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+ save taxes.
Invest in HDFC TaxSaver.

Contact your Mutual Fund Distributor/ Registered Investment Adviser

or Give a missed call on 73974 12345.

HDFC TaxSaver (An Open-ended Equity Linked Savings Scheme with a statutory
ORFNLQRI\HDUVDQGWD[EHQHͤWLVVXLWDEOHIRULQYHVWRUVZKRDUHVHHNLQJ 

• To generate long-term capital appreciation/ income

• Investment predominantly of equity & equity related instruments

,QYHVWRUVVKRXOGFRQVXOWWKHLUͤQDQFLDODGYLVHUVLILQdoubt about whether the

product is suitable for them. )RUODWHVWULVNRPHWHUUHIHUWRZZZKGIFIXQGFRP

An Individual/HUF is entitled to deduction from gross total income for investments in Equity-Linked Savings Scheme (ELSS) up to Rs. 1.5 Lakhs (along
ZLWKRWKHUSUHVFULEHGLQYHVWPHQWVXQGHU6HFWLRQ&RIWKH,QFRPHWD[$FW,QYLHZRIWKHLQGLYLGXDOQDWXUHRIWKHWD[FRQVHTXHQFHVHDFK
investor is advised to consult his/her own professional adviser.

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January 2021

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 KYA
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Balanced Advantage Funds invest in both equity and debt as per
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Visit www.icicipruamc.com/note to know more about the process to complete a one-time Know Your Customer (KYC) requirement to invest
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 CONTENTS
)(%58$5<
Volume XVIII, Number 5 29 Cover Story

Editorial
Principles
Value Research is an
independent investment
The rise of
research company. Our goal is
to serve our readers with data,
information and knowledge
that inform them about
savings and investments and
help them learn how to make
better choices.
The basis of our work is the
trust reposed in us by our
readers. We are independent,
fair and honest. We are
committed to achieving the
highest level of accuracy and
impartiality in everything that
we publish.
investing
We recognise that the
nature of our work is such ESG funds seek to invest in companies that qualify on
that it influences decisions environmental, social and governance criteria. Will they prove
that affect our readers’ future.
We strive to bear this to be a game changer and should you invest in them?
responsibility with humility.
We recognise that while it is
not possible to be 100 per
cent accurate, it is possible to 12 Value Research Premium 16 Big Funds
always strive to achieve that
standard to the best of our
abilities.
Two kinds of The state of big
Editor Dhirendra Kumar
allocation funds
Research and Editorial Aakar Rastogi, Do your asset allocation and your Performance numbers and other key data of
Ashutosh Gupta, Debjani Chattopadhyay, attention allocation match? the 50 largest equity-oriented funds
Deepika Saxena, Omkar Vasudev Bhat, Sandeep
P, Sneha Suri, and Vibhu Vats We can help.
Design Mukul Ojha
Production Hira Lal

ADVERTISING
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Address your correspondence to:

Editor, Mutual Fund Insight
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e-mail: editor@valueresearchonline.com

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

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

4 Mutual Fund Insight February 2021

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 9 First Page 26 Spotlight
DHIRENDRA KUMAR 6XQGHHS6LNND
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The contents of Mutual Fund Insight published by Value Research India Private Limited (the “Magazine”) are not intended to serve as professional advice or guidance and the Magazine takes no
responsibility or liability, express or implied, whatsoever for any investment decisions made or taken by the readers of this Magazine based on its contents thereof. You are strongly advised to verify the
contents before taking any investment or other decision based on the contents of this Magazine. The Magazine is meant for general reading purposes only and is not meant to serve as a professional guide
for investors. The readers of this Magazine should exercise due caution and/or seek independent professional advice before entering into any commercial or business relationship or making any investment
decision or entering into any financial obligation based on any information, statement or opinion which is contained, provided or expressed in this Magazine.
The Magazine contains information, statements, opinions, statistics and materials that have been obtained from sources believed to be reliable and the publishers of the Magazine have made best
efforts to avoid any errors and omissions, however the publishers of this Magazine make no guarantees and warranties whatsoever, express or implied, regarding the timeliness, completeness, accuracy,
adequacy, fullness, functionality and/or reliability of the information, statistics, statements, opinions and materials contained and/or expressed in this Magazine or of the results obtained, direct or
consequential, from the use of such information, statistics, statements, opinions and materials. The publishers of this Magazine do not certify and/or endorse any opinions contained, provided, published or
expressed in this Magazine.
Reproduction of this publication in any form or by any means whatsoever without prior written permission of the publishers of this Magazine is strictly prohibited. All disputes shall be subject to the
jurisdiction of Delhi courts only. ALL RIGHTS RESERVED

6 Mutual Fund Insight February 2021

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Here’s a boring article
S o here we are, looking at
a brand-new year. It is
the tradition of (almost)
all personal-finance journals to do
some kind of ‘year ahead’ articles to
tell people where to invest in the
year that is just beginning. I don’t
remember a time when this was not
done. While I survey the media and
social media landscape now, I can
see that this is still being done. I
cannot fathom why. Surely, if ever
there was a year which would
make us realise that these kinds of
forecasts are useless than it was
2020. The reason that such
forecasts will always be with us is
that there’s a commercial logic for
those who are doing them, but they
deserve to be ignored by any
serious saver and investor.
I’ve just been searching the
archives of my writings for a
parallel to what I’m saying now
and as usual, I can find plenty.
The reason is that I have boring,
unexciting views that hardly ever
change and I keep repeating them
year after year, but I expect my
readers already know that. Here’s
a nice parallel from more than a
decade ago, from January 2009.
Even though there was no
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FIRST PAGE
Chinese virus around in 2009, it
was a similar time. The world had
been through the worst financial
crisis in a lifetime during 2008
and as 2009 dawned, no one was
quite sure what the new year
would bring.
Here’s a brief excerpt from what
I wrote:
The events of 2008 should be
quite enough to cure anyone of
either making or believing in
predictions … the only useful
approach would be one that
doesn't have to be fine-tuned to
market conditions. The right
strategy for 2009 has to be one
which would also have been the
right one for 2007 or 2008 and will
be the correct one for 2010. Here's
what I think that strategy is…
And then I went on to
recommend my usual boring
‘fixed-income funds for the short
term, equity funds for the long
term, don’t time but keep investing
through SIP’, etc., mantra that I
have been repeating for decades
and decades. I’m happy (and
proud) to say that even though I
gave 2010 as the farthest example
in the above excerpt, 2021 has
arrived and I’m still saying the
exact same thing.
Just like 2008, 2020 was a year
which would test any kind of
forecast-oriented investment plan.
However, when your investment
plan is instead principles-oriented,
then there is no such danger.
Forecasts can be wrong and in fact
are almost always wrong, but
principles last for a long time. Of
course, strategies based on those
principles evolve as conditions
change, but that does not happen
within days, weeks or months. It
takes years, often many years.
Just to give you an example
which is at the top of my mind
recently, back in 2009 when I said
‘equity fund’, I would always have
meant actively managed funds. It
looked likely that one day, the time
for index funds would come but
not yet. Now, a decade later, that
time may be even closer but that’s
a topic for another day. Right now,
I’m just giving this as an example
of the fact that principles do not
change but the strategies needed to
implement those principles can
change, albeit slowly.
The cover story of this issue is
about a new type of fund that is
born not out of an investment
imperative, but an ethical
imperative. Of course, the ethical
element may well be just
opportunistic hypocrisy – I reserve
my conclusions about that – but
perhaps such funds will become
an important force in the world.
Some principles would have
changed and evolved. However, it
will not happen overnight and the
final impact will be very different
from what it looks like now. The
concept could also sink without a
trace, who knows? At this point,
it’s just a part of the background
knowledge that’s good for an
investor to have.
Dhirendra Kumar
Editor
Mutual Fund Insight February 2021 9
 FUND REPORTER

Here comes the new risk-o-meter -\UKZTV]PUNMYVTT\S[PJHW[VMSL_PJHWJH[LNVY`

Effective January 2021, the risk- After SEBI’s change in criteria for multi-cap funds and the subsequent announcement of a flexi-cap
o-meter, which is a pictorial category, the following funds have announced a shift...
depiction of the inherent risk in Existing name New name Effective from
a mutual fund, will have a new
Aditya Birla Sun Life Equity Fund Aditya Birla Sun Life Flexi Cap Fund 30-01-2021
risk category, ‘Very High’. This
Axis Multicap Fund Axis Flexi Cap Fund 30-01-2021
will increase the levels of risk
depiction from five to six. BOI AXA Multi Cap Fund BOI AXA Flexi Cap Fund 03-02-2021
Canara Robeco Equity Diversified Fund Canara Robeco Flexi Cap Fund 10-02-2021
OLD
DSP Equity Fund DSP Flexi Cap Fund 28-01-2021
HO\ 0RGHUDWH 0RGH
HUDW +LJ UDWHO
Edelweiss Multi Cap Fund Edelweiss Flexi Cap Fund 28-01-2021
G
0R /RZ K \ Franklin India Equity Fund Franklin India Flexi Cap Fund 29-01-2021
HDFC Equity Fund HDFC Flexi Cap Fund 29-01-2021
+LJK
/RZ

HSBC Multi Cap Equity Fund HSBC Flexi Cap Fund 28-01-2021

/2: +,*+ IDBI Diversified Equity Fund IDBI Flexi Cap Fund 30-01-2021
IDFC Multi Cap Fund IDFC Flexi Cap Fund 09-02-2021
NEW JM Multicap Fund JM Flexicap Fund 30-01-2021
Kotak Standard Multicap Fund Kotak Flexicap Fund 01-02-2021
L&T Equity Fund L&T Flexicap Fund 09-02-2021
LIC MF Multicap Fund LIC MF Flexi Cap Fund 08-02-2021
Motilal Oswal Multicap 35 Fund Motilal Oswal Flexicap Fund 06-02-2021
PGIM India Diversified Equity Fund PGIM India Flexi Cap Fund 31-01-2021
Parag Parikh Long Term Equity Fund Parag Parikh Flexi Cap Fund 13-01-2021
Shriram Multicap Fund Shriram Flexi Cap Fund 29-01-2021
AMFI numbers for December show
Taurus Starshare (Multi Cap) Fund Taurus Flexicap Fund 31-01-2021
investors seek flight to safety
The AMFI monthly numbers Union Multi Cap Fund Union Flexi Cap Fund 28-01-2021

show that open-end equity funds

barring sectoral/thematic funds -\UKZYLTHPUPUNT\S[PJHW Expected
shift in
continue to bleed. Open-end ... and the following will maintain a status quo.
m-cap Degree of
equity funds collectively wit- Mid Small allocation change in
nessed a net outflow of `10,100 Scheme name Large cap (%)* cap (%)* cap (%)* (%)** portfolio
crore, while sectoral funds saw ICICI Prudential Multicap Fund 72 16 9 25 High
net inflows of `3,400 crore.
*One-year average holdings
However, with the markets scal- ,QGLFDWLYHVKLIWVLQPDUNHWFDSDOORFDWLRQWRFRPSO\ZLWKQHZ6(%,PDQGDWHEDVHGRQODVWRQH\HDUŐVDYHUDJHbDOORFDWLRQV
ing new heights, even after net
outflows, the assets managed by the category observed net inflows half of December, the schemes
all open-end equity categories of `5,100 crore. received a total of `1,213 crore.
saw a rise. According to the AMC, the
On the other hand, open-end Franklin’s shut schemes receive inflows received across six
debt funds saw net inflows of another `1,213 crore schemes are nearly 41 per cent
about `13,800 crore. The highest Since closure in April 2020, the higher than anticipated in the
inflows, `8,600 crore, were seen in six shutdown schemes of maturity profile published at the
the category of corporate bond Franklin have collectively time of closure.
funds. Also, unlike previous sev- received `13,120 crore till For the complete timeline of
eral quarter-ends where liquid December 31, 2020, from matur- the Franklin crisis, see the
funds saw net outflows due to ities, prepayments and coupon ‘Newswire’ section at www.valu-
advance tax payments, this time payments. During the second eresearchonline.com.

10 Mutual Fund Insight February 2021

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Two kinds of allocation
Do your asset allocation and your attention allocation match? We can help.

Dhirendra Kumar

W
hen it comes to
mutual fund
investing, one of
the problems that
most of us create
for ourselves is that we think that
choosing a fund is the most import-
ant part. In fact, not just the most
important but the part that must be
done first. The entire activity of
mutual fund investing gets reduced
to choosing funds. Unfortunately,
this sets us up for failure, and if it
does get success, then that success
is accidental and we don’t actually
know why and how we succeeded.
It’s just luck.
This odd obsession with the
irrelevant parts of investing leads
us to give undue attention to the
parts of our investments that can
play only a small or an irrelevant
role. Some months ago, I saw this
funny clip (bit.ly/jerry-helmet) from
a Jerry Seinfeld comedy show that
made me think of this problem in
investing. Here’s what Seinfeld
says, “Sky-diving was definitely the
scariest thing that I’ve ever done.
Let me ask this question from the
people who do sky-diving. What is
the point of the helmet in sky-div-
ing?” So, if you dive from the plane
and the parachute does not open,
how exactly does the helmet help?
It’s funny, and as far as I can think
of mutual fund investing, it defi-
nitely has a parallel and that paral-
lel is asset allocation.
To be a successful investor, there
must be a match between asset allo-
cation and ‘attention allocation’. And
by ‘successful’, I mean being able to
meet your life’s financial goals.
As a reader of Value Research
publications, you must have heard
about asset allocation often, but
‘attention allocation’ may be a new
concept for you. Let me explain.
Your asset allocation is of course
the proportion of money that you
might have in different asset class-
es, whether directly or through
mutual funds, like equity, FDs,
gold, real estate, PF, etc. Your atten-
tion-allocation pattern is the
amount of thinking and worrying
you do about each. As far as I have
observed, for a good majority of
Indians, equity (both direct and
equity-based mutual funds) gets an
undersized asset allocation and an
oversized attention allocation.
A typical case is an old acquain-
tance who will be retiring in a few
years and came to me for financial
advice. He was completely focused
on choosing and optimising the
equity funds that he was invested
in. When I quizzed him closely, it
turned out that some three-fourth of
his investment portfolio, amounting
to well over a crore of rupees, was
in fixed income, spread between PF
and various fixed deposits. And I’m
counting only financial assets for
the moment, ignoring the apartment
he owns.
Another, even more typical case
is that of an investor who wrote in
to the ‘Ask Value Research’ feature
on ValueResearchOnline.com. His
total assets include about `6.8 lakh
in equity mutual funds, about `74
lakh in fixed deposits, and almost
`2 crore in real estate. However,
the worries he recounted and the
advice he was seeking was entirely
centred on the equity funds,
which added up to a grand total of
roughly 4 per cent of his net

12 Mutual Fund Insight February 2021

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worth. Whatever optimisation he
could possibly do to his equity
exposure wouldn’t add up to any-
thing significant – he could switch
from the very best funds to the
very worst (or vice-versa) and it
wouldn’t have a noticeable effect
on his net worth.
These sound like extreme exam-
ples but in my experience, they are
fairly mainstream. Most Indians
who have any equity exposure are
doing something similar. In a way,
this is an understandable attitude.
Equity-based investing does lend
itself to more activity. There is a
continuous flow of information and
almost continuous liquidity for
equity-based investments.
If you do an audit of your own
asset allocation and attention allo-
cation, you’ll probably find the
same pattern of worrying too much
about too little. The question is,
how are you going to do this audit
so that the two start matching? And
the answer is Value Research
Online Premium.
Of course, for the last two
decades, the plain version of Value
Research Online has had the capa-
bility of showing you the equity vs
fixed-income breakup of your fund
A screenshot of a web page on VR Premium, depicting how VR Premium assesses
and stock investments. However,
your current investments and gives suggestions based on them
Premium takes this much further
by giving you the capability of This ensures that the reality of You should look at getting a pre-
doing a three-way match: where you are going and the temp- mium membership, if:
z Your actual asset allocation tation of paying too much attention z You want to make sure that your
z Your ideal asset allocation, as it to the interesting parts of your allo- life’s financial goals are achieved,
should be according to your goals cation stays in sync. z You want to make sure that your
and therefore… Asset allocation is only one mutual fund investments will
z Your attention allocation! aspect of what Value Research ensure that these goals are
Online – the service can take you achieved, and
As far as I have observed, far beyond the core capabilities z You do not have the time to do
that have always been there on all the background work to do this
for a good majority of Value Research Online. The very yourself.
Indians, equity gets an reason for creating Premium is that The correct ‘attention allocation’
undersized asset allocation for many years now, I have is just one of the things that we can
observed that for a certain propor- do for you; what will actually hap-
and an oversized attention tion of our members, the core set of pen is the attainment of your life’s
allocation capabilities are not enough. financial goals.

Mutual Fund Insight February 2021 13

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 INSIDE FUNDS

The newsmakers of 2020

Here is some key fund-related data for the year gone by
Best & worst of 2020 Top fund houses
Here are the best and worst performers of 2020 across equity categories. Do of 2020 by assets
note that short-term outperformance or underperformance should not be a EQUITY
metric to invest in a fund or exit it. Analyse a fund’s performance across cycles. 2.5 (In ` lakh cr)

1Y returns (%) 1Y returns (%) 2.0

LARGE-CAP FUNDS MULTI-CAP FUNDS
1.5
Quant Focused 23.5 Quant Active 43.6
Nippon India Large Cap 4.9 Nippon India Multi Cap 0.04 1.0

Sensex TRI 17.2 BSE 500 TRI 18.4 0.5

MID-CAP FUNDS ELSS 0.0

SBI Mutual ICICI Pru HDFC Nippon Axis
PGIM India Midcap Opp. 48.4 Quant Tax Plan 46.9 Fund Mutual Mutual India Mutual
Fund Fund Mutual Fund
Motilal Oswal Midcap 30 9.3 Nippon India Tax Saver -0.4 Fund
BSE Mid Cap TRI 21.3 BSE 500 TRI 18.4
DEBT
2.5 (In ` lakh cr)
SMALL-CAP FUNDS 2.0
Quant Small Cap 75.1
1.5
L&T Emerging Businesses 15.5
1.0
BSE Small Cap TRI 33.5
Rreturns as of December 2020. 0.5
Data for regular plans.
0.0
HDFC ICICI SBI Mutual Aditya Kotak
Mutual Prudential Fund Birla Sun Mahindra
Fund Mutual Life Mutual Mutual
Fund Fund Fund
HYBRID
100 (In ` ’000 cr)

80

60

40
Top asset gainers/losers of 2020
Dec-19 Dec-20 Gain/loss 20
EQUITY (` cr) (` cr) (` cr)
0
Axis Bluechip Fund 10,212 22,517 12,305 ICICI HDFC SBI Mutual Kotak UTI Mutual
Prudential Mutual Fund Mahindra Fund
JM Large Cap Fund 3,308 271 -3,037 Mutual Fund Mutual
Fund Fund
DEBT Data as of December 2020
SBI Corporate Bond Fund 9,692 28,522 18,830
ICICI Pru Liquid Fund 55,665 42,177 -13,488
HYBRID
SBI Equity Hybrid Fund 31,620 35,655 4,036
ICICI Pru Equity & Debt Fund 23,073 16,688 -6,384

14 Mutual Fund Insight February 2021

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 Funds’ sectoral allocation in 2020
% of equity assets
z Favourite z Second favourite z Third favourite
Most bought and sold Sector 31-03-2020 30-06-2020 30-09-2020 31-12-2020
stocks by funds in 2020 Automobile 4.35 5.33 5.55 5.28
In ` cr
Chemicals 6.54 6.56 7.33 6.45
Large caps
Communication 3.59 4.40 3.47 3.54
BOUGHT
Bharti Airtel 14,430 Cons Durable 3.62 3.14 3.54 3.62

Hindustan Unilever 5,887 Construction 7.59 7.66 7.30 7.77

Maruti Suzuki 3,528 'LYHUVLÀHG    

SOLD Energy 10.38 10.71 9.99 8.23

Reliance Industries 8,485 Engineering 5.49 5.33 5.16 5.39
Larsen & Toubro 6,352 Financial 22.51 20.36 18.96 21.99
HDFC Bank 4,377 FMCG 9.28 9.07 8.00 7.45

Mid caps Healthcare 7.70 8.43 8.89 7.83

BOUGHT Metals 3.15 3.46 3.45 3.96

Bharat Electronics 1,481 Services 5.60 4.99 5.10 4.94
Page Industries 1,236 Technology 7.21 7.63 10.17 10.23
M&M Financial Services 1,197 Textiles 1.63 1.57 1.68 1.96
SOLD
Jubilant FoodWorks 1,384
Trent 1,265
Tata Chemicals 1,103

Small caps
BOUGHT
Indian Energy Exchange 678
EPL 639
JM Financial 450

SOLD
Future Retail 422
Indostar Capital Finance 314
Cochin Shipyard 312

Mutual Fund Insight February 2021 15

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 BIG FUNDS

The state of big funds

The following funds together constitute over 60 per cent assets of all equity-
oriented funds. Here are their performance numbers and other key data.
Regular plan Direct plan RETURNS (%)
Funds Ratings Expense (%) 3M 6M 1Y 3Y 5Y 10Y

SBI ETF Nifty 50 Not rated 0.07 24.57 36.42 15.71 11.12 13.29
`81,195 crore | Large cap This passive fund saw high investments from EPFO, which made it the largest fund.

SBI ETF Sensex Not rated 0.07 25.65 37.67 17.04 13.13 14.15 -
`34,664 crore | Large cap It proves to be a good investment option owing to low expenses, a low tracking error and a high daily-trading volume.

Nippon India ETF Bank BeES Not rated 0.18 45.67 46.16 -4.27 6.60 12.99 10.58
`7,031 crore | Sectoral-Banking In 2020, the ETF gave negative returns for the first time in the last five calendar years.

UTI Nifty Exchange Traded Fund Not rated 0.06 24.57 36.42 15.69 11.09 13.34 -
`20,901 crore | Large Cap This fund proves to be worth considering owing to low expenses, a low-tracking error and a high daily-trading volume.

CPSE Exchange Traded Fund Not rated 0.01 23.66 15.09 -13.50 -12.31 -1.14 -
`11,374 crore | Thematic-PSU This ETF had an extremely poor run in 2020.

UTI Sensex Exchange Traded Fund Not rated 0.06 25.65 37.68 17.05 13.14 14.21 -
`10,317 crore | Large Cap With a low-tracking error and a high daily-trading volume, this fund scores high but has a low average-trading volume.

HDFC Balanced Advantage Fund Not rated 1.67 24.51 27.30 7.57 3.67 9.28 10.24
`38,067 crore Not rated 1.12 24.68 27.67 8.20 4.52 10.28 -
Hybrid: Dynamic Asset Allocation Even though the fund delivered double-digit returns in 2020, its AUM declined due to net outflows.

SBI Equity Hybrid Fund  1.66 18.62 24.02 12.90 8.57 11.12 11.83
34,353 Crore  0.99 18.82 24.42 13.64 9.39 12.15 -
Hybrid: Aggressive Hybrid A strong track record led by a veteran fund manager has made this fund the largest in the category.

Kotak Standard Multicap Fund  1.64 20.10 29.32 11.79 7.53 12.82 12.57
32,441 Crore  0.7 20.38 29.93 12.89 8.61 14.02 -
Multi Cap The largest actively managed equity fund switched from the multi-cap to the flexi-cap category.

ICICI Pru Balanced Advantage Fund  1.74 12.54 20.54 11.71 8.21 10.11 11.64
27,647 Crore  1.16 12.70 20.88 12.37 9.05 11.24 -
Hybrid: Dynamic Asset Allocation It has underperformed the category in just two calendar years since 2006.

Axis Long Term Equity Fund  1.67 27.62 36.92 20.52 12.39 14.15 16.38
25,618 Crore  0.74 27.90 37.50 21.50 13.41 15.28 -
ELSS Barring 2016 and 2017, the fund has comfortably beaten the category average every year since its launch in 2009.

ICICI Prudential Bluechip Fund È 1.75 23.66 32.62 13.49 7.29 12.05 11.25
25,224 Crore È 1.14 23.84 33.06 14.20 8.11 12.99 -
Large Cap The fund may not be a star performer but has proved its mettle over longer investment horizons.

SBI Bluechip Fund  1.7 26.18 36.39 16.34 7.57 11.19 11.82
24,880 Crore  1.03 26.41 36.87 17.24 8.49 12.28 -
Large Cap This fund boasts of a stable fund management, with Sohini Andani at the helm for over 10 years.

HDFC Mid-Cap Opportunities Fund  2.01 19.78 36.85 21.75 2.70 11.30 14.84
24,215 Crore  1.16 19.98 37.31 22.58 3.56 12.29 -
Mid Cap The fund has given double-digit returns in 2020 but AUM grew by single-digit percentage points due to net outflows.

Mirae Asset Large Cap Fund  1.63 19.96 33.37 13.70 8.37 13.77 13.49
20,797 Crore  0.55 20.30 34.10 14.96 9.48 14.81 -
Large Cap The fund has an illustrious track record and has underperformed the category in just two calendar years since inception.

HDFC Equity Fund  1.75 28.28 34.02 6.44 3.12 9.98 9.13
20,546 Crore  1.3 28.45 34.41 7.05 3.83 10.82 -
Multi Cap Although the fund has a long-standing history, it has been struggling for quite a while to keep up with peers.

16 Mutual Fund Insight February 2021

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 RETURNS (%)
Funds Ratings Expense (%) 3M 6M 1Y 3Y 5Y 10Y

Axis Bluechip Fund  1.66 24.94 33.74 19.72 14.74 14.99 12.47
20,480 Crore  0.52 25.30 34.54 21.19 16.20 16.40 -
Large Cap Its focus on picking quality stocks at a reasonable price made it emerge as one of the most-consistent performers.

Aditya Birla SL Frontline Equity Fund  1.81 24.31 34.88 14.22 6.07 10.85 10.87
18,746 Crore  1.09 24.53 35.37 15.02 6.89 11.83 -
Large Cap Although it delivered superior performance earlier, the fund has been struggling to outperform its category since 2017.

HDFC Top 100 Fund  1.84 25.49 31.34 5.91 4.52 10.33 8.90
17,566 Crore Ç 1.21 25.68 31.73 6.53 5.19 11.07 -
Large Cap Although the fund was well known earlier, it has been struggling to beat the category for a few years now.

HDFC Hybrid Equity Fund  1.81 20.46 28.48 13.38 5.82 10.62 12.27
17,168 Crore  1.22 20.64 28.88 14.09 6.70 11.67 -
Hybrid: Aggressive Hybrid The fund has been struggling to outperform the category since 2019.

ICICI Prudential Value Discovery Fund  1.85 19.78 31.10 22.87 5.77 8.92 12.97
16,610 Crore  1.31 19.94 31.46 23.55 6.50 9.89 -
Value Oriented Even though the fund’s current rating is three stars, it emerged as the best performer in 2020 in the value category.

ICICI Prudential Equity & Debt Fund  1.78 21.58 23.76 8.95 5.31 10.62 12.37
16,331 Crore  1.3 21.72 24.08 9.52 6.14 11.76 -
Hybrid: Aggressive Hybrid Led by a veteran fund manager, this is a conservative fund with a strong track record.

UTI Equity Fund  1.78 27.89 46.44 31.55 14.97 14.87 13.04
13,546 Crore  1.26 28.10 47.00 32.45 15.63 15.48 -
Multi Cap The fund improved its performance in 2020, featuring in the category top quartile, which got it a four-star rating.

Mirae Asset Emerging Bluechip Fund  1.78 21.83 36.70 22.40 9.89 17.27 20.13
13,405 Crore  0.74 22.17 37.43 23.63 10.90 18.29 -
Large & MidCap Since Nov-20, the fund has restricted inflows to a maximum of Rs 2,500 monthly, considering its quickly rising asset size.

Axis Focused 25 Fund  2 27.34 37.76 21.01 11.73 16.19 -

13,359 Crore  0.65 27.79 38.72 22.48 13.13 17.61 -
Multi Cap The fund remained a strong performer in the category, retaining its five-star rating throughout the year.

Aditya Birla Sun Life Tax Relief 96 È 1.87 17.22 26.00 15.29 4.70 11.18 11.63
12,118 Crore È 0.93 17.42 26.49 16.33 5.74 12.28 -
ELSS The fund has lately been underperforming the category average owing to its mid-cap heavy portfolio.

Aditya Birla Sun Life Equity Fund È 1.88 24.36 38.03 16.07 6.49 13.18 11.88
12,109 Crore  0.98 24.64 38.68 17.11 7.53 14.31 -
Multi Cap Its performance in 2020 was not particularly exceptional, but the fund continued to be above average in its category.

SBI Focused Equity Fund È 1.81 22.82 28.40 14.54 8.52 13.58 14.90
12,020 Crore  0.78 23.14 29.06 15.75 9.63 14.68 -
Multi Cap It remains a four-star fund because of its stellar long-term record, even after an average performance in 2020.

Motilal Oswal Multicap 35 Fund  1.75 19.01 29.79 10.30 3.12 11.21 -
11,791 Crore  0.92 19.26 30.41 11.37 4.08 12.23 -
Multi Cap Although it is a multi-cap fund, it follows a more focused approach for running its portfolio.

Nippon India Small Cap Fund  1.77 18.77 45.33 29.24 1.62 12.53 17.18
10,398 Crore  1.16 19.02 45.95 30.34 2.63 13.73 -
Small Cap With an increasing asset size, it has emerged as the largest fund in the small-cap category.

Nippon India Large Cap Fund  1.72 26.48 34.45 4.91 3.93 9.69 10.37
10,298 Crore  0.99 26.74 35.01 5.85 4.90 10.80 -
Large Cap Its intent to invest 20 per cent of its AUM in mid- and small-cap stocks has made it more aggressive than peers.

Nippon India Tax Saver (ELSS) Fund  1.73 24.46 33.96 -0.45 -7.10 4.05 9.51
9,987 Crore  1.2 24.68 34.43 0.27 -6.37 4.91 -
ELSS The fund management has been recently taken over by Sanjay Parekh and Ashutosh Bhargava.

SBI Magnum Multicap Fund  1.88 24.47 34.48 13.60 5.99 11.53 11.54
9,863 Crore  0.95 24.74 35.10 14.68 7.04 12.69 -
Multi Cap After an impressive run over the past few years, its performance in 2020 saw a dip vis-à-vis peers.

Mutual Fund Insight February 2021 17

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 BIG FUNDS
RETURNS (%)
Funds Ratings Expense (%) 3M 6M 1Y 3Y 5Y 10Y

DSP Midcap Fund  1.88 15.16 32.42 23.64 6.64 13.56 13.99
9,467 Crore È 0.89 15.45 33.05 24.78 7.59 14.55 -
Mid Cap The fund remains a strong performer in the mid-cap space, which may not be evident in shorter time frames.

HDFC Small Cap Fund  2.1 21.09 44.79 20.17 -0.01 11.11 11.04
9,323 Crore  0.9 21.38 45.51 21.39 1.20 12.47 -
Small Cap The performance of the second-largest small-cap fund was below par compared to the peers in 2020.

Franklin India Equity Fund  1.83 27.20 34.51 15.98 4.64 9.46 11.50
8,841 Crore  1.1 27.44 35.01 16.86 5.55 10.52 -
Multi Cap This is one of the few funds in the multi-cap category having a track record of more than 26 years.

Kotak Emerging Equity Fund  1.86 20.39 39.22 21.89 5.40 13.06 14.48
8,654 Crore  0.61 20.76 40.09 23.47 6.69 14.55 -
Mid Cap Although its performance was below par than its category average in 2020, it continues to be a four-star fund.

Nippon India Multi Cap Fund  1.77 23.47 34.69 0.04 0.00 5.62 9.79
8,230 Crore  1.19 23.68 35.15 0.77 0.70 6.40 -
Multi Cap The fund emerged as the worst-performing fund in the multi-cap category for the year 2020.

SBI Long Term Equity Fund  1.87 20.30 33.36 18.87 4.24 8.99 10.04
8,185 Crore  1.3 20.49 33.76 19.61 4.93 9.70 -
ELSS The fund outperformed the category average in 2020 after underperforming for four consecutive calendar years.

Aditya Birla SL Equity Hybrid ‘95 Fund  1.88 19.25 30.39 11.67 3.57 8.77 10.28
7,995 Crore  1.06 19.50 30.93 12.56 4.51 9.92 -
Hybrid: Aggressive Hybrid Although it delivered strong performance in the past, it has been struggling to beat its category since 2017.

Axis Midcap Fund  1.99 17.88 33.33 26.01 13.20 14.82 -
7,878 Crore  0.55 18.29 34.30 27.77 14.63 16.24 -
Mid Cap Continuing with its impressive performance, the fund maintained its five-star rating throughout 2020.

Nippon India Growth Fund  1.87 20.09 40.34 22.05 5.10 11.62 10.78
7,843 Crore  1.2 20.31 40.84 22.90 5.80 12.43 -
Mid Cap The fund had a below-par performance in 2020 after beating the average category peer in the previous three years.

ICICI Pru Long Term Equity Fund  2.05 25.97 33.56 13.60 7.48 10.21 11.42
7,277 Crore  1.26 26.21 34.10 14.34 8.36 11.33 -
ELSS The fund has beaten the category average only once (2019) in the last five years with a miniscule margin.

HDFC Taxsaver Fund  2.01 21.05 28.93 5.76 -0.77 7.81 8.19
7,263 Crore  1.36 21.24 29.34 6.39 -0.12 8.53 -
ELSS The fund has been continuously underperforming the category average and benchmark since 2018.

Franklin India Focused Equity Fund  1.84 33.05 31.40 10.86 3.89 10.09 13.16
7,205 Crore  1.01 33.33 31.93 11.79 4.90 11.26 -
Multi Cap Its underperformance over the last two years has made it a two-star fund.

Axis Multicap Fund  2.06 25.19 33.19 19.29 14.35 - -

7,099 Crore  0.54 25.65 34.20 21.08 16.15 - -
Multi Cap The fund got rated five stars for the first time in late 2020 since its inception in 2017.

Franklin India Prima Fund  1.86 23.36 36.69 17.78 3.37 10.84 14.42
7,026 Crore  1.06 23.61 37.25 18.76 4.33 11.91 -
Mid Cap Although it gave double-digit returns, its AUM declined slightly because of continued outflows in 2020.

DSP Tax Saver Fund  1.89 23.99 32.84 15.05 6.84 13.08 12.38
7,015 Crore  0.91 24.29 33.48 16.14 7.88 14.21 -
ELSS With a blend of growth and value investment strategy, its annual return has been over 16 per cent since inception.

UTI Mastershare Fund  1.84 24.22 35.54 18.67 9.35 11.91 10.28
7,008 Crore  1.04 24.49 36.21 19.80 10.31 12.79 -
Large Cap This oldest equity fund was able to provide dividends even during the bear phases of 2000, 2008 and 2011.

Canara Robeco Emerging Equities Fund  1.91 20.79 37.47 24.55 7.06 13.86 17.60
6,880 Crore  0.76 21.13 38.27 26.00 8.32 15.23 -
Large & MidCap The fund continued to do well in its category and managed to become a five-star fund early last year.

No change in the primary fund manager in the 50 schemes mentioned above. Ç Ratings upgrade in the last 3 months. ÈRatings downgrade in the last 3 months.
Returns as on December 31, 2020. Expenses and assets as on November 30, 2020.

18 Mutual Fund Insight February 2021

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 FUND RADAR

The rolling stone that does

gather moss
The roll-down strategy in debt funds can help reduce the interest-rate risk and
improve the predictability of returns. Here’s all you need to know about it.

I
nterest-rate risk, also known as the
duration risk, is an important factor
in debt-fund investing. This is the
risk of a sudden drop in the NAV of a
debt fund owing to a rise in interest
rates. However, a roll-down maturity
portfolio can help you reduce this risk.
There are many debt funds that deploy it.
But before you decide to invest in them,
let’s first understand what this strategy is
and what its pros and cons are.
initiate deployment for the
What is the roll-down strategy?
When a fund manager creates a portfolio
and holds underlying securities till
maturity, the fund is said to be following a
roll-down maturity structure. Effectively,
here the maturity period comes down over
a period of time. So, the fund sets
maturity at the beginning and then resets
it once the maturity rolls down to zero.
Since maturity reduces over a period of
time, the interest-rate risk also reduces.
Whenever the fund sees inflows and
outflows, it buys bonds with a tenure
“As and when the fund
gets closer to maturity,
the fund manager would
next phase of roll-down.
For an investor who
chooses to stay along the
full roll-down of the fund,
predictability factor for
every investment is very
close to the yield of
deployment/day-end
valuation of the
respective security.”
Saurabh Bhatia,
Head – Fixed Income at
DSP Investment Managers
similar to the residual maturity of the
fund. As the original maturity remains
fixed, the fund is able to provide a
predictable return profile.
This is not a new strategy in the
mutual fund industry. Fixed maturity
plans (FMPs) are based on this premise
only. The fund manager here buys and
holds securities whose duration is
similar to the term of the fund.
Therefore, in a five-year FMP, the fund
manager buys bonds with a maturity of
five years. FMPs are designed like fixed
deposits, where investors can take their
money out only at maturity.
Earlier, there was a slew of FMP
launches. However, now people shy away
from FMPs. In the aftermath of the IL&FS
crisis, the long-established principles of
risk management through diversification
were violated by some AMCs in their
FMPs. But many fund companies have
started pursuing a similar investment
strategy in their open-end funds, which
can be visualised as open-end FMPs.

*VU]LU[PVUHSZ[YH[LN`]Z[OLYVSSKV^UZ[YH[LN`
Fund which keeps its maturity in a narrow range Fund on a roll-down maturity duration of seven years
5.0 7

4.4 6

3.8 5

3.2 4

2.6 3

2.0 2
January 2016 November 2020 January 2016 November 2020

20 Mutual Fund Insight February 2021

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 FUND RADAR
Conventional style vs the roll-down style
Consider two kinds of funds, one that keeps its
maturity in a relatively narrow range of, say, two to five
years, while the other sets a roll-down duration at let’s
say seven years (look at the graphs titled ‘Conventional
strategy vs the roll-down strategy’).
In the case of a more conventional fund, the fund
manager, in a steady state, keeps buying and selling
bonds while keeping the portfolio maturity within this
defined range. Based on his/her views on interest rates,
the fund manager may buy longer-dated or short-dated
bonds. However, the average maturity will oscillate
within the band of two to five years. On the contrary,
the fund manager following the roll-down strategy will
let the portfolio gradually roll down over the set
duration of seven years to zero and then will reset it
back to the original duration. So, this is the basic
difference between the two strategies. Now comes the
most important question – what are the implications of
the roll-down strategy for an investor?
Advantages and the flip side
Open-end funds running portfolios on the roll-down
strategy can act as an alternative to FMPs. If an investor
holds a debt fund following the roll-down strategy till
maturity, then the intermittent volatility owing to
interest rates would reduce proportionately. Further,
the investor also gets an additional benefit of liquidity
because of the open-end structure.
According to Saurabh Bhatia, Head – Fixed Income
at DSP Investment Managers, a fixed-income investor
should choose to see through the resets to get the
benefit across rate cycles. “As and when the fund gets
closer to maturity, the fund manager would initiate
deployment for the next phase of roll-down. For an
investor who chooses to stay along the full roll-down of
the fund, predictability factor for every investment is
very close to the yield of deployment/day-end valuation
of the respective security,” he says.
But there are some limitations as well. In an FMP, an
investor can be sure about the returns that he/she will
get at the end of the period, provided there are no blow-
ups in the portfolio. However, in the case of open-end
roll-down strategy, large intermittent inflows and
outflows may alter the yields to some extent. This is
because the fund manager will have to create liquidity at
prevailing yields to deploy the fresh inflows or manage
the outflows, thereby impacting the predictability factor.
If you invest in a fund following the roll-down
strategy at a time when yields on offer are fairly low
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(such as the current scenario), that may not be prudent.
Further, entering a fund having a longer-duration roll-
down maturity at a time of lower yields may also not
be wise. Bhatia says that initiating a greater than three-
year roll-down strategy at current yields does not
provide a favourable risk–reward. “One-year roll-down
funds or funds bearing a residual roll-down of about
12–18 months may prove to be more beneficial as they
will realign with the change (reversal) in the interest
rate cycle,” adds Bhatia.
Funds using the roll-down strategy
Apart from the Bharat Bond ETFs, these days, several
debt funds, particularly banking and PSU and
corporate bond funds, seem to be following the roll-
down strategy. While this strategy is followed by some
funds, it is not really a part of the mandate. The table
‘Some funds following the roll-down strategy’
highlights some funds that have mentioned the roll-
down strategy as their current investment style in their
product brochures/literature. However, this is not an
exhaustive list.
:VTLM\UKZMVSSV^PUN[OLYVSSKV^UZ[YH[LN`
Average maturity
Fund name as of Nov-20
Axis Banking & PSU Debt 1.90
DSP Corporate Bond 1.34
DSP Savings 0.26
IDFC Banking & PSU Debt 2.30
IDFC Corporate Bond 3.30
L&T Banking and PSU Debt 2.68
Nippon India Floating Rate 2.71
Nippon India Nivesh Lakshya 24.26
For whom are these suitable?
Fixed-income investors who have a very defined
investing time frame can consider such funds. One
should make sure to choose a fund whose maturity
profile matches with one’s investment horizon. This
contains the intermittent interest-rate risk to a large
extent. Having said that, if you opt for the roll-down
strategy at this time, it may not be very prudent to go
for the one having a very long term.
For investors who don’t have a specific time frame,
someone like a retiree, the steady fixed-income
allocation may find funds that keep their duration in a
narrow range of short to medium term, say three-five
years, of more liking.
Mutual Fund Insight February 2021 21
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 Mutual Fund Insight February 2021 23
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 SPOTLIGHT Sundeep Sikka ED & CEO, Nippon Life India Asset Management
‘The best years are yet to come
for the industry as a whole’
It has been over a year since Nippon Life
Insurance of Japan took over the reins of
its mutual fund joint venture with Reliance
Capital, which exited it completely. We
speak to Sundeep Sikka, the AMC’s CEO,
to understand the strategy and the focus
areas of the fund house.
26 Mutual Fund Insight January 2021
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It has been over a year since the change in ownership
to Nippon Life Insurance. Has the transition
completed in all respects? How smooth has it been?
We have been operating under our new brand name,
Nippon India Mutual Fund, for a little over a year now.
Nippon Life took over as the majority shareholder in
October 2019. From being a minority shareholder with
about 26 per cent ownership in 2011, Nippon Life gradu-
ally increased ownership. Finally, when one of the earlier
promoters wanted to monetise its stake, Nippon Life
decided to undertake majority shareholding.
Nippon Life’s overall view on India has been very posi-
tive. Along with being in the financial-services industry
for so long as a life-insurance company, they want to
slowly diversify into the asset management business
going forward and tap the entire value chain for consum-
ers. This is the first time for Nippon Life to be operating
in a foreign country without a joint venture partner. But it
looks at the management here, which is backed by
Nippon Life, as its joint venture partner. And hence, the
transition has been smooth owing to their trust in the
management in India and shared value system.
Nippon, a 130-year-old Japanese company brings along
an unrelenting experience of different market cycles and
holds total assets amounting nearly twice the size of the
Indian asset management industry. It is one of the largest
institutional investors in Asia and one of the largest insur-
ance companies in the world.
Our objective at Nippon India is to become a global
asset manager based out of India. In India, whenever we
talk about asset management, it is mostly about mutual
funds, but our vision is to build a true-blue asset manage-
ment company, where the presence will be across mutual
funds, ETFs, off-shore funds, private equity, venture and
alternative funds. That’s how we want to expand
going forward.
How is Nippon Life contributing
in functions like investment
management and risk
management?
One function where there is
very strong guidance from Nippon Life is risk manage- every Indian household a mutual fund investor. One or
ment. Let me give you an example in relation to fixed two big corporate houses investing `1,000 crore gives you
income. As a fund house, we have decided that we will a perspective that the industry has become big. But the
not be investing in fixed-income securities rated below AA, real yardstick of success should be based on strategies to
in all but two schemes, where there is a SEBI-prescribed make every Indian household a mutual fund investor.
investment mandate or scheme-specific mandate. The In terms of strategic initiatives, enterprising upon the
retail investor may or may not be able to understand the digital medium is the game changer. Digital distribution
associated risks, so we believe that it is better to set a will be a very important pillar. Nearly 50 per cent of the
framework that will safeguard the interest of our investors. incremental purchase transactions done at Nippon India
Similarly, on the equity side, we have defined frame- are digital and we want to deepen it further.
work for funds, what we call as ‘Fund Casing’. Fund Also, over the next 10 years, I think we will see a big
Managers will have all the freedom but will operate with- change in trend. The Indian markets have been obsessed
in the institutionalised framework – freedom within a with short-term performance. If a fund does well for
framework. We do not believe in the concept of a star two-three years, its AUM grows but then performance
fund manager. The fund managers should be there to falls. The top-performing funds keep changing every two
coach the team but should not be taking extreme calls. to three years. I feel there will be a time when a set of
So, Nippon Life has been contributing significantly in investors will start investing in ETFs. We are gearing
building these frameworks. up for this.
Besides contributing in risk manage-
ment, Nippon Life is also contributing
“Even What are you doing to stay ahead
in getting the global flows to India. today, the in the ETF space? It is a highly
We have three Indian funds in number of unique competitive market segment
Japan, which are distributed in investors in India is only where the global experience
length and breadth across Japan. suggests that the winner
We have also started an Indo- around two crores. Just to put takes all.
Japanese tech fund, a first of its things in perspective, if you look We are amongst the few players
kind. The launch was announced at the data of two-wheeler sales, which have a strong pedigree
in the G-20 summit. This would and track record in both active
not have been possible without
they are about 2 crore every and passive styles of fund man-
Nippon Life. A stronger risk-man- year and over 20 crore on agement. We run ETFs as a sepa-
agement framework, global business the road!” rate business vertical. I clearly
allocation and new business initiatives remember that when we took over the
of spreading across all facets of asset man- Goldman Sachs (erstwhile Benchmark
agement are where Nippon is contributing. Mutual Fund) operations, a lot of people ques-
tioned the decision. In India, you make money only
With increasing awareness, mutual funds are perhaps through active management, they said. But our thought
at the cusp of becoming mainstream investments. process is very simple, and we adhere to two principles.
What are your focus areas over the coming decade? One is that what is good for the investor is good for us.
Where would you like to invest strategically? We cannot stay away from the ETF segment because it
I continue to be a great believer that from the perspective doesn’t get you high margins. If we do not enter it, some-
of mutual funds, the best years are yet to come for the one else will. Secondly, we believe it is better to disrupt
industry as a whole. We clearly see the penetration get- yourself rather than someone else disrupting you.
ting deeper, but a lot is yet to materialise. Even today, the Therefore, as part of our disruptive strategy, our ETF port-
number of unique investors in India is only around two folio is getting bigger and stronger.
crores. Just to put things in perspective, if you look at the When it comes to ETFs, the key parameters to talk
data of two-wheeler sales, they are about 2 crore every about are tracking error, liquidity and track record. Now
year and over 20 crore on the road! the track record only comes with time and not much can
Today, we are at a stage where the orientation is still be done about it. But the other two are linked to each
towards AUM. I think it is time for the industry to move other. Liquidity defines the tracking error. Because if
to the new benchmark and think about how to make liquidity is not there, the impact cost is high. So, liquidi-

Mutual Fund Insight February 2021 27

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 SPOTLIGHT

ty is of utmost importance. nesses in the portfolio that continue

During April to September to be good, but the valuations didn’t
2020, for Nifty 50 ETF, the every- turn out the way we were expecting.
day turnover in the stock Things have become more difficult in
exchange stood at `36 crore across the last two years. But hopefully you
17 ETFs. Out of this, `26 crore will see a bounce back very soon.
was invested with Nippon India The recent performance has already
ETF, i.e., 70–75 per cent of the improved substantially. As I men-
market share. The trading volume tioned earlier, we have created a
of the sixth-biggest player was `24 framework to control the style bias
lakh. Now imagine, if you are and marry the qualitative and quanti-
buying an ETF of a certain tative factors to avoid the kind of
amount, it may take about a variance we saw in the last two to
week’s time and the impact cost three years.
will be around 2–3 per cent. This
defeats the purpose of investing in On the debt side, the credit
a low-cost ETF. “The transition to the fresh brand environment has been fairly
Take another example of bank- identity of Nippon Life has been a challenging. Nippon India funds
ing ETFs for the same period. significant achievement for us, as were also hit by downgrades. In
Average daily traded volume of the management team has been hindsight, what could have been
banking ETFs was `37 crore. Out playing an important role in done to avoid them? How are they
of this `24 crore is only Nippon reinforcing investors’ confidence reshaping the thinking on the fixed-
India ETF, and the fifth-largest in the company. I believe in the income side?
player comes at `45 lakh. great potential of the Indian asset Post the IL&FS crisis, the entire indus-
Similarly, gold ETFs have a trad- management industry and would try is going through several challeng-
ing volume of `53 crore, out of like to enhance growth of the es, but I believe, one has to continue
which Nippon contributes `28 company by sharing expertise of learning from situations that do not
crore. the Nippon Life group, e.g., pan out as assessed. Setting the right
upgrading risk management, as expectations for investors is key. A lot
Last two-three years have been well as our global experience in of investors never expected any risks
disappointing for some of your order to contribute to wealth in fixed income. I don’t blame them.
biggest equity funds in terms of creation in the Indian society.” That’s how the entire ecosystem has
performance. What have been been paved over the years. That is the
the pain points and how much Kazuyuki Saigo reason why we have decided to not
Managing Executive Officer, Regional
does that worry you? CEO for Asia Pacific, Head of India, invest below AA because there is a set
I think it’s challenging when you Nippon Life Insurance Company of retail investors who might not
are not able to rise up to the understand the associated risk.
expectations. Extraordinary From an investment perspective,
past-performance records of some one of the important lessons is that
funds in our suite have made those expectations very credit appraisal should focus equally on cash flows as
high. But this is part and parcel of the investment-man- assessing the credit quality of the issuer. We are focusing
agement business and I find this across the industry. only on those names where the cash-flow visibility is very
Such phases come across the industry, especially, when high and structures are self-liquidating in nature, particu-
we take thematic calls, i.e., a view on sectors which are larly in high-yield bonds. This way, we are not at the
cyclical. mercy of balance sheet vagaries and do not have to rely
The large-cap and multi-cap funds have not done well on refinancing. We will also be focused on avoiding con-
as expected over the last two years. But then there are centration risk – something we have suffered from in the
other funds, like our small-cap fund, which have done past. Much like I mentioned for equity schemes, we have
well. The kind of polarisation that we have seen in the put in place comprehensive framework for every debt
market has impacted performance. Also, there are busi- fund, with finely defined quality and liquidity profiles.

