Scheme Snapshot
• Inception: 1st January 1995
• Type: Open Ended Scheme
• Corpus: 6734.63 crores (30th June 2010)
• Fund Manager: Mr. Prashant Jain / Mr. Anand Laddha
• Benchmark Index: CNX500
• Minimum Investment: Rs. 5000
• Entry / Exit Load: NIL / Max. 1%
• Latest NAV: 267.05 (4th August 2010)
• 52 Week High / Low: 267.07 (3rd August 2010) /179 (10th August 2009)
• Asset Allocation (% of Net Asset)
Equity Exposure: 99.47%
Cash & Equivalent Exposure: 0.53 %
• Market Capitalisation (% of Net Asset)
Large Cap Stocks:79.45%
Mid / Small Cap Stocks: 16.18% / 3.39%
• Key Ratios*
Expense Ratio: 1.81
Portfolio Turnover: 60.3%
Standard Deviation / Beta: 0.51 / 1.09
Correlation: 0.98
Sharpe / Jensen: 0.43 / 6.39
Key Fund Analysis
• Market Cap Focus: Over the past one year the fund manager has increased the exposure to large cap stocks (70.15%) & small cap stocks (2.98%) and reduced the exposure to mid caps stocks (23.9%).
• Sector Focus: Fund Manager has maintained high exposure as well as reduced the exposure in sectors like Banks 18.89%, Pharma 13.23% and Software & Consultancy Services 9.33% over past 1 year.
• Company Focus: Fund Manager has maintained exposure of 6.81% in ICICI Bank, 4.62% in SBI and 4.07% in ONGC over last 1 year.
• Cash & Cash Equivalent exposure has reduced considerably from 2.97% over last 1 year.
Fund Analysis
• The scheme has 99.47% Equity exposure and 0.53% Cash & Equivalent exposure.
• It has the highest exposure to sectors like Banks, Petroleum, Gas & Petrochemical products and Pharmaceuticals.
• The Top 3 holdings in sector, account for 43% of the total net assets.
• The Top 10 holdings account for 39.17% of the total net assets, with highest exposure to SBI and ONGC 7.52% and 6.67% respectively.
• The scheme has consistently outperformed its benchmark index since inception.
• Being a large cap scheme, it has the highest exposure in large cap but at the same time it has exposure to mid and small cap creating a good balance of risk and return.
• High risk adjusted returns which are indicated from the positive Sharpe Ratio
• Positive Jensen Ratio shows Superior Stock Instruments Selection by Fund Manager
The scheme aims at providing capital appreciation through investments predominantly in equity oriented securities.
Ideal for Investors
• Investors looking for diversification
• Investment Horizon: Long Term
• Risk Appetite: Medium to High
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2 comments:
Agree with You;; If one considers the bottom of the market in 2009 and calculate the returns upto August 2010 HDFC equity has generated 110 % returns and is in the top 15 funds.
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