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Everyday life
or
A life you love?

Aim to retire on your own terms

Start early, Invest consistently
HDFC RETIREMENT SAVINGS FUND$
A Notified Tax Savings Cum Pension Scheme
[An open ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier)]
$
Investing in the Scheme shall be eligible for tax benefits U/S 80C of the Income-Tax Act, 1961

Name of Scheme/
Investment Plan This product is suitable for investors who are seeking* Riskometer# of the Scheme(s)

HDFC Retirement Savings • A corpus to provide for pension in the form of income to the extent
Moder
of the redemption value of their holding after the age of 60 years
oderate Highately
ot te M
Fund – Equity Plan
• Investment predominantly in equity and equity related instruments w era Hi
Mo Lo

gh
d

• A corpus to provide for pension in the form of income to the

Very
Low

High

HDFC Retirement Savings

Fund – Hybrid Equity Plan extent of the redemption value of their holding after the age
of 60 years RISKOMETER
• Investment predominantly in equity and equity related Investors understand that their principal will be at
instruments & balance in debt and money market instruments very high risk

Modera
oderate High tely
• A corpus to provide for pension in the form of income to the ot te M Hi
HDFC Retirement Savings extent of the redemption value of their holding after the age w ra
e
Mo Lo

gh
d

Fund – Hybrid Debt Plan of 60 years

• Investment predominantly in debt and money market
Very
High
Low

instruments & balance in equity and equity related

instruments RISKOMETER
Investors understand that their principal will be at
moderately high risk
*Investors should consult their financial advisers, if in doubt about whether the product is suitable for them.
#For latest Riskometer, investors may refer to the Monthly Portfolios disclosed on the website of the Fund viz. www.hdfcfund.com

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.
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 Questions that every
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Invest in
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Uƭ͘Ŧñǔ͘Ďğ͘Ũųƭğė͘ƭŀñƭ͘ƭŀğ͘ơĐŀğŦğ͘ƙņơř̿ų̿Ŧğƭğƙ͘ơƖğĐņǦğė͘ñĎųǍğ͘ņơ͘Ďñơğė͘ųŨ͘ƭŀğ͘ņŨƭğƙŨñŝ͘ñơơğơơŦğŨƭ͘ųķ͘ƭŀğ͘ơĐŀğŦğ͘ĐŀñƙñĐƭğƙņơƭņĐơ͘ñŨė͘Ŧñǔ͘Ǎñƙǔ͘Ɩųơƭ͘uH€͘ǎŀğŨ͘ƭŀğ͘
ñĐƭƵñŝ͘ņŨǍğơƭŦğŨƭơ͘ñƙğ͘Ŧñėğ̩͘»ŀğ͘ơñŦğ͘ơŀñŝŝ͘Ďğ͘ƵƖėñƭğė͘ųŨ͘ųŨĸųņŨĸ͘Ďñơņơ͘ņŨ͘ñĐĐųƙėñŨĐğ͘ǎņƭŀ͘ƖñƙñĸƙñƖŀ͘˪˰̩˭͘ųķ͘ƭŀğ͘sñơƭğƙ͘ ņƙĐƵŝñƙ͘ķųƙ͘sƵƭƵñŝ͘HƵŨėơ͘ėñƭğė͘eƵŨğ͘˫˰̪͘
˫˩˫˭̹͘ƭŀğ͘sñơƭğƙ͘ ņƙĐƵŝñƙ̺̩

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 Editorial Principles
Contents
Value Research is an independent
investment research company. Our goal Cover Story 32
is to serve our readers with data,
information and knowledge that inform

How to gain from

them about savings and investments
and help them learn how to make
better choices.
The basis of our work is the trust

market cycles
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 abilities.

EDITOR-IN-CHIEF
Dhirendra Kumar

COPY EDITING
Agnisheik Chatterji, Khyati Simran
Nandrajog, Mithilesh Bhaumik & Ujjal Das

RESEARCH AND ANALYSIS

Aakar Rastogi, Abhishek Rana, Ameya
Satyawadi, Ashish Menon, Ashutosh
Gupta, Chirag Madia, Karan Jaiswal,
Karthik Anand Vijay, Pranit Mathur &
Sneha Suri

DATA AND ANALYSIS

Apurva Srivastava, Bishal Das, Nidhi Fund Radar 16 Interview 26
Patel, Nishu Nagar, Pranav Kataria,
Sandeep P, Shruti Agarwal & Vijay Kumar
Do factor funds ‘We’ve
DESIGN
Aditya Roy, Aman Singhal, Anand Kumar, have X-factor? deliberately
been avoiding
Aprajita Anushree, Harish Kumar, Kamal
Kant, Mukul Ojha, Nitin Yadav & Sakshi An investing strategy
PRODUCTION MANAGER & CIRCULATION
Hira Lal: +91-9958058407
where index simplicity a few sectors
meets active wisdom
ADVERTISING in our fund’
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Biswa Ranjan Palo: +91-9664075875
Head of Equities, UTI Mutual Fund
MARKETING
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Upadhyay & Jash Ashar

CUSTOMER SUPPORT
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December 2024 Volume XXII, Number 3

© 2024 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

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 FIRST PAGE 9
INTERVIEW 30
Simple or not?
DHIRENDRA KUMAR ‘A 3-5-year outlook partially
justifies mid-cap valuations’
DEVENDER SINGHAL
Executive Vice President & Fund Manager
Kotak Mahindra AMC

INSIDE FUNDS 24 INVESTMENT ACORNS

z The chosen 10 BY WHITEOAK 54 TOP-RATED FUNDS 102
z Equity funds at Are FIIs leaving Funds that are at the
VALUE RESEARCH
FUND ADVISOR 10
a glance India? top of the Value
Building a MANUJ JAIN, CFA Research food chain
family’s future
SIP RETURNS 104
Value of a `10,000
monthly SIP across
different time periods

CATEGORY REVIEW 38 THE PLAN 56

Growth funds: A BAF: Your retirement
FUND RADAR 12 steadfast performance BFF?
What’s up with
NFOs?
BACK TO BASICS 49
The crucial role of
READERS’ VOICE 20
debt in your SUPPLEMENT
investment portfolio
Letters to the
Editor’s Note
INVESTORS’
Special Supplement December 2024

Complete Personal Finance Guide

JOURNEYS 50
ASK VALUE RESEARCH 58
Wake up and smell All your savings and
the coffee investment queries
SHYAMALI BASU answered
How to become a
SCOREBOARD 60 Crorepati
A special supplement for readers

z Equity, Hybrid & Powered by

PERSONAL FINANCE
INSIGHT 22
Debt funds
Do you need NPS z Index funds An Investor Education & Awareness Initiative by quant Mutual Fund

Vatsalya? z ETFs

',6&/$,0(5
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
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FIRST PAGE

Simple or not?
Dhirendra Kumar

T
Editor-in-chief

here are mutual fund investors While each may seem straightforward Emergency cash reserves: Maintain
who want it simple, very simple. And in isolation, the combined portfolio 3-6 months of living expenses in a
then there are those who want to becomes unwieldy and difficult to savings account. This buffer protects
understand every nuance of funds. monitor. Smart personal finance against job loss, medical emergencies
The heart of Value Research lies in means limiting yourself to invest- or other financial shocks. While
simplicity – that has been my strong ments you can fully comprehend. building it gradually is fine, the
preference ever since we started. For most investors, three core ele- 3-6 month target remains key. Further,
However, sometimes, we must bow to ments are sufficient. These are emer- this money should stay in savings,
the needs (and demands) of those gency cash reserves, essential insur- not investments, as you may need it
readers who want to go deep into the ance coverage and a focused selection at short notice.
complex stuff. This issue’s cover story of mutual funds for growth. This Essential insurance: The right insur-
is something like that. Yet, as a life- streamlined approach allows you to ance policy prevents major risks from
long devotee of simplicity in invest- maintain a clear grasp of your finan- becoming financial disasters. Focus
ing, I decided to break with its con- cial position. Success becomes easy on just two types: term life and health
tent and write this page as an anti- to identify and replicate, while prob- insurance. While other insurance
dote to complexity. lems can be quickly spotted and products exist, these two address the
The entire (and I do mean entire) addressed. Such simplicity gives you most critical risks. The reasoning for
point of preferring simplicity is to control over your money while com- this deserves deeper discussion,
make things understandable. Can we plexity leaves you confused. which we’ll explore in future articles.
effectively use something we don’t While marketers equate sophistica- Growth through mutual funds: Well-
fully understand? Using products tion with intelligence, true financial chosen mutual funds offer everyone
without knowing their strengths and wisdom lies in choosing simple, min- access to equity markets’ growth
limitations is risky, whether it’s a car, imalist products. Complexity doesn’t potential, moving beyond traditional
gadget or phone. The same applies to enhance understanding – it impedes fixed deposits. Keep your selection
financial products, if not more. it. The best personal finance strategy limited – a few are sufficient. Regular
Yet when making purchases, strips everything down to compre- investments through SIPs help build
including financial ones, we often fall hensible essentials. Think of it like a long-term wealth systematically.
for the notion that more features and well-designed tool: the most effective Surprisingly, just these three ele-
complexity equate to better quality. ones often have very few moving ments alone are sufficient for most
Marketers constantly reinforce this parts. Each additional feature or layer savers! Though each has nuances to
myth. The reality is quite different – of complexity increases confusion explore further, this framework pro-
simplicity is fundamental to sound and the likelihood of making mis- vides security and growth potential
personal finance. Without truly takes. This is crucial in financial while being simple. Focusing exclu-
understanding a financial product, planning, where clarity leads to better sively on components you fully grasp
you cannot judge its suitability for decisions. When you can easily makes personal finance more man-
your needs, regardless of how con- explain your investment strategy, it’s ageable. Remember, the goal isn’t to
vincing the sales pitch may be. a strong sign you’re on the right track. impress others with financial com-
Genuine comprehension demands Complexity often masks weaknesses, plexity but to build a robust financial
simple, minimalist financial habits. while simplicity reveals true value. future you can understand and con-
Many investors today scatter their So, let’s briefly examine the three trol. This three-part approach
savings across numerous products. fundamental elements: achieves precisely that.

Mutual Fund Insight December 2024 9

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 VALUE RESEARCH FUND ADVISOR

DHIRENDRA KUMAR

Building a family’s future

For Indians, investing is often a family exercise. With Fund Advisor,
we make it easier to achieve your family’s financial goals.

S
uccessful mutual fund investing shouldn’t
be complicated. And yet, it is. Why is that
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The beauty of our platform lies in its
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Illustration: Anand
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already have existing investments – perhaps You can manage all your family’s investments
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10 Mutual Fund Insight December 2024

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isn’t a startup’s experiment or a tech company’s out on opportunities due to procedural delays.
side project – it’s the evolution of a system that Regular updates and alerts keep you informed
has served lakhs of Indian investors for over two without overwhelming you. We understand
decades. When we launched our first investment the difference between important information
guidance system some 23 years ago, mutual and market noise. Our updates focus on what
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these experiences has taught us invaluable night. That’s why we’ve designed our platform
lessons about what Indian investors truly need. to handle the complexities while you focus on
This deep understanding isn’t theoretical – it what matters most to you. You shouldn’t have to
comes from answering millions of investor worry about monitoring every market movement
queries, helping families achieve their financial or analysing every fund update – that’s our job.
goals and witnessing firsthand the challenges We take this responsibility seriously, which is
that Indian investors face. I’ve seen what works reflected in our business model.
Our Fund
and doesn’t, what truly matters to investors and, Unlike many investment platforms that
Advisor is
most importantly, what helps them stay earn through commissions or hidden charges,
designed in
committed to their financial journey even during we’ve opted for complete transparency. We
a way that
market turbulence. This rich experience is charge a modest fee for our services – no
grows with
woven into every feature we offer: hidden costs, commission-based
your family,
Our goal-oriented portfolio building translates recommendations or conflicts of interest.
adapts to
your life’s aspirations into concrete investment This clear-cut approach ensures our interests
your
strategies. Whether it’s planning for your child’s align perfectly with yours. When you
changing
education 15 years from now or building a succeed, we succeed. It’s as simple as that.
needs and
retirement corpus, we help you break down This transparency extends to every aspect of
consistently
these life goals into actionable investment plans our service – from our fund recommendations
works to
with clear milestones. to our portfolio analysis, you always know
help you
Advanced fund selection algorithms backed by exactly what you’re getting and why.
achieve
expert knowledge, sift through thousands of We’re not just building another investment
financial
options to find the ones that truly match your platform; we’re creating a service that grows
success.
needs. Our methodology doesn’t just look at past with your family, adapts to your changing needs
returns mechanically – it analyses numerous and consistently works towards your financial
other factors that impact long-term performance. success. The trust that lakhs of investors have
This comprehensive evaluation ensures you placed in Value Research over the past quarter-
invest in funds that align with your goals and century isn’t just a testament to our past – it’s a
risk tolerance. foundation for our future commitment to you.
Continuous re-evaluation ensures you stay on Whether consolidating investments, seeking
track. Markets change, fund performances vary expert guidance, or planning your family’s
and your life circumstances evolve. Our financial future, Value Research Fund Advisor
system constantly evaluates these changing offers the tools, expertise and support you need.
dynamics, filtering out the noise and looking We’ve been here for decades, helping Indian
only at the knowledge. investors navigate their financial journeys, and
Direct transaction capabilities let you act on our we’ll continue to be here, evolving and
recommendations efficiently and without delay. improving, dedicated to your investment success.
We’ve eliminated the friction between getting This is more than just a platform – it’s your
advice and implementing it. When you decide to partner in building a secure financial future for
make a change, you can execute it immediately you and your family. And that’s a promise we
through our platform, ensuring you don’t miss intend to keep for decades to come.

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 FUND RADAR

What’s up with NFOs?

We also review how the most popular NFOs fared in their first year

AI-generated image

By Karan Jaiswal and Pranit Mathur Since the mutual fund industry was re-categorised
in FY18, we’ve witnessed a surge in sectoral, thematic

H
as your bank’s relationship manager ever urged and passive funds. That’s because, since the re-cate-
you to invest in the latest NFO (new fund gorisation, fund houses are allowed to launch only one
offer), calling it a ‘must-have’ for your portfolio? active fund per equity category but unlimited funds in
It’s no surprise then that fund houses backed by banks the ‘other schemes’ and sectoral/thematic category.
have dominated NFO collections. ICICI Prudential
AMC tops this list, raking in nearly `39,000 crore NFO over the years
across 53 funds since FY19. Among these, its flexi-cap Over the past two decades, India’s mutual fund land-
fund has been particularly popular. scape has mirrored the market sentiment. NFOs have
acted as a barometer for investor confidence, with their
popularity fluctuating depending on market sentiment.
Peaks of enthusiasm and valleys of caution
During the bull run of 2004-06, NFOs mobilised
Market sentiment steers NFO appeal among investors
more than one-third of the gross equity inflows and
`75,000 cr
over 100 per cent of equity net flows, riding the wave
Bull of market optimism (indicating a large chunk of the
60,000 run
investors sold their holdings to subscribe to NFOs).
NFO mobilisation

45,000 2020 Covid However, the 2008-09 market crash triggered wide-
2008-09 Global crash
scale pessimism, causing NFO activity to nosedive.
30,000 Financial Crisis
Today, NFOs have found their mojo again. Since we
15,000 are on another bull run, net flows to equity funds
have skyrocketed. The real standout was FY22,
0 when NFO mobilisation surged to an all-time high of
2003-04 2024-25*
`64,758 crore, making up 21 per cent of net flows,
Open-ended equity schemes have been considered. *Data till September 30, 2024.
thanks to the post-pandemic recovery. Fast forward to

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 FUND RADAR

The money game

Mapping NFO category inflows since FY19, thematic funds emerge as clear favourites among investors In ` cr

Categories 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 ^

Large, mid and small cap 1,210 2,331 2,514 4,037 3,148 5,469 1,877
ELSS 16 24 - - 73 118 -
Flexi Cap 2,148 3,752 1,878 18,047 4,991 2,689 2,389
Large & mid cap 1,303 719 521 53 - 1,990 -
Multi Cap - 378 - 23,775 4,002 4,935 5,890
Value Oriented 336 - 221 1,046 27 1,547 -
Overseas 21 103 3,193 7,899 115 11 -
Sectoral* 1,784 469 763 2,534 606 4,165 387
Thematic 4,142 4,085 12,880 7,368 18,167 22,706 56,359
As per Value Research categorisation. *Includes manufacturing, defence, business cycle and factor-based funds. ^Data as of September 30, 2024.

the current financial year, we’ve already hit Thematic funds have been a monster hit, too. For
28 per cent of net flows (as of September 30, 2024), instance, SBI Energy Opportunities and HDFC
another sign of rising investor participation. Manufacturing Fund collectively raised around
That said, it’s worth noting that the current enthusi- `16,000 crore during their NFO periods, which is more
asm for NFOs pales in comparison to the fervour than the combined net assets of eight mutual fund houses
observed during the sunny days of FY04-06. as of September 2024 portfolio. This highlights the grow-
ing appeal of niche investment themes in the market.
NFOs in post-pandemic boom
Analysing the current flow of investments reveals a few How have the recent big NFOs fared
distinct trends. NFOs of flexi-cap funds, including We examined the highest-collecting fund from each
focused funds, reached their zenith in FY22, collecting financial year since 2019, comparing their first-year per-
over `18,000 crore of investor money. However, this formance against their category averages.
category has experienced a marked decrease since The results are telling. From the table ‘How the top
then, as most fund houses have already launched their debutants fared against their category’, only three out of
active variants. the seven outperformed their category average in the
Multi-cap NFOs, separately, have continued to garner first year, suggesting that even the most popular NFOs
substantial inflows since their introduction in 2021. may not quite live up to the fanfare.

Our take
How the top debutants fared against their category Investing in new funds can be a shot in the dark. It’s
Barring three, the rest of them had a dull first year often wiser to invest in funds with a proven record, spe-
Financial One-year Category NFO collection cifically those that have undergone a market cycle span-
year Fund name return (%) average (%) (in ` cr) ning at least five to seven years.
2018-19 ICICI Pru India Opp. 5.49 9.78 1,309 That said, there are rare occasions when investing in
2019-20 Axis ESG Inte. Strategy 44.96 38.45 1,715 an NFO may be justifiable. So, before putting your hard-
earned money in one, ask yourself the following:
2020-21 ICICI Pru Biz. Cycle 34.13 34.87 4,185
z Does the fund offer something unique that is absent
2021-22 ICICI Pru Flexicap 12.15 5.23 9,808
in existing funds? If not, select an established fund.
2022-23 SBI Dividend Yield 34.82 45.98 3,496 z Does it align with your specific requirements? Only
2023-24 SBI Energy Opp.* 15.63 15.35 6,547 invest if it complements your investment objectives.
2024-25 HDFC Manufacturing* 12.73 15.52 9,563 z Are there comparable funds with proven performance
histories? If yes, opting for those is generally a more
*One year is yet to be completed. Returns from launch until September 30, 2024.
prudent choice.

14 Mutual Fund Insight December 2024

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 Add Health
to your Wealth
Introducing
PGIM INDIA
HEALTHCARE FUND
(An open-ended equity scheme investing
in healthcare and pharmaceutical sector.)
NFO Opens: 19th November, 2024
NFO Closes: 3rd December, 2024

The best investment starts with your health—and

extends to the health of your wealth. By investing
in a dedicated Healthcare Fund, you gain active
exposure to India’s expansive healthcare sector,
capturing unique growth opportunities across
high-potential sub-segments.

To know more, contact your financial advisor.

www.pgimindiamf.com 1800 209 7446 | 1800 266 7446 Follow us on:

Scheme Riskometer
The product labeling assigned during the New Fund Offer (NFO) This product is suitable for investors who are seeking* ate Moderate
is based on an internal assessment of the scheme characteris- Moder High ly
Hi
tics or model portfolio and the same may vary post NFO when
de to

Long term capital growth gh

e

•
rat
Mo Low

the actual investments are made.

Very

©2024 Prudential Financial, Inc. (PFI) and its related entities. • Investment in equity and equity related securities
Low

High

PGIM, the PGIM logo, and the Rock symbol are service marks of pharmaceuticals and healthcare companies.
Riskometer
of Prudential Financial, Inc., and its related entities, registered in
many jurisdictions worldwide. *Investors should consult their financial advisors if in doubt Very High – Investors understand that
about whether the product is suitable for them. their principal will be at very high risk

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
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 FUND RADAR

Do factor funds have X-factor?

An investing strategy where index simplicity meets active wisdom

Stealing the show

Outperformance of momentum-based indices over their parent
indices and active funds
How many times
does it beat
Active funds Parent Active
Index for comparison index (%) funds (%)

Nifty 200 Momentum 30 Large & Midcap 99 96

Nifty Midcap 150 Momentum 50 Mid cap 100 100
Nifty 500 Momentum 50 Flexi cap 97 81
Category average of active funds considered. Based on five-year rolling returns since
the inception of the index.

AI-generated image
By Ashish Menon or another over any five-year period.

T
he battle between active and passive funds is a Quality
classic showdown. One side loves the thrill of the This factor focuses on financially sound companies
hunt and promises higher gains. The other side based on return on equity (ROE), debt-to-equity ratio,
offers simplicity and lower fees. But here's the kicker: and earnings per share (EPS) growth over the past five
each style has its perks and pitfalls. But what if you didn’t years. Each criterion is given equal weightage. Four
have to pick sides? Imagine a blend of both the worlds. quality-based indices exist – one each for large, mid
That’s where 'factor investing' comes in. and small caps and one picking stocks from the top
Factor investing combines active and passive investing. 200 companies.
It starts with a broad investment universe (like large caps Quality as a factor performs better with mid- and
or the top 500 companies) and then narrows it down to small-cap stocks, which often include lower-quality
30-50 stocks based on specific characteristics or ‘factors’ companies. Indices focused on mid and small caps
believed to drive better returns, similar to how a fund outperformed their parent indices by 3-6 per cent and
manager might handpick investments. surpassed respective active funds by 2-3 per cent. In large
As such, factor-based funds should ideally perform caps, though, results are mixed.
better than traditional market cap-based passive funds
and come close to the returns of an average active fund.
But do they? Let's look at four prominent factors in factor Shining in smaller companies
investing and how they stack up. Mid- and small-cap quality stocks deliver better than large caps
How many times
Momentum does it beat
It targets stocks that saw a strong share price appreciation Active funds Parent Active
Index for comparison index (%) funds (%)
in the past six to 12 months, adjusted for volatility. There
are three momentum-based indices that pick stocks from Nifty 100 Quality 30 Large cap 44 37
the top 200 companies, the entire mid-cap universe of Nifty 200 Quality 30 Large & mid cap 88 63
150 companies and the top 500 companies. Nifty Midcap 150 Quality 50 Mid-cap 86 69
Each of these indices outperformed their parent index
Nifty Smallcap 250 Quality 50 Small-cap 96 74
by a margin of 6-8 per cent and did 4-7 per cent better
Category average of active funds considered. Based on five-year rolling returns since
than the respective active funds. Momentum as a factor the inception of the index.
shines since we have witnessed a bull run in some form

16 Mutual Fund Insight December 2024

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 Housing

Banking

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 FUND RADAR

Value Low volatility

It aims to find undervalued stocks based on their This factor targets stocks with lower price fluctuations
return on capital employed (ROCE), price-to- over the last year. We looked at the Nifty 100 Low
earnings (P/E) ratio, price-to-book (P/B) ratio and Volatility 30 index, and it indeed achieved its goal of
dividend yield. There are three value-based indices, lower volatility (1-2 per cent less standard deviation).
each picking stocks from the top 50, top 200 and top Even better, in terms of five-year daily rolling returns over
500 companies. Only the Nifty 50 Value 20 has the last five years, it did better than Nifty 100 97 per cent
managed to beat the Nifty 50. Other indices in this of the time, although the margin of outperformance was
category have struggled to make a significant impact. less than 1 per cent. This factor has less impact in large
It means value investing remains inherently caps where volatility is naturally lower but might be more
qualitative and is yet to be easily replicated by a valuable in mid- and small-cap segments.
quantitative approach.
Our take
Factor investing isn't a 'one-size-fits-all' solution but
In need of a human touch rather a toolkit for smarter investing. Momentum shines
Active managers still lead in uncovering true value brightest but requires caution during extended bear
How many times does it beat markets. Quality works best in mid and small caps,
Active funds Parent Active Value though good active funds still edge it out. Low volatility
Index for comparison index (%) funds (%) funds (%) needs more proving ground, especially in large caps,
Nifty 50 Value 20 Large-cap 95 63 51 while value remains an art best left to experienced
Nifty 200 Value 30 Large & mid-cap 44 40 38 active fund managers.
Hence, besides momentum, none of the factors make a
Nifty 500 Value 50 Flexi-cap 54 43 32
compelling case. So, stick to active and traditional passive
Category average of active funds considered. Based on five-year rolling returns since
the inception of the index.
funds. Momentum funds can have a supplementary
allocation in your portfolio.

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 READERS’ VOICE

Letters to the Editor’s Note

Your response to the October 19 editorial ‘A new type of mutual fund’

D
hirendra Kumar’s
Editor’s Note on
the creation of a
new type of mutual
fund known as
‘investment strategy’,
published on
October 19, received
considerable feedback
from readers. The
thoughtful responses
reflected a strong
engagement with the
topic. As a gesture of
appreciation, we
dedicate this section
to our valued readers,
whose insights help
enrich these discussions.

AI-generated image

Summary

W
hen asked my opinion on `50 lakh threshold for PMS. This speculative areas.
this new mutual fund positions the product for those who This product will likely have
type, I replied, “Come can take on more risk but seek an mixed perceptions among inves-
back after three years, and I’ll tell alternative to the higher-entry PMS. tors. For mutual fund investors, it’s
you what I think.” This isn’t a joke The key motive behind this new marketed as a high-risk, high-re-
– it might take five years to form a category seems preventive. SEBI turn option for those who can han-
well-reasoned opinion. Let’s step hopes to deter unregistered, dle it. For PMS investors, it’s pre-
back to understand this better. high-risk investment schemes by sented as a more transparent,
SEBI (Securities and Exchange offering a regulated, professional tax-efficient and regulated alterna-
Board of India) recently introduced option within the mutual fund tive to PMS, potentially disrupting
a new mutual fund category termed framework. This product could the PMS market.
‘investment strategy.’ While vague channel investments away from However, the details are still
in name, it essentially represents a risky, unregulated options. minimal – just a few lines in a SEBI
higher risk and higher return vari- While these ‘investment strate- release. With many AMCs (asset
ant of traditional mutual funds, sit- gies’ allow greater portfolio flexi- management companies) involved
ting between existing schemes and bility, SEBI has implemented safe- in PMS, it’s uncertain if they’ll
PMS (Portfolio Management guards to control risks. fully support a product that could
Services). Aimed at investors with Restrictions include prohibitions impact their own business. It will
significant capital, it requires a on leverage, limits on unlisted and take at least three years to see if
minimum investment of `10 lakh, unrated instruments and caps on these funds deliver real value, but
much higher than most equity derivatives exposure, ensuring they could provide a beneficial
funds but lower than the these funds don’t stray into overly choice for certain investors.

20 Mutual Fund Insight December 2024

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What our readers say

Thank you for your frank and as soon as I realised that its Wondering what we would do
insightful inputs on the new class objective was to maximise the without your informative arti-
of mutual fund product revenue of the fund houses offer- cles laced with high-degree
announced by SEBI. I agree with ing it. In that sense, I welcome professional insights. Thanks.
your advice that it is necessary to the new class of ‘investment strat- Sushil Sachdeva
wait to form an opinion on this egy’ product as that will be better
new class of investment product regulated and transparent. In any
based on its actual performance. case, I would like to try out the
I am not a proponent of PMS. new class of investment product.
In fact, I moved away from PMS Premnath Rai Your editorial note on a new
type of mutual fund dated
October 19 is really enlightening
and interesting. As you have
The explanation for this new prod- tempted to invest, but after read- written, it will take a few years
uct is commendable. As an inves- ing your article, I have some clari- to see how these funds perform
tor without knowing the preemp- ty and clues about the product. vis-a-vis PMS.
tive measures, we are naturally A Prasad Nityananda Dash

You guys do a great job in an sure there will be a market play- I totally agree with your point.
industry marred by unverifiable er who will see the need gap and The true colour will emerge
sources bombarding us with spuri- be the first mover. So, I would only after a gestation period of
ous news and so-called expert love to see an article that scans the three-year timeline.
opinions. Please continue being AMCs making such offerings. Ashok Mahajan
honest. As for the PMS replace- Thanks for being the voice of
ment mutual fund, while time sanity in the mad bull run.
will tell its effectiveness, I’m Devika Jadhav
A very suggestive and useful
piece of information. Please
carry on, Dhiren.
Thank you very much for provid- who are unable to enter the Dr Jitendra
ing information on this new prod- opaque world of PMS with all
uct; otherwise, it would have gone their hype. Please come with
unnoticed in this self-boasting more and more retail inves-
and systematic propagandising era tor-friendly hand-holding advice.
A good article providing clarity.
of AMCs. Thank you very much once
Not overstating or understating
SEBI’s initiative seems like a again. God bless.
the importance/possibility of
ray of hope for retail investors Fakkeerappa Duragannavar the outcomes.
Some of the AMCs who don’t
have a big stake in PMS would
benefit from accepting the new
One day I was also asking my shall discuss it. challenge. But knowing who
financial consultant about the In the meantime, your analysis these AMCs are is not easy.
new AIF approved by SEBI, and seems logical. As an avid sup- Not sure if the same could be
whether I should take the plunge. porter and investor of conven- extended / applied to REITs
My consultant said that it may tional mutual funds, I am opti- where some minimum invest-
come in the market only in the mistic about the new offerings. ment is over `30 lakh.
next financial year, and then we S Chakraborty Arvind

Mutual Fund Insight December 2024 21

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 PERSONAL FINANCE INSIGHT

Do you need NPS Vatsalya?

We explore if you require this scheme to secure your child's future
By Abhishek Rana z Moreover, only 25 per cent of the total contribution
will be available for withdrawal.

N
PS Vatsalya is the newest addition to child z Lastly, each withdrawal requires a minimum gap of
investment plans. A variant of the NPS five years (except for medical emergencies).
(National Pension System), it allows parents to Clearly, NPS Vatsalya’s rigid withdrawal rules are a
open an account in their child’s name. The structure is deterrent, primarily designed to secure your child’s
similar to a standard NPS Tier-1 account, with the retirement. But should this be your top priority? Parents
funds remaining locked until the child reaches 60. This usually build a safety net for their child’s higher
is a key advantage of NPS Vatsalya, as it gives you education or even marriage. In that case, are there better
ample time to reap the maximum rewards of alternatives? Consider diversified equity or aggressive
compounding. For example, if you as a parent start hybrid funds. They can offer high returns and allow you
contributing `500 each month from the time your child to withdraw funds whenever you need them.
is five, the corpus would hit `5 lakh by the time they
are 25. This amount will top `32.5 lakh by 40, and The last word
`3.6 crore in your child’s 60th year. This is, of course, z Consider NPS Vatsalya if you've already saved for
assuming the investment annually grows 12 per cent. child’s education, marriage and your own retirement.
However, NPS Vatsalya has strict withdrawal rules: z If you haven't, consider diversified equity funds or
z Besides the Vatsalya amount being locked in until aggressive hybrid funds.
your child turns 60, partial withdrawals are allowed z Don’t forget: plan for your retirement before
just thrice. planning for your child’s.

How NPS Vatsalya fares compared to popular investment options

Public Provident Sukanya Samriddhi Diversified equity Aggressive
Feature NPS Vatsalya Fund (PPF) Yojana (SSY) funds (Flexi-cap) hybrid funds

Tenure Until age 60 15 years Until age 21 No lock-in No lock-in

(or marriage)

Partial Up to 25% of the Up to 50% of the balance at the Up to 50% of the balance, Fully Fully liquid
withdrawals contributions after end of the fourth preceding year or once girl child turns 18 or liquid
three years the last year, whichever is lower. passes Class 10

Expected returns ~12% p.a.** ~7.1% p.a.* ~8.2% p.a.* ~14% p.a.^ ~12% p.a.^

Taxability Tax-free; Annuity Tax-free Tax-free 12.5% on the gains beyond `1.25 lakh,
of returns received after if sold after 1 year. 20% of the gains if
closure is taxable sold within one year.

Investment Allows a maximum 100% debt 100% debt 100% equity 65-80% in equity
allocation of 75% in equity

Minimum `1,000/year `500/year `250/year Generally, `5,000 if invested one-time;

investment For recurring investments, usually `500
per month for at least six months

Max. investment No limit `1.5 lakh/year `1.5 lakh/year No limit No limit

*As applicable for the quarter October to December 2024; revised every quarter. **Based on 10-year category average as of October 24, 2024 with 75 per cent allocation in equity
and 12.5 per cent each in corporate and government debt. ^Ten-year category average as of October 25, 2024.

22 Mutual Fund Insight December 2024

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 A fund that aims to
rally for QUALITY

Introducing

Bandhan Nifty 200 Quality 30 Index Fund

NFO Opens: 18th November 2024

NFO Closes: 29th November 2024

Scan To Know More

Scheme Riskometer Bandhan Nifty 200 Quality 30 Index Fund

An open - ended scheme tracking Nifty 200 Quality 30 Index
This product is suitable for investors who are seeking*:
• To create wealth over a long term.
Investors understand that
• Investment in equity and equity related instruments forming part of Nifty 200 Quality 30 Index.
their principal will be at
Very High risk
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Mutual FundSubscription
Investmentscopy of [devathi108@gmail.com].
are subject to market risks, read allRedistribution
scheme relatedprohibited.
documents carefully.
 INSIDE FUNDS

The chosen 10
Mutual funds’ 10 most favourite stocks right now
z No. of schemes z Total amount invested (` crore)
Mid-cap stocks
ICICI Bank Reliance
430 Industries
416 Persistent
1,46,612 Systems
97,883
147
HDFC Bank
18,140
456
1,79,910 Infosys
391
97,240 Cummins
India
ITC 199
292 17,014
Bharti
50,034
Large-cap Airtel
375
stocks 75,242 Coforge
152
16,198
NTPC
330 Axis
50,350 Bank Lupin
340 160
67,121 16,147
SBI Larsen & Toubro
360 392
55,585 66,943 Aurobindo
Pharma
150
Multi Commodity 15,397
Exchange Of India GE Vernova
T&D India
136
124 The Federal Bank
Crompton 10,033
9,517 137
Greaves Consumer
Electricals 15,122
Kalpataru Projects
143 International
11,061 68
9,215 ICICI Lombard General
Insurance Company
162
Emami 14,984
Whirlpool Of
69 India
6,468 Small-cap 78
Hindustan Petroleum
stocks 8,355 Corporation
14,958
170
KEC International
Cholamandalam
75 Financial Holdings
6,666 Max Financial
70 Services
8,076 148
Carborundum Universal Brigade Enterprises 14,879
80 106
7,409 7,617
Voltas
Only actively-managed schemes considered. Data as of September 30, 2024.
152
14,597

24 Mutual Fund Insight December 2024

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Equity funds at a glance
We look at funds sitting on cash, plus those with long-term managers
Funds keeping their cool in a red-hot market
% of net assets
The funds that are sitting on cash instead of diving into this overvalued market
Motilal Oswal Motilal Oswal Parag Parikh Parag Parikh Quantum Quantum Quantum Sundaram ICICI ICICI
Flexi Cap Midcap Flexi Cap ELSS Tax Small ELSS Long Term Business Prudential Prudential
Saver Cap Tax Saver Equity Cycle PSU Smallcap
Value Equity

22.7
19.0
18.1 17.2 16.8
16.0 15.9 15.9 15.1 14.3
Flexi cap Mid cap Flexi cap ELSS Small cap ELSS Value Thematic Thematic-PSU Small
Oriented cap
Data as of September 30, 2024. Only funds with more than three-month history have been considered.

Leading with longevity

The fund managers at the helm since the funds’ inception

Sailesh Raj Bhan Chirag Setalvad Neelesh Surana Rajeev Thakkar Venugopal Manghat
Nippon India Multi Cap HDFC Mid-Cap Mirae Asset Large & Parag Parikh HSBC Business
Nippon India Large Cap Opportunities Midcap Flexi Cap Cycles
No. of years 19.6 | 17.2 No. of years 17.4 No. of years 14.3 No. of years 11.4 No. of years 10.2
Returns since inception Returns since Returns since Returns since Returns since
(%) 18.8 | 13.4 inception (%) 18.4 inception (%) 20.6 inception (%) 19.8 inception (%) 15.5
Category average Category average Category average Category average Category average
(%) 16.2 | 11.9 (%) 14.4 (%) 14.1 (%) 15.5 (%) 13.3

Data as of October 31, 2024

Diversified dominance
Diversified equity funds command over 60 per cent of passively-managed schemes’ AUM
z % of total AUM z No. of schemes z AUM (` crore)

Diversified equity Debt Sectoral/Thematic Commodity Smart Beta Hybrid

212 137 104 52 75 23

62%
19% 8% 5% 3% 3%

7,66,668 2,28,694 98,601 64,975 38,494 32,226

Data as of September 30, 2024

Mutual Fund Insight December 2024 25

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 INTERVIEW

‘We have deliberately been

avoiding a few sectors
in our fund’
Ajay Tyagi of UTI AMC on why
he’s comfortable with the
current underperformance of
his flexi-cap fund

W
ith nearly 24 years at UTI Mutual Fund,
Ajay Tyagi has built his investment strategy
around a steadfast commitment to a
consistent philosophy. Rather than shifting with
market trends, he believes that sticking to a clear
investment approach focused on quality and long-term
value leads to more rewarding outcomes. This
disciplined approach means avoiding the temptation
to chase short-term gains or blindly following what
the market is rewarding, even if it leads to temporary
underperformance, as seen in his flexi-cap fund.
Presently, Tyagi leads the equity division at UTI,
overseeing funds such as the UTI Flexi Cap Fund. In
this interview, he discusses the factors behind the
subpar performance of his flexi-cap fund and
explains why he isn’t overly concerned about it.
Tyagi also delves into his investment philosophy, his
insights on the current economic landscape and les-
sons learned from periods of underperformance.

You have been managing the UTI Flexi Cap Fund since
2016; the eight-year period is quite a long time. How
has your journey as an investor been, and how has your
investment philosophy evolved over the years?
I began my journey with UTI in 2000, marking
approximately 25 years at the fund house. I joined the AJAY TYAGI
team as an analyst, and my responsibilities included Head of Equities, UTI Mutual Fund
tracking sectors such as IT and Telecom back then. The
IT sector’s growth journey significantly influenced me
and my perspective on investing, even in the early
days. For me, the focus was on businesses that were
growing profitably, creating value and compounding
that value year after year. This greatly influenced the

26 Mutual Fund Insight December 2024

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philosophy I employ in managing in the past 8-9 years being around
my funds today. UTI Flexi Cap Fund 13-14 per cent. Therefore, we exhibit
As an investor, the most `27,706 crore a high level of patience regarding
dependable way to select a business Market-cap mix our companies. This means if we
is to go for the one that effectively Mid cap 27% identify a great company, even if it
addresses customer problems, doing has a `4,000-5,000 crore market cap,
so in a profitable manner and we can purchase it over a period of
entering the industry at an early Large cap 67% Small cap 2% time, knowing that we will be
stage to ensure sustained growth AUM and market-cap mix as of September 30, 2024 holding onto it for a period of, say,
over an extended period. In essence, 10 years or even more.
my philosophy revolves around Performance report
businesses creating economic value, In % The UTI Flexi Cap Fund performed
compounding that value and UTI Flexi Cap Fund exceptionally well in 2018 and 2020-
ultimately leveraging this entire Managing since January 2016 21. What drove its success then?
journey, leading to the compounding Fund 15.1 We’ve been consistent in building
of market value for their stock prices. our portfolio as per our core
Category average 16.7
philosophy. As I alluded to you
As the manager of a large flexi-cap Nifty 500 TRI 16.7 earlier, our investment philosophy is
fund, how do you plan to improve Performance-related data as of October 31, 2024.
about buying high-quality businesses
consistency in performance, which earning strong ROCEs (return on
has been lacking recently? capital employed) and cashflows
Let me begin by discussing our 2-3 years because the growth and and have a long runway of growth
definition of flexi-cap investing. For high-quality companies we own in in front of them.
us, it does not involve abruptly our portfolio haven’t performed well. But, the market environment
switching from one investment We have deliberately been keeps changing all the time. For
philosophy to another or from a avoiding a few sectors in our fund. instance, it was very favourable to us
currently underperforming style to We don’t like the Commodity space; in 2018 and some of 2019. It was
one performing well. I’m referring to we don’t like the Global Cyclicals. also favourable in 2020 and 2021 but
the current scenario where the value They have done very well, and unfavourable in 2022 and 2023. To
style is performing exceptionally therefore, we have underperformed. answer your question, we did
well, or certain sectors are seeing We are flexible in terms of looking at nothing different from how we’ve
significant growth. For us, the every corner of the market. managed this portfolio for the past
flexibility this category offers doesn’t So, we are unconstrained by that. eight to nine years. We follow a
mean blindly following what the However, we intentionally choose to rulebook – buy great businesses and
market is rewarding. For us, allow our thought process and within those businesses, buy those
consistency in thought process and philosophy to constrain us. Staying that are compounding at least
philosophy is of utmost importance. true to that in the long run is 3-4 percentage points higher than
While our investors want a certain always rewarding. India’s nominal GDP growth, which
level of consistency in performance means we love owning businesses
year after year, to deliver that, I will Given the fund’s size, isn’t it tough to that at least have a 15 per cent
have to be inconsistent with my invest in small caps? Even if you growth. Once we have selected a
thought process and philosophy and spot great opportunities, wouldn’t business, we exercise patience and
chase whatever is doing well at the their impact be minimal due to gradually increase our exposure
time. I would rather hold on to our scale limitations? over several quarters rather than
philosophy and be consistent there, It is a constraint to an extent. We all at once. If the market presents
which means that hopefully if our can’t go down the market cap levels an opportunity and something
philosophy is right, the outcomes below, say, `1,000-2,000 crore. In corrects by 15-20 per cent, we don’t
over longer periods should be good. that regard, it’s important to note hesitate to seize it.
It also means shorter-term results that UTI Flexi Cap Fund’s portfolio Finally, we keep testing the
can be disappointing, which has turnover ratio has consistently been hypothesis once we identify
certainly been the case in the last below 10 per cent, with the highest something great. However, it’s crucial

Mutual Fund Insight December 2024 27

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 INTERVIEW
to refrain from reacting to market sceptical about over the last year has starting to move towards quality
fluctuations. At times, the market been the colour and texture of this rather than just remaining stuck
unfairly penalises even the most rally. Until mid-2023, we were still with value and low P/E stocks.
successful businesses, yet we remain fine with how the markets were
unaffected. This is the most difficult moving up. But post-July-Aug 2023, What aspects will you emphasise in
part. We were rewarded for our we’ve been extremely cautious of your portfolio at this time?
patience after two challenging years how the markets went up quickly. We continue to do more of the same,
in 2016 and 2017. I hope our This is particularly true for certain i.e. being true to our philosophy and
patience will be rewarded after 2022 market segments, such as mid or selecting stocks accordingly. We
and 2023 as well. small caps. More importantly, a strongly believe that if we have made
narrative is being created around a the right stock selection and
What have you learned from periods few sectors, worrying us. Perhaps we deliberately avoided a few stocks that
of underperformance, especially were concerned ahead of time, but surged in price unwarrantedly, then
when investors question it? despite our caution, the markets we need to do nothing. This is
The most important lesson I’ve continued to rise for 6-7 months. because these stocks, which
learned is to be extremely specific What has happened in the market unwarrantedly went up, also fell like
when explaining the dos and don’ts. over the past one or two months a rock from the sky.
If we can inform our distributors represents a return to some sanity We continuously ask ourselves if
about what to anticipate and what and rationality. We like to evaluate we’re missing any businesses that
not from the fund, the impact of will businesses based on fundamental align with our core philosophy, are
be significantly lessened. The overlooking quality growth
positive aspect is that the market is opportunities or have spent enough
currently maturing. There are players time evaluating new opportunities
like you who are trying to educate like food delivery platform IPOs
the market in general about how Our funds’ performance (initial public offerings).
different funds operate, what their has improved over the
style is and what to or not to expect. What is your message to disgruntled
last 3-6 months, as the
Regarding retail investors, I don’t investors right now? What should
expect them to understand all these market is moving to they expect from you?
nuances. So, these investors will quality than being stuck In analysing the performance of
keep swinging in and out depending in low P/E stocks schemes, looking at the
on the performance. Still, we at least performance of one to two years
try to control the expectations for a and making an investment decision
section of our investment factors instead of simply fabricating is never the surest way to choose
community, our partners and stories and purchasing them at the right fund. Fund selectors,
distributors by being extremely inflated prices. The environment analysts and even investors should
candid with them, telling them there over the last few months has made first draw comfort from the fund’s
is nothing called an all-season fund investors cautious, and they aren’t core philosophy and portfolio. If it
and there is no fund doing well endlessly bidding up the valuations has underperformed over the last
regardless of the environment. of companies. So, we’re not doing couple of years, maybe it is a great
Indeed, our responsibility is to anything materially different right buying opportunity.
adhere to our philosophy, and we now as the correction of the last Our message is to evaluate us
remain dedicated to generating couple of months, just about based on the consistency of our
alpha over time. 5-7 per cent, barely scratches the philosophy. Please evaluate us
surface. As the tone of the market based on the fund’s portfolio in
Given the current market uncertainty, changes, we could have a much front of you. If you don’t like the
what challenges do you anticipate? deeper correction. If you look at the portfolio, for whatever reason, this
How are you navigating these times, performance of our funds over the fund is not meant for you. For those
and has the recent correction last three and six months, you will who align with our philosophy and
changed your thinking? see a massive improvement, and it portfolio, an underperformance
One of the things that we’ve been is because the market is finally presents an opportunity to invest.

28 Mutual Fund Insight December 2024

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 INTERVIEW

DEVENDER SINGHAL
Executive Vice President & Fund Manager
Kotak Mahindra AMC

‘A 3-5-year outlook partially

justifies mid-cap valuations’
Singhal also discusses the sectors he’s optimistic about

D
evender Singhal may have three to five-year investment perspec-
spent more than 20 years in tive. He also delves into his investing Net assets across actively-managed
financial markets, but his fire strategy and the outperformance of equity funds: `16,479 crore
burns bright. This comes to the fore his Kotak Multicap Fund. Market-cap mix
when he talks about the “excitement” Mid cap 35%
of unearthing stocks “that others How would you sum up your
may be missing”, especially during investment philosophy? Are there any
testing times. stocks or situations that excite you Large cap 49% Small cap 13%
Having been associated with Kotak when evaluating potential buys? AUM and market-cap mix as of September 30, 2024.
Group since 2007, Singhal currently I consider myself a bottom-up stock
presides over 28 schemes with assets picker. I always look for the Regarding market conditions that
worth `50,678 crore, including the asymmetric risk-reward in the stocks excite me more, I can honestly say
five-star-rated Kotak Equity Savings I invest in. The idea is that for every that over the past two decades, there
Fund and Kotak Debt Hybrid Fund. rupee of risk that I put to work, I am have been numerous such
In this interview, Singhal shares looking at asymmetric returns. So, for opportunities. Especially market
his insights on market valuations. He every rupee of downside, I need to conditions when investors struggle to
believes that while large caps are rea- generate more than a rupee of find investable ideas. I believe this is
sonably valued, mid and small caps’ upside. In a steady state, I continue a scenario when fund managers are
higher valuations are justified by to search for stocks that can yield tested. Those are times when your
superior earnings growth if one has a higher returns than overall market. actual research skills come into the

30 Mutual Fund Insight December 2024

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picture. The most exciting part is peers. I keep doing what I know best
what you can look at in a stock and Performance report and what I’ve been doing for the last
find what others may be missing at In % decade at Kotak AMC. My investing
that particular time frame. Kotak Multicap Fund philosophy prioritises asymmetric
Regardless of market conditions, Managing since September 2021 risk and reward, particularly in mid-
whether they experience a boom or a Fund 24.6 and small-cap stocks.
bust, we consistently identify ideas When examining small caps, I
Category average 20.5
that can potentially generate long- typically seek names with potential
term returns for investors. Nifty 500 Multicap to double in 3-4 years from our
18.0
50:25:25 TRI
Returns and category averages reflect direct plans.
purchase price. This is due to the
We’ve seen some recent corrections Data considered from October 6, 2021 until liquidity and opportunity costs
October 31, 2024.
in the broader indices. Do you view inherent in them. So, to be more
this as a buying opportunity, or are Kotak Consumption Fund consistent and long-term-oriented,
valuations too high? Managing since October 2023 we seek that kind of return. The top
Valuations on the large-cap side don’t 250 stocks are quite liquid, but that’s
Fund 35.7
appear very high. We are within a not always with mall caps. We have a
reasonable range or slightly above Category average 31.3 model that helps determine when to
the fair valuation zone. But, they are Nifty India be overweight in mid and small caps,
31.7
a bit higher in mid caps, and same is Consumption TRI based on their indices’ returns. It also
the case for small caps. Though Returns and category averages are of direct plans. shows how long we should be
Data considered from November 22, 2023 to
valuations of mid or small caps are October 31, 2024. overweight for. I think that helped us
higher than that of large caps, their over the last three years. We just
earnings growth is also much better. overvalued. Simultaneously, the completed three years of the Kotak
So, if you view the earnings growth earnings growth is also high Multicap Fund, and the performance
three to four years down the line, compared to the broader market and is impressive. I think a lot of luck
valuations don’t look expensive. large caps. So, a 3-5-year perspective and hard work has gone behind that.
That said, we don’t see a case for partially justifies the multiples. It
multiple expansions from hereon in yielded the highest returns over the The Kotak Multicap Fund includes
the mid- and small-cap space unless last 10-20 years. These companies new-age companies like Zomato and
earnings start accelerating based on have come a long way in delivering Nykaa in its top 10 holdings, and
current expectations. So, at all points supernormal earnings growth. both did well recently. What’s your
in time, there are stocks and sectors They’re leaders in certain segments outlook on e-commerce’s future
offering opportunities, and we’ve or sectors, and the management has particularly in light of mixed results
already seen that. Now, talking about realised over time it makes a lot of some companies gave in the past?
a correction that happened recently, sense to be minority shareholder While not commenting on a specific
if we look at the last few months, friendly, be it a good or a bad market stock, I believe the future of the
quite a few stocks are way down. condition. They consistently follow e-commerce space looks bright.
Some dropped by 30-40 per cent in it, in terms of corporate governance Wherever we find the risk-reward in
the mid- and small-cap segments. I and being shareholder-friendly. The our favour, we are happy to buy it.
think the market keeps giving such market also rewards companies with New-age businesses come with their
opportunities; one just needs to keep effective capital allocation strategies. own nuances, where some come only
their eyes and ears open. But they’re available at a premium. for growth and some for profitable
growth, and we need to look at them
There’s a lot of debate around mid The Kotak Multicap Fund has separately. I’m glad our very strong
and small caps. Some think they’re consistently outperformed its research desk can identify better
overvalued, while others see strong benchmark in the last few years. It names within the entire space.
growth potential. How do you assess has also been more volatile versus Indeed, we consider the trajectory
them and balance short-term its peers. What do you attribute its of profitability over time. We won’t
volatility with long-term growth? success to, and how do you manage buy just for growth; the company
Looking at the historic multiples, the it differently than other equity funds? should move towards the right
mid-cap space appears slightly Honestly, I don’t pay attention to my trajectory to reach profitability.

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 COVER STORY

How to
gain from
market
cycles By Ashish Menon

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Y
ear 2019. As a handful of How your portfolio can benefit from
large-cap stocks continued their mean reversion
upward march, Ms X made what Mean reversion offers a powerful lens for
seemed like a counterintuitive investors looking to find opportunities. It
decision. She began trimming her can help you spot undervalued areas with
exposure to outperforming large caps and recovery potential, and flag overvalued
systematically increased allocation to segments that might be due for a slowdown.
beaten-down quality mid and small caps For Ms X, mean reversion suggested that
trading at attractive valuations. Her large caps, after a period of outperformance,
colleagues questioned this move away would eventually cool off. At the same time,
from ‘safety’. Most market pundits underperforming mid and small caps
were preaching the need to stick with seemed ripe for a rebound. By rebalancing
‘quality large caps.’ her portfolio away from overvalued large
Fast forward to 2020. After the Covid caps, Ms X positioned herself to capture
market crash, the broader market rally has upside from undervalued segments.
seen mid- and small-cap funds delivering In fact, you can turn mean reversion into
annualised returns of 39-44 per cent, a a practical strategy with disciplined
substantial outperformance over large-cap rebalancing. We compared two portfolios to
funds’ 29 per cent returns. Ms X’s illustrate this: one followed the natural
decision had added an extra 2-3 per cent allocations of the BSE 500, while the other
to her portfolio returns compared to kept a fixed 75 per cent in large caps,
those who had remained heavily tilted 15 per cent in mid caps and 10 per cent in
toward large caps. small caps. Every time these allocations
While the above story is hypothetical, veered by more than 5 per cent, we
the message isn’t. It demonstrates readjusted back to their target levels.
how strategic portfolio shifts can Here’s the key takeaway: mean reversion-
enhance returns. Also, note that this based rebalancing can give you an edge over
outperformance was not due to timing just letting your portfolio follow the market.
the market. Ms X had, in fact, mastered
the art of riding market cycles, following
the popular market principle of
‘mean reversion’.

Mean reversion, what’s that? The rebalancing edge

You’ve probably heard the saying, “What Regular portfolio rebalancing outstrips market-driven allocation
goes up must come down.” That’s the Portfolio 1 (without mean reversion strategy)
essence of mean reversion. In investment Portfolio 2 (using mean reversion strategy)
terms, it’s the idea that prices or returns `15 lakh 12.96
tend to revert to their historical averages
over time. So, if a particular segment of 12

the market – whether a stock, sector or 9

investment style has been on a hot streak
or in a slump, it’s likely that it will return 6 11.51

to its long-term average. Think of mean 3

reversion as the market’s way of
0 Rebased to 100
balancing itself out. Just like a pendulum
2005 2024
swinging too far in one direction before
coming back, segments that veer too
As of October 25, 2024. Portfolio 1 invests in the BSE 500, while Portfolio 2 allocates 75 per cent to
far from their historical norms often large-cap, 15 per cent to mid-cap and 10 per cent to small-cap indices. It maintains a 75:25 split
correct eventually. between large caps and mid/small caps and rebalances if the allocation shifts by over 5 per cent.

Mutual Fund Insight December 2024 33

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 COVER STORY

Here’s a simple framework that you can follow:

1. Identify the investment style or market Shifting favourites
cap that’s performing exceptionally well. How investment styles and market caps have taken turns leading the parade
2. Take a contrarian stance and consider Style in Performance of value Market cap Outperformance of
quality funds within those segments. Year favour style relative to market (%) in favour market cap in favour (%)

2006 Growth -22.1 Large 7.4

Today’s rulers of the market 2007 Value 44.0 Small 37.6
Now, let’s move from theory to practice. To
2008 Growth -0.1 Large 11.9
apply a mean reversion strategy in today’s
2009 Value 42.1 Small 32.5
Indian market, it’s crucial to know which
investment styles and market caps are in 2010 Value 15.7 Mid 0.8
the spotlight. Over the last two decades, 2011 Growth -11.3 Large 6.1
we’ve seen shifts between growth and value 2012 Growth -1.4 Mid 14.1
styles and among different market caps
2013 Growth -18.8 Large 9.2
(Refer to the table ‘Shifting favourites’).
2014 Value 39.6 Small 36.8
Note that we compared the value index
with the broader market, given the lack of a 2015 Growth -7.4 Small 12.5
dedicated growth index. 2016 Value 19.9 Mid 1.5
In the last five years, value investing and 2017 Value 9.4 Small 25.6
smaller companies have been in the driver’s
2018 Growth -23.9 Large 15.1
seat. Value stocks have consistently beaten
2019 Growth -22.7 Large 11.2
the broader market since 2021, with a
stellar 35.7 per cent outperformance in 2023 2020 Growth -9.4 Small 10.4
alone. Tracking the daily five-year rolling 2021 Value 24.8 Small 36.9
returns of value-style stocks against the 2022 Value 18.9 Large 1.0
broader market also suggests that value
2023 Value 35.7 Small 27.9
style is at the peak of its upcycle.
2024 Value 8.6 Small 11.7
Similarly, small caps have dominated
since 2020, with standout years like 2021 Data as of October 22, 2024.
showing outperformance of 36.9 per cent,
followed by continued strength through
Value’s victory lap
2023 at 27.9 per cent.
Value investing’s outperformance reaches new heights, but for how long?
Is a shift coming? 20
If there’s one thing we’ve learned, it’s that no
market leader stays on top forever. Value 15
stocks and small caps may be shining right
now, but history suggests a rotation is due. 10
Our analysis shows that market shifts tend to
5
happen when certain premiums are hit. For
instance, rebased index data since 2003 0
suggests mid caps often reverse course when
they trade at 1.5 times of large caps (Sensex) -5
and small caps at two times. Right now,
these ratios have surged higher: mid caps are -10
trading at two times Sensex, and small caps
-15
at 2.5 times. Value stocks, meanwhile, tend
to peak at a 1.4x premium to the broader April 2010 October 2024

index, and we hit 1.62x earlier in 2024, Daily five-year rolling returns of Nifty 500 Value 50 TRI has been compared with Nifty 500 TRI since
inception till October 25, 2024.
currently sitting at 1.46x.

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 COVER STORY

Ready to ride the

Ride the market cycles by being contrarian next wave?
So, are large caps and growth
Large caps Mid and stocks due for a comeback? The
fall less small caps data suggests the current reign
compared to rise more
mid and small than large of value style and small caps
caps during caps during may soon wind down. But
downturns bull runs markets don’t follow a precise
timetable. This means jumping
60 LARGE CAP on to large caps immediately
could result in missed returns
45 if small caps keep running for a
while longer. The smart play is
30 to make gradual adjustments.
Here is how you can be
15 prepared while staying
grounded:
0 Check your portfolio: Look at your
current allocation. Recent gains
-15 in small caps may have tilted
April 2008 October 2024 your portfolio toward more risk
than you intended.
60 MID CAP Consider rebalancing: If your
small-cap allocation feels
uncomfortably high, consider
45
gradually shifting gains into
large caps. A systematic
30
approach, like STPs (systematic
transfer plan), often work
15
better than trying to time the
market perfectly.
0
Explore growth funds: Value stocks
are trading at historic
-15
premiums, which may make
April 2008 October 2024
this a good time to look at
growth-oriented funds with
60 SMALL CAP solid track records in identifying
quality companies poised for
45 sustainable growth.
Remember Ms X? She didn’t
30 have a crystal ball; she simply
kept an eye on where the
15 market had strayed too far
from the norm and made
0 adjustments to her
investments. The signs suggest
-15 a change in market leadership
April 2008 October 2024 might be around the corner.
So, are you ready to take
Daily five-year rolling returns of BSE Sensex, BSE Mid Cap and BSE Small Cap
advantage of it?

36 Mutual Fund Insight December 2024

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 Modera
Moderate te
High ly
der o
Mo Low t
ate

Hig
h
Very
Low

High

LOW VERY HIGH

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 CATEGORY REVIEW Growth funds

A steadfast performance
How the core equity categories have fared in 2024 so far

A
t Value Research, the ‘growth’ category
constitutes flexi-cap, large & mid-cap and
Value dominates in recent years
value-oriented funds. These funds are Measuring calendar year performance of market against factor indices
designed to be the ‘backbone of your equity z Nifty 500 Value 50 z Nifty Dividend Opportunities 50
z Nifty 200 Momentum 30 z Nifty Alpha Low Volatility (Multifactor)
portfolio’, making them ideal for long-term z Nifty 100 Quality 30 z Nifty 100 Low Volatility 30
wealth creation. z Nifty 100 Equal Weighted z Nifty 500 In %
Increasingly, multi-cap funds are also emerging 2019 2020 2021 2022 2023 2024
as a promising addition to your core portfolio.

Highest
Nifty 500 TRI Low Volatility Value Value Value Momentum
Going forward, expect some of them to make an 9.0 24.3 56.4 23.2 62.6 30

entry to our recommendations. Quality Quality Momentum Dividend Yield Dividend Yield Value
5.7 22.6 53.8 4.8 44.3 27
When you invest in growth funds, you’re
gaining exposure to India’s top 500 companies. Multifactor Nifty 500 TRI Dividend Yield Nifty 500 TRI Momentum Multifactor
5.3 17.9 34.0 4.2 41.7 25.3
About 64 per cent of them comprise large-cap
stocks, while 18 per cent constitutes mid caps Low Volatility Equal Weight Equal Weight Equal Weight Multifactor Dividend Yield
5.2 17.5 34.0 2.4 39.0 22.7
and small caps make up the rest.
Growth funds typically invest in a mix of Equal Weight Dividend Yield Nifty 500 TRI Low Volatility Quality Equal Weight
3.5 15.7 31.6 2.0 32.0 22.7
‘growth’ stocks (companies with strong growth
potential) and ‘value’ stocks (companies trading Dividend Yield Multifactor Multifactor Quality Low Volatility Nifty 500 TRI
0.8 15.7 30.9 -0.9 31.9 18.4
at attractive valuations), regardless of category.
Value Value Low Volatility Multifactor Equal Weight Quality
Each investing style performs differently over -13.7 8.5 24.2 -3.1 30.7 17.9
time. Notably, value investing, which had fallen

Lowest
Quality Momentum Nifty 500 TRI Low Volatility
out of favour between 2018 and 2020, has - -
22.2 -5.4 26.9 17.3
continued its impressive run this year, despite
Calendar year returns considered. Data for 2024 is up to October 23, 2024.
the rise of smart-beta factors.