28 Mutual Fund Insight February 2021

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

The rise of

investing
ESG funds seek to invest in companies that qualify on
environmental, social and governance criteria. Will they
prove to be a game changer and should you invest in them?

29 Mutual Fund Insight December 2020 Mutual Fund Insight February 2021 29
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
 COVER STORY
Omkar Vasudev Bhat
T
he world of investing is
always innovating. Over
time, many strategies,
models, systems, etc.,
have made inroads into
the investment world. Many of
these had their genesis in the
developed markets.
These days, fund investors
frequently come across ‘ESG’ funds
which are being launched by many
fund houses. In the last one year,
ending December 2020, seven such
funds have been launched. Given the
rise of this new category of funds, we
felt it would make sense to delve
deeper to understand what it offers
and whether one should invest in it.
‘ESG’ funds seek to invest in
businesses that score high on
environmental, social and
governance (ESG) standards. Over
the last decade, ESG investing has
become quite a rage in the developed
markets, as seen from the surge in
the number of funds and indices
constituting socially responsible
investing, impact investing,
sustainable investing, etc.
This trend has its roots in 2005,
when Kofi Annan, the then UN
Secretary-General, had invited a
group of the world’s largest
institutional investors to develop the
(IYVHK,:.MYHTL^VYR
An overview of the broad issues covered under the ESG umbrella
Environmental Social
Energy
Human Rights
Consumption
Pollution Child And
Control Forced Labor
Tackle Community
Climate Change
Waste Stakeholder
Management
Health And Safety
30 Mutual Fund Insight February 2021
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
Principles for Responsible
Investment (PRI), which centred
around tackling the ESG issues (see
the illustration ‘A broad ESG
framework’). This created the PRI
network, the world’s leading
proponent of responsible investing.
The 521 signatories of the PRI
group manage more than $103
trillion (as of March 2020) in line
with the ESG principles. ESG assets
have grown at about 22 per cent per
annum since the inception of this
theme in 2006.
Global and Indian perspectives
While ESG funds are new to
Indian investors, there are more
than 3,000 such schemes available
globally. This suggests a welcome
shift from the sole focus on
profitability at any cost to
sustainable growth.
Businesses across geographies
Governance
Quality Of
Management
Board
Independence
Mitigating conflicts
Welfare of interest
Board Diversity
have been improving their ESG
disclosures over several years
now. This has given birth to a
number of third-party ESG data
and ratings providers. This
support industry is itself worth
about a billion dollars, as per
some estimates.
India doesn’t have a long
history of ESG-focused
regulations. There has been some
oversight on business by
government bodies such as the
Ministry of Environment, Forest
and Climate Change and the
Ministry of Labour and
Employment but it has been
nowhere close to the attention
given to the ESG theme
worldwide.
On the brighter side, through
the Companies Act 2013, India
became the first country in the
world to make corporate social
responsibility (CSR) mandatory
for businesses with a certain
turnover and profitability. Such
businesses are required to spend 2
per cent of their average net profit
of the past three years on CSR.
More recently, in late 2020,
SEBI introduced new norms for
ESG disclosures by the top 1,000
listed entities by market
capitalisation. These have to be
complied with by FY22. Actually,
the market regulator’s ESG focus
dates back to 2012, when the top
100 listed companies were
mandated to include a business
responsibility report as part of
their annual reports.
So, while the ESG theme is
new in India, a realisation of its
importance has been around for
several years now.
The investment case
For the Indian investor, the
million-dollar question is, should
one invest in ESG funds? Well,

your personal inclination towards
the ESG cause does have a big
role to play in this. Apart from
that, here we evaluate the
available ESG funds from an
investment perspective.
The higher cause
As an individual investor, one
might want to be altruistic with
one’s investments and ESG
investing could be a way in which
one can give back to the society
and be more proactive towards
the conservation of the
environment. Investor support to
ESG-grade companies might be a
powerful motivation for
businesses to bring a step change
in their attitudes instead of just
paying a lip service to ESG-related
responsibilities.
But what really accounts for
ESG compliance can be highly
subjective due to its qualitative
nature and hence one may feel
confused about what qualifies and
what doesn’t. For example, big
tech companies have announced
their goals of becoming carbon-
neutral and, in some cases, even
carbon-negative in the coming
decades. This would rate them
quite high on environmental
factors. However, in recent years,
their policies related to data
privacy have come under the
scanner and continue to remain a
concern affecting their standing
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
on the social factors. So, finding
all the three components of ESG
in a single company could be a
tough ask in itself.
Further, not all ESG parameters
have clear-cut, black and white
boundaries. For example, a
popular electric-vehicle maker,
which became the largest one by
market cap in 2020, is planning to
source cobalt from a Congolese
mining giant. But certain human-
rights groups have raised
concerns regarding child labour
against this mining major. Here,
even though the automaker is not
directly falling short on any ESG
norms, one of its stakeholders in
the value chain is blatantly
flouting the social norms.
Also, not all ‘green’ investments
are green. One may consider use
of natural gas as more
environment-friendly than coal.
However, when one considers the
process of fracking for extracting
natural gas and its long-term ill
effects on health and ecosystem,
the so-called ‘green’ investment
starts to look black.
The next issue is a lack of
common ground among
institutions as to which
companies qualify as ESG
investments. Indian AMCs seem
to leverage their own research
expertise, along with data from
external rating agencies, for ESG
assessment and evaluation. In
certain cases, AMCs also utilise
the expertise of their foreign
partners (for example, Amundi for
SBI and Schroders for Axis). Then
there are certain funds – for
instance, those launched by Mirae
Asset – that are more passive in
nature. Their ESG framework is as
defined by an underlying index.
Further if we see the universe
of stocks in the portfolios of five
available ESG funds (as of
November 2020), we get a
universe of 134 stocks, which is
fairly large (see the chart ‘Indian
ESG universe’). This proves that
the criteria used to pick stocks in
these funds varies in a fair degree,
0UKPHU,:.\UP]LYZL
The following is the sector-wise break-up of
the number of stocks forming part of the five
ESG funds in India.
Sector No. of stocks
Financial 19
Healthcare 17
Technology 15
Engineering 13
Services 12
Energy 10
FMCG 10
Construction 9
Automobile 8
Chemicals 7
Cons Durable 5 Total
134
Others 9
Data as of November 2020
thanks to the subjective nature of
the ESG classification.
This lack of standardisation is a
much-criticised aspect of ESG
funds worldwide. Universally,
there are no common ESG factors,
which makes it difficult to
compare businesses. Thankfully, to
address the issue of
standardisation, the International
Business Council released the ESG
Reporting Metrics and Disclosure
Mutual Fund Insight February 2021 31
 COVER STORY
Standards in September 2020,
developed in collaboration with
Deloitte, EY, KPMG and PwC. The
standards include 21 core and 34
expanded metrics and disclosures
that are aligned with the United
Nations’ Sustainable Development
Goals (established in 2015)
pertaining to the ESG domain.
However, it would take a while
before they are universally
accepted and improved upon over
the years.
So, for an ESG-conscious
investor, this means that until all
such issues are taken care of,
investing for a ‘higher cause’ may
not be fully rooted in reality.
Performance
The primary goal of any
investment decision is to generate
sufficient returns for a given
,:.]PZH]PZT\S[PJHWZ
There is a fair representation of stocks of ESG fund portfolios in their multi-cap counterparts of the same AMCs.
ESG funds
Axis ESG Equity Fund
ICICI Prudential ESG Fund
Quant ESG Equity Fund
Quantum India ESG Equity Fund Quantum Long Term Equity Value Fund 15
SBI Magnum Equity ESG Fund
32 Mutual Fund Insight February 2021
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
degree of risk. Given the risk that
equity investors take, it’s
understandable that they would
want their funds to be ahead of
the rate of inflation at least. So,
ESG funds should also be able to
fulfil these expectations. However,
given that the ESG funds available
in India today have a limited
history, we can’t comment on
their track record.
The proponents of ESG funds
highlight that such funds invest in
companies with sustainable
models. As the human society
progresses, such businesses have
better chances of surviving and
growing. In the Indian scenario,
where foreign investors play a
crucial role in market movements,
sustainable businesses can also
attract more of foreign capital.
Clean governance would mean that
raising capital would be relatively
easier for such businesses. Finally,
such stocks should also be less
volatile as their ownership would
be in stronger hands.
On the flip side, one should
take the promise of ESG funds
with a grain of salt. According to
the IMF’s Global Financial
Stability Report published in
October 2019, funds that are
marketed as ‘sustainable
investment funds’ may need to
Multi-cap funds
Axis Multicap Fund
ICICI Prudential Multicap Fund
Quant Active Fund
SBI Magnum MultiCap Fund
sound moderate while claiming
any outperformance over their
conventional peers as there was no
conclusive evidence of one being
superior to the other in terms of
delivering returns for its investors.
Additionally, correlation should
not be considered as causation.
Stocks with superior ESG standing
might have performed better, but
that does not mean their
outperformance could solely be
attributed to the ESG
phenomenon.
A unique investment
opportunity?
Are ESG funds really unique or
does your plain-vanilla multi-cap
(now flexi-cap) also has enough of
ESG plays. To check this, we
compared the five available ESG
funds with their multi-cap
Net asset of multi-cap fund made
No. of overlapping stocks up by the overlapping stocks (%)
11 zzzzzz 50.02
zzzzz
11 zzzzzz 29.45
zzzzz
11 zzzzzz 20.74
zzzzz
zzzzzzzz 39.07
zzzzzzz
17 zzzzzzzzz 54.1
zzzzzzzz
Data as of November 2020
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
 COVER STORY
counterparts of the same AMC
(except for Quantum where we
considered its value-oriented fund
which is a comparable diversified
option). See the table ‘ESG vis-a-
vis multi-caps’.
We see that the that number of
overlapping stocks between the
ESG funds and their multi-cap
diversified counterparts ranges
from 11 to 17 and the net asset of
this overlap in the multi-cap funds
varied from around 21 per cent to
significant 54 per cent.
Further, when we compared the
ESG fund portfolios with those of
multi-cap funds, the 10 stocks
;VW,:.Z[VJRZPU0UKPH
Here are the top 10 stocks occurring among all
the possible combinations of portfolio overlap
between the five ESG funds and 54 multi-cap
funds as per Value Research classification.
Overlapping No. of overlap combinations
stocks (out of 270)
HDFC Bank 200
Infosys 153
Bharti Airtel 150
Kotak Mahindra Bank 124
TCS 116
Hindustan Unilever 112
HDFC 100
ICICI Bank 94
Axis Bank 90
HCL Technologies 81
Data as of November 2020
with the maximum overlap were
majorly large caps, most of which
belong to the financial and
technology sector (see the chart
‘Top 10 ESG stocks in India’).
These would find a place in the
portfolio of any good equity fund.
Additionally, some prominent
AMCs such as SBI and Kotak have
also established ESG framework at
the fund house level, not just
limiting it to ESG funds.
Thus, we find that there is a fair
34 Mutual Fund Insight February 2021
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
representation of ESG stocks, as
determined by their selection in
ESG funds, among the existing
multi-cap funds. As the tailwinds
for ESG picks up in India, this
overlap in more diversified
categories should only increase.
This trend may be further fuelled
by the fact that more and more
companies will start becoming
responsible, thus bringing a bigger
proportion of the listed market cap
in the country under the ESG
radar.
So where does it take us?
The world’s preparedness towards
the handling of a pandemic-like
situation was found wanting when
an actual pandemic hit us last
year. This has strengthened the
case for a better handling of
matters relating to climate change
as its effects would be more long-
lasting and in certain cases
irreversible, with no ready
solution. Thus, ESG factors are
being looked at more seriously
from a risk-mitigation perspective.
The ESG phenomenon could
also help develop a responsible
attitude among businesses towards
the environment, society and a
cleaner way of operating. This
attitude can then percolate down
the entire value chain. This will
help create goodwill and safeguard
against any regulatory backlash in
the future. While some may fret
about higher regulations and
disclosures creating hurdles in the
smooth functioning of businesses,
one must understand that not
having them could be an even
bleaker proposition.
ESG is certainly much bigger,
broader and more diverse than the
kind of thematic funds we’ve had
so far. Unlike other themes, we
may not be as apprehensive about
ESG’s rationale as a steady-state
part of your portfolio. But one
shouldn’t make investing decisions
based on just these parameters.
The ESG factors need to be a part
of a broader investment framework
and risk-assessment strategy so
that one can safeguard against any
unfavourable outcomes. Thus, as
an investor, you need to assess
whether ESG funds offer any
unique investment opportunity
that is not offered by your plain-
vanilla diversified funds.
In its current form, ESG may
not provide a distinct edge.
Further, we have limited data on
which to base our decisions. But
as more companies become ESG-
conscious, investment
management teams would
automatically embrace ESG in
their investment-evaluation
approach. And if the superior
performance claims of ESG do
materialise, then a higher degree of
representation of such companies
would naturally be there in
mainstream diversified funds.
After all, more companies which
are genuinely responsive towards
the environment and society are in
everybody’s interest.
Till that time is it better to stay
on the sidelines and watch this
trend unfold. One can continue
investing in good diversified funds
that have all of the bases covered
in terms of risk, whether ESG-
related or not.
 CATEGORY WATCH
On a cleaner slate
Taking a lesson from the previous episodes of defaults and downgrades, short-
duration funds have been able to move ahead tidier
W
ith the idea of making
life simpler for
investors, SEBI’s
reclassification exercise, in
hindsight, puzzled investors by
creating several categories of debt
funds. Of all these 16 categories,
we have always held the view that
short-duration funds are quite
suitable for a retail investor’s core
debt portfolio. As on December 31,
the category managed to deliver an
average one- and three-year
returns of about 8.96 per cent and
6.67 per cent, respectively.
Even though the category was
hit during the credit crisis of 2018,
it is on our preference list because
of some valuable reasons. The first
and foremost reason is short-
duration funds’ reasonable
flexibility to invest across different
kinds of debt investments. Second
is their limited flexibility to take
duration calls, as they need to
maintain a Macaulay duration
between one and three years. The
third point is that their direct
plans have fairly reasonable
expense ratios. In fixed-income
funds where the returns are not
very high, expenses can take away
a big chunk.
The AUM story
It has been over two years since
the IL&FS crisis happened and the
category has been able to win back
investors’ interest. In the last one
year, debt mutual funds have
witnessed a modest increase of 24
per cent in assets, while the
category’s total AUM has risen by
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
82 per cent. The short-duration
.VPUNZ[YVUN
category has been raking in money
After a drop in the aftermath of the IL&FS
crisis, the category’s assets have risen over as can be seen in the graph titled
80 per cent in the last one year. ‘Going strong’.
1,55,000 in ` cr
Cleaning the mess
1,35,000 When it comes to short-duration
1,15,000 funds, the credit quality is left at
the discretion of fund managers. In
95,000
the aftermath of the IL&FS crisis,
75,000 these funds were hit hard.
However, given the risk aversion
55,000
we saw in early 2020, the funds
Jan 2016 Nov 2020
have cleaned up their portfolios.
Look at the graph titled ‘Changing
*OHUNPUNYPZRH[[P[\KLZ risk attitudes’. While the years
The category has been considerably reducing
2018 and 2019 saw many short-
exposure to lower-rated papers while increas-
ing the exposure to G-secs. duration funds moving out of
sovereign bonds and shifting
35 % of AUM
Average SOV exposure towards lower-rated papers in
28 Average exposure to AA and below pursuit of returns, 2020 saw the
category triple its investment in
21
government securities and lower-
14 rated exposures hit rock bottom.
7
Having said that, some funds have
never drifted in their risk
0 assumptions and have always been
Jan 2017 Nov 2020
quality-focused.
6UHOPNO Duration management
Short-duration funds have been increasing Although these funds have to
allocation to longer-duration bonds of over
maintain the overall portfolio-level
three years.
duration within a tight band of one
40 In %
year to three years, they still have
35 the flexibility to go beyond the
three-year maturity limit at the
30
bond level as long as the overall
25 duration stays within the
mandated range. In the aftermath
20
of the pandemic, the central bank
15 has been taking various easing
Nov 2018 Nov 2020 measures, including cutting
Note: Median monthly allocation interest rates. Now as the gap
Mutual Fund Insight February 2021 35
 CATEGORY WATCH

between the yields of long-term 4LKPHUL_WVZ\YL[V:6=;IPSSZ

and short-term bonds has The flexibility of short-duration funds to invest in any type of bonds became quite valuable when other
widened, short-duration funds are categories had to take SEBI’s permission to increase SOV/T-bills exposure amid strained liquidity.
increasing allocation to longer- 36 % Short duration Corporate bond Banking and PSU Credit risk
duration bonds. The graph titled
‘On a high’ highlights the same. 30

Our interaction with fund 24

managers has revealed that this
trend is likely to stay for some 18

time, as better yields of long- 12

duration bonds are a viable option
to prop up the returns a bit. 6

Liquidity management
The flexibility of short-duration
funds to invest in any type of bond
is fairly valuable and has also been
validated recently. In mid-2020,
amid strained liquidity in the
corporate bond markets, while
AMCs had to take SEBI’s
permission to make additional
investments in treasury bills and
government securities across their
corporate bond, banking and PSU,
and credit-risk funds, short-
duration funds were comfortably
taking suitable exposures. Thus,
liquidity management has been
better here. Look at the graph
titled ‘Median exposure to SOV/T-
bills’ to gain more insights.
In view of this, SEBI has
mandated all debt funds,
excluding overnight, liquid, gilt
and gilt funds with 10-year
constant duration, to have a
minimum 10 per cent exposure to
such liquid assets. Aimed at
enhancing the liquidity of
portfolios across the board, the
rule will come into effect from
February 1, 2021.
Resetting expectations
Even though some short-duration
funds saw negative returns in
some years (look at the graph
‘Returns across the years’), the
overall category has mostly
0
Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20
9L[\YUZHJYVZZ[OL`LHYZ
Though short-duration funds have given decent returns in the past, amid falling interest rates, one
needs to lower one’s return expectations now.
15 % Minimum
10
5
0
-5
-10
-15
2010 2011 2012 2013 2014
managed to give decent returns.
2019 was an anomaly with broad
return variations across funds.
However, most funds generated
lucrative returns in 2020 returns
due to the rate cuts and easing
measures by the RBI over the past
months.
But it is important for investors
not to get carried away by these
performance numbers, as they are
unlikely to be repeated in the near
future because the appreciation
that had to happen owing to the
interest rates coming down has
already happened. If you look at
the current net yield to maturity
across the category, it is under 5
per cent, on average. As the RBI
has communicated that it is going
Jul-20 Aug-20 Sep-20 Oct-20 Nov-20
Median Maximum
2015 2016 2017 2018 2019 2020
to maintain its accommodative
stance well in the next financial
year, it will be optimistic to expect
even a 6 per cent return from a
high-quality short-duration fund in
the next one year. So, we have to
lower our expectations here.
Conclusion
A retail investor’s core debt
portfolio must be able to check off
the boxes of safety, reasonable
returns, broader investment
universe, low risk and volatility. As
the experience from the last two
years suggests that outlying returns
always come with higher risks, it is
important to be conservative with
the return expectations from your
debt allocation.

36 Mutual Fund Insight February 2021

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 We believe that short-duration lower currently, it is better not to for lower returns but keep an eye
funds can fit your bill of core debt put your capital at risk for a on quality. Read ahead for our
holdings. Although the yields are marginally higher return. So, settle selection of short-duration funds.

List of short-duration funds

REGULAR PLAN DIRECT PLAN
Rolling returns (%) Expense Quartile ranking Rolling return (%) Expense Quartile ranking Assets Credit
Fund Rating 1Y 3Y (%) ’18 ’19 ’20 Rating 1Y 3Y (%) 18 ’19 ’20 (` cr) quality

Aditya Birla Sun Life Short Term Fund  9.06 7.55 1.13  9.82 8.26 0.43 8,532 AAA

Axis Short Term Fund  10.20 7.56 1.01  10.92 8.30 0.3 14,362 AAA

Baroda Short Term Bond Fund  8.27 7.93 1.04  9.01 8.69 0.27 591 AAA

BNP Paribas Short Term Fund  9.05 7.07 1.05  9.91 7.73 0.35 510 AAA

BOI AXA Short Term Income Fund  -8.22 2.93 1.10  -7.71 3.70 0.53 30 AAA

Canara Robeco Short Duration Fund  8.80 7.18 1.02  9.54 7.98 0.42 1,044 AAA

DSP Short Term Fund  9.50 7.05 0.95  10.26 7.88 0.3 3,775 AAA

HDFC Short Term Debt Fund  10.51 7.90 0.77  10.75 8.07 0.24 16,907 AAA

HSBC Short Duration Fund  1.62 4.82 1.29  2.60 5.81 0.29 274 AAA

ICICI Prudential Short Term Fund  10.24 7.63 1.16  11.07 8.50 0.4 22,802 AAA

IDBI Short Term Bond Fund  4.31 5.62 1.30  5.01 6.70 1 22 AAA

IDFC All Seasons Bond Fund  10.74 7.50 0.49  11.17 7.95 0.11 151 AAA

IDFC Bond Fund Short Term Plan  9.89 7.43 0.80  10.45 7.98 0.28 13,668 AAA

Indiabulls Short Term Fund  4.86 6.90 1.43  6.04 8.07 0.13 27 AAA

Invesco India Short Term Fund  9.56 6.89 1.25  10.49 7.70 0.4 1,278 AAA

Kotak Bond - Short Term  9.87 7.36 1.14  10.77 8.29 0.34 19,164 AAA

L&T Short Term Bond Fund  9.81 7.39 0.75  10.34 7.93 0.25 4,450 AAA

LIC MF Short Term Debt Fund  8.60 - 1.44  9.75 - 0.39 533 AAA

Mirae Asset Short Term Fund  9.00 - 1.17  9.85 - 0.3 728 AAA

Nippon India Short Term Fund  9.42 7.13 1.25  10.29 7.83 0.33 8,971 AAA

PGIM India Short Maturity Fund  7.08 5.41 1.46  7.90 6.32 0.76 42 AAA

Principal Short Term Debt Fund  4.13 5.29 1.03  4.59 6.08 0.59 143 AAA

SBI Short Term Debt Fund  9.88 7.40 0.84  10.43 8.01 0.34 22,429 AAA

Sundaram Short Term Debt Fund  2.35 4.76 1.01  3.02 5.72 0.28 137 AAA

Tata Short Term Bond Fund  9.61 5.57 1.23  10.62 6.48 0.28 3,931 AAA

UTI Short Term Income Fund  4.82 5.18 0.95  5.25 5.69 0.43 3,302 AAA

Performance Top quartile Second quartile Third quartile Bottom quartile

Consistency: = Among top 25% in the category = Among top 25–50% in the category = Among bottom 25–50% in the category = Among bottom 25% in the category
The left-most bar in a series represents the fund’s performance in the first quarter of a calendar year. Similarly, subsequent bars represent the fund’s performance in second, third and last quarters of the calendar year.
Funds marked in this colour are our recommended funds. Expenses, assets and credit quality as of Nov 30, 2020. Other data as of Dec 31, 2020.
Funds suspended for sale have also been excluded.

Mutual Fund Insight February 2021 37

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 FUND
5(*8/$5 ',5(&7

$;,66+2577(50)81'  

ANALYST’S
CH ICE Consistent performer
The fund aims to deliver consistent numbers with
calculated exposure to lower-rated papers
*YLKP[X\HSP[` Why we like it cern. But that was put to rest, as the
The fund’s portfolio mostly comprises Reasonable expenses and capped non- AUM rebounded more than 100 per
G-secs and AAA rated papers, with AAA exposures make this fund worth- cent within just six months. With its
almost nil exposure to lower-rated ones. while. It sticks to a high-quality portfo- current AUM (as of November) at
125 % Fund: AAA/SOV/A1+ Fund: AA and below
lio to earn consistent returns. Devang around `14,000 crore, the fund is now
Category: AAA/SOV/A1+ Category: AA and below Shah, Deputy Head-Fixed Income, the fifth largest in the category.
100 Axis Mutual Fund, has been managing With its exposure to the top three
75
this fund for around eight years. issuers at an average level of 25 per
Broadly, in any one-year period cent over the last two years, the fund
50 since 2013, this fund would have has mostly remained within the medi-
25 given you an average return of about 9 an concentration level of the category.
per cent, with the minimum and maxi-
0 mum return oscillating somewhere What to expect from it
Nov 2015 Nov 2020
between 4–12 per cent. With a measured exposure to less than
Further, this five-star fund has out- AAA rated bonds, the fund is capable
paced both the benchmark and peers of optimising returns without going
6UL`LHYKHPS`YVSSPUNYL[\YUZ on the one-, three- and five-year basis. overboard on risk.
In any one-year period since 2013, this Its direct plan comes with an expense
fund would have given you an average ratio of 0.30 per cent, which is lower
return of about 9 per cent.
DEVANG SHAH,
than the expenses of most peers. Deputy Head – Fixed Income,
14 % Direct plan Category median At the AMC level, Axis Mutual Axis Mutual Fund
Fund ranks among the top 10 debt
12
asset managers, with over `85,000
10 crore of debt assets in its kitty (as of
November 2020).
8

6 How it is managed
Nearly, 75–80 per cent of its portfolio
4
Jan 2014 Dec 2020
on average is devoted to AAA rated
corporate bonds, while exposure to
lower-rated papers is regulated and
doesn’t go beyond 10–13 per cent. The
(<4
rest is parked in sovereign bonds and
After dipping in July 2019, the fund’s
cash equivalents.
assets have gone up significantly.
Axis Mutual Fund, by and large, has
15 In ` ’000 cr been able to steer clear of the default
12 mess except for exposure to DHFL. This
fund had a small exposure of around
9 0.5 per cent of AUM (in May 2019) to
6 DHFL, which had to be written down.
The fund’s sustained drop in AUM
3
from close to `8,000 crore in
0 November 2017 to just over `2,000
Jan 2010 Nov 2020 crore by July 2019 was a bit of a con-

38 Mutual Fund Insight February 2021

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 FUND
5(*8/$5 ',5(&7

+')&6+2577(50'(%7)81'  

ANALYST’S
CH ICE A balancing act
Adding a measured dose of risk to its portfolio, this
fund has consistently balanced risk and return
Why we like it What to expect from it
A high-quality portfolio, good returns The high-quality portfolio of the fund
and relatively low expenses are the gets you good returns without going
key characteristics of this fund. Anil overboard on risk. This combination
Bamboli has been managing the fund has the makings of a good core
since its beginning in 2010. fixed-income holding.
At a time when the debt-fund This fund tries to optimise the
industry has grown by around 11 per risk-reward ratio a little bit more to
cent annually over the past three give you better returns with a mea-
years, the fund house has seen its debt sured dose of aggression on both credit
AUM rise by about 25 per cent during and duration sides.
the same period. Currently, the fund If you are looking for a much more
house is the largest debt fund manager conservative fund, of course, there are
in the country. others in our selection which could be
better off. But bear in mind that you
*YLKP[X\HSP[` How it is managed should have more moderate return
The fund keeps up to 80 per cent of its Delivering healthy returns to its inves- expectations from those funds.
assets in high-quality papers. It doesn’t tors, the fund navigates well through
ANIL BAMBOLI,
shy away from lower-rated exposure. risk. While it doesn’t shy away from
Senior Fund Manager – Fixed Income,
lower-rated exposure, such exposures
100 % HDFC AMC Ltd.
are well contained and don’t usually
80 go beyond 10–12 per cent.
The exposure to securities rated
60
below AA is limited and taken on a
40 Fund: AAA/SOV/A1+ Fund: AA and below selective basis. Across the one-year
Category: AAA/SOV/A1+ Category: AA and below period of its existence, the fund has
20
given a minimum of 5 per cent and a
0 maximum of 12 per cent return.
Nov 2015 Nov 2020 By and large, the fund has been able
to avoid credit events, except for a
small exposure to an offshoot of IL&FS
6UL`LHYKHPS`YVSSPUNYL[\YUZ
aggregating to about 0.7 per cent of
Across one-year periods of its
existence, the fund has given returns AUM (in September 2018). Over the
between 5 and 12 per cent. last two years, the fund has reduced
its concentration to top three issuers
14 % Direct plan Category median
from around 30 per cent to just over
12 20 per cent. This has placed it among
the less concentrated funds in its cate-
10
gory. The fund has always maintained
8 a strict maturity range, with the portfo-
lio maturity staying within one year to
6
two years. Of late, the fund has started
4 extending it towards the higher end of
Jan 2014 Dec 2020 three years.

Mutual Fund Insight February 2021 39

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 FUND
5(*8/$5 ',5(&7

,')&%21')81'6+2577(503/$1  

ANALYST’S
CH ICE Disciplined to the core
The fund may not deliver smashing numbers at all times
but promises an unrelenting focus on quality
Why we like it What to expect from it
There are three reasons why we like What you get in this fund are style
this fund and more specifically, the purity and a high-quality bond portfo-
debt franchise at IDFC: the AMC’s lio, along with the superior skills of its
well-defined investment mandates fund manager, Suyash Choudhary.
across debt products; its sharp focus Don’t expect this fund to be a chart-
on quality and the discipline to stick buster but it is unlikely to deliver a
to it; and the strong credit-appraisal nasty surprise when the markets hit a
practices at the fund house. The fund rough patch. In any case, in the
has lower expenses than most of its short-duration category, funds can vary
peers. As a fund house, IDFC has widely on their credit profiles across
steered clear of all defaults and down- market cycles. This makes it difficult
grades since the IL&FS episode. Over to compare funds. So, don’t be disap-
the last one year, IDFC’s debt assets pointed if you see this fund trail its
*YLKP[X\HSP[` have increased by close to 30 per cent peers during economic booms.
to over `95,000 crore(as of November
The fund invests almost all of its assets
in top-rated papers. 2020).
SUYASH CHOUDHARY,
Head – Fixed Income,
125 % Fund: AAA/SOV/A1+ Fund: AA and below
Category: AAA/SOV/A1+ Category: AA and below
How it is managed IDFC AMC Ltd.
100 One of the oldest funds in the category,
its unwavering focus on quality at
75
times makes it lag behind its more
50 aggressive peers in terms of returns.
However, 2019 was an exceptionally
25
good year, since the fund stayed the
0 course even when some of its peers had
Nov 2015 Nov 2020 to contend with write-offs. The focus
on quality can also increase a portfo-
lio’s concentration. Such is the case
4H[\YP[`IYLHR\W
with this fund as well. The top three
While the category has the flexibility to issuers usually account for over a third
go beyond the three-year tenure at the
individual-bond level, this fund barely
of its portfolio. But given its quality
goes beyond the three-year mark. focus, the default risk is low.
Short-duration funds’ mandate to
Fund Category average
maintain Macaulay duration of three
74.63 Percentage of AUM
years is applicable at an overall portfo-
lio level. At an individual-bond level,
45.68 they have the flexibility to go beyond
the three-year tenure as long as the
22.77
18.75
maturity of the overall portfolio stays
17.56
within three years. But this fund bare-
ly goes beyond the three-year mark
1–3 yrs 3–5 yrs Over 5 yrs even at the individual-bond level,
Based on the November portfolio highlighting its disciplined approach.

40 Mutual Fund Insight February 2021

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 FUND
5(*8/$5 ',5(&7

/ 76+2577(50%21')81'  

ANALYST’S
CH ICE Focus on quality
Stability of returns, coupled with an unwavering focus
on quality, makes this fund a reliable investment
*YLKP[X\HSP[` Why we like it ably since the unfolding of credit
This fund is quality-focused, which can This fund primarily invests in a judi- events in 2018.
be seen by its bias towards high-quality cious mix of top-rated short-term debt From a liquidity perspective, the
papers. and money-market instruments, with period between March and April 2020
125% Fund: AAA/SOV/A1+ Fund: AA and below
no exposure to low-rated papers. As a was perhaps the most testing time, but
Category: AAA/SOV/A1+ Category: AA and below result, the fund hasn’t faced any this fund didn’t have to resort to any
100 write-offs. borrowings.
75
The fund can be considered as a The fund maintains its average
good option for your short-term invest- maturity within the mandated range of
50 ment needs of one to three years. Over one year to three years. As per the lat-
25 any one-year period, this fund would est disclosure, its direct plan costs just
have given you a minimum of over 4 0.25 per cent, ranking it among the
0 per cent and a maximum of 12 per least-expensive ones available.
Nov 2015 Nov 2020
cent. If you stretch the period to three
years, the minimum returns stand at What to expect from it
6UL`LHYKHPS`YVSSPUNYL[\YUZ about 7 per cent. Go for it for its ability to consistently
Over any one-year period, the fund’s
deliver above-average returns with a
returns have stayed between 4 and 12 How it is managed top-quality portfolio and its disci-
per cent. The fund’s unflinching focus on quali- plined approach.
ty is a standout feature
14% Direct plan Category median
even as many peers have JALPAN SHAH, SHRIRAM RAMANATHAN,
12 been allocating to Fund Manager - Fixed Income, Head – Fixed Income,
high-yielding, lower-rated L&T Mutual Fund L&T Mutual Fund
10
bonds in pursuit of
8 returns. The fund’s disci-
plined approach can be evi-
6
denced by the category’s
4 heightened exposure to low-
Jan 2014 Dec 2020 er-rated papers during early-
2018 as against zero exposure
to such papers by this fund.
(<4
Despite such a strong quality
The asset size has risen considerably
focus, the fund stays comfortably
since the unfolding of credit events in
2018, thanks to a shift to quality. ahead of an average peer. A good
candidate for your core debt
6 In ` ’000 cr portfolio, this fund pro-
5 vides both stability and
quality.
4
As a result of its
3 quality orientation, the
fund hasn’t witnessed
2
any write-downs in its
1 holdings and the asset
Mar 2012 Nov 2020 size has risen consider-

Mutual Fund Insight February 2021 41

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 THE PLAN

Should I book profits as my investments

have gone up substantially?
Experiencing significant gains from the recent market rally, Smita feels that ‘timing
the market’ is an easy and good strategy. Here is why she should avoid doing so.
Smita (28) works with a multimedia company investments has gone up by about 40 per cent.
and has a monthly in-hand salary of about She wants to know whether or not she
`50,000. She invested `1 lakh in equities in should book profits by redeeming her
March when the stock market crashed. With investments. And if so, what proportion of the
the markets having recovered sharply over the investments she should withdraw. Here are
past few weeks, the value of her equity some suggestions for her.

YOU CANNOT MISSING THE ‘BEST’ DAYS OF THE MARKET CAN COST YOU DEARLY
‘TIME THE z Market movements are unpredictable and when z Even missing out on a handful of
MARKET’ you try to time the market, it is quite possible for days when the stock market is at its
PERFECTLY you to miss out on some of the best days when the best can reduce the value of your
EVERY TIME stock market makes maximum gains. long-term money significantly.
z Smita has been z Look at the graph titled ‘Sensex’s annual z Similarly, as shown in the graph
lucky that the stock returns’. The annual return of the Sensex titled, ‘Worth of `1 lakh invested in
market recovered depletes significantly if you remove the best five the Sensex 15 years ago’, one would
sharply soon after she days on which the Sensex made maximum gains. have lost about `1.86 lakh if one
made the investment had missed staying invested on the
during the crash in :LUZL_»ZHUU\HSYL[\YUZ five best days of the Sensex over
Missing to stay invested during the top five days based on daily
March. Now, it may returns may cost you dearly. the last 15 years.
give her an impression z Staying invested throughout the year
that the ‘timing the z Missing to stay invested during the top five days based on daily returns >VY[OVM`SHROPU]LZ[LKPU
market’ is an easy
80 [OL:LUZL_`LHYZHNV
60 Missing the days when the market gave good returns
thing to do and indeed can result in a diminished corpus over the long term.
a good strategy. 40 5,02,340
20
z But that’s not right. 3,15,884
0
The market moves 2,31,779
-20 1,75,666
unpredictably and no 1,34,714

one can time it -40

perfectly. Recall that -60 Staying Missed 5 Missed 10 Missed 15 Missed 20
no one had anticipated -80 invested best days best days best days best days
2000 2020 throughout
that the market would *15-year period ending on November 30, 2020
recover so soon and so
sharply after the crash z If considered from the long- z As you would z One may argue that it is not
in March. But it did. term perspective, missing out notice in the necessary that an investor only
z Smita should on a single day just to time the graphs, staying misses the ‘best days’ as there
consider this as a one- market will deprive you of not invested is are ‘worst days’ too, when the
off instance. It would only single-day gains but also much better stock market plunges.
be wrong to expect the benefit of compounding, than facing the However, the truth is that no
such returns from which you would have earned risk of missing one knows which is the best or
equity investments in on the gains realised on the even a handful worst day of the stock market
the future. missed day. of days. until it becomes history.

42 Mutual Fund Insight February 2021

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 DON’T REDEEM IF YOUR GOAL IS FAR AWAY
z Equities are meant for z One should stay invested throughout z Smita should, therefore, remain
investors having a time the tenure and avoid making invested and avoid redeeming the
horizon of at least five unnecessary transactions. You will gain investments if she doesn’t need
years. Do not invest in maximum benefits from equities if you the money now. She can link
them if you are likely to stay invested for a longer time period, as these investments to any of her
need the money before that. you get to benefit from compounding. long-term goals like retirement.

NEVER INVEST
IN A LUMP SUM
z Although Smita has been lucky
this time, she should not have made
any lump-sum investments. What if
the market would have crashed
further, say by 40 per cent, instead of
moving up? Her investment would
have reduced to just `60,000.
z While investing in equities, one
should always spread the
investments over a period of time.
Investing systematically through an
SIP or STP reduces the risk of
entering the market at the wrong
level, as the purchase cost is
averaged out.
z If you have a lump-sum amount, it
should be spread over a few months.
A rule of thumb is to spread it over
half the time required to earn that
money, up to a maximum of three
years.

FOLLOW AN ASSET-ALLOCATION PLAN DON’T IGNORE THESE

z Having an asset-allocation z For example, if Smita decides a Emergency corpus: Always maintain
plan in place helps you book 75:25 allocation between equity and a contingency corpus equivalent to
profits in a systematic and fixed income and now as the markets at least six-month expenses. It can
methodical way. have gone up, she may liquidate 25 be maintained in a combination of
per cent of the portfolio and invest it a liquid fund and sweep-in deposit.
z Devise a rule for
in fixed income. Likewise, if the
rebalancing, say, you will Life insurance: Buying life
rebalance at the end of every market crashes and the ratio
insurance is necessary only if you
financial year, or whenever becomes 60:40, she should liquidate
have financial dependents. Go for
the asset allocation deviates 15 per cent of the portfolio from the
term insurance. Stay away from
by more than 10 per cent of fixed income and invest in equities
hybrid insurance products which
the desired ratio. to again make it 75:25.
claim to solve the dual purpose of
investment and insurance. They
(UPUKPJH[P]LHZZL[HSSVJH[PVUWSHU provide neither adequately.
Years 1 2 3 4 5
Health insurance: Have sufficient
How far is health cover for everyone in your
the goal <18 months 18 months to 2 yrs 3-5 yrs 5+ yrs
family and it should be independent
z Equity
z Fixed-income 100 25 75 50 50 75 25 of the one provided by your
(in %) employer.

Mutual Fund Insight February 2021 43

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 ASK
EXPERT ADVICE
The `1 lakh tax-exemption
window
What are your thoughts on utilising the `1
lakh tax-exemption window on long-term cap-
ital gains? When is it appropriate to use it?
– RAVI VOGETI
Value Research There could be several reasons for
Premium redemption: rebalancing, switching from
membership regular to direct plan, consolidating your
provides all the mutual fund portfolio or exiting from a
details of the poor-performing fund. It would be worth-
while to pay attention to the applicability
applicability of
capital gains tax of your long-term capital-gains tax while
redeeming, irrespective of the reason.
on each of your
If you are not in a hurry to redeem and
holdings staggering your redemption over a period
of a few months can save you from a cer-
tain amount of tax liability, then it would
make sense to do that. In fact, Value
Research Premium membership will pro-
vide all the details of the applicability of
capital gains tax on each of your hold-
ings. So, you can make use of it.
The interest-rate trajectory
Due to the loss in equity funds during the
COVID-19 period, I switched to banking and
While making PSU and short-term bond funds. Low interest
your investment rates may prevail until March 2021. So, do
or asset- you expect the interest rate to go up after that
allocation and if so, which type of fund should I opt for
decisions, you to get reasonable returns without any loss?
should be far – BALA K
more focused on It’s very difficult to predict the trajectory
factors that are in as well as the direction of interest rates
your own control with precision. The RBI has clearly com-
rather than on municated its continued accommodative
macroeconomic stance, which it wants to carry well in
the next financial year. But on the flip
factors
side, inflation has been at an elevated
level. Also, economic growth has been
better than expected. So, there are lots of
factors at play here.
44 Mutual Fund Insight February 2021
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
While making your investment or
asset-allocation decisions, you should be
far more focused on factors that are in
your own control rather than on macro-
economic factors. So, you should really
be focusing far more on factors like your
goals, your time horizon, your risk appe-
tite and these things would throw up
more definitive answers about where you
should be investing and what your asset
allocation should be.
Nasdaq 100 ETF or FOF?
I plan to invest in the Nasdaq 100 ETF. Do
you suggest the ETF variant or the FOF
variant? I have a demat account. Which
one is better with respect to liquidity, return
and safety?
– NISHAN
Both the ETF and fund of fund (FOF) vari-
ants of this fund are investment-worthy.
Typically, mutual fund investors prefer the
FOF route as it saves them from the hassle
of opening a trading and demat account.
But since you already have a demat
account, you can go ahead and invest in
the ETF variant. In fact, that will save you
from the additional expenses of an FOF.
Barring the slight difference due to the
expense ratios of both the variants, the
returns will be similar because the under-
lying portfolio is the same. As far as safety
is concerned, these are equity investments
and hence there is no guarantee of any
kind. But hopefully, they should be
rewarding over a long timeframe.
As for the liquidity, there is no concern
in the case of the FOF variant because the
AMC stands committed to honouring the
redemptions at the applicable NAV on any
given day. The ETF is also able to generate
sufficient liquidity and trading volume on
the stock exchange on a day-to-day basis.
Time to sell?
I have been investing in multi-cap funds
for the last five years through SIPs and my
goal is roughly 10 years away. Since the
markets have gone up, is this the time to re-
deem them, book profits and put the money
in bank deposits?
– SATISH
You should decide on an asset allocation
for yourself. The asset allocation will
depend on how close you get to your goal.
Since you are very far from your goal, put
one-third of your money in fixed income
and the rest in equities.
After five to seven years, you may make
it 50:50 and as you get even closer to the
goal, say two years away from it, have 75
per cent in fixed income and about 25 per
cent in equities. That way, you will be able
to de-risk yourself and automatically book
profits in a systematic manner. Ten years is
a long period and there will be at least two
market cycles in this duration. If you put
all your money in fixed income, you will
be completely deprived of the gains.
Avenues for fixed-income
investing
Banks have already reduced interest rates
on fixed deposits and nowadays, most
advisors are saying that debt funds are also
risky. So, where should one invest for the
fixed-income part of the portfolio?
– SHANMUGAM V
In March, we witnessed an unprecedented
combination of events. This scared the
markets and investors. Then six debt
funds of Franklin Templeton had to be
shut down, which further dented the con-
fidence of fixed-income investors.
A webinar series to discuss
savings and investment issues
and answer your questions
To post your query, visit: www.ValueResearchOnline.com/Hangouts
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However, these complications don’t mean
that debt funds are not worth investing in. In debt funds,
These incidents have just revealed the
high returns
inherent risk in debt-fund investing which
often come
was always there but which had seldom
from taking high
materialised in this quantum.
So, you must choose funds carefully.
risk, so avoid
Investors should optimise their fixed-in- short-term
come returns but that doesn’t mean that performers
one should be embracing or inviting risks.
So, if you are careful, that itself will help
reduce risks.
One piece of advice: when investing in
a debt fund, never choose the best-per-
forming one in the recent time period.
That’s because in debt funds, high returns
often come from taking high risk.
Too many funds
I have a habit of investing in too many funds
of the same category as I am very con-
servative. But what’s wrong with this if I can
easily manage to track all of them?
– AMLAN BASAK
When you invest in an actively man-
aged fund, you are paying a management
fee to the fund manager for beating the When you invest
market. And when you invest in 25–30 in 25–30 funds,
funds, your portfolio ends up being an your portfolio
index fund at the fundamental level. ends up being
About 30–50 per cent of the stocks in all an index fund at
your funds would be the same. So, the the fundamen-
alpha or extra return over the risk tal level
assumed by the fund manager is lost.
Further, if you invest in a few funds,
they hold a larger share of your total
wealth and you get more interested in
them. A poor performance will prompt
you to take the necessary action. And a
great performance will please you.
An Investor Education & Awareness Initiative by
Mutual Fund Insight February 2021 45
 DON’T PUT OFF
TAX SAVING TILL
THE LAST MINUTE

E veryone knows that spending sensibly and saving

regularly is key to financial security. Yet, many are not
able to save as much as they want to. People who fail to “The main problem with today’s
save, mostly have a steady income and are well-informed
about the importance of saving, yet they are victims of generation is that they never feel
their own aspirations. The emotions attached to money they have enough to save.”
decisions often makes cutting back on spending tough.
They simply cannot do the right thing and invest in
saving tax even though they often, feel guilty about not
doing it. But truth to be told, one needs to understand meet at different life stages. This efficient tax planning
that investing in tax-saving instruments is important not should ideally be done at the start of the year. To go easy
just for the time being but also for the long run.When one on the pocket, one can start something as simple as an SIP
invests in a tax-saving instrument, they save tax and at in ELSS. It ensures regularity and discipline of investment
the same time save up for the various goals they need to while serving the purpose of saving tax.

