUITY: MID CAP Quant Tax Dir 
LIC MF Index Sensex Dir  Axis Midcap Dir  Tata India Tax Savings Dir 
Mirae Asset Large Cap Dir  DSP Midcap Dir  Taurus Tax Shield Dir 
Motilal Oswal Focused 25 Dir  Invesco India Midcap Dir 
Nippon India Index Sensex Dir  Kotak Emerging Equity Dir 
Sundaram Select Focus Dir  L&T Midcap Dir 
Tata Index Sensex Dir  PGIM India Midcap Opp Dir 

RATING DOWNGRADE List of funds that moved out of the five- and four-star grades in October 2020
JM Multicap Dir

Funds suspended for sale have been excluded.

mutual fund ratings are revised every month. The above ratings are as on October 31, 2020.

86 Mutual Fund Insight December 2020

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