Category snapshot for 2024

Parameters Large & mid cap Flexi cap Value Multi cap

Number of active growth funds 30 78 23 28

Assets (in ` lakh crore) 2.73 6.16 1.96 1.8

Asset-weighted expense (%) 0.69 0.73 0.8 0.65

Asset-weighted category returns (%) 27.53 24.75 27.98 29.36

Avg return of top quartile funds (%) 35.94 32.72 32.9 33.63

Avg return of bottom quartile funds (%) 22.29 18.39 22.83 23.3

Avg mid- & small-cap exposure (%) 37.69 31.77 34.77 48.12

Avg PSU exposure (%) 10.19 8.82 14.36 8.88

Three most popular funds HDFC, ICICI, HDFC, Quant, ICICI, Kotak, HDFC, Kotak,
SBI Parag Parikh SBI Nippon

Three least popular funds ABSL, Canara Robeco, Axis Focused, UTI, HDFC, UTI, Invesco, Tata,
Sundaram Mirae Focused Baroda BNP Paribas Sundaram
Returns are as of October 21, 2024. Expense and portfolio-level attributes are as of September 30, 2024. Popular funds based on net flows up to October 21, 2024.

38 Mutual Fund Insight December 2024

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  GOLD can act as a SHOCK ABSORBER for your portfolio
during the times of market volatility.
 Central Banks are increasing allocation to GOLD to diversify
their FX reserves. Source: World Gold Council -
https://bit.ly/4dsWurq, https://bit.ly/3WT1yOH.

Sundaram Multi Asset Allocation Fund

Based on the current market conditions GOLD allocation in the portfolio
will be maintained between 20 - 25%.

Portfolio Snapshot as of October 2024

Gross Equity: 65.46%

Derivatives: (7.26%)

Fixed Income: 11.23%

Cash & Others: 6.74%

Source: In-house

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 CATEGORY REVIEW

Highlights & trends A significant portion remains in large caps, and they
Performance: Growth funds have largely outperformed the continue to tilt towards this segment.
BSE 500, led by multi-cap funds, which beat the index by Increase in inflows: In recent times, growth funds have
6.77 per cent, due to a robust rally in mid- and small-cap attracted significant inflows. Since September 2023, multi-
stocks. They were followed by large & mid-cap and value cap funds have drawn inflows of nearly `40,000 crore, of
funds. While flexi-cap funds also outpaced the index, they which `7,000 crore came from six NFOs alone. Inflows
posted a more modest alpha of 3.31 per cent. into large & mid-cap funds also gained traction this
Sectoral shifts: Owing to a prolonged slump in the September, comprising 10 per cent of the total equity net
Financial Services sector, these funds have downsized flows of `34,000 crore for the month. By contrast, value-
their exposure. On the other hand, holdings in the Energy oriented and flexi-cap funds saw less interest as a rally in
and Services sectors have seen a steady rise this year. mid- and small-cap funds attracted more investors.

OUR TOP PICKS

Flexi-cap funds
Franklin India Flexi Cap 
z Since 2021, the fund has consistently outperformed its peers and the benchmark.
Its outperformance is primarily due to smartly blending stocks across market caps and selecting growth stocks
z
at fair valuations.
zIt has a knack for spotting high-growth companies and holding them for long. For instance, it has kept one third of its
portfolio intact for over four years, which helped push it into the top quartile over the last five years.

HDFC Flexi Cap 

z This fund has witnessed an impressive turnaround in its performance since early 2023.
z Its performance has been aided by value investing’s impressive run, strategic adjustments in the PSU sector and
introduction of new stocks by new management.

Parag Parikh Flexi Cap 

z The fund has outperformed its peers by an average of 6 per cent over any five-year period.
z It received over `15,000 crore in inflows in 2024, which further reinforced its top-dog status in its category.
 Presently, it is sitting on 18 per cent cash, the highest in its category. This cautious approach may cause it to
z
underperform in the short term, especially during rallies.

SBI Focused Equity 

z With an AUM of about `36,000 crore, the fund boasts the largest asset base in the focused category.
zLike many of its peers, the fund has a market cap mix leaning heavily toward large caps. Its stock selection in this segment
has tempered its performance. However, this large-cap tilt can prove beneficial for the fund if the segment gains momentum.
z Its recent underperformance also stems from missing the Energy sector rally, compounded by its
concentrated mandate.
z Yet, it has managed to beat the index and peers 84 per cent of the time over any five-year period.

Large & mid-cap funds

Kotak Equity Opportunities 
z The fund is known to consistently deliver top-tier performance over any five-year period by picking growth
stocks at reasonable prices, with a strong focus on large-cap stocks.
z It smartly adjusts its sectoral exposure for steady returns and good downside protection. Hence, the fund has
outperformed the market 87 per cent of the time during periods of negative market performance since 2019. However,
its conservative approach can sometimes hold it back in momentum-driven markets.

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 Kotak Multicap Fund
Get the power of all in one!

A fund that is a right mix of large cap, mid cap & small cap stocks that work
together as a dream team to create winning opportunities.
www.kotakmf.com | Toll free Number : 1800 309 1490 |

KOTAK MULTICAP FUND SCAN TO KNOW MORE

(An open ended equity scheme investing across large cap, mid cap, small cap stocks)

8LMWTVSHYGXMWWYMXEFPIJSVMRZIWXSVW[LSEVIWIIOMRK
• Long term capital growth.
• Investment in equity and equity related securities across market capitalisation.
Investors understand that their principal
will be at moderately very high risk
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

The above riskometer is based on the scheme portfolio as on 3WX 3GXSFIV 2024. An addendum may be issued or updated on the website for new riskometer.

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related documents carefully.
 CATEGORY REVIEW

Mirae Asset Large & Midcap 

z With an AUM of `40,670 crore, this fund is the largest in its category – nearly the size of over half
of its peers.
z The fund has consistently outperformed both the index and category over any five-year period.
z Its recent underperformance can be attributed to a heavy focus on Banking stocks, which have lagged, and a delayed
move into the Capital Goods sector, which is currently seeing a rally.
z As a result, the fund has started paring its stakes in Banking and Technology and moving towards sectors showing
strong growth.

Value funds
ICICI Pru Value Discovery 
z This fund invests around 75 per cent of its assets in the top 100 stocks at bargain prices, resulting in a lower P/E
(price-to-earnings) ratio than the market.
z Ranked among the top five value funds over the last five years, it has consistently outperformed its peers since 2020,
though it may lag behind in high-growth markets.
z The fund’s strength mainly lies in selectively investing in undervalued stocks and holding them for the long term, a
strategy that helped it boost returns over time.
z When valuations are elevated, the fund doesn’t hesitate to hold on to cash. Currently, its cash holdings stand at about
13 per cent.

Invesco India Contra 

zOver the past decade, the fund has secured its position as the second-best performer in the value category.
z Though it lagged behind its peers for the last three years, the fund made a remarkable comeback, outperforming its
category by 9 per cent.
z Its strong performance was driven by allocations in sectors like Healthcare, Capital Goods and Consumer Staples.

SBI Contra 

z Since Dinesh Balachandran took over the fund’s management in mid-2018, it has delivered impressively, thanks to a
dynamic market cap strategy.
z Owing to its stellar performance and a rise in investor inflows, the fund’s AUM has jumped over sixfold since
August 2022.
 In order to effectively manage its growing asset base, the fund has been increasingly diversifying its portfolio, 
z with
nearly two-thirds of it consisting of holdings below 1 per cent.

Tata Equity PE 

z The fund invests in stocks that have a P/E ratio trailing the broader equity market index (Sensex). Such stocks
constitute 70 per cent of its portfolio.
zIts investing strategy has led to an opportunity-rich selection, albeit with a higher turnover.
z With one-third of its holdings in the PSU sector, the fund has lagged behind the value index rally, but
still managed to deliver strong calendar-year returns. This, in turn, improved the fund’s long-term performance.

Funds at a glance SIP returns (%) Risk measures Portfolio

Sharpe Avg. no. Turnover Expense
Fund name Rating 3Y 5Y Risk grade Alpha ratio of stocks (%) Assets (` cr) ratio (%)
FLEXI CAP
360 ONE Focused Equity  23.5 24.3 Below avg. 1.3 0.8 30 38 8,177 0.87
Aditya Birla Sun Life Flexi Cap  23.3 22.4 High -0.5 0.7 73 40 23,905 0.91
Aditya Birla Sun Life Focused  22.6 21.7 Above avg. 0.0 0.7 28 23 8,230 0.91
Axis Flexi Cap  20.2 19.0 Above avg. -3.5 0.4 58 33 13,464 0.70

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 CATEGORY REVIEW
SIP returns (%) Risk measures Portfolio
Sharpe Avg. no. Turnover Expense
Fund name Rating 3Y 5Y Risk grade Alpha ratio of stocks (%) Assets (` cr) ratio (%)
Axis Focused  14.9 14.4 High -9.5 0.0 25 73 14,470 0.82
Bajaj Finserv Flexi Cap Unrated - - - - - 64 98 3,883 0.47
Bandhan Flexi Cap  20.8 20.4 Avg. -0.5 0.6 87 114 7,918 1.17
Bandhan Focused Equity  27.8 23.6 Avg. 2.8 0.8 27 89 1,794 0.82
Bank of India Flexi Cap  33.7 - Above avg. 7.1 1.1 65 91 1,918 0.54
Baroda BNP Paribas Focused  21.8 21.3 Below avg. 0.9 0.7 23 136 726 -
Canara Robeco Flexi Cap  21.2 21.5 Below avg. -0.6 0.6 66 33 13,713 0.57
Canara Robeco Focused Equity  25.2 - Below avg. 3.5 1.0 30 57 2,647 0.49
DSP Flexi Cap  25.5 23.6 Above avg. 0.5 0.7 55 30 12,416 0.72
DSP Focus  26.1 22.5 Above avg. 1.3 0.7 29 34 2,704 1.00
Edelweiss Flexi Cap  28.4 26.7 Avg. 4.0 1.0 67 42 2,439 0.43
Franklin India Flexi Cap  26.6 26.9 Avg. 3.4 1.0 51 28 18,252 0.92
Franklin India Focused Equity  23.2 24.9 Above avg. 2.3 0.9 29 20 13,050 0.95
HDFC Flexi Cap  30.1 29.9 Avg. 8.4 1.3 43 40 66,225 0.77
HDFC Focused 30  30.9 31.0 Below avg. 9.8 1.5 27 35 15,109 0.57
HDFC Retirement Savings Fund Equity Plan  26.9 28.3 Low 6.4 1.3 71 14 6,168 0.71
Helios Flexi Cap Unrated - - - - - 49 60 2,054 0.50
HSBC Flexi Cap  28.0 25.7 Below avg. 4.6 1.1 79 57 5,165 1.16
HSBC Focused  25.2 - Above avg. 1.5 0.8 28 41 1,824 0.90
ICICI Prudential Flexicap  27.3 - Low 6.0 1.2 61 42 17,761 0.79
ICICI Prudential Focused Equity  30.2 28.8 Below avg. 5.6 1.1 29 91 10,201 0.59
ICICI Prudential India Equity FOF  28.9 - Low 6.3 1.2 - - 153 0.61
ICICI Prudential Passive Strategy (FOF)  22.9 22.5 Below avg. 1.7 0.8 - - 182 0.21
ICICI Pru Retirement Fund - Pure Equity Plan  30.9 30.7 Low 10.3 1.3 71 32 1,035 0.73
Invesco India Flexi Cap Unrated - - - - - 65 92 2,250 0.61
Invesco India Focused  36.2 - Above avg. 6.3 1.1 20 69 3,250 0.58
JM Flexicap  37.7 32.9 Low 10.9 1.4 58 137 4,531 0.45
Kotak Flexicap  21.5 21.0 Avg. 0.4 0.7 55 19 53,844 0.60
Kotak Focused Equity  21.6 22.1 Below avg. 0.2 0.7 30 36 3,758 0.50
Mahindra Manulife Flexi Cap  23.4 - Below avg. 2.0 0.8 57 86 1,520 0.42
Mahindra Manulife Focused  28.6 - Below avg. 5.7 1.1 30 53 1,850 0.41
Mirae Asset Flexi Cap Unrated - - - - - 69 45 2,384 0.54
Mirae Asset Focused  17.1 19.1 Above avg. -3.7 0.3 30 34 8,653 0.59
Motilal Oswal Flexi Cap  33.2 25.2 Above avg. 5.2 1.0 23 139 12,564 0.88
Motilal Oswal Focused  19.7 18.1 Avg. -1.8 0.5 23 90 2,130 0.92
Motilal Oswal Nifty 500 Index  21.6 21.9 Above avg. -0.3 0.7 501 21 2,103 0.20
Nippon India Flexi Cap  24.2 - Avg. 2.3 0.9 88 9 8,739 0.45
Nippon India Focused Equity  20.6 23.2 High 0.2 0.7 28 46 8,979 1.16
Nippon India Retirement-Wealth Creation Scheme  25.8 24.1 High 2.1 0.9 57 45 3,501 0.98

Ratings, Returns, Risk measures and Expense ratio are as of October 31, 2024. Portfolio and Assets data are as of September 30, 2024. Alpha is based on calendar month returns for
the past three years and stock average is for the past one year. Newly-launched funds are excluded. Funds with an AUM less than `1,500 crore (as of September 30, 2024) are
excluded but those rated four and five stars are included.

44 Mutual Fund Insight December 2024

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 SAPNO KO SKIP NAHI,

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in Mutual Funds, procedure w.r.t. change of address, phone number, bank account details, etc. Investors should only deal with registered Mutual Funds,
details of which can be verified on the SEBI website (www.sebi.gov.in/intermediaries.html). For any queries, complaints and grievance redressal, investors
may reach out to the AMCS and/or Investor Relations Officer. Additionally, investors may also lodge complaints on https://scores.gov.in if they are unsatisfied
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are subject to market risks, read prohibited.
all scheme related documents carefully.
 CATEGORY REVIEW
SIP returns (%) Risk measures Portfolio
Sharpe Avg. no. Turnover Expense
Fund name Rating 3Y 5Y Risk grade Alpha ratio of stocks (%) Assets (` cr) ratio (%)
NJ Flexi Cap Unrated - - - - - 50 49 1,959 0.60
Parag Parikh Flexi Cap  25.6 26.2 Low 4.1 1.0 47 8 82,441 0.63
PGIM India Flexi Cap  17.7 21.3 Above avg. -3.2 0.4 60 55 6,704 0.43
Quant Flexi Cap Unrated 28.9 33.7 - 5.4 1.0 33 - 7,912 0.59
SBI Flexicap  18.4 19.6 Avg. -1.3 0.6 78 77 23,489 0.82
SBI Focused Equity  19.3 20.0 Avg. -1.0 0.5 21 28 36,367 0.74
SBI Retirement Benefit - Aggressive Plan  20.8 - Low 2.8 0.9 40 - 2,838 0.82
Sundaram Flexi Cap Unrated - - - - - 64 21 2,256 0.59
Tata Flexi Cap  22.3 20.8 Below avg. 0.5 0.7 54 38 3,140 0.66
Tata Focused Equity  24.5 - Avg. 2.0 0.8 29 42 1,957 0.61
Tata Retirement Savings - Progressive Plan  24.7 21.7 Below avg. 1.7 0.8 56 73 2,182 0.54
Union Flexi Cap  21.3 22.4 Avg. 0.1 0.7 64 189 2,355 0.88
UTI Flexi Cap  15.2 16.6 High -7.5 0.1 62 6 27,706 1.04
UTI Focused  22.6 - Below avg. 0.7 0.7 30 26 2,942 0.66
WhiteOak Capital Flexi Cap Unrated - - - - - 111 141 4,235 0.40
LARGE & MIDCAP
Aditya Birla Sun Life Equity Advantage  19.0 19.2 High -4.7 0.3 74 48 6,380 1.14
Axis Growth Opportunities  25.3 25.2 Above avg. 1.8 0.7 84 60 14,526 0.58
Bajaj Finserv Large and Mid Cap Unrated - - - - - 59 - 1,506 0.61
Bandhan Core Equity  33.4 30.4 Avg. 8.1 1.2 102 157 6,982 0.61
Canara Robeco Emerging Equities  24.2 24.2 Avg. 1.7 0.8 73 64 25,507 0.58
DSP Equity Opportunities  29.4 26.8 Above avg. 4.5 0.9 73 42 14,486 0.72
Edelweiss Large & Mid Cap  27.3 26.4 Below avg. 4.3 1.0 82 18 3,781 0.44
Franklin India Equity Advantage  22.1 22.8 Above avg. -0.4 0.6 47 101 3,798 1.27
HDFC Large and Mid Cap  28.5 29.0 Avg. 5.7 1.0 184 7 24,508 0.86
HSBC Large and Mid Cap  29.6 27.1 Avg. 6.8 1.1 85 92 3,718 0.90
ICICI Prudential Large & Mid Cap  28.8 29.3 Below avg. 7.0 1.2 82 64 17,464 0.81
Invesco India Large & Mid Cap  32.5 27.7 Avg. 6.0 1.0 61 82 6,493 0.64
Kotak Equity Opportunities  27.3 26.3 Low 6.0 1.1 67 26 26,175 0.50
LIC MF Large & Mid Cap  26.8 25.1 Avg. 3.7 0.9 72 79 3,235 0.59
Mahindra Manulife Large & Mid Cap  24.8 - Above avg. 3.3 0.9 61 155 2,628 0.45
Mirae Asset Large & Midcap  22.0 23.3 Avg. 0.5 0.7 86 86 40,670 0.61
Motilal Oswal Large and Midcap  39.1 33.8 Low 10.9 1.4 31 81 6,500 0.51
Nippon India Vision  28.1 26.5 Above avg. 4.6 1.0 76 125 5,619 1.45
Quant Large and Mid Cap  30.4 30.5 Avg. 9.0 1.1 25 - 3,828 0.61
SBI Large & Midcap  24.3 25.5 Low 4.6 1.0 79 27 29,234 0.70
Sundaram Large and Mid Cap  23.9 23.8 Above avg. 1.4 0.8 80 30 7,258 0.74
Tata Large & Mid Cap  23.9 23.8 Below avg. 4.5 1.0 49 11 8,677 0.63
UTI Large & Mid Cap  31.3 29.5 Avg. 6.1 1.1 59 47 4,086 1.11

Ratings, Returns, Risk measures and Expense ratio are as of October 31, 2024. Portfolio and Assets data are as of September 30, 2024. Alpha is based on calendar month returns for
the past three years and stock average is for the past one year. Newly-launched funds are excluded. Funds with an AUM less than `1,500 crore (as of September 30, 2024) are
excluded but those rated four and five stars are included.

46 Mutual Fund Insight December 2024

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 CATEGORY REVIEW
SIP returns (%) Risk measures Portfolio
Sharpe Avg. no. Turnover Expense
Fund name Rating 3Y 5Y Risk grade Alpha ratio of stocks (%) Assets (` cr) ratio (%)
WhiteOak Capital Large & Mid Cap Unrated - - - - - 105 - 1,517 0.38
MULTI CAP
Aditya Birla Sun Life Multi-Cap  25.5 - Below avg. 2.8 0.9 70 48 6,567 0.79
Axis Multicap Unrated - - - - - 91 60 6,817 0.71
Bandhan Multi Cap Unrated - - - - - 100 61 2,541 0.55
Baroda BNP Paribas Multi Cap  29.3 28.6 Avg. 4.2 1.0 61 116 2,811 -
Canara Robeco Multi Cap Unrated - - - - - 73 - 3,711 0.40
DSP Multicap Unrated - - - - - 56 7 1,664 0.52
Edelweiss Multi Cap Unrated - - - - - 97 - 2,512 0.26
Franklin India Multi Cap Unrated - - - - - 57 0.06 4,543 0.27
HDFC Multi Cap Unrated - - - - - 190 6 17,941 0.64
HSBC Multi Cap Unrated - - - - - 88 20 4,239 0.60
ICICI Prudential Multicap  29.9 28.2 Below avg. 5.5 1.1 112 94 14,691 0.93
Invesco India Multicap  29.5 27.5 Avg. 3.8 0.9 65 113 3,962 0.66
Kotak Multicap  34.2 - Avg. 8.3 1.2 65 60 15,421 0.38
Mahindra Manulife Multi Cap  28.5 29.5 Above avg. 4.1 0.9 63 135 4,869 0.45
Mirae Asset Multicap Unrated - - - - - 81 97 3,473 0.42
Motilal Oswal Multi Cap Unrated - - - - - 18 106 1,740 0.62
Nippon India Multi Cap  33.1 33.1 Low 10.7 1.4 105 21 39,622 0.73
Quant Active  23.0 29.6 High 2.8 0.8 49 - 11,229 0.58
SBI Multicap Unrated - - - - - 40 24 19,295 0.88
Sundaram Multi Cap  24.8 25.6 Above avg. 2.1 0.8 69 62 2,915 0.90
Tata Multicap Unrated - - - - - 66 33 3,365 0.48
VALUE ORIENTED
Aditya Birla Sun Life Pure Value  30.8 28.7 High 5.9 0.9 74 50 6,779 1.03
Bandhan Sterling Value  26.3 30.7 Above avg. 6.8 1.1 64 27 10,601 0.69
Baroda BNP Paribas Value Unrated - - - - - 50 85 1,654 -
Canara Robeco Value  28.2 - Below avg. 8.3 1.3 55 38 1,342 0.61
HDFC Capital Builder Value  27.5 26.4 Above avg. 4.6 0.9 78 17 7,883 0.98
HSBC Value  33.2 31.2 Avg. 8.9 1.2 68 20 14,123 0.78
ICICI Prudential Value Discovery  28.7 29.6 Low 9.4 1.4 67 58 51,198 1.00
Invesco India Contra  30.7 27.8 Below avg. 6.4 1.1 68 82 18,470 0.52
JM Value  36.9 32.9 Avg. 11.5 1.3 58 92 1,085 0.90
Kotak India EQ Contra  30.7 28.5 Below avg. 7.4 1.1 63 43 4,047 0.55
Nippon India Value  32.0 30.4 Above avg. 7.3 1.1 76 52 8,962 1.16
Quant Value Unrated - - - - - 24 - 2,121 0.45
SBI Contra  30.0 33.5 Low 10.6 1.4 87 16 41,327 0.59
Tata Equity PE  30.8 27.8 Below avg. 7.5 1.1 43 82 9,173 0.80
Templeton India Value  28.2 30.4 Above avg. 7.7 1.1 44 36 2,305 0.87
UTI Value  27.6 25.7 Below avg. 4.5 0.9 57 34 10,757 1.15

Ratings, Returns, Risk measures and Expense ratio are as of October 31, 2024. Portfolio and Assets data are as of September 30, 2024. Alpha is based on calendar month returns for
the past three years and stock average is for the past one year. Newly-launched funds are excluded. Funds with an AUM less than `1,500 crore (as of September 30, 2024) are
excluded but those rated four and five stars are included.

48 Mutual Fund Insight December 2024

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 BACK TO BASICS

The crucial role of debt in

your investment portfolio
A
s seasoned investors know, diversification is
key to building an investment portfolio. While
equities often steal the spotlight, debt
instruments are equally vital in creating a balanced
and resilient financial strategy. Let's explore why fixed-
income investments deserve your attention.
Debt instruments come in various forms, each
serving a unique purpose. While government securities
offer safety, fixed deposits provide stability and
predictable returns. Debt mutual fund schemes,
meanwhile, offer professional management.
Including debt in your portfolio may offer multiple
benefits. First and foremost, it can act as a cushion, interest rate scenarios, debt mutual fund investments may
mitigating portfolio risk. Debt instruments may also appreciate. However, these investments are not without
provide regular income, particularly attractive to risks. Interest rate fluctuations may impact bond prices.
those seeking steady cash flows; however, the same Credit risk may be a concern, especially with corporate
is also subject to market movement. Moreover, their bonds. Inflation may erode the real value of fixed returns.
low correlation with equity markets adds another Some debt instruments may also pose liquidity challenges.
layer of diversification. Short-duration debt funds can help mitigate interest
The ideal debt allocation varies across investor rate risk in rising interest rate environments. Debt plays
profiles. Conservative investors typically lean heavily different roles in varying market conditions. It's also
towards debt for its stability. Investors with a balanced crucial for portfolio rebalancing, allowing you to buy
approach may also maintain a mix of debt and equity equities at lower prices during market dips. Additionally,
allocation to temper equity volatility. Even aggressive when you have a lump sum to invest in equities, you
investors may benefit from a strategic debt component, can park it in a debt fund and gradually shift it to an
which can be a dry powder during market dips. equity fund through an STP (systematic transfer plan) to
Several factors influence optimal debt allocation. Age mitigate the risk of entering the market at a high.
and investment horizon may be crucial. Generally, your All things considered, debt is a cornerstone of a
debt allocation may increase as you near retirement. Your well-rounded investing approach. It offers stability,
risk tolerance and financial goals also play a role. Are you income and strategic advantages that can complement
looking for growth or regular income? The current equity investments. Regularly review and adjust your
economic environment and interest rate trends should also debt allocation as your life circumstances and market
be considered when making decisions on debt allocation. conditions change. Remember, achieving your
For most investors, debt mutual funds offer a way to financial goals isn't just about chasing high returns –
incorporate fixed-income investments. They provide it's about maintaining a balanced approach that can
professional management and diversification. In falling weather various market cycles.

Mutual Fund investors need to complete the Know Your Customer (KYC) process, which can be done by submitting completed KYC Form along with the required documents
at any AMC’s branch Office or Official Points of Acceptance. Please refer https://niveshguru.licmf.com/KYCredressal.aspx to know about KYC documentary requirement,
procedure for change of address, phone number, bank details etc. The investors are cautioned to invest only with SEBI registered Mutual Funds, the details of which can be
verified on SEBI’s website under ‘Intermediaries / Market Infrastructure Institutions’ (https://www.sebi.gov.in/intermediaries.html.) For any complaints and grievance redressal,
investors can contact the Investor Relations Officer of the respective AMC and if not satisfied with the resolution given by the AMC, he/she can approach SEBI by registering
the complaint on SEBI SCORES Portal (https://scores.sebi.gov.in/) and/or escalate the compliant through Online Dispute Resolution Portal (https://smartodr.in/login).
MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.

Mutual Fund Insight December 2024 49

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 INVESTORS’ JOURNEYS

SHYAMALI BASU

Wake up and smell the coffee

Markets have been rewarding so far. Yet, it’s time to tread cautiously now.

I
have a young investor as my client. He possible. Essentially, this is the time to have
started his savings meagrely with a post a mature, seasoned batsman on the pitch.
office recurring deposit. Once he met us, The same can be said about the equity
he initiated an SIP (systematic investment market. Until now, the market has allowed
plan) with a small amount. Over time, he every Tom, Dick and Harry to make money. It
increased it. In the last year and a half was neither all skill nor all luck. Most
though, he requested for withdrawals about investors just moved with the tide and
four times. I could deflect his redemption landed on better shores. However, now is the
request twice since he realised his need was time when the winds are changing; now is
frivolous and would disrupt his long-term the time to be cautious. The bloody fight in
compounding. This time, however, he the Middle East and the Indian government’s
wanted to withdraw money to invest in the reduced capex (capital expenditure) are a
Bajaj Housing IPO (initial public offering). concern. Sure, the robust monsoon may
I relented, given the positive market buzz provide a shot in the arm to the rural income
around it. A few days later, he tasted and help consumption bounce back in the
blood as the Bajaj Housing IPO doubled next half, but the world outside looks more
after the listing. vulnerable than before.
This newfound success woke up the So, hold on to someone who knows the
beast in him. Now, he wanted to invest markets better. Many investors are new to
in more IPOs. the market and oblivious to the painful
The idea behind writing about this Until now, downturns the market can take. Well, I know
incident is to share the mood of youngsters markets have I have written about the same market frenzy
dabbling in the stock market. Their cavalier allowed every in the last few articles, but it does not hurt
attitude reminded me of the wisdom parted Tom, Dick to repeat.
by two fund managers I admire the most. and Harry to The Defence sector can be a good example
Both used the analogy of cricket since it make money. for naive market optimists. Just a couple of
resonates with most of us. They said that But now, years back, it was the red-hot sector. Many
batters can adventurously flay the bowlers when the AMCs (mutual fund houses) who did not
when the pitch is flat. But when there’s some winds are have a defence fund were sending us leaflets
moisture on the wicket, it is time for the changing, it’s about the defence allocation they had in
same batters to show more respect to the time to be their other schemes. But fast-forward to now,
bowling. They should ideally defend, trust cautious. the defence index has plummeted around
their defence and take singles wherever 20 per cent, illustrating how mercurial the

50 Mutual Fund Insight December 2024

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 Illustration: Anand

equity market can be. The frenzy never I recently listened to a podcast by Howard
lasts forever. Marks, where he discusses five types of
money managers and how their performance
What to do now can be assessed by examining the correlation
The idea is not to discourage investors. You between their results and market returns
should know that longer-term macros hold during upturns and, more importantly,
promise. So, nothing changes for a seasoned As long as during downturns. He also emphasises the
investor. As long as they maintain a solid investors importance of selecting a manager who has
asset allocation, ensure their investments are have a solid experienced lower drawdowns than the
well diversified, set realistic return asset market. If you have the chance, I highly
expectations and stay disciplined, they will allocation, recommend tuning in to Marks’ episode
likely fare better. well- ‘How to Think About Risk’.
Therefore, all we need to do is recalibrate diversified
investments Shyamali has been navigating the asset
our expectations. We should seek out money management world for over 20 years,
managers who have the courage to resist the and stay working with everyone from the seasoned
allure of unrealistic returns, those who have disciplined, super wealthy to absolute beginners.
they will likely She has a knack for understanding the
experienced downturns, understand the
human side of investing and empathising
associated risks and avoid promising the fare better with investors, something that shines
moon on a stick. through in her writing.

Mutual Fund Insight December 2024 51

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 INVESTMENT ACORNS BY WHITEOAK

MANUJ JAIN, CFA

Are FIIs leaving India?

Amid rising outflows, certain sectors may make a recovery

T
he BSE 500, a popular Indian equity FIIs withdrew $10.6 billion between
market index, has seen a drawdown of February 2020 and April 2020 during the
8.2 per cent in October 2024. At the Covid-19 crisis.
time, we witnessed a net outflow of Despite the massive outflows, the equity
approximately `1 lakh crore, or $11.5 billion, market saw only an 8.2 per cent drawdown
from the Indian equity markets, marking one from September to October 2024, supported
of the largest FII (foreign institutional mainly by DII (domestic institutional investor)
investor) outflows in recent times. For buying. It appears unusual that even after
perspective, FIIs withdrew a net total of such large withdrawals, the recent market
about $15.4 billion between January 2008 correction is nowhere near the 66 per cent and
and March 2009 during the GFC (Global 37 per cent drawdowns seen during the GFC
Financial Crisis). In another instance, and Covid-19 crisis, respectively.

It’s not all gloom and doom

One of the highest outflows in absolute terms, but the true picture is seen by the percentage of average market capitalisation and FII holdings!
FII ownership of BSE 500 (%) BSE 500 BSE 500 Index
FII outflows Avg market Outflow as % of Index (peak (12 mths from
Start date End date Event ($ billion) cap ($ bn) avg market cap From To to trough, %) trough, in %)
Jan '08 Mar '09 Global Financial Crisis -15.4 1,000 -1.5 16.0 13.2 -66.0 127.6
Jul '11 Oct '11 US credit rating downgrade -2.7 1,315 -0.2 15.3 15.5 -13.1 18.6
Jun '13 Sep '13 Taper Tantrum -3.7 1,033 -0.4 19.5 19.4 -10.1 59.7
Apr '15 Feb '16 Yuan devaluation -7.8 1,500 -0.5 20.7 21.4 -16.4 32.5
Oct '16 Jan '17 Fed rate hikes / Demonetisation -5.3 1,604 -0.3 21.6 21.3 -10.8 43.0
Apr '18 Nov '18 NBFC crisis -7.9 2,139 -0.4 20.6 20.3 -7.8 15.1
Jun '19 Sep '19 Economic slowdown -5.0 2,007 -0.2 21.1 20.8 -10.0 10.0
Feb '20 Apr '20 Onset of Covid-19 -10.6 1,669 -0.6 21.2 19.8 -37.3 98.8
Nov '21 Jul '22 Geopolitical tensions -34.9 3,315 -1.1 20.5 18.1 -16.7 24.7
Sep '24 Oct '24 Currently ongoing -11.5 5,400 -0.2 18.3 - -8.2 -
Source: Factset and internal research of WhiteOak Capital and Yes Securities. Data as of October 31, 2024. All the figures above are approximate. For information purposes only.
Returns are absolute. WhiteOak Capital Mutual Fund/ WhiteOak Capital Asset Management Limited is not guaranteeing or assuring any return on investments in the above-
mentioned indices. Before making any investments, readers are advised to seek independent professional advice and verify the contents to arrive at an informed investment
decision. Past performance may or may not be sustained in the future and is not a guarantee of future returns.

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Understanding the reasons for the
softer-than-expected decline How much did key sectoral and market cap indices tumble
As of October 2024, Indian equity market While a few sectoral indices saw milder downturns, the rest witnessed steep
capitalisation hovered in the range of declines. By contrast, the broader market indices didn’t fall much.
$5.3 trillion to $5.5 trillion (or $5,300 billion to From 52-week
Index highs 1-year 2-year 3-year 5-year 10-year 15-year
$5,500 billion), depending on the day observed.
Of this, FIIs held around 17-18 per cent, Nifty 50 TRI -7.7 27.8 18.3 11.4 17.2 13.0 12.4
amounting to anywhere between $900 billion Nifty 100 TRI -8.2 32.7 19.4 12.3 17.6 13.5 12.8
and $1,000 billion. Therefore, an outflow of Nifty Midcap 150 TRI -8.6 42.8 33.2 22.6 29.0 19.4 17.3
$11.5 billion represents just over 1.2 per cent of Nifty Smallcap 250 TRI -9.0 43.8 35.4 23.2 30.6 16.7 15.1
FII holdings, or about 0.2 per cent of our average
Nifty 500 TRI -8.1 35.3 22.9 14.8 20.2 14.5 13.2
equity market capitalisation during this period.
Nifty Microcap 250 TRI -9.8 49.9 47.3 33.4 42.1 22.8 19.7
Nifty200 Value 30 TRI -11.0 63.9 51.2 34.2 32.8 15.3 14.0
How different sectors have been hit
The broader market does not fully reflect the pain Nifty 200 TRI -8.2 34.4 21.5 13.7 19.0 14.0 13.0
some investors experienced during this period. Nifty 200 Quality 30 Index TRI -8.1 35.4 23.9 15.5 18.7 14.2 16.7
As they say, the devil is in the details. While the Nifty India Defence TRI -26.4 98.4 68.1 70.3 53.5 - -
broader equity market indices fell 8-10 per cent, Nifty PSU Bank TRI -21.4 32.5 36.3 31.7 23.2 6.5 5.2
many sub-segments have seen declines of a larger Nifty Oil & Gas TRI -15.8 51.0 21.5 14.5 18.8 15.7 12.6
magnitude. Indices representing themes and
Nifty Realty TRI -15.1 68.6 51.7 25.6 30.2 18.1 3.8
sectors such as Defence, Public Sector
Nifty PSE TRI -14.5 75.1 56.7 37.8 28.2 14.3 9.8
Enterprises, Oil and Gas, Real Estate and other
high-beta segments have experienced substantial Nifty Auto TRI -13.8 47.7 36.5 29.5 25.7 12.6 16.9

corrections from their recent 52-week highs. Nifty Energy TRI -12.7 50.3 24.2 19.3 21.9 17.6 12.2
As shown in the table on the right, some Nifty Metal TRI -11.5 39.7 25.3 18.5 32.2 14.8 -
sectors fell by 15-26 per cent during this BSE Utilities TRI -11.5 78.0 27.9 28.5 31.4 16.4 9.1
period. Meanwhile, sectors like Healthcare, IT Nifty FMCG TRI -11.2 17.2 17.9 17.3 15.1 13.6 16.8
and Financial Services showed resilience, with
BSE Consu. Discretionary TRI -11.0 43.6 30.0 21.4 22.6 15.9 15.0
their sectoral indices down by 3-6 per cent.
Nifty Commodities TRI -10.8 42.1 25.3 16.4 23.0 14.2 -

Summing it up Nifty Infrastructure TRI -10.1 44.9 32.1 20.8 23.3 12.2 7.3

While the $11.5 billion net outflow by FIIs Nifty India Manufacturing TRI -10.0 50.0 32.0 22.4 26.3 14.7 13.9
appears significant at first glance, it’s essential NIFTY100 ESG TRI -8.1 33.6 19.7 11.3 18.8 14.3 -
to consider that our market capitalisation has Nifty Private Bank TRI -7.6 13.9 10.0 6.3 9.6 12.1 14.8
grown exponentially over the years. As a Nifty Bank TRI -6.6 19.6 12.1 8.1 12.2 12.6 12.9
result, this seemingly large amount is only a
Nifty Financial Services TRI -5.7 24.6 15.0 7.7 13.0 14.5 14.3
fraction of our total market capitalisation and
Nifty Healthcare TRI -4.5 54.1 32.0 19.2 26.1 10.7 15.5
FII holdings in the Indian equity market.
Rather than focusing on the absolute amount, Nifty IT TRI -3.0 39.9 23.3 8.4 25.3 16.8 17.1
Source: MFIE and internal research of WhiteOak Capital. Data as of October 25, 2024. For
one should look at relative figures – that is,
information purposes only. Returns up to one year are absolute, and more than one year are CAGR.
outflows or inflows as a percentage of average The sector(s) mentioned in this slide do not constitute any recommendation, and WhiteOak Capital
market capitalisation or FII holdings. Mutual Fund may or may not have any future positions in this sector(s). Past performance may or
may not be sustained in the future and is not a guarantee of future returns. Index performance
We can also see sector and theme rotation does not signify scheme performance.
in the market. Sectors, themes and investment
styles that traded well above their fair
valuations and performed exceptionally over Manuj Jain, a CFA charterholder, is a Director and Head of Product
the last three years saw corrections in recent and Strategies at WhiteOak Capital Asset Management Company. He
has been with the company for three years and has over 16 years of
months. Could this be a trigger for previously
experience in asset management. Part of the WhiteOak Capital Group,
underperforming themes to make a comeback? WhiteOak Capital Asset Management Company is the sponsoring
Only time will tell. entity of WhiteOak Capital Mutual Fund.

Mutual Fund Insight December 2024 55

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 THE PLAN

BAF: Your etiement BFF?

We compare balanced advantage funds and DIY portfolios to
determine which one can conveniently finance your retirement goals

By Pranit Mathur is when we compared them with two DIY (do-it-yourself)

strategies. One is a static 50:50 equity-debt split, and the

A
bhijeet, a recent retiree after a 35-year corporate second is a more conservative 30:70 mix. Let’s see which
career, has accumulated a retirement corpus of of the three options is a more able ally for a retiree.
`1 crore. He and his wife require about `5 lakh
annually, adjusted for inflation, to maintain their
lifestyle. With BAFs (balanced advantage funds, also
known as dynamic asset allocation funds) as a
potential solution for setting up an SWP (systematic
withdrawal plan), Abhijeet reached out to us to
determine if this option can provide sustainable
retirement income.
Before diving in, let’s understand why Abhijeet is
considering BAFs. For starters, BAFs invest in both
equity and debt, which is good because retirees should
put some money in equity even during retirement.
Also, since BAFs change their equity and debt balance
in-house, Abhijeet wants to leave the hassle of asset
allocation and rebalancing to them.

How much equity exposure suits your

retirement portfolio?
But can BAFs be a faithful retirement companion? This Illustration: Anand

Finding your risk sweet spot

How much equity exposure suits your retirement portfolio?

25 per cent equity 33 per cent equity 50 per cent equity 75 per cent equity 100 per cent equity

Portfolio volatility Low Moderate High Very high Extremely high

Risk-averse Medium-risk Moderate-aggressive Very aggressive

Aggressive investors
investors investors investors investors

Have high Have high Have negligible

Have low dependence Have low dependence
dependence on the dependence on dependence on
on the corpus on the corpus
corpus the corpus the corpus
Ideal for
Majorly dependent
No other source Have other sources Have other sources Have other sources
on the corpus for
of income of income of income of income
regular income

Low Moderate Very high Very high

High initial corpus
initial corpus initial corpus initial corpus initial corpus

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Balanced, BAF or conservative: The winning strategy retirees
Opting for a 50:50 or a conservative mix appears better, while the BAF approach tends to fall short in more ways than one

Particulars Final corpus Total withdrawals Withdrawal risk (%)* Recovery period after 2008 crash Max drawdown (%)

BAF strategy `1.89 crore 29.41 7 years -15.33

Balanced split `2.02 crore `1.29 crore 5.88 2 years -12.86

Conservative mix `1.81 crore 0.00 2 years -5.82

*The percentage of times one would withdraw above the ideal rate of 6 per cent from the corpus.
Regular plans considered. Tax implications have not been included. ICICI Pru Balanced Advantage Fund was selected for the BAF scenario since it is one of the oldest in the category.

BAF vs DIY portfolios volatility, the corpus may shrink for some time and
We examined the three strategies over a 16-year period their investors may end up withdrawing more than the
(2008–2024), covering significant market events like the prescribed limit.
2008 financial crisis and the 2020 Covid-19 crash. As for the third strategy (conservative mix), it
Strategy 1: Pure BAF strategy. Invested `1 crore in showed no withdrawal risk at all, thanks to its heavier
a balanced advantage fund, with annual withdrawals of debt allocation. However, this also limited the
`5 lakh, increasing by 5 per cent per year for inflation. potential growth of the corpus, making it more
Strategy 2: Balanced split (50:50 equity-debt). suitable for risk-averse retirees with a high reliance on
`1 crore split equally between an average flexi-cap stability over growth.
fund and an average short-duration debt fund. Annual
withdrawals of `5 lakh are increased by Final verdict
5 per cent per year for inflation. Withdrawals came For someone like Abhijeet, the balanced and
from the debt portion, and the portfolio was rebalanced conservative mix strategies may offer more peace of
annually to maintain the 50:50 ratio. mind than BAFs. Both offer greater stability, lower
Strategy 3: Conservative mix (30:70 equity-debt). 30 drawdowns and faster recovery times during market
per cent in an average flexi-cap fund and downturns. However, if you, unlike Abhijeet, do not
70 per cent in an average short-duration debt fund. want the hassle of splitting allocation and active
Annual withdrawals of `5 lakh increased by management, you may choose BAFs for retirement
5 per cent every year for inflation. Withdrawals came income. But do keep in mind that regulatory guidelines
from the debt portion, with annual rebalancing to keep for asset allocation in BAFs are flexible, so it’s
the 30:70 ratio. important to avoid funds with drastic shifts between
equity and debt.
The result
Performance-wise, the second strategy of the 50:50 split
comes out on top. Abhijeet should not forget these
The BAF approach comes second, but it showed 
z Withdrawal should be limited to no more than 6 per cent of
the corpus.
signs of higher volatility. For instance, the fund took
z Build a contingency fund: Set aside at least six months’ worth of
seven years to recover after the 2008 crash, compared expenses in liquid funds or sweep-in deposits.
to just two years for the other approaches. z Secure adequate health insurance: Cover all family members to
Worse, with BAFs, there’s a 30 per cent chance of protect your corpus from healthcare costs. Life insurance is only
exceeding the safe annual withdrawal limit of necessary if you have dependents.
6 per cent. Why? Since BAFs are prone to higher

Mutual Fund Insight December 2024 57

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 ASK
EXPERT ADVICE

How to become debt free? and investment opportunities.

If you have I'm paying off home, car and credit card Since small caps tend to be more
multiple loans, it’s loans with total monthly EMIs of `40,000. volatile and carry liquidity concerns,
best to clear the Suggest a strategy to help me clear off spreading the exposure to other market
expensive, high- my debts. caps mitigates these risks.
interest (credit - Anonymous As of September 30, 2024, 28 active
Loans consume future income, so small-cap funds, on average, allocated
card) loan first, as
eliminate the most financially draining 82 per cent of their assets to small-cap
it can hamper your
ones first. stocks and 13 per cent to mid-cap stocks.
finances in the Start by clearing your credit card loan, as Only six of them have over 15 per cent
long run it's typically the most expensive with a high exposure to mid caps. Further, only four
interest rate. Pay it off quickly, even if it funds, JM Small Cap, Tata Small Cap, SBI
requires taking up a part-time job or halting Small Cap and DSP Small Cap, have over
your investments. These loans are only 90 per cent exposure to small-cap stocks.
justifiable for emergencies and can severely
impact your finances if carried on for the Index funds NAV differences explained
long term. Once the credit card loan is Why do different index funds tracking the
settled, focus on clearing the car loan next. same index have varying NAVs?
Since vehicles are depreciating assets, it is - Anonymous
best to repay this loan as soon as possible. The NAV (net asset value) of index funds
Your home loan, however, can be can vary because different funds begin at
justified as it's tied to a long-term different times. For instance, an index
appreciating asset. Home loans usually fund launched in 2000 has had more time
have lower interest rates and provide tax to grow with market fluctuations than a
benefits, so continue paying this at a fund launched in 2022, resulting in a
normal pace. higher NAV for the older fund.
However, the actual NAV is not as
Small-cap funds’ composition significant as the fund’s performance
Many small-cap funds have exposure to relative to the index. Whether the NAV is
mid-cap companies. Why is that so? `10 or `100, your returns will grow
- Anonymous proportionately to the index’s movement.
Contrary to belief, small-cap funds don’t What you should focus on is the
The NAV of a mutual need to invest all their money in small- percentage change in the index, not the
fund only reflects its cap companies. That’s because market absolute value of the NAV. If an index like
regulator SEBI (Securities and Exchange the Sensex rises by 10 per cent, the `10
historical journey. It
Board of India) has allowed them some and `100 NAV index funds should also
is neither an
flexibility regarding capital allocation. appreciate by approximately 10 per cent.
indicator of its
By definition, these funds are required Therefore, regardless of the starting NAV,
future performance to invest at least 65 per cent of their your investment will perform in line with
nor potential assets in small caps. It’s up to the fund the index over time.
returns. manager to decide whether to allocate the In short, the NAV only reflects the
remaining 35 per cent to mid and large fund’s historical journey but not its future
caps, depending on market conditions performance or potential returns.

58 Mutual Fund Insight December 2024

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Investing property sale proceeds these funds mirror the indices, your
I am planning to invest `1.5 crore from performance matches the market. Though index
property sales in equities for 12 years. Investors seeking to outperform the funds offer
Please suggest some market might find them limiting. Since simplicity, they
suitable mutual funds, Watch video indices are typically market-cap-weighted, provide moderate
investment timelines and the funds are dominated by large
returns as their
views on the Nifty Midcap companies, while smaller companies with
performance
150 Index funds. growth potential may form only a tiny
If the property sale amount portion. Moreover, index funds must hold
mirrors indices.
represents 50-60 per cent of your total all stocks in the index, even potentially Thus, those
wealth, spread it over three years to underperforming ones, simply to seeking higher
cushion against market volatility. maintain accurate tracking. This could returns may find
However, if it’s only 10-15 per cent of total prove to be a drag on your overall them limiting.
wealth, stagger the money over six to portfolio performance.
12 months.
Given your long-term 12-year Safeguarding your investments
investment horizon, consider allocating How can investors avoid speculative traps?
20-50 per cent of the money to mid-cap, As an investor, you should
small-cap and micro-cap funds for growth safeguard your money by Watch video

potential while maintaining significant being vary of unsolicited

large-cap exposure for stability. While the financial advice, especially
Nifty Midcap 150 index funds offer a solid those coming from
passive option, actively managed mid- and aggressive salespeople
small-cap funds could provide more value pushing investments. Never share any
through selective stock picking. Hence, a personal information like your bank details
mix of both active and passive strategies or OTPs (one-time passwords). Treat
Avoid falling for
can create an optimal portfolio. suspicious communications or activities as
fraudulent until you can prove otherwise.
financial scams
Index funds as an investment option Take your time to verify the identity of by questioning
What are the pros and cons of investing in anyone claiming to represent official unsolicited
index funds? organisations. Fraudsters often vanish investment
Index funds offer simplicity when questioned. opportunities,
Watch video
by tracking established In essence, stay vigilant by (i) avoiding down-
market indexes like Nifty, protecting your financial information, loads from
Nifty Next 50 and Sensex. (ii) questioning unsolicited investment unknown sources
Their primary advantage is opportunities, (iii) avoiding downloads and verifying
lower costs due to passive from unknown sources and (iv) identities before
management while providing verifying identities before making making any
diversification and tax efficiency. transactions. Remember, if an
transactions
However, the main drawback of index investment opportunity seems too good
funds is settling for average returns. Since to be true, it likely is.

An Investor Education & Awareness Initiative by

A webinar series to discuss savings
and investment issues and answer
your questions

;VWVZ[`V\YX\LY`]PZP[! www.ValueResearchOnline.com/Hangouts

Mutual Fund Insight December 2024 59

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 SCOREBOARD Fund Classification
Category (No. of funds) AUM (` crore) Category (No. of funds) AUM (` crore)

EQUITY FUNDS Money market (23) 2,18,870

Funds investing in money-market instruments having maturity up to one year
Large cap (173) 1,102,733
Funds investing at least 80% in large caps Low duration (20) 1,04,662
Funds with a Macaulay duration between six and 12 months at the portfolio level
Large & mid cap (37) 2,74,077
Funds investing at least 35% each in large and mid caps Ultra short duration (25) 1,00,504
Funds with a Macaulay duration between three and six months at the portfolio level
Multi cap (34) 1,81,171
Funds investing at least 25% each in large, mid and small caps Liquid (50) 4,80,110
Funds investing in debt and money-market securities with maturity of up to 91 days
Mid cap (52) 4,09,617
Funds investing at least 65% in mid caps Overnight (36) 86,622
Funds investing in securities having maturity of one day
Small cap (43) 3,36,918
Funds investing at least 65% in small caps Dynamic bond (26) 34,792
Debt funds investing across durations
Flexi cap (98) 6,22,051
Funds investing at least 65% in equity with no particular cap on large, mid or small caps Corporate bond (21) 1,62,191
Funds investing at least 72% in AA+ and above-rated corporate bonds
Value-oriented (36) 1,98,449
Funds following the value strategy Credit risk (14) 21,320
Funds investing at least 58.5% in AA and below-rated corporate bonds
ELSS (39) 2,57,472
Funds with a lock-in of three years and tax benefit under Section 80C Banking and PSU Debt (22) 76,713
Funds investing at least 72% in the debt instruments of banks, PSUs,
International (68) 55,516
public financial institutions and municipal bonds
Funds investing predominantly in foreign equities
Floater (12) 52,191
Funds investing at least 58.5% in floating-rate instruments
SECTORAL/THEMATIC FUNDS (including fixed rate ones converted to floating rate)
Banking (59) 81,661 Gilt (30) 43,299
Funds investing at least 80% in the Banking sector Funds investing at least 80% in government securities
Infrastructure (22) 53,294 Gilt with 10-year constant duration (9) 8,245
Funds investing at least 80% in the Infra sector Funds investing at least 80% in government bonds such that the
Macaulay duration of the portfolio is 10 years
Pharma (26) 30,384
Funds investing at least 80% in the Pharma sector FMP (12) 144
Fixed maturity plans with a pre-defined term
Technology (29) 45,902
Funds investing at least 80% in the Technology sector Target Maturity (107) 1,99,422
A debt scheme which has a specific maturity and invests in bonds
Thematic (132) 2,02,189
whose maturity is in line with that of the underlying index
Funds investing at least 80% in a particular theme
Dividend Yield (10) 33,458
Funds investing majorly in dividend-yielding stocks HYBRID FUNDS
MNC (7) 16,903 Aggressive hybrid (44) 2,52,397
Funds investing at least 80% in MNC stocks Funds investing 65–80% in equity and the rest in debt
Energy (4) 24,610 Balanced hybrid (6) 10,995
Funds investing at least 80% in the Energy sector Funds investing at least 40–60% in equity and the rest in debt
PSU (8) 59,954 Conservative hybrid (31) 30,168
Funds investing at least 80% in public-sector companies Funds investing 10–25% in equity and the rest in debt
Consumption (25) 36,307 Equity savings (22) 41,130
Funds investing at least 80% in the consumption theme Funds investing at least 65% in equity and equity-related instruments
and at least 10% in debt
ESG (11) 12,189
Funds investing at least 80% in companies that score high on environmental, Arbitrage (30) 2,27,738
social and governance (ESG) factors Funds investing in arbitrage opportunities
Dynamic asset allocation (38) 2,97,499
Funds which dynamically manage the asset allocation between equity and debt
DEBT FUNDS
Multi asset allocation (40) 1,34,994
Long duration (9) 18,171
Funds investing in at least three different asset classes, with a minimum of 10% in each
Funds with a Macaulay duration of greater than seven years at the portfolio level
Medium to long duration (14) 11,679
Funds investing with a Macaulay duration between four and seven years at the COMMODITY FUNDS
portfolio level; under anticipated adverse situation, one year to seven years
Gold (36) 52,206
Medium duration (14) 25,617 Funds investing in gold
Funds with a Macaulay duration between three and four years at the portfolio level;
Silver (21) 12,853
under anticipated adverse situation, one year to four years
Funds investing in silver
Short duration (26) 1,13,289
Funds with a Macaulay duration between one year and three years at the portfolio level AUM data as of September 30, 2024

60 Mutual Fund Insight December 2024

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 SCOREBOARD Guide
Optimise your investments with clear, comprehensive mutual fund data
Serial Portfolio Composition Alpha
Number For equity funds, it shows the portfolio’s allocation in large-, Indicates value added (or
A serial mid-, small-cap stocks and cash/others. Value Research follows subtracted) by the fund
number is its own market-cap classification to arrive at this. The top vis-a-vis the benchmark,
generated for listed companies that constitute 70 per cent of the market cap for the risk taken. A
every fund and are classified as large caps. The ones that fall between positive alpha indicates
is the first 70-90 per cent of the total market cap are classified as that the fund has
column on the mid caps. The smallest listed companies that comprise the performed better than
Scoreboard. To remaining 10 per cent of the market cap are called small caps. expected, while a negative
locate a In the case of hybrid funds, alpha indicates the fund
specific fund, the minimum and maximum allocations has underperformed based
look for this to equity and debt over the past on the risk taken by the
number in the 12 months are displayed. For funds fund manager. It is
Index against launched within the last year, the available historical range is calculated using calendar
the name of provided. The equity exposure is shown net of derivatives month returns for the last
the fund. (unhedged portion). three years.