Benefits of Investing in Equity

ELSS Linked Savings Scheme (ELSS)
The smart way of
saving tax
Reduce Tax
+ Growth

Under Section 80C of the Liability Potential

Income Tax Act, ELSS helps Lowest Lock-in

Period
in tax savings of up to 64,116*
The individual is assumed to earn a taxable income of more than Rs. 5 Crore. The effective tax rate is 30% marginal tax + 37% surcharge on the tax rate + 4% Health and Education cess = 42.74% i.e. highest marginal
tax bracket. The individual is assumed to utilise the complete tax deduction limit of Rs.`150,000 per financial year under Section 80C. This deduction is allowed to an Individual or an HUF. This is only to illustrate the
tax saving potential of ELSS and is not a tax advice. Please consult your tax consultant for tax purpose. *This is applicable assuming the person is in the old tax regime. The Finance Bill, 2020 has proposed a New
Personal Tax Regime where most of the deductions/exemptions such as section 80C, 80D, etc. are to be foregone. This is however optional.

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

 Kotak Tax Saver Fund
An open-ended equity linked saving scheme that helps you save tax under Section 80C of Income Tax Act and aims
to generate long-term capital appreciation.

Of all the number of investment options that can give you tax-saving benefits, ELSS could play a role of an efficient tax
saving instrument from the view point of a working professional. It is considered to be an ideal tax saving instrument
offering potential capital appreciation along with tax benefits with the shortest lock-in period of
3 years. Investors can also avail SIP facility to spread out the period of investment over a long
period of time and utilize it to average the cost, which can reduce the tax incidence and may
garner competitive returns.

A Diversified Equity Fund

The fund follows a flexicap approach and it is not biased by market capitalization.

Offers Tax Benefits

Investments made in ELSS are eligible for a Tax Deduction of up to 1.5 lakh
under Section 80C of Income Tax Act. This benefit attracts new as well
Meet the Fund Manager
as experienced investors.
Mr. Harsha Upadhyaya
&KLHI,QYHVWPHQW2IͤFHU(TXLW\.RWDN$0&/WG.

Gateway to Equity
New to equity? ELSS can be an apt option to get Mr. Harsha Upadhyaya heads the equity desk at
yourself exposed to equity & the power of compounding. Kotak Mahindra Asset Management Company.
Harsha has over two decades of experience, spread
Lowest Lock-in across equity research and fund management.
There is a mandatory lock-in period for all major tax saving He completed his Bachelor of Engineering
investment schemes and plan. However, ELSS has the (Mechanical) from National Institute of Technology,
lowest lock-in period of just 3 years that is enough time to Surathkal, and holds a Post Graduate
instill discipline. Diploma in Management (Finance) from Indian
Institute of Management, Lucknow. He also holds
Comprehensive Investment Strategy Chartered Financial Analyst charter from the CFA
Emphasis on bottom-up stock selection with top-down Institute, US.
thematic overlay helps identify stock opportunities.

Kotak Tax Saver Fund

(An open-ended equity linked saving scheme with a statutory lock-in of 3 years and tax benefits)

Suitable for investors who are seeking*:

1. Long term capital growth with a 3 year lock-in period.
Investors understand that their principal
will be at very high risk 2. Investment in portfolio of predominantly equity & equity related securities.
An addendum may be issued or website
updated for new risk-o-meters *Investors should consult their financial advisor if in doubt about whether the product is suitable for them.
Advt.

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.

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 Subscribe
January 2021 `150

;OL>H`-VY^HYK
,W
VDWLPHIRUWRXJKFKRLFHVDQGKHUH
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Now
Insights into Indian mutual funds
Fund Analyst’s The Plan 42 Scoreboard 49
Choice 38 Which NPS Comprehensive
21 Your New Year’s resolution
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 SCOREBOARD FUND CLASSIFICATION
EQUITY No. of funds
HYBRID No. of funds
Large cap At least 80% in large caps 130 Aggressive hybrid 65–80% in equity and the rest in debt 47

Large & mid cap At least 35% each in large and Balanced hybrid 40–60% in equity and the rest in debt 9
mid caps 29
Conservative hybrid 10–25% in equity and the rest in debt 87
Multi cap Any proportion across large, mid
and small caps 99 Equity savings At least 65% in equity and at least
10% in debt 25
Mid cap At least 65% in mid caps 32
Arbitrage Investments in arbitrage opportunities 27
Small cap At least 65% in small caps 43
Dynamic asset Dynamic asset allocation 25
Value-oriented Following the value strategy 20 allocation between equity and debt

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

Sectoral/ At least 80% in a particular

thematic* sector or theme 136 COMMODITIES
International More than 65% in foreign equities 42 Gold Investment in gold 21

DEBT No. of funds

Long duration Instruments with Macaulay duration greater than 7 years 6

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

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

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

Money market Money-market instruments having maturity up to 1 year 20

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

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

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

Overnight Securities having maturity of 1 day 30

Dynamic bond Investments across durations 32

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

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

Banking and PSU At least 80% in the debt instruments of banks, PSUs, public financial institutions and municipal bonds 23

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

Gilt At least 80% in government securities 24

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

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

FMP Investment for a pre-defined term 696

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

Mutual Fund Insight February 2021 49

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 SCOREBOARD GUIDE

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

Rating: The Value Research fund rating

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

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

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

Expense, NAV, Assets

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

50 Mutual Fund Insight February 2021

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For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Equity: Large Cap 15.5 9.1 12.2 9.5 92 76 15.2 9.1 12.4 55 49
1 ABSL Focused Eqt  16.0 7.3 11.6 11.6 69 53 2.05 72.89  17.1 8.4 12.7 37 24 1.09 78.69 4429
2 ABSL Frontline Eqt Fund  14.2 6.1 10.8 10.9 75 60 1.81 265.87  15.0 6.9 11.8 44 36 1.09 285.02 18746
3 ABSL Nifty ETF NR 15.8 11.0 13.1 - 33 24 0.05 153.53 NR - - - - - - - 124
4 ABSL Nifty Next 50 ETF NR 15.3 - - - - - 0.05 328.94 NR - - - - - - - 76
5 ABSL Sensex ETF NR 17.0 8.7 - - 60 - 0.08 451.62 NR - - - - - - - 17
6 Aditya Birla Sun Life Index Fund  15.2 10.1 12.1 8.5 43 44 0.58 137.69  15.4 10.3 12.3 24 33 0.33 138.87 201
7 Axis Bluechip  19.7 14.7 15.0 12.5 1 3 1.66 38.37  21.2 16.2 16.4 1 1 0.52 42.15 20480
8 Axis Nifty 100 Index NR 14.9 - - - - - 1.00 11.92 NR 15.8 - - - - 0.15 12.03 364
9 Axis Nifty ETF NR 15.7 11.1 - - 25 - 0.15 145.15 NR - - - - - - - 29
10 Baroda Large Cap  15.9 7.7 9.8 5.4 66 - 2.61 17.72  16.7 8.5 10.6 36 - 1.77 18.74 38
11 BHARAT 22 ETF NR -8.0 -5.5 - - 92 - 0.01 31.77 NR - - - - - - - 5629
12 BNP Paribas Large Cap  16.8 9.5 11.2 11.9 54 57 2.25 113.72  18.1 10.9 12.6 15 27 1.04 124.21 987
13 Canara Robeco Bluechip Eqt  23.1 13.7 14.5 12.1 5 4 2.28 33.41  24.9 15.2 15.9 2 2 0.82 36.32 1122
14 DSP Equal Nifty 50  15.9 4.2 - - 82 - 0.77 11.52  16.4 4.7 - 50 - 0.39 11.69 117
15 DSP Nifty 50 Index NR 15.0 - - - - - 0.37 13.03 NR 15.2 - - - - 0.22 13.08 68
16 DSP Nifty Next 50 Index NR 14.1 - - - - - 0.59 12.47 NR 14.5 - - - - 0.31 12.54 76
17 DSP Top 100 Eqt Fund  7.5 6.3 9.8 8.6 73 69 2.12 243.06  8.3 7.0 10.5 43 45 1.34 256.12 2556
18 Edelweiss ETF Nifty 100 Quality 30 NR 22.1 10.5 - - 38 - 0.28 351.24 NR - - - - - - - 11
19 Edelweiss ETF-Nifty 50 NR 15.3 11.1 13.6 - 26 15 0.07 15164.49 NR - - - - - - - 2
20 Edelweiss Large Cap  17.3 9.9 12.3 11.3 44 40 2.49 44.17  19.3 11.3 13.5 8 10 1.05 47.32 207
21 Essel Large Cap Equity  12.1 5.6 10.2 - 77 67 2.60 27.15  14.0 7.2 11.8 42 37 0.61 30.28 90
22 Franklin India Bluechip Fund  13.7 4.9 9.2 8.9 79 73 1.92 534.84  14.5 5.7 10.1 46 47 1.21 571.15 5440
23 Franklin India Index NSE Nifty Fund  14.7 9.8 11.9 8.6 46 50 0.67 110.41  15.3 10.3 12.4 25 30 0.26 113.97 354
24 HDFC Index Nifty 50  15.1 10.7 12.7 9.2 37 31 0.30 127.95  15.3 10.9 12.9 14 17 0.10 129.75 2193
25 HDFC Index Sensex Fund  16.2 12.6 13.7 9.5 15 14 0.30 426.22  16.5 12.8 13.9 6 4 0.10 433.01 1649
26 HDFC Nifty 50 ETF NR 15.7 11.1 13.2 - 23 19 0.05 1477.82 NR - - - - - - - 555
27 HDFC Sensex ETF NR 17.0 13.1 14.3 - 9 5 0.05 5077.46 NR - - - - - - - 81
28 HDFC Top 100  5.9 4.5 10.3 8.9 80 66 1.84 529.77  6.5 5.2 11.1 48 40 1.21 557.81 17566
29 HSBC Large Cap Eqt  15.9 8.9 12.7 8.9 58 32 2.46 261.60  17.0 9.8 13.6 27 9 1.53 278.43 660
30 ICICI Pru BHARAT 22 FOF NR -7.9 - - - - - 0.01 9.38 NR -7.9 - - - - 0.01 9.38 18
31 ICICI Pru Bluechip  13.5 7.3 12.0 11.3 70 45 1.75 50.49  14.2 8.1 13.0 38 16 1.14 53.97 25224
32 ICICI Pru Nifty 100 ETF NR 15.5 9.6 12.6 - 52 34 0.46 151.66 NR - - - - - - - 14
33 ICICI Pru Nifty ETF NR 15.8 11.1 13.2 - 24 22 0.05 148.42 NR - - - - - - - 1468
34 ICICI Pru Nifty Index  15.2 10.3 12.4 9.1 41 37 0.45 135.91  15.7 10.8 12.8 18 22 0.10 140.30 1099
35 ICICI Pru Nifty Low Vol 30 ETF NR 23.7 11.5 - - 19 - 0.42 113.47 NR - - - - - - - 199
36 ICICI Pru Nifty Next 50 ETF NR 15.5 - - - - - 0.15 33.00 NR - - - - - - - 99
37 ICICI Pru Nifty Next 50 Index  14.3 1.6 10.4 10.2 90 64 0.85 28.65  14.7 2.0 10.9 54 41 0.39 29.67 893
38 ICICI Pru NV20 ETF NR 24.8 14.0 - - 4 - 0.15 71.32 NR - - - - - - - 9
39 ICICI Pru Sensex ETF NR 17.1 13.1 14.1 10.2 10 10 0.08 514.01 NR - - - - - - - 38
40 ICICI Pru Sensex Index  17.1 12.6 - - 14 - 0.30 15.03  17.4 12.8 - 5 - 0.10 15.14 156
41 ICICI Prudential Alpha Low Vol 30 ETF NR - - - - - - 0.40 137.90 NR - - - - - - - 30
42 IDBI Focused 30 Eqt  18.7 6.1 - - 76 - 2.48 12.10  19.7 7.8 - 39 - 1.62 12.75 157
43 IDBI India Top 100 Eqt  16.4 7.3 9.9 - 71 68 2.60 30.05  17.7 8.8 11.5 32 38 1.41 32.78 390
44 IDBI Nifty Index  14.7 9.8 11.5 8.3 48 54 1.03 25.75  15.6 10.8 12.7 16 26 0.35 27.55 247
45 IDBI Nifty Junior Index  13.7 1.2 9.7 9.7 91 70 1.04 24.27  14.3 1.9 10.8 55 43 0.49 25.92 46
46 IDFC Large Cap  17.4 7.5 11.9 8.6 68 47 2.55 39.85  18.7 8.6 13.2 34 12 1.44 43.32 598
47 IDFC Nifty  16.2 11.0 13.0 9.6 30 27 0.78 29.33  16.5 11.2 13.1 9 14 0.16 29.59 241
48 IDFC Nifty ETF NR 15.8 11.1 - - 28 - 0.06 145.69 NR - - - - - - - 2
49 IDFC Sensex ETF NR 16.8 13.0 - - 12 - 0.22 497.40 NR - - - - - - - 1
S&P BSE 100 Total Return Index 16.8 9.9 13.2 10.1

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

Mutual Fund Insight February 2021 51

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For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Equity: Large Cap 15.5 9.1 12.2 9.5 92 76 15.2 9.1 12.4 55 49
50 Indiabulls Bluechip  8.2 6.1 10.7 - 74 61 2.43 24.41  9.9 7.7 12.5 40 29 1.03 27.53 132
51 Indiabulls Nifty 50 ETF NR 16.9 - - - - - 0.12 143.54 NR - - - - - - - 14
52 Invesco India Large Cap  14.1 7.8 10.6 9.8 63 62 2.52 34.09  15.4 9.4 12.4 29 32 1.13 38.35 270
53 Invesco India Nifty ETF NR 15.7 11.0 13.2 - 29 20 0.10 1508.23 NR - - - - - - - 2
54 ITI Large Cap Fund NR - - - - - - - 10.13 NR - - - - - - 10.13 -
55 JM Core 11 Fund  6.3 3.7 12.2 8.6 85 43 1.62 9.96  7.9 5.3 13.8 47 6 1.22 11.04 51
56 JM Large Cap  18.1 7.7 9.0 7.2 65 74 1.99 80.51  19.4 8.8 10.3 31 46 0.48 87.71 361
57 Kotak Bluechip  16.4 9.1 11.6 10.4 57 52 2.20 293.98  17.7 10.4 12.9 22 19 1.05 320.04 1944
58 Kotak Nifty ETF NR 15.6 11.0 12.9 9.5 31 30 0.12 145.83 NR - - - - - - - 986
59 Kotak NV 20 ETF NR 24.8 14.1 15.2 - 3 2 0.14 72.68 NR - - - - - - - 13
60 Kotak Sensex ETF NR 16.8 12.9 13.9 9.9 13 11 0.28 496.38 NR - - - - - - - 15
61 L&T India Large Cap Fund  13.1 7.9 10.4 9.5 62 65 2.55 32.73  14.1 8.8 11.3 33 39 1.65 34.75 588
62 L&T Nifty 50 Index Fund NR - - - - - - 0.70 15.63 NR - - - - - 0.30 15.68 48
63 L&T Nifty Next 50 Index Fund NR - - - - - - 0.69 14.04 NR - - - - - 0.24 14.09 22
64 LIC MF ETF - Nifty 100 NR 15.6 9.6 - - 50 - 0.26 147.37 NR - - - - - - - 364
65 LIC MF ETF - Nifty 50 NR 15.9 11.1 13.3 - 21 18 0.10 147.61 NR - - - - - - - 588
66 LIC MF ETF - Sensex NR 17.0 13.2 14.2 - 6 7 0.10 507.56 NR - - - - - - - 474
67 LIC MF Index Nifty Fund  14.7 9.8 11.8 8.6 47 51 1.03 77.08  15.3 10.3 12.4 23 31 0.48 80.23 28
68 LIC MF Index Sensex Fund  15.9 11.9 12.7 8.8 18 33 1.08 88.78  16.6 12.4 13.2 7 11 0.58 92.38 28
69 LIC MF Large Cap  13.8 9.6 11.3 8.9 51 56 2.61 33.27  15.0 10.8 12.5 19 28 1.42 35.79 449
70 Mahindra Mnulife Largecap Prgti Yjn NR 11.9 - - - - - 2.55 12.03 NR 14.0 - - - - 0.80 12.46 96
71 Mirae Asset Equity Allocator FoF NR - - - - - - 0.35 12.35 NR - - - - - 0.08 12.35 50
72 Mirae Asset Large Cap  13.7 8.4 13.8 13.5 61 12 1.63 61.71  15.0 9.5 14.8 28 3 0.55 66.42 20797
73 Mirae Asset Nifty 50 ETF NR 15.7 - - - - - 0.06 142.64 NR - - - - - - - 355
74 Mirae Asset Nifty Next 50 ETF NR - - - - - - 0.13 323.20 NR - - - - - - - 47
75 Motilal Oswal Focused 25  17.3 9.5 12.3 - 53 38 2.15 28.45  18.8 10.9 13.8 13 7 1.01 31.54 1477
76 Motilal Oswal M50 ETF NR 15.4 10.8 12.5 8.3 36 35 0.05 137.35 NR - - - - - - - 22
77 Motilal Oswal Nifty 50 Index NR 16.1 - - - - - 0.50 11.51 NR 16.5 - - - - 0.10 11.55 51
78 Motilal Oswal Nifty Next 50 Index Fund NR 13.8 - - - - - 0.95 11.33 NR 14.5 - - - - 0.30 11.40 49
79 Nippon India ETF Junior BeES NR 15.5 2.5 11.0 10.8 87 59 0.15 339.39 NR - - - - - - - 1311
80 Nippon India ETF Nifty 100 NR 14.5 8.8 12.0 - 59 46 0.97 144.51 NR - - - - - - - 8
81 Nippon India ETF Nifty BeES NR 15.8 11.2 13.2 9.7 20 23 0.05 149.28 NR - - - - - - - 2582
82 Nippon India ETF NV20 NR 26.2 14.6 15.4 - 2 1 0.36 73.67 NR - - - - - - - 27
83 Nippon India ETF Sensex NR 16.9 13.1 14.1 - 11 9 0.07 514.50 NR - - - - - - - 28
84 Nippon India ETF Sensex Next 50 NR 16.0 - - - - - 0.25 36.75 NR - - - - - - - 13
85 Nippon India ETF Shariah BeES NR 37.7 10.4 13.7 9.9 40 13 1.03 352.52 NR - - - - - - - 5
86 Nippon India Index Nifty  14.3 9.9 11.9 8.8 45 49 0.94 23.29  15.5 10.8 12.7 17 25 0.10 24.44 300
87 Nippon India Index Sensex  16.6 12.2 13.0 9.0 17 26 0.43 23.63  17.0 12.9 13.7 4 8 0.10 24.59 115
88 Nippon India Junior BeES FoF NR 14.9 - - - - - 0.28 11.90 NR 15.3 - - - - 0.02 11.96 69
89 Nippon India Large Cap  4.9 3.9 9.7 10.4 83 71 1.72 37.43  5.9 4.9 10.8 49 42 0.99 40.18 10298
90 PGIM India Large Cap  13.3 7.7 10.5 9.0 64 63 2.42 202.64  15.0 9.2 12.1 30 35 0.90 224.46 308
91 Principal Large Cap Fund NR - - - - - - 2.39 11.61 NR - - - - - 0.27 11.65 231
92 Principal Nifty 100 Equal Weight  14.1 4.3 8.6 7.0 81 75 0.96 82.64  14.4 4.6 9.0 51 48 0.70 85.37 20
93 Quant Focused NR 23.5 5.5 10.9 12.8 - - 2.48 39.59 NR 25.4 6.6 11.6 - - 0.57 40.51 6
94 Quantum Nifty ETF NR 15.6 11.0 13.1 9.7 32 25 0.09 1446.52 NR - - - - - - - 8
95 SBI Bluechip Fund  16.3 7.6 11.2 11.8 67 58 1.70 48.36  17.2 8.5 12.3 35 34 1.03 51.86 24880
96 SBI ETF BSE 100 NR 16.3 9.7 13.0 - 49 28 - 146.85 NR - - - - - - - 5
97 SBI ETF Nifty 50 NR 15.7 11.1 13.3 - 22 17 - 144.97 NR - - - - - - - 81195
98 SBI ETF Nifty Next 50 NR 15.4 2.4 11.3 - 88 55 - 335.48 NR - - - - - - - 628
S&P BSE 100 Total Return Index 16.8 9.9 13.2 10.1

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

52 Mutual Fund Insight February 2021

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

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Equity: Large Cap 15.5 9.1 12.2 9.5 92 76 15.2 9.1 12.4 55 49
99 SBI ETF Quality NR 25.6 - - - - - - 125.15 NR - - - - - - - 22
100 SBI ETF Sensex NR 17.0 13.1 14.2 - 8 8 - 512.08 NR - - - - - - - 34664
101 SBI ETF Sensex Next 50 NR 16.5 - - - - - - 372.72 NR - - - - - - - 4
102 SBI Nifty Index Fund  14.6 10.2 12.3 8.7 42 39 0.49 119.95  15.1 10.6 12.8 20 21 0.10 124.07 957
103 Sundaram Bluechip Fund NR - - - - - - 2.37 11.61 NR - - - - - 0.51 11.66 803
104 Sundaram Select Focus Fund  11.9 9.2 12.2 8.4 56 42 2.26 216.14  13.0 10.4 13.2 21 13 1.24 229.08 1121
105 Sundaram Smart NIFTY 100 Equal Wght  14.2 2.3 - - 89 - 0.93 13.60  14.7 3.0 - 53 - 0.41 13.98 23
106 Tata Index Nifty Fund  14.8 10.4 12.4 8.8 39 36 0.50 84.66  15.5 10.9 12.9 12 20 0.05 90.37 85
107 Tata Index Sensex Fund  15.6 12.3 13.2 9.0 16 21 1.00 117.65  16.8 12.9 13.8 3 5 0.05 122.53 36
108 Tata Large Cap  8.3 5.4 9.3 8.9 78 72 2.47 250.10  9.2 6.5 10.7 45 44 1.67 274.67 793
109 Tata Nifty ETF NR 16.0 - - - - - 0.07 143.01 NR - - - - - - - 237
110 Taurus Largecap Equity  10.2 3.9 6.7 6.4 84 76 2.62 85.28  10.3 4.3 7.4 52 49 2.54 89.80 27
111 Taurus Nifty Index NR 17.1 10.8 12.2 8.5 35 41 1.09 26.33 NR 17.3 11.2 12.9 10 18 0.91 27.70 1
112 Union Large Cap  15.1 6.9 - - 72 - 2.56 13.06  15.7 7.6 - 41 - 1.87 13.40 191
113 UTI Mastershare Fund  18.7 9.3 11.9 10.3 55 48 1.84 152.86  19.8 10.3 12.8 26 23 1.04 160.98 7008
114 UTI Nifty ETF NR 15.7 11.1 13.3 - 27 16 0.07 1491.24 NR - - - - - - - 20901
115 UTI Nifty Index Fund  15.5 10.9 12.9 9.2 34 29 0.14 92.26  15.6 10.9 13.0 11 15 0.10 93.10 3037
116 UTI Nifty Next 50 ETF NR 15.8 2.7 - - 86 - 0.15 336.90 NR - - - - - - - 418
117 UTI Nifty Next 50 Index NR 14.8 - - - - - 0.79 11.59 NR 15.4 - - - - 0.33 11.76 728
118 UTI S&P BSE Sensex Next 50 ETF NR 16.3 - - - - - 0.22 371.75 NR - - - - - - - 6
119 UTI Sensex ETF NR 17.0 13.1 14.2 - 7 6 0.07 508.92 NR - - - - - - - 10317
Equity: Large & MidCap 16.3 4.8 11.3 11.4 21 20 17.4 6.0 12.4 20 20
120 ABSL Eqt Advantage  18.3 3.6 11.3 11.2 13 10 2.02 500.63  19.4 4.6 12.5 14 10 1.06 536.19 4761
121 Axis Growth Opportunities NR 24.7 - - - - - 2.10 14.79 NR 26.7 - - - - 0.68 15.38 1907
122 Baroda Large & Mid Cap Fund NR - - - - - - 2.38 11.82 NR - - - - - 0.40 11.90 579
123 BOI AXA Large & Midcap Eqt  17.5 2.7 9.2 8.2 17 16 2.71 41.87  18.9 3.9 10.6 16 16 1.60 45.86 187
124 Canara Robeco Emrgng Equities Fund  24.5 7.1 13.9 17.6 6 3 1.91 120.51  26.0 8.3 15.2 6 4 0.76 131.15 6880
125 DSP Equity Opp  14.2 4.9 12.5 11.1 11 7 1.94 267.73  15.3 5.9 13.6 11 7 1.00 286.13 5386
126 Edelweiss Large & Midcap  17.0 7.9 11.7 10.3 2 9 2.45 38.67  18.8 9.4 13.0 2 8 0.89 42.42 579
127 Essel Large & Midcap NR 8.0 2.5 10.9 - - - 2.60 17.09 NR 10.2 4.4 12.9 - - 0.69 18.71 105
128 Franklin Eqt Advantage  12.0 2.8 8.2 9.9 16 18 2.09 89.39  13.1 3.6 9.1 17 18 1.27 94.96 2314
129 HDFC Growth Opportunities  11.4 4.5 9.0 6.5 12 17 2.31 129.35  11.8 4.7 9.1 13 17 2.01 131.31 1581
130 HSBC Large and Midcap Eqt NR 15.3 - - - - - 2.46 12.05 NR 17.2 - - - - 0.79 12.40 522
131 ICICI Pru Large & Midcap  11.7 3.5 9.7 9.9 15 15 2.12 371.43  12.6 4.4 10.7 15 15 1.34 399.38 3079
132 ICICI Pru Midcap Select ETF NR 19.5 0.1 - - 20 - 0.45 78.23 NR - - - - - - - 23
133 IDFC Core Equity  12.9 3.6 10.5 8.7 14 13 2.08 51.68  14.3 4.9 12.1 12 11 0.87 57.09 2185
134 Invesco India Growth Opp  13.3 7.7 12.5 11.5 3 6 2.02 41.13  14.6 9.1 14.2 3 6 0.54 46.02 3278
135 Kotak Equity Opportunities  16.5 7.5 12.9 11.5 5 5 1.98 148.96  17.8 8.7 14.3 4 5 0.81 162.20 4365
136 L&T Large and Midcap  14.7 2.6 9.9 10.9 18 14 2.29 55.68  15.7 3.5 10.8 18 14 1.45 59.16 1251
137 LIC MF Large & Midcap  14.1 6.3 13.8 - 7 4 2.39 18.45  16.1 7.9 15.4 7 2 0.91 19.91 862
138 Mahindra Manulife Top 250 Nivsh Yjn NR - - - - - - 2.48 11.69 NR - - - - - 0.68 11.90 246
139 Mirae Asset Emerging Bluechip  22.4 9.9 17.3 20.1 1 1 1.78 70.58  23.6 10.9 18.3 1 1 0.74 76.00 13405
140 Motilal Oswal Large and Midcap NR 12.6 - - - - - 2.39 12.04 NR 14.6 - - - - 0.69 12.30 538
141 Nippon India Vision Fund  13.3 -0.2 7.9 7.8 21 20 2.09 615.84  13.9 0.4 8.5 20 20 1.55 646.92 2620
142 Principal Emrgng Bluechip Fund  22.3 5.1 14.0 14.7 10 2 2.08 131.99  23.7 6.3 15.2 9 3 0.98 142.54 2324
143 Quant Large & Midcap NR 28.8 6.8 13.0 12.3 - - 2.48 48.44 NR 29.0 7.2 13.1 - - 2.38 49.40 6
144 SBI Large & Midcap  15.8 5.4 10.6 11.4 9 12 2.12 264.19  16.6 6.2 11.3 10 13 1.42 275.92 3169
S&P BSE 100 Total Return Index 16.8 9.9 13.2 10.1
S&P BSE Large Mid Cap TRI 16.3 10.6 13.3 9.9
S&P BSE Sensex Total Return Index 17.2 13.2 14.2 10.3

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

Mutual Fund Insight February 2021 53

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

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Equity: Large & MidCap 16.3 4.8 11.3 11.4 21 20 17.4 6.0 12.4 20 20
145 Sundaram Large & Midcap  7.6 6.0 11.8 10.3 8 8 2.28 39.59  9.1 7.3 12.8 8 9 0.83 42.28 1353
146 Tata Large & Midcap  15.5 7.6 10.8 11.4 4 11 2.17 253.37  15.1 8.5 12.0 5 12 1.11 274.85 1849
147 Union Large & Midcap NR 24.1 - - - - - 2.55 12.47 NR 25.3 - - - - 1.46 12.61 209
148 UTI Core Equity  12.8 1.7 8.0 8.6 19 19 2.45 69.59  13.3 2.3 8.6 19 19 2.01 72.15 842
Equity: Multi Cap 15.5 6.3 11.1 10.5 44 40 16.8 7.4 12.2 44 40
149 ABSL Bal Bhavishya Yojna NR 14.3 - - - - - 2.63 12.26 NR 16.3 - - - - 0.91 12.71 332
150 ABSL Eqt Fund  16.1 6.5 13.2 11.9 18 11 1.88 885.27  17.1 7.5 14.3 21 10 0.98 952.95 12109
151 ABSL Retirement 30s NR 14.7 - - - - - 2.63 11.85 NR 16.7 - - - - 0.88 12.25 169
152 Axis Focused 25  21.0 11.7 16.2 - 6 1 2.00 37.21  22.5 13.1 17.6 7 1 0.65 41.02 13359
153 Axis Multicap  19.3 14.4 - - 3 - 2.06 15.21  21.1 16.1 - 1 - 0.54 15.97 7099
154 Baroda Multi Cap  19.5 4.6 9.9 7.7 30 29 2.49 120.08  20.4 5.5 10.8 29 29 1.66 128.82 917
155 BNP Paribas Focused 25 Eqt  15.6 4.7 - - 28 - 2.45 11.86  17.3 6.1 - 25 - 1.00 12.41 184
156 BNP Paribas Multi Cap  10.3 3.2 9.8 11.5 34 30 2.42 55.55  11.8 4.7 11.5 33 24 1.02 62.33 546
157 BOI AXA Multi Cap Fund NR - - - - - - 2.73 13.78 NR - - - - - 0.79 13.91 56
158 Canara Robeco Eqt Diversified Fund  22.2 11.4 13.3 11.7 7 9 2.10 172.88  23.9 12.5 14.3 8 11 0.86 183.23 2784
159 DSP Eqt Fund  18.7 8.7 13.4 11.2 11 8 2.01 49.81  20.0 9.7 14.3 11 12 0.96 53.79 4314
160 DSP Focus  9.0 6.7 10.7 9.7 17 23 2.13 28.14  10.2 7.7 11.7 18 23 1.06 29.95 2042
161 Edelweiss Multi Cap  14.4 5.6 11.7 - 23 16 2.42 17.22  16.4 7.3 13.1 22 17 0.67 18.48 599
162 Essel Multi Cap NR 8.8 - - - - - 2.30 12.20 NR 11.0 - - - - 0.43 12.86 181
163 Franklin Equity  16.0 4.6 9.5 11.5 29 33 1.83 685.12  16.9 5.5 10.5 28 33 1.10 736.95 8841
164 Franklin Focused Eqt  10.9 3.9 10.1 13.2 32 27 1.84 46.78  11.8 4.9 11.3 32 26 1.01 50.79 7205
165 HDFC Eqt Fund  6.4 3.1 10.0 9.1 36 28 1.75 715.92  7.0 3.8 10.8 38 30 1.30 759.92 20546
166 HDFC Focused 30  4.2 -2.6 5.5 6.3 44 40 2.64 80.84  5.2 -1.7 6.6 44 38 1.67 86.65 557
167 HDFC Retrmnt Savings Eqt  18.3 5.3 - - 24 - 2.18 20.35  19.8 6.8 - 24 - 1.08 21.86 1146
168 HSBC Focused Eqt Fund NR - - - - - - 2.49 12.62 NR - - - - - 0.81 12.72 569
169 HSBC Multi Cap Eqt  16.0 3.2 10.3 10.5 33 26 2.51 101.31  17.4 4.3 11.2 35 27 1.38 108.23 355
170 ICICI Pru Focused Equity  24.6 6.8 10.7 9.1 15 24 2.54 36.22  26.0 7.9 11.9 16 21 1.29 39.25 894
171 ICICI Pru Multicap  9.2 5.1 10.3 10.3 26 25 2.01 326.94  10.3 6.1 11.5 26 25 1.03 350.92 5847
172 ICICI Pru Retrmnt Pure Eqt NR 10.9 - - - - - 2.70 11.69 NR 12.9 - - - - 1.20 12.10 78
173 ICICI Pru S&P BSE 500 ETF NR 17.8 - - - - - 0.28 188.20 NR - - - - - - - 41
174 ICICI Prudential India Eqt FOF NR - - - - - - 1.02 11.69 NR - - - - - 0.15 11.77 23
175 IDBI Diversified Eqt  16.2 5.9 9.0 - 22 34 2.53 25.78  17.7 7.7 10.7 20 31 1.22 28.15 309
176 IDFC Focused Eqt Fund  14.9 3.0 11.4 7.9 37 19 2.21 44.12  16.5 4.5 13.1 34 16 0.84 48.94 1444
177 IDFC Multi Cap  9.8 2.5 7.7 11.7 40 36 1.99 105.77  10.6 3.3 8.5 40 36 1.29 111.96 5149
178 IIFL Focused Equity  23.8 13.6 16.0 - 5 2 2.18 22.53  25.5 15.3 17.5 4 2 0.90 24.38 1210
179 Invesco India Focused 20 Eqt Fund NR - - - - - - 2.50 11.64 NR - - - - - 0.55 11.70 734
180 Invesco India Multicap NR 18.8 2.8 9.9 14.3 - - 2.42 57.65 NR 20.4 4.3 11.6 - - 0.91 64.64 1035
181 ITI Multi Cap NR 2.1 - - - - - 2.63 11.51 NR 4.3 - - - - 0.48 11.91 164
182 JM Multicap  11.4 7.1 13.6 9.3 14 6 2.50 38.92  12.3 7.9 14.8 15 7 1.32 42.19 149
183 Kotak Focused Equity NR 12.8 - - - - - 2.10 12.27 NR 14.8 - - - - 0.33 12.60 1733
184 Kotak Standard Multicap  11.8 7.5 12.8 12.6 13 13 1.64 41.78  12.9 8.6 14.0 13 13 0.70 45.17 32441
185 L&T Eqt Fund  13.2 4.2 9.5 9.6 31 32 2.12 94.61  13.9 5.0 10.3 31 34 1.46 99.97 2486
186 L&T Focused Equity NR 13.4 - - - - - 2.47 13.07 NR 14.8 - - - - 1.31 13.39 782
187 LIC MF Multicap  10.4 5.0 8.3 6.8 27 35 2.55 56.09  11.4 5.9 9.1 27 35 1.68 59.32 334
188 Mahindra Manulife Focused Eqt Yjn NR - - - - - - 2.59 10.77 NR - - - - - 0.41 10.79 162
189 Mahindra Manulife MultiCap Bdht Yjn  16.6 6.1 - - 20 - 2.62 13.72  18.7 8.2 - 14 - 0.86 14.78 374
190 Mirae Asset Focused NR 21.2 - - - - - 1.92 14.33 NR 23.1 - - - - 0.36 14.73 4173
S&P BSE 500 Total Return Index 18.4 8.2 12.9 10.2
S&P BSE Large Mid Cap TRI 13.3 8.1 12.3 9.9
S&P BSE Sensex Total Return Index 17.2 13.2 14.2 10.3

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

54 Mutual Fund Insight February 2021

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

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Equity: Multi Cap 15.5 6.3 11.1 10.5 44 40 16.8 7.4 12.2 44 40
191 Motilal Oswal Multicap 35  10.3 3.1 11.2 - 35 20 1.75 29.92  11.4 4.1 12.2 36 20 0.92 31.88 11791
192 Motilal Oswal Nifty 500 NR 16.5 - - - - - 1.03 12.87 NR 17.2 - - - - 0.38 12.98 79
193 Nippon India Focused Equity  16.1 2.7 9.7 12.5 39 31 1.91 55.32  16.9 3.5 10.7 39 32 1.27 58.99 4204
194 Nippon India Multi Cap  0.0 0.0 5.6 9.8 42 39 1.77 97.82  0.8 0.7 6.4 41 40 1.19 103.78 8230
195 Nippon India Retrmnt Wealth Creation  0.6 -0.9 5.7 - 43 38 2.02 13.51  1.7 0.1 7.0 43 37 1.19 14.55 1697
196 Parag Parikh Long Term Equity  32.3 14.6 15.0 - 2 3 2.04 35.34  33.5 15.5 15.8 3 3 1.00 37.05 5757
197 PGIM India Diversified Eqt  35.9 11.2 13.3 - 8 10 2.61 18.90  38.5 13.4 15.1 6 6 0.53 20.56 398
198 Principal Focused Multicap  19.7 9.7 12.6 10.3 9 14 2.56 82.51  20.7 10.6 13.4 9 14 1.67 87.23 453
199 Principal Multi Cap Growth  15.0 3.0 11.5 11.2 38 17 2.47 165.53  15.9 3.9 12.5 37 19 1.66 175.79 679
200 Quant Active  43.6 13.8 14.9 12.8 4 4 2.48 266.76  44.9 14.5 15.4 5 5 0.57 273.13 99
201 Quantum Equity FoF  13.6 5.1 10.8 10.7 25 22 0.75 41.75  13.9 5.3 10.9 30 28 0.51 42.02 54
202 SBI Focused Equity  14.5 8.5 13.6 14.9 12 7 1.81 175.78  15.8 9.6 14.7 12 8 0.78 189.11 12020
203 SBI Magnum MultiCap Fund  13.6 6.0 11.5 11.5 21 18 1.88 58.02  14.7 7.0 12.7 23 18 0.95 62.24 9863
204 Shriram Multicap NR 12.5 - - - - - 2.55 12.18 NR 14.5 - - - - 0.65 12.68 62
205 Sundaram Equity NR 11.6 - - - - - 2.40 12.08 NR 13.8 - - - - 0.39 12.41 618
206 Tata Focused Eqt NR 11.7 - - - - - 2.12 11.27 NR 14.1 - - - - 0.50 11.53 1397
207 Tata Multicap NR 14.3 - - - - - 2.17 12.85 NR 16.5 - - - - 0.82 13.43 1771
208 Tata Retrmnt Svngs Progressive  14.4 6.2 13.0 - 19 12 2.34 35.66  16.3 7.8 14.7 17 9 0.81 40.43 889
209 Taurus Starshare (Multi Cap)  6.6 0.6 6.2 7.0 41 37 2.64 119.71  6.8 0.7 6.6 42 39 2.58 124.26 220
210 Union Focused NR 20.7 - - - - - 2.57 13.55 NR 21.8 - - - - 1.53 13.74 183
211 Union Multi Cap  20.9 9.3 11.0 - 10 21 2.58 25.03  21.8 10.0 11.8 10 22 1.74 26.52 415
212 UTI Children’s Career Investment  19.3 6.7 12.3 10.1 16 15 2.53 46.28  20.4 7.7 13.2 19 15 1.74 48.98 388
213 UTI Eqt Fund  31.5 15.0 14.9 13.0 1 5 1.78 200.00  32.4 15.6 15.5 2 4 1.26 207.30 13546
Equity: Mid Cap 24.3 3.7 10.8 13.6 22 20 25.8 5.0 12.1 21 19
214 Aditya Birla Sun Life Mid Cap Fund  15.5 -2.3 7.4 10.3 22 20 2.18 317.23  16.7 -1.4 8.4 21 19 1.21 339.75 2498
215 Axis Midcap  26.0 13.2 14.8 - 1 1 1.99 50.04  27.8 14.6 16.2 1 1 0.55 55.17 7878
216 Baroda Midcap  31.8 3.7 8.9 2.1 11 - 2.54 11.56  32.8 4.7 9.8 11 - 1.59 12.34 54
217 BNP Paribas Midcap Fund  23.1 2.2 9.5 14.8 15 15 2.33 40.52  24.9 3.8 11.1 13 14 0.83 45.05 767
218 DSP Midcap  23.6 6.6 13.6 14.0 4 2 1.88 70.90  24.8 7.6 14.6 4 2 0.89 75.46 9467
219 Edelweiss Midcap  26.4 3.9 11.8 15.1 10 6 2.23 34.07  28.4 5.4 13.1 9 6 0.74 37.25 1023
220 Franklin India Prima Fund  17.8 3.4 10.8 14.4 12 12 1.86 1130.72  18.8 4.3 11.9 12 12 1.06 1224.73 7026
221 HDFC Mid-Cap Opp Fund  21.7 2.7 11.3 14.8 13 10 2.01 65.26  22.6 3.6 12.3 14 10 1.16 69.69 24215
222 ICICI Pru Midcap Fund  19.1 1.8 9.6 12.2 16 14 2.28 112.75  20.2 2.9 10.7 16 15 1.35 121.35 2071
223 ICICI Prudential Midcap 150 ETF NR - - - - - - 0.27 79.07 NR - - - - - - - 29
224 IDBI Midcap  24.3 1.2 - - 19 - 2.62 12.88  25.3 2.7 - 18 - 1.72 13.81 195
225 Invesco India Mid Cap Fund  24.4 6.9 12.3 15.3 3 5 2.42 62.45  26.1 8.6 14.1 3 4 0.73 70.62 1142
226 Kotak Emerging Equity  21.9 5.4 13.1 14.5 6 3 1.86 49.32  23.5 6.7 14.5 5 3 0.61 54.14 8654
227 L&T Midcap Fund  19.0 1.5 11.8 13.7 18 7 1.91 158.25  20.5 2.6 12.9 19 7 0.77 170.17 6180
228 Mahindra Manulife Midcap Unnati Yjn NR 18.7 - - - - - 2.46 11.71 NR 20.7 - - - - 0.89 12.33 539
229 Mirae Asset Midcap NR 24.3 - - - - - 2.02 14.00 NR 26.3 - - - - 0.43 14.33 2951
230 Motilal Oswal Midcap 100 ETF NR 22.1 -0.1 9.3 - 20 16 0.20 21.83 NR - - - - - - - 42
231 Motilal Oswal Midcap 30  9.3 1.5 7.6 - 17 19 2.10 29.31  10.7 2.8 8.9 17 17 0.74 31.90 1786
232 Motilal Oswal Nifty Midcap 150 NR 25.3 - - - - - 1.03 13.84 NR 26.1 - - - - 0.38 13.96 78
233 Nippon India ETF Nifty Midcap 150 NR 25.3 - - - - - 0.23 79.23 NR - - - - - - - 198
234 Nippon India Growth Fund  22.1 5.1 11.6 10.8 7 9 1.87 1395.29  22.9 5.8 12.4 8 9 1.20 1474.66 7843
235 PGIM India Midcap Opp Fund  48.4 8.8 11.7 - 2 8 2.68 27.14  51.1 10.7 13.3 2 5 0.72 29.38 471
236 Principal Midcap Fund NR 23.2 - - - - - 2.40 12.34 NR 25.6 - - - - 0.38 12.59 295
S&P BSE 150 MidCap TRI 26.3 3.5 12.5 12.1
S&P BSE 500 Total Return Index 18.4 8.2 12.9 10.2
S&P BSE Sensex Total Return Index 17.2 13.2 14.2 10.3

