DSP BlackRock Balanced Fund - (G)

Scheme Details

Inception: 27th May 1999
Type: Open Ended Balanced Fund
Corpus: Rs. 678.31Crs (30-Apr-10)
Fund Manager: Apoorva Shah
Benchmark: Crisil Balanced Fund Index
Minimum Investment: Rs. 5000
Entry Load: Nil
Exit Load: Max 1.00 %
Latest NAV: Rs. 60.44 (03-June-2010)
52 Week High: Rs. 61.61 (30-Apr-10)
52 Week Low: Rs. 45.71 (13-Jul-09)
Asset Allocation (% of Net Asset)
Equity : 72.66 %
Debt : 20.99 %
Cash & Cash Equivalents: 6.34 %
Key Ratios
Expense Ratio: 2.04 (30-Apr-10)
Standard Deviation: 1.28
Sharpe: 0.0307
Jensen: 0.0393
Average Maturity: 314 Days

Scheme Objective: Seeks to generate long term capital appreciation and current income from a portfolio constituted of equity and equity related securities as well as fixed income securities.

Fund Analysis: Currently the scheme has 72% Equity exposure and 20% in Debt and holds 6.34% in cash & cash equivalents. It has highest exposure to sectors like Petroleum & Gas 10%, Banks 12% and Pharma 6%.Its current exposure to companies is high in SBI, Infosys & LIC Housing. The Scheme has outperformed its benchmark index. Currently fund has 43% exposure to large cap, 27% to midcap and minimal exposure in small cap stocks. On Equity side fund manager has maintained a good mix of Large & Mid stocks and Debt side focused on high credit quality and low to medium maturity papers to balance risk and returns.
• High risk adjusted returns which are indicated from a positive Sharpe Ratio.
• Positive Jensen Ratio shows Superior Stock, Debt and Money market Instruments selection by Fund Manager.
• Investment analysis indicates that the scheme has created wealth for investors.
Ideal for Investors
With volatility in debt market expected and equity market also trading at fair value, exposure to balanced funds is a better option. Balanced funds have more than 65% invested into equities. Hence, they offer tax savings as any capital gain over a one year period becomes tax free.
• Investment Horizon - Long Term
• Risk Appetite - Medium
Key Fund Analysis
• Market Cap Focus: Over the past one year the fund manager has maintained average holding of 42% in large cap, 26% in mid cap and 1.87% in small cap stocks.
• Sector Focus: Over past one year, fund manager has maintained high average exposure to sectors like Petroleum & Gas 12%, Banks 8% and HFC 7.37%
• Company Focus: Fund manager has maintained average exposure to companies like LIC Housing Finance 4.98%, 2.66% in Reliance Industries Ltd and 2.47% in SBI Ltd. over the past one year.
• Debt Focus: It has maintained average debt exposure of around 14.95% in last one year and focused on high credit quality papers with rating of AAA, AA+ and Sovereign.
• Cash & Cash Equivalent: The average exposure over the past one year has been around 13.23%.