Performance Portfolio Composition (%)

Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Portfolio Composition

Credit Average Risk Grade Fund Rating Average

Quality Maturity Information Value Research Fund Risk Grade The Value Research fund rating Rating
Debt fund’s Weighted ratio measures a fund’s risk of loss, is a convenient composite The average
portfolio average Indicates focusing only on downside measure of returns and risk, of the
exposure across maturity excess volatility, unlike standard based on a quantitative monthly fund
three levels: of all debt returns gen- deviation and beta. It accounts system without any subjective ratings over
z High securities erated by a for absolute losses and periods components. It provides a the past three
Includes exposure held by fund relative of underperformance quick summary of a fund’s years. For
to government the fund. to the catego- compared to a risk-free historical performance relative newer funds,
securities and ry bench- investment. This reflects the to its peers, adjusted for risk. the available
corporate bonds mark and the risk of earning less than a For equity and hybrid funds, rating history
with the highest consistency guaranteed return, such as the system combines three- is used.
grade ratings such of that out- from a term deposit. Fund risk and five-year performance
as AAA, AAA+, performance. is calculated by comparing periods, while debt funds’
AAA-, A1, A1+, A higher monthly/weekly returns to the ratings are based on 18
P1+, AA+ and information risk-free return (State Bank’s months of weekly risk-
cash. ratio com- 45-180 days Term Deposit adjusted performance. Only
z Medium pared to Rate) and measuring equity funds with a minimum
Includes expo- other underperformance. Average three-year performance
sure to bonds schemes with underperformance is used to history are rated, and for debt
with medium the same derive a risk score, which is funds, the minimum is 18
grade ratings benchmark rated against the category months. A category must have
such as AA, AA-, reflects better average. The risk score of a at least 10 funds with an
A2+ and A2. risk-adjusted fund is then rated according average AUM of at least `5
z Low performance. to the following distribution: crore over the past six months
Includes portfolio It is calculat- High : Top 10% to be rated. The rating
exposure to ed using cal- Above Avg : Next 22.5% distribution is as follows:
bonds with low- endar month (+Avg)  : Top 10% funds
est grade ratings returns for  : Next 22.5%
Average : Middle 35%  : Middle 35%
such as A+, A, the past
A-, A3, BBB+, three years. Below Avg : Next 22.5%  : Next 22.5%
BBB, BBB-, BB+ (-Avg)  : Bottom 10%
and below. Low : Bottom 10% NR : Not Rated

Mutual Fund Insight December 2024 61

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 SCOREBOARD Equity Funds
Performance Portfolio Composition (%)
Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Equity: Large Cap

1 ABSL Frontline Equity 34.4 14.6 18.3 13.8 24 17 14 10 87 11 0 2 0.9 0.2 -Avg 1.01 31,389  2.9
2 Axis Bluechip 28.9 8.3 14.3 13.3 32 34 29 15 95 - - 5 -4.9 -1.3 Avg 0.70 36,109  3.2
3 Bajaj FinSrv Large Cap - - - - - - - - 92 3 - 5 - - - 0.61 1,224 NR -
4 Bandhan Large Cap 40.6 15.1 18.8 13.2 9 14 12 16 85 9 5 1 1.1 0.3 -Avg 0.92 1,745  3.6
5 Bank of India Bluechip 37.1 13.9 - - 15 23 - - 82 9 5 3 -0.1 0.0 +Avg 1.16 199  3.0
6 Baroda BNP Paribas Large Cap $ 40.7 16.9 19.3 14.8 7 9 9 5 88 5 - 7 3.0 0.8 Low 0.82 2,440  È 4.9
7 Canara Robeco Bluechip Equity 35.2 14.2 19.6 15.1 18 21 8 2 93 3 - 5 0.8 0.0 Low 0.48 15,312  4.7
8 DSP Top 100 Equity 40.7 16.6 16.6 12.4 8 10 22 22 82 7 2 10 2.7 0.5 Avg 1.08 4,613  1.8
9 Edelweiss Large Cap 34.9 16.3 19.2 14.6 21 11 10 7 90 6 1 3 2.4 1.0 -Avg 0.67 1,123  4.2
10 Franklin India Bluechip 33.1 11.7 17.4 12.4 28 29 19 21 86 10 - 4 -1.4 -0.7 -Avg 1.10 8,375  2.2
11 Groww Large Cap 35.0 13.8 15.3 13.4 19 24 26 12 92 4 3 2 0.0 -0.1 Avg 1.03 133  1.8
12 HDFC Top 100 33.3 17.8 18.4 13.4 27 7 13 13 96 - - 4 3.7 1.1 Avg 1.01 38,684  2.8
13 HSBC Large Cap 36.6 14.7 17.6 13.4 16 16 17 14 85 13 - 1 0.7 0.2 Avg 1.20 2,039  2.6
14 ICICI Pru Bharat 22 FOF 52.9 35.6 25.2 - 2 1 1 - 92 7 0 0 18.3 2.0 Avg 0.12 2,183  3.5
15 ICICI Pru Bluechip 37.7 17.8 20.3 15.0 12 6 4 3 86 3 0 11 4.2 1.0 Low 0.87 66,207  4.7
16 ICICI Pru Nifty 100 Low Vol 30 ETF FOF 33.4 15.4 - - 26 12 - - 100 - - 0 2.0 0.2 -Avg 0.14 1,415  3.0
17 ICICI Pru Nifty Alpha Low-Vol 30 ETF FOF 45.9 18.7 - - 3 5 - - 98 2 - 0 4.2 0.7 +Avg 0.10 791  Ç 4.5
18 Invesco India Largecap 40.4 15.4 19.7 14.9 11 13 6 4 86 10 3 1 1.3 0.4 -Avg 0.72 1,290  4.1
19 ITI Large Cap 34.9 13.7 - - 22 26 - - 82 7 6 4 0.0 -0.1 Avg 0.50 370  2.9
20 JM Large Cap 40.5 17.7 19.7 13.0 10 8 7 18 86 9 3 2 3.8 0.7 Low 0.66 429  4.3
21 Kotak Bluechip 35.0 14.5 18.9 14.6 20 19 11 8 87 9 1 4 0.9 0.1 Low 0.60 9,806  4.4
22 LIC MF Large Cap 32.6 11.3 15.9 12.6 29 31 25 20 83 4 11 1 -2.2 -1.1 Avg 1.01 1,588  2.8
23 Mahindra Manulife Large Cap 33.5 13.7 17.7 - 25 25 15 - 85 8 2 5 0.1 -0.1 -Avg 0.67 596  3.9
24 Mirae Asset Equity Allocator FoF 34.7 14.8 - - 23 15 - - 88 12 - 0 0.7 0.4 -Avg 0.05 897  È 3.9
25 Mirae Asset Large Cap 28.8 11.8 16.4 14.7 33 28 23 6 86 12 2 1 -1.3 -0.8 -Avg 0.55 42,179  3.7
26 Mirae Asset Nifty 200 Alpha 30 ETF FoF - - - - - - - - 97 3 - 0 - - - 0.08 177 NR -
27 Motilal Oswal Large Cap - - - - - - - - 81 11 6 2 - - - 0.77 1,266 NR -
28 Nippon Ind Nifty Next 50 Junior BeES FoF 59.4 19.0 20.0 - 1 4 5 - 100 - - 0 3.5 0.6 High 0.13 525  2.8
29 Nippon India Large Cap 37.5 20.8 20.9 15.5 14 3 3 1 89 9 0 2 6.3 1.9 Avg 0.67 34,432  3.5
30 PGIM India Large Cap 25.4 11.1 14.8 12.2 37 32 28 23 96 3 - 2 -2.1 -0.9 Avg 0.87 633  È 2.1
31 Quant Focused 43.0 21.1 23.9 18.1 5 2 2 - 90 5 - 5 6.2 0.8 Avg 0.66 1,183  4.8
32 Quant Large Cap 44.3 - - - 4 - - - 85 12 - 3 - - - 0.55 2,416 NR -
33 Quantum Nifty 50 ETF FoF 28.1 - - - 35 - - - 100 - - 0 - - - 0.06 23 NR -
34 SBI Bluechip 29.9 13.9 17.6 14.3 30 22 16 9 86 9 - 4 0.6 -0.1 -Avg 0.81 53,276  3.3
35 Sundaram Large Cap 28.6 13.2 16.7 13.0 34 27 21 17 96 2 - 2 -0.3 -0.4 -Avg 0.61 3,703  4.1
36 Tata Large Cap 35.5 14.5 17.6 13.7 17 18 18 11 90 6 2 3 0.6 0.2 Avg 1.03 2,531  3.0
37 Taurus Large Cap 37.5 14.3 15.3 10.8 13 20 27 24 87 7 4 3 -0.4 0.1 +Avg 2.48 53  1.0
38 Union Largecap 29.0 11.3 16.4 - 31 30 24 - 93 3 - 3 -1.9 -0.9 Avg 1.58 435  2.6
39 UTI Large Cap 28.0 11.0 17.1 12.9 36 33 20 19 87 9 1 3 -2.3 -1.0 Avg 0.93 13,987  3.4
40 WhiteOak Capital Large Cap 40.8 - - - 6 - - - 86 6 2 6 - - - 0.65 640 NR -
Equity: Large Cap 36.4 15.4 18.2 13.6 37 34 29 24 89 7 3 3 1.5 0.2 0.74 9,660
BSE 100 TRI 32.2 14.0 17.8 13.3
Equity: Large & Mid Cap
41 ABSL Equity Advantage 33.4 9.7 17.3 14.2 25 26 23 14 51 42 6 1 -4.7 -0.9 High 1.14 6,380  1.3
42 Axis Growth Opportunities 40.7 16.1 23.5 - 16 20 7 - 75 21 2 2 1.8 0.2 +Avg 0.58 14,526  3.8
43 Bajaj FinServ Large and Mid Cap - - - - - - - - 60 33 1 6 - - - 0.61 1,506 NR -
44 Bandhan Core Equity 51.5 24.1 25.0 17.6 3 3 3 3 56 29 11 4 8.1 1.7 Avg 0.61 6,982  3.2
45 Bank of India Large & Mid Cap Equity 40.3 17.1 21.2 13.7 18 18 19 15 57 32 10 1 2.1 0.5 +Avg 1.35 378  È 2.4
46 Baroda BNP Paribas Large & Mid Cap $ 48.8 19.3 - - 5 13 - - 60 34 1 5 4.1 0.7 High 0.82 1,470  2.9
47 Canara Robeco Emerging Equities 41.9 16.1 22.6 18.6 13 21 11 2 58 37 1 4 1.7 0.3 Avg 0.58 25,507  Ç 3.4
48 DSP Equity Opportunities 47.3 19.7 22.5 17.2 8 10 12 6 61 34 2 3 4.5 0.9 +Avg 0.72 14,486  3.0
49 Edelweiss Large & Mid Cap 43.7 19.4 23.3 16.7 12 12 9 8 60 35 4 2 4.3 1.0 -Avg 0.44 3,781  3.8
50 Franklin India Equity Advantage 36.7 13.9 19.2 13.3 21 25 22 17 64 33 1 1 -0.4 -0.2 +Avg 1.27 3,798  1.5
51 HDFC Large and Mid Cap 41.1 21.4 24.4 14.5 15 8 6 13 59 36 3 3 5.7 1.5 Avg 0.86 24,508  3.4
Equity: Large & Mid Cap 43.0 18.9 22.7 16.2 26 26 23 17 60 32 4 4 4.0 0.7 0.72 9,100
BSE Large Mid Cap TRI 34.4 14.8 18.5 13.8
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31 2024. $ Expense as of September 30, 2024

62 Mutual Fund Insight December 2024

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 Performance Portfolio Composition (%)
Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Equity: Large & Mid Cap

52 HSBC Large and Mid Cap 48.0 21.7 21.8 - 7 5 16 - 67 25 6 2 6.8 0.9 Avg 0.90 3,718  2.5
53 ICICI Pru Large & Mid Cap 44.4 21.8 24.7 15.9 11 4 5 11 59 28 3 11 7.0 1.3 -Avg 0.81 17,464  È 3.8
54 Invesco India Large & Mid Cap 54.4 21.6 21.9 17.5 2 6 14 5 53 39 5 3 6.0 1.2 Avg 0.64 6,493  2.8
55 ITI Large & Mid Cap - - - - - - - - 48 24 10 18 - - - 0.37 781 NR -
56 Kotak Equity Opportunities 41.5 20.9 23.4 17.5 14 9 8 4 63 35 0 2 6.0 1.3 Low 0.50 26,175  4.3
57 LIC MF Large & Mid Cap 47.3 18.2 21.4 - 9 16 17 - 52 32 14 1 3.7 0.5 Avg 0.59 3,235  2.9
58 Mahindra Manulife Large & Mid Cap 37.1 18.0 - - 20 17 - - 64 31 4 1 3.3 0.6 +Avg 0.45 2,628  3.7
59 Mirae Asset Large & Midcap 34.8 14.9 22.2 20.0 23 24 13 1 64 33 3 1 0.5 0.0 Avg 0.61 40,670  4.3
60 Motilal Oswal Large and Midcap 60.7 26.8 27.6 - 1 1 1 - 54 41 5 1 10.9 1.5 Low 0.51 6,500  4.6
61 Navi Large & Midcap 31.6 15.1 20.2 - 26 23 21 - 52 37 8 3 0.8 0.1 High 0.35 333  2.9
62 Nippon India Vision 45.7 19.6 21.9 13.4 10 11 15 16 75 24 - 1 4.6 1.3 +Avg 1.45 5,619  1.7
63 PGIM India Large and Mid Cap - - - - - - - - 73 23 - 3 - - - 0.61 567 NR -
64 Quant Large & Mid Cap 50.1 25.6 27.3 20.3 4 2 2 - 71 26 - 3 9.0 1.2 Avg 0.61 3,828  4.5
65 SBI Large & Midcap 37.6 19.0 22.6 16.6 19 14 10 9 55 36 6 3 4.6 0.8 Low 0.70 29,234  4.3
66 Sundaram Large & Midcap 40.3 16.2 21.4 17.1 17 19 18 7 69 28 0 3 1.4 0.3 +Avg 0.74 7,258  2.8
67 Tata Large & Midcap 36.0 18.7 20.9 16.0 22 15 20 10 51 40 4 6 4.5 0.8 -Avg 0.63 8,677  3.4
68 Union Large & Midcap 33.6 15.2 - - 24 22 - - 68 24 5 3 1.3 0.0 Avg 0.89 881  È 2.5
69 UTI Large & Mid Cap 48.5 21.5 24.9 15.1 6 7 4 12 52 36 6 6 6.1 1.4 Avg 1.11 4,086  2.7
70 WhiteOak Capital Large & Mid Cap - - - - - - - - 65 29 2 5 - - - 0.38 1,517 NR -
Equity: Large & MidCap 43.0 18.9 22.7 16.2 26 26 23 17 60 32 4 4 4.0 0.7 0.72 9,100
BSE Large Mid Cap TRI 34.4 14.8 18.5 13.8
Equity: Flexi Cap
71 360 ONE FlexiCap 51.2 - - - 6 - - - 54 35 8 3 - - - 0.40 1,084 NR -
72 360 ONE Focused Equity 36.5 16.5 23.1 17.9 43 27 9 3 71 22 4 4 1.3 0.2 -Avg 0.87 8,177  4.8
73 ABSL Bal Bhavishya Yojna 31.6 13.9 14.7 - 65 52 47 - 56 27 16 1 -0.7 -0.5 Avg 0.78 1,152  1.2
74 ABSL Flexi Cap 39.1 14.8 19.6 15.6 32 42 21 11 76 20 3 1 -0.5 -0.3 High 0.91 23,905  2.7
75 ABSL Focused 38.6 14.9 18.7 14.1 33 40 24 22 82 14 - 4 0.0 -0.2 +Avg 0.91 8,230  2.8
76 ABSL Retirement 30s 36.8 14.6 15.2 - 40 43 46 - 59 26 13 3 0.2 -0.3 Avg 1.16 423  1.3
77 Axis Equity ETFs FoF 33.8 - - - 59 - - - 90 6 - 4 - - - 0.14 24 NR -
78 Axis Flexi Cap 37.7 10.9 16.8 - 36 60 42 - 74 19 3 4 -3.5 -0.8 +Avg 0.70 13,464  È 2.9
79 Axis Focused 31.4 5.1 13.1 14.1 66 63 49 21 90 6 - 3 -9.5 -1.3 High 0.82 14,470  2.0
80 Bajaj FinServ Flexi Cap 42.6 - - - 22 - - - 58 25 12 5 - - - 0.47 3,883 NR -
81 Bandhan Flexi Cap 34.3 14.3 16.8 13.1 57 49 41 30 78 16 4 3 -0.5 -0.3 Avg 1.17 7,918  2.1
82 Bandhan Focused Equity 48.9 17.8 19.7 13.9 10 19 19 25 60 27 12 1 2.8 0.3 Avg 0.82 1,794  2.4
83 Bank of India Flexi Cap 56.1 23.9 - - 3 5 - - 50 28 15 7 7.1 1.2 +Avg 0.54 1,918  4.0
84 Baroda BNP Paribas Flexi Cap $ 41.8 - - - 24 - - - 66 28 2 4 - - - 0.92 1,395 NR -
85 Baroda BNP Paribas Focused $ 36.3 15.8 18.7 - 45 32 25 - 85 9 - 5 0.9 0.0 -Avg 0.43 726  3.1
86 Canara Robeco Flexi Cap 36.6 14.1 20.2 14.9 42 51 18 18 78 19 - 4 -0.6 -0.5 -Avg 0.57 13,713  3.8
87 Canara Robeco Focused Equity 41.3 18.2 - - 26 17 - - 81 12 1 6 3.5 0.5 -Avg 0.49 2,647  4.0
88 DSP Flexi Cap 39.4 15.9 20.5 15.7 30 30 16 10 62 30 6 3 0.5 0.1 +Avg 0.72 12,416  3.3
89 DSP Focus 42.5 16.9 17.7 13.9 23 26 35 24 56 34 3 7 1.3 0.2 +Avg 1.00 2,704  2.0
90 Edelweiss Flexi Cap 48.6 19.9 22.6 - 11 14 10 - 81 15 2 2 4.0 1.1 Avg 0.43 2,439  3.3
91 Edelweiss Focused 43.6 - - - 20 - - - 88 9 0 2 - - - 0.66 931 NR -
92 Franklin India Flexi Cap 40.1 18.8 23.4 16.1 28 16 8 7 81 13 3 4 3.4 0.9 Avg 0.92 18,252  3.6
93 Franklin India Focused Equity 36.2 17.3 21.6 16.2 46 23 12 6 83 13 1 3 2.3 0.3 +Avg 0.95 13,050  3.6
94 HDFC Flexi Cap 45.0 24.3 23.8 15.9 16 4 7 9 76 8 3 13 8.4 1.7 Avg 0.77 66,225  3.4
95 HDFC Focused 30 44.8 25.3 24.1 15.2 18 3 6 15 71 9 7 14 9.8 1.7 -Avg 0.57 15,109  3.3
96 HDFC Retirement Savings Equity 36.9 21.1 25.4 - 38 10 5 - 64 16 11 9 6.4 1.2 Low 0.71 6,168  4.8
97 Helios Flexi Cap - - - - - - - - 63 28 8 2 - - - 0.50 2,054 NR -
98 HSBC Flexi Cap 46.1 19.9 20.8 14.4 13 15 14 20 62 28 10 1 4.6 1.0 -Avg 1.16 5,165  2.7
99 HSBC Focused 40.9 16.1 - - 27 29 - - 58 30 8 4 1.5 0.1 +Avg 0.90 1,824  2.3
100 ICICI Pru BSE 500 ETF FOF 35.2 - - - 48 - - - 80 18 2 0 - - - 0.13 128 NR -
101 ICICI Pru Flexicap 41.7 20.8 - - 25 11 - - 68 16 14 3 6.0 0.9 Low 0.79 17,761  4.0
102 ICICI Pru Focused Equity 49.1 21.4 25.5 15.5 9 8 3 12 83 14 - 4 5.6 1.1 -Avg 0.59 10,201  3.8
Equity: Flexi Cap 38.6 16.5 19.4 15.0 79 63 49 32 67 21 8 5 1.5 0.1 0.77 7,349
BSE 500 TRI 35.9 15.6 19.8 14.3
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31 2024. $ Expense as of September 30, 2024

Mutual Fund Insight December 2024 63

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 SCOREBOARD Equity Funds
Performance Portfolio Composition (%)
Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Equity: Flexi Cap

103 ICICI Pru India Equity FOF 45.3 21.4 - - 14 9 - - 73 13 4 10 6.3 1.1 Low 0.61 153  5.0
104 ICICI Pru Passive Strategy (FOF) 35.0 16.2 18.4 13.7 50 28 28 - 90 7 1 3 1.7 0.1 -Avg 0.21 182  2.9
105 ICICI Pru Retirement Pure Equity 50.8 25.6 25.5 - 8 2 4 - 64 21 6 9 10.3 1.0 Low 0.73 1,035  4.7
106 Invesco India Flexi Cap 51.6 - - - 5 - - - 63 23 11 4 - - - 0.61 2,250 NR -
107 Invesco India Focused 67.5 22.3 - - 1 6 - - 69 22 3 6 6.3 0.8 +Avg 0.58 3,250  3.5
108 ITI Flexi Cap 51.0 - - - 7 - - - 50 26 22 2 - - - 0.39 1,285 NR -
109 ITI Focused Equity 44.8 - - - 17 - - - 60 32 3 4 - - - 0.48 514 NR -
110 JM Flexicap 57.2 27.7 25.8 19.0 2 1 2 2 47 32 20 1 10.9 1.9 Low 0.45 4,531  4.0
111 JM Focused 43.9 20.3 17.6 15.2 19 13 36 16 61 26 9 4 4.9 0.7 +Avg 0.82 177  1.8
112 Kotak Flexicap 34.7 15.4 17.9 15.5 54 34 31 14 78 20 - 2 0.4 -0.1 Avg 0.60 53,844  3.0
113 Kotak Focused Equity 36.9 15.0 19.6 - 37 38 20 - 82 17 - 1 0.2 -0.2 -Avg 0.50 3,758  3.1
114 LIC MF Children's 27.7 12.2 13.6 10.2 76 55 48 - 56 13 21 11 -1.3 -0.8 +Avg 1.68 17  1.3
115 LIC MF Flexi Cap 34.9 15.0 17.5 12.1 52 39 38 31 41 27 29 2 0.1 -0.2 Avg 1.35 1,135  2.3
116 LIC MF Focused 29.0 11.7 16.8 - - - - - 64 13 20 3 -2.6 -0.8 - 1.56 154 NR -
117 Mahindra Manulife Flexi Cap 33.5 17.6 - - 61 22 - - 66 24 8 2 2.0 0.5 -Avg 0.42 1,520  3.0
118 Mahindra Manulife Focused 45.1 21.7 - - 15 7 - - 88 7 3 2 5.7 1.2 -Avg 0.41 1,850  4.0
119 Mirae Asset Flexi Cap 33.6 - - - 60 - - - 68 23 8 1 - - - 0.54 2,384 NR -
120 Mirae Asset Focused 30.3 9.5 18.5 - 69 61 26 - 39 45 11 5 -3.7 -1.1 +Avg 0.59 8,653  Ç 3.3
121 Motilal Oswal Flexi Cap 54.4 20.3 18.0 16.6 4 12 30 4 62 8 1 28 5.2 0.6 +Avg 0.88 12,564  1.4
122 Motilal Oswal Focused 31.3 12.5 15.8 14.0 67 54 44 23 27 48 24 1 -1.8 -0.4 Avg 0.92 2,130  2.3
123 Navi Flexi Cap 29.6 14.5 18.5 - 72 45 27 - 58 20 12 10 -0.4 -0.3 +Avg 0.43 281  2.9
124 Nippon India Flexi Cap 35.2 17.7 - - 49 20 - - 67 23 7 3 2.3 0.4 Avg 0.45 8,739  4.0
125 Nippon India Focused Equity 30.0 15.2 21.2 15.5 70 35 13 13 54 27 11 8 0.2 -0.1 High 1.16 8,979  3.1
126 Nippon India Passive Flexicap FoF 35.7 15.1 - - 47 37 - - 77 20 2 1 -0.4 -0.2 +Avg 0.22 251  3.0
127 Nippon India Retirement Wealth Creation 39.2 17.9 17.7 - 31 18 33 - 73 22 5 1 2.1 0.8 High 0.98 3,501  1.5
128 NJ Flexi Cap 43.6 - - - 21 - - - 64 34 0 2 - - - 0.60 1,959 NR -
129 Old Bridge Focused Equity - - - - - - - - 38 29 23 10 - - - 1.24 808 NR -
130 Parag Parikh Flexi Cap 36.9 17.3 25.8 19.1 39 24 1 1 71 9 1 19 4.1 0.2 Low 0.63 82,441  5.0
131 PGIM India Flexi Cap 30.7 11.1 22.3 - 68 59 11 - 73 23 2 2 -3.2 -0.8 +Avg 0.43 6,704  4.4
132 Quant Flexi Cap 48.0 22.5 33.3 20.9 12 - - - 74 16 2 8 5.4 0.8 - 0.59 7,912 NR -
133 Quantum Equity FoF 36.8 14.4 17.7 13.5 41 48 34 27 71 23 2 4 -0.3 -0.5 Avg 0.51 136  2.4
134 Samco Flexi Cap 15.5 - - - 79 - - - 39 61 - 0 - - - 0.93 656 NR -
135 SBI Flexicap 29.9 12.7 17.3 15.1 71 53 39 17 64 24 9 2 -1.3 -0.8 Avg 0.82 23,489  3.0
136 SBI Focused Equity 28.9 11.4 18.4 16.0 74 58 29 8 60 26 1 13 -1.0 -0.5 Avg 0.74 36,367  3.4
137 SBI Retirement Benefit Aggressive 29.2 17.1 - - 73 25 - - 63 29 6 2 2.8 0.2 Low 0.82 2,838  4.0
138 Shriram Flexi Cap 36.4 15.2 16.8 - 44 36 43 - 54 35 7 3 0.3 -0.1 Avg 0.78 138  2.2
139 Sundaram Flexi Cap 32.0 - - - 63 - - - 77 16 5 2 - - - 0.59 2,256 NR -
140 Sundaram Focused 34.7 14.4 20.2 14.6 55 47 17 19 83 8 5 4 -0.6 -0.3 Avg 1.25 1,173  3.5
141 Tata Flexi Cap 33.8 14.6 17.6 - 58 44 37 - 57 29 8 6 0.5 -0.2 -Avg 0.66 3,140  2.8
142 Tata Focused Equity 37.9 17.6 - - 35 21 - - 65 23 7 5 2.0 0.6 Avg 0.61 1,957  3.4
143 Tata Retirement Savings Progressive 38.3 15.8 17.9 16.2 34 31 32 5 51 30 12 6 1.7 0.0 -Avg 0.54 2,182  2.8
144 Tata Young Citizens 28.8 14.1 19.4 13.3 75 50 - - 55 20 18 7 -0.7 -0.4 +Avg 1.89 390  2.8
145 Taurus Flexi Cap 34.7 14.9 15.5 10.5 56 41 45 32 67 18 12 3 -1.0 -0.1 High 2.60 393  1.0
146 TRUSTMF Flexi Cap - - - - - - - - 57 23 12 8 - - - 0.49 765 NR -
147 Union Children's - - - - - - - - 67 12 16 4 - - - 0.86 60 NR -
148 Union Flexi Cap 31.6 14.5 20.7 13.2 64 46 15 29 71 12 12 5 0.1 -0.3 Avg 0.88 2,355  4.0
149 Union Focused 27.3 11.7 18.8 - 78 57 23 - 78 6 11 6 -1.8 -0.8 Avg 1.51 429  3.4
150 Union Retirement 35.0 - - - 51 - - - 71 11 14 3 - - - 1.16 155 NR -
151 UTI Children's Equity 32.6 12.2 18.8 13.7 62 56 22 26 69 26 3 2 -2.5 -0.7 +Avg 1.19 1,200  2.6
152 UTI Flexi Cap 27.6 6.6 17.2 13.2 77 62 40 28 67 27 2 4 -7.5 -1.2 High 1.04 27,706  2.9
153 UTI Focused 34.7 15.6 - - 53 33 - - 81 17 - 2 0.7 0.0 -Avg 0.66 2,942  È 3.3
154 WhiteOak Capital Flexi Cap 39.6 - - - 29 - - - 61 23 11 6 - - - 0.40 4,235 NR -
Equity: Flexi Cap 38.6 16.5 19.4 15.0 79 63 49 32 67 21 8 5 1.5 0.1 0.77 7,349
BSE 500 TRI 35.9 15.6 19.8 14.3

Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31 2024.

64 Mutual Fund Insight December 2024

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 Performance Portfolio Composition (%)
Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Equity: Mid Cap

155 ABSL Mid Cap 45.3 19.9 24.8 16.6 18 19 18 19 21 75 2 1 -1.2 -0.6 +Avg 1.07 6,440  1.6
156 Axis Midcap 45.2 17.5 24.1 18.4 19 23 20 10 49 48 0 2 -2.0 -0.8 Avg 0.54 32,016  È 3.9
157 Bandhan Midcap 49.0 - - - 13 - - - 45 49 4 2 - - - 0.60 1,548 NR -
158 Baroda BNP Paribas Midcap $ 46.6 21.6 27.7 18.7 16 13 12 9 32 60 3 6 1.5 -0.3 -Avg 0.53 2,247  3.1
159 Canara Robeco Mid Cap 44.0 - - - 20 - - - 47 50 0 3 - - - 0.60 2,799 NR -
160 DSP Midcap 42.7 17.0 21.9 17.4 23 24 23 15 20 73 3 5 -4.4 -1.1 +Avg 0.75 20,237  2.0
161 Edelweiss Mid Cap 59.5 26.3 31.4 21.3 2 4 3 2 47 48 2 3 4.1 0.6 Avg 0.40 7,755  4.0
162 Franklin India Prima 52.0 21.5 24.1 17.9 9 14 19 12 37 58 3 2 0.0 -0.3 +Avg 0.97 12,943  2.0
163 HDFC Mid-Cap Opportunities 46.1 27.7 29.6 19.9 17 3 7 5 31 55 7 7 5.7 0.9 -Avg 0.74 77,683  3.4
164 HSBC Midcap 55.3 24.1 25.4 18.9 6 9 17 7 62 35 2 1 3.7 0.1 -Avg 0.68 12,280  2.2
165 ICICI Pru Midcap 52.9 21.3 25.5 17.3 8 15 16 16 37 60 1 1 -0.5 -0.3 +Avg 1.05 6,778  2.6
166 Invesco India Mid Cap 56.7 24.4 28.8 20.3 5 8 8 4 34 59 7 0 2.5 0.2 Avg 0.58 5,904  3.4
167 ITI Mid Cap 57.9 23.1 - - 3 11 - - 41 50 5 4 1.2 0.0 Avg 0.38 1,163  3.0
168 JM Midcap 57.4 - - - 4 - - - 28 59 12 2 - - - 0.32 1,747 NR -
169 Kotak Emerging Equity 47.1 23.8 28.6 20.9 15 10 9 3 33 63 1 3 3.4 0.1 Low 0.38 52,627  4.0
170 LIC MF Midcap 48.7 18.9 23.8 - 14 20 21 - 29 55 14 2 -3.3 -0.8 High 1.55 334  1.3
171 Mahindra Manulife Mid Cap 51.9 25.7 29.7 - 10 6 6 - 50 46 - 4 2.4 0.6 Avg 0.48 3,442  3.4
172 Mirae Asset Midcap 39.6 20.2 27.7 - 25 18 11 - 29 64 6 1 -1.4 -0.7 +Avg 0.60 17,788  3.4
173 Motilal Oswal Midcap 67.9 35.0 32.8 22.2 1 1 2 1 53 26 1 19 12.0 1.1 Low 0.57 18,604  4.3
174 Nippon India Growth 50.1 26.0 30.5 19.3 12 5 4 6 40 54 2 4 3.7 0.6 Avg 0.79 35,209  4.0
175 PGIM India Midcap Opportunities 33.5 14.7 30.4 17.8 28 25 5 13 49 47 1 2 -4.5 -1.1 Avg 0.46 11,700  4.3
176 Quant Mid Cap 43.7 27.8 34.5 20.0 21 2 1 - 39 51 - 10 5.0 0.5 Avg 0.58 9,501  4.7
177 SBI Magnum Midcap 35.5 21.2 28.5 18.1 27 16 10 11 25 64 5 6 2.2 -0.3 -Avg 0.79 22,338  3.6
178 Sundaram Midcap 53.4 25.2 25.6 17.6 7 7 15 14 43 52 - 6 3.4 0.4 Avg 0.91 13,129  2.1
179 Tata Midcap Growth 43.5 22.2 26.6 18.7 22 12 13 8 36 59 3 2 1.0 -0.3 Avg 0.66 4,637  3.0
180 Taurus Mid Cap 28.4 17.9 23.4 16.7 29 22 22 17 19 62 16 4 -4.5 -0.7 High 2.22 140  2.2
181 Union Midcap 41.6 20.4 - - 24 17 - - 51 42 5 3 -0.5 -0.5 Avg 0.66 1,436  2.9
182 UTI Mid Cap 38.3 18.5 26.1 16.6 26 21 14 18 28 65 4 2 -2.2 -1.0 Avg 0.90 12,708  2.8
183 WhiteOak Capital Mid Cap 50.4 - - - 11 - - - 35 51 8 6 - - - 0.38 2,565 NR -
Equity: Mid Cap 47.7 22.5 27.5 18.7 29 25 23 19 38 54 5 4 1.1 -0.1 0.74 13,714
BSE 150 MidCap TRI 46.8 23.0 28.8 19.8
Equity: Small Cap
184 ABSL Small Cap 39.3 18.7 25.1 16.7 18 22 19 12 2 51 43 4 -2.1 -0.9 High 0.94 5,430  1.0
185 Axis Small Cap 38.0 23.0 29.0 21.1 20 16 17 4 8 51 30 11 4.3 -0.2 Low 0.55 24,766  4.8
186 Bandhan Small Cap 70.3 29.5 - - 1 2 - - 10 40 39 11 5.8 0.7 +Avg 0.38 8,489  2.4
187 Bank of India Small Cap 46.8 27.0 38.8 - 9 7 2 - 5 51 36 9 5.5 0.3 Avg 0.52 1,517  4.2
188 Baroda BNP Paribas Small Cap $ - - - - - - - - 2 66 26 6 - - - 0.53 1,578 NR -
189 Canara Robeco Small Cap 41.5 24.1 35.8 - 15 13 4 - 13 59 24 4 4.1 -0.1 -Avg 0.44 12,591  4.0
190 DSP Small Cap 40.9 24.0 31.5 20.3 16 14 10 7 - 31 63 6 1.8 -0.1 +Avg 0.85 16,705  Ç 2.4
191 Edelweiss Small Cap 45.4 26.1 34.6 - 11 10 6 - 5 60 32 3 4.7 0.2 -Avg 0.38 4,293  4.0
192 Franklin India Smaller Companies 44.2 27.0 30.3 19.4 12 6 12 8 10 53 34 3 5.9 0.3 Avg 0.90 14,460  2.5
193 HDFC Small Cap 37.3 25.2 29.9 20.6 22 11 16 5 4 47 42 7 4.0 0.1 +Avg 0.68 33,963  2.7
194 HSBC Small Cap 44.1 27.6 31.9 20.5 13 5 9 6 8 68 21 2 5.9 0.4 Avg 0.68 17,306  3.1
195 ICICI Pru Smallcap 36.1 21.9 30.3 18.0 23 19 13 9 12 39 35 15 3.0 -0.3 Avg 0.76 8,825  3.5
196 Invesco India Smallcap 53.7 26.7 33.2 - 4 9 7 - 13 63 23 1 5.8 0.2 -Avg 0.41 5,376  3.0
197 ITI Small Cap 57.6 24.2 - - 2 12 - - 16 61 22 2 3.5 0.0 +Avg 0.34 2,415  Ç 1.3
198 JM Small Cap - - - - - - - - - 51 47 2 - - - 0.56 562 NR -
199 Kotak Small Cap 45.6 21.1 32.9 21.3 10 21 8 3 11 55 31 4 2.0 -0.4 Avg 0.49 18,287  3.8
200 LIC MF Small Cap 53.5 26.7 30.2 - 5 8 15 - 3 34 60 2 5.6 0.2 Avg 1.39 370  Ç 2.6
201 Mahindra Manulife Small Cap 54.1 - - - 3 - - - 10 54 26 9 - - - 0.35 5,478 NR -
202 Motilal Oswal Small Cap - - - - - - - - 7 46 44 3 - - - 0.45 2,579 NR -
203 Nippon India Small Cap 47.2 30.9 36.8 23.9 8 1 3 1 17 45 34 4 8.3 1.0 Avg 0.68 62,260  4.2
204 PGIM India Small Cap 37.5 16.2 - - 21 23 - - 2 53 39 6 -3.9 -1.1 +Avg 0.52 1,605  1.0
205 Quant Small Cap 53.2 29.2 47.8 21.9 6 3 1 - 21 37 29 13 5.1 0.8 +Avg 0.64 26,645  È 3.9
Equity: Small Cap 45.5 24.7 32.8 20.0 24 23 19 12 8 50 37 6 3.9 0.0 0.63 11,751
BSE 250 SmallCap TRI 47.1 24.1 30.3 16.1
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31 2024. $ Expense as of September 30, 2024.

Mutual Fund Insight December 2024 65

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 SCOREBOARD Equity Funds
Performance Portfolio Composition (%)
Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Equity: Small Cap

206 Quantum Small Cap - - - - - - - - 13 27 42 17 - - - 0.60 86 NR -
207 SBI Small Cap 38.7 21.6 28.8 23.7 19 20 18 2 - 60 31 10 3.2 -0.4 Low 0.66 34,217  3.5
208 Sundaram Small Cap 40.0 23.0 30.3 17.3 17 17 14 10 7 54 35 4 2.5 -0.3 +Avg 0.83 3,581  2.0
209 Tata Small Cap 53.1 29.1 35.5 - 7 4 5 - - 38 54 8 8.9 0.4 -Avg 0.34 9,319  4.0
210 Union Small Cap 32.5 23.0 30.7 17.3 24 18 11 11 1 45 50 3 3.2 -0.2 +Avg 0.90 1,663  2.5
211 UTI Small Cap 41.7 23.2 - - 14 15 - - 3 55 40 3 2.8 -0.2 Avg 0.69 4,658  2.6
Equity: Small Cap 45.5 24.7 32.8 20.0 24 23 19 12 8 50 37 6 3.9 0.0 0.63 11,751
BSE 250 SmallCap TRI 47.1 24.1 30.3 16.1
Equity: Value Oriented
212 ABSL Pure Value 41.8 21.4 23.3 15.0 14 11 10 11 47 36 15 2 5.9 0.9 High 1.03 6,779  1.0
213 Axis Value 50.9 22.7 - - 3 7 - - 60 21 13 6 7.4 1.5 +Avg 0.95 749  3.0
214 Bandhan Sterling Value 39.0 21.2 27.2 17.6 21 12 2 3 70 15 8 7 6.8 1.1 +Avg 0.69 10,601  Ç 3.6
215 Baroda BNP Paribas Value $ 39.7 - - - 20 - - - 69 17 9 6 - - - 0.84 1,654 NR -
216 Canara Robeco Value 40.8 22.8 - - 17 5 - - 66 23 7 4 8.3 1.9 -Avg 0.61 1,342  5.0
217 DSP Value 39.9 16.8 - - 18 19 - - 52 15 6 28 3.9 0.4 -Avg 0.93 940  2.5
218 Groww Value 36.5 16.2 19.6 - 23 20 15 - 72 9 13 6 2.3 0.5 +Avg 0.90 44  1.9
219 HDFC Capital Builder Value 45.0 19.2 22.0 15.5 10 15 14 10 72 19 8 1 4.6 1.3 +Avg 0.98 7,883  2.0
220 HSBC Value 48.9 24.0 26.1 18.8 7 3 5 1 43 40 13 3 8.9 1.4 Avg 0.78 14,123  3.1
221 ICICI Pru Value Discovery 41.7 23.2 26.6 16.8 15 4 3 8 78 6 1 14 9.4 1.4 Low 1.00 51,198  4.5
222 Invesco India Contra 52.5 21.1 24.1 18.4 2 13 8 2 69 25 3 4 6.4 1.4 -Avg 0.52 18,470  3.5
223 ITI Value 41.9 19.6 - - 13 14 - - 51 24 21 4 5.2 0.9 Avg 0.48 303  3.0
224 JM Value 50.4 26.7 26.1 19.2 4 1 4 - 37 35 27 0 11.5 1.3 Avg 0.90 1,085  3.3
225 Kotak India EQ Contra 49.1 22.4 23.9 17.5 6 9 9 5 60 31 7 2 7.4 1.8 -Avg 0.55 4,047  4.2
226 LIC MF Value 43.0 - - - 11 - - - 43 24 32 1 3.1 0.7 High 1.63 132  2.2
227 Nippon India Value 49.8 22.7 25.5 17.4 5 6 7 6 62 25 9 4 7.3 1.6 +Avg 1.16 8,962  3.1
228 Quant Value 63.9 - - - 1 - - - 60 22 15 3 - - - 0.45 2,121 NR -
229 Quantum Long Term Equity Value 42.3 17.9 19.3 13.0 12 18 16 13 69 13 2 16 4.1 0.8 Avg 1.10 1,230  2.0
230 SBI Contra 41.2 25.4 30.8 17.5 16 2 1 4 57 21 5 17 10.6 1.9 Low 0.59 41,327  4.8
231 Tata Equity PE 47.6 22.4 22.4 17.3 8 10 12 7 63 25 6 6 7.5 1.7 -Avg 0.80 9,173  2.7
232 Templeton India Value 39.8 22.5 25.7 15.8 19 8 6 9 65 15 13 6 7.7 1.5 +Avg 0.87 2,305  3.3
233 Union Value 38.2 19.1 22.3 - 22 16 13 - 61 13 21 4 5.3 0.9 Avg 1.34 298  2.7
234 UTI Value 46.2 18.9 22.6 14.2 9 17 11 12 67 25 4 4 4.5 1.0 -Avg 1.15 10,757  3.4
Equity: Value Oriented 44.8 21.3 24.2 16.5 23 20 16 13 61 22 11 6 6.6 1.2 0.88 8,501
BSE 100 Total Return Index 32.2 14.0 17.8 13.3
Equity: ELSS
235 ABSL ELSS Tax Saver 35.5 12.2 13.6 13.2 27 32 33 23 70 25 5 1 -2.4 -1.2 High 0.98 17,102  1.2
236 Axis ELSS Tax Saver 33.6 8.4 14.6 14.3 29 33 32 17 85 13 0 3 -6.5 -0.9 High 0.79 39,253  2.0
237 Bandhan ELSS Tax Saver 31.1 16.9 24.0 17.4 33 19 6 5 74 14 9 3 1.7 0.3 +Avg 0.64 7,354  4.1
238 Bank of India ELSS Tax Saver 47.4 19.9 26.7 18.3 7 6 2 2 56 24 14 6 4.0 0.7 Avg 0.96 1,486  È 4.4
239 Baroda BNP Paribas ELSS Tax Saver $ 46.3 17.0 20.4 14.5 8 18 16 14 62 32 4 2 1.9 0.2 -Avg 0.95 988  2.8
240 Canara Robeco ELSS Tax Saver 38.4 15.3 22.3 15.8 20 24 9 10 71 23 2 4 0.5 -0.1 -Avg 0.54 9,256  4.2
241 DSP ELSS Tax Saver 47.8 19.7 23.0 17.6 6 8 7 4 70 23 3 4 3.8 0.9 Avg 0.75 17,771  4.0
242 Edelweiss ELSS Tax Saver 40.9 17.3 19.9 14.6 15 17 21 13 73 20 3 3 2.1 0.4 Avg 0.70 413  3.0
243 Franklin India ELSS Tax Saver 41.2 19.3 21.5 15.4 14 11 13 11 81 13 3 3 3.7 1.0 Avg 1.00 7,242  Ç 2.9
244 Groww ELSS Tax Saver 40.2 16.0 17.5 - 17 20 29 - 65 19 15 1 1.0 0.1 Avg 0.55 51  1.9
245 HDFC ELSS Tax Saver 44.3 22.7 21.8 13.8 10 4 12 19 80 7 5 8 7.2 1.7 Low 1.09 16,761  2.6
246 HSBC ELSS Tax Saver 49.4 19.6 20.1 15.0 4 9 19 12 61 30 9 0 4.0 0.7 +Avg 1.10 4,485  1.9
247 ICICI Pru ELSS Tax Saver 36.5 15.0 19.5 14.3 24 27 23 18 76 13 7 4 0.3 -0.2 +Avg 1.08 15,321  2.8
248 Invesco India ELSS Tax Saver 43.3 15.7 20.4 16.4 12 22 17 8 56 34 8 2 0.4 0.0 +Avg 0.76 3,058  2.7
249 ITI ELSS Tax Saver 48.8 19.9 20.8 - 5 7 15 - 54 27 16 3 4.6 0.7 -Avg 0.50 412  3.0
250 JM ELSS Tax Saver 51.4 20.5 22.9 17.6 3 5 8 3 55 26 19 1 4.5 0.7 +Avg 1.27 187  3.5
251 Kotak ELSS Tax Saver 37.6 19.1 22.0 16.8 21 12 10 7 76 17 5 1 4.2 0.7 Low 0.61 6,501  4.3
252 LIC MF ELSS Tax Saver 37.0 15.9 17.3 14.4 23 21 30 15 64 24 11 1 1.1 0.0 Avg 0.96 1,209  2.4
253 Mahindra Manulife ELSS Tax Saver 30.9 15.2 20.3 - 34 26 18 - 67 25 6 3 0.2 -0.1 Avg 0.61 983  3.2
Equity: ELSS 40.1 17.5 21.0 15.4 36 33 33 25 66 23 7 4 2.3 0.3 0.87 7,088
BSE 500 TRI 35.9 15.6 19.8 14.3
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31 2024. $ Expense as of September 30, 2024.

66 Mutual Fund Insight December 2024

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
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Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.

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Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 Performance Portfolio Composition (%)
Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Equity: ELSS
254 Mirae Asset ELSS Tax Saver 36.2 15.3 21.8 - 25 25 11 - 69 23 8 1 0.3 -0.1 Avg 0.61 26,418  4.5
255 Motilal Oswal ELSS Tax Saver 66.4 26.2 24.8 - 1 1 4 - 49 47 3 1 9.5 1.5 -Avg 0.65 4,195  3.3
256 Nippon India ELSS Tax Saver 40.3 18.3 19.1 11.9 16 13 27 25 72 20 3 4 2.5 0.9 High 1.03 16,711  1.4
257 NJ ELSS Tax Saver Scheme 38.7 - - - 19 - - - 59 40 - 1 - - - 0.54 267 NR -
258 Parag Parikh ELSS Tax Saver 33.6 19.4 24.4 - 28 10 5 - 68 7 8 17 6.1 0.4 Low 0.62 4,362  5.0
259 PGIM India ELSS Tax Saver 28.8 14.9 19.4 - 35 28 24 - 69 25 2 4 0.7 -0.2 Avg 0.75 799  È 3.7
260 Quant ELSS Tax Saver Fund 44.2 22.9 33.6 23.5 11 3 1 1 86 5 0 8 5.9 0.9 +Avg 0.65 11,561  5.0
261 Quantum ELSS Tax Saver 42.1 18.0 19.4 12.9 13 14 26 24 68 13 3 16 3.2 0.5 Avg 0.90 218  Ç 2.2
262 Samco ELSS Tax Saver 24.4 - - - 36 - - - 22 72 - 6 - - - 0.95 122 NR -
263 SBI Long Term Equity 52.5 24.8 25.4 16.0 2 2 3 9 67 17 6 9 8.0 1.9 -Avg 0.94 28,733  3.6
264 Shriram ELSS Tax Saver 36.1 14.3 17.2 - 26 30 31 - 66 29 4 1 -0.4 -0.3 Avg 0.72 57  2.6
265 Sundaram ELSS Tax Saver 31.8 14.6 19.8 13.4 32 29 22 21 73 17 4 6 0.1 -0.3 Avg 1.66 1,434  2.9
266 Tata ELSS Tax Saver 38.8 17.5 20.1 17.0 18 16 20 6 62 21 15 2 2.1 0.5 +Avg 0.70 4,926  3.0
267 Taurus ELSS Tax Saver 37.3 17.6 18.6 14.3 22 15 28 16 63 22 7 8 3.6 0.2 Low 1.95 84  2.9
268 Union ELSS Tax Saver 33.1 15.5 21.0 13.4 30 23 14 22 72 11 14 3 1.1 -0.1 -Avg 1.33 987  3.6
269 UTI ELSS Tax Saver 33.0 12.7 19.4 13.8 31 31 25 20 69 26 3 2 -2.2 -0.6 +Avg 0.90 4,183  2.7
270 WhiteOak Capital ELSS Tax Saver 45.3 - - - 9 - - - 54 27 15 4 - - - 0.69 294 NR -
Equity: ELSS 40.1 17.5 21.0 15.4 36 33 33 25 66 23 7 4 2.3 0.3 0.87 7,088
BSE 500 TRI 35.9 15.6 19.8 14.3
Equity: Sectoral-Banking
271 ABSL Banking & Financial Services 23.7 13.1 14.8 15.4 15 10 6 2 66 24 8 2 2.8 0.4 High 1.08 3,408  2.6
272 Bandhan Financial Services 38.8 - - - 1 - - - 68 23 7 2 - - - 0.62 976 NR -
273 Baroda BNP Paribas Banking & Fin Srvcs $ 34.1 13.9 13.7 12.4 5 9 10 7 81 13 4 2 3.5 0.6 Avg 0.98 187  2.0
274 DSP Banking & Financial Services - - - - - - - - 71 17 2 10 - - - 0.71 979 NR -
275 Groww Banking & Financial Services - - - - - - - - 75 17 5 3 - - - 0.36 45 NR -
276 HDFC Banking & Financial Services 26.8 14.3 - - 13 7 - - 72 17 10 0 4.0 0.6 Avg 0.74 3,742  4.0
277 Helios Financial Services - - - - - - - - 68 24 7 1 - - - 0.76 122 NR -
278 ICICI Pru Banking & Financial Services 26.8 12.7 14.2 15.0 11 11 7 4 80 10 4 6 2.7 0.3 Avg 1.02 8,899  Ç 3.0
279 Invesco India Financial Services 38.8 18.0 17.8 17.1 2 1 2 1 70 19 9 2 7.5 0.9 -Avg 0.93 1,043  3.7
280 ITI Banking and Financial Services 22.4 - - - 16 - - - 76 18 4 2 - - - 0.44 271 NR -
281 Kotak Banking & Financial Services 30.7 - - - 7 - - - 76 16 6 3 - - - 0.68 997 NR -
282 LIC MF Banking & Financial Services 16.3 10.2 11.9 - 17 13 11 - 63 26 8 3 0.0 0.0 +Avg 1.05 291  1.5
283 Mirae Asset Banking and Fin Srvcs 27.4 14.6 - - 9 6 - - 63 25 11 1 4.2 0.6 Avg 0.61 1,882  4.0
284 Nippon India Banking & Financial Srvices 27.3 17.0 17.1 14.2 10 3 3 5 77 19 2 2 6.3 1.0 Avg 1.08 6,389  3.3
285 Quant BFSI 37.3 - - - 4 - - - 44 38 18 -1 - - - 0.69 705 NR -
286 SBI Banking & Financial Services 37.5 14.9 16.4 - 3 5 4 - 70 22 3 5 4.6 0.6 -Avg 0.74 6,407  4.3
287 Sundaram Financial Services Opp 28.4 18.0 18.4 15.2 8 2 1 3 62 19 14 5 7.2 1.1 Low 0.77 1,498  4.5
288 Tata Banking & Financial Services 26.8 15.2 16.1 - 12 4 5 - 62 22 14 2 4.8 0.7 -Avg 0.54 2,406  3.8
289 Taurus Banking & Financial Services 25.2 12.1 13.8 12.6 14 12 9 6 78 17 3 1 1.9 0.3 Avg 1.84 11  3.2
290 UTI Banking and Financial Services 31.2 13.9 13.9 12.0 6 8 8 8 65 24 7 4 3.6 0.5 +Avg 1.22 1,192  1.6
291 WhiteOak Capital Banking & Fin Srvices - - - - - - - - 66 22 9 3 - - - 0.67 265 NR -
Equity: Sectoral-Banking 29.4 14.4 15.3 14.2 17 13 11 8 69 21 7 3 4.1 0.6 0.83 1,986
BSE Bankex TRI 22.2 10.4 12.2 12.3
Equity: Sectoral-Infrastructure
292 ABSL Infrastructure 46.6 26.0 27.5 15.6 17 16 13 17 45 27 25 3 3.1 -0.7 High 1.34 1,277  1.7
293 Bandhan Infrastructure 66.9 30.6 31.3 18.4 2 8 5 7 42 26 31 1 5.1 -0.5 +Avg 0.81 1,906  2.1
294 Bank of India Manufacturing & Infra 52.3 28.1 31.4 18.6 11 15 4 6 42 33 21 5 6.3 -0.5 -Avg 0.86 529  3.8
295 Canara Robeco Infrastructure 64.0 30.7 30.1 17.8 3 7 7 12 60 32 4 4 8.1 -0.4 -Avg 1.00 883  3.4
296 DSP India T.I.G.E.R. 63.5 33.2 29.9 18.8 4 4 8 4 41 32 22 5 9.6 -0.3 Avg 0.84 5,646  3.1
297 Franklin Build India 58.4 31.0 29.3 20.2 6 6 11 1 52 33 11 4 7.6 -0.4 Avg 0.92 2,908  3.1
298 HDFC Infrastructure 51.9 33.8 26.0 12.6 13 2 16 19 47 21 23 9 8.5 -0.3 High 1.08 2,607  Ç 1.0
299 HSBC Infrastructure 54.5 28.3 27.1 18.4 10 12 15 8 53 30 14 2 6.3 -0.5 Avg 0.97 2,790  2.9
300 ICICI Pru Infrastructure 57.4 34.0 31.6 17.8 7 1 3 11 52 29 11 8 10.1 -0.3 Avg 1.23 6,424  3.9
301 Invesco India Infrastructure 62.7 29.3 31.8 19.5 5 9 2 3 50 40 9 1 6.5 -0.5 -Avg 0.71 1,666  È 4.6
Equity: Sectoral-Infrastructure 55.4 29.1 28.8 17.5 19 19 19 19 49 29 18 4 6.2 -0.5 1.10 2,786
BSE India Infrastructure TRI 75.9 36.9 32.0 16.0
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31 2024. $ Expense as of September 30, 2024.

Mutual Fund Insight December 2024 67

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 SCOREBOARD Equity Funds
Performance Portfolio Composition (%)
Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Equity: Sectoral-Infrastructure
302 Kotak Infrastructure and Economic Reform 51.5 29.1 29.3 18.6 14 10 10 5 40 36 22 2 8.9 -0.5 Low 0.62 2,524  4.5
303 LIC MF Infrastructure 71.2 33.4 29.5 16.9 1 3 9 14 26 31 40 3 11.0 -0.3 -Avg 1.10 750  3.5
304 Nippon India Power & Infra 57.1 32.1 30.7 17.6 8 5 6 13 61 30 8 1 7.5 -0.4 Avg 0.95 7,863  2.8
305 Quant Infrastructure 56.9 28.1 35.8 20.2 9 14 1 2 66 14 15 5 1.4 -0.7 +Avg 0.66 3,937  4.8
306 SBI Infrastructure 47.8 28.2 27.2 17.8 16 13 14 10 41 30 20 9 7.3 -0.6 Low 0.91 5,071  È 4.0
307 Sundaram Infrastructure Advantage 50.0 23.2 24.9 15.7 15 17 17 16 57 28 10 5 1.7 -0.9 +Avg 1.78 1,067  2.4
308 Tata Infrastructure 51.9 29.0 28.5 17.9 12 11 12 9 40 34 23 3 6.2 -0.5 Avg 1.10 2,606  3.1
309 Taurus Infrastructure 41.7 22.6 23.5 15.8 19 18 18 15 51 24 21 3 1.0 -0.9 Avg 2.16 11  2.7
310 UTI Infrastructure 45.6 22.5 22.2 13.7 18 19 19 18 69 17 10 4 1.1 -0.9 +Avg 1.82 2,472  2.0
Equity: Sectoral-Infrastructure 55.4 29.1 28.8 17.5 19 19 19 19 49 29 18 4 6.2 -0.5 1.10 2,786
BSE India Infrastructure TRI 75.9 36.9 32.0 16.0
Equity: Sectoral-Pharma
311 ABSL Pharma & Healthcare 55.4 20.1 26.4 - 11 8 8 - 55 27 10 8 -0.6 -0.3 +Avg 0.92 888  2.3
312 DSP Healthcare 60.5 23.4 33.0 - 7 3 1 - 47 34 15 4 2.7 0.3 +Avg 0.59 3,094  3.1
313 HDFC Pharma And Healthcare 67.3 - - - 1 - - - 46 39 13 1 - - - 0.94 1,303 NR -
314 ICICI Pru Pharma Healthcare and Diagnost 65.8 24.9 32.3 - 2 2 2 - 52 23 20 4 4.2 0.7 Low 1.09 4,987  4.6
315 ITI Pharma and Healthcare 62.2 - - - 4 - - - 53 31 12 4 - - - 0.47 202 NR -
316 Kotak Healthcare - - - - - - - - 59 25 15 1 - - - 0.74 402 NR -
317 LIC MF Healthcare 64.4 18.4 25.4 - 3 9 9 - 45 42 10 3 -1.6 -0.7 High 1.21 75  1.0
318 Mirae Asset Healthcare 57.3 21.1 31.4 - 10 6 3 - 62 34 3 1 0.2 -0.1 Avg 0.49 2,794  3.0
319 Nippon India Pharma 52.5 20.9 29.4 16.5 12 7 7 1 59 26 9 5 0.6 -0.2 Avg 0.91 8,769  3.5
320 Quant Healthcare 61.7 - - - 5 - - - 27 35 37 1 - - - 0.69 454 NR -
321 SBI Healthcare Opportunities 59.2 25.3 30.9 15.6 9 1 4 2 52 28 16 4 5.0 0.8 -Avg 0.89 3,346  4.8
322 Tata India Pharma & Healthcare 59.4 23.3 29.4 - 8 4 6 - 62 17 14 7 2.6 0.5 Avg 0.69 1,208  3.6
323 UTI Healthcare 60.8 21.7 29.4 14.3 6 5 5 3 41 40 15 4 0.8 0.1 -Avg 1.28 1,201  3.0
324 WhiteOak Capital Pharma and Helthcr - - - - - - - - 51 29 19 1 - - - 0.68 200 NR -
Equity: Sectoral-Pharma 60.5 22.1 29.7 15.5 12 9 9 3 51 31 15 3 1.6 0.1 0.83 2,066
BSE Healthcare TRI 61.9 21.3 27.9 12.5
Equity: Sectoral-Technology
325 ABSL Digital India 31.5 11.3 28.6 19.5 8 4 3 1 70 19 9 2 2.6 0.5 - 0.83 5,261 NR -
326 Edelweiss Technology - - - - - - - - 73 17 6 3 - - - 0.56 652 NR -
327 Franklin India Technology 45.9 15.8 28.1 17.6 1 1 4 4 68 12 12 8 7.0 0.6 - 1.06 1,904 NR -
328 HDFC Technology 44.7 - - - 3 - - - 70 23 2 5 - - - 0.97 1,340 NR -
329 ICICI Pru Technology 38.5 9.9 29.9 19.0 6 5 1 2 71 13 8 8 1.4 0.2 - 0.98 14,173 NR -
330 Invesco India Technology - - - - - - - - 39 39 2 20 - - - 0.77 276 NR -
331 Kotak Technology - - - - - - - - 75 19 2 4 - - - 0.96 558 NR -
332 Quant Teck 38.8 - - - 5 - - - 24 54 20 2 - - - 0.78 451 NR -
333 SBI Technology Opportunities 37.7 12.6 27.5 17.9 7 2 5 3 68 22 9 1 3.9 0.5 - 0.84 4,435 NR -
334 Tata Digital India 45.3 12.5 29.5 - 2 3 2 - 74 18 3 5 3.7 0.8 - 0.41 12,052 NR -
335 Tata Nifty India Digital ETF FoF 41.9 - - - 4 - - - 75 23 1 2 - - - 0.07 83 NR -
336 WhiteOak Capital Digital Bharat - - - - - - - - - - - - - - - 0.49 - NR -
Equity: Sectoral-Technology 40.5 12.4 28.8 18.5 8 5 5 4 64 24 7 5 3.7 0.5 0.73 3,744
BSE IT TRI 32.7 8.6 23.6 16.4
Equity: Thematic
337 360 ONE Quant 48.5 - - - 13 - - - 95 5 - 0 - - - 0.43 552 NR -
338 ABSL Business Cycle 37.0 - - - 39 - - - 63 26 10 1 - - - 0.96 1,935 NR -
339 ABSL Manufacturing Equity 50.7 19.3 21.3 - 9 12 12 - 44 37 18 1 3.3 0.8 - 1.26 1,255 NR -
340 ABSL Quant - - - - - - - - 67 31 - 2 - - - 0.49 2,814 NR -
341 ABSL Special Opportunities 42.4 15.8 - - 27 22 - - 57 31 11 1 0.0 0.1 - 1.25 825 NR -
342 ABSL Transportation and Logistics - - - - - - - - 68 19 10 3 - - - 0.66 1,746 NR -
343 Axis Business Cycles 38.2 - - - 36 - - - 57 32 8 4 - - - 0.68 2,793 NR -
344 Axis India Manufacturing - - - - - - - - 66 26 5 3 - - - 0.41 6,518 NR -
345 Axis Innovation 42.1 12.2 - - 28 27 - - 65 24 9 3 -1.9 -0.4 - 1.27 1,300 NR -
346 Axis Quant 35.4 16.0 - - 41 20 - - 70 24 4 2 1.1 0.1 - 0.65 1,171 NR -
Equity: Thematic 42.8 19.1 23.2 15.1 51 29 18 9 56 26 13 8 3.8 0.5 0.72 2,437
BSE 500 TRI 35.9 15.6 19.8 14.3
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31 2024.

68 Mutual Fund Insight December 2024

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 Performance Portfolio Composition (%)
Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Equity: Thematic
347 Bandhan Business Cycle - - - - - - - - 3 2 1 94 - - - 0.31 1,588 NR -
348 Bandhan Innovation - - - - - - - - 34 40 21 6 - - - 0.58 1,252 NR -
349 Bandhan Transportation and Logistics 43.7 - - - 23 - - - 54 20 20 6 - - - 0.89 599 NR -
350 Bank of India Business Cycle - - - - - - - - 20 10 10 60 - - - 1.18 604 NR -
351 Baroda BNP Paribas Business Cycle $ 44.5 18.7 - - 21 14 - - 69 20 8 3 2.7 0.8 - 0.85 626 NR -
352 Baroda BNP Paribas Innovation $ - - - - - - - - 56 33 7 4 - - - 0.25 1,178 NR -
353 Baroda BNP Paribas Manufacturing $ - - - - - - - - 58 29 8 6 - - - 0.39 1,533 NR -
354 Canara Robeco Manufacturing - - - - - - - - 53 36 10 2 - - - 0.43 1,768 NR -
355 DSP Quant 27.8 8.7 15.8 - 49 29 17 - 91 9 - 0 -5.7 -1.1 - 0.55 1,125 NR -
356 Edelweiss Business Cycle - - - - - - - - 75 25 - 0 - - - 0.29 1,948 NR -
357 Edelweiss Recently Listed IPO 31.3 11.0 22.9 - 46 28 - - 14 35 47 4 -2.9 -0.3 - 1.01 990 NR -
358 Franklin India Opportunities 64.8 27.4 28.7 18.0 2 2 3 1 46 25 20 9 10.5 1.2 - 0.49 5,610 NR -
359 Groww Nifty EV&New AgeAutomot ETF FoF - - - - - - - - 55 46 1 -1 - - - 0.19 98 NR -
360 Groww Nifty India Defence ETF FoF - - - - - - - - - - - - - - - 0.21 - NR -
361 HDFC Business Cycle 32.1 - - - 44 - - - 65 19 9 7 - - - 0.79 3,209 NR -
362 HDFC Defence 79.7 - - - 1 - - - 54 9 34 3 - - - 0.75 3,997 NR -
363 HDFC Housing Opportunities 41.3 21.9 21.3 - 30 9 13 - 65 15 18 1 5.4 0.8 - 1.20 1,556 NR -
364 HDFC Manufacturing - - - - - - - - 71 20 7 2 - - - 0.46 13,631 NR -
365 HDFC Transportation and Logistics 51.2 - - - 8 - - - 57 28 10 5 - - - 0.98 1,407 NR -
366 HSBC Business Cycles 57.9 24.5 24.1 15.8 4 6 6 2 45 30 24 2 8.0 1.3 - 1.21 1,003 NR -
367 HSBC India Export Opportunities - - - - - - - - 21 13 4 62 - - - 0.63 1,750 NR -
368 ICICI Pru Business Cycle 45.2 22.5 - - 18 8 - - 68 6 3 24 7.4 1.0 - 0.73 12,039 NR -
369 ICICI Pru Commodities 37.1 18.7 33.2 - 38 15 1 - 54 30 13 3 1.9 0.4 - 0.93 2,609 NR -
370 ICICI Pru Exports & Services 44.6 20.9 23.9 15.7 20 10 7 3 70 12 5 13 6.6 0.8 - 1.66 1,451 NR -
371 ICICI Pru FMCG 15.3 16.5 15.0 14.2 51 19 18 7 80 11 4 5 4.1 0.1 - 1.29 1,885 NR -
372 ICICI Pru Housing Opportunities 38.9 - - - 35 - - - 60 11 15 14 - - - 1.00 2,679 NR -
373 ICICI Pru India Opportunities 41.8 26.5 29.0 - 29 4 2 - 71 15 2 12 10.7 1.5 - 0.63 24,793 NR -
374 ICICI Pru Innovation 54.0 - - - 6 - - - 74 16 4 6 - - - 0.68 6,654 NR -
375 ICICI Pru Manufacturing 52.4 27.0 27.8 - 7 3 4 - 60 29 5 5 10.0 1.8 - 0.72 7,042 NR -
376 ICICI Pru Quant 36.0 15.5 - - 40 24 - - 66 22 - 12 1.6 -0.1 - 0.71 101 NR -
377 ICICI Pru Thematic Advantage (FOF) 39.5 19.3 26.0 - 34 13 5 - 54 13 8 25 5.4 0.5 - 0.54 1,941 NR -
378 ICICI Pru Transportation and Logistics 47.2 - - - 14 - - - 68 13 13 6 - - - 0.78 3,349 NR -
379 Invesco India Manufacturing - - - - - - - - 41 47 11 1 - - - 0.67 800 NR -
380 Kotak Business Cycle 42.7 - - - 25 - - - 59 24 15 3 - - - 0.51 2,816 NR -
381 Kotak Manufacture in India 44.8 - - - 19 - - - 64 26 8 3 - - - 0.46 2,618 NR -
382 Kotak Pioneer 46.4 17.5 - - 17 16 - - 54 24 6 17 2.9 0.2 - 0.49 2,800 NR -
383 Kotak Quant 50.1 - - - 11 - - - 65 34 - 1 - - - 1.16 912 NR -
384 Kotak Special Opportunities - - - - - - - - 41 41 16 1 - - - 0.56 2,426 NR -
385 LIC MF Manufacturing - - - - - - - - - - - - - - - 0.43 - NR -
386 Mahindra Manulife Business Cycle 56.4 - - - 5 - - - 58 26 15 1 - - - 0.42 1,200 NR -
387 Mahindra Manulife Manufacturing - - - - - - - - 58 18 23 1 - - - 0.62 946 NR -
388 Mirae Ast Nfty MidSC400 MomQlty100ETF - - - - - - - - 35 63 2 0 - - - 0.12 176 NR -
389 Mirae Asset Nfty SC250 M Qlty100 ETF FoF - - - - - - - - 1 88 12 0 - - - 0.21 180 NR -
390 Mirae Asset Nifty Ind Manftng ETF FoF 50.5 - - - 10 - - - 82 18 - 0 - - - 0.08 121 NR -
391 Motilal Oswal Business Cycle - - - - - - - - 32 18 18 32 - - - 0.55 1,028 NR -
392 Motilal Oswal Manufacturing - - - - - - - - 48 43 5 3 - - - 1.01 679 NR -
393 Motilal Oswal Quant - - - - - - - - 14 32 53 1 - - - 0.69 153 NR -
394 Nippon India Innovation 40.8 - - - 32 - - - 48 43 5 4 - - - 0.69 2,275 NR -
395 Nippon India Quant 42.5 20.3 22.5 13.8 26 11 10 9 91 8 - 1 4.2 1.1 - 0.41 86 NR -
396 Quant Business Cycle 49.4 - - - 12 - - - 61 19 18 1 - - - 0.57 1,649 NR -
397 Quant Commodities - - - - - - - - 33 25 35 6 - - - 0.87 493 NR -
398 Quant Manufacturing 58.4 - - - 3 - - - 48 21 27 4 - - - 0.71 1,091 NR -
399 Quant Momentum - - - - - - - - 75 18 3 4 - - - 0.75 2,324 NR -
400 Quant Quantamental 46.7 31.0 - - 16 1 - - 81 14 - 5 12.6 1.5 - 0.58 2,635 NR -
Equity: Thematic 42.8 19.1 23.2 15.1 51 29 18 9 56 26 13 8 3.8 0.5 0.72 2,437
BSE 500 TRI 35.9 15.6 19.8 14.3
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31 2024. $ Expense as of September 30, 2024.