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

Mutual Fund Insight February 2021 55

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Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Equity: Mid Cap 24.3 3.7 10.8 13.6 22 20 25.8 5.0 12.1 21 19
237 Quant Midcap NR 42.0 10.8 11.6 10.7 - - 2.48 78.39 NR 44.3 12.0 12.4 - - 0.57 81.43 20
238 SBI Magnum Midcap Fund  30.4 2.3 8.4 14.0 14 17 2.03 92.64  31.6 3.3 9.6 15 16 1.20 99.75 4113
239 Sundaram Midcap  11.8 -1.9 8.1 12.2 21 18 2.00 516.63  12.7 -1.2 8.8 20 18 1.14 542.70 5819
240 Tata Midcap Growth Fund  24.3 4.8 11.0 14.3 8 11 2.36 175.52  25.9 6.0 12.1 7 11 1.17 188.83 971
241 Taurus Discovery (Midcap)  25.5 5.8 12.3 12.5 5 4 2.57 54.67  26.0 6.3 12.8 6 8 2.22 56.74 59
242 Union Midcap Fund NR - - - - - - 2.49 18.84 NR - - - - - 1.49 18.99 188
243 UTI Mid Cap Fund  32.7 4.0 10.6 14.8 9 13 1.95 133.06  33.9 4.9 11.6 10 13 1.22 142.04 4491
Equity: Small Cap 30.4 0.1 10.1 12.7 14 13 32.0 1.2 11.3 14 13
244 ABSL Small Cap  19.8 -6.4 7.1 10.9 14 11 2.19 36.72  21.2 -5.3 8.3 14 11 1.05 39.80 2403
245 Axis Small Cap Fund  22.4 9.9 13.8 - 1 2 1.95 39.28  24.6 11.5 15.3 1 2 0.30 42.83 3366
246 BOI AXA Small Cap NR 52.2 - - - - - 2.69 15.94 NR 55.1 - - - - 0.78 16.55 92
247 Canara Robeco Small Cap NR 41.8 - - - - - 2.52 13.53 NR 44.3 - - - - 0.82 13.98 572
248 DSP Small Cap  33.1 0.0 10.0 15.3 8 7 1.94 71.08  34.3 0.7 10.7 8 7 1.04 75.02 5791
249 Edelweiss Small Cap NR 34.8 - - - - - 2.43 14.90 NR 36.9 - - - - 0.88 15.35 585
250 Franklin Smaller Companies Fund  18.7 -2.4 8.0 14.6 10 9 1.88 59.17  19.7 -1.4 9.2 10 9 1.07 64.46 6152
251 HDFC Small Cap  20.2 0.0 11.1 11.0 7 5 2.10 46.26  21.4 1.2 12.5 7 5 0.90 50.41 9323
252 HSBC Small Cap Eqt  28.8 -4.9 6.8 8.7 12 12 2.49 56.12  30.6 -3.9 7.8 12 12 1.09 60.23 330
253 ICICI Pru Small Cap  22.8 1.6 9.7 10.8 6 8 2.22 31.77  24.7 2.8 10.6 4 8 0.75 33.75 1635
254 IDBI Small Cap  19.0 -1.1 - - 9 - 2.47 10.79  20.1 0.6 - 9 - 1.54 11.52 121
255 IDFC Emrgng Businesses NR - - - - - - 2.30 14.91 NR - - - - - 0.39 15.15 751
256 Invesco India Small Cap NR 24.9 - - - - - 2.61 13.46 NR 26.8 - - - - 0.70 13.94 685
257 ITI Small Cap Fund NR - - - - - - 2.51 11.37 NR - - - - - 0.31 11.59 256
258 Kotak Small Cap  34.2 5.2 12.8 13.5 2 3 2.14 98.00  36.1 6.7 14.4 2 3 0.70 108.41 2154
259 L&T Emerging Businesses  15.5 -2.9 10.9 - 11 6 1.95 26.34  16.8 -1.9 12.0 11 6 0.81 27.91 5751
260 Motilal Oswal Nifty Smallcap 250 NR 25.1 - - - - - 1.03 13.43 NR 25.9 - - - - 0.38 13.55 81
261 Nippon India Nifty Smallcap 250 Index Fu NR - - - - - - 1.04 12.12 NR - - - - - 0.30 12.13 38
262 Nippon India Small Cap  29.2 1.6 12.5 17.2 5 4 1.77 50.07  30.3 2.6 13.7 6 4 1.16 54.00 10398
263 Principal Small Cap NR 38.4 - - - - - 2.55 14.19 NR 40.9 - - - - 0.83 14.61 238
264 Quant Small Cap NR 75.1 11.2 9.8 8.9 - - 2.39 70.40 NR 76.1 11.7 10.1 - - 1.39 71.98 71
265 SBI Small Cap  33.6 4.4 15.6 18.9 3 1 1.92 71.45  35.2 5.7 16.9 3 1 0.90 78.14 6202
266 Sundaram Small Cap  26.2 -5.7 5.4 10.5 13 13 2.38 95.23  27.4 -4.8 6.2 13 13 1.29 100.25 1160
267 Tata Small Cap NR 23.0 - - - - - 2.41 12.96 NR 25.3 - - - - 0.96 13.51 795
268 Union Small Cap  30.2 2.0 8.0 - 4 10 2.63 18.25  31.1 2.7 8.8 5 10 1.87 19.22 387
269 UTI Small Cap Fund NR - - - - - - - 10.11 NR - - - - - - 10.11 -
Equity: Value Oriented 16.4 2.7 9.7 10.8 14 14 17.5 3.7 10.9 14 14
270 ABSL Pure Value Fund  15.6 -7.5 6.1 11.5 14 13 2.10 53.53  16.8 -6.5 7.3 14 14 1.02 57.89 4091
271 DSP Value Fund NR - - - - - - - 10.31 NR - - - - - - 10.32 -
272 HDFC Capital Builder Value  12.9 2.2 9.5 10.5 9 8 2.23 323.17  14.0 3.3 10.7 9 7 1.18 346.66 4171
273 ICICI Pru Value Discovery Fund  22.9 5.8 8.9 13.0 4 10 1.85 174.59  23.5 6.5 9.9 4 10 1.31 187.21 16610
274 IDBI Long Term Value NR 13.4 - - - - - 2.61 11.76 NR 14.1 - - - - 1.78 12.13 103
275 IDFC Sterling Value  15.2 -2.0 8.9 11.0 13 9 2.05 54.83  16.4 -0.9 10.1 13 9 0.98 59.19 2893
276 Indiabulls Value  14.8 -1.9 5.7 - 12 14 2.30 13.54  16.8 -0.4 7.6 12 13 0.50 14.95 16
277 Invesco India Contra Fund  21.2 7.5 14.0 13.3 3 1 2.05 59.45  22.6 8.8 15.6 3 1 0.56 66.00 5609
278 JM Value NR 13.4 4.1 12.8 8.6 - - 2.54 38.02 NR 14.1 4.7 13.9 - - 1.50 41.00 122
279 Kotak India EQ Contra  15.2 9.1 13.5 10.7 1 2 2.39 63.40  16.7 10.6 15.2 1 2 1.05 70.32 861
280 L&T India Value Fund  14.6 2.0 10.1 13.2 10 5 1.89 41.45  15.7 3.0 11.1 10 5 0.92 44.30 6589
S&P BSE 100 Total Return Index 16.8 9.9 13.2 10.1
S&P BSE 150 MidCap TRI 26.3 3.5 12.5 12.1
S&P BSE 250 SmallCap TRI 27.9 -3.7 7.7 5.5
S&P BSE Sensex Total Return Index 17.2 13.2 14.2 10.3

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

56 Mutual Fund Insight February 2021

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

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Equity: Value Oriented 16.4 2.7 9.7 10.8 14 14 17.5 3.7 10.9 14 14
281 Nippon India Value  16.3 4.0 10.0 10.1 5 6 2.00 87.45  17.1 4.7 10.8 5 6 1.41 92.75 3160
282 Quantum Long Term Eqt Value  12.7 3.7 8.7 9.4 6 11 1.79 60.07  13.2 4.1 9.1 8 11 1.29 60.82 792
283 SBI Contra Fund  30.6 3.4 9.7 8.3 7 7 2.24 135.41  31.4 4.1 10.4 7 8 1.67 142.30 1490
284 Tata Eqt PE Fund  12.5 3.2 12.2 11.8 8 3 1.94 155.21  14.0 4.6 13.5 6 3 0.77 166.91 4604
285 Templeton India Value  11.5 -1.0 7.9 7.6 11 12 2.52 270.42  12.6 -0.2 8.7 11 12 1.60 287.02 451
286 Union Value Discovery NR 17.5 - - - - - 2.52 12.64 NR 18.3 - - - - 1.78 12.86 126
287 UTI Value Opportunities  19.0 8.6 11.2 10.3 2 4 1.95 76.75  19.8 9.4 11.9 2 4 1.36 81.32 4931
Equity: ELSS 16.2 5.4 11.2 10.9 35 33 17.5 6.5 12.3 35 33
288 ABSL Tax Relief 96 Fund  15.3 4.7 11.2 11.6 18 16 1.87 154.96  16.3 5.7 12.3 19 18 0.93 39.97 12118
289 Axis LT Eqt Fund  20.5 12.4 14.1 16.4 3 5 1.67 59.37  21.5 13.4 15.3 3 5 0.74 64.68 25618
290 Baroda ELSS 96 Fund  18.1 2.3 8.7 7.8 32 30 2.57 32.39  18.9 3.1 9.6 32 29 1.85 39.89 186
291 BNP Paribas Long Term Equity  17.8 6.8 10.1 12.6 13 22 2.41 48.46  19.2 8.1 11.3 12 22 1.13 51.64 488
292 BOI AXA Tax Advtg Fund  31.2 7.9 14.4 11.5 8 3 2.58 72.88  32.6 9.2 15.8 7 3 1.51 80.74 351
293 Canara Robeco Eqt Tax Saver Fund  27.3 13.1 13.8 12.3 2 6 2.23 30.33  28.7 14.2 14.8 2 6 1.19 91.98 1333
294 DSP Tax Saver Fund  15.0 6.8 13.1 12.4 14 7 1.89 59.39  16.1 7.9 14.2 13 9 0.91 63.19 7015
295 Edelweiss LT Eqt (Tax Svngs)  13.7 4.1 9.0 10.3 20 27 2.38 54.87  15.7 5.8 10.4 18 24 0.69 60.14 140
296 Essel Long Term Advantage  8.5 3.6 9.9 - 25 23 2.33 16.16  10.4 5.3 11.8 21 19 0.38 17.57 60
297 Franklin India Taxshield Fund  9.8 3.8 8.6 11.1 23 31 1.90 633.01  10.8 4.8 9.7 24 27 1.06 679.84 4053
298 HDFC Taxsaver Fund  5.8 -0.8 7.8 8.2 34 32 2.01 547.75  6.4 -0.1 8.5 34 32 1.36 575.53 7263
299 HSBC Tax Saver Eqt Fund  13.0 2.6 10.3 10.5 30 20 2.48 43.10  14.5 3.7 11.2 30 23 1.26 46.08 156
300 ICICI Pru LT Eqt (Tax Saving)  13.6 7.5 10.2 11.4 10 21 2.05 445.70  14.3 8.4 11.3 11 21 1.26 480.21 7277
301 IDBI Eqt Advantage  8.4 4.0 8.8 - 21 29 2.43 30.57  9.7 5.5 10.3 20 26 1.25 33.32 513
302 IDFC Tax Advtg (ELSS) Fund  18.7 3.1 11.0 11.9 28 18 2.02 65.31  20.0 4.3 12.3 27 16 0.98 71.22 2512
303 Indiabulls Tax Savings  9.9 3.4 - - 26 - 2.25 11.11  11.7 4.6 - 25 - 0.50 11.51 94
304 Invesco India Tax Plan Fund  19.2 8.8 12.6 13.1 6 9 2.31 63.87  20.5 10.2 14.2 5 8 0.90 71.51 1280
305 ITI Long Term Equity NR 11.9 - - - - - 2.58 11.75 NR 14.4 - - - - 0.38 12.06 47
306 JM Tax Gain Fund  18.3 9.0 14.2 11.1 5 4 2.34 21.78  19.2 9.9 15.5 6 4 0.80 23.76 45
307 Kotak Tax Saver  14.9 7.6 12.3 10.4 9 10 2.23 53.77  16.4 8.9 13.8 9 10 0.94 59.44 1445
308 L&T Tax Advtg Fund  13.5 2.9 10.9 10.3 29 19 2.01 62.79  14.2 3.6 11.7 31 20 1.38 66.07 3360
309 LIC MF Tax Plan Fund  8.9 6.4 11.3 9.5 15 14 2.50 79.51  10.3 7.6 12.5 16 14 1.29 86.08 305
310 Mahindra Manulife ELSS Kar Bcht Yjn  14.1 2.5 - - 31 - 2.42 13.53  16.0 4.4 - 26 - 0.80 14.73 310
311 Mirae Asset Tax Saver  21.5 10.6 18.1 - 4 1 1.75 23.12  23.4 12.2 19.8 4 1 0.30 24.86 5044
312 Motilal Oswal Long Term Eqt  8.8 4.0 12.7 - 22 8 2.03 20.42  10.3 5.3 14.3 22 7 0.77 22.13 1785
313 Nippon India Tax Saver (ELSS)  -0.4 -7.1 4.1 9.5 35 33 1.73 55.34  0.3 -6.4 4.9 35 33 1.20 58.85 9987
314 Parag Parikh Tax Saver NR 28.2 - - - - - 2.39 13.86 NR 29.8 - - - - 1.16 14.10 85
315 PGIM India Long Term Eqt  17.9 6.1 11.1 - 16 17 2.48 17.27  19.4 7.8 12.6 14 12 1.37 18.53 335
316 Principal Tax Svngs Fund  18.9 3.4 11.8 11.5 27 11 2.55 247.04  19.5 4.1 12.4 29 15 2.04 257.51 453
317 Quant Tax  46.9 13.1 17.5 10.4 1 2 2.48 138.09  49.7 14.5 18.4 1 2 0.57 144.49 23
318 Quantum Tax Saving Fund  13.0 3.8 8.9 9.4 24 28 1.79 59.68  13.6 4.2 9.2 28 31 1.29 60.45 79
319 SBI Long Term Equity  18.9 4.2 9.0 10.0 19 26 1.87 169.99  19.6 4.9 9.7 23 28 1.30 178.33 8185
320 Shriram Long Term Equity NR 16.0 - - - - - 2.55 12.94 NR 18.2 - - - - 0.60 13.44 32
321 Sundaram Diversified Equity  9.9 1.4 9.0 8.9 33 25 2.13 112.73  10.3 1.8 9.5 33 30 1.76 116.39 2370
322 Tata India Tax Savings  11.9 5.2 11.6 12.4 17 13 2.03 63.78  13.5 6.6 13.0 17 11 0.69 120.19 2342
323 Taurus Tax Shield Fund  13.7 6.9 11.7 9.2 12 12 2.47 92.36  14.6 7.7 12.6 15 13 1.92 97.73 70
324 Union Long Term Equity  21.6 8.4 9.7 - 7 24 2.53 31.19  22.2 8.9 10.4 8 25 1.96 32.63 299
325 UTI Long Term Equity  20.2 7.4 11.3 9.9 11 15 2.14 110.77  21.3 8.4 12.3 10 17 1.40 118.50 1558
S&P BSE 100 Total Return Index 16.8 9.9 13.2 10.1
S&P BSE 500 Total Return Index 18.4 8.2 12.9 10.2
S&P BSE Sensex Total Return Index 17.2 13.2 14.2 10.3

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

Mutual Fund Insight February 2021 57

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Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Equity: Sectoral-Banking -4.6 2.3 10.4 5.6 17 17 0.0 6.3 14.3 11 11
326 ABSL Banking & Fin Srvcs  1.1 4.3 14.1 - 11 4 2.29 31.82  2.3 5.4 15.3 7 4 1.19 34.16 1910
327 ABSL Banking ETF NR -3.3 - - - - - 0.16 310.56 NR - - - - - - - 110
328 Axis Banking ETF NR - - - - - - 0.16 311.95 NR - - - - - - - 67
329 Baroda Banking & Fin Services  -1.0 7.2 12.2 - 6 12 2.73 25.80  -0.3 8.0 13.0 6 8 1.82 27.43 52
330 Edelweiss ETF - Nifty Bank NR -3.8 6.9 13.3 - 7 8 0.12 3152.18 NR - - - - - - - 1
331 HDFC Banking ETF NR - - - - - - 0.16 312.55 NR - - - - - - - 152
332 ICICI Pru Bank ETF NR -3.6 - - - - - 0.16 310.67 NR - - - - - - - 820
333 ICICI Pru Banking & Fin Srvcs Fund  -5.5 2.5 13.6 13.0 12 6 2.15 65.82  -4.7 3.5 14.8 8 6 1.28 71.38 3289
334 ICICI Pru Private Banks ETF NR -4.5 - - - - - 0.16 169.93 NR - - - - - - - 2163
335 IDBI Banking & Fin Services NR 0.3 - - - - - 2.52 11.51 NR 1.2 - - - - 1.56 11.99 109
336 Invesco India Financial Services  2.4 7.3 14.7 11.7 5 3 2.76 65.18  3.5 8.8 16.4 4 3 1.15 73.26 265
337 Kotak Banking ETF NR -4.4 6.5 13.0 - 10 10 0.18 315.28 NR - - - - - - - 6358
338 Kotak PSU Bank ETF NR -30.9 -22.5 -9.6 -8.4 17 17 0.49 172.33 NR - - - - - - - 31
339 LIC MF Banking & Fin Services  -2.1 -1.3 7.1 - 15 15 2.62 12.04  -1.0 -0.1 8.4 11 11 1.51 12.78 58
340 Mirae Asset Banking and Fin Srvcs Fund NR - - - - - - - 10.32 NR - - - - - - 10.33 -
341 Motilal Oswal Nifty Bank NR -3.9 - - - - - 1.03 11.28 NR -3.2 - - - - 0.38 11.37 90
342 Nippon India Banking Fund  -10.6 -0.7 9.5 9.1 14 14 1.98 262.24  -9.9 0.0 10.3 10 10 1.44 276.37 2509
343 Nippon India ETF Bank BeES NR -4.3 6.6 13.0 10.6 9 11 0.18 314.22 NR - - - - - - - 7031
344 Nippon India ETF PSU Bank BeES NR -30.8 -22.4 -9.6 -8.2 16 16 0.49 19.20 NR - - - - - - - 39
345 SBI Banking & Fin Services  4.8 11.5 17.9 - 1 1 2.26 21.09  6.0 12.8 19.2 1 1 1.02 22.35 1997
346 SBI ETF Nifty Bank NR -4.2 6.6 13.1 - 8 9 - 311.54 NR - - - - - - - 3254
347 SBI ETF Private Bank NR - - - - - - - 172.27 NR - - - - - - - 3
348 Sundaram Fin Srvcs Opp Fund  2.7 7.7 13.5 8.9 4 7 2.63 49.73  3.8 8.7 14.4 5 7 1.24 52.59 278
349 Tata Banking & Fin Services  2.7 8.8 17.1 - 3 2 2.56 22.15  4.3 10.6 19.0 3 2 1.04 24.04 597
350 Tata Nifty Private Bank ETF NR -3.5 - - - - - 0.13 173.47 NR - - - - - - - 14
351 Taurus Banking & Financial Srvcs  1.7 9.8 13.9 - 2 5 2.42 29.99  2.3 10.7 15.0 2 5 1.52 32.36 10
352 UTI Bank ETF NR - - - - - - - 312.50 NR - - - - - - - 58
353 UTI Banking & Fin Services  -5.3 -0.5 9.8 7.9 13 13 2.50 97.64  -4.4 0.5 10.9 9 9 1.78 105.92 626
Equity: Sectoral-Infrastructure 9.2 -3.3 6.5 5.6 21 21 10.0 -2.7 7.5 20 20
354 Aditya Birla Sun Life Infra Fund  12.3 -5.6 5.5 6.2 17 18 2.59 33.35  13.1 -4.9 6.3 16 17 1.83 35.40 392
355 BOI AXA Mfg & Infrastructure  28.1 0.4 9.8 6.1 5 3 2.50 19.25  29.8 1.7 11.2 4 2 1.21 21.19 39
356 Canara Robeco Infra Fund  9.0 -3.4 5.2 7.6 13 19 2.58 48.48  10.0 -2.5 6.2 11 18 1.70 51.63 97
357 DSP T.I.G.E.R. Fund  2.7 -3.2 6.8 6.5 12 9 2.45 94.62  3.4 -2.6 7.4 12 10 1.82 98.92 855
358 Franklin Build India Fund  5.4 -0.1 9.1 13.1 6 4 2.31 44.10  6.5 1.1 10.5 5 5 1.33 48.38 911
359 HDFC Infra Fund  -7.5 -14.0 -2.3 1.1 20 21 2.66 14.23  -6.8 -13.4 -1.5 19 20 1.95 15.17 454
360 HSBC Infrastructure Eqt  11.0 -14.4 -1.1 1.7 21 20 2.57 16.45  12.5 -13.5 -0.2 20 19 1.21 17.60 78
361 ICICI Pru Infra Fund  3.6 -2.9 5.6 5.0 11 16 2.40 52.05  4.1 -2.3 6.3 10 16 1.99 54.90 1132
362 IDFC Infrastructure  6.3 -9.3 5.6 - 19 17 2.51 14.76  7.4 -8.2 7.0 18 13 1.43 16.31 512
363 Invesco India Infra Fund  16.2 1.2 9.1 8.7 3 5 2.57 20.28  17.7 2.8 10.9 2 4 1.35 22.90 59
364 Kotak Infra & Eco Reform  3.4 -4.9 6.4 7.9 15 12 2.51 20.54  4.6 -3.6 8.0 14 9 1.31 22.75 242
365 L&T Infra Fund  1.6 -6.5 7.4 6.9 18 8 2.22 15.51  2.9 -5.5 8.4 17 7 0.87 16.62 1178
366 LIC MF Infra Fund  -0.1 -1.2 6.1 4.1 8 15 2.49 15.16  1.1 -0.1 7.3 7 11 1.22 16.39 53
367 Nippon India ETF Infra BeES NR 12.9 0.8 6.2 0.9 4 14 1.09 378.67 NR - - - - - - - 12
368 Nippon India Power & Infra  10.8 -5.3 6.6 2.4 16 10 2.32 104.92  11.5 -4.7 7.2 15 12 1.75 110.06 1163
369 Quant Infrastructure NR 32.3 5.4 11.0 2.9 1 1 2.48 11.48 NR 34.1 6.5 11.8 1 1 2.38 11.90 2
370 SBI Infrastructure  8.2 -0.8 8.6 4.9 7 6 2.58 16.99  8.8 -0.1 9.3 6 6 2.02 17.84 470
371 Sundaram Infrastructure Adv  10.4 -4.1 6.4 3.1 14 13 2.61 34.71  10.9 -3.5 7.0 13 14 2.19 36.19 467
S&P BSE Bankex Total Return Index -2.1 7.8 13.7 11.3
S&P BSE India Infrastructure TRI 8.3 -7.5 4.4 4.0
S&P BSE Sensex Total Return Index 17.2 13.2 14.2 10.3

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

58 Mutual Fund Insight February 2021

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

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Equity: Sectoral-Infrastructure 9.2 -3.3 6.5 5.6 21 21 10.0 -2.7 7.5 20 20
372 Tata Infra Fund  11.1 -1.3 7.6 5.4 9 7 2.55 60.72  11.9 -0.6 8.2 8 8 1.84 63.38 464
373 Taurus Infra Fund NR 13.4 1.3 10.3 6.3 2 2 2.45 27.71 NR 13.8 1.8 11.0 3 3 2.00 29.14 4
374 UTI Infra Fund  3.4 -2.3 6.5 4.4 10 11 2.38 55.25  3.8 -2.0 6.9 9 15 2.08 57.16 1129
Equity: Sectoral-Pharma 66.5 17.4 8.4 14.8 4 4 68.8 18.8 9.6 4 4
375 ABSL Pharma & Healthcare NR 53.8 - - - - - 2.71 16.43 NR 56.6 - - - - 0.97 16.90 434
376 DSP Healthcare NR 76.9 - - - - - 2.30 19.28 NR 80.0 - - - - 0.78 19.99 956
377 ICICI Pru Pharma Hlthcr & Diagn NR 71.4 - - - - - 2.35 17.72 NR 73.5 - - - - 1.45 18.34 2023
378 IDBI Healthcare NR 58.2 - - - - - 2.68 16.77 NR 60.9 - - - - 1.40 17.31 64
379 Mirae Asset Healthcare NR 73.9 - - - - - 2.25 18.99 NR 76.8 - - - - 0.62 19.78 1097
380 Nippon India Pharma Fund NR 66.4 20.5 11.0 15.9 1 1 2.05 253.09 NR 67.9 21.6 12.0 1 1 1.32 270.46 4151
381 SBI Healthcare Opportunities NR 65.8 14.1 5.5 15.5 4 4 2.26 196.73 NR 67.7 15.4 6.7 4 4 1.13 214.57 1512
382 Tata India Pharma & HealthCare NR 64.4 19.0 8.6 - 2 2 2.64 15.13 NR 66.9 21.0 10.4 2 2 1.20 16.44 384
383 UTI Healthcare NR 67.4 16.1 8.5 12.9 3 3 2.52 142.23 NR 68.9 17.2 9.5 3 3 1.83 152.96 610
Equity: Sectoral-Technology 57.7 26.3 18.1 15.0 5 5 59.4 27.6 19.3 5 5
384 ABSL Digital India NR 59.0 26.2 18.9 14.6 3 2 2.65 87.02 NR 60.6 27.4 19.9 3 3 1.55 92.84 735
385 Franklin Technology NR 56.8 25.3 18.0 13.6 4 4 2.59 260.40 NR 58.3 26.3 18.8 4 4 1.68 273.89 418
386 ICICI Pru Tech Fund NR 70.6 27.6 19.0 17.1 1 1 2.56 98.89 NR 71.7 28.6 20.0 2 2 1.74 105.23 938
387 ICICI Prudential IT ETF NR - - - - - - 0.22 243.91 NR - - - - - - - 1321
388 Nippon India ETF Nifty IT NR - - - - - - 0.22 24.43 NR - - - - - - - 763
389 SBI ETF IT NR - - - - - - - 243.68 NR - - - - - - - 38
390 SBI Technology Opportunities NR 47.4 24.6 16.2 14.6 5 5 2.56 59.39 NR 48.8 26.0 17.2 5 5 1.52 106.68 367
391 Tata Digital India NR 54.8 27.5 18.5 - 2 3 2.52 23.39 NR 57.4 29.7 20.5 1 1 1.06 25.47 673
Equity: Thematic 19.8 4.1 9.8 10.7 12 12 21.2 4.8 10.5 11 10
392 ABSL Intl Eqt B NR 15.1 5.5 9.6 8.1 7 8 2.59 21.99 NR 15.5 6.0 10.1 6 7 2.23 22.88 85
393 ABSL Manufacturing Equity NR 26.3 1.8 10.3 - 10 6 2.62 16.19 NR 27.3 2.7 - 9 - 1.74 17.08 519
394 Aditya Birla Sun Life Special Opp Fund NR - - - - - - - 11.78 NR - - - - - - 11.83 475
395 Axis Special Situations Fund NR - - - - - - - 10.04 NR - - - - - - 10.05 -
396 DSP Quant NR 25.8 - - - - - 1.30 13.59 NR 26.7 - - - - 0.56 13.75 501
397 Edelweiss MSCI Ind Dom & World HC45 NR - - - - - - 1.05 11.07 NR - - - - - 0.48 11.08 89
398 Franklin India Opp Fund NR 27.3 6.4 11.2 10.7 4 3 2.50 93.62 NR 28.7 7.3 12.2 4 3 1.67 98.98 576
399 ICICI Pru Commodities NR 38.9 - - - - - 2.33 14.25 NR 41.2 - - - - 0.84 14.53 71
400 ICICI Pru Exports & Services NR 17.4 4.5 7.4 13.8 8 11 2.61 68.31 NR 17.9 5.4 8.3 7 8 2.15 72.58 572
401 ICICI Pru FMCG Fund NR 9.7 7.0 10.9 15.2 2 5 2.64 271.35 NR 10.5 8.0 11.8 3 4 1.88 287.85 546
402 ICICI Pru India Opportunities NR 7.3 - - - - - 2.06 11.32 NR 8.9 - - - - 0.55 11.69 2734
403 ICICI Pru Manufacture in India NR 13.6 - - - - - 2.52 11.75 NR 15.1 - - - - 1.63 12.13 592
404 ICICI Prudential Quant Fund NR - - - - - - - 9.93 NR - - - - - - 9.93 -
405 Kotak Pioneer NR 33.1 - - - - - 2.22 13.76 NR 35.5 - - - - 0.46 14.05 768
406 L&T Business Cycles NR 9.3 -1.7 7.4 - 11 10 2.55 17.02 NR 10.4 -0.9 8.2 10 9 1.60 17.83 524
407 Mahindra Mnlife Rrl Bhrt & Con Yjn NR 10.0 - - - - - 2.45 11.14 NR 11.7 - - - - 0.91 11.58 50
408 Nippon India ETF Dividend Opp NR 15.8 5.6 11.3 - 6 2 0.16 33.98 NR - - - - - - - 2
409 Nippon India Quant NR 16.7 5.9 10.1 7.4 5 7 0.98 30.10 NR 17.7 6.7 10.5 5 6 0.20 31.71 24
410 SBI Equity Minimum Variance NR 24.2 - - - - - 0.70 12.71 NR 24.7 - - - - 0.30 12.80 62
411 SBI Magnum COMMA Fund NR 23.9 4.0 15.7 6.1 9 1 2.61 47.33 NR 24.6 4.8 16.5 8 1 2.02 49.86 273
412 Sundaram Services NR 15.4 - - - - - 2.33 14.51 NR 16.6 - - - - 1.20 14.82 1223
413 Tata Ethical Fund NR 26.2 6.9 9.5 11.2 3 9 2.47 202.94 NR 27.7 8.2 10.6 2 5 1.30 219.28 671
S&P BSE 500 Total Return Index 18.4 8.2 12.9 10.2
S&P BSE Healthcare TRI 62.6 14.3 5.8 13.2
S&P BSE India Infrastructure TRI 8.3 -7.5 4.4 4.0
S&P BSE IT Total Return Index 60.0 31.5 19.3 15.7
S&P BSE Sensex Total Return Index 17.2 13.2 14.2 10.3

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

Mutual Fund Insight February 2021 59

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For more on funds, visit www.valueresearchonline.com

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Equity: Thematic 19.8 4.1 9.8 10.7 12 12 21.2 4.8 10.5 11 10
414 Tata Quant Fund NR - - - - - - 2.54 9.08 NR - - - - - 0.89 9.25 98
415 Taurus Ethical Fund NR 28.1 9.7 11.1 10.4 1 4 2.43 66.80 NR 29.7 10.8 12.2 1 2 1.68 71.45 47
416 UTI Transp and Log Fund NR 11.0 -6.6 3.6 13.5 12 12 2.20 104.33 NR 12.2 -5.5 4.8 11 10 1.31 113.38 1383
Equity: Thematic-Dividend Yield 19.5 3.8 10.3 9.0 5 5 20.5 4.5 11.0 5 5
417 ABSL Dividend Yield NR 16.1 0.9 7.0 7.7 4 5 2.52 189.55 NR 17.0 1.6 7.8 4 5 1.77 201.24 714
418 HDFC Dividend Yld Fund NR - - - - - - - 10.07 NR - - - - - - 10.08 -
419 ICICI Pru Dividend Yield Eqt NR 14.1 -0.8 8.5 - 5 4 2.68 18.17 NR 15.1 0.0 9.3 5 4 1.83 19.09 171
420 IDBI Dividend Yield NR 24.4 - - - - - 2.56 13.43 NR 25.9 - - - - 1.63 13.85 86
421 Principal Dividend Yld Fund NR 20.2 5.9 13.3 9.9 2 1 2.58 65.06 NR 20.9 6.6 13.9 2 1 2.10 67.85 180
422 Templeton India Eqt Incm Fund NR 22.9 5.7 11.6 9.8 3 2 2.36 56.97 NR 24.3 6.6 12.5 3 2 1.50 60.16 873
423 UTI Dividend Yld Fund NR 18.9 7.2 10.9 8.6 1 3 2.13 78.07 NR 19.6 7.9 11.6 1 3 1.59 81.99 2388
Equity: Thematic-MNC 18.4 3.8 8.6 14.3 3 3 19.6 4.7 9.6 3 3
424 Aditya Birla Sun Life MNC Fund NR 11.6 3.7 8.2 15.0 2 2 2.06 876.93 NR 12.5 4.6 9.3 2 2 1.15 943.46 3936
425 ICICI Pru MNC NR 29.3 - - - - - 2.54 13.55 NR 31.2 - - - - 1.08 13.85 539
426 SBI Magnum Global Fund NR 19.9 4.4 9.6 13.8 1 1 2.06 212.68 NR 20.8 5.2 10.6 1 1 1.28 226.89 4131
427 UTI MNC Fund NR 12.9 3.4 8.1 13.9 3 3 2.10 222.91 NR 13.9 4.3 9.0 3 3 1.35 238.57 2221
Equity: Thematic-Energy 21.1 3.0 14.6 8.9 2 2 22.8 4.4 16.1 2 2
428 DSP Natural Resrcs & New Enrgy NR 11.5 -0.5 15.1 8.9 2 1 2.61 36.47 NR 12.6 0.4 16.0 2 2 1.43 38.54 372
429 Tata Resources & Energy NR 30.6 6.5 14.2 - 1 2 2.56 19.49 NR 32.9 8.3 16.2 1 1 1.10 21.25 43
Equity: Thematic-PSU -5.8 -7.8 2.2 2.2 3 3 -1.1 -4.5 5.1 2 2
430 ABSL PSU Eqt NR - - - - - - 2.49 9.81 NR - - - - - 0.13 10.00 346
431 CPSE ETF NR -13.5 -12.3 -1.1 - 3 3 0.01 20.35 NR - - - - - - - 11374
432 Invesco India PSU Eqt Fund NR 6.1 -1.0 7.3 5.5 1 1 2.63 19.58 NR 7.2 0.3 8.9 1 1 1.05 21.83 152
433 SBI PSU NR -10.0 -10.1 0.6 -1.0 2 2 2.55 9.38 NR -9.4 -9.4 1.3 2 2 1.92 9.83 184
Equity: Thematic-Consumption 19.3 6.3 12.5 12.8 9 9 20.6 7.5 13.8 8 8
434 ABSL India GenNext Fund NR 14.6 8.9 14.1 15.2 2 3 2.27 104.94 NR 16.0 10.2 15.4 2 3 1.07 114.03 1739
435 BNP Paribas India Consumption NR 18.2 - - - - - 2.37 15.19 NR 20.1 - - - - 0.86 15.74 613
436 Canara Robeco Consumer Trends NR 20.5 11.5 15.1 13.7 1 2 2.60 51.19 NR 22.1 12.9 16.4 1 2 1.28 55.49 460
437 ICICI Pru Bharat Consumption NR 10.6 - - - - - 2.46 11.68 NR 12.4 - - - - 0.92 12.00 327
438 Mirae Asset Great Consumer NR 11.2 7.1 13.6 - 3 4 2.19 41.38 NR 13.0 8.8 15.3 3 4 0.61 46.06 1056
439 Nippon India Consumption NR 24.9 6.3 7.7 10.8 4 9 2.66 85.26 NR 25.9 7.1 8.5 4 8 1.87 90.64 101
440 Nippon India ETF Consumption NR 20.0 6.0 11.5 - 5 7 0.35 63.41 NR - - - - - - - 14
441 Quant Consumption NR 47.4 8.7 15.0 7.6 - - 2.48 36.53 NR 49.1 9.8 16.0 - - 2.38 38.80 3
442 SBI Consumption Opportunities NR 13.9 3.8 11.9 15.8 8 6 2.49 79.87 NR 15.1 5.0 13.0 7 6 1.47 144.11 621
443 Sundaram Rural & Consumption NR 13.5 2.4 12.5 11.2 9 5 2.26 48.02 NR 14.4 3.2 13.4 8 5 1.44 50.58 1508
444 Tata India Consumer NR 21.0 5.1 15.7 - 7 1 2.25 20.94 NR 22.7 6.7 17.6 5 1 0.86 22.72 1186
445 UTI India Consumer Fund NR 15.2 5.9 10.2 9.9 6 8 2.58 31.34 NR 15.7 6.5 10.8 6 7 2.11 32.76 276
Equity: International 20.5 11.9 11.8 6.1 25 25 20.8 12.2 12.1 23 23
446 ABSL Commodity Eqt Global Agri Fund NR 1.4 3.1 5.1 3.8 22 21 1.65 25.51 NR 1.7 3.4 5.5 20 19 1.20 26.31 7
447 ABSL Global Emrgng Opp Fund NR 24.9 10.7 12.7 2.2 12 12 1.13 17.62 NR 25.5 11.1 13.0 12 11 0.63 18.01 159
448 ABSL Global Real Estate Fund NR -7.6 3.7 1.9 - 21 24 1.28 19.50 NR -7.1 4.2 2.4 19 22 0.83 20.21 15
449 ABSL Intl Eqt A NR 13.2 13.7 10.3 11.0 9 14 2.61 26.76 NR 14.2 14.3 10.9 8 13 1.88 27.95 100
450 Axis Global Eqt Alpha Fund of Fund NR - - - - - - 1.66 10.87 NR - - - - - 0.39 10.91 1311
451 DSP Global Allocation NR 21.2 12.2 9.2 - 10 15 2.07 16.25 NR 21.8 12.8 9.6 9 14 1.39 16.70 55
452 DSP US Flexible Equity NR 22.6 15.6 14.4 - 7 9 2.41 34.20 NR 23.4 16.4 15.2 6 8 1.67 36.06 293
S&P BSE 500 Total Return Index 18.4 8.2 12.9 10.2
S&P BSE Con Dis Goods&Service TRI 21.4 0.8 11.0 12.0
S&P BSE Energy Total Return Index 19.4 15.1 21.2 10.4
S&P BSE PSU Total Return Index -12.8 -11.1 0.1 -2.3
S&P BSE Sensex Total Return Index 17.2 13.2 14.2 10.3

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

60 Mutual Fund Insight February 2021

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

Equity REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Equity: International 20.5 11.9 11.8 6.1 25 25 20.8 12.2 12.1 23 23
453 DSP World Agriculture NR 21.0 9.7 8.8 - 15 17 2.44 21.14 NR 21.2 10.0 9.1 15 15 2.31 21.67 37
454 DSP World Energy Fund NR 0.0 1.6 4.7 1.9 24 22 2.12 13.72 NR 0.5 2.0 5.1 22 20 1.54 14.05 43
455 DSP World Gold Fund NR 31.4 16.6 18.4 -0.1 6 5 2.40 19.13 NR 32.1 17.2 19.0 5 4 1.78 19.86 805
456 DSP World Mining Fund NR 34.9 14.0 21.9 -0.2 8 2 2.22 12.32 NR 35.5 14.6 22.5 7 1 1.61 12.86 54
457 Edelweiss ASEAN Eqt Off Shore NR 2.3 3.9 8.4 - - - 2.37 22.15 NR 3.0 4.7 9.5 - - 1.73 23.93 51
458 Edelweiss Emrgng Mkt Opp Eqt Offshr NR 21.7 12.2 15.0 - - - 2.36 17.20 NR 22.8 13.2 15.8 - - 1.46 17.95 30
459 Edelweiss Eur Dyn Eqt Offshr Fund NR 13.5 7.0 5.8 - - - 2.34 13.55 NR 14.3 7.8 6.7 - - 1.60 14.39 32
460 Edelweiss Grtr China Eqt Ofshr Fund NR 57.4 23.6 22.1 15.6 - - 2.35 51.32 NR 58.6 24.7 23.3 - - 1.69 55.27 610
461 Edelweiss US Tech Eqt FOF NR - - - - - - 2.32 17.80 NR - - - - - 1.22 17.96 695
462 Edelweiss US Value Eqt Offshr Fund NR 5.6 9.3 9.3 - - - 2.37 18.95 NR 6.5 10.2 10.2 - - 1.52 20.11 49
463 Franklin Asian Eqt Fund NR 25.8 11.6 15.1 10.7 11 8 2.57 31.00 NR 26.6 12.3 15.9 10 7 1.96 32.59 219
464 Franklin Feeder Franklin Eur Grth NR -9.1 -3.2 0.9 - 25 25 1.62 9.15 NR -8.2 -2.3 2.1 23 23 0.55 9.91 20
465 Franklin Feeder Franklin US Opp NR 45.2 27.5 19.4 - 3 4 1.55 50.26 NR 46.6 28.6 20.5 2 3 0.61 54.30 2545
466 HSBC Asia Pacifc (Ex Jpn) Dvdnd Yld NR 14.5 10.4 13.2 - 13 11 2.06 18.02 NR 15.4 11.2 14.0 11 9 1.31 18.93 7
467 HSBC Brazil NR -23.0 1.3 13.2 - - - 2.44 7.77 NR -22.4 2.0 - - - 1.60 8.24 18
468 HSBC Global Consumer Opp NR 15.2 11.7 12.6 - - - 2.33 17.12 NR 16.1 12.5 13.4 - - 1.53 17.85 4
469 HSBC Global Emerging Markets NR 26.4 11.8 15.2 6.6 - - 2.39 19.85 NR 27.3 12.6 - - - 1.70 21.03 14
470 ICICI Pru Global Advtg (FOF) NR 17.7 - - - - - 0.98 13.38 NR 18.3 - - - - 0.41 13.47 53
471 ICICI Pru Global Stable Eqt (FOF) NR 2.9 7.8 7.6 - 18 18 1.30 17.48 NR 4.1 8.8 8.4 17 17 0.19 18.53 88
472 ICICI Pru US Bluechip Eqt NR 18.6 18.7 16.3 - 5 7 2.52 38.01 NR 19.7 19.7 17.3 4 6 1.57 40.66 987
473 Invesco (I) Feeder Global Eqt Incm NR 7.3 7.4 7.5 - 19 19 1.20 15.21 NR 8.0 8.3 8.7 18 16 0.49 16.37 6
474 Invesco India - Invesco Global Consumer NR - - - - - - - 10.15 NR - - - - - - 10.15 -
475 Invesco India Feeder Pan Eur Eqt NR 1.6 1.9 3.9 - 23 23 0.65 11.52 NR 2.1 2.7 4.9 21 21 0.29 12.32 23
476 Kotak Global Emrgng Market Fund NR 29.1 10.3 11.5 8.1 14 13 1.69 22.29 NR 29.8 11.0 12.5 13 12 1.16 23.63 107
477 Motilal Oswal NASDAQ 100 ETF NR 51.5 31.2 24.5 - 1 1 0.54 919.17 NR - - - - - - - 2337
478 Motilal Oswal Nasdaq 100 FOF NR 50.8 - - - - - 0.50 19.77 NR 51.4 - - - - 0.10 19.94 1485
479 Motilal Oswal S&P 500 Index Fund NR - - - - - - 1.19 12.30 NR - - - - - 0.49 12.36 636
480 Nippon India ETF Hang Seng BeES NR 1.6 3.9 9.0 9.4 20 16 0.86 330.40 NR - - - - - - - 18
481 Nippon India Japan Equity NR 13.2 10.3 8.3 - - - 2.45 16.19 NR 14.4 11.3 9.2 - - 1.42 17.06 75
482 Nippon India US Eqt Opportunities NR 22.4 20.2 17.0 - 4 6 2.69 21.34 NR 24.0 21.5 18.2 3 5 1.53 22.57 237
483 PGIM India Emrgng Markets Eqt Fund NR 20.5 9.5 7.0 7.4 16 20 2.65 17.73 NR 21.4 10.7 8.2 14 18 1.24 19.22 36
484 PGIM India Global Eqt Opp NR 72.4 31.2 20.6 11.7 2 3 2.65 35.22 NR 74.4 32.7 21.9 1 2 1.34 38.08 510
485 Principal Global Opp Fund NR 16.5 9.2 13.4 7.5 17 10 1.43 37.69 NR 17.0 9.7 13.9 16 10 1.00 38.95 21
486 Sundaram Global Brand Fund NR 21.7 9.6 12.2 6.5 - - 1.85 21.91 NR 22.4 10.2 12.9 - - 1.22 22.91 49
Equity: Thematic-ESG
487 Aditya Birla Sun Life ESG Fund NR - - - - - - - 10.04 NR - - - - - - 10.05 -
488 Axis ESG Eqt Fund NR - - - - - - 2.02 13.41 NR - - - - - 0.46 13.60 1903
489 ICICI Prudential ESG Fund NR - - - - - - 2.15 11.29 NR - - - - - 0.46 11.33 1561
490 Kotak ESG Opp Fund NR - - - - - - - 10.09 NR - - - - - - 10.10 -
491 Mirae Asset ESG Sector Leaders ETF NR - - - - - - 0.33 24.03 NR - - - - - - - 98
492 Mirae Asset ESG Sector Leaders Fund of F NR - - - - - - 0.60 10.77 NR - - - - - 0.10 10.78 78
493 Quant ESG Eqt Fund NR - - - - - - 2.41 11.71 NR - - - - - 1.51 11.73 13
494 Quantum India ESG Eqt NR 25.0 - - - - - 1.64 13.19 NR 25.8 - - - - 0.89 13.31 25
495 SBI Magnum Equity ESG NR 13.5 10.4 11.8 10.9 - - 2.11 128.93 NR 14.4 11.4 12.7 - - 1.33 137.04 3107
S&P BSE 500 Total Return Index 18.4 8.2 12.9 10.2

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

Mutual Fund Insight February 2021 61

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For more on funds, visit www.valueresearchonline.com

Hybrid REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Hybrid: Aggressive Hybrid 14.4 6.0 10.0 10.0 32 26 15.7 7.2 11.1 32 26
496 ABSL Eq Hybrid ‘95  11.7 3.6 8.8 10.3 27 20 1.88 858.93  12.6 4.5 9.9 28 20 1.06 928.60 7995
497 ABSL Retirement 40s NR 14.5 - - - - - 2.58 11.85 NR 16.2 - - - - 0.95 12.21 76
498 Axis Equity Hybrid NR 15.1 - - - - - 2.16 12.91 NR 16.7 - - - - 0.75 13.38 1660
499 Axis Retrmnt Svngs - Agrssv Plan NR 16.3 - - - - - 2.37 11.64 NR 18.4 - - - - 0.63 11.86 518
500 Baroda Hybrid Equity  17.1 3.9 8.9 7.9 26 19 2.50 65.13  17.8 4.9 10.1 26 17 1.84 70.94 421
501 BNP Paribas Substantial Eqt Hybrid  14.9 10.3 - - 3 - 2.42 14.91  16.8 12.0 - 2 - 0.77 15.81 483
502 BOI AXA Mid & Small Cap Eqt & Debt  31.1 2.4 - - 30 - 2.62 15.75  32.2 3.2 - 30 - 1.77 16.37 322
503 Canara Robeco Eqt Hybrid  19.7 10.6 11.9 12.4 2 5 1.98 201.13  21.1 11.9 13.2 3 4 0.86 215.73 3906
504 DSP Equity & Bond  17.0 8.2 11.8 10.8 6 6 1.89 191.63  18.2 9.3 13.0 7 6 0.87 205.56 6025
505 Edelweiss Agrsv Hybrid NR 12.7 7.5 9.4 8.1 - - 2.40 30.42 NR 14.5 8.9 10.5 - - 0.57 32.29 20
506 Essel Equity Hybrid NR 6.4 - - - - - 2.35 11.79 NR 8.2 - - - - 0.48 12.35 134
507 Franklin Eqt Hybrid  13.7 6.4 9.4 10.9 13 14 2.21 141.55  14.8 7.6 10.8 14 14 1.21 154.30 1352
508 Franklin Life Stage FoF 20s  7.1 2.3 7.5 8.8 31 24 1.36 89.26  8.0 2.8 8.1 31 25 0.72 92.72 11
509 HDFC Children’s Gift  17.5 7.5 11.8 13.0 9 7 2.02 146.45  18.5 8.5 12.8 11 7 1.17 156.32 3798
510 HDFC Hybrid Equity  13.4 5.8 10.6 12.3 18 12 1.81 62.65  14.1 6.7 11.7 18 12 1.22 65.96 17168
511 HDFC Retrmnt Svngs Hybrid Eqt  17.4 7.8 - - 8 - 2.55 20.18  18.8 9.3 - 8 - 1.35 21.67 493
512 HSBC Equity Hybrid NR 16.1 - - - - - 2.54 13.26 NR 17.8 - - - - 1.02 13.68 498
513 HSBC Managed Solutions India Growth  17.3 6.0 11.0 - 16 11 1.83 21.57  17.7 6.4 11.3 20 13 1.47 21.99 39
514 ICICI Pru Child Care Gift  8.8 5.0 9.1 10.0 23 16 2.51 158.36  9.5 5.8 10.0 25 19 1.80 168.39 671
515 ICICI Pru Equity & Debt  9.0 5.3 10.6 12.4 21 13 1.78 152.53  9.5 6.1 11.8 23 11 1.30 164.99 16331
516 ICICI Pru Retrmnt Hybrid Agrsv NR 13.3 - - - - - 2.50 12.01 NR 15.4 - - - - 1.00 12.43 81
517 IDBI Hybrid Equity  17.0 3.1 - - 28 - 2.59 13.37  17.9 4.7 - 27 - 1.74 14.25 221
518 IDFC Hybrid Equity  13.9 4.6 - - 25 - 2.46 13.31  15.4 6.1 - 24 - 1.18 14.18 525
519 Indiabulls Equity Hybrid NR 12.1 - - - - - 2.36 12.42 NR 14.3 - - - - 0.61 12.95 34
520 Invesco India Equity & Bond NR 9.7 - - - - - 2.50 12.15 NR 11.3 - - - - 0.77 12.61 364
521 JM Equity Hybrid  30.5 6.8 8.3 8.5 12 23 2.14 54.79  31.5 7.9 9.1 13 23 1.52 59.16 6
522 Kotak Equity Hybrid  15.4 7.3 11.0 9.7 10 10 2.20 18.13  16.9 8.7 12.6 9 8 0.92 20.87 1265
523 L&T Hybrid Equity  13.6 5.2 9.2 - 22 15 1.85 30.83  14.8 6.3 10.3 21 15 0.78 33.43 5751
524 LIC MF Equity Hybrid  9.6 5.9 8.6 7.3 17 21 2.52 120.73  10.9 7.2 9.8 16 21 1.38 130.29 428
525 LIC MF ULIS Fund  7.2 6.4 9.0 7.7 14 18 2.28 21.61  8.2 7.5 10.1 15 18 1.20 23.03 321
526 Mahindra Mnulfe Hybrd Eqt Nivsh Yjn NR 17.2 - - - - - 2.55 12.86 NR 19.4 - - - - 0.74 13.21 138
527 Mirae Asset Hybrid Equity  13.7 8.8 12.3 - 4 2 1.89 17.83  15.3 10.5 14.2 4 1 0.39 19.54 4139
528 Motilal Oswal Equity Hybrid NR 15.3 - - - - - 2.48 13.36 NR 17.4 - - - - 0.88 13.87 375
529 Nippon India Equity Hybrid  -5.3 -2.5 4.6 8.1 32 26 1.90 51.56  -4.5 -1.5 5.8 32 26 1.19 56.05 4736
530 PGIM India Hybrid Eqt  11.3 5.5 7.4 6.9 19 - 2.42 79.51  13.1 7.1 9.0 17 - 0.78 88.19 106
531 Principal Hybrid Equity  16.3 5.3 11.9 10.6 20 4 2.23 89.52  17.8 6.6 13.2 19 5 1.01 97.22 1084
532 Quant Absolute NR 35.9 12.3 13.0 11.4 1 1 2.48 189.86 NR 37.3 13.4 13.7 1 3 2.38 196.29 7
533 SBI Equity Hybrid  12.9 8.6 11.1 11.8 5 9 1.66 164.41  13.6 9.4 12.1 6 10 0.99 176.03 34353
534 SBI Magnum Children’s Benefit Fund - Inv NR - - - - - - 2.66 12.83 NR - - - - - 1.01 12.89 78
535 Shriram Hybrid Equity  12.7 7.2 9.0 - 11 17 2.35 19.88  14.4 8.6 10.2 10 16 0.65 21.18 57
536 Sundaram Equity Hybrid  10.4 8.1 11.2 7.6 7 8 2.15 106.32  11.5 9.4 12.3 5 9 1.07 113.65 1604
537 Tata Hybrid Equity  10.9 4.9 7.5 11.0 24 25 1.97 243.15  12.1 6.3 8.7 22 24 0.95 261.41 3352
538 Tata Retrmnt Svngs Moderate  15.1 6.4 12.3 - 15 3 2.18 36.31  16.8 7.9 13.8 12 2 0.81 40.52 1252
539 Union Hybrid Eqt Fund NR - - - - - - - 10.10 NR - - - - - - 10.11 -
540 UTI Hybrid Equity  13.2 3.1 8.4 8.4 29 22 1.99 190.45  14.1 3.8 9.2 29 22 1.34 199.04 3787
Hybrid: Balanced Hybrid 11.4 5.8 8.6 8.7 9 9 12.3 6.5 9.4 9 9
541 Axis Children’s Gift NR 15.5 9.4 10.4 - 2 2 2.50 16.59 NR 17.0 10.9 12.0 2 2 1.19 17.89 526
542 Franklin India Pension Fund NR 8.5 6.0 7.9 9.5 4 5 2.27 145.57 NR 9.3 6.8 8.8 4 6 1.53 154.04 446
543 Franklin Life Stage FoF 30s NR -2.7 0.5 5.5 7.6 9 9 1.37 59.43 NR -2.0 1.2 6.2 9 9 0.77 62.29 5
S&P BSE Sensex Total Return Index 17.2 13.2 14.2 10.3
VR Balanced Total Return Index 14.8 10.7 12.3 9.5
Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

62 Mutual Fund Insight February 2021

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Hybrid REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Hybrid: Balanced Hybrid 11.4 5.8 8.6 8.7 9 9 12.3 6.5 9.4 9 9
544 ICICI Pru Asset Allocator (FOF) NR 13.4 10.5 11.9 10.3 1 1 1.36 66.73 NR 14.8 11.5 12.6 1 1 0.06 70.04 8490
545 ICICI Pru Passive Strategy (FOF) NR 10.7 7.1 10.2 9.4 3 3 0.49 76.06 NR 11.1 7.5 10.6 3 3 0.03 78.58 73
546 LIC MF Children’s Gift NR 12.4 5.3 7.9 6.5 5 6 2.42 20.81 NR 13.5 6.3 9.0 5 5 1.42 22.40 13
547 Tata Young Citizens Fund NR 21.3 5.2 8.4 9.2 6 4 2.52 31.51 NR 22.3 6.1 9.5 6 4 1.72 34.10 204
548 UTI Children’s Career Svngs NR 11.5 4.5 7.8 9.4 7 7 1.76 26.15 NR 11.8 4.7 8.0 7 7 1.57 26.48 3790
549 UTI Retrmnt Benefit Pension Fund NR 12.4 3.2 7.2 7.8 8 8 1.76 28.81 NR 13.2 3.8 7.9 8 8 1.22 30.17 3055
Hybrid: Conservative Hybrid 9.3 5.6 7.6 8.1 35 34 10.3 6.6 8.5 35 34
550 ABSL Regular Savings  9.2 4.2 8.1 9.4 29 12 2.01 44.19  10.1 5.1 9.2 29 13 1.19 47.38 1198
551 ABSL Retirement 50s NR 7.9 - - - - - 2.27 11.30 NR 9.4 - - - - 0.67 11.61 34
552 Axis Regular Saver  13.8 6.2 6.9 7.9 19 27 2.29 22.14  14.9 7.2 8.2 16 23 1.17 24.42 210
553 Axis Retrmnt Svngs - Cons Plan NR 13.7 - - - - - 2.06 11.39 NR 15.8 - - - - 0.32 11.60 106
554 Baroda Conservative Hybrid  13.6 9.2 8.7 8.2 2 7 2.12 29.10  14.6 10.2 9.6 3 9 1.19 31.14 28
555 BNP Paribas Cons Hybrid  8.9 6.5 7.8 8.5 14 17 2.18 32.64  10.5 8.3 9.9 9 8 0.77 37.06 289
556 BOI AXA Conservative Hybrid  11.4 0.2 4.6 6.4 32 31 2.32 21.24  12.1 0.8 5.2 32 31 1.68 22.08 77
557 Canara Robeco Cons Hybrid  13.8 9.1 8.4 8.9 3 8 1.97 68.64  15.1 10.2 9.6 2 10 0.70 74.55 340
558 DSP Regular Savings  9.3 3.4 6.3 7.7 30 28 2.21 40.44  11.1 5.0 7.6 30 28 0.49 43.80 192
559 Essel Regular Savings  5.0 5.0 6.1 7.4 27 29 2.25 20.86  6.8 6.7 7.9 22 26 0.19 23.52 34
560 Franklin Debt Hybrid  7.1 5.8 7.2 8.5 22 24 2.28 62.90  8.0 6.6 8.1 24 25 1.51 66.80 196
561 Franklin Life Stage FoF 40s  -9.0 -0.7 4.0 6.7 33 32 1.46 45.06  -8.5 -0.1 4.8 34 32 0.84 47.49 14
562 Franklin Life Stage FoF 50s Plus  -19.5 -4.1 1.3 4.7 35 34 1.13 29.81  -19.0 -3.4 2.1 35 34 0.34 31.45 14
563 Franklin Life Stage FoF 50s Plus FR  8.0 6.5 7.6 8.1 13 19 0.77 42.45  8.7 7.0 8.1 20 24 0.13 43.96 21
564 HDFC Hybrid Debt  10.2 5.7 8.1 8.6 23 11 1.89 52.36  10.6 6.2 8.7 26 14 1.48 54.47 2413
565 HDFC Retrmnt Svngs Hybrid Debt  10.4 6.1 - - 20 - 2.24 15.17  11.7 7.4 - 15 - 1.17 16.22 96
566 HSBC Managed Solutions Ind Cons  9.3 6.6 7.2 - 10 26 1.64 16.74  10.1 7.2 7.6 17 29 0.88 17.16 54
567 HSBC Regular Savings  11.0 6.4 7.6 8.2 16 20 2.27 42.78  13.0 7.7 8.6 13 16 0.70 45.53 83
568 ICICI Pru Income Optimizer (FOF)  9.2 8.0 7.9 7.9 7 14 1.07 39.68  9.9 8.6 8.4 8 18 0.60 41.38 231
569 ICICI Pru Regular Savings  10.9 8.5 9.8 9.9 5 4 1.82 50.36  11.8 9.2 10.7 5 5 0.93 53.45 2492
570 ICICI Pru Retirement Hybrid Cons NR 11.7 - - - - - 2.06 11.97 NR 13.6 - - - - 0.35 12.36 55
571 ICICI Pru Thematic Advtg (FOF)  24.6 8.9 11.6 9.5 4 2 1.48 89.33  24.2 9.2 11.9 6 3 1.20 90.78 10
572 IDFC Asset Allocation Agrsv  11.8 4.3 7.9 8.7 28 13 1.30 26.19  12.7 5.1 8.7 28 15 0.39 27.37 12
573 IDFC Asset Allocation Cons  7.9 6.3 7.6 8.5 17 18 0.83 24.04  8.7 7.1 8.3 18 19 0.14 25.07 8
574 IDFC Asset Allocation Moderate  9.3 5.5 7.8 8.8 25 15 1.23 25.60  10.0 6.2 8.5 25 17 0.51 26.62 23
575 IDFC Regular Savings  8.5 6.0 7.4 8.6 21 22 2.27 24.52  9.5 6.9 8.3 21 20 1.35 26.30 173
576 Indiabulls Savings Income  6.7 6.3 8.4 - 18 9 2.00 15.03  8.5 7.9 10.0 11 7 0.25 16.19 13
577 Kotak Asset Allocator  25.0 12.9 12.2 10.4 1 1 1.00 108.42  25.6 13.7 13.0 1 1 0.34 112.75 87
578 Kotak Debt Hybrid  13.9 8.1 9.5 9.2 6 5 2.28 37.79  15.2 9.4 10.8 4 4 1.10 41.14 317
579 L&T Conservative Hybrid  8.6 6.4 7.2 7.3 15 25 2.27 39.82  9.2 7.1 7.9 19 27 1.76 42.01 36
580 LIC MF Debt Hybrid  9.9 6.6 7.3 6.8 12 23 2.25 63.19  11.0 7.5 8.3 14 21 1.50 67.20 81
581 Nippon India Hybrid Bond  -8.5 -0.7 3.1 6.3 34 33 1.87 40.06  -7.9 0.0 4.0 33 33 1.26 42.80 909
582 Nippon India Retrmnt Incm Generation  10.5 7.5 7.8 - 8 16 2.06 15.01  11.9 8.8 9.2 7 12 0.31 16.23 263
583 SBI Debt Hybrid  13.5 7.0 8.4 8.8 9 10 1.81 46.91  14.2 7.8 9.3 12 11 1.20 50.05 989
584 SBI Mgnm Chldrn’s Bnfit - Svngs Pln  14.8 5.7 11.2 11.0 24 3 2.22 64.90  15.7 6.6 12.1 23 2 1.42 69.50 69
585 Sundaram Debt Oriented Hybrid  7.3 2.3 5.7 7.0 31 30 2.18 20.72  8.3 3.4 6.7 31 30 1.35 21.92 30
586 Tata Retrmnt Savings Cons  11.8 6.6 9.1 - 11 6 2.23 23.28  13.2 8.0 10.6 10 6 1.05 25.83 157
587 UTI Regular Savings  10.2 5.4 7.5 8.5 26 21 1.79 45.83  10.9 6.1 8.2 27 22 1.16 48.27 1673
Hybrid: Equity Savings 9.4 5.4 7.3 14 11 10.6 6.6 8.3 14 10
588 ABSL Eqt Savings  11.0 5.5 8.2 - 10 5 2.54 15.56  12.0 6.6 9.4 10 5 1.55 16.60 495
589 Axis Equity Saver  11.6 8.3 8.3 - 1 4 2.37 15.00  13.1 9.6 9.6 1 2 0.93 16.00 703
S&P BSE Sensex Total Return Index 17.2 13.2 14.2 10.3
VR Balanced Total Return Index 14.8 10.7 12.3 9.5
VR MIP Total Return Index 10.4 8.7 9.2 8.3
Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

Mutual Fund Insight February 2021 63

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Hybrid REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Hybrid: Equity Savings 9.4 5.4 7.3 14 11 10.6 6.6 8.3 14 10
590 Baroda Equity Savings NR 12.0 - - - - - 2.37 11.59 NR 13.2 - - - - 1.32 11.77 385
591 DSP Equity Savings  7.8 4.4 - - 13 - 2.40 14.15  9.4 6.1 - 12 - 0.86 15.16 394
592 Edelweiss Equity Savings  13.0 7.8 8.6 - 2 2 1.74 16.38  14.1 8.9 9.4 2 4 0.74 17.15 80
593 Franklin Eqt Savings NR 8.6 - - - - - 2.07 11.28 NR 10.4 - - - - 0.80 11.74 134
594 HDFC Equity Savings  8.8 5.1 9.1 8.7 11 1 2.12 40.89  9.6 6.2 10.4 11 1 1.27 43.94 2684
595 ICICI Pru Equity Savings  4.8 6.1 8.1 - 6 7 1.48 15.40  5.5 6.8 - 8 - 0.85 14.14 1051
596 IDBI Eqt Savings NR 9.7 6.2 5.7 - - - 2.13 18.96 NR 10.7 7.7 7.0 - - 1.24 20.46 12
597 IDFC Equity Savings NR 9.8 6.0 6.0 6.9 - - 2.48 22.56 NR 11.0 7.1 7.0 - - 1.53 23.93 52
598 Invesco India Equity Savings NR 8.1 - - - - - 2.40 11.47 NR 10.0 - - - - 0.68 11.85 112
599 Kotak Equity Savings  10.4 7.4 8.5 - 3 3 2.20 16.49  11.4 8.3 9.3 4 6 1.24 17.26 1363
600 L&T Equity Savings  10.8 4.5 6.3 - 12 10 1.61 19.79  11.8 5.4 7.2 13 9 0.79 21.09 74
601 Mahindra Mnlfe EqtSvgs Dhn Schy Yjn  13.3 6.0 - - 8 - 2.42 13.40  15.2 7.9 - 5 - 0.86 14.45 201
602 Mirae Asset Equity Savings NR 13.7 - - - - - 1.46 12.64 NR 14.8 - - - - 0.41 12.94 135
603 Nippon India Eqt Svngs Fund  -6.0 -4.5 1.4 - 14 11 2.57 11.01  -5.2 -3.6 2.4 14 10 1.76 11.65 360
604 PGIM India Equity Savings  5.2 5.7 6.8 7.9 9 8 2.48 35.30  6.5 6.8 7.9 9 7 1.19 38.37 39
605 Principal Equity Savings  14.6 6.9 8.2 7.1 4 - 2.42 42.38  16.0 8.3 9.4 3 - 1.12 45.70 46
606 SBI Equity Savings  11.9 6.8 8.2 - 5 6 1.72 15.31  12.7 7.9 9.5 6 3 1.03 16.46 1339
607 Sundaram Equity Savings NR 7.4 - - - - - 2.48 11.56 NR 9.2 - - - - 0.91 11.99 94
608 Tata Equity Savings  9.2 6.1 6.8 7.1 7 9 2.29 37.14  10.4 7.2 7.9 7 8 1.18 40.23 94
609 Union Equity Savings NR 11.1 - - - - - 2.04 12.22 NR 11.6 - - - - 1.42 12.40 173
610 UTI Equity Savings NR 10.1 - - - - - 1.53 11.45 NR 11.0 - - - - 0.68 11.71 181
Hybrid: Arbitrage 3.8 5.1 5.6 7.0 17 15 4.4 5.7 6.2 17 15
611 ABSL Arbitrage  4.1 5.4 5.7 6.8 8 7 0.90 20.63  4.7 6.0 6.3 10 7 0.29 21.55 3575
612 Axis Arbitrage  4.1 5.3 5.6 - 11 8 1.06 14.53  4.9 6.1 6.5 6 3 0.31 15.29 2665
613 BNP Paribas Arbitrage  4.6 5.6 - - 2 - 0.98 12.56  5.2 6.2 - 3 - 0.34 12.86 582
614 BOI AXA Arbitrage NR 3.2 - - - - - 1.00 11.18 NR 4.0 - - - - 0.21 11.38 33
615 DSP Arbitrage NR 4.0 - - - - - 0.95 11.67 NR 4.7 - - - - 0.36 11.88 970
616 Edelweiss Arbitrage  4.5 5.6 5.8 - 3 2 1.10 14.99  5.3 6.3 6.6 2 1 0.40 15.59 3180
617 Essel Arbitrage NR 0.6 - - - - - 1.89 10.67 NR 1.1 - - - - 1.16 10.82 0
618 HDFC Arbtg Fund  3.7 5.1 5.5 6.8 14 14 0.96 23.79 NR 4.3 5.7 6.0 14 14 0.41 15.29 5084
619 ICICI Pru Eqt Arbtg Fund  4.3 5.5 5.7 7.2 7 6 0.98 26.58  4.8 6.1 6.4 9 5 0.45 27.79 9496
620 IDFC Arbtg Fund  3.8 5.4 5.6 7.0 9 10 1.08 25.27  4.6 6.2 6.3 5 8 0.32 26.51 7084
621 Indiabulls Arbitrage  3.0 4.8 5.5 - 15 13 1.12 14.16  3.7 5.4 6.1 15 11 0.42 14.67 17
622 Invesco India Arbtg Fund  4.3 5.4 5.6 6.8 10 9 1.02 24.55  5.0 6.0 6.3 11 10 0.31 25.77 476
623 ITI Arbitrage NR 3.1 - - - - - 1.00 10.46 NR 3.9 - - - - 0.25 10.57 11
624 JM Arbitrage  2.6 4.4 5.0 6.6 16 15 0.96 25.90  3.0 4.8 5.5 16 15 0.70 26.87 108
625 Kotak Eqt Arbtg Fund  4.3 5.6 5.8 7.2 5 3 1.01 28.79  4.9 6.1 6.4 7 6 0.45 29.96 15302
626 L&T Arbitrage Opportunities  4.8 5.6 5.8 - 4 4 0.96 14.84  5.3 6.2 6.4 4 4 0.28 15.42 2254
627 LIC MF Arbitrage NR 3.6 - - - - - 0.99 10.90 NR 4.2 - - - - 0.43 11.03 37
628 Mahindra Manulife Arbitrage Yojana NR - - - - - - 1.14 10.09 NR - - - - - 0.29 10.12 75
629 Mirae Asset Arbtg Fund NR - - - - - - 1.10 10.17 NR - - - - - 0.42 10.21 252
630 Nippon India Arbitrage  4.3 5.7 5.8 7.3 1 1 1.01 20.66  5.1 6.4 6.5 1 2 0.34 21.61 8178
631 PGIM India Arbitrage  3.9 5.1 5.5 - 13 12 1.01 14.49  4.5 5.7 6.1 13 12 0.38 15.01 87
632 Principal Arbitrage  2.4 1.7 - - 17 - 0.88 11.52  2.8 2.2 - 17 - 0.45 11.83 9
633 SBI Arbtg Opp Fund  3.5 5.2 5.5 7.0 12 11 0.90 26.00  4.0 5.8 6.0 12 13 0.45 27.04 3167
634 Sundaram Arbtg NR - - - - - - 0.93 10.33 NR - - - - - 0.22 10.40 63
635 Tata Arbitrage NR 5.0 - - - - - 1.13 11.18 NR 5.8 - - - - 0.38 11.35 2487
636 Union Arbitrage NR 4.5 - - - - - 0.99 10.99 NR 5.0 - - - - 0.40 11.09 83
CCIL T Bill Liquidity Weight 3.1 3.8 4.1 4.7
S&P BSE Sensex Total Return Index 17.2 13.2 14.2 10.3
VR MIP Total Return Index 10.4 8.7 9.2 8.3
Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

64 Mutual Fund Insight February 2021

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Hybrid REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1Y 3Y 5Y 10 Y 3 Y 5 Y Expense NAV Rating 1Y 3Y 5 Y 3 Y 5 Y Expense NAV (` cr)
Hybrid: Arbitrage 3.8 5.1 5.6 7.0 17 15 4.4 5.7 6.2 17 15
637 UTI Arbitrage  4.4 5.6 5.8 6.9 6 5 0.94 27.14  5.0 6.1 6.3 8 9 0.40 28.18 3210
Hybrid: Dynamic Asset Allocation 12.5 6.3 8.4 9.0 15 12 13.9 7.5 9.4 15 12
638 ABSL Asset Allocator MMFoF  21.2 8.7 11.1 8.0 2 1 1.29 36.27  21.6 9.1 11.4 5 3 0.64 18.34 8
639 ABSL Balanced Advantage  15.4 7.9 11.0 9.2 6 2 2.10 64.21  16.6 9.1 12.1 4 1 1.00 69.05 2521
640 Axis Dynamic Equity  10.1 6.2 - - 9 - 2.19 12.47  11.4 7.7 - 9 - 0.92 13.12 1429
641 Baroda Dynamic Equity NR 26.2 - - - - - 2.39 14.11 NR 27.9 - - - - 1.11 14.55 793
642 BNP Paribas Dynamic Eqt NR 11.4 - - - - - 2.35 12.30 NR 13.6 - - - - 0.54 12.72 164
643 BOI AXA Eqt Debt Rebalancer Fund  6.7 0.9 4.1 - 14 12 2.28 15.30  7.3 1.5 4.7 15 12 1.66 15.88 83
644 DSP Dynamic Asset Allocation Fund  12.9 8.4 9.0 - 3 5 2.06 18.23  14.8 10.0 10.4 2 5 0.44 19.74 1959
645 Edelweiss Balanced Advtg  22.6 10.4 10.4 10.2 1 3 2.10 30.23  24.5 11.9 11.7 1 2 0.63 32.44 1924
646 Franklin Dynamic Asset Alloc FoF  -7.7 0.8 5.0 7.0 15 11 1.62 79.54  -6.8 1.9 6.1 14 11 0.53 86.11 772
647 HDFC Balanced Advantage NR 7.6 3.7 9.3 10.2 - - 1.67 216.89 NR 8.2 4.5 10.3 - - 1.12 227.88 38067
648 ICICI Pru Balanced Advtg Fund  11.7 8.2 10.1 11.6 4 4 1.74 42.55  12.4 9.1 11.2 6 4 1.16 46.14 27647
649 IDFC Dynamic Equity  12.9 7.5 8.5 - 7 7 2.23 15.90  14.4 9.0 10.0 7 7 0.92 17.28 1200
650 Invesco India Dynamic Equity  7.8 3.9 8.5 9.2 13 8 2.41 32.47  9.3 5.2 10.0 13 6 1.06 36.22 700
651 ITI Balanced Advtg NR - - - - - - 2.53 9.02 NR - - - - - 0.43 9.21 200
652 Kotak Balanced Advantage NR 13.6 - - - - - 1.95 12.77 NR 15.0 - - - - 0.69 13.12 5180
653 L&T Balanced Advantage  12.8 8.0 7.5 - 5 - 2.25 28.58  14.3 9.3 8.8 3 - 0.88 31.14 956
654 Motilal Oswal Dynamic  8.8 6.1 - - 10 - 2.21 14.38  10.2 7.3 - 10 - 1.05 15.09 1187
655 Nippon India Balanced Advantage NR 11.2 6.5 10.0 9.5 - - 2.08 104.75 NR 12.7 7.8 11.1 - - 0.62 111.89 2856
656 Principal Balanced Advantage  10.0 4.7 6.3 8.4 12 10 2.46 22.73  11.6 6.1 7.7 11 10 1.07 24.88 147
657 SBI Dynamic Asset Allocation  7.8 7.3 8.6 - 8 6 2.04 14.99  9.0 8.6 9.5 8 8 0.99 15.75 584
658 Shriram Balanced Advantage NR 14.0 - - - - - 2.60 11.85 NR 16.2 - - - - 0.60 12.21 42
659 Sundaram Balanced Advtg NR - - - - - - 2.46 12.73 NR - - - - - 0.51 12.94 690
660 Tata Balanced Advantage NR 15.5 - - - - - 2.22 12.47 NR 17.6 - - - - 0.79 12.92 1264
661 Union Balanced Advantage NR 22.0 - - - - - 2.54 13.71 NR 22.7 - - - - 1.77 13.99 555
662 UTI Unit Linked Insurance Plan Fund  14.0 5.4 8.0 8.4 11 9 1.66 28.92  14.9 6.1 8.6 12 9 1.05 30.27 4788
Hybrid: Multi Asset Allocation 14.2 6.6 8.8 8.0 10 10 15.2 7.4 9.7 10 10
663 ABSL Fin Planning FOF Agrsv  19.2 7.4 11.0 - 6 2 1.34 27.89  20.3 8.3 11.9 5 2 0.04 29.50 138
664 ABSL Fin Planning FOF Cons  14.1 7.6 8.4 - 5 7 1.12 21.71  14.7 8.1 8.9 6 8 0.36 22.62 12
665 ABSL Fin Planning FOF Moderate Plan  16.9 7.8 9.6 - 4 5 1.30 24.26  17.5 8.4 10.2 4 5 0.47 25.26 22
666 Axis Retrmnt Svngs - Dynamic Plan NR 17.7 - - - - - 2.35 11.78 NR 19.8 - - - - 0.53 12.00 254
667 Axis Triple Advantage  18.0 11.5 11.5 9.2 1 1 2.33 25.36  19.7 12.8 12.8 1 1 0.75 27.73 630
668 Essel 3 in 1  12.6 8.2 8.2 - 3 8 2.19 21.43  14.2 9.5 9.6 2 7 0.34 23.61 16
669 Franklin Multi Asset Solution  -14.0 -2.2 2.3 - 10 10 2.01 11.31  -13.4 -1.5 3.5 10 10 1.08 12.21 20
670 HDFC Dynamic PE Ratio FOF  14.4 5.8 9.8 - 8 4 1.00 21.78  15.3 6.7 10.8 8 3 0.23 23.24 17
671 HDFC Multi Asset NR 20.9 9.0 9.6 9.7 - - 2.47 40.56 NR 22.1 9.8 10.3 - - 1.52 42.70 411
672 HSBC Managed Solutions Ind Moderate  16.4 6.3 10.3 - 7 3 1.93 20.43  17.1 6.8 10.7 7 4 1.34 20.90 76
673 ICICI Pru Multi Asset NR 9.9 5.0 10.8 10.6 - - 1.82 304.83 NR 10.7 5.9 11.7 - - 1.24 325.11 10606
674 Motilal Oswal Multi Asset Fund NR - - - - - - 2.04 10.41 NR - - - - - 0.54 10.47 191
675 Nippon India Multi Asset Fund NR - - - - - - 2.11 11.03 NR - - - - - 0.58 11.08 791
676 Quant Multi Asset NR 26.9 13.5 11.0 9.1 - - 2.48 50.67 NR 27.1 13.4 11.0 - - 2.38 50.59 14
677 Quantum Multi Asset FOFs  13.1 8.4 9.4 - 2 6 0.47 21.74  13.5 8.6 9.6 3 6 0.10 21.89 27
678 SBI Multi Asset Allocation NR 14.2 8.2 8.9 9.4 - - 1.90 32.89 NR 15.0 9.2 9.9 - - 1.16 35.02 278
679 Tata Multi Asset Opp Fund NR - - - - - - 2.51 12.55 NR - - - - - 0.90 12.76 466
680 UTI Multi Asset  13.1 5.3 8.0 6.8 9 9 1.98 39.35  14.0 6.3 8.9 9 9 1.23 41.85 677
CCIL T Bill Liquidity Weight 3.1 3.8 4.1 4.7
S&P BSE Sensex Total Return Index 17.2 13.2 14.2 10.3
VR Balanced Total Return Index 14.8 10.7 12.3 9.5

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

Mutual Fund Insight February 2021 65

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Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Long Duration 0.4 3.3 12.5 9.9 3 1 0.5 3.4 12.7 10.6 2 1
681 Bhrt Bond ETF - April 2030 NR 0.2 3.4 13.1 - 2 - 0.01 1132.02 NR - - - - - - - - 11284
682 Bhrt Bond ETF - April 2031 NR 0.1 3.3 - - - - - 1017.25 NR - - - - - - - - 7495
683 Bhrt Bond FOF - April 2030 NR 0.2 3.4 - - - - 0.05 11.31 NR 0.2 3.4 - - - - 0.05 11.31 1653
684 Bhrt Bond FOF - April 2031 NR 0.1 3.2 - - - - 0.05 10.17 NR 0.1 3.2 - - - - 0.05 10.17 1204
685 ICICI Pru Long Term Bond NR 0.1 2.7 11.0 9.9 3 1 2.00 71.99 NR 0.2 2.9 11.6 10.6 2 1 1.40 76.85 872
686 Nippon India Nivesh Lakshya NR 1.5 4.0 13.4 - 1 - 0.59 13.96 NR 1.5 4.1 13.8 - 1 - 0.22 14.08 1646
Debt: Medium to Long Duration 0.5 2.6 10.1 7.5 14 14 0.5 2.8 10.9 8.3 14 14
687 ABSL Income  0.3 3.4 12.8 9.0 1 5 1.07 98.04  0.3 3.5 13.4 9.8 2 5 0.60 103.70 1685
688 Canara Robeco Incm Fund  0.4 2.5 10.1 8.5 9 7 1.88 45.47  0.5 2.8 11.3 9.6 9 6 0.75 48.46 153
689 HDFC Incm Fund  0.5 2.5 9.3 7.1 12 12 2.31 46.83  0.5 2.7 9.9 7.7 12 12 1.61 49.57 688
690 HSBC Debt  0.7 2.9 9.6 8.2 11 8 2.07 34.91  0.8 3.2 10.5 9.1 10 8 1.23 37.17 36
691 ICICI Pru Bond  0.2 2.7 11.5 8.9 6 6 1.13 30.99  0.3 2.8 12.1 9.5 6 7 0.56 32.09 4305
692 ICICI Pru Debt Management (FOF)  0.7 2.5 9.7 8.1 10 9 0.87 34.10  0.7 2.5 9.9 8.7 11 10 0.70 35.24 170
693 IDFC Bond Income  0.7 3.0 11.8 9.5 3 1 1.97 53.85  0.7 3.2 12.5 10.2 4 2 1.35 57.19 701
694 JM Incm Fund  0.5 1.9 10.3 2.4 8 13 1.16 50.32  0.6 2.1 11.4 3.4 8 13 0.40 54.50 21
695 Kotak Bond  1.1 3.6 12.3 9.2 2 4 1.85 61.26  1.2 3.9 13.5 10.3 1 1 0.80 65.58 1646
696 LIC MF Bond Fund  0.4 2.1 8.8 7.8 13 11 1.08 57.20  0.5 2.3 9.8 8.5 13 11 0.18 59.86 231
697 Nippon India Incm Fund  0.3 2.6 10.5 9.3 7 2 1.78 71.34  0.4 2.9 11.5 10.2 7 3 0.72 76.29 431
698 SBI Magnum Incm Fund  0.3 2.8 11.6 9.3 4 3 1.46 54.78  0.4 3.0 12.3 10.1 5 4 0.83 57.36 1710
699 Tata Income  0.1 2.7 11.6 7.8 5 10 1.94 65.32  0.2 3.0 12.6 8.9 3 9 1.09 69.89 55
700 UTI Bond Fund  0.2 1.9 1.1 -0.3 14 14 1.59 50.68  0.3 2.0 1.6 0.4 14 14 1.09 54.32 303
Debt: Medium Duration 0.4 2.7 7.2 6.4 17 14 0.5 2.9 7.8 7.1 16 14
701 ABSL Medium Term Fund  0.5 2.1 8.1 3.0 13 13 1.61 23.55  0.6 2.2 8.9 3.7 12 12 1.06 24.83 1951
702 Axis Strategic Bond  0.6 3.0 10.5 8.0 5 6 1.06 20.99  0.6 3.1 11.3 8.8 5 6 0.35 22.37 1025
703 Bhrt Bond ETF - April 2023 NR 0.3 2.5 11.0 - 3 - 0.01 1111.04 NR - - - - - - - - 4753
704 Bhrt Bond ETF - April 2025 NR 0.1 3.2 - - - - - 1024.17 NR - - - - - - - - 5830
705 Bhrt Bond FOF - April 2023 NR 0.2 2.5 - - - - 0.05 11.09 NR 0.2 2.5 - - - - 0.05 11.09 820
706 Bhrt Bond FOF - April 2025 NR 0.1 3.1 - - - - 0.05 10.23 NR 0.1 3.1 - - - - 0.05 10.23 976
707 BNP Paribas Medium Term  0.4 2.4 7.7 3.0 14 12 1.02 14.94  0.4 2.6 8.3 3.7 13 13 0.44 15.71 30
708 DSP Bond Fund  0.5 2.5 10.0 5.5 9 10 0.77 63.53  0.6 2.6 10.4 5.9 9 10 0.39 66.38 381
709 HDFC Medium Term Debt  0.5 3.3 10.0 8.2 8 4 1.29 43.21  0.6 3.5 10.9 9.1 7 4 0.49 45.42 2147
710 ICICI Pru Medium Term Bond  0.3 2.8 10.4 8.2 6 5 1.72 33.63  0.4 3.0 11.1 8.9 6 5 0.95 35.85 5866
711 ICICI Pru Retrmnt Pure Debt  0.2 2.5 10.2 - 7 - 2.08 12.02  0.3 2.9 12.1 - 3 - 0.38 12.43 480
712 IDFC Bond Medium Term  0.5 2.7 10.9 8.7 4 2 1.44 36.89  0.6 2.9 11.7 9.5 4 2 0.76 38.94 4128
713 Indiabulls Income  0.0 2.4 8.8 8.7 11 3 0.90 17.77  0.1 2.5 9.3 9.2 11 3 0.40 18.91 16
714 Kotak Medium Term  0.4 3.5 8.5 7.0 12 8 1.78 17.36  0.5 3.7 9.6 7.9 10 8 0.74 18.45 1980
715 L&T Resurgent India Bond  1.0 3.9 9.7 7.1 10 7 1.51 15.70  1.1 4.2 10.7 8.1 8 7 0.45 16.54 794
716 Nippon India ETF Nifty CPSE Bond Plus SD NR 0.2 - - - - - 0.15 103.16 NR - - - - - - - - 1027
717 Nippon India Strategic Debt  0.8 3.0 -23.5 -8.2 17 - 2.03 10.65  0.9 3.1 -23.1 -7.4 16 - 1.48 11.26 301
718 SBI Magnum Medium Duration  0.5 3.3 12.3 9.8 1 1 1.26 39.34  0.6 3.4 12.8 10.4 1 1 0.71 41.52 6080
719 Sundaram Medium Term Bond  0.2 1.8 6.3 6.4 15 9 2.18 58.01  0.3 2.0 7.3 7.4 14 9 1.33 62.12 83
720 Tata Medium Term  0.3 2.5 11.4 1.9 2 14 1.40 28.12  0.4 2.8 12.4 2.9 2 14 0.40 30.42 70
721 Union Medium Duration Fund NR 0.4 2.5 - - - - 1.11 10.27 NR 0.4 2.7 - - - - 0.54 10.29 414
722 UTI Medium Term  0.3 2.2 0.0 3.8 16 11 1.64 14.07  0.4 2.3 0.6 4.5 15 11 1.05 14.65 91
Debt: Short Duration 0.3 2.1 9.0 6.6 26 23 0.4 2.3 9.7 7.4 26 23
723 Aditya Birla Sun Life ST Fund  0.4 2.5 11.1 8.6 1 5 1.13 36.49  0.5 2.7 11.8 9.4 1 6 0.43 38.31 8532
724 Axis Short Term  0.4 2.2 10.1 8.7 8 3 1.01 23.85  0.4 2.4 10.9 9.4 7 4 0.30 25.31 14362
725 Baroda Short Term Bond  0.3 1.6 7.5 7.8 23 14 1.04 22.73  0.4 1.7 8.3 8.6 23 14 0.27 23.92 591
CCIL T Bill Liquidity Weight 0.1 0.6 3.1 3.8
VR Bond Index 0.5 1.9 7.5 7.3

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

66 Mutual Fund Insight February 2021

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Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Short Duration 0.3 2.1 9.0 6.6 26 23 0.4 2.3 9.7 7.4 26 23
726 BNP Paribas Short term  0.2 2.5 10.1 7.9 7 13 1.05 24.48  0.3 2.6 10.9 8.7 6 13 0.35 25.70 510
727 BOI AXA ST Incm Fund  0.4 1.4 -1.1 -3.1 26 23 1.10 16.98  0.4 1.6 -0.5 -2.6 26 23 0.53 18.09 30
728 Canara Robeco Short Duration  0.2 2.0 9.0 7.7 19 - 1.02 20.24  0.3 2.2 9.6 8.4 19 - 0.42 21.48 1044
729 DSP Short-term Fund  0.2 2.3 9.5 8.1 15 10 0.95 36.71  0.3 2.4 10.2 8.9 17 12 0.30 38.79 3775
730 HDFC Short Term Debt  0.5 2.6 11.0 9.2 2 1 0.77 24.54  0.5 2.7 11.4 9.4 3 5 0.24 24.89 16907
731 HSBC Short Duration  0.2 2.0 5.8 3.5 25 21 1.29 31.03  0.3 2.2 6.9 4.5 25 20 0.29 33.38 274
732 ICICI Pru Short Term  0.4 2.5 10.6 8.7 3 4 1.16 45.71  0.5 2.7 11.5 9.5 2 1 0.40 48.36 22802
733 IDBI Short Term Bond  0.4 2.1 9.9 5.3 10 17 1.30 19.92  0.4 2.2 10.5 6.2 11 17 1.00 21.30 22
734 IDFC All Seasons Bond Fund  0.2 2.1 10.5 9.0 4 2 0.49 34.20  0.2 2.2 11.0 9.5 5 3 0.11 35.38 151
735 IDFC Bond Short Term  0.2 1.9 9.7 8.6 14 6 0.80 44.58  0.3 2.0 10.2 9.1 15 7 0.28 46.71 13668
736 Indiabulls ST Fund  0.1 2.3 6.5 6.3 24 15 1.43 1693.59  0.3 2.6 7.8 7.5 24 15 0.13 1844.50 27
737 Invesco India ST Fund  0.2 2.2 9.5 8.0 16 12 1.25 2829.13  0.3 2.5 10.4 9.0 12 10 0.40 3027.20 1195
738 Kotak Bond Short-term  0.3 2.4 10.0 8.6 9 7 1.14 40.91  0.4 2.6 10.9 9.5 8 2 0.34 43.45 19164
739 L&T Short Term Bond  0.3 2.1 9.7 8.5 13 8 0.75 20.86  0.3 2.3 10.2 9.0 16 8 0.25 21.64 4450
740 LIC MF Short Term Debt  0.2 1.9 8.3 - 21 - 1.44 11.74  0.3 2.1 9.4 - 21 - 0.39 11.97 533
741 Mirae Asset Short Term  0.2 1.9 8.6 - 20 - 1.17 12.39  0.3 2.1 9.5 - 20 - 0.30 12.66 728
742 Nippon India Short-term Fund  0.4 2.4 9.5 8.1 17 11 1.25 40.57  0.4 2.6 10.4 8.9 14 11 0.33 42.73 8971
743 PGIM India Short Maturity  0.2 1.7 7.8 4.2 22 19 1.46 35.37  0.3 1.9 8.7 5.1 22 19 0.76 37.83 42
744 Principal Short Term Debt  0.3 2.3 10.3 4.8 6 18 1.03 34.46  0.3 2.4 10.8 5.4 10 18 0.59 36.40 143
745 SBI Short Term Debt  0.4 2.4 9.9 8.4 11 9 0.84 25.10  0.5 2.6 10.4 9.0 13 9 0.34 26.08 22429
746 Sundaram Short Term Debt  0.2 1.6 9.2 3.2 18 22 1.01 32.24  0.3 1.8 9.9 4.0 18 22 0.28 34.41 137
747 Tata Short-term Bond Fund  0.3 2.1 9.8 6.1 12 16 1.23 37.98  0.4 2.4 10.8 7.0 9 16 0.28 40.44 3931
748 UTI Short-term Incm Fund  0.4 2.2 10.5 4.0 5 20 0.95 23.42  0.4 2.3 11.0 4.5 4 21 0.43 24.29 3302
Debt: Low Duration 0.4 1.4 6.4 5.1 25 25 0.4 1.6 6.9 5.6 25 25
749 ABSL Low Duration  0.3 1.5 7.7 7.7 5 4 1.22 512.42  0.3 1.7 8.6 8.6 5 2 0.40 547.47 20981
750 Axis Treasury Advtg Fund  0.3 1.4 7.3 7.8 7 3 0.61 2382.27  0.3 1.5 7.7 8.2 8 4 0.30 2461.29 10178
751 Baroda Treasury Advtg Fund  2.5 3.7 -11.1 -8.4 25 25 0.88 1531.04  2.5 3.8 -10.9 -8.2 25 25 0.67 1569.25 36
752 BNP Paribas Low Duration  0.3 1.5 7.3 7.1 8 12 1.00 31.53  0.4 1.7 8.2 7.9 6 7 0.25 33.35 432
753 Canara Robeco Savings  0.3 1.2 6.4 7.1 18 11 0.50 32.88  0.3 1.3 6.7 7.4 19 13 0.30 33.38 1323
754 DSP Low Duration  0.2 1.3 6.7 7.5 16 6 0.58 15.41  0.3 1.4 7.0 7.8 18 9 0.31 15.70 3885
755 Edelweiss Low Duration  0.3 1.1 -3.3 -0.6 24 24 1.00 2001.74  0.4 1.3 -2.5 0.2 24 24 0.20 2071.31 32
756 HDFC Low Duration  0.5 1.9 8.1 7.5 3 7 1.04 44.75  0.6 2.1 8.8 8.2 2 5 0.44 47.23 24753
757 HSBC Low Duration  0.2 1.2 3.3 2.3 22 21 1.02 16.09  0.3 1.4 4.2 3.2 22 21 0.21 17.07 150
758 ICICI Pru Savings  0.6 2.1 8.6 8.2 2 1 0.55 414.35  0.6 2.1 8.7 8.3 4 3 0.44 417.91 30111
759 IDFC Low Duration  0.3 1.3 6.9 7.5 13 9 0.51 30.02  0.3 1.3 7.2 7.7 17 11 0.28 30.41 7068
760 Invesco India Treasury Advtg  0.2 1.3 7.1 7.7 11 5 0.65 2942.31  0.2 1.4 7.4 8.0 12 6 0.32 3025.57 3088
761 JM Low Duration  0.3 1.1 26.8 6.0 1 16 0.46 29.02  0.3 1.2 26.9 6.2 1 17 0.42 29.27 126
762 Kotak Low Duration  0.3 1.5 7.9 7.8 4 2 1.15 2613.92  0.3 1.7 8.7 8.6 3 1 0.37 2753.49 14064
763 L&T Low Duration  0.2 1.4 6.9 6.2 14 15 0.95 22.01  0.3 1.6 7.5 6.7 11 15 0.30 22.67 1036
764 LIC MF Savings  0.2 1.2 7.0 5.9 12 17 0.83 30.98  0.3 1.4 7.6 6.4 10 16 0.29 32.68 1038
765 Mahindra Manulife Low Duration  0.2 1.2 6.3 6.9 19 13 1.16 1287.42  0.3 1.4 7.2 7.8 16 10 0.34 1332.58 606
766 Mirae Asset Savings  0.2 1.3 6.7 6.3 17 14 0.90 1772.03  0.3 1.4 7.3 7.0 15 14 0.26 1876.05 1016
767 Nippon India Low Duration  0.3 1.5 7.3 7.2 9 10 1.04 2896.81  0.4 1.7 8.0 7.7 7 12 0.35 2987.34 9010
768 PGIM India Low Duration  0.4 1.3 2.3 -0.2 23 23 1.19 23.15  0.4 1.5 3.1 0.5 23 22 0.50 24.31 56
769 Principal Low Duration  0.3 1.1 6.0 -0.1 21 22 0.56 2710.31  0.3 1.2 6.3 0.2 21 23 0.23 2822.51 106
770 SBI Magnum Low Duration  0.3 1.3 6.7 7.5 15 8 1.01 2733.80  0.3 1.5 7.4 7.9 13 8 0.40 2775.91 13894
771 Sundaram Low Duration  0.3 1.1 6.2 3.4 20 19 0.83 25.80  0.3 1.2 6.6 4.0 20 19 0.33 26.88 433
772 Tata Treasury Advantage  0.3 1.5 7.5 5.7 6 18 0.53 3053.46  0.3 1.5 7.7 5.9 9 18 0.35 3095.79 1974
773 UTI Treasury Advtg Fund  0.3 1.3 7.3 3.3 10 20 0.45 2594.80  0.3 1.3 7.4 3.4 14 20 0.38 2623.47 2991
CCIL T Bill Liquidity Weight 0.1 0.6 3.1 3.8