Mutual Fund Insight December 2024 69

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 SCOREBOARD Equity Funds
Performance Portfolio Composition (%)
Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Equity: Thematic
401 Samco Active Momentum 41.0 - - - 31 - - - 51 32 16 0 - - - 0.86 881 NR -
402 Samco Special Opportunities - - - - - - - - 30 48 22 0 - - - 0.77 206 NR -
403 SBI Automotive Opportunities - - - - - - - - 62 29 7 2 - - - 0.61 6,811 NR -
404 SBI Equity Minimum Variance 29.1 15.9 18.9 - 48 21 16 - 100 - - 0 1.3 0.0 - 0.41 237 NR -
405 SBI Innovative Opportunities - - - - - - - - 47 29 8 16 - - - 0.56 8,174 NR -
406 SBI Magnum COMMA 37.8 13.2 22.5 15.6 37 26 11 4 60 20 19 1 -2.6 -0.2 - 1.91 697 NR -
407 Sundaram Business Cycle - - - - - - - - 38 31 11 19 - - - 0.40 1,494 NR -
408 Sundaram Services 34.3 17.0 23.4 - 42 17 8 - 56 27 12 5 2.1 0.2 - 0.74 4,068 NR -
409 Tata Business Cycle 42.8 24.4 - - 24 7 - - 63 22 11 4 7.9 2.0 - 0.50 2,977 NR -
410 Tata Ethical 32.9 15.5 21.0 14.6 43 23 14 5 54 36 2 7 1.4 0.0 - 0.66 3,330 NR -
411 Tata Housing Opportunities 31.8 - - - 45 - - - 45 32 18 5 - - - 0.68 658 NR -
412 Tata Quant 30.3 14.8 - - 47 25 - - 56 37 - 8 0.3 -0.1 - 0.88 72 NR -
413 Taurus Ethical 39.7 16.7 20.9 14.5 33 18 15 6 63 29 5 3 1.7 0.2 - 1.35 255 NR -
414 Union Business Cycle - - - - - - - - 73 9 11 7 - - - 1.07 578 NR -
415 Union Innovation & Opportunities 46.9 - - - 15 - - - 36 31 27 6 - - - 0.71 858 NR -
416 UTI Innovation 22.4 - - - 50 - - - 23 46 25 6 - - - 0.82 843 NR -
417 UTI Transportation & Logistics 44.0 25.7 23.0 13.9 22 5 9 8 74 17 4 4 9.9 0.8 - 0.88 3,924 NR -
418 WhiteOak Capital Special Opportunities - - - - - - - - 47 32 15 7 - - - 0.62 593 NR -
Equity: Thematic 42.8 19.1 23.2 15.1 51 29 18 9 56 26 13 8 3.8 0.5 0.72 2,437
BSE 500 TRI 35.9 15.6 19.8 14.3
Equity: Thematic-Dividend Yield
419 ABSL Dividend Yield 45.8 23.4 24.6 14.0 5 2 3 5 63 25 11 1 6.8 1.2 - 1.42 1,625 NR -
420 Baroda BNP Paribas Dividend Yield $ - - - - - - - - 40 13 3 44 - - - 0.42 1,101 NR -
421 HDFC Dividend Yield 40.9 22.9 - - 6 3 - - 70 16 12 2 6.7 1.9 - 0.65 6,383 NR -
422 ICICI Pru Dividend Yield Equity 48.7 26.3 27.5 16.4 3 1 1 2 83 8 3 5 10.2 1.9 - 0.57 5,066 NR -
423 LIC MF Dividend Yield 58.0 22.5 24.3 - 1 4 4 - 54 15 30 2 6.0 1.3 - 1.22 436 NR -
424 SBI Dividend Yield 35.5 - - - 9 - - - 71 19 - 10 - - - 0.75 9,771 NR -
425 Sundaram Dividend Yield 40.2 18.6 21.5 15.3 7 8 6 3 76 15 3 6 3.7 0.6 - 0.99 989 NR -
426 Tata Dividend Yield 35.6 19.0 - - 8 6 - - 59 31 8 2 3.3 0.7 - 0.69 1,048 NR -
427 Templeton India Equity Income 47.1 22.0 26.2 16.6 4 5 2 1 69 16 2 12 7.7 0.7 - 1.22 2,554 NR -
428 UTI Dividend Yield 50.0 19.0 22.2 14.8 2 7 5 4 68 26 - 6 3.4 0.5 - 1.40 4,485 NR -
Equity: Thematic-Dividend Yield 44.6 21.7 24.4 15.4 9 8 6 5 65 18 9 9 6.0 1.1 0.99 3,346
BSE 500 Total Return Index 35.9 15.6 19.8 14.3
Equity: Thematic-MNC
429 ABSL MNC 34.8 13.8 12.6 13.5 1 3 4 2 25 61 13 1 0.0 -0.2 - 1.34 4,180 NR -
430 HDFC MNC 25.7 - - - 4 - - - 51 38 6 4 - - - 1.23 686 NR -
431 ICICI Pru MNC 30.7 16.6 23.8 - 3 1 1 - 53 29 9 9 2.9 0.1 - 1.04 1,885 NR -
432 Kotak MNC - - - - - - - - - - - - - - - 0.57 - NR -
433 SBI Magnum Global 14.4 9.8 16.0 13.2 5 4 2 3 33 36 25 5 -1.8 -0.6 - 1.19 6,879 NR -
434 UTI MNC 31.3 14.0 15.4 13.5 2 2 3 1 38 44 13 4 0.7 -0.3 - 1.19 3,249 NR -
Equity: Thematic-MNC 27.4 13.6 16.9 13.4 5 4 4 3 40 42 13 5 0.5 -0.3 1.09 3,376
BSE 500 Total Return Index 35.9 15.6 19.8 14.3
Equity: Thematic-Energy
435 DSP Natural Resources and New Energy 46.1 19.7 24.1 18.0 1 1 2 1 59 25 1 16 6.1 0.1 - 0.99 1,336 NR -
436 ICICI Pru Energy Opportunities - - - - - - - - 46 12 3 39 - - - 0.44 10,494 NR -
437 SBI Energy Opportunities - - - - - - - - 63 26 6 4 - - - 0.59 11,718 NR -
438 Tata Resources & Energy 44.2 16.8 26.1 - 2 2 1 - 63 22 13 2 3.8 -0.1 - 0.58 1,063 NR -
Equity: Thematic-Energy 45.1 18.2 25.1 18.0 2 2 2 1 58 21 6 15 5.0 0.0 0.65 6,152
BSE Energy TRI 47.9 17.4 20.9 18.2
Equity: Thematic-PSU
439 ABSL PSU Equity 60.3 35.9 - - 4 2 - - 74 22 2 1 0.4 -0.2 - 0.54 5,896 NR -
440 ICICI Pru PSU Equity 66.3 - - - 3 - - - 72 11 2 15 - - - 0.72 2,539 NR -
441 Invesco India PSU Equity 67.1 34.4 28.9 18.6 1 3 1 1 78 18 4 1 1.1 -0.3 - 0.79 1,436 NR -
442 Quant PSU - - - - - - - - 79 16 3 2 - - - 0.83 993 NR -
Equity: Thematic-PSU 65.1 35.5 27.0 15.8 4 3 2 2 76 17 2 5 0.3 -0.2 0.73 3,113
BSE PSU TRI 67.7 37.1 27.5 13.0
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31 2024. $ Expense as of September 30, 2024.

70 Mutual Fund Insight December 2024

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 Performance Portfolio Composition (%)
Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Equity: Thematic-PSU
443 SBI PSU 66.6 36.1 25.2 12.9 2 1 2 2 77 18 1 3 -0.5 -0.1 - 0.76 4,703 NR -
Equity: Thematic-PSU 65.1 35.5 27.0 15.8 4 3 2 2 76 17 2 5 0.3 -0.2 0.73 3,113
BSE PSU TRI 67.7 37.1 27.5 13.0
Equity: Thematic-Consumption
444 ABSL India GenNext 34.8 16.5 20.2 17.7 12 10 7 4 68 26 4 3 -1.1 -0.7 +Avg 0.82 6,304  2.8
445 Axis Consumption - - - - - - - - 64 3 2 30 - - - 0.37 4,461 NR -
446 Baroda BNP Paribas India Consumption $ 38.4 18.5 22.0 - 6 9 4 - 71 22 3 4 0.6 -0.4 -Avg 0.61 1,575  3.6
447 Canara Robeco Consumer Trends 40.3 19.3 22.2 18.5 3 7 3 1 59 34 5 3 1.2 -0.3 Avg 0.84 1,849  3.5
448 HDFC Non-Cyclical Consumer 39.8 - - - 4 - - - 67 14 14 6 - - - 1.09 919 NR -
449 HSBC Consumption 46.5 - - - 1 - - - 50 34 11 4 - - - 0.72 1,622 NR -
450 ICICI Pru Bharat Consumption 36.1 20.8 19.9 - 11 5 8 - 63 16 7 15 4.7 -0.1 Low 1.09 2,895  3.6
451 Kotak Consumption - - - - - - - - 57 22 17 3 - - - 0.55 1,058 NR -
452 Mahindra Manulife Consumption 39.4 20.3 19.2 - 5 6 9 - 66 17 12 5 2.2 -0.1 Avg 0.66 376  3.0
453 Mirae Asset Great Consumer 36.7 20.8 21.9 18.1 10 4 5 3 67 15 15 3 2.1 0.0 -Avg 0.39 4,496  3.5
454 Nippon India Consumption 36.8 21.3 24.4 15.7 9 2 1 6 68 17 12 3 3.2 0.0 -Avg 0.66 2,023  È 4.4
455 Quant Consumption - - - - - - - - 50 32 12 6 - - - 0.81 351 NR -
456 SBI Consumption Opportunities 38.1 24.5 23.6 18.2 7 1 2 2 39 36 23 3 7.3 0.3 Avg 0.90 3,101  3.7
457 Sundaram Consumption 31.8 18.8 18.7 15.9 13 8 10 5 80 8 7 5 0.7 -0.3 +Avg 1.33 1,724  1.8
458 Tata India Consumer 41.7 20.8 21.3 - 2 3 6 - 60 28 9 2 2.2 0.0 High 0.74 2,522  2.0
459 UTI India Consumer 37.1 14.7 16.9 12.2 8 11 11 7 71 19 5 5 -3.2 -1.0 +Avg 1.57 777  1.5
Equity: Thematic-Consumption 38.3 19.7 20.9 16.6 13 11 11 7 62 21 10 6 1.8 -0.2 0.84 2,253
BSE 500 TRI 35.9 15.6 19.8 14.3
Equity: International
460 ABSL Global Emerging Opportunities 32.7 4.9 13.8 7.2 25 23 9 15 - - - - - - - 0.61 240 NR -
461 ABSL Global Excellence Equity FoF 34.3 9.2 8.9 6.9 22 12 16 17 - - - - - - - 0.68 200 NR -
462 ABSL International Equity 23.9 4.7 9.7 9.1 38 25 14 8 82 7 11 1 - - - 2.07 192 NR -
463 ABSL NASDAQ 100 FOF 40.6 - - - 14 - - - - - - - - - - 0.32 390 NR -
464 Axis Global Equity Alpha FoF 32.1 9.5 - - 26 11 - - - - - - - - - 0.89 821 NR -
465 Axis Global Innovation FoF 37.7 6.6 - - 20 17 - - - - - - - - - 0.86 511 NR -
466 Axis Greater China Equity FoF 15.1 -4.6 - - 49 37 - - - - - - - - - 0.54 255 NR -
467 Axis NASDAQ 100 FoF 40.1 - - - 16 - - - - - - - - - - 0.30 171 NR -
468 Bandhan US Equity FoF 48.4 13.1 - - 2 3 - - - - - - - - - 0.74 318 NR -
469 Baroda BNP Paribas Aqua FoF $ 26.8 5.2 - - 32 20 - - - - - - - - - 0.51 50 NR -
470 DSP Global Allocation FoF 22.0 5.1 9.9 7.8 40 21 13 13 - - - - - - - 1.46 55 NR -
471 DSP Global Clean Energy Fund of Fund 17.7 -0.5 7.5 3.2 47 33 19 21 - - - - - - - 1.54 143 NR -
472 DSP Global Innovation FoF 41.5 - - - 12 - - - - - - - - - - 1.16 892 NR -
473 DSP US Flexible Equity Fund of Fund 27.3 10.3 16.6 13.9 31 8 5 3 - - - - - - - 1.49 872 NR -
474 DSP World Gold FoF 43.9 9.8 11.2 10.0 8 10 11 6 - - - - - - - 1.66 1,098 NR -
475 DSP World Mining FoF 17.7 7.0 15.9 9.0 45 16 6 9 - - - - - - - 1.51 142 NR -
476 Edelweiss ASEAN Equity Off Shore 24.5 4.8 6.2 6.3 - - - - - - - - - - - 0.74 87 NR -
477 Edelweiss Emerging Market Opp Eqt Offshr 18.5 -3.2 4.0 5.0 44 36 24 19 - - - - - - - 0.55 113 NR -
478 Edelweiss Europe Dynamic Equity Offshr 25.7 7.6 12.0 8.2 35 15 10 12 - - - - - - - 0.59 78 NR -
479 Edelweiss Greater China Equity Off-shore 19.3 -8.3 5.7 8.5 42 39 22 10 - - - - - - - 0.68 1,474 NR -
480 Edelweiss US Technology Equity FoF 45.6 6.1 - - 3 19 - - - - - - - - - 0.66 2,251 NR -
481 Edelweiss US Value Equity Offshr 30.9 10.5 14.5 11.5 27 7 8 4 - - - - - - - 0.68 116 NR -
482 Franklin Asian Equity 25.4 -1.5 5.7 7.0 36 35 23 16 90 9 - 2 - - - 1.68 261 NR -
483 Franklin India Feeder Franklin US Opp 44.8 5.1 17.5 15.3 7 22 3 1 - - - - - - - 0.61 3,565 NR -
484 Franklin India Feeder Templtn Europn Opp 17.5 2.6 3.3 2.8 48 29 25 22 - - - - - - - 0.51 17 NR -
485 HDFC Developed World Indexes FoF 36.3 10.3 - - 21 9 - - - - - - - - - 0.23 1,269 NR -
486 HSBC Asia Pacific (ExJapan) Dividend Yld 29.5 6.5 9.0 8.4 29 18 15 11 - - - - - - - 1.01 8 NR -
487 HSBC Brazil 1.1 4.8 -5.2 - 51 24 27 - - - - - - - - 1.00 40 NR -
488 HSBC Global Emerging Markets 26.4 -0.4 6.8 - 33 32 21 - - - - - - - - 0.80 37 NR -
489 HSBC Global Equity Climate Change FoF 26.2 -1.4 - - 34 34 - - - - - - - - - 0.79 83 NR -
490 ICICI Pru Global Advantage (FOF) 28.3 4.1 8.5 - 30 26 17 - - - - - - - - 0.59 350 NR -
Equity: International 31.6 5.4 10.3 8.5 51 39 27 22 0.73 631
BSE 500 Total Return Index 35.9 15.6 19.8 14.3
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31 2024. Market cap breakup for
underlying funds in international FOFs is unavailable. $ Expense as of September 30, 2024.

Mutual Fund Insight December 2024 71

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 SCOREBOARD Equity Funds
Performance Portfolio Composition (%)
Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Equity: International
491 ICICI Pru Global Stable Equity (FOF) 19.0 8.0 10.4 9.6 43 14 12 7 - - - - - - - 1.05 125 NR -
492 ICICI Pru Strategic Mtal & Enrgy Eqt FoF 17.7 - - - 46 - - - - - - - - - - 0.63 101 NR -
493 ICICI Pru US Bluechip Equity 30.8 11.4 16.8 14.7 28 6 4 2 95 2 - 2 - - - 1.19 3,336 NR -
494 Invesco India Global Consumer Trends 37.7 -6.1 - - - - - - - - - - - - - 0.60 297 NR -
495 Invesco India Global Equity Income FoF 34.6 13.3 15.3 11.2 - - - - - - - - - - - 0.86 25 NR -
496 Invesco Ind-Invesco Pan European Eqt FoF 14.1 6.6 9.5 6.5 - - - - - - - - - - - 0.58 38 NR -
497 Invesco Ind-Invsco EQQQ NSDQ-100 ETF FoF 44.6 - - - - - - - - - - - - - - 0.16 409 NR -
498 Kotak Global Emerging Market 22.3 0.7 8.0 5.7 39 31 18 18 - - - - - - - 1.27 93 NR -
499 Kotak Global Innovation FoF 37.7 1.5 - - 19 30 - - - - - - - - - 0.45 712 NR -
500 Kotak International REIT FOF 24.7 -0.3 - - - - - - - - - - - - - 0.53 63 NR -
501 Kotak Nasdaq 100 FOF 44.7 13.7 - - - - - - - - - - - - - 0.30 3,200 NR -
502 Mahindra Manulife Asia Pacific REITs FoF 17.0 -3.9 - - - - - - - - - - - - - 0.45 21 NR -
503 Mirae Asset Glob Elec & Aut Veh ETFs FoF 8.7 - - - 50 - - - - - - - - - - 0.23 65 NR -
504 Mirae Asset Hang Seng TECH ETF FoF 45.0 - - - 5 - - - - - - - - - - 0.10 88 NR -
505 Mirae Asset NYSE FANG+ ETF FoF 62.5 19.6 - - 1 1 - - - - - - - - - 0.06 1,462 NR -
506 Mirae Asset S&P 500 Top 50 ETF FoF 44.9 15.4 - - 6 2 - - - - - - - - - 0.09 536 NR -
507 Mirae Asset X Arti Int & Tech ETF FoF 41.1 - - - 13 - - - - - - - - - - 0.25 317 NR -
508 Motilal Oswal Developed Mkt Ex US ETFs 21.1 - - - 41 - - - - - - - - - - 0.17 32 NR -
509 Motilal Oswal Nasdaq 100 FOF 42.4 12.7 23.8 - 9 4 1 - - - - - - - - 0.24 5,035 NR -
510 Navi NASDAQ 100 FoF 39.8 - - - 17 - - - - - - - - - - 0.16 978 NR -
511 Navi US Total Stock Market FoF 38.6 - - - 18 - - - - - - - - - - 0.06 950 NR -
512 Nippon India Japan Equity 24.5 2.8 7.3 7.7 37 27 20 14 89 - - 11 - - - 1.27 273 NR -
513 Nippon India Taiwan Equity 45.1 - - - 4 - - - 26 35 21 19 - - - 1.04 357 NR -
514 Nippon India US Equity Opportunities 33.6 8.9 15.7 - 23 13 7 - 99 - - 1 - - - 1.30 681 NR -
515 PGIM Ind Glbl Selct Real Estate Sec FoF 33.2 - - - 24 - - - - - - - - - - 0.55 58 NR -
516 PGIM India Emerging Markets Equity 41.8 -6.0 3.2 4.0 11 38 26 20 - - - - - - - 0.63 97 NR -
517 PGIM India Global Equity Opportunities 40.3 2.7 18.7 11.5 15 28 2 5 - - - - - - - 0.61 1,352 NR -
518 SBI International Access-US Equity FoF 42.4 11.9 - - 10 5 - - - - - - - - - 0.90 940 NR -
519 Sundaram Global Brand 22.7 7.0 13.7 9.0 - - - - - - - - - - - 0.17 115 NR -
Equity: International 31.6 5.4 10.3 8.5 51 39 27 22 0.73 631
BSE 500 TRI 35.9 15.6 19.8 14.3
Equity: Multi Cap
520 ABSL Multi-Cap 40.7 17.7 - - 16 9 - - 48 39 11 2 2.8 0.4 -Avg 0.79 6,567  3.0
521 Axis Multicap 50.8 - - - 2 - - - 54 36 7 2 - - - 0.71 6,817 NR -
522 Bandhan Multi Cap 40.6 - - - 17 - - - 55 29 14 2 - - - 0.55 2,541 NR -
523 Bank of India Multi Cap 44.2 - - - 10 - - - 45 37 17 2 - - - 1.29 723 NR -
524 Baroda BNP Paribas Multi Cap $ 50.5 19.6 24.1 16.4 3 5 - - 53 37 7 4 4.2 0.6 Avg 0.93 2,811  Ç 3.0
525 Canara Robeco Multi Cap 42.7 - - - 13 - - - 49 42 4 5 - - - 0.40 3,711 NR -
526 DSP Multicap - - - - - - - - 29 46 19 6 - - - 0.52 1,664 NR -
527 Edelweiss Multi Cap 51.3 - - - 1 - - - 59 33 5 3 - - - 0.26 2,512 NR -
528 Franklin India Multi Cap - - - - - - - - 51 34 9 6 - - - 0.27 4,543 NR -
529 HDFC Multi Cap 41.0 - - - 15 - - - 53 31 12 4 - - - 0.64 17,941 NR -
530 HSBC Multi Cap 49.6 - - - 5 - - - 51 36 11 2 - - - 0.60 4,239 NR -
531 ICICI Pru Multicap 45.4 21.2 22.8 16.5 9 3 - - 47 32 11 10 5.5 1.4 -Avg 0.93 14,691  Ç 4.0
532 Invesco India Multicap 46.0 19.2 24.1 17.3 8 8 - - 44 40 11 5 3.8 0.6 Avg 0.66 3,962  3.0
533 ITI Multi Cap 43.9 19.6 18.6 - 12 6 - - 51 34 15 1 4.1 0.7 Avg 0.40 1,425  3.0
534 Kotak Multicap 49.6 25.7 - - 4 2 - - 49 35 13 3 8.3 2.0 Avg 0.38 15,421  4.0
535 LIC MF Multi Cap 47.8 - - - 6 - - - 40 34 25 1 - - - 0.46 1,404 NR -
536 Mahindra Manulife Multi Cap 42.5 20.1 26.8 - 14 4 - - 60 29 8 2 4.1 0.7 +Avg 0.45 4,869  È 2.0
537 Mirae Asset Multicap 38.2 - - - 20 - - - 52 30 18 0 - - - 0.42 3,473 NR -
538 Motilal Oswal Multi Cap - - - - - - - - 41 18 21 20 - - - 0.62 1,740 NR -
539 Nippon India Multi Cap 43.9 27.2 25.7 16.3 11 1 - - 53 34 10 2 10.7 1.7 Low 0.73 39,622  Ç 5.0
540 PGIM India Multi Cap - - - - - - - - 56 24 14 6 - - - 0.73 321 NR -
541 PGIM India Retirement - - - - - - - - 57 30 8 5 - - - 0.66 72 NR -
Equity: Multi Cap 43.4 20.7 23 10 0 0 50 33 13 4 4.8 0.9 0.62 6,439
BSE 500 TRI 35.9 15.6 19.8 14.3
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31 2024. Market cap breakup for
underlying funds in international FOFs is unavailable. $ Expense as of September 30, 2024.

72 Mutual Fund Insight December 2024

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 Performance Portfolio Composition (%)
Returns (%) Rank Large Mid Small Cash & Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Cap Cap Cap Others Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Equity: Multi Cap

542 Quant Active 36.7 19.3 29.4 20.2 22 7 - - 48 32 12 8 2.8 0.5 High 0.58 11,229  È 1.0
543 SBI Multicap 39.2 - - - 19 - - - 44 34 17 5 - - - 0.88 19,295 NR -
544 Sundaram Multi Cap 39.8 17.3 21.9 15.6 18 10 - - 49 43 3 5 2.1 0.4 +Avg 0.90 2,915  È 2.0
545 Tata Multicap 29.4 - - - 23 - - - 48 31 18 3 - - - 0.48 3,365 NR -
546 Union Multicap 36.9 - - - 21 - - - 59 21 17 4 - - - 0.90 1,111 NR -
547 WhiteOak Capital Multi Cap 46.5 - - - 7 - - - 47 33 13 7 - - - 0.43 1,301 NR -
Equity: Multi Cap 43.4 20.7 23 10 0 0 50 33 13 4 4.8 0.9 0.62 6,439
BSE 500 TRI 35.9 15.6 19.8 14.3
Equity: Thematic-ESG
548 ABSL ESG Integration Strategy 37.9 10.2 - - 4 8 - - 64 27 6 3 -3.4 -0.5 - 1.40 734 NR -
549 Axis ESG Integration Strategy 34.5 9.7 - - 5 9 - - 87 5 4 4 -3.3 -0.5 - 1.27 1,446 NR -
550 ICICI Pru ESG Exclusionary Strategy 44.7 18.2 - - 2 2 - - 70 11 17 3 5.1 0.5 - 1.01 1,652 NR -
551 Invesco India ESG Integration Strategy 38.6 12.6 - - 3 5 - - 72 15 11 2 -0.6 -0.2 - 1.00 547 NR -
552 Kotak ESG Exclusionary Strategy 32.8 12.7 - - 6 4 - - 87 12 - 1 -1.0 -0.3 - 0.81 1,023 NR -
553 Mirae Asset Nifty100 ESG Sec Leaders FoF 29.5 10.8 - - 9 7 - - 100 - - 0 -2.6 -1.2 - 0.05 111 NR -
554 Quant ESG Equity 45.4 26.5 - - 1 1 - - 70 22 7 1 10.5 1.0 - 0.79 334 NR -
555 Quantum ESG Best In Class Strategy 32.1 13.0 18.7 - 7 3 1 - 68 23 4 5 -0.3 -0.2 - 0.85 95 NR -
556 SBI ESG Exclusionary Strategy 31.2 12.2 16.7 13.7 8 6 2 1 79 20 - 2 -1.1 -0.4 - 1.31 6,112 NR -
557 WhiteOak Capital ESG Best-In-Class Strat - - - - - - - - - - - - - - - 0.49 - NR -
Equity: Thematic-ESG 36.3 14.0 17.7 13.7 9 9 2 1 77 17 8 2 0.4 -0.2 0.90 1,339
BSE 100 TRI 32.2 14.0 17.8 13.3

SCOREBOARD Hybrid Funds Portfolio

Performance Composition (%)
Returns (%) Rank Equity Debt Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Min Max Min Max Alpha Ratio Grade Ratio (%) (` cr) Rating Rating
Hybrid: Aggressive Hybrid
558 ABSL Equity Hybrid '95 29.3 11.7 15.1 12.2 27 36 28 18 73 78 19 23 1.1 0.0 +Avg 1.10 8,099  2.1
559 ABSL Retirement 40s 28.7 12.5 13.4 - 32 32 38 - 72 74 16 19 1.8 0.1 Avg 1.01 117  1.4
560 Axis Aggressive Hybrid 29.2 9.4 13.9 - 28 40 33 - 75 77 21 27 -1.4 -0.5 High 1.05 1,702  2.3
561 Axis Children's 26.4 8.5 13.6 - 37 42 34 - 72 76 24 30 -2.0 -0.6 High 1.28 935  2.4
562 Axis Retirement -Aggressive Plan 35.9 11.3 - - 8 37 - - 78 80 18 21 0.5 -0.1 High 0.87 969  1.0
563 Bandhan Asset Allocation Aggressive 28.9 12.5 14.5 11.0 29 33 30 20 60 69 27 35 2.0 0.1 -Avg 0.48 20  2.0
564 Bandhan Hybrid Equity 32.2 13.8 17.5 - 18 24 17 - 70 79 17 26 2.6 0.4 +Avg 1.02 818  2.9
565 Bandhan Retirement 25.1 - - - 40 - - - 48 54 24 29 - - - 0.71 178 NR -
566 Bank of India Mid & Small Cap Eqt & Debt 40.2 20.0 27.1 - 5 4 1 - 70 79 19 26 8.6 0.8 High 1.02 1,000  Ç 3.8
567 Baroda BNP Paribas Aggressive Hybrid $ 33.9 15.7 18.4 - 14 16 12 - 68 74 21 27 4.7 0.9 -Avg 0.47 1,200  4.5
568 Baroda BNP Paribas Retirement # $ - - - - - - - - 54 76 21 28 - - - 0.27 330 NR -
569 Canara Robeco Equity Hybrid 31.4 13.7 17.6 14.3 21 25 14 7 71 75 19 24 2.9 0.4 -Avg 0.58 11,278  4.1
570 DSP Equity & Bond 33.5 14.2 17.4 14.4 16 22 18 6 69 75 24 29 3.1 0.4 Avg 0.73 10,610  3.2
571 Edelweiss Aggressive Hybrid 34.9 19.4 20.3 14.1 9 5 6 - 73 77 16 32 8.0 1.5 Low 0.38 2,198  4.4
572 Franklin India Equity Hybrid 31.1 14.8 17.5 13.7 22 19 15 9 66 71 24 30 4.1 0.6 -Avg 1.01 2,066  3.3
573 Groww Aggressive Hybrid 30.6 12.7 15.2 - 24 30 27 - 68 79 22 33 1.9 0.2 +Avg 0.85 47  È 2.6
574 HDFC Children's Gift 29.9 17.0 19.8 15.0 25 10 10 4 64 68 27 32 6.4 0.8 Low 0.89 10,042  4.5
575 HDFC Hybrid Equity 24.0 13.4 16.8 13.6 42 26 20 10 66 72 26 32 2.9 0.3 Avg 1.02 24,796  3.3
576 HDFC Retirement Savings Hybrid Equity 28.7 16.3 18.9 - 31 15 11 - 69 73 14 20 5.8 0.7 Low 0.92 1,615  4.1
577 HSBC Aggressive Hybrid 33.9 14.3 16.2 13.3 15 20 24 12 72 79 20 26 3.5 0.4 +Avg 0.82 5,849  2.3
578 HSBC Managed Solutions India Growth 32.0 14.3 17.5 13.0 19 21 16 14 75 79 18 21 3.1 0.5 +Avg 0.09 43  2.7
579 ICICI Pru Child Care Gift 38.2 17.4 18.0 12.7 6 9 13 16 79 84 13 21 5.9 0.9 Avg 1.51 1,394  3.1
580 ICICI Pru Equity & Debt 34.8 20.2 22.9 16.7 10 3 4 1 66 73 18 28 8.9 1.4 -Avg 0.98 41,396  4.8
581 ICICI Pru Retirement Hybrid Aggressive 43.9 19.2 20.2 - 2 6 7 - 79 86 8 17 7.4 1.1 Avg 0.83 685  3.5
582 Invesco India Aggressive Hybrid 41.9 16.9 16.7 - 4 11 21 - 71 78 21 26 5.6 1.0 -Avg 0.84 545  2.6
583 JM Aggressive Hybrid 46.3 22.9 26.6 14.0 1 2 2 8 70 80 18 21 11.2 1.2 Avg 0.57 643  3.5
584 Kotak Equity Hybrid 34.5 16.7 19.9 14.7 12 13 9 5 69 75 22 29 5.8 0.9 Low 0.45 6,715  4.0
Hybrid: Aggressive Hybrid 31.9 14.8 17.5 13.3 43 42 38 23 70 77 19 25 3.9 0.5 0.86 5,736
VR Balanced TRI 26.1 11.6 15.1 11.8
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31, 2024. # Funds launched less than a
year ago. $ Expense as of September 30, 2024.

Mutual Fund Insight December 2024 73

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 SCOREBOARD Hybrid Funds
Portfolio
Performance Composition (%)
Returns (%) Rank Equity Debt Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Min Max Min Max Alpha Ratio Grade Ratio (%) (` cr) Rating Rating
Hybrid: Aggressive Hybrid
585 LIC MF Aggressive Hybrid 31.4 12.5 13.6 10.5 20 34 36 23 75 77 20 22 2.0 0.1 Avg 1.40 560  1.8
586 LIC MF ULIS 22.3 10.4 13.6 11.0 43 39 35 21 74 79 19 24 0.1 -0.2 +Avg 1.44 525  2.4
587 Mahindra Manulife Aggressive Hybrid 36.0 17.6 21.2 - 7 8 5 - 76 79 18 21 5.9 1.4 Avg 0.48 1,488  4.1
588 Mirae Asset Aggressive Hybrid 28.3 13.2 16.7 - 34 29 22 - 72 75 19 26 2.3 0.3 Avg 0.41 9,481  3.8
589 Navi Aggressive Hybrid 28.5 14.1 15.4 - 33 23 26 - 62 75 20 27 3.4 0.5 Avg 0.42 113  3.0
590 Nippon India Equity Hybrid 30.6 16.4 14.3 11.5 23 14 31 19 72 75 19 25 5.3 1.1 +Avg 1.16 3,976  Ç 1.4
591 PGIM India Hybrid Equity 25.0 9.3 13.5 10.3 41 41 37 - 77 79 20 23 -1.0 -0.4 High 0.77 219  1.8
592 Quant Absolute 34.6 17.9 25.3 16.6 11 7 3 2 70 80 11 24 6.4 0.8 +Avg 0.70 2,352  5.0
593 SBI Equity Hybrid 25.1 11.3 14.8 13.3 39 38 29 11 72 77 18 22 1.0 -0.1 -Avg 0.73 74,852  È 3.4
594 SBI Magnum Children's Benefit Investment 43.9 23.5 - - 3 1 - - 74 90 0 6 11.6 1.2 -Avg 0.81 2,856  5.0
595 SBI Retirement Benefit Aggressive Hybrid 26.1 15.5 - - 38 17 - - 77 79 11 19 4.7 0.7 -Avg 1.06 1,578  4.0
596 Shriram Aggressive Hybrid 27.6 12.6 14.1 10.9 35 31 32 22 66 74 25 33 1.8 0.2 Avg 0.85 52  2.4
597 Sundaram Aggressive Hybrid 29.8 13.2 16.6 12.8 26 28 23 15 70 74 23 26 2.4 0.3 Avg 0.70 5,506  3.0
598 Tata Hybrid Equity 28.8 13.4 16.0 12.3 30 27 25 17 74 79 18 23 2.7 0.3 Avg 0.98 4,312  2.8
599 Tata Retirement Savings Moderate 33.2 14.8 16.8 15.1 17 18 19 3 79 85 8 14 4.1 0.5 Avg 0.60 2,233  2.9
600 Union Aggressive Hybrid 27.2 12.0 - - 36 35 - - 72 77 18 21 1.4 0.0 +Avg 1.27 666  2.4
601 UTI Aggressive Hybrid 34.3 16.8 20.0 13.2 13 12 8 13 70 72 22 27 5.6 1.2 -Avg 1.24 6,330  3.4
Hybrid: Aggressive Hybrid 31.9 14.8 17.5 13.3 43 42 38 23 70 77 19 25 3.9 0.5 0.86 5,736
VR Balanced TRI 26.1 11.6 15.1 11.8
Hybrid: Balanced Hybrid
602 360 ONE Balanced Hybrid 26.4 - - - 1 - - - 42 50 48 56 - - - 0.43 831 NR -
603 Bandhan Asset Allocation Moderate 22.5 10.4 11.6 9.9 4 2 2 2 41 51 46 54 1.2 -0.3 - 0.41 20 NR -
604 Franklin India Pension 20.1 10.1 10.6 9.7 5 3 4 3 38 40 49 60 1.4 -0.3 - 1.50 527 NR -
605 UTI Children's Hybrid 18.0 9.1 11.4 9.3 6 4 3 4 39 40 52 58 0.4 -0.4 - 1.52 4,721 NR -
606 UTI Retirement 22.9 12.5 14.4 10.4 3 1 1 1 38 40 52 59 3.4 0.0 - 1.02 4,752 NR -
607 WhiteOak Capital Balanced Hybrid 24.9 - - - 2 - - - 48 57 41 49 - - - 0.69 144 NR -
Hybrid: Balanced Hybrid 22.5 10.5 12.0 9.8 6 4 4 4 41 46 48 56 1.6 -0.2 0.93 1,833
VR Balanced TRI 26.1 11.6 15.1 11.8
Hybrid: Conservative Hybrid
608 ABSL Regular Savings 15.1 9.3 10.6 10.0 19 13 10 5 21 24 71 75 1.8 0.1 Avg 1.01 1,413  2.9
609 ABSL Retirement 50s 14.7 8.2 7.5 - 21 24 24 - 23 24 62 68 0.5 -0.2 Avg 0.59 26  1.6
610 Axis Conservative Hybrid 13.0 7.1 9.5 8.3 27 28 15 18 23 24 73 75 -0.6 -0.6 +Avg 0.97 305  2.6
611 Axis Retirement-Conservative 20.5 9.0 - - 2 18 - - 38 40 56 59 0.4 0.1 High 0.72 77  1.6
612 Bandhan Asset Allocation Conservative 13.9 7.7 8.3 8.4 22 25 21 16 19 25 69 77 0.1 -0.4 Avg 0.18 6  2.9
613 Bandhan Conservative Hybrid 13.4 6.6 7.4 8.0 24 30 25 20 18 27 64 79 -1.0 -0.8 Avg 1.01 117  2.2
614 Bank of India Conservative Hybrid 13.1 13.7 12.6 8.5 26 1 3 15 18 25 60 75 5.8 0.4 Avg 1.28 67  3.1
615 Baroda BNP Paribas Conservative Hybrid $ 15.0 8.7 9.3 9.4 20 21 18 10 20 23 66 76 1.1 -0.1 -Avg 0.51 756  3.4
616 Canara Robeco Conservative Hybrid 15.6 8.8 10.7 9.4 16 19 9 9 22 25 65 74 1.2 0.0 -Avg 0.68 979  4.4
617 DSP Regular Savings 16.1 9.3 9.8 8.4 12 12 13 17 21 25 69 77 1.6 0.1 +Avg 0.50 181  2.3
618 Franklin India Debt Hybrid 15.7 9.0 9.1 8.7 15 16 19 12 23 26 63 74 1.4 0.0 Avg 0.72 217  2.9
619 HDFC Hybrid Debt 16.8 10.6 11.4 9.6 9 7 6 7 22 24 67 74 2.7 0.5 +Avg 1.20 3,342  3.5
620 HDFC Retirement Savings Hybrid Debt 15.6 9.8 10.2 - 17 11 12 - 23 26 46 62 2.3 0.2 Low 1.02 163  4.0
621 HSBC Conservative Hybrid 19.0 9.3 9.6 8.6 4 14 14 13 22 24 69 74 1.6 0.1 +Avg 1.34 134  3.0
622 HSBC Managed Solutions India Cons 11.8 6.7 7.1 7.2 30 29 26 22 9 10 84 88 -0.2 -0.5 -Avg 0.09 23  2.0
623 ICICI Pru Income Optimizer (FOF) 16.3 11.9 11.6 9.5 10 3 5 8 18 38 11 63 4.2 0.8 Low 0.53 278  4.6
624 ICICI Pru Regular Savings 15.9 9.9 10.8 10.5 14 9 7 3 21 24 68 81 2.4 0.3 Low 0.91 3,303  4.6
625 ICICI Pru Retirement Hybrid Conservative 16.2 9.8 10.5 - 11 10 11 - 24 29 59 71 2.0 0.3 Avg 1.04 79  3.2
626 Kotak Debt Hybrid 19.4 11.1 12.9 11.1 3 5 2 2 23 25 62 73 2.9 0.8 Avg 0.47 2,886  5.0
627 LIC MF Conservative Hybrid 12.3 6.3 7.7 7.4 28 31 23 21 20 22 76 80 -1.3 -0.9 +Avg 1.22 51  2.4
628 Navi Conservative Hybrid 12.1 7.4 7.7 8.1 29 27 22 19 16 20 55 69 0.2 -0.4 -Avg 0.37 36  2.9
629 Nippon India Hybrid Bond 10.7 8.5 5.3 6.6 31 22 27 23 12 13 75 83 1.6 -0.1 -Avg 1.12 831  1.0
630 Nippon India Retirement Incm Generation 16.9 8.8 9.1 - 7 20 20 - 19 20 74 77 0.9 0.0 High 1.03 164  1.8
631 Parag Parikh Conservative Hybrid 17.1 11.5 - - 6 4 - - 10 15 75 79 4.2 0.5 Low 0.34 2,250  5.0
632 SBI Conservative Hybrid 15.4 10.3 11.8 10.4 18 8 4 4 22 24 69 73 2.8 0.3 -Avg 0.62 10,030  È 4.4
Hybrid: Conservative Hybrid 15.5 9.3 9.8 9.0 31 31 27 23 21 25 62 73 1.6 0.1 0.84 973
VR MIP Total Return Index 17.2 8.8 9.9 8.9
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31, 2024. # Funds launched less than
a year ago. $ Expense as of September 30, 2024.

74 Mutual Fund Insight December 2024

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 Portfolio
Performance Composition (%)
Returns (%) Rank Equity Debt Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Min Max Min Max Alpha Ratio Grade Ratio (%) (` cr) Rating Rating
Hybrid: Conservative Hybrid
633 SBI Magnum Children's Benefit Savings 21.9 13.1 13.7 12.7 1 2 1 1 21 25 59 72 5.4 0.8 +Avg 0.85 121  4.0
634 SBI Retirement Benefit Cons Hybrid 16.9 10.7 - - 8 6 - - 38 40 47 59 2.2 0.8 +Avg 1.16 280  4.0
635 SBI Retirement Benefit Conservative 13.2 9.0 - - 25 17 - - 19 20 64 78 1.5 0.0 -Avg 0.92 180  3.7
636 Sundaram Conservative Hybrid 13.7 7.5 9.5 8.5 23 26 16 14 20 25 36 62 -0.1 -0.5 +Avg 1.18 28  2.1
637 Tata Retirement Savings Conservative 16.1 8.4 9.4 9.7 13 23 17 6 28 30 50 64 0.6 -0.2 High 0.96 178  2.6
638 UTI Conservative Hybrid 17.4 9.3 10.7 9.3 5 15 8 11 24 25 71 74 1.4 0.1 High 1.18 1,665  3.0
Hybrid: Conservative Hybrid 15.5 9.3 9.8 9.0 31 31 27 23 21 25 62 73 1.6 0.1 0.84 973
VR MIP TRI 17.2 8.8 9.9 8.9
Hybrid: Equity Savings
639 ABSL Equity Savings 11.3 6.6 9.3 - 20 22 17 - 12 19 23 32 -1.2 -0.7 +Avg 0.62 640  1.9
640 Axis Equity Savings 19.4 9.4 11.2 - 4 13 12 - 38 40 27 31 0.7 0.3 +Avg 1.00 1,008  2.7
641 Bandhan Equity Savings 11.5 7.8 9.1 7.7 19 19 18 - 11 24 15 31 0.5 -0.3 -Avg 0.18 162  2.7
642 Baroda BNP Paribas Equity Svngs $ 18.6 10.2 10.2 - 9 11 14 - 31 38 20 28 1.9 0.6 -Avg 1.40 251  2.6
643 DSP Equity Savings 19.0 10.3 11.3 - 6 10 10 - 28 35 20 29 2.3 0.4 +Avg 0.43 1,937  2.4
644 Edelweiss Equity Savings 17.7 10.4 11.8 9.9 10 9 9 3 24 26 22 34 2.5 0.5 -Avg 0.59 509  4.5
645 Franklin India Equity Savings 12.5 8.1 10.1 - 18 18 15 - 16 18 11 32 0.5 -0.2 Avg 0.28 702  2.5
646 HDFC Equity Savings 18.6 10.8 12.2 10.5 8 7 5 - 31 36 23 25 2.5 0.7 +Avg 0.91 5,302  3.3
647 HSBC Equity Savings 26.1 13.4 13.9 10.2 1 1 1 - 37 44 24 27 5.1 1.1 Avg 0.61 478  3.1
648 ICICI Pru Equity Savings 11.3 9.1 8.8 - 21 15 20 - 15 20 14 23 2.2 0.0 Low 0.50 12,168  3.7
649 Invesco India Equity Savings 23.6 11.0 11.2 - 2 4 11 - 30 35 18 26 2.6 0.7 Avg 0.73 313  2.4
650 Kotak Equity Savings 19.3 12.1 12.2 10.3 5 3 6 1 28 35 16 23 3.8 1.1 -Avg 0.66 7,644  4.6
651 LIC MF Equity Savings 15.8 8.6 9.8 8.0 15 16 16 - 37 42 10 14 0.2 -0.1 +Avg 1.03 22  2.0
652 Mahindra Manulife Equity Savings 17.4 9.8 13.1 - 11 12 2 - 30 41 24 30 1.3 0.3 High 0.69 564  3.6
653 Mirae Asset Equity Savings 18.8 10.5 13.1 - 7 8 3 - 36 39 16 27 2.0 0.7 +Avg 0.33 1,325  4.4
654 Nippon India Equity Savings 13.5 8.5 6.5 - 17 17 22 - 21 27 18 27 0.9 -0.1 High 0.74 658  1.0
655 PGIM India Equity Savings 10.5 6.8 8.3 9.1 22 21 21 - 15 17 20 32 -0.1 -0.5 Low 0.52 90  3.1
656 SBI Equity Savings 16.9 10.9 12.0 - 13 6 8 - 31 38 24 27 2.9 0.5 Avg 0.66 5,410  3.3
657 Sundaram Equity Savings 20.9 12.1 12.6 10.0 3 2 4 2 40 45 12 20 3.5 1.0 Avg 0.61 995  3.9
658 Tata Equity Savings 17.2 9.4 10.4 8.6 12 14 13 - 19 35 13 24 1.5 0.2 Avg 0.49 204  2.8
659 Union Equity Savings 13.9 7.5 8.9 - 16 20 19 - 21 41 17 25 -0.4 -0.5 Avg 1.42 127  2.3
660 UTI Equity Savings 16.4 11.0 12.0 - 14 5 7 - 23 39 22 28 2.7 0.9 Avg 0.80 594  3.9
Hybrid: Equity Savings 16.8 9.7 10.8 10.1 22 22 22 3 26 33 19 27 1.7 0.3 0.66 1,868
VR MIP TRI 17.2 8.8 9.9 8.9
Hybrid: Arbitrage
661 ABSL Arbitrage 8.2 6.7 5.9 6.5 8 10 7 7 -2 1 16 35 2.4 5.2 -Avg 0.29 12,503  3.6
662 Axis Arbitrage 8.1 6.8 5.9 6.6 11 6 6 3 -1 0 30 35 2.2 5.1 Low 0.34 5,529  4.0
663 Bajaj FinServ Arbitrage 7.6 - - - 24 - - - -1 0 24 33 - - - 0.25 700 NR -
664 Bandhan Arbitrage 8.2 6.8 5.8 6.5 7 8 12 9 -1 0 21 27 2.5 5.3 Avg 0.37 6,876  3.0
665 Bank of India Arbitrage 7.5 5.7 4.8 - 25 23 22 - -1 0 19 27 1.8 3.2 High 0.23 35  1.5
666 Baroda BNP Paribas Arbitrage $ 8.3 6.6 5.9 - 2 15 8 - -1 1 23 32 2.6 4.6 Avg 0.38 1,307  3.3
667 DSP Arbitrage 8.1 6.6 5.7 - 15 14 14 - -1 1 18 28 2.5 5.0 +Avg 0.34 6,122  3.0
668 Edelweiss Arbitrage 8.3 6.9 6.1 6.7 5 3 3 1 -1 0 23 44 2.5 5.3 -Avg 0.39 12,233  4.8
669 HDFC Arbitrage 8.1 6.6 5.7 6.3 9 12 16 13 -1 0 19 29 2.4 4.9 Avg 0.41 15,440  Ç 2.0
670 HSBC Arbitrage 8.0 6.6 5.9 6.5 17 16 9 6 -1 1 18 24 2.3 4.8 Avg 0.26 2,458  3.6
671 ICICI Pru Equity Arbitrage 8.1 6.7 5.9 6.5 13 11 11 8 -1 0 20 29 2.4 5.0 Avg 0.34 23,958  3.0
672 Invesco India Arbitrage 8.3 7.2 6.1 6.6 3 1 2 5 -1 0 16 26 2.4 5.9 -Avg 0.39 17,657  4.5
673 ITI Arbitrage 7.9 5.8 4.9 - 18 22 21 - -1 0 4 19 1.9 3.0 High 0.21 35  1.2
674 JM Arbitrage 7.8 6.4 5.1 5.8 19 19 20 14 -1 1 19 30 2.1 4.4 +Avg 0.40 183  1.5
675 Kotak Equity Arbitrage 8.3 7.0 6.1 6.6 1 2 4 4 -1 1 15 29 2.5 5.1 -Avg 0.43 53,683  3.9
676 LIC MF Arbitrage 7.6 6.5 5.5 - 23 17 18 - -1 0 19 31 1.9 4.8 +Avg 0.34 136  2.0
677 Mahindra Manulife Arbitrage 6.8 5.7 - - 26 24 - - -1 3 15 27 0.9 3.2 +Avg 0.41 105  2.0
678 Mirae Asset Arbitrage 8.2 6.8 - - 6 9 - - -1 2 11 17 2.6 5.0 Avg 0.15 2,773  3.1
679 Nippon India Arbitrage 8.1 6.8 6.0 6.7 12 7 5 2 -1 0 22 31 2.4 5.4 -Avg 0.39 15,258  4.1
680 NJ Arbitrage 7.7 - - - 21 - - - -1 0 14 30 - - - 0.27 351 NR -
Hybrid: Arbitrage 8.0 6.6 5.7 6.5 26 24 22 14 -1 1 19 29 2.3 4.7 0.33 8,133
CCIL T Bill Liquidity Weight 4.9 3.8 3.3 4.0
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31, 2024. # Funds launched less than
a year ago. $ Expense as of September 30, 2024.

Mutual Fund Insight December 2024 75

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 SCOREBOARD Hybrid Funds
Portfolio
Performance Composition (%)
Returns (%) Rank Equity Debt Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Min Max Min Max Alpha Ratio Grade Ratio (%) (` cr) Rating Rating
Hybrid: Arbitrage
681 Parag Parikh Arbitrage # - - - - - - - - -1 3 20 34 - - - 0.30 1,020 NR -
682 PGIM India Arbitrage 7.7 6.4 5.6 6.3 20 20 17 12 -1 0 20 39 2.0 4.5 Avg 0.35 93  2.1
683 SBI Arbitrage Opportunities 8.0 6.8 5.8 6.4 16 5 13 11 -1 0 20 27 2.4 5.0 +Avg 0.42 31,103  2.3
684 Sundaram Arbitrage 7.6 6.2 5.4 - 22 21 19 - -1 3 21 27 2.1 3.8 High 0.27 163  1.0
685 Tata Arbitrage 8.3 6.8 6.2 - 4 4 1 - -1 0 22 32 2.6 5.5 Low 0.30 11,672  4.9
686 Union Arbitrage 8.1 6.5 5.7 - 14 18 15 - -1 0 9 19 2.5 4.4 +Avg 0.41 238  2.5
687 UTI Arbitrage 8.1 6.6 5.9 6.5 10 13 10 10 -1 2 19 32 2.3 4.8 Avg 0.29 6,035  3.1
688 WhiteOak Capital Arbitrage # - - - - - - - - -1 -1 29 29 - - - 0.37 76 NR -
Hybrid: Arbitrage 8.0 6.6 5.7 6.5 26 24 22 14 -1 1 19 29 2.3 4.7 0.33 8,133
CCIL T Bill Liquidity Weight 4.9 3.8 3.3 4.0
Hybrid: Dynamic Asset Allocation
689 ABSL Balanced Advantage 24.4 12.3 14.1 11.8 15 16 9 4 52 59 20 30 2.6 0.0 Avg 0.72 7,701  3.1
690 Axis Balanced Advantage 31.0 13.4 13.8 - 4 8 11 - 59 70 26 33 3.5 0.2 Avg 0.83 2,577  2.4
691 Axis Retirement-Dynamic Plan 41.0 12.7 - - 2 13 - - 87 90 9 11 1.7 0.1 High 1.12 405  1.1
692 Bajaj FinServ Balanced Advantage # - - - - - - - - 53 80 14 28 - - - 0.55 1,334 NR -
693 Bandhan Balanced Advantage 21.8 10.3 12.5 9.9 27 24 16 9 38 43 15 27 1.1 -0.3 +Avg 0.74 2,325  2.8
694 Bank of India Balanced Advantage 24.1 15.0 12.4 8.5 17 3 18 11 61 80 7 18 4.0 0.4 +Avg 1.41 137  1.5
695 Baroda BNP Paribas Balanced Advantage $ 28.0 14.0 17.5 - 6 6 2 - 55 70 20 26 3.4 0.4 +Avg 0.72 4,187  Ç 3.8
696 Canara Robeco Balanced Advtg # - - - - - - - - 56 60 25 28 - - - 0.46 1,487 NR -
697 DSP Dynamic Asset Allocation 23.7 11.2 12.0 10.4 19 19 19 8 30 51 30 34 2.2 -0.1 -Avg 0.73 3,259  3.2
698 Edelweiss Balanced Advantage 26.0 12.6 16.6 12.4 9 15 4 2 66 78 13 27 2.6 0.1 Avg 0.51 12,690  4.3
699 Franklin India Balanced Advantage 25.5 - - - 12 - - - 42 50 13 29 - - - 0.46 2,328 NR -
700 Franklin India Dynamic Asset Allocat FoF 21.9 14.5 14.2 11.6 26 4 8 5 38 46 45 58 4.9 0.3 +Avg 1.08 1,347  3.2
701 HDFC Balanced Advantage 33.6 22.2 20.9 14.9 3 1 1 - 50 59 26 29 10.7 1.4 High 0.74 96,536  3.5
702 HDFC Dynamic PE Ratio FoF 22.3 15.2 16.6 12.5 22 2 3 1 43 49 43 50 5.6 0.4 Avg 0.23 49  4.2
703 Helios Balanced Advantage # - - - - - - - - 46 61 8 11 - - - 0.74 247 NR -
704 HSBC Balanced Advantage 25.7 12.2 12.6 10.1 10 17 15 - 39 59 30 31 3.3 0.0 -Avg 0.77 1,510  3.0
705 ICICI Pru Balanced Advantage 21.8 13.0 13.9 12.1 29 10 10 3 42 53 19 32 4.1 0.1 Low 0.87 62,051  4.2
706 Invesco India Balanced Advantage 27.9 13.8 13.2 11.5 7 7 13 6 49 67 15 24 3.7 0.3 +Avg 0.86 889  2.2
707 ITI Balanced Advantage 25.6 10.6 - - 11 22 - - 50 69 16 20 1.4 -0.2 +Avg 0.63 391  2.3
708 Kotak Balanced Advantage 23.0 12.2 13.5 - 20 18 12 - 49 55 22 24 2.9 0.0 -Avg 0.53 17,206  3.6
709 LIC MF Balanced Advantage 21.0 - - - 30 - - - 44 56 23 27 - - - 0.78 845 NR -
710 Mahindra Manulife Balanced Advantage 28.7 - - - 5 - - - 57 64 18 26 - - - 0.53 904 NR -
711 Mirae Asset Balanced Advantage 21.8 - - - 28 - - - 47 52 24 32 - - - 0.68 1,770 NR -
712 Motilal Oswal Balance Advantage 18.8 12.8 11.9 - 32 12 20 - 56 65 13 18 3.2 0.1 High 0.97 1,316  1.5
713 Nippon India Balanced Advantage 24.9 13.0 14.4 11.6 14 9 7 - 38 71 21 27 3.4 0.1 Avg 0.58 8,950  3.1
714 NJ Balanced Advantage 25.2 - - - 13 - - - 49 60 7 31 - - - 0.63 4,254 NR -
715 Parag Parikh Dynamic Asset Allocation # - - - - - - - - 13 17 51 100 - - - 0.32 1,153 NR -
716 PGIM India Balanced Advantage 22.1 11.2 - - 24 20 - - 53 75 25 35 1.1 -0.2 +Avg 0.47 1,112  2.0
717 Quant Dynamic Asset Allocation 46.2 - - - 1 - - - 65 97 1 7 - - - 0.65 1,428 NR -
718 Samco Dynamic Asset Allocation # - - - - - - - - 2 92 6 75 - - - 0.71 648 NR -
719 SBI Balanced Advantage 24.2 14.1 - - 16 5 - - 30 46 22 29 4.8 0.3 -Avg 0.68 32,941  4.0
720 Shriram Balanced Advantage 22.0 11.1 12.4 - 25 21 17 - 59 70 14 31 1.3 -0.1 Avg 0.59 59  2.9
721 Sundaram Balanced Advantage 23.9 12.6 15.6 11.0 18 14 5 7 58 61 20 26 2.8 0.1 Low 0.62 1,591  4.2
722 Tata Balanced Advantage 22.1 12.9 15.1 - 23 11 6 - 43 53 24 28 3.4 0.1 -Avg 0.41 10,453  4.0
723 Union Balanced Advantage 20.5 10.3 13.0 - 31 23 14 - 41 75 18 27 1.3 -0.3 Avg 0.98 1,527  3.4
724 UTI Balanced Advantage 22.4 - - - 21 - - - 47 61 24 32 - - - 0.51 3,078 NR -
725 UTI Unit Linked Insurance Plan 17.4 7.3 10.7 9.0 33 25 21 10 38 39 52 59 -1.3 -0.6 Avg 0.94 5,616  1.7
726 WhiteOak Capital Balanced Advantage 26.4 - - - 8 - - - 50 58 26 32 - - - 0.51 1,197 NR -
Hybrid: Dynamic Asset Allocation 25.3 12.8 14.1 11.0 33 25 21 11 47 62 21 32 3.1 0.1 0.69 7,829
VR Balanced TRI 26.1 11.6 15.1 11.8
Hybrid: Multi Asset Allocation
727 ABSL Asset Allocator FoF 31.1 14.7 17.5 - 10 10 - - 42 74 15 31 4.7 0.4 Avg 0.19 187  3.0
728 ABSL Financial Planning FOF Aggressive 32.0 15.8 18.4 13.7 6 8 3 1 62 79 14 18 4.8 0.8 +Avg 0.37 228  2.9
Hybrid: Multi Asset Allocation 27.5 14.5 16.2 11.2 31 21 12 7 44 58 20 29 4.9 0.4 0.47 3,375
VR Balanced TRI 26.1 11.6 15.1 11.8
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31, 2024. # Funds launched less than
a year ago. $ Expense as of September 30, 2024.

76 Mutual Fund Insight December 2024

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 Portfolio
Performance Composition (%)
Returns (%) Rank Equity Debt Info. Risk Expense Assets Fund Average
S.No. Fund Name 1Y 3Y 5Y 10Y 1Y 3Y 5Y 10Y Min Max Min Max Alpha Ratio Grade Ratio (%) (` cr) Rating Rating
Hybrid: Multi Asset Allocation
729 ABSL Financial Planning FOF Conservative 19.0 11.0 12.1 9.6 29 18 10 6 24 41 51 56 2.7 -0.1 Low 0.61 20  3.8
730 ABSL Financial Planning FOF Moderate 25.5 13.3 15.2 11.5 21 13 7 4 43 60 32 37 3.8 0.2 Avg 0.57 38  3.1
731 ABSL Multi Asset Allocation 29.5 - - - 14 - - - 61 64 14 18 - - - 0.59 3,729 NR -
732 ABSL Multi-Index FoF 33.2 - - - 5 - - - 49 75 0 13 - - - 0.28 18 NR -
733 Axis Multi Asset Allocation 28.1 9.1 14.2 11.7 15 20 9 3 57 76 11 19 -1.2 -0.5 High 1.04 1,312  2.2
734 Bajaj Finserv Multi Asset Allocation # - - - - - - - - 58 66 22 25 - - - 0.55 1,084 NR -
735 Bandhan Multi Asset Allocation # - - - - - - - - 57 62 8 10 - - - 0.45 1,778 NR -
736 Bank of India Multi Asset Allocation # - - - - - - - - 35 40 47 50 - - - 1.14 349 NR -
737 Baroda BNP Paribas Multi Asset $ 34.0 - - - 4 - - - 70 73 9 14 - - - 0.89 1,235 NR -
738 DSP Multi Asset Allocation 30.0 - - - 13 - - - 50 61 15 22 - - - 0.27 2,195 NR -
739 Edelweiss Multi Asset Allocation 8.4 - - - 31 - - - 0 0 45 59 - - - 0.40 1,268 NR -
740 Franklin India Multi Asset Solution FoF 20.2 11.1 8.7 - 27 16 12 - 28 48 22 44 2.9 -0.1 Avg 1.16 59  1.5
741 HDFC Asset Allocator FoF 26.5 16.1 - - 19 6 - - 43 51 29 37 6.3 0.6 -Avg 0.06 3,344  4.0
742 HDFC Multi Asset 26.0 14.3 16.9 11.9 20 12 4 - 46 53 13 15 4.9 0.3 Avg 0.74 3,702  3.5
743 HSBC Managed Solutions India Moderate 27.5 12.7 15.5 12.0 17 15 6 2 61 64 33 35 2.5 0.1 +Avg 0.09 61  2.0
744 HSBC Multi Asset Allocation # - - - - - - - - 19 69 4 13 - - - 0.52 2,058 NR -
745 ICICI Pru Asset Allocator (FOF) 22.8 14.4 15.6 13.1 24 11 - - 28 42 43 59 5.8 0.2 Low 0.16 23,263  4.4
746 ICICI Pru Multi Asset 30.8 20.3 22.0 15.3 11 2 2 - 49 61 9 19 9.7 1.1 Avg 0.70 50,496  3.9
747 ICICI Pru Passive Multi-Asset FoF 22.2 - - - 25 - - - 54 64 13 32 - - - 0.22 1,148 NR -
748 Kotak Multi Asset Allocation 31.1 - - - 9 - - - 41 60 9 12 - - - 0.30 7,568 NR -
749 Kotak Multi Asset Allocator FoF-Dynamic 31.6 18.9 21.7 15.3 7 - - - 52 63 22 29 8.1 1.2 Avg 0.33 1,618  È 4.0
750 Mahindra Manulife Multi Asset Allocation # - - - - - - - - 24 45 23 37 - - - 0.38 523 NR -
751 Mirae Asset Multi Asset Allocation # - - - - - - - - 20 68 9 22 - - - 0.44 1,705 NR -
752 Motilal Oswal Asset Alloc Passive Agrssv 30.4 13.2 - - 12 14 - - 70 76 14 19 2.7 0.3 +Avg 0.09 70  1.3
753 Motilal Oswal Asset Alloc Passive Cons 22.1 10.5 - - 26 19 - - 40 46 43 48 1.7 -0.2 Avg 0.05 44  2.0
754 Motilal Oswal Multi Asset 12.3 8.7 - - 30 21 - - 41 70 18 42 0.5 -0.3 Avg 0.92 112  1.7
755 Nippon India Asset Allocator FoF 31.3 19.1 - - 8 3 - - 44 62 14 29 8.9 0.9 -Avg 0.35 283  4.7
756 Nippon India Multi Asset Allocation 35.1 16.5 - - 3 5 - - 67 70 12 16 5.9 0.8 +Avg 0.29 4,344  2.4
757 Quant Multi Asset 46.7 23.8 29.0 18.0 1 1 1 - 48 74 5 11 12.1 1.1 +Avg 0.62 2,984  5.0
758 Quantum Multi Asset Allocation # - - - - - - - - 38 44 46 53 - - - 0.37 28 NR -
759 Quantum Multi Asset FOFs 20.1 11.1 11.1 9.3 28 17 11 7 34 39 46 51 2.7 -0.1 -Avg 0.10 60  3.0
760 SBI Multi Asset Allocation 27.3 15.8 15.2 12.4 18 7 8 - 37 43 21 40 6.4 0.4 -Avg 0.51 6,258  3.8
761 Shriram Multi Asset Allocation 25.4 - - - 23 - - - 65 73 11 20 - - - 0.40 176 NR -
762 Sundaram Multi Asset Allocation # - - - - - - - - 28 61 6 10 - - - 0.21 2,462 NR -
763 Tata Multi Asset Opportunities 28.0 15.4 - - 16 9 - - 54 58 8 12 5.2 0.6 +Avg 0.50 3,400  3.7
764 Union Multi Asset Allocation # - - - - - - - - 54 54 8 8 - - - 0.96 891 NR -
765 UTI Multi Asset Allocation 37.3 18.5 16.6 10.8 2 4 5 5 47 62 11 20 7.8 1.0 Avg 0.67 4,060  2.4
766 WhiteOak Capital Multi Asset Allocation 25.5 - - - 22 - - - 26 37 31 40 - - - 0.75 842 NR -
Hybrid: Multi Asset Allocation 27.5 14.5 16.2 11.2 31 21 12 7 44 58 20 29 4.9 0.4 0.47 3,375
VR Balanced TRI 26.1 11.6 15.1 11.8

SCOREBOARD Debt Funds

Performance Portfolio Composition
Returns (%) Rank Credit Quality (%) Avg. Maturity Info. Risk Expense Assets Fund Average
S.No. Fund Name 1M 3M 1Y 3Y 1M 3M 1Y 3Y High Medium Low (years) Alpha Ratio Grade Ratio (%) (` cr) Rating Rating
Debt: Long Duration
767 ABSL Long Duration 0.0 3.0 12.6 - 2 1 6 - 100 - - 23 - - - 0.43 146 NR -
768 Axis Long Duration -0.5 2.5 13.4 - 9 8 3 - 100 - - 32 - - - 0.26 467 NR -
769 Bandhan Long Duration -0.4 2.7 - - 6 3 - - 100 - - 29 - - - 0.25 181 NR -
770 HDFC Long Duration Debt -0.4 2.6 13.9 - 7 4 1 - 100 - - 30 - - - 0.30 4,866 NR -
771 ICICI Pru Long Term Bond 0.1 2.6 11.8 6.3 1 6 7 2 100 - - - 9.7 0.8 - 0.40 991 NR -
772 Kotak Long Duration -0.4 2.6 - - 8 7 - - 100 - - 34 - - - 0.34 185 NR -
773 Nippon India Nivesh Lakshya -0.2 2.7 13.2 7.4 3 2 4 1 100 - - 22 11.4 0.9 - 0.30 8,820 NR -
Debt: Long Duration -0.3 2.6 13.1 6.9 9 9 7 2 100 28 10.5 0.8 0.34 2,019
VR Bond Index 0.3 2.1 9.3 6.2
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31, 2024. # Funds launched less than
a year ago. $ Expense as of September 30, 2024.

Mutual Fund Insight December 2024 77

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 SCOREBOARD Debt Funds
Performance Portfolio Composition
Returns (%) Rank Credit Quality (%) Avg. Maturity Info. Risk Expense Assets Fund Average
S.No. Fund Name 1M 3M 1Y 3Y 1M 3M 1Y 3Y High Medium Low (years) Alpha Ratio Grade Ratio (%) (` cr) Rating Rating
Debt: Long Duration
774 SBI Long Duration -0.4 2.6 13.7 - 5 5 2 - 100 - - 28 - - - 0.23 2,407 NR -
775 UTI Long Duration -0.3 2.4 13.0 - 4 9 5 - 100 - - 21 - - - 0.59 109 NR -
Debt: Long Duration -0.3 2.6 13.1 6.9 9 9 7 2 100 28 10.5 0.8 0.34 2,019
VR Bond Index 0.3 2.1 9.3 6.2
Debt: Medium to Long Duration
776 ABSL Income 0.2 2.4 10.1 6.1 5 2 6 9 100 - - 15 -0.1 0.0 Avg 0.74 2,103  3.5
777 Bandhan Bond Income 0.0 2.1 10.2 5.4 10 10 5 13 100 - - 14 -0.8 -0.6 High 1.32 486  1.8
778 Canara Robeco Income 0.0 2.1 10.0 5.9 11 11 8 10 100 - - 14 -0.3 -0.3 +Avg 0.60 119  2.6
779 Franklin India Medium to Long Duration 0.1 - - - 7 - - - 100 - - 8 - - - 0.29 72 NR -
780 HDFC Income 0.0 2.3 10.5 6.2 9 5 3 8 99 - - 11 0.0 0.1 Avg 0.80 857  2.8
781 HSBC Medium to Long Duration -0.1 2.1 10.1 5.5 14 9 7 11 100 - - 10 -0.7 -0.5 +Avg 0.67 49  1.8
782 ICICI Pru Bond 0.3 2.4 9.7 6.7 2 3 9 3 100 - - - 0.5 0.7 -Avg 0.62 2,960  3.9
783 ICICI Pru Debt Management (FOF) 0.5 2.1 8.6 6.4 1 12 13 7 86 14 - - 0.3 0.2 Low 0.41 119  4.1
784 JM Medium to Long Duration -0.1 2.1 9.5 5.4 12 13 11 12 100 - - 10 -0.8 -0.6 +Avg 0.64 28  1.7
785 Kotak Bond 0.0 2.3 10.7 6.6 8 4 2 5 99 - - 14 0.3 0.5 Avg 0.69 2,171  3.3
786 LIC MF Medium to Long Duration 0.3 2.7 10.9 6.6 3 1 1 6 100 - - 8 0.3 0.3 Avg 0.21 178  2.6
787 Nippon India Income -0.1 2.2 10.4 6.8 13 8 4 2 100 - - 11 0.5 0.5 Avg 0.67 427  3.0
788 SBI Magnum Income 0.2 2.3 9.5 6.6 4 6 12 4 75 24 - 15 0.4 0.6 -Avg 0.78 1,796  4.1
789 UTI Medium to Long Duration 0.1 2.3 9.7 8.3 6 7 10 1 95 5 - 10 2.2 0.4 Avg 1.24 315  4.4
Debt: Medium to Long Duration 0.1 2.3 10.0 6.4 14 13 13 13 97 14 12 0.2 0.1 0.69 834
VR Bond Index 0.3 2.1 9.3 6.2
Debt: Medium Duration
790 ABSL Medium Term 2.0 4.1 11.8 14.4 1 1 1 1 65 24 5 5 7.9 0.9 Avg 0.85 1,921  4.5
791 Axis Strategic Bond 0.5 2.3 9.8 7.1 6 4 3 2 62 28 10 6 0.9 1.1 -Avg 0.45 1,945  4.0
792 Bandhan Bond Fund Medium Term Plan 0.3 2.1 9.3 5.6 12 12 6 12 100 - - 5 -0.6 -0.5 High 0.60 1,519  2.3
793 DSP Bond 0.5 2.2 8.6 6.1 5 8 12 8 100 - - 4 0.0 -0.1 Avg 0.40 375  2.4
794 HDFC Medium Term Debt 0.5 2.4 9.3 6.5 7 3 4 6 74 23 - 6 0.4 0.4 Avg 0.65 4,062  3.3
795 HSBC Medium Duration 0.4 2.1 9.3 6.5 8 10 5 7 90 9 - 6 0.3 0.4 Avg 0.40 834  3.5
796 ICICI Pru Medium Term Bond 0.6 2.3 9.1 6.9 3 5 9 4 60 37 - - 0.7 0.9 Low 0.74 5,983  4.3
797 Invesco India Medium Duration 0.3 2.1 9.1 6.0 11 9 7 10 98 2 - 5 -0.2 -0.3 +Avg 0.40 230  2.0
798 Kotak Medium Term 0.7 3.0 11.1 7.1 2 2 2 3 59 25 7 5 0.9 0.9 +Avg 0.67 1,659  3.2
799 Nippon India Strategic Debt 0.5 2.3 9.1 6.1 4 6 8 9 69 31 - 5 -0.1 -0.1 Avg 0.50 117  3.0
800 SBI Magnum Medium Duration 0.4 2.1 8.8 6.6 10 11 10 5 68 25 7 6 0.4 0.4 -Avg 0.69 6,800  3.9
801 Sundaram Medium Duration 0.2 1.8 7.9 4.8 13 14 14 14 97 2 - 5 -1.3 -1.5 High 1.34 43  1.6
802 Union Medium Duration 0.1 1.8 8.4 5.2 14 13 13 13 99 - - 5 -0.9 -0.9 +Avg 0.63 89  1.9
803 UTI Medium Duration 0.4 2.2 8.8 5.9 9 7 11 11 71 23 - 5 -0.2 -0.3 Avg 0.82 40  2.4
Debt: Medium Duration 0.5 2.4 9.3 6.8 14 14 14 14 80 21 7 5 0.6 0.1 0.65 1,830
VR Bond Index 0.3 2.1 9.3 6.2
Debt: Short Duration
804 ABSL Retirement 50s + Debt 0.4 1.9 8.0 5.2 25 25 24 24 100 - - 3 5.1 1.0 High 0.84 16  1.0
805 ABSL Short Term 0.6 2.2 9.0 6.8 3 3 3 3 96 3 - 4 4.6 4.0 -Avg 0.38 8,760  4.2
806 Axis Short Duration 0.5 2.1 8.8 6.5 8 11 9 5 98 2 - 4 4.7 3.7 Avg 0.36 9,342  3.9
807 Bandhan All Seasons Bond 0.5 2.1 8.7 6.1 21 12 13 17 90 10 - 4 4.9 2.7 +Avg 0.07 113  2.6
808 Bandhan Bond Short Term 0.4 2.1 9.0 6.1 23 15 2 16 100 - - 4 5.7 2.0 High 0.33 9,329  1.7
809 Bank of India Short Term Income 0.4 2.0 8.2 13.2 24 24 22 1 100 - - 4 8.2 1.0 High 0.50 71  2.0
810 Baroda BNP Paribas Short Duration $ 0.5 2.2 8.7 6.4 10 2 15 9 92 7 - 3 5.5 2.7 -Avg 0.38 203  3.3
811 Canara Robeco Short Duration 0.5 2.0 8.1 5.9 20 23 23 22 100 - - 3 4.1 2.9 -Avg 0.41 341  Ç 2.6
812 DSP Short-Term 0.5 2.2 8.6 6.2 7 8 18 15 100 - - 4 4.8 2.9 Avg 0.34 2,824  Ç 2.7
813 Groww Short Term 0.5 2.0 8.7 5.8 13 20 14 23 100 - - 3 4.5 2.0 High 0.40 53  1.5
814 HDFC Short Term Debt 0.6 2.2 8.9 6.5 2 7 8 7 90 7 - 4 4.8 3.6 -Avg 0.40 14,622  3.7
815 HSBC Short Duration 0.5 2.1 8.5 5.9 11 17 19 21 100 - - 4 4.8 2.3 +Avg 0.27 3,761  2.3
816 ICICI Pru Short Term 0.6 2.1 8.7 7.1 1 16 11 2 93 6 - - 4.4 4.7 Low 0.45 19,746  4.2
817 Invesco India Short Duration Term 0.5 2.1 8.6 6.0 18 18 17 19 99 1 - 4 4.8 2.6 +Avg 0.35 426  2.1
818 JM Short Duration 0.5 2.0 8.2 - 14 22 21 - 100 - - 3 - - Avg 0.36 126  Ç 2.1
819 Kotak Bond Short-term 0.5 2.2 8.9 6.3 5 6 4 12 100 - - 5 5.0 2.9 +Avg 0.37 16,806  3.3
820 LIC MF Short Duration 0.5 2.1 8.9 6.0 12 9 7 18 100 - - 3 5.0 2.5 Avg 0.37 111  2.3
Debt: Short Duration 0.5 2.1 8.6 6.5 25 25 25 24 97 5 4 4.9 2.9 0.37 4,525
CCIL T Bill Liquidity Weight 0.4 1.2 4.9 3.8
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31, 2024. $ Expense as of September 30, 2024.

78 Mutual Fund Insight December 2024

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 Performance Portfolio Composition
Returns (%) Rank Credit Quality (%) Avg. Maturity Info. Risk Expense Assets Fund Average
S.No. Fund Name 1M 3M 1Y 3Y 1M 3M 1Y 3Y High Medium Low (years) Alpha Ratio Grade Ratio (%) (` cr) Rating Rating
Debt: Short Duration
821 Mahindra Manulife Short Duration 0.5 2.1 9.1 6.4 16 13 1 10 93 7 - 3 5.1 3.0 Avg 0.29 63  3.0
822 Mirae Asset Short Duration 0.5 2.1 8.7 6.3 17 14 12 13 95 4 - 4 4.6 3.3 Avg 0.29 342  3.0
823 Nippon India Short Term 0.6 2.2 8.9 6.5 4 5 6 6 94 6 - 4 5.1 3.1 Avg 0.38 7,122  4.1
824 SBI Short Term Debt 0.5 2.1 8.5 6.2 9 10 20 14 96 4 - 4 4.6 3.4 -Avg 0.35 13,193  3.0
825 Sundaram Short Duration 0.5 2.4 8.9 6.5 19 1 5 8 100 - - 4 4.6 3.6 Avg 0.29 194  4.5
826 Tata Short Term Bond 0.5 2.1 8.6 6.3 15 19 16 11 100 - - 4 4.9 3.0 +Avg 0.36 2,836  3.0
827 TRUSTMF Short Duration 0.4 2.0 7.9 6.0 22 21 25 20 100 - - 3 4.4 2.6 Avg 0.23 156  2.6
828 UTI Short Duration 0.5 2.2 8.8 6.6 6 4 10 4 96 4 - 3 4.5 4.1 Low 0.40 2,567  4.5
Debt: Short Duration 0.5 2.1 8.6 6.5 25 25 25 24 97 5 4 4.9 2.9 0.37 4,525
CCIL T Bill Liquidity Weight 0.4 1.2 4.9 3.8
Debt: Low Duration
829 ABSL Low Duration 0.7 2.0 8.0 6.7 5 9 5 1 96 4 - 1 3.2 9.9 +Avg 0.42 10,408  4.2
830 Axis Treasury Advantage 0.7 2.0 8.0 6.5 8 7 7 6 98 1 - 1 3.2 8.6 Avg 0.35 6,049  3.9
831 Bandhan Low Duration 0.7 1.9 7.7 6.2 18 20 20 20 100 - - 1 3.2 6.5 +Avg 0.34 5,196  Ç 1.9
832 Baroda BNP Paribas Low Duration 0.7 2.0 7.9 6.4 10 8 14 10 94 5 - 1 3.4 6.4 -Avg 0.31 224  3.0
833 Canara Robeco Savings 0.7 1.9 7.8 6.2 7 17 18 18 100 - - 1 3.0 7.9 +Avg 0.34 843  2.3
834 DSP Low Duration 0.7 1.9 7.8 6.3 11 16 16 14 100 - - 1 3.1 9.0 +Avg 0.30 5,166  2.7
835 HDFC Low Duration 0.7 2.0 8.1 6.6 2 10 3 2 92 8 - 2 3.4 6.5 +Avg 0.45 17,268  3.6
836 HSBC Low Duration 0.7 1.9 7.9 6.5 15 15 10 9 100 - - 1 3.3 8.1 -Avg 0.24 437  3.5
837 ICICI Pru Savings 0.7 2.0 8.1 6.5 3 5 2 7 95 5 - - 3.4 3.4 High 0.42 20,751  1.7
838 Invesco India Low Duration 0.7 1.9 7.7 6.2 17 19 19 19 98 2 - 1 3.0 7.9 Avg 0.32 1,291  2.5
839 JM Low Duration 0.6 1.9 7.8 6.3 20 18 17 17 94 6 - 1 2.7 10.8 -Avg 0.31 240  Ç 3.4
840 Kotak Low Duration 0.8 2.1 8.2 6.5 1 2 1 5 95 5 - 2 3.4 6.2 High 0.42 9,292  3.0
841 LIC MF Low Duration 0.7 1.9 7.9 6.3 14 12 12 16 100 - - 1 3.0 9.4 Avg 0.27 1,494  2.9
842 Mahindra Manulife Low Duration 0.7 2.0 8.0 6.5 6 6 6 8 88 12 - 1 3.2 8.5 +Avg 0.30 557  3.4
843 Mirae Asset Low Duration 0.7 2.0 8.1 6.4 13 11 4 12 97 3 - 1 3.1 8.7 Avg 0.24 1,151  2.8
844 Nippon India Low Duration 0.7 2.0 8.0 6.5 4 3 8 4 94 6 - 1 3.2 8.9 Avg 0.38 6,981  3.9
845 SBI Magnum Low Duration 0.7 1.9 7.9 6.4 9 13 11 11 100 - - 2 3.2 8.9 Low 0.43 11,997  3.2
846 Sundaram Low Duration 0.7 2.2 8.0 6.6 16 1 9 3 95 5 - 1 2.9 9.4 Low 0.39 382  4.7
847 Tata Treasury Advantage 0.7 1.9 7.9 6.3 12 14 13 15 100 - - 1 3.0 7.8 Avg 0.24 2,228  2.6
848 UTI Low Duration 0.6 2.0 7.8 6.3 19 4 15 13 94 6 - 1 2.9 8.7 -Avg 0.37 2,707  4.5
Debt: Low Duration 0.7 2.0 7.9 6.4 20 20 20 20 96 5 1 3.1 8.1 0.34 5,233
CCIL T Bill Liquidity Weight 0.4 1.2 4.9 3.8
Debt: Ultra Short Duration
849 ABSL Savings 0.7 2.0 7.9 6.6 1 1 2 4 88 12 - 1 2.7 10.3 +Avg 0.35 12,417  3.1
850 Axis Ultra Short Duration 0.7 1.9 7.9 6.6 6 5 4 2 94 6 - 0 2.8 12.9 -Avg 0.36 5,202  4.1
851 Bandhan Ultra Short Term 0.6 1.9 7.6 6.3 18 17 17 18 100 - - 0 2.6 10.2 +Avg 0.27 3,790  2.2
852 Bank of India Ultra Short Duration 0.6 1.8 7.1 6.0 24 23 23 23 100 - - 0 2.1 10.1 +Avg 0.38 165  1.9
853 Baroda BNP Paribas Ultra Short Duration 0.6 1.9 7.6 6.5 20 15 16 5 98 2 - 0 2.8 11.5 Avg 0.30 1,045  3.1
854 Canara Robeco Ultra Short Term 0.6 1.8 7.4 6.0 17 20 22 22 100 - - 0 2.3 10.3 High 0.30 687  1.9
855 DSP Ultra Short 0.6 1.9 7.7 6.5 9 10 12 9 98 2 - 1 2.7 11.0 Avg 0.30 2,780  3.0
856 Franklin India Ultra Short Duration 0.6 - - - 8 - - - 100 - - 1 - - - 0.26 225 NR -
857 HDFC Ultra Short Term 0.6 1.9 7.7 6.4 15 12 8 13 99 1 - 0 2.7 11.5 Avg 0.37 13,676  3.6
858 HSBC Ultra Short Duration 0.6 1.9 7.7 6.4 21 18 13 15 100 - - 0 2.6 11.8 Avg 0.21 2,775  3.0
859 ICICI Pru Ultra Short Term 0.7 1.9 7.8 6.6 4 7 5 3 94 5 - - 2.7 12.9 Low 0.39 13,757  4.7
860 Invesco India Ultra Short Duration 0.6 1.9 7.7 6.4 10 6 11 14 94 5 - 0 2.7 11.4 +Avg 0.24 1,008  3.0
861 ITI Ultra Short Duration 0.6 1.8 7.5 6.2 22 21 20 19 100 - - 0 2.4 11.3 Avg 0.13 156  2.6
862 Kotak Savings 0.6 1.9 7.7 6.4 16 16 15 11 97 3 - 1 2.6 11.2 +Avg 0.36 13,329  3.3
863 LIC MF Ultra Short Duration 0.7 1.9 7.6 6.1 3 8 18 21 100 - - 0 2.2 10.2 -Avg 0.25 259  2.3
864 Mahindra Manulife Ultra Short Duration 0.6 1.9 7.7 6.4 12 13 9 12 94 6 - 1 2.7 11.0 -Avg 0.28 236  3.4
865 Mirae Asset Ultra Short Duration 0.7 1.9 7.9 6.5 5 4 3 7 98 2 - 1 2.7 12.3 -Avg 0.21 1,262  3.8
866 Motilal Oswal Ultra Short Term 0.6 1.6 6.7 5.6 25 24 24 24 100 - - 0 1.7 8.2 High 0.52 376  1.3
867 Nippon India Ultra Short Duration 0.7 1.9 8.0 6.8 2 3 1 1 93 7 - 1 2.7 14.5 -Avg 0.38 7,257  4.1
868 PGIM India Ultra Short Duration 0.6 1.8 7.6 6.4 23 19 19 16 99 - - 0 2.4 12.1 -Avg 0.31 233  3.2
869 SBI Magnum Ultra Short Duration 0.6 1.9 7.7 6.3 14 14 14 17 100 - - 0 2.7 11.0 +Avg 0.31 12,642  2.5
870 Sundaram Ultra Short Duration 0.6 1.9 7.7 6.5 19 11 10 8 100 - - 1 2.6 12.1 Low 0.24 1,668  3.5
Debt: Ultra Short Duration 0.6 1.9 7.6 6.4 25 24 24 24 97 5 1 2.5 11.3 0.31 4,020
CCIL T Bill Liquidity Weight 0.4 1.2 4.9 3.8
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31, 2024. $ Expense as of September 30, 2024.

Mutual Fund Insight December 2024 79

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 SCOREBOARD Debt Funds
Performance Portfolio Composition
Returns (%) Rank Credit Quality (%) Avg. Maturity Info. Risk Expense Assets Fund Average
S.No. Fund Name 1M 3M 1Y 3Y 1M 3M 1Y 3Y High Medium Low (years) Alpha Ratio Grade Ratio (%) (` cr) Rating Rating
Debt: Ultra Short Duration
871 Tata Ultra Short Term 0.7 1.9 7.8 6.5 7 9 6 6 94 6 - 0 2.7 12.4 -Avg 0.29 2,620  3.8
872 UTI Ultra Short Duration 0.6 1.9 7.8 6.4 11 2 7 10 90 9 - 0 2.7 11.5 Avg 0.33 2,651  4.1
873 WhiteOak Capital Ultra Short Duration 0.6 1.8 7.4 6.1 13 22 21 20 100 - - 0 2.3 9.7 Avg 0.50 290  Ç 2.3
Debt: Ultra Short Duration 0.6 1.9 7.6 6.4 25 24 24 24 97 5 1 2.5 11.3 0.31 4,020
CCIL T Bill Liquidity Weight 0.4 1.2 4.9 3.8
Debt: Liquid
874 360 ONE Liquid 0.6 1.7 7.3 6.1 31 31 31 29 100 - - 0 1.8 8.8 - 0.20 725  1.6
875 ABSL Liquid 0.6 1.8 7.5 6.3 8 6 2 1 100 - - 0 2.1 10.5 - 0.21 43,797  4.5
876 Axis Liquid 0.6 1.8 7.5 6.3 17 12 7 5 100 - - 0 2.1 10.2 - 0.15 25,269  3.6
877 Bajaj Finserv Liquid 0.6 1.8 7.5 - 15 9 3 - 100 - - 0 - - - 0.10 3,823 NR -
878 Bandhan Liquid 0.6 1.8 7.5 6.3 24 21 21 15 100 - - 0 2.0 9.9 - 0.12 11,686  2.8
879 Bank of India Liquid 0.6 1.8 7.5 6.3 25 16 6 3 100 - - 0 2.0 10.4 - 0.10 1,531  3.7
880 Baroda BNP Paribas Liquid $ 0.6 1.8 7.4 6.3 20 24 24 6 100 - - 0 2.0 10.1 - 0.17 9,651  4.4
881 Canara Robeco Liquid 0.6 1.8 7.5 6.3 23 19 19 16 100 - - 0 2.0 9.5 - 0.12 2,817  2.9
882 DSP Liquidity 0.6 1.8 7.5 6.3 2 1 5 14 100 - - 0 2.0 10.2 - 0.10 15,199  3.0
883 Edelweiss Liquid 0.6 1.8 7.6 6.3 6 2 1 4 100 - - 0 2.1 10.4 - 0.08 5,046  4.2
884 Franklin India Liquid 0.6 1.8 7.5 6.3 16 8 17 19 94 6 - 0 2.0 9.9 - 0.13 2,142  Ç 2.9
885 Groww Liquid 0.6 1.8 7.5 6.1 5 14 13 30 100 - - 0 1.9 8.2 - 0.10 190  1.6
886 HDFC Liquid 0.6 1.8 7.4 6.2 26 26 25 26 100 - - 0 2.0 10.2 - 0.20 58,554  2.4
887 HSBC Liquid 0.6 1.8 7.5 6.3 13 10 14 13 100 - - 0 2.0 9.6 - 0.12 17,059  3.3
888 ICICI Pru Liquid 0.6 1.8 7.5 6.3 21 20 8 23 100 - - - 2.1 10.1 - 0.20 46,303  2.6
889 Invesco India Liquid 0.6 1.8 7.5 6.3 12 3 20 22 100 - - 0 2.0 10.0 - 0.15 13,767  2.9
890 ITI Liquid 0.6 1.7 7.1 6.0 32 32 33 33 100 - - 0 1.6 8.1 - 0.09 68  1.8
891 JM Liquid 0.6 1.8 7.4 6.2 27 27 28 24 100 - - 0 1.9 9.8 - 0.15 2,476  3.2
892 Kotak Liquid 0.6 1.8 7.5 6.3 18 25 23 21 100 - - 0 2.0 10.1 - 0.20 32,114  2.9
893 LIC MF Liquid 0.6 1.8 7.5 6.3 22 22 15 20 100 - - 0 2.0 9.8 - 0.16 8,924  3.2
894 Mahindra Manulife Liquid 0.6 1.8 7.5 6.3 9 7 4 2 100 - - 0 2.1 10.2 - 0.16 1,016  5.0
895 Mirae Asset Liquid 0.6 1.8 7.5 6.3 14 13 11 11 100 - - 0 2.0 9.6 - 0.07 10,349  3.8
896 Motilal Oswal Liquid 0.6 1.7 7.1 5.9 36 36 34 35 100 - - 0 1.6 8.8 - 0.22 835  1.0
897 Navi Liquid 0.6 1.7 7.0 6.2 33 33 36 28 100 - - 0 1.5 10.3 - 0.15 72  3.4
898 Nippon India Liquid 0.6 1.8 7.5 6.3 19 23 10 10 100 - - 0 2.1 10.6 - 0.20 26,469  3.3
899 Parag Parikh Liquid 0.6 1.7 7.1 5.9 35 35 35 34 100 - - 0 1.6 8.8 - 0.16 2,457  1.4
900 PGIM India Liquid 0.6 1.8 7.5 6.3 10 15 16 8 99 - - 0 2.0 10.0 - 0.12 374  3.9
901 Quant Liquid 0.6 1.8 7.3 6.3 1 11 30 17 100 - - 0 1.8 11.0 - 0.26 2,227  3.9
902 Quantum Liquid 0.6 1.7 7.2 6.0 34 34 32 32 100 - - 0 1.8 9.3 - 0.15 521  2.0
903 SBI Liquid 0.6 1.8 7.4 6.2 28 29 26 25 100 - - 0 2.0 10.1 - 0.19 65,453  3.0
904 Sundaram Liquid 0.6 1.8 7.5 6.3 4 5 12 9 100 - - 0 2.0 9.9 - 0.13 5,370  3.6
905 Tata Liquid 0.6 1.8 7.5 6.3 11 17 18 18 100 - - 0 2.0 10.3 - 0.20 15,858  2.9
906 TRUSTMF Liquid 0.6 1.8 7.4 6.2 30 28 27 27 100 - - 0 2.0 9.4 - 0.10 189  2.7
907 Union Liquid 0.6 1.8 7.5 6.3 7 4 9 7 100 - - 0 2.1 10.0 - 0.07 3,516  4.2
908 UTI Liquid 0.6 1.8 7.5 6.3 3 18 22 12 100 - - 0 2.0 10.2 - 0.15 21,109  3.6
909 WhiteOak Capital Liquid 0.6 1.7 7.4 6.1 29 30 29 31 100 - - 0 2.0 8.4 - 0.20 280  1.4
Debt: Liquid 0.6 1.8 7.4 6.2 36 36 36 35 100 6 0 2.0 9.8 0.15 12,701
CCIL T Bill Liquidity Weight 0.4 1.2 4.9 3.8
Debt: Money Market
910 ABSL Money Manager 0.6 1.9 7.9 6.6 11 6 4 3 100 - - 0 3.0 11.6 - 0.22 24,595  4.5
911 Axis Money Market 0.6 1.9 7.9 6.6 9 4 2 4 100 - - 0 3.0 12.3 - 0.16 14,299  4.0
912 Bajaj FinServ Money Market 0.6 1.9 7.7 - 2 7 13 - 100 - - 0 - - - 0.10 2,021 NR -
913 Bandhan Money Manager 0.6 1.9 7.8 6.5 5 2 7 11 100 - - 1 2.9 10.9 - 0.10 7,675  2.8
914 Baroda BNP Paribas Money Market $ 0.6 1.9 7.5 6.1 3 17 21 20 100 - - 0 2.4 10.0 - 0.23 275  1.3
915 DSP Savings 0.6 1.8 7.7 6.2 22 22 16 16 100 - - 0 3.2 6.3 - 0.24 4,269  2.4
916 Edelweiss Money Market 0.6 1.9 7.7 6.2 7 14 15 19 100 - - 1 2.8 8.5 - 0.15 930  1.7
917 Franklin India Money Market 0.6 1.9 7.8 6.4 17 10 12 12 100 - - 0 2.9 10.3 - 0.14 1,985  2.9
918 HDFC Money Market 0.6 1.9 7.8 6.5 14 13 10 6 100 - - 0 2.9 12.0 - 0.23 24,979  3.9
919 HSBC Money Market 0.6 1.9 7.7 6.3 16 15 14 14 100 - - 0 2.8 9.8 - 0.20 1,884  2.1
920 ICICI Pru Money Market 0.6 1.9 7.8 6.5 18 12 8 8 100 - - - 2.9 11.3 - 0.21 24,631  3.4
Debt: Money Market 0.6 1.9 7.7 6.4 23 23 23 20 100 0 2.8 10.7 0.20 9,516
CCIL T Bill Liquidity Weight 0.4 1.2 4.9 3.8
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31, 2024. $ Expense as of September 30, 2024.

80 Mutual Fund Insight December 2024

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 Performance Portfolio Composition
Returns (%) Rank Credit Quality (%) Avg. Maturity Info. Risk Expense Assets Fund Average
S.No. Fund Name 1M 3M 1Y 3Y 1M 3M 1Y 3Y High Medium Low (years) Alpha Ratio Grade Ratio (%) (` cr) Rating Rating

Debt: Money Market

921 Invesco India Money Market 0.6 1.8 7.6 6.2 19 18 17 17 100 - - 1 3.2 6.4 - 0.22 4,351  2.5
922 Kotak Money Market 0.6 1.9 7.8 6.5 13 11 6 7 100 - - 0 2.8 12.0 - 0.23 25,998  2.9
923 LIC MF Money Market 0.5 1.5 6.6 - 23 23 23 - 99 - - 0 - - - 0.59 25  1.0
924 Mirae Asset Money Market 0.6 1.9 7.9 6.4 1 1 3 13 100 - - 0 2.5 11.1 - 0.11 1,393  Ç 2.3
925 Nippon India Money Market 0.6 1.9 7.9 6.6 6 8 5 2 100 - - 1 2.8 12.8 - 0.26 15,623  4.4
926 PGIM India Money Market 0.6 1.8 7.6 6.5 21 20 19 10 100 - - 0 2.6 12.0 - 0.20 181  3.3
927 SBI Savings 0.6 1.9 7.8 6.5 15 16 11 9 100 - - 0 2.9 11.6 - 0.25 25,006  3.2
928 Sundaram Money Market 0.6 1.8 7.6 6.3 10 19 18 15 100 - - 0 2.4 10.3 - 0.17 225  2.1
929 Tata Money Market 0.6 1.9 8.0 6.7 8 5 1 1 100 - - 0 3.1 12.0 - 0.15 24,636  5.0
930 TRUSTMF Money Market 0.6 1.9 7.5 - 4 3 20 - 100 - - 1 - - - 0.16 95  2.0
931 Union Money Market 0.6 1.8 7.4 6.2 20 21 22 18 100 - - 0 2.2 10.4 - 0.20 158  2.4
932 UTI Money Market 0.6 1.9 7.8 6.6 12 9 9 5 100 - - 0 2.8 12.4 - 0.15 13,635  3.8
Debt: Money Market 0.6 1.9 7.7 6.4 23 23 23 20 100 0 2.8 10.7 0.20 9,516
CCIL T Bill Liquidity Weight 0.4 1.2 4.9 3.8
Debt: Overnight
933 ABSL Overnight 0.5 1.6 6.8 5.9 12 11 13 8 100 - - 0 1.3 7.3 - 0.08 7,876  3.8
934 Axis Overnight 0.5 1.6 6.8 5.9 4 4 3 2 100 - - 0 1.3 7.4 - 0.06 8,135  4.4
935 Bajaj Finserv Overnight 0.5 1.6 6.8 - 9 10 18 - 100 - - 0 - - - 0.08 414 NR -
936 Bandhan Overnight 0.5 1.6 6.8 5.8 13 15 9 13 100 - - 0 1.3 7.2 - 0.05 947  2.9
937 Bank of India Overnight 0.5 1.6 6.8 5.9 3 2 2 1 100 - - 0 1.3 7.6 - 0.08 60  5.0
938 Baroda BNP Paribas Overnight $ 0.5 1.6 6.8 5.8 22 7 16 12 100 - - 0 1.3 7.2 - 0.09 815  3.5
939 Canara Robeco Overnight 0.5 1.6 6.7 5.8 31 31 32 24 100 - - 0 1.2 7.0 - 0.10 328  2.1
940 DSP Overnight 0.5 1.6 6.8 5.9 11 9 12 5 100 - - - 1.3 7.2 - 0.06 2,146  3.7
941 Edelweiss Overnight 0.5 1.6 6.7 5.8 29 26 27 23 100 - - 0 1.2 7.0 - 0.11 295  2.1
942 Franklin India Overnight 0.5 1.6 6.7 5.8 27 27 28 25 100 - - 0 1.2 7.0 - 0.10 477  1.8
943 Groww Overnight 0.5 1.6 6.7 5.7 32 23 23 26 100 - - 0 1.1 6.4 - 0.14 24  1.0
944 HDFC Overnight 0.5 1.6 6.7 5.8 24 25 26 22 100 - - 0 1.2 7.0 - 0.10 10,307  2.0
945 Helios Overnight 0.5 1.6 6.7 - 33 32 31 - 100 - - 0 - - - 0.09 117 NR -
946 HSBC Overnight 0.5 1.6 6.8 5.9 5 17 8 9 100 - - 0 1.3 7.2 - 0.06 2,214  4.4
947 ICICI Pru Overnight 0.5 1.6 6.7 5.8 23 22 22 18 100 - - - 1.2 7.1 - 0.10 8,451  2.8
948 Invesco India Overnight 0.5 1.6 6.8 5.8 17 20 11 17 100 - - 0 1.3 7.2 - 0.06 379  2.5
949 ITI Overnight 0.5 1.6 6.5 5.7 28 33 34 27 100 - - 0 1.0 6.5 - 0.08 43  1.1
950 JM Overnight 0.5 1.6 6.7 5.8 25 28 29 21 100 - - 0 1.2 7.1 - 0.08 117  2.9
951 Kotak Overnight 0.5 1.6 6.8 5.9 20 14 14 7 100 - - 0 1.3 7.2 - 0.08 6,038  3.4
952 LIC MF Overnight 0.5 1.6 6.8 5.9 19 8 15 11 100 - - 0 1.2 7.3 - 0.07 869  3.6
953 Mahindra Manulife Overnight 0.5 1.6 6.8 5.9 21 16 17 6 100 - - 0 1.2 7.3 - 0.09 158  3.7
954 Mirae Asset Overnight 0.5 1.6 6.8 5.9 6 13 4 3 100 - - 0 1.3 7.3 - 0.07 636  5.0
955 Navi Overnight 0.5 1.4 6.2 - 35 35 35 - 100 - - - - - - 0.05 5 NR -
956 Nippon India Overnight 0.5 1.6 6.8 5.9 8 5 6 4 95 - - 0 1.3 7.4 - 0.08 8,050  3.7
957 NJ Overnight 0.5 1.6 6.7 - 15 30 30 - 100 - - 0 - - - 0.05 236  1.9
958 PGIM India Overnight 0.5 1.6 6.8 5.8 16 12 21 16 100 - - 0 1.2 7.3 - 0.10 37  3.6
959 Quant Overnight 0.6 1.7 7.1 - 2 1 1 - 100 - - 0 - - - 0.15 203  5.0
960 Samco Overnight 0.5 1.6 6.6 - 34 34 33 - 100 - - 0 - - - 0.13 94  1.0
961 SBI Overnight 0.5 1.6 6.7 5.8 10 24 24 20 100 - - 0 1.2 7.1 - 0.07 16,269  2.4
962 Shriram Overnight 0.5 1.6 6.7 - 30 29 25 - 100 - - 0 - - - 0.11 229  3.0
963 Sundaram Overnight 0.5 1.6 6.8 5.8 18 19 19 19 100 - - - 1.3 7.2 - 0.07 680  2.5
964 Tata Overnight 0.5 1.6 6.8 5.9 7 6 5 10 100 - - 0 1.3 7.2 - 0.06 4,645  3.2
965 TRUSTMF Overnight 0.6 1.6 6.8 - 1 3 20 - 100 - - 0 - - - 0.07 336  3.0
966 Union Overnight 0.5 1.6 6.8 5.8 26 21 7 14 100 - - 0 1.3 7.3 - 0.07 181  2.9
967 UTI Overnight 0.5 1.6 6.8 5.8 14 18 10 15 100 - - 0 1.3 7.2 - 0.06 4,768  3.0
Debt: Overnight 0.5 1.6 6.7 5.8 35 35 35 27 100 0 1.2 7.2 0.08 2,474
CCIL T Bill Liquidity Weight 0.4 1.2 4.9 3.8
Debt: Dynamic Bond
968 360 ONE Dynamic Bond 0.5 2.9 11.0 6.9 3 2 6 11 95 - - 7 0.7 0.7 Avg 0.27 775  4.1
969 ABSL Active Debt Multi Manager FoF -0.1 2.1 8.5 6.1 15 23 26 20 97 2 0 - 0.0 -0.1 Low 0.33 10  2.9
970 ABSL Dynamic Bond 0.0 2.6 10.3 7.7 10 5 12 2 97 - 3 15 1.5 0.8 Avg 0.64 1,700  4.2
Debt: Dynamic Bond 0.0 2.4 10.2 6.6 26 26 26 25 97 8 2 16 0.4 0.3 0.50 1,338
VR Bond Index 0.3 2.1 9.3 6.2
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31, 2024. $ Expense as of September 30, 2024.

Mutual Fund Insight December 2024 81

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 SCOREBOARD Debt Funds
Performance Portfolio Composition
Returns (%) Rank Credit Quality (%) Avg. Maturity Info. Risk Expense Assets Fund Average
S.No. Fund Name 1M 3M 1Y 3Y 1M 3M 1Y 3Y High Medium Low (years) Alpha Ratio Grade Ratio (%) (` cr) Rating Rating
Debt: Dynamic Bond
971 Axis All Seasons Debt FoF -0.2 2.3 10.1 6.5 22 16 16 13 98 2 1 - 0.3 0.3 Avg 0.23 141  3.8
972 Axis Dynamic Bond -0.1 2.4 9.4 6.1 16 12 19 21 100 - - 22 -0.2 -0.1 Avg 0.25 1,689  2.3
973 Bandhan Dynamic Bond -0.5 2.6 13.1 6.7 26 6 1 12 100 - - 29 0.3 0.3 High 0.71 2,917  1.9
974 Baroda BNP Paribas Dynamic Bond $ -0.1 2.2 10.2 7.0 17 21 15 7 100 - - 16 0.8 0.9 Avg 0.71 159  2.7
975 Canara Robeco Dynamic Bond -0.3 2.1 10.3 6.3 24 24 14 16 100 - - 21 0.1 0.1 +Avg 0.66 112  2.5
976 DSP Strategic Bond -0.3 2.8 12.0 7.0 23 3 2 6 100 - - 26 0.8 0.5 +Avg 0.53 1,756  2.9
977 Groww Dynamic Bond 0.1 2.2 9.0 5.7 7 20 22 23 100 - - 19 -0.4 -0.6 -Avg 0.45 52  È 3.1
978 HDFC Dynamic Debt -0.1 2.5 10.4 6.5 12 9 10 14 98 - - 16 0.3 0.3 Avg 0.75 784  4.2
979 HSBC Dynamic Bond -0.1 2.4 10.3 6.1 18 13 11 19 100 - - 16 -0.1 -0.1 Avg 0.20 159  2.7
980 ICICI Pru All Seasons Bond 0.5 2.3 9.4 7.2 4 17 20 4 81 19 - - 1.0 1.2 -Avg 0.59 12,984  5.0
981 ICICI Pru Retirement Pure Debt 0.5 2.0 8.6 6.2 2 25 24 18 85 11 4 - 0.1 0.0 Low 1.19 118  Ç 3.3
982 ITI Dynamic Bond 0.0 2.3 9.9 6.9 9 14 18 9 100 - - 9 0.8 0.5 -Avg 0.14 44  4.3
983 JM Dynamic Bond -0.1 2.1 8.8 6.3 14 22 23 17 100 - - 10 0.2 0.1 -Avg 0.52 45  3.4
984 Kotak Dynamic Bond 0.0 3.1 11.8 7.0 11 1 3 8 94 - - 24 0.7 0.6 +Avg 0.58 2,783  3.5
985 Kotak Income Plus Arbitarge FOF -0.3 2.5 9.3 - 25 7 21 - 99 - - - - - -Avg 0.10 21  5.0
986 Mahindra Manulife Dynamic Bond -0.1 2.3 10.6 6.0 13 15 7 22 91 8 - 18 -0.2 -0.2 +Avg 0.39 60  2.2
987 Mirae Asset Dynamic Bond 0.6 2.0 8.5 5.6 1 26 25 24 100 - - 2 -0.5 -0.4 -Avg 0.17 138  2.4
988 Nippon India Dynamic Bond 0.4 2.4 10.3 6.4 5 11 13 15 100 - - 6 0.1 0.1 +Avg 0.32 4,372  1.7
989 PGIM India Dynamic Bond 0.0 2.7 11.2 6.9 8 4 4 10 100 - - 19 0.7 0.6 -Avg 0.35 108  3.7
990 Quantum Dynamic Bond -0.2 2.2 11.0 7.0 20 19 5 5 100 - - 20 0.8 0.7 +Avg 0.51 109  3.2
991 SBI Dynamic Bond -0.2 2.5 10.5 7.4 19 8 8 3 100 - - 20 1.1 0.9 Avg 0.62 3,251  3.8
992 Union Dynamic Bond -0.2 2.2 10.0 5.2 21 18 17 25 100 - - 15 -1.0 -0.9 High 1.24 82  1.1
993 UTI Dynamic Bond 0.2 2.4 10.4 8.7 6 10 9 1 100 - - 12 2.8 0.5 Avg 0.66 424  2.9
Debt: Dynamic Bond 0.0 2.4 10.2 6.6 26 26 26 25 97 8 2 16 0.4 0.3 0.50 1,338
VR Bond Index 0.3 2.1 9.3 6.2
Debt: Corporate Bond
994 ABSL Corporate Bond 0.5 2.3 9.1 6.6 10 6 3 4 100 - - 6 0.5 0.4 +Avg 0.34 22,494  4.3
995 Axis Corporate Bond 0.5 2.2 9.0 6.7 14 15 6 3 100 - - 5 0.5 0.5 Avg 0.32 6,098  4.2
996 Bandhan Corporate Bond 0.5 2.2 8.0 5.8 7 16 21 16 100 - - 4 -0.3 -0.3 -Avg 0.33 13,903  2.5
997 Baroda BNP Paribas Corporate Bond $ 0.5 2.4 9.2 5.8 12 1 2 17 100 - - 5 -0.3 -0.5 High 0.20 175  1.8
998 Canara Robeco Corporate Bond 0.5 2.3 8.5 6.0 16 9 16 13 100 - - 6 -0.1 -0.2 -Avg 0.39 136  2.7
999 DSP Corporate Bond 0.6 2.1 8.3 5.5 3 19 19 19 100 - - 2 -0.6 -0.6 +Avg 0.28 2,514  2.3
1000 Franklin India Corporate Debt 0.7 2.2 8.3 6.1 1 17 20 10 94 5 - 3 0.1 0.0 Low 0.23 785  3.4
1001 HDFC Corporate Bond 0.6 2.4 9.0 6.4 4 2 5 5 100 - - 6 0.3 0.3 Avg 0.36 31,301  3.2
1002 HSBC Corporate Bond 0.5 2.2 8.9 5.8 6 11 8 15 100 - - 4 -0.4 -0.3 High 0.30 6,562  1.3
1003 ICICI Pru Corporate Bond 0.7 2.1 8.4 6.7 2 20 18 2 100 - - - 0.6 0.5 Low 0.35 26,854  4.6
1004 Invesco India Corporate Bond 0.4 2.2 8.8 6.1 20 10 9 11 100 - - 5 0.0 -0.1 +Avg 0.28 4,746  3.0
1005 Kotak Corporate Bond 0.5 2.3 8.9 6.4 9 7 7 6 100 - - 5 0.3 0.2 Avg 0.34 13,846  3.3
1006 Mirae Asset Corporate Bond 0.5 2.0 8.5 5.9 15 21 14 14 100 - - 5 -0.2 -0.3 +Avg 0.21 43  2.5
1007 Nippon India Corporate Bond 0.5 2.4 9.2 6.9 8 3 1 1 100 - - 5 0.7 0.7 Avg 0.35 4,618  4.9
1008 PGIM India Corporate Bond 0.5 2.3 8.5 6.3 13 5 13 7 100 - - 6 0.2 0.1 -Avg 0.28 97  4.0
1009 SBI Corporate Bond 0.5 2.2 8.5 6.2 11 14 15 9 100 - - 5 0.1 0.0 Avg 0.35 20,177  2.8
1010 Sundaram Corporate Bond 0.4 2.3 8.6 6.0 21 8 11 12 100 - - 6 0.0 -0.2 Avg 0.32 728  3.4
1011 Tata Corporate Bond 0.5 2.3 9.1 - 5 4 4 - 100 - - 6 - - -Avg 0.32 2,241  3.5
1012 TRUSTMF Corporate Bond 0.5 2.2 8.4 - 18 12 17 - 100 - - 5 - - +Avg 0.25 74  2.0
1013 Union Corporate Bond 0.4 2.2 8.7 5.7 19 13 10 18 100 - - 5 -0.4 -0.5 +Avg 0.38 280  1.8
1014 UTI Corporate Bond 0.5 2.1 8.5 6.2 17 18 12 8 100 - - 5 0.1 0.0 Avg 0.29 4,519  2.9
Debt: Corporate Bond 0.5 2.2 8.7 6.2 21 21 21 19 99 5 5 0.1 0.0 0.31 7,723
VR Bond Index 0.3 2.1 9.3 6.2
Debt: Credit Risk
1015 ABSL Credit Risk 3.2 5.5 13.2 9.5 1 1 1 3 32 53 6 3 7.1 2.4 Avg 0.67 917  Ç 3.5
1016 Axis Credit Risk 0.7 2.4 9.0 7.1 6 6 7 9 35 49 14 3 4.8 4.7 -Avg 0.80 430  3.5
1017 Bandhan Credit Risk 0.5 2.1 8.6 6.2 12 9 12 13 36 64 - 4 4.4 3.1 +Avg 0.69 323  2.4
1018 Bank of India Credit Risk 0.6 1.4 6.5 39.7 9 14 14 1 44 55 - 0 -1.9 0.6 Avg 1.18 115  1.7
1019 Baroda BNP Paribas Credit Risk $ 0.7 2.6 9.3 7.4 5 5 4 6 46 53 - 4 4.8 5.1 Low 0.79 167  4.7
1020 DSP Credit Risk 0.6 2.1 8.7 11.4 11 8 11 2 32 67 - 4 8.1 1.3 Avg 0.40 191  3.9
1021 HDFC Credit Risk Debt 0.7 2.6 9.3 6.8 7 4 3 10 42 51 2 3 5.2 3.2 +Avg 0.99 7,526  3.2
1022 HSBC Credit Risk 0.5 2.0 8.1 6.3 13 12 13 12 45 55 - 3 4.1 3.4 -Avg 0.86 578  2.6
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31, 2024. $ Expense as of September 30, 2024.

82 Mutual Fund Insight December 2024

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 Performance Portfolio Composition
Returns (%) Rank Credit Quality (%) Avg. Maturity Info. Risk Expense Assets Fund Average
S.No. Fund Name 1M 3M 1Y 3Y 1M 3M 1Y 3Y High Medium Low (years) Alpha Ratio Grade Ratio (%) (` cr) Rating Rating
Debt: Credit Risk
1023 ICICI Pru Credit Risk 0.9 2.7 10.0 7.6 2 2 2 5 33 46 11 - 5.2 4.4 +Avg 0.76 6,468  3.5
1024 Invesco India Credit Risk 0.4 2.1 8.7 8.0 14 10 10 4 47 - - 5 9.1 1.6 Avg 0.28 142  2.7
1025 Kotak Credit Risk 0.7 1.6 9.1 5.8 3 13 5 14 28 53 9 3 5.6 1.0 High 0.79 767  1.7
1026 Nippon India Credit Risk 0.7 2.3 9.1 7.4 4 7 6 7 46 38 16 3 5.4 4.5 -Avg 0.70 1,020  3.4
1027 SBI Credit Risk 0.7 2.1 8.8 7.3 8 11 8 8 24 63 10 3 5.3 3.0 Avg 0.89 2,345  3.5
1028 UTI Credit Risk 0.6 2.7 8.8 6.7 10 3 9 11 35 58 - 3 4.5 3.9 Avg 0.94 330  2.6
Debt: Credit Risk 0.8 2.4 9.1 9.8 14 14 14 14 38 54 10 3 5.1 3.0 0.77 1,523
Debt: Banking and PSU
1029 ABSL Banking & PSU Debt 0.5 2.2 8.6 6.3 7 9 8 5 100 - - 5 4.3 3.7 Avg 0.39 9,342  3.9
1030 Axis Banking & PSU Debt 0.6 2.0 8.0 6.1 4 17 20 12 100 - - 4 3.6 3.6 -Avg 0.35 13,160  Ç 3.9
1031 Bajaj FinServ Banking and PSU 0.5 2.3 - - 19 4 - - 100 - - 4 - - - 0.34 94 NR -
1032 Bandhan Banking & PSU Debt 0.5 2.0 8.1 6.1 13 18 19 11 100 - - 3 4.1 3.6 -Avg 0.33 13,435  4.5
1033 Baroda BNP Paribas Banking & PSU Bond 0.5 2.2 8.6 5.7 9 8 7 17 99 - - 5 5.6 1.5 +Avg 0.39 27  2.0
1034 Canara Robeco Banking and PSU Debt 0.5 2.1 8.3 - 8 15 15 - 100 - - 4 - - Avg 0.34 238  2.7
1035 DSP Banking & PSU Debt 0.3 2.6 9.4 6.3 22 1 1 6 100 - - 11 5.3 2.5 +Avg 0.32 2,710  3.0
1036 Edelweiss Banking & PSU Debt 0.5 2.3 9.1 6.0 10 2 2 13 100 - - 5 7.2 1.1 High 0.39 270  1.6
1037 Franklin India Banking & PSU Debt 0.6 2.1 8.2 6.1 3 16 17 10 94 5 - 4 4.6 2.7 -Avg 0.18 583  2.9
1038 HDFC Banking and PSU Debt 0.5 2.2 8.6 6.3 5 10 9 7 98 - - 5 4.5 3.4 Avg 0.39 5,748  4.2
1039 HSBC Banking and PSU Debt 0.7 1.9 7.9 5.3 2 22 21 20 100 - - 2 5.8 1.0 +Avg 0.23 4,204  1.8
1040 ICICI Pru Banking & PSU Debt 0.7 1.9 8.2 6.6 1 21 16 2 100 - - - 3.8 3.9 -Avg 0.39 8,930  4.8
1041 Invesco India Banking and PSU 0.5 2.3 9.0 5.4 18 3 3 19 100 - - 5 6.6 1.0 High 0.25 101  1.0
1042 ITI Banking and PSU 0.5 2.0 8.3 6.4 17 20 13 3 100 - - 3 3.3 4.6 Low 0.15 31  5.0
1043 Kotak Banking & PSU Debt 0.5 2.2 8.8 6.4 15 6 4 4 100 - - 6 4.8 3.0 +Avg 0.39 5,714  3.6
1044 LIC MF Banking & PSU 0.5 2.2 8.7 6.1 11 5 5 9 100 - - 4 4.5 3.1 Avg 0.28 1,591  2.8
1045 Mirae Asset Banking and PSU 0.5 2.1 8.5 5.9 14 14 10 16 100 - - 5 4.6 2.3 Avg 0.37 56  È 2.7
1046 Nippon India Banking & PSU Debt 0.4 2.1 8.6 6.2 21 12 6 8 100 - - 5 5.0 2.7 Avg 0.38 5,347  3.7
1047 SBI Banking and PSU 0.5 2.2 8.4 6.0 20 11 12 14 92 7 - 8 4.9 2.5 Avg 0.34 3,780  2.2
1048 Sundaram Banking & PSU 0.5 2.2 8.5 5.9 16 7 11 15 100 - - 5 4.9 2.2 Avg 0.27 331  2.3
1049 TRUSTMF Banking & PSU 0.5 2.1 8.1 5.7 6 13 18 18 100 - - 3 5.0 1.7 -Avg 0.21 197  2.7
1050 UTI Banking & PSU 0.5 2.0 8.3 8.3 12 19 14 1 100 - - 3 -1.4 1.3 +Avg 0.37 824  1.0
Debt: Banking and PSU 0.5 2.1 8.5 6.2 22 22 21 20 99 6 5 4.5 2.6 0.32 3,487
Debt: Floater
1051 ABSL Floating Rate 0.8 2.0 8.2 6.7 3 10 10 5 100 - - 2 3.4 7.3 -Avg 0.23 12,681  5.0
1052 Axis Floater -0.2 2.6 10.6 7.1 12 1 1 1 99 - - 22 6.1 2.2 High 0.20 233  1.5
1053 Bandhan Floating Rate 0.5 2.2 8.4 6.4 10 6 9 11 73 26 - 4 4.1 4.9 Avg 0.31 324  2.9
1054 DSP Floater 0.4 2.4 9.8 6.5 11 2 2 8 100 - - 8 5.3 3.0 High 0.24 814  Ç 1.5
1055 Franklin India Floating Rate 0.6 2.0 9.0 7.0 8 9 3 3 95 5 - 7 4.3 5.2 Avg 0.23 307  4.0
1056 HDFC Floating Rate Debt 0.8 2.1 8.6 6.8 5 8 7 4 92 7 - 4 3.8 4.5 Avg 0.26 14,839  4.0
1057 ICICI Pru Floating Interest 0.8 2.1 8.8 7.0 1 7 4 2 86 13 - - 4.2 2.6 +Avg 0.56 8,822  2.5
1058 Kotak Floating Rate 0.8 2.2 8.7 6.5 2 5 5 10 97 3 - 5 4.5 3.4 +Avg 0.25 3,690  2.1
1059 Nippon India Floating Rate 0.7 2.3 8.6 6.5 6 3 6 9 100 - - 4 4.3 4.6 Avg 0.31 7,803  2.8
1060 SBI Floating Rate Debt 0.5 2.0 8.5 6.6 9 11 8 6 100 - - 5 4.0 4.7 Avg 0.26 1,153  3.0
1061 Tata Floating Rate 0.8 2.3 8.2 6.6 4 4 11 7 100 - - 3 2.9 6.1 -Avg 0.33 184  3.5
1062 UTI Floater 0.7 1.9 7.6 6.1 7 12 12 12 100 - - 2 2.9 5.7 Low 0.39 1,341  3.3
Debt: Floater 0.6 2.2 8.8 6.7 12 12 12 12 95 11 6 4.2 4.5 0.30 4,349
CCIL T Bill Liquidity Weight 0.4 1.2 4.9 3.8
Debt: Gilt
1063 ABSL Government Securities -0.2 2.4 11.5 6.6 12 11 6 12 100 - - 19 -0.1 -0.3 +Avg 0.49 2,182  3.5
1064 Axis Gilt -0.1 2.7 11.8 6.7 7 4 5 9 100 - - 24 0.2 -0.2 Avg 0.35 613  3.7
1065 Bandhan GSF Investment -0.5 2.6 13.5 6.9 23 5 1 5 100 - - 29 0.0 -0.1 High 0.52 3,079  2.4
1066 Baroda BNP Paribas Gilt 0.0 2.5 10.7 6.3 6 10 15 15 100 - - 11 -0.4 -0.5 Avg 0.14 1,576  2.3
1067 Canara Robeco Gilt -0.2 2.5 11.1 6.4 14 9 10 14 100 - - 22 -0.2 -0.4 Avg 0.54 121  2.9
1068 DSP Gilt -0.3 2.8 12.4 7.1 18 1 3 2 100 - - 27 0.4 0.0 +Avg 0.57 1,418  4.1
1069 Edelweiss Government Securities -0.2 2.3 12.1 6.7 9 16 4 10 100 - - 17 0.0 -0.3 High 0.47 171  3.7
1070 Franklin India Government Securities 0.2 2.2 8.3 5.4 4 20 23 21 100 - - 6 -1.0 -0.7 Low 0.60 150  1.5
1071 HDFC Gilt -0.1 2.3 10.3 6.1 8 15 19 19 100 - - 14 -0.5 -0.6 Avg 0.46 2,667  2.3
1072 HSBC Gilt -0.3 2.3 11.1 6.3 19 18 9 16 100 - - 21 -0.3 -0.4 Avg 0.48 218  2.5
1073 ICICI Pru Gilt 0.3 2.1 9.0 6.9 3 22 21 4 100 - - - 0.4 -0.1 Low 0.56 6,633  4.4
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31, 2024. $ Expense as of September 30, 2024.