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

Mutual Fund Insight February 2021 67

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Debt REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Ultra Short Duration 0.3 1.0 5.1 5.9 26 15 0.3 1.1 5.7 6.4 26 15
774 Aditya Birla Sun Life Svngs Fund  0.3 1.3 7.0 7.7 1 2 0.48 419.14  0.3 1.4 7.2 7.8 2 2 0.34 423.07 17295
775 Axis Ultra Short Term  0.2 1.0 5.2 - 11 - 1.19 11.60  0.3 1.3 6.2 - 6 - 0.30 11.84 4555
776 Baroda Ultra Short Duration  0.3 1.0 5.1 - 14 - 0.42 1185.38  0.3 1.0 5.3 - 19 - 0.23 1191.11 311
777 BOI AXA Ultra Short Duration  0.2 0.9 4.9 6.7 16 6 0.58 2503.20  0.3 1.0 5.2 6.9 20 7 0.33 2549.55 421
778 Canara Robeco Ultra ST  0.2 0.7 4.5 5.7 20 9 0.95 3027.56  0.3 0.9 5.1 6.3 21 11 0.32 3141.83 401
779 DSP Ultra Short  0.2 0.9 4.7 5.7 19 10 1.01 2687.44  0.3 1.1 5.5 6.4 18 9 0.29 2829.54 3372
780 Essel Ultra Short Term  0.1 0.6 3.8 5.6 25 11 1.60 2185.48  0.2 0.8 4.6 6.4 23 10 0.69 2297.67 24
781 HDFC Ultra Short Term  0.3 1.1 6.4 - 3 - 0.64 11.74  0.3 1.2 6.7 - 3 - 0.34 11.83 16434
782 HSBC Ultra SD NR 0.3 1.0 - - - - 0.49 1049.12 NR 0.3 1.0 - - - - 0.22 1051.62 599
783 ICICI Pru Ultra Short Term  0.3 1.3 6.5 7.5 2 - 0.97 21.35  0.4 1.5 7.2 8.1 1 - 0.39 22.62 9030
784 IDBI Ultra Short Term  0.4 1.2 5.1 6.3 12 8 0.66 2149.61  0.4 1.3 5.5 6.8 17 8 0.34 2247.27 368
785 IDFC Ultra Short Term  0.3 0.9 5.6 - 8 - 0.42 11.83  0.3 1.0 5.8 - 11 - 0.26 11.88 5606
786 Indiabulls Ultra Short Term  0.2 0.6 5.0 6.5 15 7 0.66 2005.02  0.3 0.8 5.6 7.0 15 6 0.11 2081.68 18
787 Invesco India Ultra Short Term  0.2 0.9 5.1 6.7 13 - 0.89 2114.56  0.3 1.0 5.8 7.2 12 - 0.24 2202.80 1034
788 Kotak Savings  0.3 1.0 5.8 7.0 6 4 0.76 33.48  0.3 1.1 6.3 7.4 5 3 0.32 34.39 13560
789 L&T Ultra ST Fund  0.3 0.9 5.5 6.8 9 5 0.39 33.96  0.3 1.0 5.8 7.1 9 5 0.23 34.80 2812
790 LIC MF Ultra ST NR 0.3 0.9 4.3 - 23 - 0.40 1048.39 NR 0.3 1.0 4.6 - 24 - 0.20 1051.33 114
791 Mahindra Manulife Ultra ST NR 0.3 1.0 5.9 - 4 - 0.76 1072.88 NR 0.3 1.1 6.4 - 4 - 0.34 1078.37 220
792 Mirae Asset Ultra SD Fund NR 0.3 - - - - - 0.65 1008.46 NR 0.3 - - - - - 0.30 1009.29 251
793 Motilal Oswal Ultra Short Term  0.3 0.9 4.3 0.6 22 15 0.08 13.46  0.3 0.9 4.3 0.7 25 15 0.08 13.85 33
794 Nippon India Ultra Short Duration  0.4 1.6 4.9 4.3 18 13 1.10 3012.74  0.5 1.8 5.7 5.2 14 13 0.33 3207.52 620
795 PGIM India Ultra ST  0.3 1.0 5.7 9.0 7 1 0.75 26.85  0.3 1.1 6.2 9.3 7 1 0.30 27.33 296
796 Principal Ultra Short Term  0.2 0.8 4.1 3.9 24 14 1.05 2162.74  0.3 1.0 4.9 4.8 22 14 0.25 2241.70 149
797 SBI Magnum Ultra Short Duration  0.3 1.0 5.9 7.2 5 3 0.49 4640.50  0.3 1.1 6.1 7.4 8 4 0.31 4679.24 14533
798 Sundaram Ultra Short Term  0.2 0.7 4.5 - 21 - 1.41 10.79  0.3 1.0 5.6 - 16 - 0.21 10.97 753
799 Tata Ultra Short Term  0.2 0.9 4.9 - 17 - 1.02 11.19  0.3 1.2 5.7 - 13 - 0.22 11.34 371
800 UTI Ultra Short Term  0.3 1.2 5.3 5.2 10 12 0.97 3232.77  0.4 1.3 5.8 5.7 10 12 0.49 3382.51 1557
801 YES Ultra Short Term  0.2 0.6 3.5 - 26 - 0.80 1070.80  0.3 0.8 4.1 - 26 - 0.30 1079.83 1
Debt: Liquid 0.2 0.8 4.0 5.8 41 35 0.3 0.8 4.2 6.0 38 34
802 ABSL Liquid  0.2 0.8 4.3 6.1 6 6 0.31 326.81  0.2 0.8 4.4 6.2 8 6 0.21 328.93 34970
803 Axis Liquid Fund  0.2 0.8 4.3 6.1 9 7 0.25 2255.34  0.2 0.8 4.3 6.2 13 11 0.18 2266.92 27868
804 Baroda Liquid Fund  0.2 0.8 4.1 6.1 20 12 0.32 2332.30  0.3 0.8 4.2 6.2 21 14 0.22 2350.22 3074
805 BNP Paribas Liquid  0.3 0.8 4.1 6.0 19 13 0.18 3116.35  0.3 0.8 4.2 6.2 20 10 0.08 3140.94 1256
806 BOI AXA Liquid Fund  0.2 0.8 4.1 6.0 23 23 0.21 2331.07  0.3 0.8 4.2 6.1 23 22 0.12 2348.71 435
807 Canara Robeco Liquid Fund  0.2 0.8 3.7 5.8 31 29 0.14 2440.66  0.2 0.8 3.7 5.8 33 30 0.12 2448.06 1462
808 DSP Liquid ETF NR 0.2 0.6 3.1 - 39 - 0.60 1000.00 NR - - - - - - - - 95
809 DSP Liquidity Fund  0.2 0.8 4.2 6.0 17 20 0.23 2897.40  0.3 0.8 4.3 6.1 19 18 0.15 2918.09 9033
810 Edelweiss Liquid Fund  0.2 0.8 4.1 6.0 22 16 0.36 2603.48  0.3 0.8 4.4 6.2 10 5 0.11 2631.83 1113
811 Essel Liquid  0.2 0.7 3.7 5.7 32 30 0.20 2216.35  0.2 0.7 3.7 5.8 32 29 0.15 2231.46 35
812 Franklin Liquid  0.2 0.8 4.3 6.2 3 2 0.19 3052.60  0.3 0.8 4.4 6.3 5 2 0.10 3067.79 1720
813 HDFC Liquid Fund  0.2 0.8 4.1 5.9 24 26 0.30 3988.06  0.2 0.8 4.2 6.0 22 25 0.20 4014.71 65240
814 HSBC Cash Fund  0.2 0.8 4.0 6.0 27 19 0.22 2022.95  0.2 0.8 4.1 6.1 26 19 0.12 2032.77 3288
815 ICICI Pru Liquid  0.2 0.8 4.3 6.1 10 10 0.32 300.74  0.2 0.8 4.4 6.2 9 13 0.20 302.33 46016
816 ICICI Pru Liquid ETF NR 0.2 0.6 2.8 - 40 - 0.65 1000.00 NR - - - - - - - - 122
817 IDBI Liquid  0.3 0.8 4.5 6.2 2 3 0.17 2178.73  0.3 0.8 4.6 6.3 2 3 0.13 2195.39 1256
818 IDFC Cash Fund  0.2 0.8 4.0 5.9 26 28 0.20 2454.96  0.3 0.8 4.1 6.0 27 28 0.15 2467.07 9220
819 IIFL Liquid Fund  0.2 0.7 3.4 5.4 36 31 0.25 1573.43  0.2 0.7 3.5 5.4 37 32 0.20 1579.06 82
820 Indiabulls Liquid  0.2 0.7 3.9 5.9 29 27 0.22 1972.84  0.2 0.8 4.0 6.0 29 27 0.12 1988.34 254
821 Invesco India Liquid Fund  0.2 0.8 4.1 6.0 25 25 0.22 2788.86  0.2 0.8 4.2 6.0 25 24 0.15 2804.08 6601
CCIL T Bill Liquidity Weight 0.1 0.6 3.1 3.8

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

68 Mutual Fund Insight February 2021

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Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Liquid 0.2 0.8 4.0 5.8 41 35 0.3 0.8 4.2 6.0 38 34
822 ITI Liquid  0.2 0.7 3.2 - 38 - 0.23 1070.14  0.2 0.7 3.3 - 38 - 0.12 1072.13 34
823 JM Liquid  0.3 0.8 4.0 6.0 28 22 0.14 55.44  0.3 0.8 4.1 6.1 28 23 0.15 55.80 2460
824 Kotak Liquid Fund  0.2 0.8 4.1 6.0 21 24 0.30 4109.79  0.2 0.8 4.2 6.0 24 26 0.20 4126.80 31504
825 L&T Liquid Fund  0.2 0.8 4.2 6.0 12 15 0.20 2785.04  0.3 0.8 4.3 6.1 16 20 0.15 2797.30 7596
826 LIC MF Liquid Fund  0.2 0.8 4.3 6.0 8 18 0.25 3674.29  0.3 0.8 4.4 6.2 4 12 0.11 3706.74 6761
827 Mahindra Manulife Liquid  0.3 0.8 4.3 6.1 7 5 0.26 1318.98  0.3 0.8 4.4 6.2 7 4 0.15 1326.51 2050
828 Mirae Asset Cash Management Fund  0.3 0.8 4.2 6.0 13 17 0.21 2126.95  0.3 0.8 4.3 6.1 14 17 0.11 2153.84 3617
829 Motilal Oswal Liquid  0.2 0.7 3.4 - 37 - 0.36 10.92  0.2 0.7 3.5 - 36 - 0.21 10.96 832
830 Nippon India ETF Liquid BeES NR 0.2 0.6 2.4 3.9 41 34 0.65 1000.00 NR - - - - - - - - 2785
831 Nippon India Liquid  0.2 0.8 4.3 6.1 11 4 0.30 4959.83  0.3 0.8 4.4 6.2 11 7 0.20 4992.70 23106
832 Parag Parikh Liquid  0.2 0.7 3.6 - 33 - 0.26 1141.40  0.2 0.8 3.7 - 31 - 0.16 1144.55 1073
833 PGIM India Insta Cash  0.2 0.8 4.2 6.1 14 8 0.28 264.24  0.2 0.8 4.4 6.2 12 8 0.14 265.93 902
834 Principal Cash Mgmt Fund  0.2 0.7 3.8 2.7 30 35 0.22 1792.99  0.2 0.8 3.8 2.7 30 34 0.15 1803.33 239
835 Quant Liquid Plan  0.4 1.1 5.0 6.4 1 1 0.97 32.12  0.4 1.2 5.3 6.7 1 1 0.62 32.56 180
836 Quantum Liquid Fund  0.2 0.7 3.6 5.4 35 32 0.25 27.51  0.2 0.8 3.7 5.4 35 31 0.15 27.58 530
837 SBI Liquid  0.2 0.8 4.2 6.0 15 21 0.26 3178.68  0.2 0.8 4.3 6.1 17 21 0.18 3196.44 54433
838 Sundaram Money Fund  0.2 0.8 4.2 6.0 18 14 0.26 42.78  0.3 0.8 4.3 6.1 18 16 0.17 43.05 3492
839 Tata Liquid  0.2 0.8 4.3 6.1 5 9 0.32 3200.76  0.2 0.8 4.4 6.2 3 9 0.21 3222.46 18528
840 Union Liquid  0.2 0.8 4.3 4.8 4 33 0.19 1950.89  0.3 0.8 4.4 4.9 6 33 0.09 1966.28 825
841 UTI Liquid Cash Fund  0.2 0.8 4.2 6.1 16 11 0.24 3327.46  0.3 0.8 4.3 6.1 15 15 0.16 3344.03 26271
842 YES Liquid  0.2 0.7 3.6 - 34 - 0.26 1102.14  0.2 0.8 3.7 - 34 - 0.18 1103.85 66
Debt: Money Market 0.3 0.9 5.6 6.9 18 12 0.3 1.0 5.8 7.1 18 12
843 ABSL Money Manager  0.3 1.1 6.6 7.5 1 1 0.34 282.32  0.3 1.1 6.8 7.7 1 1 0.21 284.44 12717
844 Axis Money Market NR 0.3 1.0 6.2 - 5 - 0.31 1094.19 NR 0.3 1.1 6.4 - 4 - 0.16 1096.40 2237
845 Baroda Money Market  0.2 0.8 3.9 - 17 - 0.50 1078.09  0.3 0.8 4.2 - 17 - 0.10 1083.19 29
846 DSP Savings  0.3 0.9 5.7 6.9 12 - 0.46 40.92  0.3 0.9 5.9 7.2 11 - 0.23 41.72 2053
847 Edelweiss Money Market Fund NR 0.2 0.8 6.4 8.3 - - 0.98 22.62 NR 0.3 1.0 7.2 9.0 - - 0.20 24.15 149
848 Franklin Savings  0.3 0.9 6.0 7.3 7 4 0.28 38.61  0.3 1.0 6.2 7.5 7 3 0.13 39.60 1281
849 HDFC Money Market  0.3 1.0 6.5 7.3 2 2 0.35 4378.37  0.3 1.0 6.7 7.5 2 2 0.21 4431.63 12127
850 ICICI Pru Money Market Fund  0.3 1.0 6.2 7.2 4 6 0.33 290.44  0.3 1.0 6.3 7.4 5 8 0.21 292.54 12412
851 IDFC Money Manager  0.2 0.7 5.0 6.0 15 11 0.97 31.67  0.3 0.9 5.8 6.7 13 11 0.20 33.34 2690
852 Indiabulls Savings NR 0.2 0.6 3.5 - 18 - 0.22 1138.27 NR 0.2 0.7 3.6 - 18 - 0.09 1141.09 1
853 Invesco India Money Market  0.3 0.9 5.8 6.7 9 10 0.55 2370.54  0.3 1.0 6.1 7.0 9 10 0.20 2420.82 624
854 Kotak Money Market  0.3 1.1 5.7 7.1 11 7 0.32 3436.43  0.3 1.1 5.8 7.2 14 9 0.22 3452.25 11040
855 L&T Money Market  0.2 0.9 5.4 6.9 13 8 0.73 20.64  0.3 1.0 5.9 7.5 12 4 0.25 21.30 1032
856 Nippon India Money Market  0.3 1.0 6.0 7.3 8 3 0.25 3165.71  0.3 1.1 6.1 7.4 10 6 0.15 3189.34 7487
857 PGIM India Money Market Fund NR 0.2 0.8 - - - - 1.05 1036.45 NR 0.3 1.1 - - - - 0.14 1043.73 103
858 Quant Money Market  0.3 0.7 4.3 6.4 16 - 0.21 32.00  0.3 0.7 4.4 6.5 16 - 0.11 32.31 12
859 SBI Savings  0.3 1.0 5.7 6.8 10 9 0.76 32.30  0.3 1.1 6.3 7.5 6 5 0.23 33.87 23296
860 Sundaram Money Market  0.3 0.9 5.2 - 14 - 0.29 11.59  0.3 0.9 5.2 - 15 - 0.20 11.61 88
861 Tata Money Market  0.3 1.1 6.4 4.7 3 12 0.43 3604.17  0.3 1.1 6.5 4.9 3 12 0.22 3632.01 1279
862 UTI Money Market  0.3 1.0 6.0 7.3 6 5 0.27 2352.83  0.3 1.0 6.1 7.4 8 7 0.18 2372.50 8317
Debt: Overnight 0.2 0.7 3.3 4.8 28 3 0.3 0.7 3.4 5.1 28 3
863 ABSL Overnight  0.2 0.7 3.3 - 19 - 0.22 1101.50  0.3 0.7 3.4 - 18 - 0.10 1104.55 6356
864 Axis Overnight  0.3 0.7 3.4 - 7 - 0.12 1078.55  0.3 0.7 3.4 - 12 - 0.07 1079.71 3736
865 Baroda Overnight  0.3 0.7 3.4 - 6 - 0.12 1071.73  0.3 0.8 3.5 - 6 - 0.04 1072.75 338
866 BNP Paribas Overnight  0.3 0.7 3.3 - 11 - 0.18 1073.05  0.3 0.8 3.4 - 8 - 0.08 1075.10 307
867 BOI AXA Overnight NR 0.3 0.8 - - - - 0.17 1032.06 NR 0.3 0.8 - - - - 0.07 1032.97 59
868 Canara Robeco Overnight NR 0.3 0.7 3.5 - 4 - 0.12 1057.37 NR 0.3 0.7 3.5 - 5 - 0.10 1057.85 101
CCIL T Bill Liquidity Weight 0.1 0.6 3.1 3.8

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

Mutual Fund Insight February 2021 69

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Debt REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Overnight 0.2 0.7 3.3 4.8 28 3 0.3 0.7 3.4 5.1 28 3
869 DSP Overnight  0.3 0.7 3.5 - 2 - 0.18 1092.14  0.3 0.8 3.6 - 3 - 0.10 1094.05 2463
870 Edelweiss Overnight NR 0.3 0.8 3.5 - 1 - 0.15 1058.59 NR 0.3 0.8 3.6 - 1 - 0.10 1059.66 555
871 Franklin Overnight  0.2 0.7 3.2 - 27 - 0.15 1066.60  0.3 0.7 3.3 - 27 - 0.10 1067.64 326
872 HDFC Overnight  0.2 0.7 3.2 5.0 21 2 0.20 3018.49  0.3 0.7 3.3 5.1 23 3 0.10 3035.37 13501
873 HSBC Overnight  0.2 0.7 3.3 - 13 - 0.26 1065.29  0.3 0.8 3.5 - 7 - 0.11 1067.89 410
874 ICICI Pru Overnight  0.2 0.7 3.3 - 20 - 0.20 109.92  0.3 0.7 3.4 - 22 - 0.10 110.15 7708
875 IDFC Overnight  0.2 0.7 3.2 - 23 - 0.22 1087.05  0.3 0.7 3.4 - 21 - 0.09 1089.73 1915
876 Indiabulls Overnight NR 0.2 0.7 3.2 - 25 - 0.20 1057.82 NR 0.3 0.7 3.3 - 26 - 0.10 1059.41 233
877 Invesco India Overnight NR 0.2 0.7 - - - - 0.15 1032.09 NR 0.3 0.7 - - - - 0.09 1032.70 1131
878 ITI Overnight NR 0.2 0.7 3.2 - 22 - 0.18 1041.63 NR 0.3 0.7 3.3 - 24 - 0.08 1042.87 17
879 JM Overnight Fund NR 0.3 0.7 3.3 - 9 - 0.05 1037.25 NR 0.3 0.7 3.4 - 13 - - 1038.03 115
880 Kotak Overnight  0.3 0.7 3.3 - 17 - 0.20 1088.28  0.3 0.7 3.4 - 20 - 0.10 1089.75 4364
881 L&T Overnight Fund  0.2 0.7 3.1 4.5 28 3 0.20 1518.00  0.3 0.7 3.4 5.1 16 1 0.10 1593.56 643
882 LIC MF Overnight NR 0.2 0.7 3.3 - 18 - 0.20 1056.58 NR 0.3 0.7 3.4 - 14 - 0.07 1058.59 158
883 Mahindra Manulife Overnight NR 0.2 0.7 3.3 - 16 - 0.22 1055.31 NR 0.3 0.8 3.4 - 17 - 0.12 1056.86 98
884 Mirae Asset Overnight NR 0.3 0.7 3.4 - 5 - 0.21 1044.91 NR 0.3 0.8 3.6 - 4 - 0.11 1046.21 323
885 Nippon India Overnight  0.2 0.7 3.3 - 10 - 0.19 109.43  0.3 0.8 3.4 - 9 - 0.10 109.65 4173
886 PGIM India Overnight NR 0.3 0.7 3.5 - 3 - 0.20 1052.42 NR 0.3 0.8 3.6 - 2 - 0.10 1053.95 63
887 SBI Overnight  0.2 0.7 3.3 5.0 14 1 0.18 3295.21  0.3 0.7 3.4 5.1 19 2 0.11 3326.81 9183
888 Sundaram Overnight  0.2 0.7 3.3 - 12 - 0.20 1084.32  0.3 0.7 3.4 - 10 - 0.10 1086.31 880
889 Tata Overnight  0.3 0.7 3.3 - 15 - 0.21 1075.73  0.3 0.8 3.4 - 15 - 0.11 1077.67 2094
890 Union Overnight  0.2 0.7 3.2 - 24 - 0.17 1073.78  0.3 0.7 3.3 - 25 - 0.07 1075.68 24
891 UTI Overnight  0.3 0.7 3.4 4.9 8 - 0.12 2773.19  0.3 0.7 3.4 5.0 11 - 0.06 2796.57 6001
892 YES Overnight NR 0.2 0.7 3.2 - 26 - 0.19 1050.61 NR 0.2 0.7 3.3 - 28 - 0.13 1051.45 9
Debt: Dynamic Bond 0.5 2.6 9.7 7.7 26 23 0.6 2.8 10.4 8.4 26 23
893 ABSL Active Debt Multi Manager FoF  0.3 2.2 9.0 7.8 19 14 0.68 28.88  0.3 2.3 9.6 8.4 21 13 0.19 30.02 8
894 ABSL Dynamic Bond Fund  0.6 2.3 9.7 4.7 13 21 1.66 34.23  0.6 2.4 10.4 5.3 16 21 1.06 35.77 1690
895 Axis All Seasons Debt FOF NR 0.4 2.8 - - - - 0.52 10.92 NR 0.5 2.9 - - - - 0.22 10.95 80
896 Axis Dynamic Bond  0.2 3.0 12.3 9.8 2 3 0.67 23.05  0.2 3.1 12.8 10.5 3 3 0.25 24.91 1358
897 Baroda Dynamic Bond  3.5 5.6 11.0 4.5 7 22 1.51 18.47  3.5 5.7 11.4 5.0 8 22 1.18 19.49 21
898 BNP Paribas Flexi Debt Fund  0.5 2.4 9.4 7.3 16 16 1.65 36.32  0.6 2.7 10.4 8.4 14 15 0.50 38.57 120
899 Canara Robeco Dynamic Bond Fund  0.3 2.1 9.6 7.5 15 15 1.75 24.04  0.4 2.3 10.5 8.4 13 14 0.83 25.25 120
900 DSP Strategic Bond Fund  0.5 2.8 12.3 9.7 3 4 1.16 2634.62  0.6 3.0 13.1 10.3 2 4 0.49 2726.97 1788
901 HDFC Dynamic Debt  0.7 2.5 8.9 5.4 20 20 1.79 68.21  0.7 2.6 9.8 6.1 20 20 1.16 72.34 489
902 HSBC Flexi Debt Fund  0.6 2.7 9.0 7.9 18 13 1.73 28.41  0.6 2.9 9.9 8.7 18 11 0.95 30.20 68
903 ICICI Pru All Seasons Bond  0.4 2.8 11.8 9.3 4 6 1.52 27.83  0.4 3.0 12.5 10.1 4 6 0.80 29.08 5039
904 IDBI Dynamic Bond  0.4 2.5 9.8 6.5 11 19 1.54 17.19  0.5 2.7 10.7 7.6 12 19 0.82 18.34 20
905 IDFC Dynamic Bond Fund  0.6 3.1 12.9 10.2 1 1 1.69 27.39  0.7 3.3 13.9 11.0 1 1 0.85 29.27 2978
906 IIFL Dynamic Bond  0.4 2.9 8.2 7.0 22 17 1.07 16.80  0.4 3.0 8.8 7.7 22 18 0.57 17.52 655
907 Indiabulls Dynamic Bond  0.2 3.7 7.3 - 24 - 0.74 1181.29  0.3 3.9 7.8 - 24 - 0.24 1194.04 43
908 JM Dynamic Debt  0.4 2.1 7.8 7.1 23 - 0.60 32.39  0.5 2.3 8.5 7.7 23 - 0.38 33.83 100
909 Kotak Dynamic Bond  0.3 3.2 11.7 10.0 5 2 1.15 29.22  0.4 3.4 12.5 10.7 5 2 0.45 30.71 2071
910 L&T Flexi Bond Fund  0.6 2.7 10.8 8.7 8 8 1.62 23.63  0.7 2.9 11.5 9.6 7 9 0.96 24.90 60
911 Mirae Asset Dynamic Bond  0.3 1.6 9.8 8.4 12 9 1.45 13.19  0.3 1.8 10.8 9.8 11 7 0.50 13.83 140
912 Nippon India Dynamic Bond Fund  0.5 3.8 11.3 8.1 6 12 0.75 29.08  0.5 3.9 11.9 8.8 6 10 0.25 30.63 2403
913 PGIM India Dynamic Bond  0.2 2.1 8.9 8.8 21 7 1.76 2088.97  0.4 2.4 9.9 9.7 17 8 0.87 2243.67 118
914 Quant Dynamic Bond  0.3 0.9 4.9 4.9 26 - 0.21 64.33  0.3 0.9 5.0 5.1 26 - 0.11 65.28 20
915 Quantum Dynamic Bond  0.6 2.2 9.7 8.2 14 11 0.75 16.29  0.6 2.2 9.9 8.4 19 16 0.63 16.36 73
CCIL T Bill Liquidity Weight 0.1 0.6 3.1 3.8
VR Bond Index 0.5 1.9 7.5 7.3

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

70 Mutual Fund Insight February 2021

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Debt REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Dynamic Bond 0.5 2.6 9.7 7.7 26 23 0.6 2.8 10.4 8.4 26 23
916 SBI Dynamic Bond  0.3 2.6 10.4 9.3 10 5 1.65 27.75  0.3 2.8 11.1 10.1 9 5 0.88 29.30 2409
917 Tata Dynamic Bond Fund  0.3 2.4 9.0 6.9 17 18 1.41 32.04  0.4 2.7 10.4 8.0 15 17 0.16 34.81 252
918 Union Dynamic Bond  0.3 2.7 10.8 8.3 9 10 1.49 18.97  0.3 2.8 11.1 8.6 10 12 1.28 19.82 134
919 UTI Dynamic Bond  0.2 1.7 5.9 2.3 25 23 1.59 21.11  0.3 1.9 6.5 3.0 25 23 1.01 22.21 252
Debt: Corporate Bond 0.3 2.4 9.9 7.9 20 15 0.4 2.5 10.4 8.4 20 15
920 ABSL Corporate Bond  0.4 2.7 11.9 9.5 2 3 0.45 85.68  0.4 2.7 12.1 9.6 4 3 0.30 86.47 24424
921 ABSL Retrmnt 50s Plus Debt  0.3 1.9 6.5 - 19 - 2.24 11.11  0.5 2.3 7.9 - 19 - 0.87 11.40 63
922 Axis Corporate Debt  0.3 2.5 11.6 8.4 5 9 0.93 13.14  0.4 2.7 12.4 9.3 2 5 0.27 13.50 3131
923 BNP Paribas Corporate Bond  0.3 2.5 9.9 5.3 12 14 0.70 21.75  0.4 2.6 10.4 5.7 13 14 0.25 22.68 24
924 Canara Robeco Corporate Bond  0.3 2.3 9.6 8.1 15 11 1.02 17.35  0.3 2.5 10.3 8.8 14 11 0.38 18.06 339
925 DSP Corporate Bond  0.2 1.6 9.4 - 17 - 0.51 12.63  0.2 1.6 9.7 - 17 - 0.26 12.70 1904
926 Edelweiss Corporate Bond  0.4 1.3 2.4 0.2 20 15 0.90 13.25  0.5 1.4 2.8 0.7 20 15 0.50 13.65 5
927 Franklin Corporate Debt  0.3 2.8 9.0 8.5 18 8 0.88 76.79  0.4 2.9 9.7 9.2 18 8 0.32 81.14 854
928 HDFC Corporate Bond  0.5 2.9 11.8 9.5 3 2 0.62 24.94  0.6 3.0 12.1 9.7 3 2 0.30 25.18 26279
929 HSBC Corporate Bond Fund NR 0.4 2.0 - - - - 0.75 10.20 NR 0.4 2.1 - - - - 0.35 10.21 782
930 ICICI Pru Corporate Bond  0.4 2.4 10.4 8.9 10 6 0.59 22.57  0.4 2.4 10.8 9.2 10 6 0.28 23.37 18155
931 IDFC Corporate Bond  0.3 3.0 11.6 8.7 4 7 0.58 15.03  0.3 3.1 11.9 9.1 5 9 0.27 15.26 22668
932 Invesco India Corporate Bond  0.2 2.1 10.1 8.3 11 10 0.60 2476.91  0.3 2.2 10.6 8.9 11 10 0.20 2608.83 3241
933 Kotak Corporate Bond  0.3 2.3 9.7 8.9 13 5 0.62 2895.91  0.4 2.4 10.0 9.2 15 7 0.32 2977.08 7980
934 L&T Triple Ace Bond Fund  0.4 3.0 12.4 10.3 1 1 0.63 57.21  0.4 3.1 12.8 10.6 1 1 0.29 60.01 6098
935 Nippon India Corporate Bond Fund  0.4 2.4 9.5 8.0 16 12 0.70 45.11  0.4 2.5 10.0 8.5 16 13 0.30 46.56 1693
936 PGIM India Premier Bond  0.2 2.2 9.6 7.6 14 13 0.95 33.61  0.2 2.4 10.5 8.6 12 12 0.15 36.28 79
937 SBI Corporate Bond  0.3 2.5 10.5 - 9 - 0.79 12.11  0.4 2.6 11.1 - 8 - 0.34 12.23 27761
938 Sundaram Corporate Bond  0.2 2.4 11.0 9.0 7 4 0.52 31.19  0.3 2.4 11.2 9.3 7 4 0.28 31.92 1358
939 Union Corporate Bond  0.2 2.8 10.7 - 8 - 1.02 12.04  0.2 2.9 11.0 - 9 - 0.77 12.15 332
940 UTI Corporate Bond  0.3 2.6 11.0 - 6 - 0.57 12.70  0.3 2.6 11.3 - 6 - 0.29 12.79 2533
Debt: Credit Risk 0.5 2.5 0.2 1.3 17 16 0.6 2.7 1.1 2.2 17 16
941 ABSL Credit Risk  0.7 3.0 9.4 6.0 4 7 1.88 15.07  0.8 3.2 10.2 6.9 4 7 1.13 15.88 1662
942 Axis Credit Risk  0.5 2.4 8.2 6.1 5 6 1.67 16.06  0.6 2.7 9.4 7.4 5 6 0.56 17.30 570
943 Baroda Credit Risk  0.7 2.8 2.4 3.4 12 9 1.83 14.66  0.8 3.0 3.2 4.3 12 9 1.11 15.58 235
944 BOI AXA Credit Risk  0.2 1.4 -44.4 -32.7 17 16 1.51 3.96  0.3 1.5 -44.3 -32.6 17 16 1.23 4.01 70
945 DSP Credit Risk  0.3 1.1 4.8 2.1 11 11 1.58 29.98  0.4 1.4 5.6 2.9 11 12 0.79 31.56 315
946 HDFC Credit Risk Debt  0.7 3.9 10.9 8.3 1 2 1.82 17.99  0.7 4.0 11.4 8.9 1 2 1.17 18.92 6480
947 ICICI Pru Credit Risk  0.5 2.7 9.8 8.6 2 1 1.68 23.35  0.6 2.9 10.5 9.4 2 1 0.91 24.98 6685
948 IDBI Credit Risk  0.6 3.2 -3.5 -1.2 14 14 1.35 13.05  0.7 3.4 -2.9 -0.4 14 14 0.70 13.84 39
949 IDFC Credit Risk  0.6 2.5 7.4 7.2 7 5 1.65 12.99  0.7 2.8 8.4 8.2 7 4 0.66 13.49 804
950 Invesco India Credit Risk  0.2 1.6 8.0 2.4 6 10 1.50 1442.92  0.3 1.8 9.3 3.4 6 10 0.36 1523.60 146
951 Kotak Credit Risk  0.7 1.9 6.6 7.2 8 4 1.74 23.15  0.8 2.1 7.7 8.2 8 3 0.65 24.94 1851
952 L&T Credit Risk  0.3 2.3 5.0 4.3 10 8 1.66 22.18  0.4 2.5 6.0 5.0 10 8 0.87 23.20 251
953 Mahindra Manulife Credit Risk  0.3 1.5 5.7 - 9 - 1.86 11.57  0.4 1.8 6.9 - 9 - 0.81 11.88 119
954 Nippon India Credit Risk  0.8 3.0 -5.9 0.6 15 13 1.61 24.20  0.8 3.1 -5.3 1.3 15 13 1.02 25.81 1284
955 PGIM India Credit Risk  1.1 3.4 -2.2 1.9 13 12 1.76 14.32  1.3 3.7 -1.0 3.0 13 11 0.63 15.28 57
956 SBI Credit Risk  0.5 3.0 9.8 7.5 3 3 1.56 34.08  0.6 3.1 10.5 8.2 3 5 0.93 35.76 3699
957 UTI Credit Risk  0.5 2.1 -27.8 -10.1 16 15 1.62 11.30  0.5 2.4 -27.2 -9.3 16 15 0.77 12.35 349
Debt: Banking and PSU 0.3 2.3 9.8 8.7 19 16 0.3 2.4 10.3 9.1 19 16
958 ABSL Banking & PSU Debt  0.3 2.7 10.9 9.1 4 6 0.68 283.48  0.3 2.8 11.3 9.4 5 6 0.35 289.73 15019
959 Axis Banking & PSU Debt  0.2 2.0 9.6 9.2 12 5 0.62 2051.12  0.2 2.0 9.9 9.5 13 5 0.31 2087.76 17555
960 Baroda Banking & PSU Bond Fund NR - - - - - - - 10.02 NR - - - - - - - 10.02 -
CCIL T Bill Liquidity Weight 0.1 0.6 3.1 3.8
VR Bond Index 0.5 1.9 7.5 7.3

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

Mutual Fund Insight February 2021 71

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For more on funds, visit www.valueresearchonline.com

Debt REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Banking and PSU 0.3 2.3 9.8 8.7 19 16 0.3 2.4 10.3 9.1 19 16
961 DSP Banking & PSU Debt Fund  0.3 2.4 10.9 9.0 5 8 0.58 18.72  0.3 2.5 11.2 9.3 6 10 0.32 19.16 3576
962 Edelweiss Banking and PSU Debt Fund  0.4 3.2 12.9 10.5 1 1 0.55 19.07  0.4 3.3 13.3 10.8 1 1 0.20 19.48 460
963 Franklin Banking & PSU Debt  0.3 2.3 9.1 9.0 15 7 0.53 17.44  0.3 2.4 9.5 9.4 15 7 0.22 17.95 1019
964 HDFC Banking and PSU Debt  0.5 2.7 10.6 8.8 7 9 0.81 17.85  0.5 2.8 11.1 9.3 7 9 0.36 18.24 10652
965 ICICI Pru Banking & PSU Debt  0.4 2.5 9.3 8.3 14 14 0.82 24.92  0.5 2.7 9.8 8.8 14 14 0.37 25.52 14790
966 IDFC Banking & PSU Debt  0.2 2.2 10.9 9.8 3 2 0.65 19.17  0.2 2.3 11.3 10.1 4 2 0.30 19.46 20666
967 Indiabulls Banking & PSU Debt  0.1 1.7 5.1 - 19 - 0.72 1113.96  0.2 1.8 5.7 - 19 - 0.22 1123.61 15
968 Invesco India Banking & PSU Debt  0.3 2.8 9.5 8.7 13 11 0.65 1807.58  0.3 2.9 10.0 9.2 12 11 0.23 1902.70 128
969 ITI Banking & PSU Debt Fund NR 0.3 - - - - - 0.81 10.12 NR 0.3 - - - - - 0.26 10.13 136
970 Kotak Banking and PSU Debt Fund  0.4 2.6 10.5 9.3 8 3 0.76 50.40  0.4 2.8 10.9 9.7 9 3 0.34 51.56 10215
971 L&T Banking & PSU Debt  0.3 2.4 10.4 8.7 10 12 0.61 19.41  0.3 2.5 10.8 9.2 10 12 0.21 20.10 6155
972 LIC MF Banking & PSU Debt  0.2 1.8 8.6 8.5 17 13 0.83 27.41  0.3 2.0 9.2 9.1 16 13 0.28 28.86 2193
973 Mirae Asset Banking And PSU Debt Fund NR 0.2 2.0 - - - - 0.83 10.19 NR 0.2 2.2 - - - - 0.39 10.22 277
974 Nippon India Banking & PSU Debt  0.2 2.4 10.9 9.2 2 4 0.80 16.08  0.3 2.5 11.5 9.7 2 4 0.31 16.37 7101
975 PGIM India Banking & PSU Debt  0.2 2.1 9.9 8.8 11 10 0.78 18.99  0.2 2.3 10.4 9.3 11 8 0.32 19.71 102
976 SBI Banking and PSU  0.3 2.8 10.5 9.1 9 - 0.81 2461.39  0.3 2.9 11.0 9.7 8 - 0.34 2561.93 10996
977 Sundaram Banking & PSU Debt  0.3 1.2 7.6 7.9 18 15 0.36 33.66  0.3 1.3 7.8 8.0 18 15 0.23 33.91 1681
978 Tata Banking & PSU Debt NR 0.3 2.9 10.8 - 6 - 0.71 11.24 NR 0.4 3.0 11.3 - 3 - 0.21 11.32 488
979 UTI Banking & PSU Debt Fund  0.2 1.8 8.9 4.8 16 16 0.32 16.11  0.2 1.8 8.9 4.9 17 16 0.26 16.21 263
Debt: Floater 0.5 2.2 9.0 8.0 7 5 0.6 2.3 9.6 8.5 7 5
980 ABSL Floating Rate NR 0.4 1.8 8.6 8.2 5 3 0.39 264.97 NR 0.4 1.9 8.8 8.5 5 3 0.22 269.72 7492
981 Franklin Floating Rate NR 0.5 1.4 5.9 6.7 7 5 0.97 31.17 NR 0.5 1.6 6.7 7.3 7 5 0.32 32.97 180
982 HDFC Floating Rate Debt NR 0.6 2.3 9.1 8.3 4 2 0.48 37.70 NR 0.6 2.4 9.4 8.5 4 4 0.23 38.05 14927
983 ICICI Pru Floating Interest NR 0.8 2.5 9.5 8.1 3 4 1.42 323.52 NR 0.8 2.7 10.3 9.0 3 2 0.70 342.80 11473
984 Kotak Floating Rate NR 0.3 3.2 11.2 - 2 - 0.63 1155.35 NR 0.3 3.3 11.6 - 2 - 0.23 1161.44 3773
985 Nippon India Floating Rate NR 0.4 2.8 11.3 8.7 1 1 0.57 34.59 NR 0.4 2.9 11.7 9.1 1 1 0.22 35.89 15521
986 SBI Floating Rate Debt Fund NR 1.0 - - - - - 0.45 10.16 NR 1.0 - - - - - 0.25 10.16 60
987 UTI Floater NR 0.3 1.4 7.5 - 6 - 1.29 1175.68 NR 0.4 1.6 8.5 - 6 - 0.38 1200.94 2283
Debt: Gilt 0.5 2.7 11.2 9.4 25 25 0.6 2.9 12.0 10.0 21 21
988 ABSL Govt Securities  0.6 2.7 12.1 9.9 8 12 1.18 63.69  0.6 2.9 12.7 10.6 9 9 0.58 66.46 567
989 Axis Gilt  0.5 3.2 13.1 10.0 5 8 1.00 19.89  0.6 3.3 13.7 10.6 6 8 0.40 20.72 169
990 Baroda Gilt Fund  0.4 2.7 10.0 8.3 20 20 1.84 33.54  0.5 2.9 10.8 9.1 15 15 1.06 35.94 30
991 Canara Robeco Gilt  0.3 2.4 10.3 8.3 18 19 1.25 60.37  0.4 2.6 11.1 9.0 14 17 0.44 62.98 139
992 DSP Govt Securities Fund  0.4 2.7 13.1 10.9 6 2 1.08 73.93  0.4 2.8 13.7 11.7 5 2 0.55 76.81 607
993 Edelweiss Govt Securities Fund  0.5 3.5 13.6 10.3 2 5 1.36 19.03  0.6 3.6 14.1 10.8 4 7 0.87 19.65 75
994 Franklin Govt Securities  0.5 1.7 8.5 6.9 23 24 1.05 47.58  0.5 1.8 9.1 7.6 20 21 0.59 51.03 255
995 HDFC Gilt  0.6 2.7 10.7 8.2 17 21 0.89 43.90  0.7 2.9 11.2 8.6 13 19 0.39 45.31 2401
996 ICICI Pru Gilt  0.5 2.7 12.6 10.0 7 9 1.22 77.90  0.6 2.9 13.2 10.6 7 10 0.61 81.86 4841
997 IDBI Gilt  0.2 2.1 7.9 6.9 25 25 1.55 17.14  0.2 2.3 8.8 7.7 21 20 0.82 18.09 27
998 IDFC GSF Investment Fund  0.7 3.2 13.7 11.5 1 1 1.23 27.95  0.7 3.3 14.4 12.2 3 1 0.61 29.38 2178
999 Invesco India Gilt  0.4 2.2 8.2 8.0 24 23 1.25 2265.41  0.4 2.4 9.2 8.8 19 18 0.48 2420.92 31
1000 Kotak Gilt Investment Fund  1.0 3.6 13.3 10.1 4 7 1.40 78.42  1.1 3.9 14.4 11.2 1 4 0.40 85.03 890
1001 L&T Gilt  0.6 3.0 11.6 8.7 10 17 1.70 54.50  0.7 3.3 12.9 10.1 8 12 0.57 59.18 280
1002 LIC MF G-Sec LT ETF NR 0.6 2.5 11.1 9.5 14 15 0.27 22.11 NR - - - - - - - - 254
1003 LIC MF GSF Fund  0.5 2.5 11.0 9.9 15 10 - 27.86  - - - - - - - - 70
1004 Motilal Oswal 5 Year G-Sec ETF NR - - - - - - - 47.82 NR - - - - - - - - -
1005 Nippon India ETF Long Term Gilt NR 0.6 2.5 11.1 9.8 13 14 0.10 22.45 NR - - - - - - - - 13
1006 Nippon India Gilt Securities Fund  0.5 2.5 11.2 10.5 11 3 1.71 25.48  0.6 2.8 12.3 11.5 10 3 0.62 32.96 2127
CCIL All Sovereign Bond - TRI 0.8 3.5 13.0 11.0
CCIL T Bill Liquidity Weight 0.1 0.6 3.1 3.8

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

72 Mutual Fund Insight February 2021

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For more on funds, visit www.valueresearchonline.com