Mutual Fund Insight December 2024 83

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 SCOREBOARD Debt Funds
Performance Portfolio Composition
Returns (%) Rank Credit Quality (%) Avg. Maturity Info. Risk Expense Assets Fund Average
S.No. Fund Name 1M 3M 1Y 3Y 1M 3M 1Y 3Y High Medium Low (years) Alpha Ratio Grade Ratio (%) (` cr) Rating Rating
Debt: Gilt
1074 Invesco India Gilt -0.4 2.5 12.5 7.1 22 6 2 3 100 - - 27 0.5 0.0 +Avg 0.46 1,196  1.7
1075 Kotak Gilt Investment -0.4 2.8 11.0 6.8 20 2 11 6 100 - - 32 0.2 -0.1 Avg - 3,979  3.8
1076 LIC MF Gilt - - - - - - - - 100 - - 20 - - - - 89 NR -
1077 Motilal Oswal 5 Year G-Sec FoF 0.3 2.2 8.9 5.4 1 21 22 20 100 - - - -1.0 -0.7 +Avg 0.13 26  1.1
1078 Nippon India Gilt Securities -0.2 2.5 11.2 6.6 11 8 8 13 100 - - 20 -0.1 -0.3 +Avg 0.50 1,986  3.0
1079 PGIM India Gilt -0.2 2.5 11.3 6.7 10 7 7 11 100 - - 20 0.1 -0.2 -Avg 0.50 117  3.5
1080 Quant Gilt 0.3 2.2 9.2 - 2 19 20 - 100 - - 6 - - Low 0.51 105  5.0
1081 SBI Magnum Gilt -0.3 2.3 10.6 7.4 17 17 16 1 100 - - 23 0.8 0.1 -Avg 0.46 10,422  4.8
1082 Tata GSF 0.2 2.4 11.0 6.8 5 14 12 8 100 - - 7 0.2 -0.2 +Avg 0.27 816  2.6
1083 Union Gilt -0.3 2.4 10.8 - 16 13 14 - 100 - - 17 - - +Avg 0.70 166  1.4
1084 UTI Gilt -0.2 2.1 10.3 6.1 13 23 18 18 100 - - 15 -0.4 -0.4 -Avg 0.65 659  3.0
Debt: Gilt -0.1 2.4 10.9 6.5 23 23 23 21 100 19 -0.1 -0.3 0.49 1,745
Debt: Gilt with 10 year Constant Duration
1085 Bandhan GSF Constant Maturity Plan -0.1 2.3 11.2 5.8 2 1 1 3 100 - - 9 -1.0 -1.0 - 0.30 343 NR -
1086 DSP 10Y G-Sec -0.2 2.1 10.2 5.4 5 5 5 4 100 - - 9 -1.4 -1.1 - 0.31 55 NR -
1087 ICICI Pru Constant Maturity Gilt -0.1 2.3 10.4 5.9 1 4 4 2 100 - - - -1.0 -1.0 - 0.23 2,404 NR -
1088 SBI Magnum Constant Maturity -0.1 2.3 10.7 6.0 4 3 2 1 100 - - 10 -0.8 -0.8 - 0.31 1,703 NR -
1089 UTI Gilt Fund with 10Y Constant Duration -0.1 2.3 10.6 - 3 2 3 - 100 - - 10 - - - 0.22 167 NR -
Debt: Gilt with 10 year Constant Duration -0.1 2.3 10.6 5.8 5 5 5 4 100 10 -1.1 -1.0 0.27 934
Commodities: Gold
1090 ABSL Gold 4.9 13.5 28.4 17.0 13 10 9 9 - - - - -0.3 -0.5 +Avg 0.20 393  2.3
1091 Axis Gold 4.9 13.5 28.4 17.3 11 11 10 3 - - - - 0.0 -0.4 Low 0.17 603  4.4
1092 DSP Gold ETF FoF 5.5 14.3 - - 3 2 - - - - - - - - - 0.63 38 NR -
1093 Edelweiss Gold and Silver ETF FoF 6.0 14.8 29.9 - 1 1 1 - - - - - - - High 0.27 136  1.0
1094 HDFC Gold 5.1 13.2 28.3 17.2 8 14 12 4 - - - - -0.4 -0.5 -Avg 0.18 2,496  4.0
1095 ICICI Pru Regular Gold Savings (FOF) 5.1 13.8 28.6 17.1 7 7 7 7 - - - - -0.5 -0.6 Avg 0.09 1,157  3.0
1096 Invesco India Gold ETF FoF 4.9 13.4 28.7 17.2 12 13 3 6 - - - - -0.5 -0.4 +Avg 0.10 84  2.6
1097 Kotak Gold 5.1 14.0 28.1 16.8 6 6 13 10 - - - - -0.6 -0.6 Avg 0.16 2,123  È 3.2
1098 LIC MF Gold ETF FoF 4.5 12.9 28.7 17.8 15 15 4 1 - - - - 0.5 -0.2 Avg 0.25 64  3.2
1099 Mirae Asset Gold ETF FoF - - - - - - - - - - - - - - - 0.09 - NR -
1100 Motilal Oswal Gold and Silver ETFs FoF 5.7 14.2 29.5 - 2 3 2 - - - - - - - +Avg 0.16 115  2.0
1101 Nippon India Gold Savings 5.3 14.0 28.4 17.1 4 5 11 8 - - - - -0.5 -0.6 +Avg 0.14 2,038  2.2
1102 Quantum Gold Savings 5.3 14.1 28.6 17.2 5 4 6 5 - - - - -0.5 -0.6 Avg 0.06 130  2.6
1103 SBI Gold 5.0 13.8 28.5 17.3 9 8 8 2 - - - - -0.4 -0.5 -Avg 0.10 2,245  3.5
1104 Tata Gold ETF FoF 5.0 13.7 - - 10 9 - - - - - - - - - 0.19 95 NR -
1105 UTI Gold ETF FoF 4.8 13.5 28.7 - 14 12 5 - - - - - - - -Avg 0.23 125  4.7
Commodities: Gold 5.1 13.8 28.7 17.2 15 15 13 10 -0.3 -0.5 0.19 790
Domestic Price of Gold Index 5.5 14.7 29.6 18.2
Commodities: Silver
1106 ABSL Silver ETF FoF 7.1 15.2 32.4 - 3 6 5 - - - - - - - - 0.30 165 NR -
1107 Axis Silver FoF 6.7 15.1 32.7 - 8 7 4 - - - - - - - - 0.16 56 NR -
1108 HDFC Silver ETF FoF 7.4 15.5 33.0 - 1 4 3 - - - - - - - - 0.27 139 NR -
1109 ICICI Pru Silver ETF FoF 7.0 15.6 33.0 - 6 2 2 - - - - - - - - 0.12 819 NR -
1110 Kotak Silver ETF FoF 7.0 15.5 31.9 - 5 3 7 - - - - - - - - 0.14 37 NR -
1111 Nippon India Silver ETF FoF 7.0 15.1 32.3 - 4 8 6 - - - - - - - - 0.26 418 NR -
1112 SBI Silver ETF FoF 6.5 16.1 - - 9 1 - - - - - - - - - 0.23 288 NR -
1113 Tata Silver ETF FoF 6.9 15.3 - - 7 5 - - - - - - - - - 0.14 58 NR -
1114 UTI Silver ETF FoF 7.2 14.0 33.3 - 2 9 1 - - - - - - - - 0.13 33 NR -
Commodities: Silver 7.0 15.3 32.7 9 9 7 0 0.19 224
Domestic Price of Silver 7.8 16.6 34.1
Debt: Target Maturity
1115 Axis Nifty AAA + SDL Apr 26 5050 ETF FoF 0.8 2.0 8.0 5.3 2 6 5 4 100 - - - 5.7 0.9 - 0.08 277 NR -
1116 BHARAT Bond ETF FOF-April 2032 0.6 3.2 10.3 - 4 1 3 - 100 - - 7 - - - 0.06 4,524 NR -
1117 BHARAT Bond ETF FOF-April 2033 0.6 3.2 10.9 - 5 2 1 - 100 - - 8 - - - 0.06 2,237 NR -
1118 BHARAT Bond FOF-April 2025 1.0 2.0 7.8 5.4 1 4 6 3 100 - - 0 5.2 1.0 - 0.06 4,560 NR -
1119 BHARAT Bond FOF-April 2030 0.6 2.0 9.8 6.4 3 5 4 2 100 - - 5 8.2 1.1 - 0.06 6,830 NR -
1120 BHARAT Bond FOF-April 2031 0.5 2.9 10.3 6.5 6 3 2 1 100 - - 6 8.7 1.0 - 0.06 4,611 NR -
Debt: Target Maturity 0.7 2.5 9.5 5.9 6 6 6 4 100 6 7.0 1.0 0.06 3,840
Data pertains to direct plans. ETFs and index funds are excluded and covered in their own scoreboards. Portfolio and AUM data as of September 30, 2024; all other data as of October 31, 2024.

84 Mutual Fund Insight December 2024

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 SCOREBOARD Index
360 ONE Balanced Hybrid 602 Axis Innovation 345 Baroda BNP Paribas Balanced Advantage 695 DSP Value 217
360 ONE Dynamic Bond 968 Axis Liquid 876 Baroda BNP Paribas Banking & Fin Srvcs 273 DSP World Gold FoF 474
360 ONE FlexiCap 71 Axis Long Duration 768 Baroda BNP Paribas Banking & PSU Bond 1033 DSP World Mining FoF 475
360 ONE Focused Equity 72 Axis Midcap 156 Baroda BNP Paribas Business Cycle 351 Edelweiss Aggressive Hybrid 571
360 ONE Liquid 874 Axis Money Market 911 Baroda BNP Paribas Conservative Hybrid 615 BHARAT Bond ETF FOF-April 2032 1116
360 ONE Quant 337 Axis Multi Asset Allocation 733 Baroda BNP Paribas Corporate Bond 997 BHARAT Bond ETF FOF-April 2033 1117
Aditya Birla SL Active Debt Multi Manager FoF 969 Axis Multicap 521 Baroda BNP Paribas Credit Risk 1019 BHARAT Bond FOF-April 2025 1118
ABSL Arbitrage 661 Axis NASDAQ 100 FoF 467 Baroda BNP Paribas Dividend Yield 420 BHARAT Bond FOF-April 2030 1119
ABSL Asset Allocator FoF 727 Axis Nifty AAA + SDL Apr 26 5050 ETF FoF 1115 Baroda BNP Paribas Dynamic Bond 974 BHARAT Bond FOF-April 2031 1120
ABSL Bal Bhavishya Yojna 73 Axis Overnight 934 Baroda BNP Paribas ELSS Tax Saver 239 Edelweiss Arbitrage 668
ABSL Balanced Advantage 689 Axis Quant 346 Baroda BNP Paribas Equity Svngs 642 Edelweiss ASEAN Equity Off Shore 476
ABSL Banking & Financial Services 271 Axis Retirement -Aggressive Plan 562 Baroda BNP Paribas Flexi Cap 84 Edelweiss Balanced Advantage 698
ABSL Banking & PSU Debt 1029 Axis Retirement-Conservative 611 Baroda BNP Paribas Focused 85 Edelweiss Banking & PSU Debt 1036
ABSL Business Cycle 338 Axis Retirement-Dynamic Plan 691 Baroda BNP Paribas Gilt 1066 Edelweiss Business Cycle 356
ABSL Corporate Bond 994 Axis Short Duration 806 Baroda BNP Paribas India Consumption 446 Edelweiss ELSS Tax Saver 242
ABSL Credit Risk 1015 Axis Silver FoF 1107 Baroda BNP Paribas Innovation 352 Edelweiss Emerging Market Opp Eqt Offshr 477
ABSL Digital India 325 Axis Small Cap 185 Baroda BNP Paribas Large & Mid Cap 46 Edelweiss Equity Savings 644
ABSL Dividend Yield 419 Axis Strategic Bond 791 Baroda BNP Paribas Large Cap 6 Edelweiss Europe Dynamic Equity Offshr 478
ABSL Dynamic Bond 970 Axis Treasury Advantage 830 Baroda BNP Paribas Liquid 880 Edelweiss Flexi Cap 90
ABSL ELSS Tax Saver 235 Axis Ultra Short Duration 850 Baroda BNP Paribas Low Duration 832 Edelweiss Focused 91
ABSL Equity Advantage 41 Axis Value 213 Baroda BNP Paribas Manufacturing 353 Edelweiss Gold and Silver ETF FoF 1093
ABSL Equity Hybrid '95 558 Bajaj FinServ Arbitrage 663 Baroda BNP Paribas Midcap 158 Edelweiss Government Securities 1069
ABSL Equity Savings 639 Bajaj FinServ Balanced Advantage 692 Baroda BNP Paribas Money Market 914 Edelweiss Greater China Equity Off-shore 479
ABSL ESG Integration Strategy 548 Bajaj FinServ Banking and PSU 1031 Baroda BNP Paribas Multi Asset 737 Edelweiss Large & Mid Cap 49
ABSL Financial Planning FOF Aggressive 728 Bajaj FinServ Flexi Cap 80 Baroda BNP Paribas Multi Cap 524 Edelweiss Large Cap 9
ABSL Financial Planning FOF Conservative 729 Bajaj FinServ Large and Mid Cap 43 Baroda BNP Paribas Overnight 938 Edelweiss Liquid 883
ABSL Financial Planning FOF Moderate 730 Bajaj Finserv Liquid 877 Baroda BNP Paribas Retirement 568 Edelweiss Mid Cap 161
ABSL Flexi Cap 74 Bajaj FinServ Money Market 912 Baroda BNP Paribas Short Duration 810 Edelweiss Money Market 916
ABSL Floating Rate 1051 Bajaj Finserv Multi Asset Allocation 734 Baroda BNP Paribas Small Cap 188 Edelweiss Multi Asset Allocation 739
ABSL Focused 75 Bajaj Finserv Overnight 935 Baroda BNP Paribas Ultra Short Duration 853 Edelweiss Multi Cap 527
ABSL Frontline Equity 1 Bajaj FinSrv Large Cap 3 Baroda BNP Paribas Value 215 Edelweiss Overnight 941
ABSL Global Emerging Opportunities 460 Bandhan All Seasons Bond 807 Canara Robeco Balanced Advtg 696 Edelweiss Recently Listed IPO 357
ABSL Global Excellence Equity FoF 461 Bandhan Arbitrage 664 Canara Robeco Banking and PSU Debt 1034 Edelweiss Small Cap 191
ABSL Gold 1090 Bandhan Asset Allocation Aggressive 563 Canara Robeco Bluechip Equity 7 Edelweiss Technology 326
ABSL Government Securities 1063 Bandhan Asset Allocation Conservative 612 Canara Robeco Conservative Hybrid 616 Edelweiss US Technology Equity FoF 480
ABSL Income 776 Bandhan Asset Allocation Moderate 603 Canara Robeco Consumer Trends 447 Edelweiss US Value Equity Offshr 481
ABSL India GenNext 444 Bandhan Balanced Advantage 693 Canara Robeco Corporate Bond 998 Franklin Asian Equity 482
ABSL Infrastructure 292 Bandhan Banking & PSU Debt 1032 Canara Robeco Dynamic Bond 975 Franklin Build India 297
ABSL International Equity 462 Bandhan Bond Fund Medium Term Plan 792 Canara Robeco ELSS Tax Saver 240 Franklin India Balanced Advantage 699
ABSL Liquid 875 Bandhan Bond Income 777 Canara Robeco Emerging Equities 47 Franklin India Banking & PSU Debt 1037
ABSL Long Duration 767 Bandhan Bond Short Term 808 Canara Robeco Equity Hybrid 569 Franklin India Bluechip 10
ABSL Low Duration 829 Bandhan Business Cycle 347 Canara Robeco Flexi Cap 86 Franklin India Corporate Debt 1000
ABSL Manufacturing Equity 339 Bandhan Conservative Hybrid 613 Canara Robeco Focused Equity 87 Franklin India Debt Hybrid 618
ABSL Medium Term 790 Bandhan Core Equity 44 Canara Robeco Gilt 1067 Franklin India Dynamic Asset Allocat FoF 700
ABSL Mid Cap 155 Bandhan Corporate Bond 996 Canara Robeco Income 778 Franklin India ELSS Tax Saver 243
ABSL MNC 429 Bandhan Credit Risk 1017 Canara Robeco Infrastructure 295 Franklin India Equity Advantage 50
ABSL Money Manager 910 Bandhan Dynamic Bond 973 Canara Robeco Liquid 881 Franklin India Equity Hybrid 572
ABSL Multi Asset Allocation 731 Bandhan ELSS Tax Saver 237 Canara Robeco Manufacturing 354 Franklin India Equity Savings 645
ABSL Multi-Cap 520 Bandhan Equity Savings 641 Canara Robeco Mid Cap 159 Franklin India Feeder Franklin US Opp 483
ABSL Multi-Index FoF 732 Bandhan Financial Services 272 Canara Robeco Multi Cap 525 Franklin India Feeder Templtn Europn Opp 484
ABSL NASDAQ 100 FOF 463 Bandhan Flexi Cap 81 Canara Robeco Overnight 939 Franklin India Flexi Cap 92
ABSL Overnight 933 Bandhan Floating Rate 1053 Canara Robeco Savings 833 Franklin India Floating Rate 1055
ABSL Pharma & Healthcare 311 Bandhan Focused Equity 82 Canara Robeco Short Duration 811 Franklin India Focused Equity 93
ABSL PSU Equity 439 Bandhan GSF Constant Maturity Plan 1085 Canara Robeco Small Cap 189 Franklin India Government Securities 1070
ABSL Pure Value 212 Bandhan GSF Investment 1065 Canara Robeco Ultra Short Term 854 Franklin India Liquid 884
ABSL Quant 340 Bandhan Hybrid Equity 564 Canara Robeco Value 216 Franklin India Medium to Long Duration 779
ABSL Regular Savings 608 Bandhan Infrastructure 293 DSP 10Y G-Sec 1086 Franklin India Money Market 917
ABSL Retirement 30s 76 Bandhan Innovation 348 DSP Arbitrage 667 Franklin India Multi Asset Solution FoF 740
ABSL Retirement 40s 559 Bandhan Large Cap 4 DSP Banking & Financial Services 274 Franklin India Multi Cap 528
ABSL Retirement 50s 609 Bandhan Liquid 878 DSP Banking & PSU Debt 1035 Franklin India Opportunities 358
ABSL Retirement 50s + Debt 804 Bandhan Long Duration 769 DSP Bond 793 Franklin India Overnight 942
ABSL Savings 849 Bandhan Low Duration 831 DSP Corporate Bond 999 Franklin India Pension 604
ABSL Short Term 805 Bandhan Midcap 157 DSP Credit Risk 1020 Franklin India Prima 162
ABSL Silver ETF FoF 1106 Bandhan Money Manager 913 DSP Dynamic Asset Allocation 697 Franklin India Smaller Companies 192
ABSL Small Cap 184 Bandhan Multi Asset Allocation 735 DSP ELSS Tax Saver 241 Franklin India Technology 327
ABSL Special Opportunities 341 Bandhan Multi Cap 522 DSP Equity & Bond 570 Franklin India Ultra Short Duration 856
ABSL Transportation and Logistics 342 Bandhan Overnight 936 DSP Equity Opportunities 48 Templeton India Equity Income 427
Axis Aggressive Hybrid 560 Bandhan Retirement 565 DSP Equity Savings 643 Templeton India Value 232
Axis All Seasons Debt FoF 971 Bandhan Small Cap 186 DSP Flexi Cap 88 Groww Aggressive Hybrid 573
Axis Arbitrage 662 Bandhan Sterling Value 214 DSP Floater 1054 Groww Banking & Financial Services 275
Axis Balanced Advantage 690 Bandhan Transportation and Logistics 349 DSP Focus 89 Groww Dynamic Bond 977
Axis Banking & PSU Debt 1030 Bandhan Ultra Short Term 851 DSP Gilt 1068 Groww ELSS Tax Saver 244
Axis Bluechip 2 Bandhan US Equity FoF 468 DSP Global Allocation FoF 470 Groww Large Cap 11
Axis Business Cycles 343 Bank of India Arbitrage 665 DSP Global Clean Energy Fund of Fund 471 Groww Liquid 885
Axis Children's 561 Bank of India Balanced Advantage 694 DSP Global Innovation FoF 472 Groww Nifty EV & New Age Automot ETF FoF 359
Axis Conservative Hybrid 610 Bank of India Bluechip 5 DSP Gold ETF FoF 1092 Groww Nifty India Defence ETF FoF 360
Axis Consumption 445 Bank of India Business Cycle 350 DSP Healthcare 312 Groww Overnight 943
Axis Corporate Bond 995 Bank of India Conservative Hybrid 614 DSP India T.I.G.E.R. 296 Groww Short Term 813
Axis Credit Risk 1016 Bank of India Credit Risk 1018 DSP Liquidity 882 Groww Value 218
Axis Dynamic Bond 972 Bank of India ELSS Tax Saver 238 DSP Low Duration 834 HDFC Arbitrage 669
Axis ELSS Tax Saver 236 Bank of India Flexi Cap 83 DSP Midcap 160 HDFC Asset Allocator FoF 741
Axis Equity ETFs FoF 77 Bank of India Large & Mid Cap Equity 45 DSP Multi Asset Allocation 738 HDFC Balanced Advantage 701
Axis Equity Savings 640 Bank of India Liquid 879 DSP Multicap 526 HDFC Banking & Financial Services 276
Axis ESG Integration Strategy 549 Bank of India Manufacturing & Infra 294 DSP Natural Resources and New Energy 435 HDFC Banking and PSU Debt 1038
Axis Flexi Cap 78 Bank of India Mid & Small Cap Eqt & Debt 566 DSP Overnight 940 HDFC Business Cycle 361
Axis Floater 1052 Bank of India Multi Asset Allocation 736 DSP Quant 355 HDFC Capital Builder Value 219
Axis Focused 79 Bank of India Multi Cap 523 DSP Regular Savings 617 HDFC Children's Gift 574
Axis Gilt 1064 Bank of India Overnight 937 DSP Savings 915 HDFC Corporate Bond 1001
Axis Global Equity Alpha FoF 464 Bank of India Short Term Income 809 DSP Short-Term 812 HDFC Credit Risk Debt 1021
Axis Global Innovation FoF 465 Bank of India Small Cap 187 DSP Small Cap 190 HDFC Defence 362
Axis Gold 1091 Bank of India Ultra Short Duration 852 DSP Strategic Bond 976 HDFC Developed World Indexes FoF 485
Axis Greater China Equity FoF 466 Baroda BNP Paribas Aggressive Hybrid 567 DSP Top 100 Equity 8 HDFC Dividend Yield 421
Axis Growth Opportunities 42 Baroda BNP Paribas Aqua FoF 469 DSP Ultra Short 855 HDFC Dynamic Debt 978
Axis India Manufacturing 344 Baroda BNP Paribas Arbitrage 666 DSP US Flexible Equity Fund of Fund 473 HDFC Dynamic PE Ratio FoF 702

Mutual Fund Insight December 2024 85

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 SCOREBOARD Index
HDFC ELSS Tax Saver 245 ICICI Pru Credit Risk 1023 ITI Arbitrage 673 LIC MF Focused 116
HDFC Equity Savings 646 ICICI Pru Debt Management (FOF) 783 ITI Balanced Advantage 707 LIC MF Gilt 1076
HDFC Flexi Cap 94 ICICI Pru Dividend Yield Equity 422 ITI Banking and Financial Services 280 LIC MF Gold ETF FoF 1098
HDFC Floating Rate Debt 1056 ICICI Pru ELSS Tax Saver 247 ITI Banking and PSU 1042 LIC MF Healthcare 317
HDFC Focused 30 95 ICICI Pru Energy Opportunities 436 ITI Dynamic Bond 982 LIC MF Infrastructure 303
HDFC Gilt 1071 ICICI Pru Equity & Debt 580 ITI ELSS Tax Saver 249 LIC MF Large & Mid Cap 57
HDFC Gold 1094 ICICI Pru Equity Arbitrage 671 ITI Flexi Cap 108 LIC MF Large Cap 22
HDFC Housing Opportunities 363 ICICI Pru Equity Savings 648 ITI Focused Equity 109 LIC MF Liquid 893
HDFC Hybrid Debt 619 ICICI Pru ESG Exclusionary Strategy 550 ITI Large & Mid Cap 55 LIC MF Low Duration 841
HDFC Hybrid Equity 575 ICICI Pru Exports & Services 370 ITI Large Cap 19 LIC MF Manufacturing 385
HDFC Income 780 ICICI Pru Flexicap 101 ITI Liquid 890 LIC MF Medium to Long Duration 786
HDFC Infrastructure 298 ICICI Pru Floating Interest 1057 ITI Mid Cap 167 LIC MF Midcap 170
HDFC Large and Mid Cap 51 ICICI Pru FMCG 371 ITI Multi Cap 533 LIC MF Money Market 923
HDFC Liquid 886 ICICI Pru Focused Equity 102 ITI Overnight 949 LIC MF Multi Cap 535
HDFC Long Duration Debt 770 ICICI Pru Gilt 1073 ITI Pharma and Healthcare 315 LIC MF Overnight 952
HDFC Low Duration 835 ICICI Pru Global Advantage (FOF) 490 ITI Small Cap 197 LIC MF Short Duration 820
HDFC Manufacturing 364 ICICI Pru Global Stable Equity (FOF) 491 ITI Ultra Short Duration 861 LIC MF Small Cap 200
HDFC Medium Term Debt 794 ICICI Pru Housing Opportunities 372 ITI Value 223 LIC MF ULIS 586
HDFC Mid-Cap Opportunities 163 ICICI Pru Income Optimizer (FOF) 623 JM Aggressive Hybrid 583 LIC MF Ultra Short Duration 863
HDFC MNC 430 ICICI Pru India Equity FOF 103 JM Arbitrage 674 LIC MF Value 226
HDFC Money Market 918 ICICI Pru India Opportunities 373 JM Dynamic Bond 983 Mahindra Manulife Aggressive Hybrid 587
HDFC Multi Asset 742 ICICI Pru Infrastructure 300 JM ELSS Tax Saver 250 Mahindra Manulife Arbitrage 677
HDFC Multi Cap 529 ICICI Pru Innovation 374 JM Flexicap 110 Mahindra Manulife Asia Pacific REITs FoF 502
HDFC Non-Cyclical Consumer 448 ICICI Pru Large & Mid Cap 53 JM Focused 111 Mahindra Manulife Balanced Advantage 710
HDFC Overnight 944 ICICI Pru Liquid 888 JM Large Cap 20 Mahindra Manulife Business Cycle 386
HDFC Pharma And Healthcare 313 ICICI Pru Long Term Bond 771 JM Liquid 891 Mahindra Manulife Consumption 452
HDFC Retirement Savings Equity 96 ICICI Pru Manufacturing 375 JM Low Duration 839 Mahindra Manulife Dynamic Bond 986
HDFC Retirement Savings Hybrid Debt 620 ICICI Pru Medium Term Bond 796 JM Medium to Long Duration 784 Mahindra Manulife ELSS Tax Saver 253
HDFC Retirement Savings Hybrid Equity 576 ICICI Pru Midcap 165 JM Midcap 168 Mahindra Manulife Equity Savings 652
HDFC Short Term Debt 814 ICICI Pru MNC 431 JM Overnight 950 Mahindra Manulife Flexi Cap 117
HDFC Silver ETF FoF 1108 ICICI Pru Money Market 920 JM Short Duration 818 Mahindra Manulife Focused 118
HDFC Small Cap 193 ICICI Pru Multi Asset 746 JM Small Cap 198 Mahindra Manulife Large & Mid Cap 58
HDFC Technology 328 ICICI Pru Multicap 531 JM Value 224 Mahindra Manulife Large Cap 23
HDFC Top 100 12 ICICI Pru Nifty 100 Low Vol 30 ETF FOF 16 Kotak Balanced Advantage 708 Mahindra Manulife Liquid 894
HDFC Transportation and Logistics 365 ICICI Pru Nifty Alpha Low-Vol 30 ETF FOF 17 Kotak Banking & Financial Services 281 Mahindra Manulife Low Duration 842
HDFC Ultra Short Term 857 ICICI Pru Overnight 947 Kotak Banking & PSU Debt 1043 Mahindra Manulife Manufacturing 387
Helios Balanced Advantage 703 ICICI Pru Passive Multi-Asset FoF 747 Kotak Bluechip 21 Mahindra Manulife Mid Cap 171
Helios Financial Services 277 ICICI Pru Passive Strategy (FOF) 104 Kotak Bond 785 Mahindra Manulife Multi Asset Allocation 750
Helios Flexi Cap 97 ICICI Pru Pharma Healthcare and Diagnost 314 Kotak Bond Short-term 819 Mahindra Manulife Multi Cap 536
Helios Overnight 945 ICICI Pru PSU Equity 440 Kotak Business Cycle 380 Mahindra Manulife Overnight 953
HSBC Aggressive Hybrid 577 ICICI Pru Quant 376 Kotak Consumption 451 Mahindra Manulife Short Duration 821
HSBC Arbitrage 670 ICICI Pru Regular Gold Savings (FOF) 1095 Kotak Corporate Bond 1005 Mahindra Manulife Small Cap 201
HSBC Asia Pacific (ExJapan) Dividend Yld 486 ICICI Pru Regular Savings 624 Kotak Credit Risk 1025 Mahindra Manulife Ultra Short Duration 864
HSBC Balanced Advantage 704 ICICI Pru Retirement Hybrid Aggressive 581 Kotak Debt Hybrid 626 Mirae Asset Aggressive Hybrid 588
HSBC Banking and PSU Debt 1039 ICICI Pru Retirement Hybrid Conservative 625 Kotak Dynamic Bond 984 Mirae Asset Arbitrage 678
HSBC Brazil 487 ICICI Pru Retirement Pure Debt 981 Kotak ELSS Tax Saver 251 Mirae Asset Balanced Advantage 711
HSBC Business Cycles 366 ICICI Pru Retirement Pure Equity 105 Kotak Emerging Equity 169 Mirae Asset Banking and Fin Srvcs 283
HSBC Conservative Hybrid 621 ICICI Pru Savings 837 Kotak Equity Arbitrage 675 Mirae Asset Banking and PSU 1045
HSBC Consumption 449 ICICI Pru Short Term 816 Kotak Equity Hybrid 584 Mirae Asset Corporate Bond 1006
HSBC Corporate Bond 1002 ICICI Pru Silver ETF FoF 1109 Kotak Equity Opportunities 56 Mirae Asset Dynamic Bond 987
HSBC Credit Risk 1022 ICICI Pru Smallcap 195 Kotak Equity Savings 650 Mirae Asset ELSS Tax Saver 254
HSBC Dynamic Bond 979 ICICI Pru Strategic Mtal & Enrgy Eqt FoF 492 Kotak ESG Exclusionary Strategy 552 Mirae Asset Equity Allocator FoF 24
HSBC ELSS Tax Saver 246 ICICI Pru Technology 329 Kotak Flexicap 112 Mirae Asset Equity Savings 653
HSBC Equity Savings 647 ICICI Pru Thematic Advantage (FOF) 377 Kotak Floating Rate 1058 Mirae Asset Flexi Cap 119
HSBC Flexi Cap 98 ICICI Pru Transportation and Logistics 378 Kotak Focused Equity 113 Mirae Asset Focused 120
HSBC Focused 99 ICICI Pru Ultra Short Term 859 Kotak Gilt Investment 1075 Mirae Asset Glob Elec & Aut Veh ETFs FoF 503
HSBC Gilt 1072 ICICI Pru US Bluechip Equity 493 Kotak Global Emerging Market 498 Mirae Asset Gold ETF FoF 1099
HSBC Global Emerging Markets 488 ICICI Pru Value Discovery 221 Kotak Global Innovation FoF 499 Mirae Asset Great Consumer 453
HSBC Global Equity Climate Change FoF 489 Invesco Ind-Invesco Pan European Eqt FoF 496 Kotak Gold 1097 Mirae Asset Hang Seng TECH ETF FoF 504
HSBC India Export Opportunities 367 Invesco Ind-Invsco EQQQ NSDQ-100 ETF FoF 497 Kotak Healthcare 316 Mirae Asset Healthcare 318
HSBC Infrastructure 299 Invesco India Aggressive Hybrid 582 Kotak Income Plus Arbitarge FOF 985 Mirae Asset Large & Midcap 59
HSBC Large and Mid Cap 52 Invesco India Arbitrage 672 Kotak India EQ Contra 225 Mirae Asset Large Cap 25
HSBC Large Cap 13 Invesco India Balanced Advantage 706 Kotak Infrastructure and Economic Reform 302 Mirae Asset Liquid 895
HSBC Liquid 887 Invesco India Banking and PSU 1041 Kotak International REIT FOF 500 Mirae Asset Low Duration 843
HSBC Low Duration 836 Invesco India Contra 222 Kotak Liquid 892 Mirae Asset Midcap 172
HSBC Managed Solutions India Cons 622 Invesco India Corporate Bond 1004 Kotak Long Duration 772 Mirae Asset Money Market 924
HSBC Managed Solutions India Growth 578 Invesco India Credit Risk 1024 Kotak Low Duration 840 Mirae Asset Multi Asset Allocation 751
HSBC Managed Solutions India Moderate 743 Invesco India ELSS Tax Saver 248 Kotak Manufacture in India 381 Mirae Asset Multicap 537
HSBC Medium Duration 795 Invesco India Equity Savings 649 Kotak Medium Term 798 Mirae Asset Nfty MidSC400 MomQlty 100ETF 388
HSBC Medium to Long Duration 781 Invesco India ESG Integration Strategy 551 Kotak MNC 432 Mirae Asset Nfty SC250 M Qlty100 ETF FoF 389
HSBC Midcap 164 Invesco India Financial Services 279 Kotak Money Market 922 Mirae Asset Nifty 200 Alpha 30 ETF FoF 26
HSBC Money Market 919 Invesco India Flexi Cap 106 Kotak Multi Asset Allocation 748 Mirae Asset Nifty Ind Manftng ETF FoF 390
HSBC Multi Asset Allocation 744 Invesco India Focused 107 Kotak Multi Asset Allocator FoF-Dynamic 749 Mirae Asset Nifty100 ESG Sec Leaders FoF 553
HSBC Multi Cap 530 Invesco India Gilt 1074 Kotak Multicap 534 Mirae Asset NYSE FANG+ ETF FoF 505
HSBC Overnight 946 Invesco India Global Consumer Trends 494 Kotak Nasdaq 100 FOF 501 Mirae Asset Overnight 954
HSBC Short Duration 815 Invesco India Global Equity Income FoF 495 Kotak Overnight 951 Mirae Asset S&P 500 Top 50 ETF FoF 506
HSBC Small Cap 194 Invesco India Gold ETF FoF 1096 Kotak Pioneer 382 Mirae Asset Short Duration 822
HSBC Ultra Short Duration 858 Invesco India Infrastructure 301 Kotak Quant 383 Mirae Asset Ultra Short Duration 865
HSBC Value 220 Invesco India Large & Mid Cap 54 Kotak Savings 862 Mirae Asset X Arti Int & Tech ETF FoF 507
ICICI Prudential All Seasons Bond 980 Invesco India Largecap 18 Kotak Silver ETF FoF 1110 Motilal Oswal 5 Year G-Sec FoF 1077
ICICI Pru Asset Allocator (FOF) 745 Invesco India Liquid 889 Kotak Small Cap 199 Motilal Oswal Asset Alloc Passive Agrssv 752
ICICI Pru Balanced Advantage 705 Invesco India Low Duration 838 Kotak Special Opportunities 384 Motilal Oswal Asset Alloc Passive Cons 753
ICICI Pru Banking & Financial Services 278 Invesco India Manufacturing 379 Kotak Technology 331 Motilal Oswal Balance Advantage 712
ICICI Pru Banking & PSU Debt 1040 Invesco India Medium Duration 797 LIC MF Aggressive Hybrid 585 Motilal Oswal Business Cycle 391
ICICI Pru Bharat 22 FOF 14 Invesco India Mid Cap 166 LIC MF Arbitrage 676 Motilal Oswal Developed Mkt Ex US ETFs 508
ICICI Pru Bharat Consumption 450 Invesco India Money Market 921 LIC MF Balanced Advantage 709 Motilal Oswal ELSS Tax Saver 255
ICICI Pru Bluechip 15 Invesco India Multicap 532 LIC MF Banking & Financial Services 282 Motilal Oswal Flexi Cap 121
ICICI Pru Bond 782 Invesco India Overnight 948 LIC MF Banking & PSU 1044 Motilal Oswal Focused 122
ICICI Pru BSE 500 ETF FOF 100 Invesco India PSU Equity 441 LIC MF Children's 114 Motilal Oswal Gold and Silver ETFs FoF 1100
ICICI Pru Business Cycle 368 Invesco India Short Duration Term 817 LIC MF Conservative Hybrid 627 Motilal Oswal Large and Midcap 60
ICICI Pru Child Care Gift 579 Invesco India Smallcap 196 LIC MF Dividend Yield 423 Motilal Oswal Large Cap 27
ICICI Pru Commodities 369 Invesco India Technology 330 LIC MF ELSS Tax Saver 252 Motilal Oswal Liquid 896
ICICI Pru Constant Maturity Gilt 1087 Invesco India Ultra Short Duration 860 LIC MF Equity Savings 651 Motilal Oswal Manufacturing 392
ICICI Pru Corporate Bond 1003 LIC MF Flexi Cap 115 Motilal Oswal Midcap 173

86 Mutual Fund Insight December 2024

Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
Motilal Oswal Multi Asset 754 Quant Absolute 592 SBI Short Term Debt 824 TRUSTMF Short Duration 827
Motilal Oswal Multi Cap 538 Quant Active 542 SBI Silver ETF FoF 1112 Union Aggressive Hybrid 600
Motilal Oswal Nasdaq 100 FOF 509 Quant BFSI 285 SBI Small Cap 207 Union Arbitrage 686
Motilal Oswal Quant 393 Quant Business Cycle 396 SBI Technology Opportunities 333 Union Balanced Advantage 723
Motilal Oswal Small Cap 202 Quant Commodities 397 Shriram Aggressive Hybrid 596 Union Business Cycle 414
Motilal Oswal Ultra Short Term 866 Quant Consumption 455 Shriram Balanced Advantage 720 Union Children's 147
Navi Aggressive Hybrid 589 Quant Dynamic Asset Allocation 717 Shriram ELSS Tax Saver 264 Union Corporate Bond 1013
Navi Conservative Hybrid 628 Quant ELSS Tax Saver Fund 260 Shriram Flexi Cap 138 Union Dynamic Bond 992
Navi Flexi Cap 123 Quant ESG Equity 554 Shriram Multi Asset Allocation 761 Union ELSS Tax Saver 268
Navi Large & Midcap 61 Quant Flexi Cap 132 Shriram Overnight 962 Union Equity Savings 659
Navi Liquid 897 Quant Focused 31 Sundaram Aggressive Hybrid 597 Union Flexi Cap 148
Navi NASDAQ 100 FoF 510 Quant Gilt 1080 Sundaram Arbitrage 684 Union Focused 149
Navi Overnight 955 Quant Healthcare 320 Sundaram Balanced Advantage 721 Union Gilt 1083
Navi US Total Stock Market FoF 511 Quant Infrastructure 305 Sundaram Banking & PSU 1048 Union Innovation & Opportunities 415
Nippon India Arbitrage 679 Quant Large & Mid Cap 64 Sundaram Business Cycle 407 Union Large & Midcap 68
Nippon Ind Nifty Next 50 Junior BeES FoF 28 Quant Large Cap 32 Sundaram Conservative Hybrid 636 Union Largecap 38
Nippon India Asset Allocator FoF 755 Quant Liquid 901 Sundaram Consumption 457 Union Liquid 907
Nippon India Balanced Advantage 713 Quant Manufacturing 398 Sundaram Corporate Bond 1010 Union Medium Duration 802
Nippon India Banking & Financial Srvices 284 Quant Mid Cap 176 Sundaram Dividend Yield 425 Union Midcap 181
Nippon India Banking & PSU Debt 1046 Quant Momentum 399 Sundaram ELSS Tax Saver 265 Union Money Market 931
Nippon India Consumption 454 Quant Multi Asset 757 Sundaram Equity Savings 657 Union Multi Asset Allocation 764
Nippon India Corporate Bond 1007 Quant Overnight 959 Sundaram Financial Services Opp 287 Union Multicap 546
Nippon India Credit Risk 1026 Quant PSU 442 Sundaram Flexi Cap 139 Union Overnight 966
Nippon India Dynamic Bond 988 Quant Quantamental 400 Sundaram Focused 140 Union Retirement 150
Nippon India ELSS Tax Saver 256 Quant Small Cap 205 Sundaram Global Brand 519 Union Small Cap 210
Nippon India Equity Hybrid 590 Quant Teck 332 Sundaram Infrastructure Advantage 307 Union Value 233
Nippon India Equity Savings 654 Quant Value 228 Sundaram Large & Midcap 66 UTI Aggressive Hybrid 601
Nippon India Flexi Cap 124 Quantum Dynamic Bond 990 Sundaram Large Cap 35 UTI Arbitrage 687
Nippon India Floating Rate 1059 Quantum ELSS Tax Saver 261 Sundaram Liquid 904 UTI Balanced Advantage 724
Nippon India Focused Equity 125 Quantum Equity FoF 133 Sundaram Low Duration 846 UTI Banking & PSU 1050
Nippon India Gilt Securities 1078 Quantum ESG Best In Class Strategy 555 Sundaram Medium Duration 801 UTI Banking and Financial Services 290
Nippon India Gold Savings 1101 Quantum Gold Savings 1102 Sundaram Midcap 178 UTI Children's Equity 151
Nippon India Growth 174 Quantum Liquid 902 Sundaram Money Market 928 UTI Children's Hybrid 605
Nippon India Hybrid Bond 629 Quantum Long Term Equity Value 229 Sundaram Multi Asset Allocation 762 UTI Conservative Hybrid 638
Nippon India Income 787 Quantum Multi Asset Allocation 758 Sundaram Multi Cap 544 UTI Corporate Bond 1014
Nippon India Innovation 394 Quantum Multi Asset FOFs 759 Sundaram Overnight 963 UTI Credit Risk 1028
Nippon India Japan Equity 512 Quantum Nifty 50 ETF FoF 33 Sundaram Services 408 UTI Dividend Yield 428
Nippon India Large Cap 29 Quantum Small Cap 206 Sundaram Short Duration 825 UTI Dynamic Bond 993
Nippon India Liquid 898 Samco Active Momentum 401 Sundaram Small Cap 208 UTI ELSS Tax Saver 269
Nippon India Low Duration 844 Samco Dynamic Asset Allocation 718 Sundaram Ultra Short Duration 870 UTI Equity Savings 660
Nippon India Money Market 925 Samco ELSS Tax Saver 262 Tata Arbitrage 685 UTI Flexi Cap 152
Nippon India Multi Asset Allocation 756 Samco Flexi Cap 134 Tata Balanced Advantage 722 UTI Floater 1062
Nippon India Multi Cap 539 Samco Overnight 960 Tata Banking & Financial Services 288 UTI Focused 153
Nippon India Nivesh Lakshya 773 Samco Special Opportunities 402 Tata Business Cycle 409 UTI Gilt 1084
Nippon India Overnight 956 SBI Arbitrage Opportunities 683 Tata Corporate Bond 1011 UTI Gilt Fund with 10Y Constant Duration 1089
Nippon India Passive Flexicap FoF 126 SBI Automotive Opportunities 403 Tata Digital India 334 UTI Gold ETF FoF 1105
Nippon India Pharma 319 SBI Balanced Advantage 719 Tata Dividend Yield 426 UTI Healthcare 323
Nippon India Power & Infra 304 SBI Banking & Financial Services 286 Tata ELSS Tax Saver 266 UTI India Consumer 459
Nippon India Quant 395 SBI Banking and PSU 1047 Tata Equity PE 231 UTI Infrastructure 310
Nippon India Retirement Incm Generation 630 SBI Bluechip 34 Tata Equity Savings 658 UTI Innovation 416
Nippon India Retirement Wealth Creation 127 SBI Conservative Hybrid 632 Tata Ethical 410 UTI Large & Mid Cap 69
Nippon India Short Term 823 SBI Consumption Opportunities 456 Tata Flexi Cap 141 UTI Large Cap 39
Nippon India Silver ETF FoF 1111 SBI Contra 230 Tata Floating Rate 1061 UTI Liquid 908
Nippon India Small Cap 203 SBI Corporate Bond 1009 Tata Focused Equity 142 UTI Long Duration 775
Nippon India Strategic Debt 799 SBI Credit Risk 1027 Tata Gold ETF FoF 1104 UTI Low Duration 848
Nippon India Taiwan Equity 513 SBI Dividend Yield 424 Tata GSF 1082 UTI Medium Duration 803
Nippon India Ultra Short Duration 867 SBI Dynamic Bond 991 Tata Housing Opportunities 411 UTI Medium to Long Duration 789
Nippon India US Equity Opportunities 514 SBI Energy Opportunities 437 Tata Hybrid Equity 598 UTI Mid Cap 182
Nippon India Value 227 SBI Equity Hybrid 593 Tata India Consumer 458 UTI MNC 434
Nippon India Vision 62 SBI Equity Minimum Variance 404 Tata India Pharma & Healthcare 322 UTI Money Market 932
NJ Arbitrage 680 SBI Equity Savings 656 Tata Infrastructure 308 UTI Multi Asset Allocation 765
NJ Balanced Advantage 714 SBI ESG Exclusionary Strategy 556 Tata Large & Midcap 67 UTI Overnight 967
NJ ELSS Tax Saver Scheme 257 SBI Flexicap 135 Tata Large Cap 36 UTI Retirement 606
NJ Flexi Cap 128 SBI Floating Rate Debt 1060 Tata Liquid 905 UTI Short Duration 828
NJ Overnight 957 SBI Focused Equity 136 Tata Midcap Growth 179 UTI Silver ETF FoF 1114
Old Bridge Focused Equity 129 SBI Gold 1103 Tata Money Market 929 UTI Small Cap 211
PGIM India Arbitrage 682 SBI Healthcare Opportunities 321 Tata Multi Asset Opportunities 763 UTI Transportation & Logistics 417
PGIM Ind Glbl Selct Real Estate Sec FoF 515 SBI Infrastructure 306 Tata Multicap 545 UTI Ultra Short Duration 872
PGIM India Balanced Advantage 716 SBI Innovative Opportunities 405 Tata Nifty India Digital ETF FoF 335 UTI Unit Linked Insurance Plan 725
PGIM India Corporate Bond 1008 SBI International Access-US Equity FoF 518 Tata Overnight 964 UTI Value 234
PGIM India Dynamic Bond 989 SBI Large & Midcap 65 Tata Quant 412 WhiteOak Capital Arbitrage 688
PGIM India ELSS Tax Saver 259 SBI Liquid 903 Tata Resources & Energy 438 WhiteOak Capital Balanced Advantage 726
PGIM India Emerging Markets Equity 516 SBI Long Duration 774 Tata Retirement Savings Conservative 637 WhiteOak Capital Balanced Hybrid 607
PGIM India Equity Savings 655 SBI Long Term Equity 263 Tata Retirement Savings Moderate 599 WhiteOak Capital Banking & Fin Srvices 291
PGIM India Flexi Cap 131 SBI Magnum Children's Benefit Investment 594 Tata Retirement Savings Progressive 143 WhiteOak Capital Digital Bharat 336
PGIM India Gilt 1079 SBI Magnum Children's Benefit Savings 633 Tata Short Term Bond 826 WhiteOak Capital ELSS Tax Saver 270
PGIM India Global Equity Opportunities 517 SBI Magnum COMMA 406 Tata Silver ETF FoF 1113 WhiteOak Capital ESG Best-In-Class Strat 557
PGIM India Hybrid Equity 591 SBI Magnum Constant Maturity 1088 Tata Small Cap 209 WhiteOak Capital Flexi Cap 154
PGIM India Large and Mid Cap 63 SBI Magnum Gilt 1081 Tata Treasury Advantage 847 WhiteOak Capital Large & Mid Cap 70
PGIM India Large Cap 30 SBI Magnum Global 433 Tata Ultra Short Term 871 WhiteOak Capital Large Cap 40
PGIM India Liquid 900 SBI Magnum Income 788 Tata Young Citizens 144 WhiteOak Capital Liquid 909
PGIM India Midcap Opportunities 175 SBI Magnum Low Duration 845 Taurus Banking & Financial Services 289 WhiteOak Capital Mid Cap 183
PGIM India Money Market 926 SBI Magnum Medium Duration 800 Taurus ELSS Tax Saver 267 WhiteOak Capital Multi Asset Allocation 766
PGIM India Multi Cap 540 SBI Magnum Midcap 177 Taurus Ethical 413 WhiteOak Capital Multi Cap 547
PGIM India Overnight 958 SBI Magnum Ultra Short Duration 869 Taurus Flexi Cap 145 WhiteOak Capital Pharma and Helthcr 324
PGIM India Retirement 541 SBI Multi Asset Allocation 760 Taurus Infrastructure 309 WhiteOak Capital Special Opportunities 418
PGIM India Small Cap 204 SBI Multicap 543 Taurus Large Cap 37 WhiteOak Capital Ultra Short Duration 873
PGIM India Ultra Short Duration 868 SBI Overnight 961 Taurus Mid Cap 180
Parag Parikh Arbitrage 681 SBI PSU 443 TRUSTMF Banking & PSU 1049
Parag Parikh Conservative Hybrid 631 SBI Retirement Benefit Aggressive 137 TRUSTMF Corporate Bond 1012
Parag Parikh Dynamic Asset Allocation 715 SBI Retirement Benefit Aggressive Hybrid 595 TRUSTMF Flexi Cap 146
Parag Parikh ELSS Tax Saver 258 SBI Retirement Benefit Cons Hybrid 634 TRUSTMF Liquid 906
Parag Parikh Flexi Cap 130 SBI Retirement Benefit Conservative 635 TRUSTMF Money Market 930
Parag Parikh Liquid 899 SBI Savings 927 TRUSTMF Overnight 965

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 SCOREBOARD Index Funds
Tracking Portfolio Composition (%)
Launch Performance (%) Rank Error (%) Large Mid Small Cash & Risk Expense Assets
Fund name Date 1Y 3Y 1Y 3Y 1Y Cap Cap Cap Others Grade Ratio (%) (` cr) Fund Rating

EQUITY: LARGE CAP

ABSL Nifty 50 Equal Weight Index Jun '21 33.9 16.6 24 12 0.1 100 - - 0 -Avg 0.40 331 
ABSL Nifty 50 Index Jan '13 28.0 12.0 38 28 0.0 100 - - 0 +Avg 0.20 1,024 
ABSL Nifty Next 50 Index Feb '22 59.1 - 7 - 0.1 100 - - 0 - 0.33 159 NR
Axis BSE Sensex Index Feb '24 - - - - 0.1 100 - - 0 - 0.20 47 NR
Axis Nifty 100 Index Oct '19 32.6 12.9 29 14 0.1 100 - - 0 +Avg 0.21 1,751 
Axis Nifty 50 Index Dec '21 28.0 - 41 - 0.1 100 - - 0 - 0.12 558 NR
Axis Nifty Next 50 Index Jan '22 58.9 - 10 - 0.2 100 - - 0 - 0.25 294 NR
Bandhan Nifty 100 Index Feb '22 32.7 - 28 - 0.1 100 - - 0 - 0.09 156 NR
Bandhan Nifty 50 Index Jan '13 28.0 12.2 43 15 0.1 100 - - 0 Avg 0.10 1,629 
Bandhan Nifty Alpha 50 Index Nov '23 - - - - 0.8 62 38 - 1 - 0.34 270 NR
Bandhan Nifty100 Low Volatility 30 Index Oct '22 32.8 - 27 - 0.1 100 - - 0 - 0.35 1,242 NR
Bandhan Nifty200 Momentum 30 Index Sep '22 54.2 - 18 - 0.4 97 3 - 0 - 0.41 141 NR
Baroda BNP Paribas NIFTY 50 Index $ Jan '24 - - - - 0.2 100 - - 0 - 0.16 64 NR
Baroda BNP Paribas Nifty200 Momtm 30 Ind Oct '24 - - - - 0.3 - - - - - - - NR
DSP Nifty 50 Equal Weight Index Oct '17 33.9 16.8 23 10 0.1 100 - - 0 Avg 0.38 1,907 
DSP Nifty 50 Index Feb '19 28.0 12.1 34 21 0.1 100 - - 0 Avg 0.18 662 
DSP Nifty Next 50 Index Feb '19 59.2 19.0 3 3 0.1 100 - - 0 High 0.28 844 
DSP Nifty Top 10 Equal Wght Index Sep '24 - - - - 0.2 100 - - 0 - 0.25 680 NR
Edelweiss Nifty 50 Index Oct '21 27.8 11.9 49 30 0.1 100 - - 0 +Avg 0.05 104 
Edelweiss Nifty Alpha Low Volatility 30 May '24 - - - - 0.2 98 2 - 0 - 0.30 98 NR
Edelweiss Nifty Next 50 Index Nov '22 59.2 - 2 - 0.2 101 - - -1 - 0.09 78 NR
Franklin India NSE Nifty 50 Index Jan '13 28.0 12.0 44 27 0.1 100 - - 0 Avg 0.26 744 
HDFC Index Fund-BSE Sensex Plan Jan '13 25.5 11.3 53 33 0.0 100 - - 0 +Avg 0.20 7,946 
HDFC Index Nifty 50 Jan '13 28.0 12.0 42 24 0.0 100 - - 0 +Avg 0.20 18,915 
HDFC NIFTY 100 Equal Wght Index Feb '22 43.4 - 20 - 0.1 100 - - 0 - 0.40 332 NR
HDFC Nifty 100 Index Feb '22 32.4 - 30 - 0.1 100 - - 0 - 0.30 244 NR
HDFC NIFTY Next 50 Index Nov '21 58.9 - 12 - 0.1 100 - - 0 - 0.30 1,809 NR
HDFC NIFTY100 Low Volatility 30 Index Jul '24 - - - - 0.1 100 - - 0 - 0.40 355 NR
HDFC Nifty200 Momentum 30 Index Feb '24 - - - - 0.2 97 3 - 0 - 0.40 801 NR
HDFC NIFTY50 Equal Weight Index Aug '21 34.0 16.7 22 11 0.0 99 - - 1 -Avg 0.40 1,478 
HSBC Nifty 50 Index Apr '20 28.0 12.1 39 20 0.1 100 - - 0 Avg 0.20 302 
HSBC Nifty Next 50 Index Apr '20 58.9 18.6 9 9 0.1 100 - - 0 High 0.35 140 
ICICI Pru BSE Sensex Index Sep '17 25.5 11.3 51 34 0.1 100 - - 0 +Avg 0.19 1,757 
ICICI Pru Nifty 200 Momentum 30 Index Aug '22 54.7 - 17 - 0.4 96 3 - 0 - 0.40 474 NR
ICICI Pru Nifty 50 Index Jan '13 28.0 12.0 45 22 0.0 100 - - 0 +Avg 0.17 11,904 
ICICI Pru Nifty Next 50 Index Jan '13 59.2 18.9 5 8 0.1 100 - - 0 High 0.31 7,184 
ICICI Pru Nifty50 Equal Weight Index Oct '22 33.7 - 25 - 0.1 100 - - 0 - 0.40 92 NR
Kotak Nifty 100 Low Volatility 30 Index Jun '24 - - - - 0.2 100 - - 0 - 0.32 59 NR
Kotak Nifty 200 Momentum 30 Index Jun '23 54.8 - 16 - 0.8 97 3 - 0 - 0.40 361 NR
Kotak Nifty 50 Index Jun '21 27.9 12.0 48 26 0.1 100 - - 0 Avg 0.15 764 
Kotak Nifty Next 50 Index Mar '21 59.1 19.1 6 2 0.1 100 - - 0 +Avg 0.11 360 
LIC MF BSE Sensex Index Jan '13 25.3 11.2 58 36 0.1 100 - - 0 +Avg 0.38 88 
All data as of October 31, 2024. Portfolio-related data as of September 30, 2024. Risk Grade measures a fund’s downside volatility against a risk-free return. Based on underperformance, funds are rated: High (Top
10%), +Avg (Next 22.5%), Average (Middle 35%), -Avg (Next 22.5%), and Low (Bottom 10%). $ Expense as of September 30, 2024.

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 Tracking Portfolio Composition (%)
Launch Performance (%) Rank Error (%) Large Mid Small Cash & Risk Expense Assets
Fund name Date 1Y 3Y 1Y 3Y 1Y Cap Cap Cap Others Grade Ratio (%) (` cr) Fund Rating

LIC MF Nifty 50 Index Jan '13 27.9 12.0 46 29 0.1 100 - - 0 +Avg 0.18 340 
LIC MF Nifty Next 50 Index Jan '13 58.9 18.9 11 6 0.2 99 - - 1 High 0.32 101 
Mirae Asset Nifty 50 Index Oct '24 - - - - 0.1 - - - - - 0.10 - NR
Motilal Oswal BSE Low Volatility Mar '22 31.6 - 32 - - 81 19 - 0 - 0.43 103 NR
Motilal Oswal Nifty 200 Momentum 30 Feb '22 55.3 - 15 - 0.2 97 3 - 0 - 0.32 871 NR
Motilal Oswal Nifty 50 Index Dec '19 28.1 12.1 33 16 0.0 100 - - 0 Avg 0.15 596 
Motilal Oswal Nifty Next 50 Index Dec '19 59.1 18.9 8 4 0.1 101 - - -1 High 0.35 309 
Navi BSE Sensex Index Sep '23 25.4 - 56 - 0.1 100 - - 0 - 0.14 12 NR
Navi Nifty 50 Index Jul '21 28.0 12.1 37 17 0.0 100 - - 0 Avg 0.06 2,514 
Navi Nifty Next 50 Index Jan '22 58.7 - 13 - 0.3 101 - - -1 - 0.12 660 NR
Nippon India Index BSE Sensex Jan '13 25.5 11.3 55 31 0.0 100 - - 0 +Avg 0.20 757 
Nippon India Index Nifty 50 Jan '13 28.0 12.0 40 25 0.1 100 - - 0 Avg 0.07 2,030 
Nippon India Nifty Alpha Low Vol 30 Aug '22 45.8 - 19 - 0.3 98 2 - 0 - 0.35 1,044 NR
SBI BSE Sensex Index May '23 25.5 - 52 - 0.0 100 - - 0 - 0.19 229 NR
SBI Nifty Index Jan '13 28.0 12.1 35 18 0.0 100 - - 0 +Avg 0.20 8,729 
SBI Nifty Next 50 Index May '21 59.2 18.9 1 5 0.1 100 - - 0 High 0.33 1,415 
SBI Nifty50 Equal Weight Index Jan '24 - - - - 0.0 100 - - 0 - 0.52 1,137 NR
Sundaram Nifty 100 Equal Weight Jan '13 42.8 16.5 21 13 0.6 98 - - 2 +Avg 0.56 100 
Tata BSE Sensex Index Jan '13 25.4 11.2 57 35 0.1 100 - - 0 +Avg 0.26 382 
Tata Nifty 50 Index Jan '13 27.9 12.0 47 23 0.1 100 - - 0 Avg 0.19 942 
Tata Nifty200 Alpha 30 Index Sep '24 - - - - 0.3 97 3 - 0 - 0.34 179 NR
Taurus Nifty 50 Index Jan '13 26.8 11.3 50 32 0.2 99 - - 1 - 0.81 5 NR
UTI BSE Low Volatility Index Mar '22 31.8 - 31 - - 81 19 - 0 - 0.45 560 NR
UTI BSE Sensex Index Jan '22 25.5 - 54 - 0.0 100 - - 0 - 0.20 195 NR
UTI Nifty 50 Index Jan '13 28.0 12.1 36 19 0.0 100 - - 0 +Avg 0.19 20,432 
UTI Nifty Next 50 Index Jun '18 59.2 18.9 4 7 0.1 100 - - 0 High 0.36 4,974 
UTI Nifty200 Momentum 30 Index Mar '21 55.6 20.0 14 1 0.2 97 3 - 0 High 0.39 8,450 
UTI NIFTY50 Equal Wght Index Jun '23 33.5 - 26 - 0.1 100 - - 0 - 0.59 97 NR
EQUITY: LARGE & MID CAP
Edelweiss NIFTY Large Mid Cap 250 Index Dec '21 38.0 - 1 - 0.1 70 30 - 0 - 0.21 218 NR
HDFC Nifty LargeMidcap 250 Index Oct '24 - - - - 0.0 - - - - - 0.25 - NR
ICICI Pru Nifty LargeMidcap 250 Index Mar '24 - - - - 0.1 70 30 - 0 - 0.29 168 NR
Mirae Asset Nifty LargeMidcap 250 Index Oct '24 - - - - 0.0 - - - - - 0.22 - NR
Zerodha Nifty Large Midcap 250 Index Nov '23 - - - - - 70 30 - -1 - 0.27 627 NR
EQUITY: FLEXI CAP
Axis Nifty 500 Index Jul '24 - - - - 0.1 79 19 2 0 - 0.10 234 NR
Bandhan Nifty 500 Momentum 50 Index Oct '24 - - - - 0.0 - - - - - 0.35 - NR
Bandhan Nifty Total Mkt Index Jul '24 - - - - 0.1 76 19 5 0 - 0.40 35 NR
Groww Nifty Total Market Index Oct '23 35.7 - 1 - 0.2 77 19 5 0 - 0.30 241 NR
HDFC BSE 500 Index Apr '23 34.7 - 3 - 0.2 80 18 2 0 - 0.30 186 NR
Mirae Asset Nifty Total Mkt Index Oct '24 - - - - 0.0 - - - - - 0.22 - NR
Motilal Oswal Nifty 500 Index Sep '19 35.6 15.2 2 1 0.1 79 19 2 0 +Avg 0.20 2,103 
Motilal Oswal Nifty 500 Momentum 50 Indx Sep '24 - - - - 0.1 83 17 - 0 - 0.30 327 NR
All data as of October 31, 2024. Portfolio-related data as of September 30, 2024. Risk Grade measures a fund’s downside volatility against a risk-free return. Based on underperformance, funds are rated: High (Top
10%), +Avg (Next 22.5%), Average (Middle 35%), -Avg (Next 22.5%), and Low (Bottom 10%).

Mutual Fund Insight December 2024 89

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 SCOREBOARD Index Funds
Tracking Portfolio Composition (%)
Launch Performance (%) Rank Error (%) Large Mid Small Cash & Risk Expense Assets
Fund name Date 1Y 3Y 1Y 3Y 1Y Cap Cap Cap Others Grade Ratio (%) (` cr) Fund Rating

Nippon India Nifty 500 Momentum 50 Index Oct '24 - - - - 0.3 81 17 - 2 - 0.25 428 NR
SBI Nifty 500 Index Sep '24 - - - - 0.0 78 19 2 1 - 0.38 817 NR
EQUITY: MID CAP
ABSL Nifty Midcap 150 Index Apr '21 44.1 22.9 3 1 0.3 40 60 - 0 +Avg 0.44 293 
Axis Nifty Midcap 50 Index Mar '22 40.3 - 10 - 0.2 57 42 - 0 - 0.25 416 NR
Bandhan Nifty Midcap 150 Index Sep '24 - - - - 0.2 40 60 - 0 - 0.21 18 NR
Edelweiss Nifty Midcap150 Momentum 50 Nov '22 54.1 - 1 - 0.5 66 35 - 0 - 0.46 681 NR
HDFC NIFTY Midcap 150 Index Apr '23 43.3 - 9 - 0.1 40 60 - 0 - 0.30 241 NR
ICICI Pru Nifty Midcap 150 Index Dec '21 43.3 - 8 - 0.1 39 60 - 1 - 0.30 584 NR
Kotak Nifty Midcap 150 Momentum 50 Index Oct '24 - - - - 0.2 - - - - - 0.28 - NR
Kotak Nifty Midcap 50 Index Aug '24 - - - - 0.3 58 43 - 0 - 0.27 45 NR
Motilal Oswal Nifty Midcap 150 Sep '19 43.9 22.9 4 2 0.1 40 60 - 0 +Avg 0.30 1,949 
Navi Nifty Midcap 150 Index Mar '22 43.5 - 5 - 0.2 40 60 - 0 - 0.22 213 NR
Nippon India Nifty Midcap150 Feb '21 43.4 22.6 7 3 0.1 40 60 - 0 +Avg 0.30 1,638 
SBI Nifty Midcap 150 Index Oct '22 43.5 - 6 - 0.0 40 60 - 0 - 0.41 672 NR
Tata Nifty Midcap 150 Momentum 50 Index Oct '22 52.8 - 2 - 0.7 66 35 - 0 - 0.43 619 NR
EQUITY: SMALL CAP
ABSL Nifty Smallcap 50 Index Apr '21 54.0 19.5 1 3 0.4 - 96 3 0 High 0.46 268 
Axis Nifty Smallcap 50 Index Mar '22 53.4 - 3 - 0.4 - 96 3 0 - 0.28 441 NR
Bandhan Nifty Smallcap 250 Index Dec '23 - - - - 0.3 - 76 20 4 - 0.20 42 NR
Edelweiss Nifty Smallcap 250 Index Nov '22 48.0 - 5 - 0.2 - 80 20 0 - 0.14 87 NR
Groww Nifty Smallcap 250 Index Feb '24 - - - - 0.2 - 80 20 0 - 0.45 88 NR
HDFC NIFTY Smallcap 250 Index Apr '23 47.3 - 10 - 0.2 - 81 20 0 - 0.30 327 NR
ICICI Pru Nifty Smallcap 250 Index Nov '21 47.4 - 9 - 0.1 - 79 19 2 - 0.33 428 NR
Kotak Nifty Smallcap 50 Index Apr '23 53.6 - 2 - 0.4 - 97 3 -1 - 0.25 102 NR
Motilal Oswal Nifty Microcap 250 Index Jul '23 52.9 - 4 - 0.3 - 11 89 0 - 0.44 1,615 NR
Motilal Oswal Nifty Smallcap 250 Index Sep '19 47.6 23.8 6 1 0.1 - 80 20 0 High 0.36 829 
Nippon India Nifty Smallcap 250 Index Oct '20 47.4 23.6 8 2 0.3 - 80 20 0 High 0.35 1,874 
SBI Nifty Smallcap 250 Index Oct '22 47.4 - 7 - 0.1 - 80 20 0 - 0.41 1,161 NR
EQUITY: VALUE ORIENTED
Axis Nifty500 Value 50 Index Oct '24 - - - - 0.0 - - - - - 0.19 - NR
Bandhan Nifty 500 Value 50 Index Oct '24 - - - - 0.0 - - - - - 0.35 - NR
ICICI Pru Nifty200 Value 30 Index Oct '24 - - - - 0.3 - - - - - 0.35 - NR
ICICI Pru Nifty50 Value 20 Index Feb '24 - - - - 0.1 100 - - 0 - 0.30 79 NR
Motilal Oswal BSE Enhanced Value Aug '22 60.8 - 2 - 0.3 85 16 - 0 - 0.45 873 NR
Nippon India Nifty 50 Value 20 Index Feb '21 37.2 17.8 3 1 0.1 100 - - 0 High 0.25 881 
UTI Nifty 500 Value 50 Index May '23 63.2 - 1 - 0.5 72 25 3 0 - 0.56 499 NR
EQUITY: ELSS
360 ONE ELSS Tax Saver Nifty 50 Index Dec '22 27.9 - 2 - 0.1 99 - - 1 - 0.27 79 NR
Navi ELSS Tax Saver Nifty 50 Index Mar '23 27.9 - 1 - 0.1 100 - - 0 - 0.10 71 NR
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Nov '23 - - - - - 70 30 - 0 - 0.27 134 NR
EQUITY: SECTORAL-BANKING
Axis Nifty Bank Index May '24 - - - - 0.1 93 7 - 0 - 0.09 123 NR

All data as of October 31, 2024. Portfolio-related data as of September 30, 2024. Risk Grade measures a fund’s downside volatility against a risk-free return. Based on underperformance, funds are rated: High (Top
10%), +Avg (Next 22.5%), Average (Middle 35%), -Avg (Next 22.5%), and Low (Bottom 10%).

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 Tracking Portfolio Composition (%)
Launch Performance (%) Rank Error (%) Large Mid Small Cash & Risk Expense Assets
Fund name Date 1Y 3Y 1Y 3Y 1Y Cap Cap Cap Others Grade Ratio (%) (` cr) Fund Rating

Bandhan Nifty Bank Index Aug '24 - - - - 0.1 90 7 - 3 - 0.20 12 NR

DSP Nifty Bank Index May '24 - - - - 0.1 93 7 - 0 - 0.17 42 NR
ICICI Pru Nifty Bank Index Mar '22 20.9 - 4 - 0.1 93 7 - 0 - 0.20 492 NR
Kotak Nifty Finan Services Ex-Bank Index Aug '23 28.4 - 2 - 0.2 81 18 1 0 - 0.23 33 NR
Motilal Oswal BSE Fins ex Bank 30 Jul '22 28.6 - 1 - - 87 14 - 0 - 0.31 20 NR
Motilal Oswal Nifty Bank Index Sep '19 20.8 10.2 5 1 0.1 93 7 - 0 +Avg 0.33 621 
Navi Nifty Bank Index Feb '22 21.0 - 3 - 0.1 93 7 - 0 - 0.10 503 NR
Nippon India Nifty Bank Index Feb '24 - - - - 0.2 92 7 - 0 - 0.20 128 NR
Tata Nifty Financial Services Index Apr '24 - - - - 0.1 99 1 - 0 - 0.46 44 NR
UTI Nifty Private Bank Index Sep '24 - - - - 0.1 90 8 2 -1 - 0.43 139 NR
EQUITY: SECTORAL-INFRASTRUCTURE
Tata Nifty500 Multicap Infra 50:30:20 Apr '24 - - - - 0.4 68 31 1 0 - 0.46 85 NR
EQUITY: SECTORAL-PHARMA
Bandhan BSE Healthcare Index Sep '24 - - - - 0.1 62 29 9 0 - 0.22 17 NR
Edelweiss MSCI Ind Domstic & World HC 45 Oct '20 46.1 17.2 2 1 2.0 84 16 - 0 Avg 0.50 162 
ICICI Pru Nifty Pharma Index Dec '22 54.4 - 1 - 0.2 81 18 1 0 - 0.35 75 NR
Tata Nifty MidSmall Healthcare Index Apr '24 - - - - 0.2 40 57 2 0 - 0.48 114 NR
EQUITY: SECTORAL-TECHNOLOGY
Axis Nifty IT Index Jul '23 34.2 - 2 - 0.1 90 9 - 0 - 0.30 135 NR
Bandhan Nifty IT Index Aug '23 35.8 - 1 - 1.0 91 9 - 0 - 0.36 25 NR
ICICI Pru Nifty IT Index Aug '22 34.1 - 3 - 0.1 91 9 - 0 - 0.37 472 NR
Navi Nifty IT Index Mar '24 - - - - 0.1 90 9 - 0 - 0.22 13 NR
Nippon India Nifty IT Index Feb '24 - - - - 0.1 90 9 - 0 - 0.25 145 NR
EQUITY: THEMATIC
ABSL Nifty India Defence Index Aug '24 - - - - 0.1 64 21 16 0 - 0.31 328 NR
DSP Nifty Midcap 150 Quality 50 Index Aug '22 34.8 - 6 - 0.1 24 76 - 0 - 0.30 329 NR
DSP Nifty Smallcap250 Quality 50 Index Dec '23 - - - - 0.4 - 79 20 1 - 0.31 153 NR
Edelweiss Nifty 100 Quality 30 Index Oct '21 32.6 15.1 8 1 0.1 100 - - 0 - 0.30 94 NR
HDFC NIFTY Realty Index Mar '24 - - - - 0.2 63 33 4 0 - 0.40 119 NR
ICICI Pru Nifty Auto Index Oct '22 47.8 - 2 - 0.1 87 13 - 0 - 0.42 143 NR
Kotak BSE Housing Index Aug '23 36.2 - 5 - - 63 37 - 0 - 0.22 19 NR
Kotak Nifty India Tourism Index Sep '24 - - - - 0.1 66 26 8 0 - 0.33 21 NR
Motilal Oswal BSE Quality Index Aug '22 47.2 - 3 - 0.2 90 9 - 1 - 0.38 33 NR
Motilal Oswal Nifty India Defence Index Jul '24 - - - - 0.2 64 21 16 0 - 0.31 2,154 NR
Navi Nifty India Manufacturing Index Aug '22 50.7 - 1 - 0.2 82 19 - 0 - 0.22 51 NR
Tata Nifty Auto Index Apr '24 - - - - 0.3 87 13 - 0 - 0.46 83 NR
Tata Nifty Capital Markets Index Oct '24 - - - - - - - - - - 0.34 - NR
Tata Nifty India Tourism Index Jul '24 - - - - 0.2 66 26 8 0 - 0.34 278 NR
Tata Nifty Realty Index Apr '24 - - - - 1.3 63 33 4 0 - 0.43 61 NR
Tata Nifty500 Multicap Ind Manu 50:30:20 Apr '24 - - - - 0.2 63 36 1 0 - 0.48 126 NR
UTI BSE Housing Index Jun '23 36.3 - 4 - - 63 37 - 0 - 0.57 27 NR
UTI Nifty Midcap 150 Quality 50 Index Apr '22 34.7 - 7 - 0.1 24 76 - 0 - 0.43 252 NR
UTI Nifty200 Quality 30 Index Sep '24 - - - - 0.1 94 6 - 0 - 0.43 248 NR
All data as of October 31, 2024. Portfolio-related data as of September 30, 2024. Risk Grade measures a fund’s downside volatility against a risk-free return. Based on underperformance, funds are rated: High (Top
10%), +Avg (Next 22.5%), Average (Middle 35%), -Avg (Next 22.5%), and Low (Bottom 10%).

Mutual Fund Insight December 2024 91

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 SCOREBOARD Index Funds
Tracking Portfolio Composition (%)
Launch Performance (%) Rank Error (%) Large Mid Small Cash & Risk Expense Assets
Fund name Date 1Y 3Y 1Y 3Y 1Y Cap Cap Cap Others Grade Ratio (%) (` cr) Fund Rating

EQUITY: THEMATIC-PSU
Kotak BSE PSU Index Jul '24 - - - - 0.2 86 13 1 0 - 0.38 74 NR
EQUITY: THEMATIC-CONSUMPTION
Groww Nifty Non-Cyclical Consumer Index May '24 - - - - 0.1 93 7 1 -1 - 0.40 46 NR
EQUITY: INTERNATIONAL
ICICI Pru NASDAQ 100 Index Oct '21 39.4 12.1 1 2 1.5 100 - - 0 - 0.52 1,662 NR
Motilal Oswal S&P 500 Index Apr '20 37.7 12.2 2 1 - 99 0 - 1 - 0.62 3,543 NR
EQUITY: MULTI CAP
HDFC Nifty500 Multicap 50:25:25 Index Aug '24 - - - - 0.2 60 35 5 0 - 0.30 412 NR
Navi Nifty 500 Multicap 50:25:25 Index Aug '24 - - - - 0.3 59 35 5 0 - 0.26 17 NR
Nippon India Nifty 500 Equal Wght Index Sep '24 - - - - 0.5 28 56 16 0 - 0.35 421 NR

Tracking Portfolio Composition (%)

Launch Performance (%) Rank Error (%) Credit Quality Avg. Mat. Yield to Expense Assets
Fund name Date 1Y 3Y 1Y 3Y 1Y High Medium Low (Years) Maturity Ratio (%) (` cr) Fund Rating

DEBT: SHORT DURATION

Edelweiss CRISIL IBX 50:50 Gilt+SDL SD Feb '23 8.8 - 1 - - 100 - - 3 6.9 0.20 154 
DEBT: TARGET MATURITY
ABSL CRISIL IBX 50:50 Gilt+SDL Apr 2028 Oct '22 9.2 - 33 - 0.4 100 - - 3 6.9 0.20 393 NR
ABSL CRISIL IBX Gilt Apr 2028 Index Mar '23 8.6 - 64 - 0.1 100 - - 3 6.8 0.49 29 NR
ABSL CRISIL IBX Gilt -Apr 2029 Index Oct '22 9.7 - 23 - 0.3 100 - - 5 6.8 0.21 691 NR
ABSL CRISIL IBX Gilt April 2033 Index Dec '23 - - - - 0.3 100 - - 8 6.9 0.22 89 NR
ABSL CRISIL IBX Gilt June 2027 Index Jun '24 - - - - 0.3 100 - - 3 6.8 0.19 20 NR
ABSL CRISIL IBX Gilt-April 2026 Index Oct '22 8.1 - 76 - 0.9 100 - - 1 6.7 0.20 337 NR
ABSL CRISIL IBX SDL Jun 2032 Index Feb '23 10.8 - 13 - 1.1 100 - - 7 7.1 0.22 154 NR
ABSL CRISIL-IBX AAA NBFC-HFC Index-Dec25 Oct '24 - - - - 0.3 - - - - - 0.10 - NR
ABSL CRISIL-IBX AAA NBFC-HFC Index-Sep26 Oct '24 - - - - 0.3 - - - - - 0.15 - NR
ABSL CRSl IBX 60:40 SDL+AAA PSU-Apr 2027 Mar '22 8.6 - 66 - 0.3 100 - - 2 7.2 0.20 1,671 NR
ABSL IBX 60:40 SDL+ AAA PSU Apr 2026 Dec '22 8.1 - 78 - 0.3 100 - - 1 7.2 0.20 52 NR
ABSL IBX 60:40 SDL+AAA PSU-Apr 2025 Indx Mar '22 7.6 - 82 - 0.2 100 - - 0 7.1 0.20 224 NR
ABSL Nifty SDL Apr 2027 Index Jan '22 9.0 - 47 - 0.6 100 - - 2 7.0 0.20 4,129 NR
ABSL Nifty SDL Sep 2025 Index Sep '22 7.9 - 79 - 0.4 100 - - 1 6.8 0.19 72 NR
ABSL Nifty SDL Sep 2027 Index Mar '23 9.2 - 36 - 0.8 100 - - 3 7.0 0.20 40 NR
ABSL SDL + PSU Bond Sep 2026 60:40 Sep '21 8.4 5.6 69 5 0.4 100 - - 2 7.2 0.20 9,823 NR
Axis CRISIL IBX 50:50 Gilt+SDL Jun 2028 Jan '23 9.3 - 31 - 0.5 100 - - 3 6.9 0.20 71 NR
Axis CRISIL IBX 50:50 Gilt+SDL Sep 2027 Feb '23 9.0 - 48 - 0.2 100 - - 3 6.9 0.15 32 NR
Axis CRISIL IBX 7030 CPSE + SDL Apl 2025 Jan '22 7.6 - 81 - 0.4 100 - - 0 7.4 0.16 508 NR
Axis CRISIL IBX AAA NBFC Index-Jun 2027 Sep '24 - - - - 0.3 100 - - 2 7.9 0.15 417 NR
Axis CRISIL IBX SDL June 2034 Debt Index Mar '24 - - - - 1.1 100 - - 9 7.2 0.20 30 NR
Axis CRISIL IBX SDL May 2027 Index Feb '22 9.2 - 38 - 0.5 100 - - 2 7.0 0.16 2,186 NR
Axis Nifty SDL September 2026 Debt Index Nov '22 8.9 - 52 - 0.6 100 - - 2 7.0 0.17 75 NR
All data as of October 31, 2024. Portfolio-related data as of September 30, 2024. Risk Grade measures a fund’s downside volatility against a risk-free return. Based on underperformance, funds are rated: High (Top
10%), +Avg (Next 22.5%), Average (Middle 35%), -Avg (Next 22.5%), and Low (Bottom 10%).

92 Mutual Fund Insight December 2024

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 Tracking Portfolio Composition (%)
Launch Performance (%) Rank Error (%) Credit Quality Avg. Mat. Yield to Expense Assets
Fund name Date 1Y 3Y 1Y 3Y 1Y High Medium Low (Years) Maturity Ratio (%) (` cr) Fund Rating

Bandhan CRISIL IBX 90:10 SDL+Gilt Apr 32 Nov '22 10.9 - 8 - 4.9 100 - - 8 7.2 0.08 374 NR
Bandhan CRISIL IBX 90:10 SDL+Gilt Nov 26 Nov '22 8.8 - 54 - 1.0 100 - - 2 7.0 0.16 114 NR
Bandhan CRISIL IBX 90:10 SDL+Gilt Sep 27 Nov '22 9.3 - 32 - 0.9 100 - - 3 7.0 0.16 164 NR
Bandhan Crisil IBX Gilt April 2026 Index Oct '22 8.1 - 74 - 0.9 100 - - 1 6.8 0.16 490 NR
Bandhan CRISIL IBX Gilt April 2028 Index Mar '21 9.0 5.8 44 1 0.1 100 - - 3 6.8 0.18 4,749 NR
Bandhan Crisil IBX Gilt April 2032 Index Feb '23 10.7 - 14 - 0.3 100 - - 7 6.8 0.20 411 NR
Bandhan CRISIL IBX Gilt June 2027 Index Mar '21 8.7 5.6 61 6 0.2 100 - - 3 6.8 0.18 7,229 NR
Baroda BNP Paribas Nifty SDL Dec 2026 $ Jan '23 9.0 - 46 - 0.7 100 - - 2 6.9 0.19 115 NR
Baroda BNP Paribas NIFTY SDL Dec 2028 $ Mar '23 9.9 - 19 - 1.2 100 - - 4 6.9 0.19 32 NR
DSP CRISIL SDL+G-Sec Apr 2033 50:50 Indx Jan '23 11.0 - 7 - 0.6 100 - - 8 7.0 0.16 374 NR
DSP Nifty SDL Plus G-Sec Jun 2028 30:70 Mar '22 9.2 - 37 - 0.4 100 - - 3 6.9 0.16 2,235 NR
DSP Nifty SDL+G-Sec Sep 2027 50:50 Index Feb '23 9.1 - 42 - 0.5 100 - - 3 6.9 0.16 92 NR
Edelweiss CRISIL IBX 50:50 Gilt+SDL 2027 Oct '22 8.9 - 51 - - 100 - - 3 6.9 0.20 95 NR
Edelweiss CRISIL IBX 50:50 Gilt+SDL 2028 Nov '22 9.5 - 27 - - 100 - - 4 7.0 0.20 178 NR
Edelweiss CRISIL IBX 50:50 Gilt+SDL 2037 Oct '22 12.0 - 1 - - 100 - - 12 7.1 0.20 1,016 NR
Edelweiss CRISIL PSU+SDL 50:50 Oct 2025 Mar '22 7.8 - 80 - - 100 - - 1 7.3 0.21 833 NR
Edelweiss NIFTY PSU Bond+ Apr 2026 50:50 Mar '21 8.1 5.6 77 4 0.4 100 - - 1 7.4 0.20 8,715 NR
Edelweiss NIFTY PSU Bond+ Apr2027 50:50 Oct '21 8.7 5.8 59 2 0.5 100 - - 2 7.2 0.20 2,338 NR
HDFC NIFTY G-Sec Apr 2029 Index Mar '23 9.6 - 24 - 0.2 100 - - 4 6.8 0.20 163 NR
HDFC Nifty G-sec Dec 2026 Index Nov '22 8.5 - 68 - 0.4 100 - - 2 6.8 0.20 1,313 NR
HDFC Nifty G-Sec July 2031 Index Nov '22 10.4 - 15 - 0.6 100 - - 7 6.8 0.20 658 NR
HDFC Nifty G-Sec Jun 2027 Index Dec '22 8.7 - 60 - 0.2 100 - - 3 6.8 0.20 758 NR
HDFC NIFTY G-Sec Jun 2036 Index Mar '23 11.8 - 2 - 0.8 100 - - 12 6.9 0.20 801 NR
HDFC Nifty G-Sec Sep 2032 Index Dec '22 10.8 - 11 - 0.7 100 - - 8 6.8 0.20 605 NR
HDFC Nifty SDL Oct 2026 Index Feb '23 8.8 - 55 - 0.6 100 - - 2 7.0 0.20 191 NR
HDFC NIFTY SDL+G-Sec Jun 2027 40:60 Indx Mar '23 8.9 - 50 - 0.3 100 - - 3 6.9 0.20 48 NR
HSBC CRISIL IBX 50:50 Gilt+SDL Apr 2028 Mar '22 9.2 - 34 - 0.4 100 - - 3 6.9 0.23 1,888 NR
HSBC CRISIL IBX Gilt June 2027 Index Mar '23 8.7 - 62 - 0.2 100 - - 3 6.8 0.17 194 NR
ICICI Pru Nifty G-Sec Dec 2030 Index Oct '22 10.1 - 17 - 0.7 100 - - - - 0.20 936 NR
ICICI Pru Nifty SDL Dec 2028 Index Oct '22 10.0 - 18 - 1.2 100 - - - - 0.20 966 NR
ICICI Pru Nifty SDL Sep 2026 Index Dec '22 8.7 - 56 - 0.6 100 - - - - 0.19 266 NR
ICICI Pru Nifty SDL Sep 2027 Index Mar '22 9.4 - 29 - 0.8 100 - - - - 0.20 1,732 NR
ICICI Pru Nty PSU + SDL Sep 2027 40:60 Sep '21 9.0 5.7 49 3 0.6 100 - - - - 0.20 8,748 NR
Invesco India Nifty G-sec Jul 2027 Index Mar '23 8.7 - 58 - 0.1 100 - - 3 6.8 0.14 68 NR
Invesco India Nifty G-sec Sep 2032 Index Mar '23 10.8 - 12 - 0.2 100 - - 7 6.8 0.14 45 NR
Kotak CRISIL IBX AAA Fin Srv Ind-Sep2027 Sep '24 - - - - - 100 - - 3 7.8 0.20 355 NR
Kotak Nifty AAA Bond Jun 2025 HTM Index Mar '24 - - - - 0.2 100 - - 1 7.6 0.15 20 NR
Kotak Nifty G-Sec July 2033 Index Oct '23 10.4 - 16 - 0.2 100 - - 8 6.8 0.14 18 NR
Kotak Nifty SDL Apr2027 Top12 Equal Wght Feb '22 9.1 - 41 - 0.7 100 - - 2 7.0 0.20 8,030 NR
Kotak Nifty SDL Apr2032 Top12 Equal Wght Feb '22 10.8 - 9 - 1.4 100 - - 7 7.2 0.20 2,885 NR
Kotak Nifty SDL Jul 2026 Index Dec '22 8.7 - 63 - 0.6 100 - - 2 7.0 0.20 120 NR
All data as of October 31, 2024. Portfolio-related data as of September 30, 2024. Risk Grade measures a fund’s downside volatility against a risk-free return. Based on underperformance, funds are rated: High (Top
10%), +Avg (Next 22.5%), Average (Middle 35%), -Avg (Next 22.5%), and Low (Bottom 10%). $ Expense as of September 30, 2024.

Mutual Fund Insight December 2024 93

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 SCOREBOARD Index Funds
Tracking Portfolio Composition (%)
Launch Performance (%) Rank Error (%) Credit Quality Avg. Mat. Yield to Expense Assets
Fund name Date 1Y 3Y 1Y 3Y 1Y High Medium Low (Years) Maturity Ratio (%) (` cr) Fund Rating

Kotak Nifty SDL Jul 2033 Index Feb '23 11.1 - 6 - 1.4 100 - - 8 7.2 0.22 197 NR
Kotak Nifty SDL+AAA PSU Bond 2028 60:40 Oct '22 9.2 - 40 - 0.8 100 - - 3 7.2 0.21 581 NR
Mirae Asset CRISIL IBX Gilt Indx-Apr2033 Oct '22 10.8 - 10 - 0.2 100 - - 8 6.9 0.08 263 NR
Mirae Asset Nifty AAA PSU Bond+SDL Apr26 Oct '22 8.1 - 75 - 0.3 100 - - 1 7.3 0.12 89 NR
Mirae Asset Nifty SDL June 2027 Index Mar '22 9.2 - 35 - 0.8 100 - - 3 7.1 0.14 757 NR
Mirae Asset Nifty SDL June 2028 Index Mar '23 9.7 - 22 - 1.1 100 - - 3 7.1 0.12 69 NR
Nippon Ind Nifty AAA Bnd+SDL-Apr27 60:40 Mar '22 8.5 - 67 - 0.4 100 - - 2 7.3 0.15 3,321 NR
Nippon Ind Nifty AAA PSU Bnd+SDL-Sep2026 Oct '22 8.3 - 72 - 0.4 100 - - 2 7.2 0.20 445 NR
Nippon India CRISIL IBX AAA Fin Sr-Dec26 Oct '24 - - - - - - - - - - 0.15 - NR
Nippon India CRISIL IBX AAA Fin Sr-Jan28 Oct '24 - - - - - - - - - - 0.15 - NR
Nippon India Nifty G-Sec Jun 2036 Mtrty Dec '22 11.8 - 3 - 0.7 100 - - 12 6.9 0.20 660 NR
Nippon India Nifty G-Sec Oct 2028 Mtrty Mar '23 9.0 - 45 - 0.4 100 - - 4 6.8 0.20 117 NR
Nippon India Nifty G-Sec Sep 2027 Mtrty Dec '22 8.7 - 57 - 0.1 100 - - 3 6.8 0.20 416 NR
Nippon India Nifty SDL+G-Sec-Jun 2028 Nov '22 9.5 - 26 - 0.6 100 - - 3 7.0 0.20 389 NR
Nippon India Nifty SDL+G-Sec-Jun 2029 Feb '23 9.8 - 20 - 1.0 100 - - 4 7.0 0.20 284 NR
PGIM India CRISIL IBX Gilt Apr 2028 Feb '23 8.9 - 53 - 0.1 100 - - 3 6.8 0.26 30 NR
SBI CPSE Bond Plus SDL Sep 2026 50:50 Jan '22 8.4 - 70 - 0.4 100 - - 2 7.3 0.22 9,799 NR
SBI CRISIL IBX Gilt Index-April 2029 Oct '22 9.6 - 25 - 0.3 100 - - 5 6.8 0.21 2,204 NR
SBI CRISIL IBX Gilt Index-June 2036 Oct '22 11.7 - 4 - 3.5 100 - - 12 6.9 0.28 2,405 NR
SBI CRISIL IBX SDL Index-September 2027 Oct '22 9.3 - 30 - - 100 - - 3 7.0 0.23 1,103 NR
Tata CRISIL-IBX Gilt Index-April 2026 Sep '22 8.2 - 73 - 0.9 100 - - 1 6.8 0.12 1,117 NR
Tata Nifty G-Sec Dec 2026 Index Jan '23 8.6 - 65 - 0.4 100 - - 2 6.8 0.14 119 NR
Tata Nifty G-Sec Dec 2029 Index Jan '23 9.8 - 21 - 0.3 100 - - 5 6.8 0.13 179 NR
Tata Nifty SDL+AAA PSU Bond Dec 27 60:40 Mar '22 9.1 - 43 - 0.7 100 - - 3 7.2 0.22 872 NR
UTI CRISIL SDL Maturity April 2033 Index Dec '22 11.2 - 5 - 3.6 100 - - 8 7.2 0.17 334 NR
UTI CRISIL SDL Maturity June 2027 Index Jan '23 9.2 - 39 - 0.6 100 - - 3 7.1 0.18 80 NR
UTI Nifty SDL+AAA PSU Bond Apr2026 75:25 Feb '23 8.3 - 71 - 0.5 100 - - 1 7.2 0.18 177 NR
UTI Nifty SDL+AAA PSU Bond Apr2028 75:25 Mar '23 9.4 - 28 - 0.9 100 - - 3 7.2 0.25 41 NR
All data as of October 31, 2024. Portfolio-related data as of September 30, 2024. Risk Grade measures a fund’s downside volatility against a risk-free return. Based on underperformance, funds are rated: High (Top
10%), +Avg (Next 22.5%), Average (Middle 35%), -Avg (Next 22.5%), and Low (Bottom 10%).

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 SCOREBOARD Exchange-traded funds (ETFs)
Avg. Performance (%) Tracking Portfolio Composition (%)
Premium/ 1Y 3Y Error Large Mid Small Cash & Expense
ETF Name NAV (`) Price (`) Discount NAV Price NAV Price 1Y (%) Cap Cap Cap Others Ratio (%) Assets (` cr) Liquidity

EQUITY: LARGE CAP

ABSL BSE Sensex ETF 78.50 78.71 0.07 25.7 26.1 11.5 11.4 0.0 100 - - 0 0.08 543 Low
ABSL Nifty 200 Momentum 30 ETF 34.92 35.03 0.19 55.2 52.8 - - 0.1 96 3 - 0 0.32 71 Moderate
ABSL Nifty 50 ETF 27.79 27.79 0.03 28.2 28.2 12.3 12.3 0.0 100 - - 0 0.06 2,815 Moderate
ABSL Nifty Next 50 ETF 72.42 72.59 0.14 59.7 60.0 19.2 19.3 0.1 100 - - 0 0.17 62 Moderate
Axis BSE Sensex ETF 80.79 81.00 0.38 25.6 26.2 - - 0.0 100 - - 0 0.07 135 Low
Axis Nifty 50 ETF 262.57 263.07 0.04 28.2 28.3 12.3 12.2 0.0 100 - - 0 0.07 722 Moderate
Bajaj FinServ Nifty 50 ETF 244.19 244.73 0.13 - - - - 0.0 100 - - 0 0.07 165 Moderate
Bandhan BSE Sensex ETF 852.15 853.05 0.21 25.3 24.8 11.1 11.1 0.1 100 - - 0 0.38 1 Low
Bandhan Nifty 50 ETF 262.31 262.10 0.26 28.2 28.0 12.2 12.1 0.0 100 - - 0 0.09 28 Low
BHARAT 22 ETF 113.33 113.48 0.11 53.4 53.4 36.0 35.9 0.2 92 7 0 0 0.07 20,613 High
DSP BSE Sensex ETF 80.37 80.52 0.27 25.5 - - - 0.0 100 - - 0 0.22 8 Low
DSP NIFTY 50 Equal Weight ETF 315.15 316.08 0.16 34.2 34.2 - - 0.0 100 - - 0 0.30 220 High
DSP Nifty 50 ETF 249.86 250.49 0.10 28.2 28.4 - - 0.0 100 - - 0 0.07 390 Moderate
DSP Nifty Top 10 Equal Wght ETF 93.51 93.78 0.56 - - - - 0.1 100 - - 0 0.15 99 High
HDFC BSE Sensex ETF 88.35 88.56 -0.20 25.7 25.6 11.5 10.8 0.0 100 - - 0 0.05 529 Moderate
HDFC NIFTY 100 ETF 25.54 25.61 0.14 32.6 32.6 - - 0.0 100 - - 0 0.30 18 Moderate
HDFC Nifty 50 ETF 267.33 267.97 0.13 28.3 28.2 12.3 11.9 0.0 100 - - 0 0.05 4,057 High
HDFC NIFTY NEXT 50 ETF 70.55 70.65 0.17 59.5 59.6 - - 0.1 100 - - 0 0.15 51 Moderate
HDFC NIFTY100 Low Volatility 30 ETF 19.94 20.01 0.14 33.5 33.7 - - 0.1 100 - - 0 0.30 14 Low
HDFC Nifty200 Momentum 30 ETF 34.72 34.82 0.23 55.1 54.8 - - 0.2 97 3 - 0 0.30 71 Moderate
ICICI Pru BSE Sensex ETF 895.15 897.08 0.15 25.8 25.8 11.6 11.5 0.0 100 - - 0 0.03 13,019 Moderate
ICICI Pru Nifty 100 ETF 27.65 27.63 -0.24 32.4 32.2 12.6 12.4 0.0 100 - - 0 0.48 102 Moderate
ICICI Pru Nifty 200 Momentum 30 ETF 35.15 35.21 0.19 55.3 55.2 - - 0.1 97 3 - 0 0.30 305 High
ICICI Pru Nifty 50 ETF 268.74 269.48 0.04 28.3 28.4 12.3 12.3 0.0 100 - - 0 0.03 20,751 High
ICICI Pru Nifty Alpha Low- Voltly 30 ETF 29.30 29.39 -0.21 46.1 46.2 19.1 19.0 0.1 98 2 - 0 0.40 1,549 High
ICICI Pru Nifty Next 50 ETF 72.67 72.88 0.16 59.7 60.0 19.2 19.4 0.1 100 - - 0 0.10 926 High
ICICI Pru Nifty100 Low Volatility 30 ETF 21.47 21.53 -0.20 33.4 33.6 15.6 15.6 0.1 100 - - 0 0.41 3,588 High
Invesco India Nifty 50 ETF 2722.67 2724.42 0.12 28.2 27.6 12.2 12.2 0.0 100 - - 0 0.10 95 Low
Kotak BSE Sensex ETF 85.63 85.40 0.28 25.5 24.7 11.3 10.9 0.0 100 - - 0 0.18 29 Low
Kotak Nifty 100 Low Volatility 30 ETF 20.33 20.27 0.18 33.7 33.4 - - 0.1 100 - - 0 0.09 162 Moderate
Kotak Nifty 50 ETF 263.12 263.74 0.07 28.3 28.4 12.2 12.2 0.0 100 - - 0 0.04 2,587 High
Kotak Nifty Alpha 50 ETF 53.94 54.12 0.21 58.8 59.2 - - 0.5 63 37 - 0 0.30 340 High
LIC MF BSE Sensex ETF 880.48 901.99 0.11 25.6 27.9 11.4 11.7 0.0 100 - - 0 0.10 875 Low
LIC MF Nifty 100 ETF 270.47 273.33 -0.28 32.6 28.9 12.8 15.6 0.0 100 - - 0 0.28 773 Low
LIC MF Nifty 50 ETF 266.24 267.06 -0.18 28.2 29.0 12.2 11.9 0.0 100 - - 0 0.06 882 Moderate
Mirae Asset BSE Sensex ETF 80.39 80.43 0.15 25.7 - - - 0.0 100 - - 0 0.05 11 Moderate
Mirae Asset Nifty 100 Low Vol 30 ETF 199.73 200.22 0.12 33.6 34.4 - - 0.0 100 - - 0 0.20 12 Low
Mirae Asset Nifty 200 Alpha 30 ETF 26.28 26.35 0.30 57.8 - - - 0.2 97 3 - 0 0.38 305 High
Mirae Asset Nifty 50 ETF 258.01 258.36 0.07 28.3 28.4 12.3 12.3 0.0 100 - - 0 0.04 3,389 High
Mirae Asset Nifty Next 50 ETF 710.38 711.11 0.08 59.6 59.4 19.1 19.0 0.1 100 - - 0 0.05 306 Moderate
Motilal Oswal BSE Low Volatility ETF 37.25 37.47 0.13 32.6 28.8 - - - 81 19 - 0 0.37 87 Moderate
Motilal Oswal Nifty 200 Momentum 30 ETF 69.95 70.09 0.17 55.4 55.4 - - 0.1 97 3 - 0 0.30 100 High
Motilal Oswal Nifty 50 ETF 248.32 249.59 0.15 28.2 29.1 12.3 12.3 0.0 100 - - 0 0.06 47 Moderate

Mutual Fund Insight December 2024 95

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 SCOREBOARD Exchange-traded funds (ETFs)
Avg. Performance (%) Tracking Portfolio Composition (%)
Premium/ 1Y 3Y Error Large Mid Small Cash & Expense
ETF Name NAV (`) Price (`) Discount NAV Price NAV Price 1Y (%) Cap Cap Cap Others Ratio (%) Assets (` cr) Liquidity
Navi Nifty 50 ETF 244.82 295.11 4.27 28.2 - - - 0.2 98 - - 2 0.05 8 Low
Nippon Ind ETF Nifty Next 50 Junior BeES 744.63 746.59 0.17 59.5 59.6 19.1 19.1 0.1 100 - - 0 0.17 5,698 High
Nippon India ETF BSE Sensex 895.35 898.21 0.11 25.8 25.9 11.5 11.6 0.0 100 - - 0 0.04 11,508 Moderate
Nippon India ETF BSE Sensex Next 50 84.68 84.90 0.14 48.3 48.4 20.5 20.3 0.1 88 12 - 1 0.23 45 Low
Nippon India ETF Nifty 100 262.95 263.71 0.14 32.3 32.5 12.5 12.5 0.0 100 - - 0 0.50 270 Moderate
Nippon India ETF Nifty 50 BeES 270.17 270.64 0.05 28.3 28.3 12.3 12.3 0.0 100 - - 0 0.04 34,093 High
Nippon India ETF Nifty 50 Shariah BeES 546.99 546.41 0.09 27.8 27.4 8.1 8.1 0.1 100 - - 0 0.96 25 Moderate
Quantum Nifty 50 ETF 2613.28 2616.16 0.07 28.2 28.3 12.2 12.2 0.0 100 - - 0 0.10 62 Moderate
SBI BSE 100 ETF 278.21 278.71 0.19 31.9 31.8 13.8 13.7 0.0 98 2 - 0 0.14 10 Low
SBI BSE Sensex ETF 868.13 870.82 0.12 25.7 25.8 11.5 11.5 0.0 100 - - 0 0.04 1,28,670 High
SBI BSE Sensex Next 50 ETF 865.91 868.01 0.15 48.6 48.7 20.7 20.3 0.1 88 12 - 0 0.12 20 Low
SBI Nifty 50 Equal Weight ETF 30.72 30.66 0.13 - - - - 0.0 100 - - 0 0.30 20 Moderate
SBI Nifty 50 ETF 255.39 255.94 0.04 28.3 28.4 12.3 12.2 0.0 100 - - 0 0.04 2,12,886 High
SBI Nifty Next 50 ETF 737.58 739.42 0.13 59.6 59.9 19.1 19.2 0.1 100 - - 0 0.15 3,204 High
Tata Nifty 50 ETF 258.39 259.80 0.13 28.2 28.8 12.3 12.0 0.0 100 - - 0 0.07 731 Moderate
UTI BSE Sensex ETF 862.75 864.79 0.23 25.7 25.9 11.5 11.4 0.0 100 - - 0 0.05 47,976 Moderate
UTI BSE Sensex Next 50 ETF 86.28 86.65 0.10 48.6 49.5 20.8 21.0 0.1 88 12 - 0 0.20 24 Low
UTI Nifty 50 ETF 262.90 263.58 0.08 28.3 28.4 12.3 12.3 0.0 100 - - 0 0.05 62,297 High
UTI Nifty Next 50 ETF 74.22 74.45 0.13 59.6 60.3 19.2 19.2 0.1 100 - - 0 0.15 2,582 High
Zerodha Nifty 100 ETF 10.33 10.36 0.18 - - - - 0.0 100 - - 0 0.22 23 Moderate
EQUITY: LARGE & MID CAP
ICICI Pru BSE Midcap Select ETF 17.69 17.74 -0.23 49.0 49.5 18.9 19.0 - 62 38 - 0 0.15 76 Moderate
EQUITY: FLEXI CAP
HDFC BSE 500 ETF 36.24 36.96 0.50 35.5 34.3 - - 0.0 80 18 2 0 0.30 15 Moderate
ICICI Pru BSE 500 ETF 38.13 38.23 0.13 35.4 35.5 15.3 15.2 0.0 80 18 2 0 0.32 303 High
Motilal Oswal Nifty 500 ETF 22.88 22.98 0.17 35.9 - - - 0.0 79 19 2 0 0.21 74 Moderate
Motilal Oswal Nifty 500 Momentum 50 ETF 59.14 59.22 0.40 - - - - 0.1 82 18 - 0 0.40 11 High
EQUITY: MID CAP
HDFC NIFTY Midcap 150 ETF 21.00 21.07 0.15 43.8 44.4 - - 0.0 40 60 - 0 0.20 59 Moderate
ICICI Pru Nifty Midcap 150 ETF 21.41 21.47 -0.25 43.9 43.9 22.9 22.9 0.0 40 60 - 0 0.15 425 High
Kotak Nifty Midcap 50 ETF 157.67 158.11 0.21 41.1 41.1 - - 0.1 57 42 - 0 0.05 39 Moderate
LIC MF Nifty Midcap 100 ETF 56.12 56.46 -0.45 - - - - 0.3 48 52 - 0 0.16 744 Moderate
Mirae Asset Nifty Midcap 150 ETF 21.13 21.16 0.03 44.0 44.1 - - 0.1 40 60 - 0 0.05 945 High
Motilal Oswal Nifty Midcap 100 ETF 60.03 60.10 0.16 45.1 45.2 23.2 23.3 0.3 48 52 - 0 0.22 554 High
Nippon India ETF Nifty Midcap 150 214.28 215.00 0.16 43.8 44.2 22.9 22.9 0.1 40 60 - 0 0.21 1,752 High
UTI Nifty Midcap 150 ETF 209.36 210.69 0.27 43.8 - - - 0.1 40 60 - 0 0.20 6 Low
Zerodha Nifty Midcap 150 ETF 10.30 10.32 0.19 - - - - 0.0 40 60 - 0 0.18 24 Moderate
EQUITY: SMALL CAP
HDFC NIFTY Smallcap 250 ETF 178.18 178.22 0.21 47.8 47.4 - - 0.1 - 80 20 0 0.20 530 High
Motilal Oswal Nifty Smallcap 250 ETF 17.76 17.69 0.20 - - - - 0.3 - 80 20 0 0.30 102 High
EQUITY: VALUE ORIENTED
HDFC NIFTY50 Value 20 ETF 140.76 141.20 0.28 37.4 37.3 - - 0.1 100 - - 0 0.15 34 Moderate
ICICI Pru Nifty200 Value 30 ETF 13.11 13.16 0.23 - - - - 0.0 - - - - 0.30 - Moderate
ICICI Pru Nifty50 Value 20 ETF 15.27 15.31 -0.24 37.3 37.5 17.9 18.1 0.1 100 - - 0 0.25 169 Moderate

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 Avg. Performance (%) Tracking Portfolio Composition (%)
Premium/ 1Y 3Y Error Large Mid Small Cash & Expense
ETF Name NAV (`) Price (`) Discount NAV Price NAV Price 1Y (%) Cap Cap Cap Others Ratio (%) Assets (` cr) Liquidity
Kotak Nifty 50 Value 20 ETF 156.00 167.19 0.24 37.6 46.9 18.1 20.5 0.1 100 - - 0 0.14 75 Moderate
Motilal Oswal BSE Enhanced Value ETF 100.92 101.18 0.23 62.1 61.2 - - 0.1 84 16 - 0 0.30 137 High
Nippon India ETF Nifty 50 Value 20 156.66 156.92 0.17 37.2 37.4 17.8 17.7 0.1 100 - - 0 0.26 178 Moderate
EQUITY: SECTORAL-BANKING
ABSL Nifty Bank ETF 52.27 52.37 -0.01 21.0 21.0 10.3 10.4 0.1 93 7 - 0 0.17 2,777 High
Axis NIFTY Bank ETF 525.96 527.72 0.00 20.9 21.5 10.2 10.4 0.1 93 7 - 0 0.19 275 Moderate
Bajaj FinServ Nifty Bank ETF 51.81 51.97 0.18 - - - - 0.1 93 7 - 0 0.13 377 Moderate
Baroda BNP Paribas Nifty Bank ETF 51.42 51.57 0.12 - - - - 0.1 93 7 - 0 0.15 9 Moderate
DSP Nifty Bank ETF 52.20 52.36 0.12 21.0 21.1 - - 0.1 93 7 - 0 0.16 508 High
DSP Nifty Private Bank ETF 25.43 25.51 0.13 14.1 14.0 - - 0.1 90 8 2 0 0.15 203 High
DSP Nifty PSU Bank ETF 67.35 67.18 0.23 36.8 36.2 - - 0.1 84 16 - 0 0.46 18 Moderate
Edelweiss Nifty Bank ETF 51.44 51.59 0.26 - - - - 0.0 93 7 - 0 0.07 16 Moderate
HDFC NIFTY Bank ETF 52.49 52.59 -0.34 21.0 21.1 10.2 10.3 0.1 93 7 - 0 0.16 2,550 High
HDFC NIFTY Private Bank ETF 25.52 25.51 -0.25 14.0 14.0 - - 0.1 90 8 2 0 0.15 331 Moderate
HDFC Nifty PSU Bank ETF 67.61 67.49 0.17 - - - - 0.1 84 16 - 0 0.35 28 Moderate
ICICI Pru Nifty Bank ETF 52.35 52.45 0.02 21.0 21.1 10.3 10.3 0.1 93 7 - 0 0.15 2,989 High
ICICI Pru Nifty Fin Services Ex-Bank ETF 26.26 26.21 0.08 29.0 28.5 - - 0.0 81 18 1 0 0.20 92 Moderate
ICICI Pru Nifty Private Bank ETF 25.30 25.37 -0.27 14.1 14.0 8.3 8.2 0.1 90 8 2 0 0.15 2,570 High
ICICI Pru Nifty PSU Bank ETF 67.87 67.90 0.14 37.0 37.1 - - 0.2 84 16 - 0 0.40 82 High
Kotak Nifty Bank ETF 529.25 529.49 -0.02 21.0 21.0 10.2 10.2 0.1 93 7 - 0 0.15 5,416 High
Kotak Nifty PSU Bank ETF 671.10 671.98 0.09 36.6 36.8 34.3 34.1 0.1 84 16 - 0 0.49 1,349 High
Mirae Asset Nifty Bank ETF 518.99 519.44 0.07 21.1 - - - 0.1 93 7 - 0 0.09 171 High
Mirae Asset Nifty Financial Services ETF 24.47 24.45 -0.01 25.4 25.3 9.2 9.1 0.1 99 1 - 0 0.12 299 High
Mirae Asset Nifty PSU Bank ETF 67.22 67.10 0.02 - - - - 0.1 - - - - 0.18 - Moderate
Nippon India ETF Nifty Bank BeES 528.36 529.64 0.03 20.9 21.1 10.3 10.3 0.1 93 7 - 0 0.19 6,880 High
Nippon India ETF Nifty PSU Bank BeES 74.87 74.86 0.09 36.7 36.5 34.3 34.3 0.1 84 16 - 0 0.49 2,475 High
SBI Nifty Bank ETF 523.94 525.22 0.03 21.0 21.1 10.3 10.3 0.1 93 7 - 0 0.20 4,573 High
SBI Nifty Private Bank ETF 255.78 256.29 0.17 14.0 14.3 8.2 8.3 0.1 90 8 2 0 0.15 169 Moderate
Tata Nifty Private Bank ETF 259.22 261.05 0.17 14.1 14.6 8.2 8.6 0.4 85 12 3 0 0.14 10 Low
UTI Nifty Bank ETF 52.72 52.76 0.02 21.1 21.1 10.4 10.4 0.1 93 7 - 0 0.16 3,620 High
EQUITY: SECTORAL-INFRASTRUCTURE
ICICI Pru Nifty Infrastructure ETF 90.28 90.54 0.14 45.2 45.8 - - 0.0 96 4 - 0 0.50 110 High
Nippon India ETF Nifty Infra BeES 912.16 912.96 0.17 44.3 44.2 20.4 20.4 0.1 96 4 - 0 1.04 159 High
EQUITY: SECTORAL-PHARMA
ABSL Nifty Healthcare ETF 14.75 14.71 0.03 57.3 56.8 19.6 19.2 0.5 85 14 1 0 0.22 40 Moderate
Axis NIFTY Healthcare ETF 146.25 145.95 0.04 56.2 55.7 19.2 18.5 0.0 85 14 1 0 0.34 20 Moderate
DSP Nifty Healthcare ETF 144.72 142.47 0.05 - - - - 0.0 85 13 1 0 0.20 11 Low
ICICI Pru Nifty Healthcare ETF 146.89 147.21 0.07 56.6 56.6 19.4 19.2 0.0 85 13 1 0 0.15 151 Moderate
Motilal Oswal BSE Healthcare ETF 44.29 44.27 0.15 61.4 59.8 - - 0.0 62 29 9 0 0.22 21 Moderate
Nippon India Nifty Pharma ETF 23.17 23.17 0.03 55.4 55.3 18.5 18.1 0.0 81 18 1 0 0.21 852 High
EQUITY: SECTORAL-TECHNOLOGY
ABSL Nifty IT ETF 42.41 42.62 0.11 34.3 34.7 7.2 - 0.1 91 9 - 0 0.21 51 Moderate
Axis NIFTY IT ETF 430.92 431.80 0.02 34.4 34.3 7.3 7.1 0.1 91 9 - 0 0.23 174 Moderate
DSP Nifty IT ETF 41.34 41.22 0.11 34.4 - - - 0.1 91 9 - 0 0.20 43 Moderate

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 SCOREBOARD Exchange-traded funds (ETFs)
Avg. Performance (%) Tracking Portfolio Composition (%)
Premium/ 1Y 3Y Error Large Mid Small Cash & Expense
ETF Name NAV (`) Price (`) Discount NAV Price NAV Price 1Y (%) Cap Cap Cap Others Ratio (%) Assets (` cr) Liquidity
HDFC NIFTY IT ETF 41.73 41.85 -0.30 34.5 34.9 - - 0.0 91 9 - 0 0.20 77 Moderate
ICICI Pru Nifty IT ETF 43.39 43.51 0.04 34.6 34.8 7.4 7.3 0.0 91 9 - 0 0.20 483 High
Kotak Nifty IT ETF 43.20 43.31 0.10 34.6 34.7 7.4 7.4 0.1 91 9 - 0 0.09 196 Moderate
Mirae Asset Nifty IT ETF 41.33 41.45 0.19 34.7 - - - 0.1 91 9 - 0 0.10 136 High
Nippon India ETF Nifty IT 43.44 43.55 0.02 34.5 35.0 7.3 7.3 0.0 91 9 - 0 0.22 2,505 High
SBI Nifty IT ETF 433.61 435.02 0.07 34.5 34.8 7.3 7.2 0.0 91 9 - 0 0.22 118 Moderate
Tata Nifty India Digital ETF 92.39 92.71 -0.03 43.5 43.4 - - 0.6 76 23 1 0 0.40 139 Moderate
UTI Nifty IT ETF 410.22 411.61 0.12 - - - - 0.0 91 9 - 0 0.19 6 Moderate
EQUITY: THEMATIC
ABSL Nifty 200 Quality 30 ETF 21.80 21.98 0.12 33.9 35.0 - - 0.2 93 6 - 0 0.30 54 Moderate
DSP Nifty Midcap 150 Quality 50 ETF 250.92 251.08 0.13 34.9 35.1 - - 0.1 24 76 - 0 0.30 103 Moderate
Groww Nifty EV & New Age Automotive ETF 31.17 31.30 0.35 - - - - 0.1 54 45 1 0 0.47 201 High
Groww Nifty India Defence ETF 63.47 63.62 0.44 - - - - 0.0 - - - - 0.43 - High
HDFC NIFTY Growth Sectors 15 ETF 119.81 120.13 0.18 22.9 23.4 - - 0.1 99 1 - 0 0.30 12 Moderate
HDFC NIFTY100 Quality 30 ETF 58.34 58.72 0.22 32.7 33.3 - - 0.1 100 - - 0 0.30 15 Low
ICICI Pru Nifty 200 Quality 30 ETF 21.60 21.67 -0.17 33.8 34.4 - - 0.1 94 6 - 0 0.30 101 Moderate
ICICI Pru Nifty Auto ETF 24.01 24.11 -0.28 48.6 48.9 - - 0.1 87 13 - 0 0.20 99 High
ICICI Pru Nifty Commodities ETF 89.51 89.79 0.12 42.7 43.0 - - 0.0 93 7 - 0 0.30 46 Moderate
ICICI Pru Nifty FMCG ETF 62.02 62.18 -0.27 17.4 17.9 17.4 17.4 0.0 96 4 1 0 0.20 395 High
ICICI Pru Nifty Metal ETF 9.32 9.34 0.16 - - - - 0.1 79 21 - 0 0.40 51 High
ICICI Pru Nifty Oil & Gas ETF 11.40 11.41 0.29 - - - - 0.0 87 13 - 0 0.40 81 High
Mirae Asset Nfty MidSC400 MomQlty 100ETF 51.45 51.57 0.20 - - - - 0.1 35 63 2 0 0.38 271 High
Mirae Asset Nifty EV&New Age Automtv ETF 31.21 31.34 0.16 - - - - 0.0 54 45 1 0 0.41 140 High
Mirae Asset Nifty Ind Manufacturing ETF 143.81 143.95 0.06 50.8 50.8 - - 0.0 82 18 - 0 0.45 224 Moderate
Mirae Asset Nifty Metal ETF 9.32 9.32 0.01 - - - - 0.0 - - - - 0.26 - Moderate
Mirae Asset Nifty SC 250 Mom Qlty100 ETF 51.11 51.08 0.25 - - - - 0.2 1 88 12 0 0.38 357 High
Motilal Oswal BSE Quality ETF 197.07 197.84 0.28 47.8 47.9 - - 0.1 91 9 - 0 0.30 19 Low
Motilal Oswal Nifty India Defence ETF 69.51 69.62 0.22 - - - - 0.1 64 21 16 0 0.40 37 High
Motilal Oswal Nifty Realty ETF 99.95 99.91 0.17 - - - - 0.1 63 33 4 0 0.40 52 High
Nippon India ETF Nifty Dividend Opp 50 82.38 82.61 0.15 44.7 45.0 22.9 22.7 0.1 92 8 - 0 0.37 74 Moderate
Nippon India Nifty Auto ETF 239.93 239.93 0.09 48.4 48.0 - - 0.0 87 13 - 0 0.22 231 High
SBI Nifty 200 Quality 30 ETF 227.54 228.44 0.12 33.5 33.8 14.4 14.3 0.1 94 6 - 0 0.50 122 Moderate
EQUITY: THEMATIC-MNC
Kotak Nifty MNC ETF 29.59 29.75 0.34 35.4 36.5 - - 0.0 79 21 - 0 0.30 24 Moderate
EQUITY: THEMATIC-PSU
ABSL Nifty PSE ETF 10.23 10.26 0.22 - - - - 0.1 94 5 - 0 0.20 34 Moderate
CPSE ETF 92.41 92.18 0.03 74.0 73.5 46.1 45.9 0.1 94 6 - 0 0.07 44,279 High
EQUITY: THEMATIC-CONSUMPTION
Axis NIFTY India Consumption ETF 117.08 117.39 0.10 38.4 38.7 18.4 18.3 0.1 100 - - 0 0.38 14 Low
ICICI Pru Nifty India Consumption ETF 117.54 117.71 0.09 38.8 39.2 18.6 - 0.0 100 - - 0 0.20 55 Moderate
Kotak NIFTY India Consumption ETF 116.45 116.81 0.25 38.9 39.8 - - 0.1 100 - - 0 0.10 3 Low
Nippon India ETF Nifty India Consumption 126.56 126.92 0.12 38.6 38.5 18.4 18.4 0.0 100 - - 0 0.31 118 High
SBI Nifty Consumption ETF 117.21 117.57 0.08 38.7 39.1 18.4 18.4 0.0 100 - - 0 0.29 19 Low

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 Avg. Performance (%) Tracking Portfolio Composition (%)
Premium/ 1Y 3Y Error Large Mid Small Cash & Expense
ETF Name NAV (`) Price (`) Discount NAV Price NAV Price 1Y (%) Cap Cap Cap Others Ratio (%) Assets (` cr) Liquidity

EQUITY: INTERNATIONAL
Mirae Asset Hang Seng TECH ETF 16.24 19.59 5.89 22.2 45.2 - - 11.4 89 9 - 3 0.60 332 High
Mirae Asset NYSE FANG+ ETF 96.53 98.21 3.77 60.7 62.5 18.5 19.6 2.7 100 - - 0 0.66 2,369 High
Mirae Asset S&P 500 Top 50 ETF 44.49 45.47 1.94 42.4 45.1 14.3 15.6 1.2 100 - - 0 0.65 763 High
Motilal Oswal NASDAQ 100 ETF 163.26 166.27 -0.18 39.4 42.7 12.2 12.8 1.0 100 - - 0 0.58 8,299 High
Motilal Oswal Nasdaq Q50 ETF 65.90 65.82 1.12 34.5 25.9 - - - 87 0 - 13 0.47 58 Moderate
Nippon India ETF Hang Seng BeES 313.63 330.52 5.36 24.8 28.8 -0.7 0.7 0.2 88 2 7 2 0.93 622 High
EQUITY: MULTI CAP
Mirae Asset Nifty500 Multicp 50:25:25ETF 15.91 15.90 0.11 - - - - 0.2 60 35 5 0 0.16 36 Moderate
EQUITY: THEMATIC-ESG
Mirae Asset Nfty100 ESG Sec Leaders ETF 40.79 40.70 -0.03 30.1 29.6 11.0 10.9 0.1 100 - - 0 0.41 136 Moderate

Avg. Performance (%) Tracking Portfolio Composition (%)

Premium/ 1Y 3Y Error Credit Quality Avg. Mat. Yield to Expense
ETF Name NAV (`) Price (`) Discount NAV Price NAV Price 1Y (%) High Medium Low (Years) Maturity Ratio (%) Assets (` cr) Liquidity

DEBT: LIQUID
Bajaj Finserv Nifty 1D Rate Liquid ETF 1000.00 999.99 0.00 - - - - 0.1 100 - - - - 0.19 5 High
DSP BSE Liquid Rate ETF 1038.50 1039.01 0.01 - - - - - 100 - - - 6.6 0.30 2,180 High
DSP NIFTY 1D Rate Liquid ETF 1000.00 999.99 0.00 6.4 0.0 5.5 0.0 0.0 100 - - - 6.6 0.30 823 High
Groww Nifty 1D Rate Liquid ETF 100.71 100.77 0.01 - - - - 0.0 100 - - 0 6.8 0.29 39 High
HDFC NIFTY 1D RATE LIQUID ETF 1000.00 1000.00 0.00 6.2 0.0 - - 0.0 100 - - 0 6.6 0.50 24 High
ICICI Pru BSE Liquid Rate ETF 1000.00 999.99 0.00 6.5 0.0 5.6 0.0 - 100 - - - - 0.25 2,990 High
Kotak Nifty 1D Rate Liquid ETF 1016.32 1016.82 0.00 6.6 1.7 - - 0.0 100 - - 0 6.6 0.19 377 High
Mirae Asset Nfty 1D Rate Liquid ETF-IDCW 1000.00 999.99 0.00 6.4 0.0 - - 0.0 100 - - 0 6.6 0.28 465 High
Nippon India ETF Nifty 1DRate LiquidBeES 1000.00 1000.00 0.00 5.9 0.0 5.0 0.0 0.1 99 - - 0 6.6 0.69 13,656 High
SBI NIFTY 1D Rate ETF 1000.00 1000.00 0.00 - - - - 0.0 100 - - - - 0.35 34 High
Shriram Nifty 1D Rate Liquid ETF 1020.19 1020.68 0.00 - - - - 0.0 100 - - 0 6.7 0.39 24 High
Zerodha Nifty 1D Rate Liquid ETF 105.12 105.17 0.01 - - - - 0.0 100 - - 0 6.6 0.26 2,259 High
DEBT: OVERNIGHT
ABSL CRISIL Liquid Overnight ETF 1000.00 999.99 0.00 6.4 0.0 - - 0.0 100 - - - - 0.43 41 High
DEBT: GILT
ABSL CRISIL Broad Based Gilt ETF 103.23 103.16 0.21 - - - - 0.5 100 - - 12 6.9 0.19 43 Low
ICICI Pru Nifty 5 yr Benchmark G-SEC ETF 58.14 57.66 0.40 9.2 8.4 - - 0.1 100 - - - - 0.20 80 Low
LIC MF Nifty 8-13 yr G-Sec ETF 26.41 26.39 0.11 10.6 10.5 5.8 3.7 0.1 100 - - 10 6.9 0.16 2,200 Low
Mirae Asset Nifty 8-13 yr G-Sec ETF 27.19 27.07 0.22 10.6 9.9 - - 0.1 100 - - 10 6.9 0.10 86 Low
Motilal Oswal Nifty 5Y G-Sec ETF 57.66 57.70 -0.01 9.1 9.2 5.6 5.6 0.1 100 - - 5 6.7 0.24 94 Moderate
Nippon India ETF Nifty 5Y Benchmark GSec 58.08 58.08 0.04 9.3 9.3 5.9 5.8 0.1 100 - - 5 6.8 0.09 184 High
Nippon India ETF Nifty 8-13Y GS LT Gilt 26.83 26.83 0.12 10.6 10.5 5.8 5.9 0.1 100 - - 10 6.9 0.10 2,222 High
UTI Nifty 5 yr Benchmark G-Sec ETF 58.49 58.30 1.40 - - - - 0.3 100 - - - - 0.20 1 Moderate
DEBT: GILT WITH 10 YEAR CONSTANT DURATION
ABSL CRISIL 10 Year Gilt ETF 101.75 102.00 0.19 - - - - 0.0 100 - - 10 6.9 0.10 17 Moderate
ICICI Pru Nifty 10yr Benchmark G-Sec ETF 239.34 239.41 0.22 10.3 10.4 - - 0.9 100 - - - - 0.14 507 Low
SBI Nifty 10Y Benchmark G-Sec ETF 239.58 239.38 0.18 10.4 9.8 5.5 5.5 0.9 100 - - - - 0.14 3,047 Moderate
UTI Nifty 10 yr Benchmark G-Sec ETF 24.18 24.22 1.03 - - - - 1.1 100 - - - - 0.25 1 Moderate

Mutual Fund Insight December 2024 99

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 SCOREBOARD Exchange-traded funds (ETFs)
Avg. Performance (%) Tracking Portfolio Composition (%)
Premium/ 1Y 3Y Error Credit Quality Avg. Mat. Yield to Expense
ETF Name NAV (`) Price (`) Discount NAV Price NAV Price 1Y (%) High Medium Low (Years) Maturity Ratio (%) Assets (` cr) Liquidity

COMMODITIES: GOLD
ABSL Gold ETF 70.56 70.68 0.21 28.3 28.9 17.3 17.3 0.2 - - - - - 0.54 864 Moderate
Axis Gold ETF 67.07 67.25 0.23 27.9 29.0 17.4 17.5 4.6 - - - - - 0.55 1,068 High
Baroda BNP Paribas Gold ETF 78.13 78.50 0.19 - - - - 1.9 - - - - - 0.48 72 Low
DSP Gold ETF 78.12 78.40 0.23 28.2 28.7 - - 0.3 - - - - - 0.48 556 High
Edelweiss Gold ETF 80.69 81.00 0.20 - - - - - - - - - - 0.35 69 Moderate
Groww Gold ETF 79.12 79.45 0.33 - - - - 0.4 - - - - - 0.51 - High
HDFC Gold ETF 68.71 68.90 0.26 27.6 28.6 17.3 17.4 5.1 - - - - - 0.59 6,040 High
ICICI Pru Gold ETF 68.73 68.95 0.33 28.4 28.8 17.3 17.4 2.0 - - - - - 0.50 5,025 High
Invesco India Gold ETF 7003.46 7019.90 0.07 28.3 29.5 17.5 17.5 8.4 - - - - - 0.55 125 Moderate
Kotak Gold ETF 67.08 67.25 0.22 28.3 28.5 17.3 17.1 1.9 - - - - - 0.55 4,912 High
LIC MF Gold ETF 7241.90 7254.30 -0.01 28.6 29.1 17.9 18.2 10.0 - - - - - 0.41 151 Moderate
Mirae Asset Gold ETF 78.20 78.20 0.45 28.3 27.4 - - 1.7 - - - - - 0.34 397 High
Nippon India ETF Gold BeES 66.71 66.92 0.24 28.2 28.5 17.1 17.2 0.2 - - - - - 0.81 13,725 High
Quantum Gold 66.55 66.68 0.25 27.9 28.8 17.2 17.3 5.6 - - - - - 0.78 224 Moderate
SBI Gold ETF 68.68 68.87 0.30 27.6 28.6 17.2 17.4 2.0 - - - - - 0.65 5,411 High
Tata Gold ETF 7.80 7.84 0.79 - - - - 3.9 - - - - - 0.38 200 High
UTI Gold ETF 67.42 67.20 0.03 28.5 28.7 17.5 17.2 4.7 - - - - - 0.49 1,440 High
Zerodha Gold ETF 12.65 12.70 0.34 - - - - 0.4 - - - - - 0.31 83 Moderate
COMMODITIES: SILVER
ABSL Silver ETF 97.70 98.06 0.15 32.7 33.3 - - 0.6 - - - - - 0.35 450 High
Axis Silver ETF 97.50 97.72 0.01 31.5 33.0 - - 10.5 - - - - - 0.37 137 Moderate
DSP Silver ETF 94.41 94.80 0.17 32.4 33.7 - - 0.6 - - - - - 0.50 231 High
Edelweiss Silver ETF 98.23 98.59 0.24 - - - - 4.0 - - - - - 0.39 71 Moderate
HDFC Silver ETF 94.12 94.55 0.15 33.1 33.2 - - 10.8 - - - - - 0.40 321 High
ICICI Pru Silver ETF 97.64 98.06 0.28 32.7 33.3 - - 4.5 - - - - - 0.40 3,714 High
Kotak Silver ETF 95.09 95.35 0.23 32.6 33.0 - - 4.5 - - - - - 0.45 713 Moderate
Mirae Asset Silver ETF 95.51 95.68 0.22 32.5 32.9 - - 4.0 - - - - - 0.40 82 Moderate
Nippon India Silver ETF 94.09 94.27 0.10 32.4 32.7 - - 1.8 - - - - - 0.56 4,477 High
SBI Silver ETF 96.17 96.21 0.20 - - - - 5.9 - - - - - 0.42 423 High
Tata Silver ETF 9.47 9.54 -0.01 - - - - 5.7 - - - - - 0.45 100 High
UTI Silver ETF 95.71 95.47 0.27 33.2 32.8 - - 7.0 - - - - - 0.51 120 High
DEBT: TARGET MATURITY
Axis Nifty AAA + SDL Apr 2026 50:50 12.16 12.15 -0.15 8.1 8.1 5.5 5.4 0.3 100 - - 1 7.3 0.09 1,301 Moderate
BHARAT Bond ETF-April 2025 1250.87 1251.18 -0.09 7.8 7.8 5.5 5.3 0.2 100 - - 0 7.5 0.001 11,588 High
BHARAT Bond ETF-April 2030 1426.23 1426.90 0.02 9.6 9.8 6.5 6.4 0.7 100 - - 5 7.2 0.001 18,869 High
BHARAT Bond ETF-April 2031 1277.81 1278.08 -0.05 10.1 10.3 6.5 6.5 0.9 100 - - 6 7.2 0.001 14,088 High
BHARAT Bond ETF-April 2032 1202.26 1202.55 -0.03 10.5 10.3 - - 1.1 100 - - 7 7.2 0.001 10,575 Moderate
BHARAT Bond ETF-April 2033 1168.53 1169.68 0.16 10.7 10.9 - - 1.3 100 - - 8 7.1 0.001 5,979 Moderate
Nippon Ind ETF Nfty SDL Apr26 Top20 Equl 125.46 125.22 -0.04 8.4 8.1 5.8 5.7 0.4 100 - - 1 7.0 0.20 5,512 Moderate
All data as of October 31, 2024. AUM as of September 30, 2024. Average premium/(discount) represents the average premium/(discount) at which the ETF traded over its NAV over the last one year. Tracking Error
represents the difference in returns of the ETF when compared with that of the benchmark/index it replicates. Liquidity classification is based on average daily trading volume (ADTV). ETFs with ADTV in excess of `1
crore have been classified as having “High” liquidity, those between `10 lakh and `1 crore as having “Moderate” liquidity and those with less than `10 lakh as having “Low” liquidity.