Debt REGULAR DIRECT

Return (%) Rank Return (%) Rank Assets
No Fund Name Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV Rating 1M 3M 1Y 3Y 1 Y 3 Y Expense NAV (` Cr)
Debt: Gilt 0.5 2.7 11.2 9.4 25 25 0.6 2.9 12.0 10.0 21 21
1007 PGIM India Gilt Fund  0.3 2.0 9.4 8.4 22 18 1.59 23.94  0.4 2.4 10.3 9.2 18 14 0.25 24.72 160
1008 SBI Magnum Gilt  0.4 2.9 11.7 9.9 9 13 0.95 50.47  0.4 3.0 12.2 10.5 11 11 0.47 52.32 4356
1009 Tata GSF  0.3 2.4 9.9 8.1 21 22 1.70 62.42  0.4 2.6 10.6 9.1 16 16 0.85 66.95 225
1010 UTI Gilt  0.4 2.2 10.3 9.4 19 16 0.93 49.38  0.4 2.3 10.6 9.7 17 13 0.64 50.50 836
Debt: Gilt with 10 yr Constant Duration 0.5 2.6 11.8 10.7 5 5 0.5 2.8 12.8 11.6 4 4
1011 DSP 10Y G-Sec NR 0.6 2.2 11.8 9.5 3 4 0.50 17.58 NR 0.6 2.2 12.0 9.7 3 4 0.30 17.84 45
1012 ICICI Pru Constant Maturity Gilt NR 0.4 2.8 13.6 12.0 1 2 0.39 19.15 NR 0.5 2.9 13.8 12.2 1 2 0.23 19.44 327
1013 IDFC Govt Securities Constant Mtrty NR 0.5 3.1 13.2 13.0 2 1 0.61 35.99 NR 0.5 3.2 13.4 13.1 2 1 0.48 36.31 344
1014 SBI ETF 10 Year Gilt NR 0.4 2.1 8.6 8.1 5 5 - 202.97 NR - - - - - - - - 2
1015 SBI Magnum Constant Maturity NR 0.5 2.8 11.6 11.1 4 3 0.64 49.91 NR 0.5 2.9 12.0 11.5 4 3 0.33 51.16 809
Commodities: Gold 2.8 -0.7 26.4 18.3 21 21 2.3 -0.6 27.0 18.6 10 10
1016 ABSL Gold  2.1 -1.5 26.0 17.7 17 20 0.50 15.53  2.2 -1.4 26.5 18.1 8 9 0.04 15.87 206
1017 ABSL Gold ETF NR 3.0 -1.0 26.3 18.4 13 9 0.49 4584.18 NR - - - - - - - - 248
1018 Axis Gold  2.5 -0.8 26.9 19.1 4 1 0.67 15.46  2.6 -0.7 27.3 19.5 4 1 0.17 16.65 197
1019 Axis Gold ETF NR 3.4 -0.7 26.2 18.6 16 4 0.53 43.59 NR - - - - - - - - 329
1020 HDFC Gold  2.7 -0.9 27.5 18.2 1 15 0.59 16.00  2.7 -0.8 28.1 18.7 1 5 0.10 16.50 1005
1021 HDFC Gold ETF NR 3.4 -0.7 26.6 18.2 7 16 0.60 4484.46 NR - - - - - - - - 2005
1022 ICICI Pru Gold ETF NR 3.4 -0.7 25.8 18.2 19 14 0.65 44.76 NR - - - - - - - - 1499
1023 ICICI Pru Regular Gold Svngs (FOF)  2.1 -0.4 26.6 18.5 9 5 0.53 16.55  2.2 -0.3 26.9 18.9 7 4 0.08 16.91 402
1024 IDBI Gold  1.5 0.8 24.2 16.9 21 21 0.66 13.71  1.6 0.9 24.6 17.4 10 10 0.28 14.18 45
1025 IDBI Gold ETF NR 3.1 -1.0 25.6 18.4 20 10 0.35 4625.05 NR - - - - - - - - 89
1026 Invesco India Gold  1.7 -1.1 27.2 18.1 3 18 0.54 15.12  1.8 -1.0 27.8 18.5 3 6 0.16 15.48 46
1027 Invesco India Gold ETF NR 3.4 -0.7 26.7 18.6 5 3 0.45 4539.06 NR - - - - - - - - 70
1028 Kotak Gold  2.7 -0.6 26.6 18.9 8 2 0.55 20.68  2.7 -0.5 27.1 19.4 5 2 0.15 21.44 749
1029 Kotak Gold ETF NR 3.4 -0.7 26.5 18.5 11 6 0.55 437.39 NR - - - - - - - - 1515
1030 Nippon India ETF Gold BeES NR 2.5 -0.8 26.2 18.3 15 12 0.82 43.77 NR - - - - - - - - 5104
1031 Nippon India Gold Savings  2.1 -1.1 26.6 18.0 6 19 0.37 20.54  2.1 -1.0 27.0 18.4 6 7 0.10 21.24 1301
1032 Quantum Gold Fund NR 3.4 -0.7 26.2 18.3 14 13 0.78 2175.85 NR - - - - - - - - 125
1033 Quantum Gold Savings  2.3 -1.0 26.4 18.1 12 17 0.21 20.11  2.3 -1.0 26.5 18.3 9 8 0.06 20.20 64
1034 SBI ETF Gold NR 3.4 -0.7 26.6 18.4 10 8 - 4489.28 NR - - - - - - - - 1790
1035 SBI Gold  2.7 -0.3 27.4 18.5 2 7 0.52 15.60  2.8 -0.2 27.9 19.0 2 3 0.10 16.12 842
1036 UTI Gold ETF NR 3.4 -0.8 26.0 18.3 18 11 1.15 4400.70 NR - - - - - - - - 579
CCIL All Sovereign Bond - TRI 0.8 3.5 13.0 11.0
Domestic Price of Gold 2.8 -1.2 26.6 19.2

Performance as on December 31, 2020 AUM and Expense Ratio as on November 30, 2020

Mutual Fund Insight February 2021 73

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
 SCOREBOARD INDEX For more on funds, visit www.valueresearchonline.com
Aditya Birla SL Active Debt Multi Manager FoF,893 Axis Regular Saver,552 DSP Eqt Fund,159 Franklin Equity,163
ABSL Arbitrage,611 Axis Retrmnt Svngs - Agrssv Plan,499 DSP Equal Nifty 50,14 Franklin Feeder Franklin Eur Grth,464
ABSL Asset Allocator MMFoF,638 Axis Retrmnt Svngs - Cons Plan,553 DSP Equity & Bond,504 Franklin Feeder Franklin US Opp,465
ABSL Bal Bhavishya Yojna,149 Axis Retrmnt Svngs - Dynamic Plan,666 DSP Equity Opp,125 Franklin Floating Rate,981
ABSL Balanced Advantage,639 Axis Short Term,724 DSP Equity Savings,591 Franklin Focused Eqt,164
ABSL Banking & Fin Srvcs,326 Axis Small Cap Fund,245 DSP Focus,160 Franklin Govt Securities,994
ABSL Banking & PSU Debt,958 Axis Special Situations Fund,395 DSP Global Allocation,451 Franklin India Bluechip Fund,22
ABSL Banking ETF,327 Axis Strategic Bond,702 DSP Govt Securities Fund,992 Franklin India Index NSE Nifty Fund,23
ABSL Commodity Eqt Global Agri Fund,446 Axis Treasury Advtg Fund,750 DSP Healthcare,376 Franklin India Opp Fund,398
ABSL Corporate Bond,920 Axis Triple Advantage,667 DSP Liquid ETF,808 Franklin India Pension Fund,542
ABSL Credit Risk,941 Axis Ultra Short Term,775 DSP Liquidity Fund,809 Franklin India Prima Fund,220
ABSL Digital India,384 Baroda Banking & Fin Services,329 DSP Low Duration,754 Franklin India Taxshield Fund,297
ABSL Dividend Yield,417 Baroda Banking & PSU Bond Fund,960 DSP Midcap,218 Franklin Life Stage FoF 20s,508
ABSL Dynamic Bond Fund,894 Baroda Conservative Hybrid,554 DSP Natural Resrcs & New Enrgy,428 Franklin Life Stage FoF 30s,543
ABSL Eq Hybrid ‘95,496 Baroda Credit Risk,943 DSP Nifty 50 Index,15 Franklin Life Stage FoF 40s,561
ABSL Eqt Advantage,120 Baroda Dynamic Bond,897 DSP Nifty Next 50 Index,16 Franklin Life Stage FoF 50s Plus,562
ABSL Eqt Fund,150 Baroda Dynamic Equity,641 DSP Overnight,869 Franklin Life Stage FoF 50s Plus FR,563
ABSL Eqt Savings,588 Baroda ELSS 96 Fund,290 DSP Quant,396 Franklin Liquid,812
ABSL Fin Planning FOF Agrsv,663 Baroda Equity Savings,590 DSP Regular Savings,558 Franklin Multi Asset Solution,669
ABSL Fin Planning FOF Cons,664 Baroda Gilt Fund,990 DSP Savings,846 Franklin Overnight,871
ABSL Fin Planning FOF Moderate Plan,665 Baroda Hybrid Equity,500 DSP Short-term Fund,729 Franklin Savings,848
ABSL Floating Rate,980 Baroda Large & Mid Cap Fund,122 DSP Small Cap,248 Franklin Smaller Companies Fund,250
ABSL Focused Eqt,1 Baroda Large Cap,10 DSP Strategic Bond Fund,900 Franklin Technology,385
ABSL Frontline Eqt Fund,2 Baroda Liquid Fund,804 DSP T.I.G.E.R. Fund,357 Templeton India Eqt Incm Fund,422
ABSL Global Emrgng Opp Fund,447 Baroda Midcap,216 DSP Tax Saver Fund,294 Templeton India Value,285
ABSL Global Real Estate Fund,448 Baroda Money Market,845 DSP Top 100 Eqt Fund,17 HDFC Arbtg Fund,618
ABSL Gold,1016 Baroda Multi Cap,154 DSP Ultra Short,779 HDFC Balanced Advantage,647
ABSL Gold ETF,1017 Baroda Overnight,865 DSP US Flexible Equity,452 HDFC Banking and PSU Debt,964
ABSL Govt Securities,988 Baroda Short Term Bond,725 DSP Value Fund,271 HDFC Banking ETF,331
ABSL Income,687 Baroda Treasury Advtg Fund,751 DSP World Agriculture,453 HDFC Capital Builder Value,272
ABSL India GenNext Fund,434 Baroda Ultra Short Duration,776 DSP World Energy Fund,454 HDFC Children’s Gift,509
ABSL Intl Eqt A,449 BNP Paribas Arbitrage,613 DSP World Gold Fund,455 HDFC Corporate Bond,928
ABSL Intl Eqt B,392 BNP Paribas Cons Hybrid,555 DSP World Mining Fund,456 HDFC Credit Risk Debt,946
ABSL Liquid,802 BNP Paribas Corporate Bond,923 Edelweiss Agrsv Hybrid,505 HDFC Dividend Yld Fund,418
ABSL Low Duration,749 BNP Paribas Dynamic Eqt,642 Bhrt Bond ETF - April 2023,703 HDFC Dynamic Debt,901
ABSL Manufacturing Equity,393 BNP Paribas Flexi Debt Fund,898 Bhrt Bond ETF - April 2025,704 HDFC Dynamic PE Ratio FOF,670
ABSL Medium Term Fund,701 BNP Paribas Focused 25 Eqt,155 Bhrt Bond ETF - April 2030,681 HDFC Eqt Fund,165
ABSL Money Manager,843 BNP Paribas India Consumption,435 Bhrt Bond ETF - April 2031,682 HDFC Equity Savings,594
ABSL Nifty ETF,3 BNP Paribas Large Cap,12 Bhrt Bond FOF - April 2023,705 HDFC Floating Rate Debt,982
ABSL Nifty Next 50 ETF,4 BNP Paribas Liquid,805 Bhrt Bond FOF - April 2025,706 HDFC Focused 30,166
ABSL Overnight,863 BNP Paribas Long Term Equity,291 Bhrt Bond FOF - April 2030,683 HDFC Gilt,995
ABSL Pharma & Healthcare,375 BNP Paribas Low Duration,752 Bhrt Bond FOF - April 2031,684 HDFC Gold,1020
ABSL PSU Eqt,430 BNP Paribas Medium Term,707 Edelweiss Arbitrage,616 HDFC Gold ETF,1021
ABSL Pure Value Fund,270 BNP Paribas Midcap Fund,217 Edelweiss ASEAN Eqt Off Shore,457 HDFC Growth Opportunities,129
ABSL Regular Savings,550 BNP Paribas Multi Cap,156 Edelweiss Balanced Advtg,645 HDFC Hybrid Debt,564
ABSL Retirement 30s,151 BNP Paribas Overnight,866 Edelweiss Banking and PSU Debt Fund,962 HDFC Hybrid Equity,510
ABSL Retirement 40s,497 BNP Paribas Short term,726 Edelweiss Corporate Bond,926 HDFC Incm Fund,689
ABSL Retirement 50s,551 BNP Paribas Substantial Eqt Hybrid,501 Edelweiss Emrgng Mkt Opp Eqt Offshr,458 HDFC Index Nifty 50,24
ABSL Retrmnt 50s Plus Debt,921 BOI AXA Arbitrage,614 Edelweiss Equity Savings,592 HDFC Index Sensex Fund,25
ABSL Sensex ETF,5 BOI AXA Conservative Hybrid,556 Edelweiss ETF - Nifty Bank,330 HDFC Infra Fund,359
ABSL Small Cap,244 BOI AXA Credit Risk,944 Edelweiss ETF Nifty 100 Quality 30,18 HDFC Liquid Fund,813
ABSL Tax Relief 96 Fund,288 BOI AXA Eqt Debt Rebalancer Fund,643 Edelweiss ETF-Nifty 50,19 HDFC Low Duration,756
Aditya Birla Sun Life ESG Fund,487 BOI AXA Large & Midcap Eqt,123 Edelweiss Eur Dyn Eqt Offshr Fund,459 HDFC Medium Term Debt,709
Aditya Birla Sun Life Index Fund,6 BOI AXA Liquid Fund,806 Edelweiss Govt Securities Fund,993 HDFC Mid-Cap Opp Fund,221
Aditya Birla Sun Life Infra Fund,354 BOI AXA Mfg & Infrastructure,355 Edelweiss Grtr China Eqt Ofshr Fund,460 HDFC Money Market,849
Aditya Birla Sun Life Mid Cap Fund,214 BOI AXA Mid & Small Cap Eqt & Debt,502 Edelweiss Large & Midcap,126 HDFC Multi Asset,671
Aditya Birla Sun Life MNC Fund,424 BOI AXA Multi Cap Fund,157 Edelweiss Large Cap,20 HDFC Nifty 50 ETF,26
Aditya Birla Sun Life Special Opp Fund,394 BOI AXA Overnight,867 Edelweiss Liquid Fund,810 HDFC Overnight,872
Aditya Birla Sun Life ST Fund,723 BOI AXA Small Cap,246 Edelweiss Low Duration,755 HDFC Retrmnt Savings Eqt,167
Aditya Birla Sun Life Svngs Fund,774 BOI AXA ST Incm Fund,727 Edelweiss LT Eqt (Tax Svngs),295 HDFC Retrmnt Svngs Hybrid Debt,565
Axis All Seasons Debt FOF,895 BOI AXA Tax Advtg Fund,292 Edelweiss Midcap,219 HDFC Retrmnt Svngs Hybrid Eqt,511
Axis Arbitrage,612 BOI AXA Ultra Short Duration,777 Edelweiss Money Market Fund,847 HDFC Sensex ETF,27
Axis Banking & PSU Debt,959 Canara Robeco Bluechip Eqt,13 Edelweiss MSCI Ind Dom & World HC45,397 HDFC Short Term Debt,730
Axis Banking ETF,328 Canara Robeco Cons Hybrid,557 Edelweiss Multi Cap,161 HDFC Small Cap,251
Axis Bluechip,7 Canara Robeco Consumer Trends,436 Edelweiss Overnight,870 HDFC Taxsaver Fund,298
Axis Children’s Gift,541 Canara Robeco Corporate Bond,924 Edelweiss Small Cap,249 HDFC Top 100,28
Axis Corporate Debt,922 Canara Robeco Dynamic Bond Fund,899 Edelweiss US Tech Eqt FOF,461 HDFC Ultra Short Term,781
Axis Credit Risk,942 Canara Robeco Emrgng Equities Fund,124 Edelweiss US Value Eqt Offshr Fund,462 HSBC Asia Pacifc (Ex Jpn) Dvdnd Yld,466
Axis Dynamic Bond,896 Canara Robeco Eqt Diversified Fund,158 Essel 3 in 1,668 HSBC Brazil,467
Axis Dynamic Equity,640 Canara Robeco Eqt Hybrid,503 Essel Arbitrage,617 HSBC Cash Fund,814
Axis Equity Hybrid,498 Canara Robeco Eqt Tax Saver Fund,293 Essel Equity Hybrid,506 HSBC Corporate Bond Fund,929
Axis Equity Saver,589 Canara Robeco Gilt,991 Essel Large & Midcap,127 HSBC Debt,690
Axis ESG Eqt Fund,488 Canara Robeco Incm Fund,688 Essel Large Cap Equity,21 HSBC Equity Hybrid,512
Axis Focused 25,152 Canara Robeco Infra Fund,356 Essel Liquid,811 HSBC Flexi Debt Fund,902
Axis Gilt,989 Canara Robeco Liquid Fund,807 Essel Long Term Advantage,296 HSBC Focused Eqt Fund,168
Axis Global Eqt Alpha Fund of Fund,450 Canara Robeco Overnight,868 Essel Multi Cap,162 HSBC Global Consumer Opp,468
Axis Gold,1018 Canara Robeco Savings,753 Essel Regular Savings,559 HSBC Global Emerging Markets,469
Axis Gold ETF,1019 Canara Robeco Short Duration,728 Essel Ultra Short Term,780 HSBC Infrastructure Eqt,360
Axis Growth Opportunities,121 Canara Robeco Small Cap,247 Franklin Asian Eqt Fund,463 HSBC Large and Midcap Eqt,130
Axis Liquid Fund,803 Canara Robeco Ultra ST,778 Franklin Banking & PSU Debt,963 HSBC Large Cap Eqt,29
Axis LT Eqt Fund,289 DSP 10Y G-Sec,1011 Franklin Build India Fund,358 HSBC Low Duration,757
Axis Midcap,215 DSP Arbitrage,615 Franklin Corporate Debt,927 HSBC Managed Solutions Ind Cons,566
Axis Money Market,844 DSP Banking & PSU Debt Fund,961 Franklin Debt Hybrid,560 HSBC Managed Solutions Ind Moderate,672
Axis Multicap,153 DSP Bond Fund,708 Franklin Dynamic Asset Alloc FoF,646 HSBC Managed Solutions India Growth,513
Axis Nifty 100 Index,8 DSP Corporate Bond,925 Franklin Eqt Advantage,128 HSBC Multi Cap Eqt,169
Axis Nifty ETF,9 DSP Credit Risk,945 Franklin Eqt Hybrid,507 HSBC Overnight,873
Axis Overnight,864 DSP Dynamic Asset Allocation Fund,644 Franklin Eqt Savings,593 HSBC Regular Savings,567

74 Mutual Fund Insight February 2021

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 SCOREBOARD INDEX For more on funds, visit www.valueresearchonline.com
HSBC Short Duration,731 IDBI Dynamic Bond,904 Invesco India Infra Fund,363 L&T India Large Cap Fund,61
HSBC Small Cap Eqt,252 IDBI Eqt Advantage,301 Invesco India Large Cap,52 L&T India Value Fund,280
HSBC Tax Saver Eqt Fund,299 IDBI Eqt Savings,596 Invesco India Liquid Fund,821 L&T Infra Fund,365
HSBC Ultra SD,782 IDBI Focused 30 Eqt,42 Invesco India Mid Cap Fund,225 L&T Large and Midcap,136
ICICI Pru All Seasons Bond,903 IDBI Gilt,997 Invesco India Money Market,853 L&T Liquid Fund,825
BHARAT 22 ETF,11 IDBI Gold,1024 Invesco India Multicap,180 L&T Low Duration,763
ICICI Pru Asset Allocator (FOF),544 IDBI Gold ETF,1025 Invesco India Nifty ETF,53 L&T Midcap Fund,227
ICICI Pru Balanced Advtg Fund,648 IDBI Healthcare,378 Invesco India Overnight,877 L&T Money Market,855
ICICI Pru Bank ETF,332 IDBI Hybrid Equity,517 Invesco India PSU Eqt Fund,432 L&T Nifty 50 Index Fund,62
ICICI Pru Banking & Fin Srvcs Fund,333 IDBI India Top 100 Eqt,43 Invesco India Small Cap,256 L&T Nifty Next 50 Index Fund,63
ICICI Pru Banking & PSU Debt,965 IDBI Liquid,817 Invesco India ST Fund,737 L&T Overnight Fund,881
ICICI Pru BHARAT 22 FOF,30 IDBI Long Term Value,274 Invesco India Tax Plan Fund,304 L&T Resurgent India Bond,715
ICICI Pru Bharat Consumption,437 IDBI Midcap,224 Invesco India Treasury Advtg,760 L&T Short Term Bond,739
ICICI Pru Bluechip,31 IDBI Nifty Index,44 Invesco India Ultra Short Term,787 L&T Tax Advtg Fund,308
ICICI Pru Bond,691 IDBI Nifty Junior Index,45 ITI Arbitrage,623 L&T Triple Ace Bond Fund,934
ICICI Pru Child Care Gift,514 IDBI Short Term Bond,733 ITI Balanced Advtg,651 L&T Ultra ST Fund,789
ICICI Pru Commodities,399 IDBI Small Cap,254 ITI Banking & PSU Debt Fund,969 LIC MF Arbitrage,627
ICICI Pru Constant Maturity Gilt,1012 IDBI Ultra Short Term,784 ITI Large Cap Fund,54 LIC MF Banking & Fin Services,339
ICICI Pru Corporate Bond,930 IDFC All Seasons Bond Fund,734 ITI Liquid,822 LIC MF Banking & PSU Debt,972
ICICI Pru Credit Risk,947 IDFC Arbtg Fund,620 ITI Long Term Equity,305 LIC MF Bond Fund,696
ICICI Pru Debt Management (FOF),692 IDFC Asset Allocation Agrsv,572 ITI Multi Cap,181 LIC MF Children’s Gift,546
ICICI Pru Dividend Yield Eqt,419 IDFC Asset Allocation Cons,573 ITI Overnight,878 LIC MF Debt Hybrid,580
ICICI Pru Eqt Arbtg Fund,619 IDFC Asset Allocation Moderate,574 ITI Small Cap Fund,257 LIC MF Equity Hybrid,524
ICICI Pru Equity & Debt,515 IDFC Banking & PSU Debt,966 JM Arbitrage,624 LIC MF ETF - Nifty 100,64
ICICI Pru Equity Savings,595 IDFC Bond Income,693 JM Core 11 Fund,55 LIC MF ETF - Nifty 50,65
ICICI Pru Exports & Services,400 IDFC Bond Medium Term,712 JM Dynamic Debt,908 LIC MF ETF - Sensex,66
ICICI Pru Floating Interest,983 IDFC Bond Short Term,735 JM Equity Hybrid,521 LIC MF G-Sec LT ETF,1002
ICICI Pru FMCG Fund,401 IDFC Cash Fund,818 JM Incm Fund,694 LIC MF GSF Fund,1003
ICICI Pru Focused Equity,170 IDFC Core Equity,133 JM Large Cap,56 LIC MF Index Nifty Fund,67
ICICI Pru Gilt,996 IDFC Corporate Bond,931 JM Liquid,823 LIC MF Index Sensex Fund,68
ICICI Pru Global Advtg (FOF),470 IDFC Credit Risk,949 JM Low Duration,761 LIC MF Infra Fund,366
ICICI Pru Global Stable Eqt (FOF),471 IDFC Dynamic Bond Fund,905 JM Multicap,182 LIC MF Large & Midcap,137
ICICI Pru Gold ETF,1022 IDFC Dynamic Equity,649 JM Overnight Fund,879 LIC MF Large Cap,69
ICICI Pru Income Optimizer (FOF),568 IDFC Emrgng Businesses,255 JM Tax Gain Fund,306 LIC MF Liquid Fund,826
ICICI Pru India Opportunities,402 IDFC Equity Savings,597 JM Value,278 LIC MF Multicap,187
ICICI Pru Infra Fund,361 IDFC Focused Eqt Fund,176 Kotak Asset Allocator,577 LIC MF Overnight,882
ICICI Pru Large & Midcap,131 IDFC Govt Securities Constant Mtrty,1013 Kotak Balanced Advantage,652 LIC MF Savings,764
ICICI Pru Liquid,815 IDFC GSF Investment Fund,998 Kotak Banking and PSU Debt Fund,970 LIC MF Short Term Debt,740
ICICI Pru Liquid ETF,816 IDFC Hybrid Equity,518 Kotak Banking ETF,337 LIC MF Tax Plan Fund,309
ICICI Pru Long Term Bond,685 IDFC Infrastructure,362 Kotak Bluechip,57 LIC MF ULIS Fund,525
ICICI Pru LT Eqt (Tax Saving),300 IDFC Large Cap,46 Kotak Bond,695 LIC MF Ultra ST,790
ICICI Pru Manufacture in India,403 IDFC Low Duration,759 Kotak Bond Short-term,738 Mahindra Manulife Arbitrage Yojana,628
ICICI Pru Medium Term Bond,710 IDFC Money Manager,851 Kotak Corporate Bond,933 Mahindra Manulife Credit Risk,953
ICICI Pru Midcap Fund,222 IDFC Multi Cap,177 Kotak Credit Risk,951 Mahindra Manulife ELSS Kar Bcht Yjn,310
ICICI Pru Midcap Select ETF,132 IDFC Nifty,47 Kotak Debt Hybrid,578 Mahindra Manulife Focused Eqt Yjn,188
ICICI Pru MNC,425 IDFC Nifty ETF,48 Kotak Dynamic Bond,909 Mahindra Manulife Liquid,827
ICICI Pru Money Market Fund,850 IDFC Overnight,875 Kotak Emerging Equity,226 Mahindra Manulife Low Duration,765
ICICI Pru Multi Asset,673 IDFC Regular Savings,575 Kotak Eqt Arbtg Fund,625 Mahindra Manulife Midcap Unnati Yjn,228
ICICI Pru Multicap,171 IDFC Sensex ETF,49 Kotak Equity Hybrid,522 Mahindra Manulife MultiCap Bdht Yjn,189
ICICI Pru Nifty 100 ETF,32 IDFC Sterling Value,275 Kotak Equity Opportunities,135 Mahindra Manulife Overnight,883
ICICI Pru Nifty ETF,33 IDFC Tax Advtg (ELSS) Fund,302 Kotak Equity Savings,599 Mahindra Manulife Top 250 Nivsh Yjn,138
ICICI Pru Nifty Index,34 IDFC Ultra Short Term,785 Kotak ESG Opp Fund,490 Mahindra Manulife Ultra ST,791
ICICI Pru Nifty Low Vol 30 ETF,35 IIFL Dynamic Bond,906 Kotak Floating Rate,984 Mahindra Mnlfe EqtSvgs Dhn Schy Yjn,601
ICICI Pru Nifty Next 50 ETF,36 IIFL Focused Equity,178 Kotak Focused Equity,183 Mahindra Mnlife Rrl Bhrt & Con Yjn,407
ICICI Pru Nifty Next 50 Index,37 IIFL Liquid Fund,819 Kotak Gilt Investment Fund,1000 Mahindra Mnulfe Hybrd Eqt Nivsh Yjn,526
ICICI Pru NV20 ETF,38 Indiabulls Arbitrage,621 Kotak Global Emrgng Market Fund,476 Mahindra Mnulife Largecap Prgti Yjn,70
ICICI Pru Overnight,874 Indiabulls Banking & PSU Debt,967 Kotak Gold,1028 Mirae Asset Arbtg Fund,629
ICICI Pru Passive Strategy (FOF),545 Indiabulls Bluechip,50 Kotak Gold ETF,1029 Mirae Asset Banking and Fin Srvcs Fund,340
ICICI Pru Pharma Hlthcr & Diagn,377 Indiabulls Dynamic Bond,907 Kotak India EQ Contra,279 Mirae Asset Banking And PSU Debt Fund,973
ICICI Pru Private Banks ETF,334 Indiabulls Equity Hybrid,519 Kotak Infra & Eco Reform,364 Mirae Asset Cash Management Fund,828
ICICI Pru Regular Gold Svngs (FOF),1023 Indiabulls Income,713 Kotak Liquid Fund,824 Mirae Asset Dynamic Bond,911
ICICI Pru Regular Savings,569 Indiabulls Liquid,820 Kotak Low Duration,762 Mirae Asset Emerging Bluechip,139
ICICI Pru Retirement Hybrid Cons,570 Indiabulls Nifty 50 ETF,51 Kotak Medium Term,714 Mirae Asset Equity Allocator FoF,71
ICICI Pru Retrmnt Hybrid Agrsv,516 Indiabulls Overnight,876 Kotak Money Market,854 Mirae Asset Equity Savings,602
ICICI Pru Retrmnt Pure Debt,711 Indiabulls Savings,852 Kotak Nifty ETF,58 Mirae Asset ESG Sector Leaders ETF,491
ICICI Pru Retrmnt Pure Eqt,172 Indiabulls Savings Income,576 Kotak NV 20 ETF,59 Mirae Asset ESG Sector Leaders Fund of F,492
ICICI Pru S&P BSE 500 ETF,173 Indiabulls ST Fund,736 Kotak Overnight,880 Mirae Asset Focused,190
ICICI Pru Savings,758 Indiabulls Tax Savings,303 Kotak Pioneer,405 Mirae Asset Great Consumer,438
ICICI Pru Sensex ETF,39 Indiabulls Ultra Short Term,786 Kotak PSU Bank ETF,338 Mirae Asset Healthcare,379
ICICI Pru Sensex Index,40 Indiabulls Value,276 Kotak Savings,788 Mirae Asset Hybrid Equity,527
ICICI Pru Short Term,732 Invesco (I) Feeder Global Eqt Incm,473 Kotak Sensex ETF,60 Mirae Asset Large Cap,72
ICICI Pru Small Cap,253 Invesco India - Invesco Global Consumer ,474 Kotak Small Cap,258 Mirae Asset Midcap,229
ICICI Pru Tech Fund,386 Invesco India Arbtg Fund,622 Kotak Standard Multicap,184 Mirae Asset Nifty 50 ETF,73
ICICI Pru Thematic Advtg (FOF),571 Invesco India Banking & PSU Debt,968 Kotak Tax Saver,307 Mirae Asset Nifty Next 50 ETF,74
ICICI Pru Ultra Short Term,783 Invesco India Contra Fund,277 L&T Arbitrage Opportunities,626 Mirae Asset Overnight,884
ICICI Pru US Bluechip Eqt,472 Invesco India Corporate Bond,932 L&T Balanced Advantage,653 Mirae Asset Savings,766
ICICI Pru Value Discovery Fund,273 Invesco India Credit Risk,950 L&T Banking & PSU Debt,971 Mirae Asset Short Term,741
ICICI Prudential Alpha Low Vol 30 ETF,41 Invesco India Dynamic Equity,650 L&T Business Cycles,406 Mirae Asset Tax Saver,311
ICICI Prudential ESG Fund,489 Invesco India Equity & Bond,520 L&T Conservative Hybrid,579 Mirae Asset Ultra SD Fund,792
ICICI Prudential India Eqt FOF,174 Invesco India Equity Savings,598 L&T Credit Risk,952 Motilal Oswal 5 Year G-Sec ETF,1004
ICICI Prudential IT ETF,387 Invesco India Feeder Pan Eur Eqt,475 L&T Emerging Businesses,259 Motilal Oswal Dynamic,654
ICICI Prudential Midcap 150 ETF,223 Invesco India Financial Services,336 L&T Eqt Fund,185 Motilal Oswal Equity Hybrid,528
ICICI Prudential Quant Fund,404 Invesco India Focused 20 Eqt Fund,179 L&T Equity Savings,600 Motilal Oswal Focused 25,75
IDBI Banking & Fin Services,335 Invesco India Gilt,999 L&T Flexi Bond Fund,910 Motilal Oswal Large and Midcap,140
IDBI Credit Risk,948 Invesco India Gold,1026 L&T Focused Equity,186 Motilal Oswal Liquid,829
IDBI Diversified Eqt,175 Invesco India Gold ETF,1027 L&T Gilt,1001 Motilal Oswal Long Term Eqt,312
IDBI Dividend Yield,420 Invesco India Growth Opp,134 L&T Hybrid Equity,523 Motilal Oswal M50 ETF,76

Mutual Fund Insight February 2021 75

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 SCOREBOARD INDEX For more on funds, visit www.valueresearchonline.com
Motilal Oswal Midcap 100 ETF,230
Motilal Oswal Midcap 30,231
Motilal Oswal Multi Asset Fund,674
Motilal Oswal Multicap 35,191
Motilal Oswal NASDAQ 100 ETF,477
Motilal Oswal Nasdaq 100 FOF,478
Motilal Oswal Nifty 50 Index,77
Motilal Oswal Nifty 500,192
Motilal Oswal Nifty Bank,341
Motilal Oswal Nifty Midcap 150,232
Motilal Oswal Nifty Next 50 Index Fund,78
Motilal Oswal Nifty Smallcap 250,260
Motilal Oswal S&P 500 Index Fund,479
Motilal Oswal Ultra Short Term,793
Nippon India Arbitrage,630
CPSE ETF,431
Nippon India Balanced Advantage,655
Nippon India Banking & PSU Debt,974
Nippon India Banking Fund,342
Nippon India Consumption,439
Nippon India Corporate Bond Fund,935
Nippon India Credit Risk,954
Nippon India Dynamic Bond Fund,912
Nippon India Eqt Svngs Fund,603
Nippon India Equity Hybrid,529
Nippon India ETF Bank BeES,343
Nippon India ETF Consumption,440
Nippon India ETF Dividend Opp,408
Nippon India ETF Gold BeES,1030
Nippon India ETF Hang Seng BeES,480
Nippon India ETF Infra BeES,367
Nippon India ETF Junior BeES,79
Nippon India ETF Liquid BeES,830
Nippon India ETF Long Term Gilt,1005
Nippon India ETF Nifty 100,80
Nippon India ETF Nifty BeES,81
Nippon India ETF Nifty CPSE Bond Plus SD,716
Nippon India ETF Nifty IT,388
Nippon India ETF Nifty Midcap 150,233
Nippon India ETF NV20,82
Nippon India ETF PSU Bank BeES,344
Nippon India ETF Sensex,83
Nippon India ETF Sensex Next 50,84
Nippon India ETF Shariah BeES,85
Nippon India Floating Rate,985
Nippon India Focused Equity,193
Nippon India Gilt Securities Fund,1006
Nippon India Gold Savings,1031
Nippon India Growth Fund,234
Nippon India Hybrid Bond,581
Nippon India Incm Fund,697
Nippon India Index Nifty,86
Nippon India Index Sensex,87
Nippon India Japan Equity,481
Nippon India Junior BeES FoF,88
Nippon India Large Cap,89
Nippon India Liquid,831
Nippon India Low Duration,767
Nippon India Money Market,856
Nippon India Multi Asset Fund,675
Nippon India Multi Cap,194
Nippon India Nifty Smallcap 250 Index Fu,261
Nippon India Nivesh Lakshya,686
Nippon India Overnight,885
Nippon India Pharma Fund,380
Nippon India Power & Infra,368
Nippon India Quant,409
Nippon India Retrmnt Incm Generation,582
Nippon India Retrmnt Wealth Creation,195
Nippon India Short-term Fund,742
Nippon India Small Cap,262
Nippon India Strategic Debt,717
Nippon India Tax Saver (ELSS),313
Nippon India Ultra Short Duration,794
Nippon India US Eqt Opportunities,482
Nippon India Value,281
Nippon India Vision Fund,141
Parag Parikh Liquid,832
Parag Parikh Long Term Equity,196
Parag Parikh Tax Saver,314
PGIM India Arbitrage,631
PGIM India Banking & PSU Debt,975
PGIM India Credit Risk,955
PGIM India Diversified Eqt,197
PGIM India Dynamic Bond,913
PGIM India Emrgng Markets Eqt Fund,483
PGIM India Equity Savings,604
76 Mutual Fund Insight February 2021
Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
PGIM India Gilt Fund,1007
PGIM India Global Eqt Opp,484
PGIM India Hybrid Eqt,530
PGIM India Insta Cash,833
PGIM India Large Cap,90
PGIM India Long Term Eqt,315
PGIM India Low Duration,768
PGIM India Midcap Opp Fund,235
PGIM India Money Market Fund,857
PGIM India Overnight,886
PGIM India Premier Bond,936
PGIM India Short Maturity,743
PGIM India Ultra ST,795
Principal Arbitrage,632
Principal Balanced Advantage,656
Principal Cash Mgmt Fund,834
Principal Dividend Yld Fund,421
Principal Emrgng Bluechip Fund,142
Principal Equity Savings,605
Principal Focused Multicap,198
Principal Global Opp Fund,485
Principal Hybrid Equity,531
Principal Large Cap Fund,91
Principal Low Duration,769
Principal Midcap Fund,236
Principal Multi Cap Growth,199
Principal Nifty 100 Equal Weight,92
Principal Short Term Debt,744
Principal Small Cap,263
Principal Tax Svngs Fund,316
Principal Ultra Short Term,796
Quant Absolute,532
Quant Active,200
Quant Consumption,441
Quant Dynamic Bond,914
Quant ESG Eqt Fund,493
Quant Focused,93
Quant Infrastructure,369
Quant Large & Midcap,143
Quant Liquid Plan,835
Quant Midcap,237
Quant Money Market,858
Quant Multi Asset,676
Quant Small Cap,264
Quant Tax,317
Quantum Dynamic Bond,915
Quantum Equity FoF,201
Quantum Gold Fund,1032
Quantum Gold Savings,1033
Quantum India ESG Eqt,494
Quantum Liquid Fund,836
Quantum Long Term Eqt Value,282
Quantum Multi Asset FOFs,677
Quantum Nifty ETF,94
Quantum Tax Saving Fund,318
SBI Arbtg Opp Fund,633
SBI Banking & Fin Services,345
SBI Banking and PSU,976
SBI Bluechip Fund,95
SBI Consumption Opportunities,442
SBI Contra Fund,283
SBI Corporate Bond,937
SBI Credit Risk,956
SBI Debt Hybrid,583
SBI Dynamic Asset Allocation,657
SBI Dynamic Bond,916
SBI Equity Hybrid,533
SBI Equity Minimum Variance,410
SBI Equity Savings,606
SBI ETF 10 Year Gilt,1014
SBI ETF BSE 100,96
SBI ETF Gold,1034
SBI ETF IT,389
SBI ETF Nifty 50,97
SBI ETF Nifty Bank,346
SBI ETF Nifty Next 50,98
SBI ETF Private Bank,347
SBI ETF Quality,99
SBI ETF Sensex,100
SBI ETF Sensex Next 50,101
SBI Floating Rate Debt Fund,986
SBI Focused Equity,202
SBI Gold,1035
SBI Healthcare Opportunities,381
SBI Infrastructure,370
SBI Large & Midcap,144
SBI Liquid,837
SBI Long Term Equity,319 Tata Retrmnt Svngs Progressive,208
SBI Magnum Children’s Benefit Fund - Inv,534 Tata Short-term Bond Fund,747
SBI Magnum COMMA Fund,411 Tata Small Cap,267
SBI Magnum Constant Maturity,1015 Tata Treasury Advantage,772
SBI Magnum Equity ESG,495 Tata Ultra Short Term,799
SBI Magnum Gilt,1008 Tata Young Citizens Fund,547
SBI Magnum Global Fund,426 Taurus Banking & Financial Srvcs,351
SBI Magnum Incm Fund,698 Taurus Discovery (Midcap),241
SBI Magnum Low Duration,770 Taurus Ethical Fund,415
SBI Magnum Medium Duration,718 Taurus Infra Fund,373
SBI Magnum Midcap Fund,238 Taurus Largecap Equity,110
SBI Magnum MultiCap Fund,203 Taurus Nifty Index,111
SBI Magnum Ultra Short Duration,797 Taurus Starshare (Multi Cap),209
SBI Mgnm Chldrn’s Bnfit - Svngs Pln,584 Taurus Tax Shield Fund,323
SBI Multi Asset Allocation,678 Union Arbitrage,636
SBI Nifty Index Fund,102 Union Balanced Advantage,661
SBI Overnight,887 Union Corporate Bond,939
SBI PSU,433 Union Dynamic Bond,918
SBI Savings,859 Union Equity Savings,609
SBI Short Term Debt,745 Union Focused,210
SBI Small Cap,265 Union Hybrid Eqt Fund,539
SBI Technology Opportunities,390 Union Large & Midcap,147
Shriram Balanced Advantage,658 Union Large Cap,112
Shriram Hybrid Equity,535 Union Liquid,840
Shriram Long Term Equity,320 Union Long Term Equity,324
Shriram Multicap,204 Union Medium Duration Fund,721
Sundaram Arbtg,634 Union Midcap Fund,242
Sundaram Balanced Advtg,659 Union Multi Cap,211
Sundaram Banking & PSU Debt,977 Union Overnight,890
Sundaram Bluechip Fund,103 Union Small Cap,268
Sundaram Corporate Bond,938 Union Value Discovery,286
Sundaram Debt Oriented Hybrid,585 UTI Arbitrage,637
Sundaram Diversified Equity,321 UTI Bank ETF,352
Sundaram Equity,205 UTI Banking & Fin Services,353
Sundaram Equity Hybrid,536 UTI Banking & PSU Debt Fund,979
Sundaram Equity Savings,607 UTI Bond Fund,700
Sundaram Fin Srvcs Opp Fund,348 UTI Children’s Career Investment,212
Sundaram Global Brand Fund,486 UTI Children’s Career Svngs,548
Sundaram Infrastructure Adv,371 UTI Core Equity,148
Sundaram Large & Midcap,145 UTI Corporate Bond,940
Sundaram Low Duration,771 UTI Credit Risk,957
Sundaram Medium Term Bond,719 UTI Dividend Yld Fund,423
Sundaram Midcap,239 UTI Dynamic Bond,919
Sundaram Money Fund,838 UTI Eqt Fund,213
Sundaram Money Market,860 UTI Equity Savings,610
Sundaram Overnight,888 UTI Floater,987
Sundaram Rural & Consumption,443 UTI Gilt,1010
Sundaram Select Focus Fund,104 UTI Gold ETF,1036
Sundaram Services,412 UTI Healthcare,383
Sundaram Short Term Debt,746 UTI Hybrid Equity,540
Sundaram Small Cap,266 UTI India Consumer Fund,445
Sundaram Smart NIFTY 100 Equal Wght,105 UTI Infra Fund,374
Sundaram Ultra Short Term,798 UTI Liquid Cash Fund,841
Tata Arbitrage,635 UTI Long Term Equity,325
Tata Balanced Advantage,660 UTI Mastershare Fund,113
Tata Banking & Fin Services,349 UTI Medium Term,722
Tata Banking & PSU Debt,978 UTI Mid Cap Fund,243
Tata Digital India,391 UTI MNC Fund,427
Tata Dynamic Bond Fund,917 UTI Money Market,862
Tata Eqt PE Fund,284 UTI Multi Asset,680
Tata Equity Savings,608 UTI Nifty ETF,114
Tata Ethical Fund,413 UTI Nifty Index Fund,115
Tata Focused Eqt,206 UTI Nifty Next 50 ETF,116
Tata GSF,1009 UTI Nifty Next 50 Index,117
Tata Hybrid Equity,537 UTI Overnight,891
Tata Income,699 UTI Regular Savings,587
Tata Index Nifty Fund,106 UTI Retrmnt Benefit Pension Fund,549
Tata Index Sensex Fund,107 UTI S&P BSE Sensex Next 50 ETF,118
Tata India Consumer,444 UTI Sensex ETF,119
Tata India Pharma & HealthCare,382 UTI Short-term Incm Fund,748
Tata India Tax Savings,322 UTI Small Cap Fund,269
Tata Infra Fund,372 UTI Transp and Log Fund,416
Tata Large & Midcap,146 UTI Treasury Advtg Fund,773
Tata Large Cap,108 UTI Ultra Short Term,800
Tata Liquid,839 UTI Unit Linked Insurance Plan Fund,662
Tata Medium Term,720 UTI Value Opportunities,287
Tata Midcap Growth Fund,240 YES Liquid,842
Tata Money Market,861 YES Overnight,892
Tata Multi Asset Opp Fund,679 YES Ultra Short Term,801
Tata Multicap,207
Tata Nifty ETF,109
Tata Nifty Private Bank ETF,350
Tata Overnight,889
Tata Quant Fund,414
Tata Resources & Energy,429
Tata Retrmnt Savings Cons,586
Tata Retrmnt Svngs Moderate,538
 SCOREBOARD

Performance snapshot
Here are the performance data of the Indian mutual fund industry as of December 2020
REGULAR DIRECT
Category/benchmark 1 mth 3 mths 1 yr 3 yrs 5 yrs 10 yrs 20 yrs 1 mth 3 mths 1 yr 3 yrs 5 yrs
Equity: Large Cap 7.82 23.42 15.46 9.05 12.16 9.54 14.60 7.71 23.62 15.19 9.05 12.44
Equity: Large & MidCap 6.50 20.68 16.32 4.77 11.27 11.40 16.50 6.64 21.02 17.41 6.05 12.37
Equity: Multi Cap 7.17 21.66 15.50 6.29 11.14 10.51 16.53 7.28 22.00 16.83 7.37 12.20
Equity: Mid Cap 5.74 19.57 24.30 3.67 10.83 13.61 18.55 5.87 19.65 25.78 4.99 12.08
Equity: Small Cap 7.00 19.60 30.41 0.11 10.13 12.68 — 7.13 20.00 32.05 1.23 11.27
Equity: Value Oriented 6.86 22.37 16.43 2.65 9.75 10.82 18.34 6.95 22.66 17.49 3.65 10.86
Equity: ELSS 7.19 21.63 16.16 5.43 11.17 10.88 15.75 7.30 21.96 17.46 6.53 12.30
Equity: International 3.40 13.85 20.46 11.94 11.77 6.12 — 3.56 14.08 20.77 12.22 12.12
S&P BSE Sensex TRI 8.18 25.70 17.16 13.22 14.25 10.34 15.02 8.18 25.70 17.16 13.22 14.25
S&P BSE SENSEX Next 50 TRI 8.25 23.76 18.61 1.33 9.94 9.73 — 8.25 23.76 18.61 1.33 9.94
S&P BSE 500 TRI 7.70 23.52 18.41 8.19 12.87 10.17 15.20 7.70 23.52 18.41 8.19 12.87
S&P BSE Large Cap TRI 8.14 24.10 16.31 10.57 13.25 9.91 — 8.14 24.10 16.31 10.57 13.25
S&P BSE Mid Cap TRI 6.09 22.28 21.31 1.29 11.21 10.09 — 6.09 22.28 21.31 1.29 11.21
S&P BSE Small Cap TRI 7.27 21.86 33.53 -1.05 9.84 7.70 — 7.27 21.86 33.53 -1.05 9.84
Equity: Sectoral-Banking 5.94 40.92 -4.62 2.26 10.39 5.57 — 5.57 38.24 -0.01 6.26 14.26
S&P BSE Bankex TRI 5.92 47.36 -2.12 7.77 13.68 11.33 — 5.92 47.36 -2.12 7.77 13.68
Equity: Sectoral-Infrastructure 8.33 23.88 9.25 -3.34 6.49 5.57 — 8.50 24.40 10.05 -2.68 7.46
S&P BSE India Infrastructure TRI 12.59 32.86 8.31 -7.53 4.42 3.98 — 12.59 32.86 8.31 -7.53 4.42
Equity: Sectoral-Pharma 6.64 9.95 66.47 17.43 8.37 14.77 16.42 6.76 10.31 68.81 18.79 9.64
S&P BSE Healthcare TRI 6.71 9.57 62.61 14.31 5.77 13.15 15.34 6.71 9.57 62.61 14.31 5.77
Equity: Sectoral-Technology 11.61 21.41 57.73 26.26 18.12 14.98 13.78 11.85 21.40 59.35 27.60 19.30
S&P BSE IT TRI 12.08 22.14 60.05 31.48 19.33 15.68 13.16 12.08 22.14 60.05 31.48 19.33
Hybrid: Aggressive Hybrid 5.95 17.65 14.38 6.00 9.96 10.03 13.88 6.07 17.99 15.73 7.15 11.07
Hybrid: Balanced Hybrid 4.62 15.74 11.44 5.75 8.59 8.70 10.87 4.70 15.98 12.33 6.54 9.39
Hybrid: Conservative Hybrid 2.38 7.50 9.26 5.65 7.58 8.14 8.79 2.47 7.77 10.29 6.60 8.53
VR Balanced TRI 6.69 20.68 14.79 10.66 12.35 9.53 — 6.69 20.68 14.79 10.66 12.35
VR MIP TRI 2.99 9.00 10.41 8.65 9.19 8.33 — 2.99 9.00 10.41 8.65 9.19
Debt: Long Duration 0.37 3.35 12.53 9.93 9.88 8.87 8.79 0.50 3.40 12.69 10.56 10.64
Debt: Medium Duration 0.38 2.74 7.20 6.37 7.23 7.80 7.27 0.47 2.90 7.76 7.13 8.02
Debt: Short Duration 0.29 2.12 8.97 6.63 7.04 8.04 7.74 0.36 2.30 9.73 7.37 7.79
Debt: Ultra Short Duration 0.26 0.97 5.14 5.88 6.42 7.90 7.19 0.30 1.09 5.66 6.36 6.91
Debt: Liquid 0.24 0.76 3.96 5.80 6.29 7.62 7.06 0.25 0.80 4.16 5.96 6.43
Debt: Dynamic Bond 0.51 2.65 9.71 7.68 7.94 8.62 7.73 0.57 2.81 10.41 8.44 8.68
Debt: Corporate Bond 0.32 2.38 9.93 7.94 7.88 8.31 7.52 0.36 2.50 10.42 8.42 8.38
Debt: Credit Risk 0.54 2.45 0.25 1.34 3.82 7.63 — 0.61 2.66 1.09 2.19 4.71
CCIL All Sovereign Bond - TRI 0.77 3.48 13.01 11.00 10.10 9.32 — 0.77 3.48 13.01 11.00 10.10
CCIL T Bill Liquidity Weight 0.14 0.59 3.13 3.84 4.06 4.72 — 0.14 0.59 3.13 3.84 4.06
VR Bond 0.48 1.90 7.47 7.30 7.22 7.55 — 0.48 1.90 7.47 7.30 7.22
Returns (%) as on December 31, 2020