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 SCOREBOARD

Performance snapshot
Here are the performance data of the Indian mutual fund industry as of October 2024
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 10 yrs
Equity: Large Cap -7.01 -3.95 36.92 14.20 17.10 12.29 14.65 -6.96 -3.82 37.80 14.79 17.67 13.09
Equity: Large & MidCap -5.69 -2.29 41.50 17.59 21.38 15.05 17.27 -5.61 -2.04 42.78 18.92 22.66 16.17
Equity: Flexi Cap -5.61 -2.01 36.87 15.15 18.18 13.92 16.54 -5.48 -1.68 38.46 16.44 19.43 14.98
Equity: Mid Cap -6.05 -3.41 45.30 21.37 26.23 17.42 18.72 -5.86 -2.91 47.09 22.52 27.48 18.67
Equity: Multi Cap -5.23 -1.30 41.51 19.16 — — — -5.10 -0.97 43.35 20.70 — —
Equity: Small Cap -3.27 0.12 45.37 22.96 31.10 18.82 — -3.16 0.46 46.81 24.45 32.68 20.02
Equity: Value Oriented -5.61 -3.41 43.99 19.51 22.60 15.45 18.60 -5.44 -2.97 45.82 21.14 24.23 16.52
Equity: ELSS -5.40 -2.18 37.95 16.23 19.65 14.33 16.41 -5.34 -1.96 39.47 17.51 20.99 15.42
Equity: Thematic-ESG -6.33 -2.33 34.30 12.47 16.77 12.82 16.70 -6.19 -1.99 36.30 13.99 17.69 13.68
Equity: International -1.74 4.64 31.58 5.50 9.67 7.56 — -1.71 4.12 31.83 5.77 10.34 8.49
BSE Sensex TRI -5.70 -2.57 25.86 11.59 15.99 12.43 15.65 -5.70 -2.57 25.86 11.59 15.99 12.43
BSE Sensex Next 50 TRI -8.36 -5.09 48.90 20.95 22.47 14.88 — -8.36 -5.09 48.90 20.95 22.47 14.88
BSE 500 TRI -6.45 -3.58 35.90 15.64 19.83 14.34 16.02 -6.45 -3.58 35.90 15.64 19.83 14.34
BSE Large Cap TRI -6.70 -3.58 31.38 12.99 17.01 12.79 — -6.70 -3.58 31.38 12.99 17.01 12.79
BSE Mid Cap TRI -6.85 -5.30 48.62 23.39 26.71 17.96 17.24 -6.85 -5.30 48.62 23.39 26.71 17.96
BSE Small Cap TRI -3.75 -0.42 49.85 26.15 33.39 18.53 19.07 -3.75 -0.42 49.85 26.15 33.39 18.53
Equity: Sectoral-Banking -3.22 -0.46 24.84 12.99 13.56 11.72 17.40 -3.36 1.15 28.13 14.14 14.98 14.24
BSE Bankex TRI -2.29 -0.14 22.19 10.40 12.19 12.31 17.48 -2.29 -0.14 22.19 10.40 12.19 12.31
Equity: Sectoral-Infrastructure -6.08 -5.89 53.00 27.56 27.38 16.10 17.29 -5.82 -5.55 55.37 29.12 28.82 17.47
BSE India Infrastructure TRI -8.67 -13.10 75.93 36.87 31.99 16.00 — -8.67 -13.10 75.93 36.87 31.99 16.00
Equity: Sectoral-Pharma -1.13 7.07 57.23 19.93 28.09 14.32 17.84 -0.76 7.95 59.07 21.62 29.72 15.47
BSE Healthcare TRI -0.72 8.56 61.91 21.34 27.91 12.52 15.90 -0.72 8.56 61.91 21.34 27.91 12.52
Equity: Sectoral-Technology -3.61 -0.65 36.57 9.05 27.29 17.43 17.49 -3.73 -0.48 38.94 12.42 28.75 18.52
BSE IT TRI -4.04 -2.50 32.74 8.60 23.64 16.45 17.15 -4.04 -2.50 32.74 8.60 23.64 16.45
Hybrid: Aggressive Hybrid -4.00 -1.08 30.34 13.49 16.21 12.21 14.37 -3.90 -0.78 31.90 14.84 17.55 13.29
Hybrid: Balanced Hybrid -2.30 0.45 21.38 9.91 11.35 9.23 10.45 -2.22 0.68 22.46 10.54 11.99 9.83
Hybrid: Conservative Hybrid -1.02 1.17 14.50 8.30 8.74 8.07 9.17 -0.95 1.40 15.51 9.27 9.77 9.05
VR Balanced TRI -6.70 -2.20 26.12 11.65 15.15 11.80 13.40 -6.70 -2.20 26.12 11.65 15.15 11.80
VR MIP TRI -3.36 -0.11 17.19 8.80 9.88 8.89 8.93 -3.36 -0.11 17.19 8.80 9.88 8.89
Debt: Long Duration -0.32 2.52 12.51 6.40 6.46 7.55 7.71 -0.28 2.64 13.08 6.85 6.91 8.28
Debt: Medium Duration 0.46 2.19 8.61 6.06 5.93 7.13 6.86 0.51 2.35 9.31 6.77 6.66 7.90
Debt: Short Duration 0.44 1.94 7.94 5.82 6.08 6.78 7.43 0.50 2.11 8.64 6.54 6.82 7.51
Debt: Ultra Short Duration 0.59 1.73 7.08 5.82 5.33 6.16 6.63 0.64 1.86 7.64 6.36 5.88 6.67
Debt: Liquid 0.56 1.69 7.15 6.05 5.10 6.22 6.86 0.59 1.76 7.41 6.23 5.28 6.37
Debt: Dynamic Bond -0.06 2.21 9.44 5.87 6.24 7.22 7.09 0.00 2.39 10.19 6.61 6.96 7.96
Debt: Corporate Bond 0.48 2.12 8.26 5.74 6.33 7.19 6.76 0.51 2.23 8.68 6.15 6.74 7.67
Debt: Credit Risk 0.74 2.24 8.26 8.96 6.53 6.51 — 0.81 2.44 9.09 9.80 7.35 7.39
CCIL All Sovereign Bond - TRI -0.13 2.76 12.87 7.12 7.27 8.46 7.63 -0.13 2.76 12.87 7.12 7.27 8.46
CCIL T Bill Liquidity Weight 0.37 1.23 4.90 3.80 3.35 3.96 4.25 0.37 1.23 4.90 3.80 3.35 3.96
VR Bond 0.30 2.12 9.31 6.18 5.72 6.60 6.53 0.30 2.12 9.31 6.18 5.72 6.60
Category averages, including ETFs and index funds. Returns data (%) for regular and direct plans as of October 31, 2024.

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TOP-RATED FUNDS
EQUITY DIRECT (91/268)
EQUITY: LARGE CAP Quant Large & Mid Cap Dir  Motilal Oswal Midcap Dir 
ABSL Nifty 50 Equal Weight Index Dir  SBI Large & Midcap Dir  Nippon India Growth Dir 
Bandhan Large Cap Dir  UTI Large & Mid Cap Dir  Quant Mid Cap Dir 
Baroda BNP Paribas Large Cap Dir  EQUITY: FLEXI CAP EQUITY: SMALL CAP
Canara Robeco Bluechip Equity Dir  360 ONE Focused Equity Dir  Bank of Ind Small Cap Dir 
DSP Nifty 50 Equal Weight Index Dir  Bank of Ind Flexi Cap Dir  Canara Robeco Small Cap Dir 
DSP Nifty Next 50 Index Dir  Baroda BNP Paribas Focused Dir  Edelweiss Small Cap Dir 
Edelweiss Large Cap Dir  Canara Robeco Focused Equity Dir  Invesco India Smallcap Dir 
HDFC NIFTY50 Equal Weight Index Dir  Edelweiss Flexi Cap Dir  Nippon India Small Cap Dir 
HDFC Top 100 Dir  Franklin India Flexi Cap Dir  Quant Small Cap Dir 
ICICI Pru Bharat 22 FOF Dir  Franklin India Focused Equity Dir  Tata Small Cap Dir 
ICICI Pru Bluechip Dir  HDFC Flexi Cap Dir  EQUITY: VALUE ORIENTED
ICICI Pru Nifty Alpha Low Volatility 30 ETF FOF Dir HDFC Focused 30 Dir  Bandhan Sterling Value Dir 
 HDFC Retirement Savings Equity Dir  Canara Robeco Value Fund Dir 
Invesco India Largecap Dir  HSBC Flexi Cap Dir  HSBC Value Dir 
JM Large Cap Dir  ICICI Pru Flexicap Dir  ICICI Pru Value Discovery Dir 
Kotak Bluechip Dir  ICICI Pru Focused Equity Dir  JM Value Dir 
Kotak Nifty Next 50 Index Fund Dir  ICICI Pru India Equity FOF Dir  Kotak India EQ Contra Dir 
LIC MF Nifty Next 50 Index Dir  ICICI Pru Passive Strategy (FOF) Dir  SBI Contra Dir 
Motilal Oswal Nifty Next 50 Index Fund Dir  ICICI Pru Retirement Pure Equity Dir  Templeton India Value Dir 
Nippon India Large Cap Dir  Invesco India Focused Dir  EQUITY: ELSS
Nippon India Nifty Next 50 Junior BeES FoF Dir  JM Flexicap Dir  Bandhan ELSS Tax Saver Dir 
Quant Focused Dir  Kotak Focused Equity Dir  Bank of India ELSS Tax Saver Fund Dir 
SBI Nifty Next 50 Index Fund Dir  Mahindra Manulife Focused Dir  DSP ELSS Tax Saver Dir 
Sundaram Nifty 100 Equal Weight Dir  Nippon India Flexi Cap Dir  Franklin India ELSS Tax Saver Dir 
UTI Nifty Next 50 Index Dir  Parag Parikh Flexi Cap Dir  HDFC ELSS Tax Saver Dir 
UTI Nifty200 Momentum 30 Index Fund Dir  SBI Retirement Benefit Aggressive Dir  ITI ELSS Tax Saver Dir 
EQUITY: LARGE & MID CAP Union Flexi Cap Dir  JM ELSS Tax Saver Dir 
Bandhan Core Equity Dir  EQUITY: MID CAP Kotak ELSS Tax Saver Dir 
HDFC Large and Mid Cap Dir  Edelweiss Mid Cap Dir  Motilal Oswal ELSS Tax Saver Dir 
ICICI Pru Large & Mid Cap Dir  HDFC Mid-Cap Opp Dir  Parag Parikh ELSS Tax Saver Dir 
Kotak Equity Opportunities Dir  Kotak Emerging Equity Dir  Quant ELSS Tax Saver Dir 
Motilal Oswal Large and Midcap Dir  Mahindra Manulife Mid Cap Dir  SBI Long Term Equity Dir 
RATING DOWNGRADE List of funds that moved out of the five- and four-star grades in October 2024
Mirae Asset Equity Allocator FoF Dir UTI Focused Dir

HYBRID DIRECT (33/95)

HYBRID: AGGRESSIVE HYBRID Quant Absolute Dir  Parag Parikh Conservative Hybrid Dir 
Bank of Ind Mid & Small Cap Eqt & Debt Dir  SBI Magnum Children’s Benefit Investment Dir  SBI Conservative Hybrid Dir 
Baroda BNP Paribas Agrssv Hybrid Dir  SBI Retirement Benefit Aggressive Hybrid Dir  SBI Magnum Children’s Benefit Savings Dir 
Edelweiss Aggressive Hybrid Dir  UTI Aggressive Hybrid Dir  SBI Retirement Benefit Conservative Hybrid Dir 
HDFC Children’s Gift Dir  HYBRID: CONSERVATIVE HYBRID HYBRID: EQUITY SAVINGS
HDFC Retirement Savings Hybrid Equity Dir  Bank of India Conservative Hybrid Dir  Edelweiss Equity Savings Dir 
ICICI Pru Child Care Gift Dir  Canara Robeco Conservative Hybrid Dir  HSBC Equity Savings Dir 
ICICI Pru Equity & Debt Dir  HDFC Hybrid Debt Dir  ICICI Pru Equity Savings Dir 
ICICI Pru Retirement Hybrid Aggressive Dir  HDFC Retirement Savings Hybrid Debt Dir  Kotak Equity Savings Dir 
JM Aggressive Hybrid Dir  ICICI Pru Income Optimizer (FOF) Dir  Mirae Asset Equity Savings Dir 
Kotak Equity Hybrid Dir  ICICI Pru Regular Savings Dir  Sundaram Equity Savings Dir 
Mahindra Manulife Aggressive Hybrid Dir  Kotak Debt Hybrid Dir  UTI Equity Savings Dir 
RATING DOWNGRADE List of funds that moved out of the five- and four-star grades in October 2024

Funds suspended for sale have been excluded

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 EQUITY REGULAR (86/268)
EQUITY: LARGE CAP Kotak Equity Opportunities Reg  Motilal Oswal Midcap Reg 
ABSL Nifty 50 Equal Weight Index Reg  Motilal Oswal Large and Midcap Reg  Nippon India Growth Reg 
Baroda BNP Paribas Large Cap Reg  Quant Large & Mid Cap Reg  Quant Mid Cap Reg 
Canara Robeco Bluechip Equity Reg  SBI Large & Midcap Reg  SBI Magnum Midcap Reg 
DSP Nifty 50 Equal Weight Index Reg  UTI Large & Mid Cap Reg  EQUITY: SMALL CAP
DSP Nifty Next 50 Index Reg  EQUITY: FLEXI CAP Bank of Ind Small Cap Reg 
Edelweiss Large Cap Reg  360 ONE Focused Equity Reg  Canara Robeco Small Cap Reg 
HDFC NIFTY50 Equal Weight Index Reg  Bank of Ind Flexi Cap Reg  Edelweiss Small Cap Reg 
HDFC Top 100 Reg  Canara Robeco Focused Equity Reg  Invesco India Smallcap Reg 
HSBC Nifty Next 50 Index Reg  Edelweiss Flexi Cap Reg  Nippon India Small Cap Reg 
ICICI Pru Bharat 22 FOF  Franklin India Flexi Cap Reg  Quant Small Cap Reg 
ICICI Pru Bluechip  Franklin India Focused Equity Reg  Tata Small Cap Reg 
ICICI Pru Nifty Alpha Low Volatility 30 ETF FOF  HDFC Flexi Cap Reg  EQUITY: VALUE ORIENTED
ICICI Pru Nifty Next 50 Index  HDFC Focused 30 Reg  Bandhan Sterling Value Reg 
Invesco India Largecap Reg  HDFC Retirement Savings Equity Reg  Canara Robeco Value Fund Reg 
JM Large Cap Reg  HSBC Flexi Cap Reg  HSBC Value Reg 
Kotak Nifty Next 50 Index Fund Reg  ICICI Pru Flexicap  ICICI Pru Value Discovery 
LIC MF Nifty Next 50 Index Reg  ICICI Pru Focused Equity  JM Value Reg 
Mirae Asset Equity Allocator FoF Reg  ICICI Pru India Equity FOF  SBI Contra Reg 
Motilal Oswal Nifty Next 50 Index Fund Reg  ICICI Pru Passive Strategy (FOF)  Templeton India Value Reg 
Nippon India Large Cap Reg  ICICI Pru Retirement Pure Equity  EQUITY: ELSS
Nippon India Nifty Next 50 Junior BeES FoF Reg  Invesco India Focused Reg  Bank of India ELSS Tax Saver Reg 
Quant Focused Reg  JM Flexicap Reg  DSP ELSS Tax Saver Reg 
SBI Nifty Next 50 Index Fund Reg  Mahindra Manulife Focused Reg  Franklin India ELSS Tax Saver Reg 
Sundaram Nifty 100 Equal Weight Reg  Parag Parikh Flexi Cap Reg  HDFC ELSS Tax Saver Reg 
UTI Nifty Next 50 Index Reg  SBI Retirement Benefit Aggressive Reg  JM ELSS Tax Saver Reg 
UTI Nifty200 Momentum 30 Index Fund Reg  Union Flexi Cap Reg  Kotak ELSS Tax Saver Reg 
EQUITY: LARGE & MIDCAP EQUITY: MID CAP Motilal Oswal ELSS Tax Saver Reg 
Bandhan Core Equity Reg  Edelweiss Mid Cap Reg  Parag Parikh ELSS Tax Saver Reg 
HDFC Large and Mid Cap Reg  HDFC Mid-Cap Opp Reg  Quant ELSS Tax Saver Reg 
ICICI Pru Large & Mid Cap  Kotak Emerging Equity Reg  SBI Long Term Equity Reg 

RATING DOWNGRADE List of funds that moved out of the five- and four-star grades in October 2024
JM Focused Reg Union ELSS Tax Saver Reg

HYBRID REGULAR (33/95)

HYBRID: AGGRESSIVE HYBRID Quant Absolute Reg  SBI Conservative Hybrid Reg 
Bank of Ind Mid & Small Cap Eqt & Debt Reg  SBI Magnum Children’s Benefit Investment Reg  SBI Magnum Children’s Benefit Savings Reg 
Baroda BNP Paribas Agrssv Hybrid Reg  SBI Retirement Benefit Aggressive Hybrid Reg  SBI Retirement Benefit Conservative Hybrid Reg 
Edelweiss Aggressive Hybrid Reg  UTI Aggressive Hybrid  UTI Conservative Hybrid Reg 
HDFC Children’s Gift Reg  HYBRID: CONSERVATIVE HYBRID HYBRID: EQUITY SAVINGS
HDFC Retirement Savings Hybrid Equity Reg  Bank of India Conservative Hybrid Reg  Edelweiss Equity Savings Reg 
ICICI Pru Child Care Gift  HDFC Hybrid Debt Reg  HSBC Equity Savings Reg 
ICICI Pru Equity & Debt  HDFC Retirement Savings Hybrid Debt Reg  ICICI Pru Equity Savings 
ICICI Pru Retirement Hybrid Aggressive  ICICI Pru Income Optimizer (FOF)  Kotak Equity Savings Reg 
JM Aggressive Hybrid Reg  ICICI Pru Regular Savings Reg  Mirae Asset Equity Savings Reg 
Kotak Equity Hybrid Reg  Kotak Debt Hybrid Reg  SBI Equity Savings Reg 
Mahindra Manulife Aggressive Hybrid Reg  Parag Parikh Conservative Hybrid Reg  UTI Equity Savings Reg 

RATING DOWNGRADE List of funds that moved out of the five- and four-star grades in October 2024

Funds suspended for sale have been excluded.

mutual fund ratings are revised every month. The above ratings are as of October 31, 2024. For rating methodology, refer to Scoreboard Guide.

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 SCOREBOARD

SIP returns of `10,000 per month 5 years 10 years 5 years 10 years

Returns Value Returns Value Returns Value Returns Value
Scheme Name | Category (%) (` lakh) (%) (` lakh) Scheme Name | Category (%) (` lakh) (%) (` lakh)
Quant Small Cap | Small Cap 46.26 18.26 28.81 55.48 SBI Long Term Equity | ELSS 30.81 12.79 20.09 34.61
Nippon India Small Cap | Small Cap 40.22 15.92 27.47 51.60 DSP ELSS Tax Saver | ELSS 27.10 11.71 20.08 34.61
Quant ELSS Tax Saver Fund | ELSS 33.74 13.70 26.04 47.75 Invesco India Large & Mid Cap | Large & MidCap 27.73 11.89 20.04 34.52
Motilal Oswal Midcap | Mid Cap 40.67 16.08 25.45 46.26 ICICI Pru Focused Equity | Flexi Cap 28.84 12.21 19.91 34.28
Quant Mid Cap | Mid Cap 35.73 14.35 24.92 44.96 Franklin India Prima | Mid Cap 29.24 12.32 19.87 34.20
HSBC Small Cap | Small Cap 37.29 14.88 24.70 44.42 Sundaram Midcap | Mid Cap 31.28 12.93 19.86 34.19
Quant Flexi Cap | Flexi Cap 33.72 13.69 24.68 44.38 Quant Focused | Large Cap 27.03 11.69 19.79 34.06
Kotak Small Cap | Small Cap 33.61 13.66 24.18 43.19 Kotak Equity Opportunities | Large & MidCap 26.27 11.48 19.77 34.03
Axis Small Cap | Small Cap 31.14 12.89 24.13 43.07 Templeton India Value | Value Oriented 30.45 12.68 19.77 34.02
Edelweiss Mid Cap | Mid Cap 35.11 14.14 24.10 43.02 HDFC Focused 30 | Flexi Cap 31.01 12.85 19.64 33.78
SBI Small Cap | Small Cap 30.11 12.58 23.80 42.32 Baroda BNP Paribas Multi Cap | Multi Cap 28.58 12.13 19.61 33.74
HDFC Small Cap | Small Cap 34.76 14.03 23.57 41.79 Edelweiss Large & Mid Cap | Large & MidCap 26.40 11.52 19.61 33.73
Quant Active | Multi Cap 29.57 12.42 23.44 41.50 DSP Equity Opportunities | Large & MidCap 26.78 11.62 19.53 33.59
Nippon India Growth | Mid Cap 34.27 13.87 23.38 41.36 Tata Equity PE | Value Oriented 27.79 11.91 19.47 33.48
Invesco India Mid Cap | Mid Cap 32.16 13.20 23.01 40.55 Invesco India Multicap | Multi Cap 27.55 11.84 19.46 33.47
Kotak Emerging Equity | Mid Cap 31.42 12.97 22.83 40.15 HDFC Large and Mid Cap | Large & MidCap 28.98 12.25 19.42 33.38
JM Flexicap | Flexi Cap 32.91 13.44 22.73 39.92 ICICI Pru Multicap | Multi Cap 28.17 12.01 19.41 33.37
HDFC Mid-Cap Opportunities | Mid Cap 33.84 13.73 22.71 39.88 UTI Mid Cap | Mid Cap 27.29 11.77 19.35 33.27
Franklin India Smaller Companies | Small Cap 35.84 14.39 22.38 39.18 ICICI Pru Equity & Debt | Aggressive Hybrid 26.20 11.46 19.31 33.19
JM Value | Value Oriented 32.88 13.42 22.29 39.00 Canara Robeco Emerging Equities | Large & MidCap 24.16 10.91 19.26 33.10
DSP Small Cap | Small Cap 33.00 13.46 22.23 38.86 Bandhan ELSS Tax Saver | ELSS 25.72 11.33 19.17 32.94
ICICI Pru Smallcap | Small Cap 32.57 13.33 22.15 38.70 UTI Large & Mid Cap | Large & MidCap 29.46 12.39 19.06 32.74
SBI Contra | Value Oriented 33.46 13.61 21.99 38.36 Kotak ELSS Tax Saver | ELSS 24.70 11.06 18.87 32.42
Quant Large & Mid Cap | Large & MidCap 30.52 12.70 21.87 38.12 Canara Robeco ELSS Tax Saver | ELSS 23.23 10.67 18.80 32.28
Union Small Cap | Small Cap 31.82 13.10 21.51 37.39 SBI Large & Midcap | Large & MidCap 25.49 11.27 18.78 32.26
Parag Parikh Flexi Cap | Flexi Cap 26.52 11.54 21.50 37.35 Sundaram Multi Cap | Multi Cap 25.60 11.30 18.77 32.23
Bank of India ELSS Tax Saver | ELSS 28.10 11.99 21.50 37.36 ABSL Mid Cap | Mid Cap 28.92 12.23 18.76 32.22
Tata Midcap Growth | Mid Cap 29.61 12.43 21.20 36.76 JM Aggressive Hybrid | Aggressive Hybrid 29.20 12.31 18.67 32.07
Baroda BNP Paribas Midcap | Mid Cap 29.92 12.52 21.14 36.63 Franklin India Flexi Cap | Flexi Cap 26.92 11.66 18.66 32.05
PGIM India Midcap Opportunities | Mid Cap 27.15 11.72 21.06 36.49 Taurus Mid Cap | Mid Cap 24.51 11.01 18.62 31.97
HSBC Value | Value Oriented 31.22 12.91 21.03 36.41 DSP Midcap | Mid Cap 24.29 10.95 18.53 31.83
Axis Midcap | Mid Cap 26.00 11.41 21.02 36.40 Nippon India Large Cap | Large Cap 26.38 11.51 18.52 31.80
Nippon India Multi Cap | Multi Cap 33.09 13.49 20.98 36.32 ABSL Small Cap | Small Cap 29.07 12.27 18.34 31.50
Kotak India EQ Contra | Value Oriented 28.51 12.11 20.91 36.19 UTI Value | Value Oriented 25.72 11.33 18.32 31.47
HSBC Midcap | Mid Cap 30.44 12.68 20.80 35.97 DSP Flexi Cap | Flexi Cap 23.63 10.78 18.31 31.44
Nippon India Value | Value Oriented 30.39 12.66 20.79 35.94 Tata ELSS Tax Saver | ELSS 23.80 10.82 18.21 31.27
Bandhan Core Equity | Large & MidCap 30.41 12.67 20.69 35.76 Franklin India Focused Equity | Flexi Cap 24.86 11.10 18.21 31.27
Invesco India Contra | Value Oriented 27.80 11.91 20.65 35.68 Sundaram Large & Midcap | Large & MidCap 23.78 10.82 18.18 31.22
Bandhan Sterling Value | Value Oriented 30.67 12.75 20.58 35.55 HDFC Capital Builder Value | Value Oriented 26.39 11.51 18.17 31.21
JM ELSS Tax Saver | ELSS 28.15 12.01 20.57 35.53 Invesco India ELSS Tax Saver | ELSS 23.65 10.78 18.15 31.18
360 ONE Focused Equity | Flexi Cap 24.31 10.95 20.31 35.03 Tata Large & Midcap | Large & MidCap 23.79 10.82 18.08 31.06
SBI Magnum Midcap | Mid Cap 29.54 12.41 20.31 35.03 Franklin India ELSS Tax Saver | ELSS 26.55 11.56 18.04 30.99
ICICI Pru Value Discovery | Value Oriented 29.79 12.47 20.28 34.96 HDFC ELSS Tax Saver | ELSS 27.96 11.95 18.02 30.96
Sundaram Small Cap | Small Cap 32.95 13.45 20.26 34.93 ICICI Pru Bluechip | Large Cap 23.87 10.84 17.79 30.58
ICICI Pru Midcap | Mid Cap 29.86 12.51 20.25 34.91 JM Focused | Flexi Cap 25.13 11.17 17.59 30.25
Mirae Asset Large & Midcap | Large & MidCap 23.33 10.70 20.21 34.83 HSBC Flexi Cap | Flexi Cap 25.73 11.33 17.57 30.22
HDFC Flexi Cap | Flexi Cap 29.92 12.52 20.18 34.78 Canara Robeco Flexi Cap | Flexi Cap 21.46 10.23 17.56 30.20
ICICI Pru Large & Mid Cap | Large & MidCap 29.33 12.35 20.11 34.66 Canara Robeco Bluechip Equity | Large Cap 20.86 10.08 17.55 30.18
Quant Absolute | Aggressive Hybrid 25.18 11.18 20.10 34.63 ABSL Pure Value | Value Oriented 28.69 12.16 17.52 30.13
Data for direct plans as of October 2024. Funds with less than 10-year history have been excluded.

104 Mutual Fund Insight December 2024

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 5 years 10 years 5 years 10 years
Returns Value Returns Value Returns Value Returns Value
Scheme Name | Category (%) (` lakh) (%) (` lakh) Scheme Name | Category (%) (` lakh) (%) (` lakh)
Baroda BNP Paribas Large Cap | Large Cap 22.67 10.53 17.39 29.91 Tata Young Citizens | Flexi Cap 21.17 10.15 15.49 27.02
Nippon India Vision | Large & MidCap 26.55 11.56 17.32 29.81 ICICI Pru Child Care Gift | Aggressive Hybrid 21.45 10.22 15.40 26.88
HSBC ELSS Tax Saver | ELSS 25.03 11.15 17.30 29.78 Nippon India ELSS Tax Saver | ELSS 25.13 11.17 15.35 26.81
Sundaram Focused | Flexi Cap 21.65 10.27 17.28 29.75 DSP Top 100 Equity | Large Cap 21.83 10.32 15.34 26.79
Nippon India Focused Equity | Flexi Cap 23.20 10.67 17.28 29.74 Franklin India Equity Hybrid | Aggressive Hybrid 20.02 9.88 15.16 26.54
Invesco India Largecap | Large Cap 22.70 10.54 17.17 29.57 Sundaram Aggressive Hybrid | Aggressive Hybrid 18.76 9.58 15.12 26.48
SBI Focused Equity | Flexi Cap 20.00 9.87 17.14 29.52 Bandhan Nifty 50 Index | Large Cap 18.40 9.49 15.01 26.33
Tata Retirement Savings Progressive | Flexi Cap 21.67 10.28 17.12 29.50 Motilal Oswal Focused | Flexi Cap 18.13 9.43 14.99 26.29
Edelweiss Aggressive Hybrid | Aggressive Hybrid 23.32 10.70 17.12 29.49 UTI Flexi Cap | Flexi Cap 16.59 9.08 14.95 26.25
Baroda BNP Paribas ELSS Tax Saver | ELSS 23.28 10.69 17.11 29.47 HSBC Managed Solutions India Growth | Agg. Hybrid 20.02 9.88 14.95 26.24
Bank of India Large & Mid Cap Equity | Large & MidCap 24.04 10.88 17.11 29.47 UTI Nifty 50 Index | Large Cap 18.35 9.48 14.94 26.22
ABSL Flexi Cap | Flexi Cap 22.44 10.47 17.11 29.47 UTI Large Cap | Large Cap 18.26 9.46 14.90 26.17
ICICI Pru Nifty Next 50 Index | Large Cap 24.94 11.12 17.08 29.42 HDFC Index Nifty 50 | Large Cap 18.30 9.47 14.88 26.14
Motilal Oswal Flexi Cap | Flexi Cap 25.23 11.20 17.07 29.42 Groww Large Cap | Large Cap 19.20 9.68 14.87 26.13
Edelweiss Large Cap | Large Cap 22.04 10.37 17.06 29.40 Axis ELSS Tax Saver | ELSS 16.90 9.15 14.87 26.12
Kotak Equity Hybrid | Aggressive Hybrid 22.16 10.40 17.04 29.36 Tata Nifty 50 Index | Large Cap 18.26 9.46 14.85 26.10
LIC MF Nifty Next 50 Index | Large Cap 24.87 11.10 17.04 29.36 ABSL Equity Advantage | Large & MidCap 19.16 9.67 14.83 26.07
Bandhan Focused Equity | Flexi Cap 23.65 10.78 17.02 29.32 ICICI Pru Nifty 50 Index | Large Cap 18.30 9.47 14.82 26.06
HDFC Children’s Gift | Aggressive Hybrid 21.90 10.34 17.01 29.31 Nippon India Index Nifty 50 | Large Cap 18.29 9.47 14.81 26.04
Union ELSS Tax Saver | ELSS 23.08 10.63 16.98 29.26 SBI Nifty Index | Large Cap 18.31 9.47 14.79 26.02
Union Flexi Cap | Flexi Cap 22.38 10.46 16.97 29.26 Axis Bluechip | Large Cap 15.35 8.81 14.75 25.97
Edelweiss ELSS Tax Saver | ELSS 23.49 10.74 16.90 29.14 HDFC Index Fund-BSE Sensex Plan | Large Cap 17.34 9.25 14.75 25.95
ICICI Pru ELSS Tax Saver | ELSS 22.59 10.51 16.86 29.08 Nippon India Index BSE Sensex | Large Cap 17.37 9.26 14.72 25.92
Kotak Flexicap | Flexi Cap 21.03 10.12 16.67 28.78 Tata BSE Sensex Index | Large Cap 17.11 9.20 14.60 25.75
Kotak Bluechip | Large Cap 21.20 10.16 16.65 28.75 ABSL Nifty 50 Index | Large Cap 18.20 9.45 14.57 25.72
Taurus ELSS Tax Saver | ELSS 22.23 10.42 16.61 28.68 Franklin India NSE Nifty 50 Index | Large Cap 18.16 9.44 14.57 25.72
HDFC Top 100 | Large Cap 23.09 10.64 16.59 28.65 LIC MF Nifty 50 Index | Large Cap 18.16 9.44 14.57 25.71
Sundaram ELSS Tax Saver | ELSS 21.81 10.31 16.49 28.51 Taurus Nifty 50 Index | Large Cap 17.67 9.33 14.56 25.70
Bandhan Large Cap | Large Cap 21.60 10.26 16.38 28.33 Bandhan Flexi Cap | Flexi Cap 20.38 9.96 14.55 25.69
ABSL Focused | Flexi Cap 21.67 10.28 16.33 28.27 Franklin India Bluechip | Large Cap 19.57 9.77 14.45 25.55
LIC MF ELSS Tax Saver | ELSS 21.77 10.30 16.29 28.20 LIC MF BSE Sensex Index | Large Cap 17.15 9.21 14.41 25.49
ICICI Pru Passive Strategy (FOF) | Flexi Cap 22.49 10.48 16.17 28.01 HSBC Aggressive Hybrid | Aggressive Hybrid 19.16 9.67 14.31 25.35
DSP Focus | Flexi Cap 22.47 10.48 16.14 27.98 LIC MF Flexi Cap | Flexi Cap 20.20 9.92 14.26 25.28
JM Large Cap | Large Cap 22.43 10.47 16.09 27.90 LIC MF Large Cap | Large Cap 17.41 9.27 14.18 25.18
Quantum ELSS Tax Saver | ELSS 23.92 10.85 16.04 27.83 Axis Focused | Flexi Cap 14.40 8.61 14.03 24.98
UTI ELSS Tax Saver | ELSS 20.55 10.00 16.03 27.82 SBI Equity Hybrid | Aggressive Hybrid 16.25 9.01 14.03 24.97
Quantum Long Term Equity Value | Value Oriented 23.93 10.86 16.00 27.76 HDFC Hybrid Equity | Aggressive Hybrid 18.35 9.48 13.82 24.70
UTI Aggressive Hybrid | Aggressive Hybrid 22.69 10.54 15.90 27.62 PGIM India Large Cap | Large Cap 16.76 9.12 13.75 24.60
HSBC Large Cap | Large Cap 20.66 10.03 15.90 27.61 Tata Hybrid Equity | Aggressive Hybrid 18.20 9.45 13.68 24.51
Tata Large Cap | Large Cap 21.20 10.16 15.89 27.60 Nippon India Equity Hybrid | Aggressive Hybrid 20.42 9.97 13.37 24.11
DSP Equity & Bond | Aggressive Hybrid 19.93 9.85 15.84 27.53 ABSL ELSS Tax Saver | ELSS 16.78 9.13 13.22 23.92
SBI Flexicap | Flexi Cap 19.64 9.78 15.84 27.52 Taurus Large Cap | Large Cap 19.12 9.66 13.21 23.90
Sundaram Nifty 100 Equal Weight | Large Cap 23.22 10.67 15.83 27.51 ABSL Equity Hybrid ‘95 | Aggressive Hybrid 17.66 9.32 13.20 23.89
ABSL Frontline Equity | Large Cap 21.25 10.17 15.81 27.48 Taurus Flexi Cap | Flexi Cap 19.90 9.85 13.05 23.70
SBI Bluechip | Large Cap 20.28 9.94 15.77 27.42 Shriram Aggressive Hybrid | Aggressive Hybrid 16.42 9.04 12.87 23.47
Mirae Asset Large Cap | Large Cap 18.43 9.50 15.76 27.41 LIC MF ULIS | Aggressive Hybrid 15.70 8.89 12.72 23.29
UTI Children’s Equity | Flexi Cap 20.10 9.89 15.76 27.41 Bandhan Asset Allocation Aggressive | Agg. Hybrid 17.05 9.19 12.51 23.03
Canara Robeco Equity Hybrid | Aggressive Hybrid 18.71 9.57 15.71 27.33 LIC MF Aggressive Hybrid | Aggressive Hybrid 16.52 9.07 12.50 23.02
Franklin India Equity Advantage | Large & MidCap 22.78 10.56 15.70 27.33 LIC MF Children’s | Flexi Cap 16.52 9.07 12.08 22.51
Tata Retirement Savings Moderate | Aggressive Hybrid 19.77 9.81 15.70 27.32 PGIM India Hybrid Equity | Aggressive Hybrid 15.30 8.80 11.94 22.34
Quantum Equity FoF | Flexi Cap 20.98 10.11 15.50 27.03
Data for direct plans as of October 2024. Funds with less than 10-year history have been excluded.

Mutual Fund Insight December 2024 105

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 SCOREBOARD

The best and worst SIP returns

Worth of a monthly SIP of `10,000 across various time periods

`LHY
SIP value SIP value
SIP returns (%) SIP returns (%)
(` lakh) (` lakh)

Bandhan Small Cap 43.78 6.62 LIC MF ULIS 13.55 4.41

PGIM India
Motilal Oswal Midcap 42.35 6.50 13.61 4.41
Hybrid Equity
Motilal Oswal ELSS
37.89 6.14 Axis Focused 13.87 4.43
Tax Saver
Motilal Oswal Large
37.24 6.09 Axis Bluechip 14.23 4.45
and Midcap

ITI Small Cap 37.14 6.08 PGIM India Large Cap 14.32 4.45

`LHY
SIP value SIP value
SIP returns (%) SIP returns (%)
(` lakh) (` lakh)

Quant Small Cap 44.33 17.48 Axis Focused 13.24 8.36

PGIM India
Motilal Oswal Midcap 39.10 15.51 13.44 8.41
Hybrid Equity
Nippon India
39.02 15.48 Axis Children's 13.48 8.41
Small Cap

Tata Small Cap 36.75 14.69 Axis Bluechip 14.18 8.56

Bank of India Axis Aggressive

35.94 14.42 14.28 8.58
Small Cap Hybrid

`LHY
SIP value SIP value
SIP returns (%) SIP returns (%)
(` lakh) (` lakh)

PGIM India
Quant Small Cap 27.73 52.32 10.26 20.43
Hybrid Equity
Nippon India
26.37 48.63 LIC MF Children's 11.20 21.48
Small Cap
Quant ELSS LIC MF
24.54 44.04 11.29 21.58
Tax Saver Fund Aggressive Hybrid
Shriram
Motilal Oswal Midcap 24.11 43.03 11.37 21.67
Aggressive Hybrid

Quant Flexi Cap 23.55 41.74 LIC MF ULIS 11.69 22.04

All equity funds and aggressive hybrid funds except sectoral, thematic, international, ETFs, FoFs and solution-oriented funds. All data for regular plans as of October 31, 2024.

106 Mutual Fund Insight December 2024

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6HW6DLOZLWKWKH
Power of 3
With the right mix of assets,
steer through any market
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Presenting
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Nippon India Multi Asset Allocation Fund Scheme Riskometer AMFI Tier I Benchmark - 50% of S&P BSE 500
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Special Supplement December 2024

Complete Personal Finance Guide

How to become a
Crorepati A special supplement for readers

Powered by

An Investor Education & Awareness Initiative by quant Mutual Fund

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Subscription copy of [devathi108@gmail.com]. Redistribution prohibited.
 contents

4
How to do magic
with your savings
Saving small amounts every
month can do wonders for
your wealth

5 Why `1 crore?
By the time you reach retirement, the
amount may seem inadequate. Yet, it’s an
ideal starting point to build your wealth.

6 7 10
You’ll actually need more There’s no way but equity Why equity mutual funds?

With inflation levels While risky over short periods, over Unless you are willing to devote a lot of time
going through the 10, 20 or 30 years, it might be and effort to research, for most of us, the
roof, `1 crore will your best, or only bet, to create best way to invest in equities is through
not be enough long-lasting wealth equity mutual funds

12
So, what’s the plan?
13
With the advantages of The high cost of even
mutual funds clear, let’s a small delay
dive into how to get
started and make your 1 The earlier you start investing,

crore
the more wealth you can
dream of becoming a
accumulate
crorepati come true

Disclaimer: This report was originally created in the English language by Value Research India Pvt. Ltd.

How to become a Crorepati December 2024 3

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 AI-generated image

How to do magic with

your savings
Saving small amounts every month can do wonders for your wealth

F
or all but the top 1 per cent of right kind of investments and just as ‘pachaas hajjar’ (`50,000) on Gabbar
Indians, `1 crore is a huge sum. importantly, avoid the wrong ones. Singh’s head. Though `50,000 was
And why not? For a lot of us, But, before we get into the nitty-gritty quite a hefty sum at the time, today,
saving even a few thousand rupees of going about these steps, we should it seems almost negligible. And so it
every month seems like an uphill bat- tell you that the title of our story is a will be in the future. So, if you think
tle. So, hoping to accumulate `1 crore bit misleading. Though `1 crore may that it would be nice to have
in the future may seem to be an unat- seem to be a significant amount today, `1 crore when you retire, it’s highly
tainable goal at the moment. it won’t be the same 10 or 20 years likely that you will need three or
What if we tell you that not only is from now. four times that amount. However,
the `1 crore target within your reach, I am sure most of you must be such sums of money are well within
but only requires a few easy steps? All familiar with the iconic ‘Sholay’. reach if you invest the right way. To
you need do is start saving small Released in 1975, in the movie, the learn how, turn to the rest of the
amounts of money early, choose the ‘sarkar’ had put a bounty of pages and read the full story.

4 How to become a Crorepati December 2024

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Why `1 crore?
By the time you reach retirement, the amount may seem inadequate.
Yet, it’s an ideal starting point to build your wealth.

I
t looks like a huge problem – you
manage to save barely a few thou- Some expenses are rising faster than overall inflation
sand rupees every month, and yet Many of them are part of the key financial goals of most investors
when you retire – or even before that What it cost What it What it might cost
Expense in 2004 costs now in future (2034)
– you will need at least `1 crore to
School fees/month `3,000 `9,000-15,000 `16,000-27,000
secure your future. Can thousands
(public school in metro)
become crores? Can savings and
investments do such magic? Well yes! Higher education `3-4 lakh `10-15 lakh `18-27 lakh
(engineering degree)
If you follow some simple rules, the
thousands can become crores. Doctor’s consultation `300 `600-1,000 `1,100-1,800
The main ingredients you need are: charges (per visit)
z Time 1 litre of `35 `95 `170
z Choosing investments that can petrol
deliver consistent, inflation-
Above figures are indicative. Actual figures may vary. Future costs are accounted at 6% inflation.
beating returns.

How to become a Crorepati December 2024 5

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To get enough time, start now
Young people are often given a sim- Why you need to start saving without delay
ple advice by their elders: start sav- Even a low inflation rate of 6% will cause expenses to shoot up dramatically
ing some portion of your income. Monthly expenses at the age of 30 years 40 years 50 years 60 years
Unfortunately, these golden words
fall on deaf ears more often than not.
When you are young, it’s difficult to
imagine what life would look like
` ` ` `
30-35 years later. There is also peer 30,000 53,725 96,214 1.72 lakh
pressure to own the latest smart-
phone, wear fashionable brands and
buy the newest car model. It’s not
surprising then that EMIs become `30,000 a month on basic living inflation. But you will start feeling
more critical than SIPs (systematic expenses, even a low 6 per cent infla- the heat once you stop working, and
investment plans) in the first few tion will push their monthly expens- every day becomes a Sunday. Your
years of one’s career. Even then, es to `1.72 lakh by the time they income will stagnate, but expenses
starting your savings early is essen- retire at 60 (see above graphic). will keep growing every day.
tial if you want to live your later This rise in living costs is imper- Worse, costs such as medical care,
years comfortably and free of any ceptible to many because it happens which may be a fraction of your cur-
financial stress. gradually. It also doesn’t pinch too rent expenses, will account for a big-
Here’s an example to explain this much because incomes usually rise ger chunk of your monthly budget as
better: if a 30-year old spends around faster than the 6-7 per cent jump in you grow older.

You’ll actually need more

With inflation levels going through the roof, `1 crore won’t be enough

Given rising prices, how long will your retirement corpus last?
Assuming that inflation is a modest 6% and the retirement corpus earns 8% per annum, here is how those expenses will eat into your savings
z Retirement corpus z Years assuming `1.72 lakh per month withdrawal

`1 crore 5 years

`2 crore 10 years

` `

`3 crore 16 years

` ` `

`4 crore 23 years

` ` ` `

`5 crore 32 years

` ` ` ` `

Source: Value Research Withdrawals are inflation adjusted and will rise by 6% every year

6 How to become a Crorepati December 2024

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There’s no way but equity
While risky over short periods, over 10, 20 or 30 years, it might be your
best or only bet, to create long-lasting wealth

W
hile regular investments
are essential, knowing Invest right, retire rich
where to invest to achieve In 20 years, an average equity investor’s corpus is much bigger than that of a PPF investor
your goals is equally important. As
seen in the previous section, the
Value of `10,000 Principal Value of PPF Value of investment Additional returns
main enemy you must fight against is SIP started investment investment in the Sensex* of equity investor
rising prices to live your silver years 20 years ago
in comfort. (Figures in ` lakh)
24 57.9 94 36.1
Unfortunately, the weapon that
most Indians bring to this fight is not
PPF vs equity: Which returns more wealth?
enough. We tend to use fixed-income
options like PPF (Public Provident Here’s how much a monthly SIP of `10,000 invested across different assets will deliver
Fund) to build our retirement sav- `1,20,00,000 z Equity (Sensex)* z PPF z Total amount invested
ings. Yet, these earn very little over
1,00,00,000 Equity: `94 lakh
and above inflation. In fact, there are
periods when these deposits grow 80,00,000 PPF: `57.9 lakh
slower than the pace at which infla-
60,00,000
tion is surging. Here’s how. Let’s say
you deposit `10,000 in a PPF, and a 40,00,000

few years later, it increases to 20,00,000

`15,000. However, by then, things
0
that used to cost `10,000 earlier cost
2004 2024
`15,000 now. What have you gained?
*Based on the returns of Sensex Total Return Index
Nothing! You would have been better
off keeping that money as cash or in
a savings bank account. The truth is,
Had you invested `1 lakh to `4.9 lakh today. Yet, if the same
you wouldn’t have GAINED any- amount had been invested in the
thing. From a retirement perspective, in PPF 20 years ago, it equity markets (Sensex), it would
you are poorer! have earned you `14 lakh! And as
So, what’s the solution? The solu-
would have grown to just far as risks from inflation and meet-
tion is ‘equity’, or stocks. Given that `4.9 lakh today. Yet, if ing future expenses go, investing in
equities earn inflation-beating returns equities tends to reduce them over
in the long run, they are your best
you had invested the the long term. Paradoxically, a
bet to build wealth for a comfortable same in equities, it fixed-income option like PPF
future. Yet, many hesitate to invest in would leave you more exposed to
it. Reason? The widely-held notion
would have soared to as these risks over time.
that equities are risky. Culturally, we much as `14 lakh! So, why are you missing out on
Indians prefer to play safe and stick this golden opportunity? Perhaps
to low-risk options such as PPF and ties and have earned high, infla- you haven’t found the proper guid-
bank deposits. And yet, this is not tion-beating returns. For instance, if ance for investing in equities and
entirely true. There is a sizable you had invested `1 lakh in PPF are still under the misconception
chunk of Indians who invest in equi- 20 years back, it would have grown that ‘equity is risky.’

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 Experience finance
in a new way!
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 Invest Wisely, Grow Securely

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Why equity mutual funds?
Unless you are willing to devote a lot of time and effort to research, for
most of us, the best way to invest in equities is through equity mutual funds

D
ifferent cars suit different a less hands-on approach and thus, is AMCs (asset management
drivers. Those driving on ideal for majority of investors. companies). Each AMC operates
country roads prefer the rug- What are mutual funds? A mutual mulitple funds suited to different
gedness of SUVs, whilst city dwell- fund is a financial intermediary, set types of investment needs.
ers like the convenience of sedans. up with the goal of professionally For individual investors who
This principle also applies to inves- managing money pooled from a large don’t have much time to study and
tors – certain investors are better number of investors. By pooling research investments themselves
suited to mutual funds, while others money together in a mutual fund, mutual funds are a suitable option
may do better with stocks. Stock investors can enjoy economies of for reaping the benefits of different
investing requires more time and scale. Instead of each investor having types of investments with minimum
effort from investors. It’s ideal for to do their own investment research, effort and at a low entry point. In
those who know ins and outs of how a team of professionals does it on most funds, it is possible to start
the markets work. Mutual fund their behalf. Mutual funds are run by investing with as low as `100.
investing, on the other hand requires mutual fund companies, known as Further, unlike many other invest-

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 needs. No matter your financial
goals, time horizon and risk level,
there’s likely to be a variety of funds
available for all kinds of investors.

Convenience of process
A major advantage of investing in
mutual funds is convenience. You
can easily invest and withdraw from
mutual funds in any amount and at
any time (excluding ELSS or tax-sav-
ing funds). Investments in mutual
funds can be made by filling up a
simple form or online with a direct
debit from your bank account.
Similarly, redemptions can be
made directly to your bank account
and will take no more than a few
working days. But, if you wish to buy
enough stocks to have a diversified
set, you will need a lot of money.
With a mutual fund, however, you
can invest in multiple stocks with
minimal amounts. What’s more you
can invest more (or redeem) in
small batches.

A transparent and
well-regulated industry
Mutual funds are legally required to
Ease of diversification A transparent and provide detailed information about
well-regulated industry their operations and investments.
Why They publish their NAVs (net asset
Choice of products mutual values) daily, and most funds dis-
funds close their portfolios on a monthly
Access to basis. Additionally, SEBI (Securities
Convenience of process inaccessible assets and Exchange Board of India) regu-
lates the mutual fund industry rigor-
ously, ensuring that investors’ needs
ment vehicles, most mutual funds across different investments. are always safeguarded.
are highly ‘liquid’, implying that Mutual funds are an easy way to
you can withdraw your money at any do this. Each fund spreads money Access to inaccessible assets
time without any hassle. There are across a large number of assets, Some investments can be made
many more advantages to making including equity. only via mutual funds. If you want
your investments through mutual to buy international stocks, it isn’t
funds. Here’s a look at some of them. Choice of products possible to do so directly. But with
Whether you have a high-risk appe- mutual funds, you only need to
Ease of diversification tite or prefer a more conservative park your money in one that
One of the fundamentals of safe approach, there are mutual funds invests in foreign companies and
investing is to spread your money available that suit your various you’re good to go.

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So, what’s the plan?
With the advantages of mutual funds clear, let’s dive into how to get started
and make your dream of becoming a crorepati come true
Select a few good funds
If you are a first-time investor, go `30,600* 1
for aggressive hybrid funds. The 10 years crore
stability of their debt portion can `12,100* 1
save you the stress you may experi- 15 years crore
ence every time the markets dip. `5,400* 1
On the other hand, if you have 20 years crore
prior experience in equity invest- `2,600* 1
ing, need to save taxes and follow 25 years crore
the old tax regime, tax-planning (or
ELSS, as they are popularly known)
`1,300* 1
30 years crore
funds are an ideal choice. And if *Increased the investment by 10% every year Calculations assume 12% CAGR
you have enough surplus over and Estimates to the nearest hundredth’s value
Source: Value Research
above needed for tax savings, you
An apple a day keeps the doctor away. Atleast `1,300 a month is your apple for achieving financial health. With
can go for flexi-cap funds. higher savings invested regularly every month, you improve your financial health dramatically.

Create a monthly SIP Wealth creators

Start investing regularly in your Returns from a monthly SIP of `10,000 over a 20-year period across different funds
chosen funds. You can put that on
`1,40,00,000 z Flexi-cap z ELSS z Aggressive hybrid z Amount invested
auto-pilot by creating monthly SIPs
Flexi-cap: 15.8%
(systematic investment plans). Step 1,20,00,000
up your investment amount every 1,00,00,000 ELSS: 15.6%
year as your income levels rise. Aggressive hybrid: 14.1%
80,00,000
Amount invested: `24 lakh
Review your investments 60,00,000
every year 40,00,000
Review your investments annually
20,00,000
to make any changes. If a fund has
underperformed its benchmark, take 0

a hard look at the reasons for the 2004 2024

Source: Value Research
same and the likelihood of its
persistence before deciding on your Our `1 crore plan assumes a conservative 12% rate of return. The actual 20-year returns of the fund categories have
been higher at 15.6%, 16.8% and 14.1%. In short, you could potentially achieve your `1 crore goal, even faster.
next course of action. If you choose
to exit from a particular fund after
your analysis, it’s essential not to do and in turn, your funds, are bound market swings.
so hastily. You must consider the to be volatile and see sharp
tax implications and exit charges declines. In such situations, your Welcome to the crorepati club!
and weigh these against the benefits interests would be best served by If you follow this simple plan,
of redemption or switching. not worrying too much or falling there is nothing else you need to
for the doomsday predictions that do. Just sit back, relax and watch
Don’t get swayed you often hear during such times. your wealth grow. And by the way,
Putting the first three steps into Here’s our simple advice – DO don’t forget to order the cake.
action is easy; the challenging bit is NOT stop your SIPs or redeem Becoming a crorepati will surely
staying the course. Equity markets, your money due to short-term call for a celebration!

12 How to become a Crorepati December 2024

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The high cost of even
a small delay
The earlier you start investing, the more wealth you can accumulate

I
f you start putting `5,000 into a
scheme that earns 12 per cent Can you afford to start late?
annually, in 30 years it would
Delaying the start by even two years could result in a `1 crore smaller corpus in 2054
grow to `1.54 crore. But, as time goes
by, you will earn more. So you must z Corpus In ` cr
increase the investment too. Even if If you start
you step it up by 10 per cent every now
year, the corpus will grow to `4 crore. 1 year later
Yet, a delayed start can prove costly. 2 years later
What you save in the first five years 3 years later
of your career will account for almost 4 years later

21 per cent of your corpus at 60. This

is assuming that your savings will
increase by 10 per cent annually.
So, while you will save more
later, what you put away now is
4.00 3.47 3.02 2.62 2.27
critical. Miss these golden years and Source: Value Research.
your corpus will shrink by the Assuming a monthly investment of `5,000 started in 2024; amount raised by 10% every year. Investment earns
12% compounded annual returns.
same proportion.

How to become a Crorepati December 2024 13

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 WAY S
TAK E A
While converting your savings of a few thousand rupees
every month into `1 crore may seem impossible, simple
steps like saving regularly and choosing the right
investments can make it possible to achieve your goal.

Time is money. The more you delay your investments,

the smaller your wealth will be when you retire.

When calculating what they will need in the future, savers

often ignore the effect of inflation. Thus, you must start
early, as you will likely need more than your estimates.

Equities may look risky over short periods, but over 10, 20 or
30 years, it’s the best or, perhaps, the only way to earn
enough for a comfortable future.

Unless you are willing to devote time and effort to

research, the best way to invest in equity is through equity
mutual funds.

Disclaimer: The views and opinions expressed are those of Value Research India Pvt. Ltd. and do not necessarily reflect the views of quant Money Managers
Limited/quant Mutual Fund (“the Fund”). quant Money Managers/the Fund is not guaranteeing/offering/communicating any indicative yield on investments.
quant Money Managers or any of its officers, employees, personnel, directors make no representation or warranty, express or implied, as to the accuracy,
completeness or reliability of the content and hereby disclaim any liability with regard to the same. Please consult your financial advisor or Chartered
Accountant for personalised guidance.

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