Mutual Fund Insight February 2021 77

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 SCOREBOARD

SIP returns
Worth of the monthly SIP of `10,000 across various time periods
REGULAR DIRECT
3-year 5-year 10-year 3-year 5-year
Return Value Return Value Return Value Return Value Return Value
Rating (%) (` lakh) (%) (` lakh) (%) (` lakh) Rating (%) (` lakh) (%) (` lakh)
Quant Tax Equity: ELSS  27.63 5.36 19.88 9.84 17.45 30.02  29.40 5.49 21.11 10.14
Quant Active Equity: Multi Cap  26.50 5.28 19.79 9.82 17.83 30.64  27.37 5.34 20.41 9.97
Parag Parikh Long Term Equity Equity: Multi Cap  23.16 5.04 18.64 9.55 - -  24.15 5.11 19.51 9.75
UTI Eqt Fund Equity: Multi Cap  24.40 5.13 18.57 9.53 15.93 27.66  25.08 5.18 19.19 9.68
IIFL Focused Equity Equity: Multi Cap  24.14 5.11 18.39 9.49 - -  25.82 5.23 19.98 9.87
Axis Midcap Equity: Mid Cap  21.25 4.91 18.00 9.40 - -  22.79 5.02 19.44 9.74
Mirae Asset Tax Saver Equity: ELSS  20.36 4.85 17.99 9.40 - -  22.11 4.97 19.69 9.80
Nippon India ETF NV20 Equity: Large Cap Not rated 20.36 4.85 17.90 9.38 - - Not rated - - - -
SBI Small Cap Equity: Small Cap  21.11 4.90 17.81 9.36 22.41 39.25  22.41 4.99 19.14 9.67
Axis Bluechip Equity: Large Cap  20.55 4.87 17.80 9.36 15.52 27.06  21.97 4.96 19.24 9.69
Mirae Asset Emerging Bluechip Equity: Large & MidCap  20.83 4.88 17.74 9.34 21.85 38.08  21.97 4.96 18.79 9.59
Kotak NV 20 ETF Equity: Large Cap Not rated 19.75 4.81 17.51 9.29 - - Not rated - - - -
Axis Focused 25 Equity: Multi Cap  20.15 4.84 17.51 9.29 - -  21.57 4.93 18.93 9.62
PGIM India Diversified Eqt Equity: Multi Cap  24.11 5.11 17.24 9.23 - -  26.30 5.27 19.26 9.70
BOI AXA Tax Advtg Fund Equity: ELSS  21.85 4.95 17.12 9.20 15.14 26.51  23.10 5.04 18.46 9.51
Canara Robeco Eqt Tax Saver Fund Equity: ELSS  21.31 4.92 17.03 9.18 14.81 26.04  22.42 4.99 18.06 9.42
PGIM India Midcap Opp Fund Equity: Mid Cap  26.35 5.27 16.95 9.16 - -  28.28 5.41 18.68 9.56
Canara Robeco Bluechip Eqt Equity: Large Cap  20.86 4.89 16.88 9.15 14.28 25.31  22.44 4.99 18.32 9.48
Nippon India ETF Shariah BeES Equity: Large Cap Not rated 22.33 4.99 16.83 9.14 13.55 24.35 Not rated - - - -
Axis Small Cap Fund Equity: Small Cap  21.58 4.94 16.74 9.12 - -  23.32 5.06 18.28 9.47
Quant Absolute Hybrid: Aggressive Hybrid Not rated 23.32 5.06 16.67 9.10 14.73 25.93 Not rated 24.51 5.14 17.57 9.30
Axis LT Eqt Fund Equity: ELSS  19.97 4.83 16.63 9.09 17.95 30.84  20.94 4.89 17.68 9.33
Quant Midcap Equity: Mid Cap Not rated 23.29 5.05 16.28 9.01 12.77 23.35 Not rated 24.81 5.16 17.35 9.25
LIC MF ETF - Sensex Equity: Large Cap Not rated 19.00 4.76 16.22 9.00 - - Not rated - - - -
UTI Sensex ETF Equity: Large Cap Not rated 18.98 4.76 16.21 9.00 - - Not rated - - - -
Quant Small Cap Equity: Small Cap Not rated 29.09 5.47 16.20 9.00 10.83 21.06 Not rated 29.64 5.51 16.60 9.08
HDFC Sensex ETF Equity: Large Cap Not rated 18.93 4.76 16.18 8.99 - - Not rated - - - -
SBI ETF Sensex Equity: Large Cap Not rated 18.96 4.76 16.18 8.99 - - Not rated - - - -
Nippon India ETF Sensex Equity: Large Cap Not rated 18.92 4.76 16.14 8.98 - - Not rated - - - -
ICICI Pru Sensex ETF Equity: Large Cap Not rated 18.93 4.76 16.10 8.97 13.38 24.12 Not rated - - - -
Kotak Sensex ETF Equity: Large Cap Not rated 18.72 4.74 15.94 8.94 13.22 23.92 Not rated - - - -
Canara Robeco Eqt Diversified Fund Equity: Multi Cap  18.74 4.74 15.81 8.91 13.84 24.73  20.02 4.83 16.91 9.15
HDFC Index Sensex Fund Equity: Large Cap  18.34 4.72 15.62 8.87 12.96 23.59  18.58 4.73 15.84 8.92
Tata Index Sensex Fund Equity: Large Cap  17.87 4.69 15.23 8.78 12.35 22.83  18.70 4.74 15.89 8.93
Nippon India Index Sensex Equity: Large Cap  18.12 4.70 15.21 8.78 12.30 22.78  18.70 4.74 15.86 8.92
JM Tax Gain Fund Equity: ELSS  18.40 4.72 15.14 8.77 14.90 26.17  19.23 4.78 16.11 8.98
Canara Robeco Emrgng Equities Fund Equity: Large & MidCap  18.05 4.70 15.14 8.77 19.63 33.77  19.32 4.78 16.48 9.06
DSP Eqt Fund Equity: Multi Cap  18.43 4.72 14.94 8.72 14.20 25.21  19.46 4.79 15.90 8.93
LIC MF Index Sensex Fund Equity: Large Cap  17.90 4.69 14.91 8.72 12.00 22.41  18.38 4.72 15.42 8.82
Kotak Small Cap Equity: Small Cap  21.77 4.95 14.84 8.70 16.40 28.37  23.29 5.05 16.34 9.03
Edelweiss ETF-Nifty 50 Equity: Large Cap Not rated 17.29 4.65 14.83 8.70 - - Not rated - - - -
LIC MF ETF - Nifty 50 Equity: Large Cap Not rated 17.49 4.66 14.76 8.68 - - Not rated - - - -
UTI Nifty ETF Equity: Large Cap Not rated 17.38 4.65 14.73 8.68 - - Not rated - - - -
SBI ETF Nifty 50 Equity: Large Cap Not rated 17.39 4.65 14.73 8.68 - - Not rated - - - -
Nippon India ETF Nifty BeES Equity: Large Cap Not rated 17.43 4.66 14.72 8.67 12.72 23.29 Not rated - - - -
HDFC Nifty 50 ETF Equity: Large Cap Not rated 17.38 4.65 14.71 8.67 - - Not rated - - - -

Data as of December 2020

78 Mutual Fund Insight February 2021

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
 REGULAR DIRECT
3-year 5-year 10-year 3-year 5-year
Return Value Return Value Return Value Return Value Return Value
Rating (%) (` lakh) (%) (` lakh) (%) (` lakh) Rating (%) (` lakh) (%) (` lakh)
ICICI Pru Nifty ETF Equity: Large Cap Not rated 17.39 4.65 14.70 8.67 - - Not rated - - - -
Invesco India Nifty ETF Equity: Large Cap Not rated 17.34 4.65 14.67 8.66 - - Not rated - - - -
ABSL Nifty ETF Equity: Large Cap Not rated 17.32 4.65 14.61 8.65 - - Not rated - - - -
Quantum Nifty ETF Equity: Large Cap Not rated 17.31 4.65 14.61 8.65 12.66 23.21 Not rated - - - -
Invesco India Contra Fund Equity: Value Oriented  16.33 4.58 14.59 8.65 16.07 27.88  17.61 4.67 16.04 8.96
SBI Focused Equity Equity: Multi Cap  16.10 4.57 14.57 8.64 15.82 27.49  17.23 4.64 15.69 8.88
IDFC Nifty Equity: Large Cap  17.35 4.65 14.56 8.64 12.57 23.10  17.55 4.66 14.73 8.68
Kotak Nifty ETF Equity: Large Cap Not rated 17.29 4.65 14.56 8.64 12.44 22.95 Not rated - - - -
UTI Nifty Index Fund Equity: Large Cap  17.18 4.64 14.46 8.62 12.37 22.86  17.25 4.64 14.54 8.64
Principal Focused Multicap Equity: Multi Cap  18.10 4.70 14.43 8.61 13.35 24.08  18.95 4.76 15.26 8.79
Motilal Oswal Focused 25 Equity: Large Cap  18.03 4.70 14.34 8.59 - -  19.42 4.79 15.76 8.90
HDFC Index Nifty 50 Equity: Large Cap  16.89 4.62 14.24 8.57 12.30 22.77  17.10 4.63 14.44 8.62
Motilal Oswal M50 ETF Equity: Large Cap Not rated 17.13 4.64 14.17 8.56 11.85 22.23 Not rated - - - -
Invesco India Mid Cap Fund Equity: Mid Cap  17.48 4.66 14.16 8.56 16.81 29.01  19.12 4.77 15.90 8.93
SBI ETF BSE 100 Equity: Large Cap Not rated 16.76 4.61 14.13 8.55 - - Not rated - - - -
DSP Midcap Equity: Mid Cap  17.66 4.67 14.07 8.54 16.88 29.10  18.67 4.74 15.06 8.75
Mirae Asset Large Cap Equity: Large Cap  15.73 4.55 14.05 8.53 15.54 27.09  16.91 4.62 15.14 8.77
Invesco India Tax Plan Fund Equity: ELSS  16.54 4.60 14.02 8.53 15.15 26.52  17.92 4.69 15.55 8.85
Taurus Nifty Index Equity: Large Cap Not rated 16.95 4.62 14.02 8.53 11.70 22.05 Not rated 17.20 4.64 14.52 8.63
Tata Index Nifty Fund Equity: Large Cap  16.61 4.60 13.93 8.51 11.80 22.18  17.16 4.64 14.44 8.62
ICICI Pru Nifty Index Equity: Large Cap  16.76 4.61 13.91 8.50 12.02 22.43  17.20 4.64 14.35 8.60
Kotak India EQ Contra Equity: Value Oriented  15.50 4.53 13.88 8.50 13.32 24.04  16.97 4.63 15.46 8.83
Edelweiss Large Cap Equity: Large Cap  16.52 4.60 13.88 8.50 13.32 24.05  18.13 4.70 15.25 8.79
Principal Emrgng Bluechip Fund Equity: Large & MidCap  16.70 4.61 13.85 8.49 17.91 30.77  17.91 4.69 15.09 8.75
BNP Paribas Large Cap Equity: Large Cap  17.58 4.67 13.85 8.49 13.79 24.66  18.87 4.75 15.19 8.77
ICICI Pru Nifty 100 ETF Equity: Large Cap Not rated 16.37 4.59 13.81 8.48 - - Not rated - - - -
Canara Robeco Eqt Hybrid Hybrid: Aggressive Hybrid  16.66 4.61 13.80 8.48 13.82 24.70  17.97 4.69 15.13 8.76
SBI Nifty Index Fund Equity: Large Cap  16.44 4.59 13.79 8.48 11.69 22.04  16.90 4.62 14.25 8.58
UTI Mastershare Fund Equity: Large Cap  17.26 4.65 13.73 8.47 12.72 23.29  18.17 4.71 14.63 8.66
Nippon India Small Cap Equity: Small Cap  16.69 4.61 13.69 8.46 19.55 33.63  17.64 4.67 14.79 8.69
Aditya Birla Sun Life Index Fund Equity: Large Cap  16.57 4.60 13.68 8.45 11.62 21.96  16.79 4.61 13.90 8.50
Union Multi Cap Equity: Multi Cap  18.00 4.69 13.60 8.44 - -  18.77 4.75 14.33 8.59
Kotak Emerging Equity Equity: Mid Cap  17.48 4.66 13.57 8.43 17.37 29.88  18.85 4.75 14.96 8.73
Quant Large & Midcap Equity: Large & MidCap Not rated 18.22 4.71 13.57 8.43 15.90 27.62 Not rated 18.48 4.73 13.81 8.48
Tata Midcap Growth Fund Equity: Mid Cap  17.73 4.68 13.54 8.43 16.38 28.34  19.13 4.77 14.78 8.69
HSBC Large Cap Eqt Equity: Large Cap  16.60 4.60 13.47 8.41 12.05 22.47  17.59 4.67 14.40 8.61
LIC MF Index Nifty Fund Equity: Large Cap  16.37 4.59 13.46 8.41 11.45 21.76  16.89 4.62 13.99 8.52
Nippon India Index Nifty Equity: Large Cap  16.15 4.57 13.46 8.41 11.64 21.99  17.13 4.64 14.35 8.60
UTI Long Term Equity Equity: ELSS  17.77 4.68 13.46 8.41 12.66 23.21  18.75 4.74 14.43 8.61
Kotak Bluechip Equity: Large Cap  17.28 4.65 13.44 8.40 12.85 23.45  18.52 4.73 14.74 8.68
Franklin India Index NSE Nifty Fund Equity: Large Cap  16.21 4.58 13.43 8.40 11.57 21.90  16.71 4.61 13.93 8.51
Kotak Equity Opportunities Equity: Large & MidCap  16.40 4.59 13.41 8.40 14.26 25.29  17.62 4.67 14.70 8.67
Edelweiss Midcap Equity: Mid Cap  17.02 4.63 13.33 8.38 17.07 29.41  18.69 4.74 14.79 8.69
Sundaram Select Focus Fund Equity: Large Cap  14.75 4.48 13.32 8.38 11.77 22.14  15.77 4.55 14.42 8.61
LIC MF Large & Midcap Equity: Large & MidCap  15.31 4.52 13.31 8.38 - -  16.91 4.62 14.97 8.73
IDBI Nifty Index Equity: Large Cap  16.28 4.58 13.28 8.37 11.23 21.51  17.20 4.64 14.34 8.59
DSP Tax Saver Fund Equity: ELSS  16.34 4.58 13.26 8.37 14.97 26.27  17.39 4.65 14.37 8.60
UTI Value Opportunities Equity: Value Oriented  17.09 4.63 13.24 8.36 11.80 22.17  17.81 4.68 13.99 8.52
Taurus Discovery (Midcap) Equity: Mid Cap  15.89 4.56 13.23 8.36 15.60 27.18  16.34 4.59 13.70 8.46
Nippon India Growth Fund Equity: Mid Cap  17.08 4.63 13.21 8.36 13.84 24.72  17.80 4.68 13.96 8.51
UTI Children’s Career Investment Equity: Multi Cap  16.33 4.58 13.16 8.35 12.71 23.28  17.31 4.65 14.13 8.55
Data as of December 2020

Mutual Fund Insight February 2021 79

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
 SCOREBOARD
REGULAR DIRECT
3-year 5-year 10-year 3-year 5-year
Return Value Return Value Return Value Return Value Return Value
Rating (%) (` lakh) (%) (` lakh) (%) (` lakh) Rating (%) (` lakh) (%) (` lakh)
Tata Retrmnt Svngs Progressive Equity: Multi Cap  14.18 4.45 13.14 8.34 - -  15.92 4.56 14.84 8.70
Edelweiss Large & Midcap Equity: Large & MidCap  15.63 4.54 13.14 8.34 12.99 23.62  17.28 4.65 14.60 8.65
JM Multicap Equity: Multi Cap  15.34 4.52 13.14 8.34 13.75 24.61  16.19 4.58 14.11 8.55
LIC MF Large Cap Equity: Large Cap  16.73 4.61 13.14 8.34 11.94 22.34  17.85 4.68 14.29 8.58
Invesco India Growth Opp Equity: Large & MidCap  14.26 4.45 13.12 8.34 13.89 24.80  15.57 4.53 14.61 8.65
Nippon India ETF Nifty 100 Equity: Large Cap Not rated 15.60 4.54 13.09 8.33 - - Not rated - - - -
UTI Mid Cap Fund Equity: Mid Cap  19.24 4.78 13.08 8.33 16.59 28.65  20.18 4.84 14.03 8.53
Kotak Tax Saver Equity: ELSS  15.85 4.55 12.97 8.31 13.42 24.17  17.19 4.64 14.34 8.59
Union Long Term Equity Equity: ELSS  17.87 4.69 12.97 8.31 - -  18.37 4.72 13.57 8.43
BNP Paribas Long Term Equity Equity: ELSS  16.68 4.61 12.84 8.28 13.80 24.67  18.00 4.69 14.10 8.54
DSP Equity & Bond Hybrid: Aggressive Hybrid  16.02 4.56 12.81 8.27 13.01 23.65  17.12 4.64 13.94 8.51
Tata Large & Midcap Equity: Large & MidCap  16.41 4.59 12.80 8.27 13.50 24.28  16.82 4.62 13.68 8.45
ABSL Eqt Fund Equity: Multi Cap  15.72 4.55 12.80 8.27 14.95 26.24  16.71 4.61 13.87 8.49
IDFC Large Cap Equity: Large Cap  15.44 4.53 12.77 8.27 11.23 21.51  16.54 4.60 13.90 8.50
Mirae Asset Hybrid Equity Hybrid: Aggressive Hybrid  14.60 4.47 12.74 8.26 - -  16.31 4.58 14.55 8.64
ICICI Pru Bluechip Equity: Large Cap  14.73 4.48 12.58 8.23 12.98 23.61  15.46 4.53 13.42 8.40
ABSL Focused Eqt Equity: Large Cap  15.96 4.56 12.53 8.22 13.42 24.17  16.96 4.63 13.61 8.44
Kotak Standard Multicap Equity: Multi Cap  14.15 4.44 12.51 8.21 14.86 26.12  15.20 4.51 13.64 8.45
Quant Focused Equity: Large Cap Not rated 16.12 4.57 12.50 8.21 15.57 27.14 Not rated 17.60 4.67 13.57 8.43
SBI Bluechip Fund Equity: Large Cap  16.26 4.58 12.49 8.21 13.93 24.84  17.11 4.64 13.44 8.41
Edelweiss Multi Cap Equity: Multi Cap  13.59 4.41 12.42 8.20 - -  15.45 4.53 14.02 8.53
SBI Equity Hybrid Hybrid: Aggressive Hybrid  14.48 4.46 12.40 8.19 13.76 24.62  15.23 4.51 13.28 8.37
HDFC Children’s Gift Hybrid: Aggressive Hybrid  14.55 4.47 12.36 8.18 13.59 24.39  15.49 4.53 13.35 8.39
Baroda Midcap Equity: Mid Cap  17.05 4.63 12.33 8.18 7.39 17.56  17.94 4.69 13.25 8.37
DSP Equity Opp Equity: Large & MidCap  14.74 4.48 12.24 8.16 13.91 24.81  15.77 4.55 13.33 8.38
Tata India Tax Savings Equity: ELSS  14.16 4.44 12.20 8.15 14.41 25.49  15.74 4.55 13.71 8.46
PGIM India Long Term Eqt Equity: ELSS  15.07 4.50 12.10 8.13 - -  16.63 4.60 13.75 8.47
Tata Retrmnt Svngs Moderate Hybrid: Aggressive Hybrid  13.34 4.39 12.08 8.13 - -  14.95 4.49 13.61 8.44
SBI Magnum MultiCap Fund Equity: Multi Cap  14.33 4.45 12.01 8.11 14.47 25.57  15.34 4.52 13.10 8.34
SBI Contra Fund Equity: Value Oriented  18.05 4.70 12.00 8.11 11.23 21.51  18.69 4.74 12.66 8.24
LIC MF Tax Plan Fund Equity: ELSS  13.66 4.41 11.98 8.11 12.28 22.75  14.91 4.49 13.25 8.37
SBI Large & Midcap Equity: Large & MidCap  14.66 4.48 11.97 8.11 13.90 24.81  15.39 4.52 12.71 8.25
Taurus Tax Shield Fund Equity: ELSS  12.79 4.36 11.97 8.10 11.92 22.32  13.57 4.41 12.73 8.26
Baroda Large Cap Equity: Large Cap  15.64 4.54 11.95 8.10 10.33 20.51  16.42 4.59 12.76 8.27
Kotak Equity Hybrid Hybrid: Aggressive Hybrid  15.75 4.55 11.92 8.09 11.32 21.61  17.13 4.64 13.34 8.38
Principal Tax Svngs Fund Equity: ELSS  13.98 4.43 11.91 8.09 14.00 24.94  14.55 4.47 12.50 8.21
Nippon India Value Equity: Value Oriented  14.48 4.46 11.86 8.08 12.91 23.53  15.17 4.51 12.61 8.23
L&T India Large Cap Fund Equity: Large Cap  14.67 4.48 11.81 8.07 11.72 22.08  15.61 4.54 12.72 8.26
PGIM India Large Cap Equity: Large Cap  14.97 4.50 11.81 8.07 11.93 22.33  16.48 4.59 13.38 8.39
ICICI Pru LT Eqt (Tax Saving) Equity: ELSS  14.71 4.48 11.80 8.07 13.26 23.96  15.52 4.53 12.76 8.26
JM Value Equity: Value Oriented Not rated 13.98 4.43 11.79 8.07 13.34 24.07 Not rated 14.67 4.48 12.61 8.23
ICICI Pru Small Cap Equity: Small Cap  17.68 4.67 11.75 8.06 12.21 22.66  19.12 4.77 12.90 8.29
IDBI India Top 100 Eqt Equity: Large Cap  16.13 4.57 11.72 8.05 - -  17.53 4.66 13.24 8.36
IDFC Tax Advtg (ELSS) Fund Equity: ELSS  13.70 4.42 11.65 8.04 13.71 24.55  14.88 4.49 12.91 8.29
Invesco India Large Cap Equity: Large Cap  13.78 4.42 11.60 8.03 12.13 22.57  15.24 4.51 13.23 8.36
DSP Focus Equity: Multi Cap  14.86 4.49 11.56 8.02 12.25 22.71  16.00 4.56 12.60 8.23
ABSL Tax Relief 96 Fund Equity: ELSS  12.70 4.35 11.55 8.02 14.43 25.53  13.69 4.41 12.63 8.24
ABSL Eqt Advantage Equity: Large & MidCap  15.64 4.54 11.52 8.02 14.06 25.02  16.67 4.61 12.64 8.24
ICICI Pru Focused Equity Equity: Multi Cap  14.89 4.49 11.51 8.01 11.31 21.60  16.04 4.57 12.67 8.25
Sundaram Large & Midcap Equity: Large & MidCap  11.88 4.30 11.51 8.01 12.89 23.50  13.15 4.38 12.74 8.26
BNP Paribas Midcap Fund Equity: Mid Cap  16.25 4.58 11.50 8.01 15.54 27.09  17.83 4.68 13.11 8.34
Data as of December 2020

80 Mutual Fund Insight February 2021

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
 REGULAR DIRECT
3-year 5-year 10-year 3-year 5-year
Return Value Return Value Return Value Return Value Return Value
Rating (%) (` lakh) (%) (` lakh) (%) (` lakh) Rating (%) (` lakh) (%) (` lakh)
Motilal Oswal Long Term Eqt Equity: ELSS  12.41 4.33 11.47 8.00 - -  13.82 4.42 12.94 8.30
DSP Small Cap Equity: Small Cap  17.89 4.69 11.45 8.00 17.72 30.46  18.79 4.75 12.21 8.15
Union Small Cap Equity: Small Cap  17.63 4.67 11.42 8.00 - -  18.34 4.72 12.17 8.15
HSBC Managed Solutions India Growth Hybrid: Aggressive Hybrid  14.24 4.45 11.38 7.99 - -  14.60 4.47 11.71 8.05
Baroda Multi Cap Equity: Multi Cap  15.41 4.53 11.33 7.98 11.04 21.29  16.29 4.58 12.25 8.16
ABSL Frontline Eqt Fund Equity: Large Cap  14.31 4.45 11.32 7.97 12.65 23.21  15.07 4.50 12.19 8.15
Principal Hybrid Equity Hybrid: Aggressive Hybrid  12.09 4.31 11.31 7.97 12.59 23.13  13.37 4.39 12.65 8.24
IDFC Focused Eqt Fund Equity: Multi Cap  12.30 4.33 11.30 7.97 10.50 20.70  13.75 4.42 12.91 8.29
Principal Multi Cap Growth Equity: Multi Cap  12.53 4.34 11.22 7.96 13.70 24.54  13.44 4.40 12.16 8.14
HDFC Mid-Cap Opp Fund Equity: Mid Cap  14.22 4.45 11.16 7.94 15.77 27.42  14.99 4.50 12.05 8.12
Nippon India Focused Equity Equity: Multi Cap  14.50 4.47 11.13 7.94 14.94 26.23  15.23 4.51 11.97 8.11
Invesco India Multicap Equity: Multi Cap Not rated 14.10 4.44 11.12 7.93 15.11 26.47 Not rated 15.54 4.53 12.70 8.25
L&T Midcap Fund Equity: Mid Cap  12.64 4.35 11.09 7.93 16.43 28.42  13.84 4.42 12.25 8.16
IDBI Diversified Eqt Equity: Multi Cap  14.41 4.46 11.06 7.92 - -  15.96 4.56 12.77 8.27
Sundaram Equity Hybrid Hybrid: Aggressive Hybrid  12.22 4.32 11.02 7.92 10.11 20.27  13.39 4.40 12.26 8.16
JM Equity Hybrid Hybrid: Aggressive Hybrid  16.44 4.59 10.97 7.91 10.18 20.35  17.46 4.66 11.83 8.08
Indiabulls Bluechip Equity: Large Cap  12.41 4.33 10.96 7.90 - -  14.01 4.43 12.64 8.24
Edelweiss Agrsv Hybrid Hybrid: Aggressive Hybrid Not rated 13.38 4.39 10.87 7.89 10.72 20.93 Not rated 15.02 4.50 12.21 8.15
Franklin India Prima Fund Equity: Mid Cap  13.84 4.42 10.86 7.89 15.78 27.44  14.75 4.48 11.86 8.08
Franklin Focused Eqt Equity: Multi Cap  13.40 4.40 10.85 7.88 14.62 25.77  14.35 4.46 11.90 8.09
Essel Large Cap Equity Equity: Large Cap  13.65 4.41 10.84 7.88 - -  15.42 4.53 12.49 8.21
SBI Magnum Midcap Fund Equity: Mid Cap  17.46 4.66 10.83 7.88 15.52 27.06  18.41 4.72 11.82 8.07
ICICI Pru Midcap Fund Equity: Mid Cap  13.99 4.43 10.77 7.87 14.75 25.96  14.98 4.50 11.84 8.08
ICICI Pru Value Discovery Fund Equity: Value Oriented  14.59 4.47 10.70 7.85 14.02 24.96  15.23 4.51 11.49 8.01
SBI Long Term Equity Equity: ELSS  14.33 4.46 10.62 7.84 11.77 22.14  14.99 4.50 11.30 7.97
Tata Eqt PE Fund Equity: Value Oriented  11.38 4.27 10.59 7.83 14.12 25.10  12.82 4.36 11.96 8.10
JM Large Cap Equity: Large Cap  13.33 4.39 10.55 7.82 10.28 20.45  14.45 4.46 11.69 8.05
SBI ETF Nifty Next 50 Equity: Large Cap Not rated 11.99 4.31 10.50 7.81 - - Not rated - - - -
DSP Top 100 Eqt Fund Equity: Large Cap  13.26 4.39 10.49 7.81 10.39 20.57  14.04 4.44 11.26 7.96
BOI AXA Large & Midcap Eqt Equity: Large & MidCap  13.72 4.42 10.46 7.81 10.46 20.65  14.98 4.50 11.74 8.06
Nippon India ETF Junior BeES Equity: Large Cap Not rated 12.04 4.31 10.44 7.80 13.19 23.87 Not rated - - - -
BNP Paribas Multi Cap Equity: Multi Cap  12.79 4.36 10.43 7.80 12.60 23.14  14.28 4.45 12.03 8.12
HSBC Multi Cap Eqt Equity: Multi Cap  13.43 4.40 10.36 7.79 12.13 22.57  14.55 4.47 11.38 7.99
HDFC Small Cap Equity: Small Cap  10.69 4.23 10.35 7.79 13.54 24.33  11.77 4.29 11.62 8.03
L&T Tax Advtg Fund Equity: ELSS  11.86 4.30 10.34 7.78 12.27 22.74  12.47 4.34 11.03 7.92
Edelweiss LT Eqt (Tax Svngs) Equity: ELSS  12.99 4.37 10.33 7.78 11.72 22.08  14.81 4.49 11.98 8.11
HSBC Tax Saver Eqt Fund Equity: ELSS  12.89 4.36 10.33 7.78 12.31 22.78  14.11 4.44 11.40 7.99
LIC MF Multicap Equity: Multi Cap  13.55 4.41 10.27 7.77 9.31 19.43  14.39 4.46 11.13 7.94
IDFC Core Equity Equity: Large & MidCap  12.10 4.31 10.24 7.76 11.15 21.42  13.37 4.39 11.68 8.05
JM Core 11 Fund Equity: Large Cap  10.64 4.22 10.24 7.76 12.28 22.75  12.26 4.32 11.81 8.07
Shriram Hybrid Equity Hybrid: Aggressive Hybrid  12.45 4.34 10.23 7.76 - -  14.03 4.44 11.55 8.02
Franklin Equity Equity: Multi Cap  13.51 4.40 10.22 7.76 12.58 23.11  14.36 4.46 11.17 7.95
LIC MF ULIS Fund Hybrid: Aggressive Hybrid  11.98 4.31 10.18 7.75 9.47 19.60  12.98 4.37 11.26 7.96
Franklin Eqt Hybrid Hybrid: Aggressive Hybrid  13.04 4.37 10.18 7.75 11.83 22.21  14.17 4.44 11.42 7.99
Motilal Oswal Multicap 35 Equity: Multi Cap  11.19 4.26 10.15 7.75 - -  12.16 4.32 11.15 7.94
ICICI Pru Equity & Debt Hybrid: Aggressive Hybrid  11.50 4.28 10.11 7.74 12.67 23.22  12.15 4.32 11.03 7.92
L&T Large and Midcap Equity: Large & MidCap  12.20 4.32 10.10 7.74 12.24 22.70  13.09 4.38 11.00 7.91
L&T India Value Fund Equity: Value Oriented  12.32 4.33 9.99 7.72 15.09 26.44  13.33 4.39 10.99 7.91
Tata Large Cap Equity: Large Cap  12.12 4.32 9.98 7.71 10.67 20.88  13.09 4.38 11.18 7.95
ICICI Pru Multicap Equity: Multi Cap  11.66 4.29 9.94 7.71 12.41 22.90  12.67 4.35 11.03 7.92
LIC MF Equity Hybrid Hybrid: Aggressive Hybrid  12.62 4.35 9.92 7.70 9.03 19.14  13.82 4.42 11.18 7.95
Data as of December 2020

Mutual Fund Insight February 2021 81

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 SCOREBOARD
REGULAR DIRECT
3-year 5-year 10-year 3-year 5-year
Return Value Return Value Return Value Return Value Return Value
Rating (%) (` lakh) (%) (` lakh) (%) (` lakh) Rating (%) (` lakh) (%) (` lakh)
HDFC Growth Opportunities Equity: Large & MidCap  12.57 4.34 9.87 7.69 9.09 19.20  12.83 4.36 10.08 7.73
L&T Eqt Fund Equity: Multi Cap  11.70 4.29 9.80 7.68 11.32 21.62  12.43 4.33 10.56 7.83
Franklin India Bluechip Fund Equity: Large Cap  12.97 4.37 9.78 7.68 10.46 20.64  13.77 4.42 10.63 7.84
Nippon India Large Cap Equity: Large Cap  10.29 4.20 9.77 7.67 12.08 22.50  11.20 4.26 10.80 7.87
Motilal Oswal Midcap 100 ETF Equity: Mid Cap Not rated 13.91 4.43 9.77 7.67 - - Not rated - - - -
ICICI Pru Large & Midcap Equity: Large & MidCap  12.30 4.33 9.71 7.66 11.12 21.39  13.17 4.38 10.71 7.86
L&T Hybrid Equity Hybrid: Aggressive Hybrid  11.81 4.30 9.68 7.66 - -  12.93 4.37 10.81 7.88
HDFC Top 100 Equity: Large Cap  10.45 4.21 9.68 7.66 10.84 21.06  11.07 4.25 10.38 7.79
Baroda ELSS 96 Fund Equity: ELSS  13.46 4.40 9.65 7.65 10.36 20.54  14.20 4.45 10.48 7.81
HDFC Capital Builder Value Equity: Value Oriented  10.87 4.24 9.64 7.65 12.30 22.77  11.87 4.30 10.77 7.87
HDFC Eqt Fund Equity: Multi Cap  10.56 4.22 9.61 7.64 11.18 21.45  11.19 4.26 10.36 7.79
ICICI Pru Nifty Next 50 Index Equity: Large Cap  11.05 4.25 9.59 7.64 12.48 22.99  11.49 4.28 10.04 7.73
Baroda Hybrid Equity Hybrid: Aggressive Hybrid  12.34 4.33 9.52 7.63 9.73 19.86  13.15 4.38 10.57 7.83
HDFC Hybrid Equity Hybrid: Aggressive Hybrid  12.21 4.32 9.51 7.62 9.82 19.96  12.93 4.37 10.26 7.77
Principal Nifty 100 Equal Weight Equity: Large Cap  12.34 4.33 9.46 7.61 9.11 19.22  12.58 4.34 9.78 7.68
Essel Large & Midcap Equity: Large & MidCap Not rated 10.71 4.23 9.42 7.61 - - Not rated 12.70 4.35 11.37 7.99
Essel Long Term Advantage Equity: ELSS  10.96 4.24 9.31 7.59 - -  12.79 4.36 11.14 7.94
IDBI Eqt Advantage Equity: ELSS  10.67 4.23 9.25 7.57 - -  12.05 4.31 10.77 7.87
ICICI Pru Child Care Gift Hybrid: Aggressive Hybrid  10.40 4.21 9.06 7.54 11.51 21.84  11.17 4.26 9.89 7.70
Franklin India Taxshield Fund Equity: ELSS  11.56 4.28 9.05 7.54 11.89 22.28  12.54 4.34 10.08 7.73
IDBI Nifty Junior Index Equity: Large Cap  10.61 4.22 8.99 7.53 11.85 22.23  11.26 4.26 9.86 7.69
L&T Emerging Businesses Equity: Small Cap  9.20 4.14 8.92 7.51 - -  10.30 4.20 10.02 7.72
PGIM India Hybrid Eqt Hybrid: Aggressive Hybrid  11.82 4.30 8.90 7.51 9.37 19.49  13.49 4.40 10.50 7.82
Franklin Eqt Advantage Equity: Large & MidCap  11.96 4.31 8.87 7.50 11.31 21.60  12.85 4.36 9.74 7.67
Nippon India Vision Fund Equity: Large & MidCap  12.74 4.35 8.85 7.50 10.11 20.27  13.30 4.39 9.46 7.61
ABSL Eq Hybrid ‘95 Hybrid: Aggressive Hybrid  11.21 4.26 8.74 7.48 11.18 21.45  12.02 4.31 9.70 7.66
IDFC Multi Cap Equity: Multi Cap  10.76 4.23 8.67 7.46 12.33 22.81  11.48 4.28 9.42 7.61
Taurus Largecap Equity Equity: Large Cap  11.74 4.29 8.65 7.46 8.70 18.81  12.00 4.31 9.07 7.54
IDFC Sterling Value Equity: Value Oriented  10.18 4.20 8.53 7.44 11.85 22.24  11.27 4.26 9.68 7.66
Sundaram Diversified Equity Equity: ELSS  10.48 4.21 8.51 7.44 10.86 21.10  10.88 4.24 8.98 7.52
Tata Hybrid Equity Hybrid: Aggressive Hybrid  11.05 4.25 8.45 7.42 11.16 21.43  12.24 4.32 9.71 7.66
UTI Core Equity Equity: Large & MidCap  10.99 4.25 8.41 7.42 9.81 19.95  11.49 4.28 8.95 7.52
UTI Hybrid Equity Hybrid: Aggressive Hybrid  10.49 4.21 8.40 7.41 9.74 19.88  11.26 4.26 9.17 7.56
Motilal Oswal Midcap 30 Equity: Mid Cap  11.79 4.29 8.29 7.40 - -  13.05 4.37 9.59 7.64
Franklin Smaller Companies Fund Equity: Small Cap  11.31 4.26 7.65 7.28 15.17 26.55  12.24 4.32 8.71 7.47
Templeton India Value Equity: Value Oriented  10.02 4.19 7.64 7.28 9.86 20.00  10.67 4.23 8.23 7.38
HSBC Small Cap Eqt Equity: Small Cap  11.89 4.30 7.60 7.27 12.46 22.97  13.17 4.38 8.72 7.48
Sundaram Small Cap Equity: Small Cap  12.81 4.36 7.31 7.22 12.73 23.30  13.75 4.42 8.16 7.37
Sundaram Midcap Equity: Mid Cap  9.32 4.14 7.15 7.19 13.38 24.13  10.11 4.19 7.93 7.33
Aditya Birla Sun Life Mid Cap Fund Equity: Mid Cap  9.96 4.18 7.12 7.18 12.06 22.48  10.90 4.24 8.07 7.36
Franklin Life Stage FoF 20s Hybrid: Aggressive Hybrid  8.61 4.10 7.08 7.17 9.39 19.51  9.28 4.14 7.67 7.28
HDFC Taxsaver Fund Equity: ELSS  7.89 4.06 6.95 7.15 9.58 19.71  8.50 4.09 7.63 7.27
Nippon India Multi Cap Equity: Multi Cap  6.71 3.99 6.51 7.07 9.97 20.12  7.39 4.03 7.26 7.21
Indiabulls Value Equity: Value Oriented  10.13 4.19 6.42 7.06 - -  11.76 4.29 8.14 7.37
Taurus Starshare (Multi Cap) Equity: Multi Cap  7.96 4.06 6.39 7.05 8.07 18.20  8.09 4.07 6.56 7.08
ABSL Small Cap Equity: Small Cap  9.27 4.14 5.99 6.98 12.16 22.61  10.43 4.21 7.18 7.19
HDFC Focused 30 Equity: Multi Cap  7.03 4.00 5.70 6.93 8.45 18.57  7.95 4.06 6.71 7.11
Nippon India Retrmnt Wealth Creation Equity: Multi Cap  6.06 3.95 5.62 6.92 - -  7.08 4.01 6.75 7.12
ABSL Pure Value Fund Equity: Value Oriented  6.62 3.98 4.48 6.72 12.10 22.53  7.69 4.04 5.62 6.92
Nippon India Tax Saver (ELSS) Equity: ELSS  4.92 3.88 3.13 6.50 9.24 19.36  5.62 3.92 3.92 6.63
Nippon India Equity Hybrid Hybrid: Aggressive Hybrid  2.17 3.72 2.84 6.45 8.04 18.17  2.96 3.77 3.89 6.62
Data as of December 2020

82 Mutual Fund Insight February 2021

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

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

DEBT REGULAR (81/236)

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

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

RATING DOWNGRADE List of funds that moved out of the five- and four-star grades in December 2020
BNP Paribas Cons Hybrid Reg

HDFC Equity Savings Reg

Funds suspended for sale have been excluded.

Mutual Fund Insight February 2021 83

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 DEBT DIRECT (82/236)
HYBRID: CONSERVATIVE HYBRID Mirae Asset Dynamic Bond Dir 

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

DEBT: MEDIUM DURATION SBI Magnum Ultra Short Duration Dir 

HDFC Medium Term Debt Dir  DEBT: DYNAMIC BOND

ICICI Pru Medium Term Bond Dir  Axis Dynamic Bond Dir 
ICICI Pru Retrmnt Pure Debt Dir  ICICI Pru All Seasons Bond Dir 
IDFC Bond Medium Term Dir  IDFC Dynamic Bond Dir 
Indiabulls Income Dir  Kotak Dynamic Bond Dir 
SBI Magnum Medium Duration Dir  L&T Flexi Bond Dir 

RATING DOWNGRADE List of funds that moved out of the five- and four-star grades in December 2020
PGIM India Ultra ST Dir

Funds suspended for sale have been excluded.

84 Mutual Fund Insight February 2021

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
 Star ratings of funds are recalculated each month with no subjective input. A
fund is rated only when there are minimum 10 funds in the category, with a
TOP-RATED minimum three-year history for equity and hybrid funds and 18-month

FUNDS
history for debt funds. In the case of equity funds, a fund’s overall rating
stems from a weighted average of two time periods – three and five years –
where available. Equity funds less than three-year old are not rated and debt
funds with less than 18-month history are also not rated.
EQUITY REGULAR (76/233)
HYBRID: AGGRESSIVE HYBRID Tata Index Sensex Reg  PGIM India Midcap Opp Reg 

BNP Paribas Substantial Eqt Hybrid Reg  UTI Nifty Index Reg  Taurus Discovery (Midcap) Reg 

Canara Robeco Eqt Hybrid Reg 

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

RATING DOWNGRADE List of funds that moved out of the five- and four-star grades in December 2020
ABSL Equity Reg HSBC Large Cap Eqt Reg Motilal Oswal Long Term Eqt Reg

ABSL Tax Relief 96 Reg ICICI Pru Bluechip Reg

Funds suspended for sale have been excluded.

Mutual Fund Insight February 2021 85

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
 EQUITY DIRECT (75/233)
HYBRID: AGGRESSIVE HYBRID EQUITY: LARGE & MIDCAP Taurus Discovery (Midcap) Dir 

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

Mirae Asset Large Cap Dir  EQUITY: MID CAP

Motilal Oswal Focused 25 Dir  Axis Midcap Dir 
Nippon India Index Sensex Dir  DSP Midcap Dir 
Sundaram Select Focus Dir  Invesco India Midcap Dir 
Tata Index Sensex Dir  Kotak Emerging Equity Dir 
UTI Nifty Index Dir  PGIM India Midcap Opp Dir 

RATING DOWNGRADE List of funds that moved out of the five- and four-star grades in December 2020
ABSL Tax Relief 96 Dir Motilal Oswal Long Term Eqt Dir

HSBC Large Cap Eqt Dir Principal Emerging Bluechip Dir

Funds suspended for sale have been excluded.

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

86 Mutual Fund Insight February 2021

Subscription copy of [sethvkrm@gmail.com]. Redistribution prohibited.
 Kotak Mutual Fund achieved another
NOTEWORTHY MILESTONE

Thank you for your support and trust

AUM Report For The Quarter Ended December 31, 2020
Asset Class Wise Disclosure Of AUM & AAUM Disclosure Of Percentage Of AUM By Geography
Category AUM as on the Average AUM Geographical % of Total AUM as on
last day of the Quarter for the Quarter Spread the last day of the Quarter
Liquid 46,81,803.10 47,22,873.98 Top 5 Cities 78%
Gilt 87,797.94 87,152.14 Next 10 Cities 15%
Income 87,65,817.26 82,01,911.21 Next 20 Cities 4%
Equity (other than ELSS) 57,66,442.78 52,93,206.65 Next 75 Cities 3%
Equity ELSS 1,52,727.70 1,40,082.83 Total 100%
Hybrid Schemes 19,18,633.63 23,19,039.19
Solution Oriented Schemes 0 0 *Source: AMFI Data as on 31st December 2020
*Quarterly Average Assets Under Management as on 31st December 2020
Index Funds 0 0
GOLD ETF 1,59,131.97 1,53,250.11
Other ETF 7,82,799.83 6,94,643.52
Fund of Funds investing (Overseas) 23,556.13 10,632.48
Total 2,23,38,710.34 2,16,22,792.11

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