The fund is suitable for those investors who want an exposure to large as well as mid caps in their portfolio with a time horizon of more than 3 years.
Nature: Equity oriented open ended
Inception: August 2007
Assets under Management: Rs 30 crore at the end of March 2014
Fund Manager: Vetri Subramaniam and Vinay Paharia
Analysis:
- Religare Invesco Growth Fund invests in large and mid cap stocks and at the end of November 2012 the fund had the highest exposure to banks with 19 per cent of its portfolio in this area. Consumer non durables, finance and petroleum products were some of the other leading sectors present in the portfolio. The fund took aggressive position and this was visible in its holdings. ITC was the top individual holding with a 9 per cent share. HDFC Bank, HDFC, L&T, Reliance Industries, ONGC, Infosys and Maruti were some of the other leading stocks in the portfolio. The BSE 100 was the benchmark index for the fund and portfolio turnover was 0.44 times. The fund was an underperformer over a one year period but an outperformer over the three year period ended September 2012.
- Six months later banks continued to be the top sector and now it had a 22 per cent share of the portfolio. Software, oil and finance were some of the other sectors with a significant share. The turnover ratio was steady below 0.5 times. HDFC Bank was the top individual holding while ONGC, HDFC, Reliance Industries, ICICI Bank, L&T, Maruti and Britannia were some of the other top stocks in the portfolio. The fund was an outperformer over the one and three year periods ended March 2013.
- There was a change in the portfolio by November 2013 as banks and software were now having an equal weightage of around 16 per cent each. Petroleum products and consumer non durables were two other sectors with a significant share. The portfolio turnover ratio remained steady. HDFC Bank was the top holding with an 8 per cent share. Reliance Industries, TCS, HDFC, Britannia, Wipro, L&T, Maruti and ICICI Bank were some of the leading holdings. The fund was an outperformer over the one and three year time periods ended September 2013.
- At the end of May 2014 banks had a slightly higher exposure in the portfolio as compared to software. Auto and Finance were some of the other leading sectors present in the portfolio. HDFC Bank was the top individual holding with a 10 per cent share in the portfolio. TCS, HDFC, ICICI Bank. L&T, Wipro, Maruti, Hero Motocorp and Britannia were some of the other leading holdings. The funds portfolio turnover ratio had dropped to 0.3 times. The fund was an outperformer over the one and three year time periods ended March 2014.
- The fund is suitable for those investors who are willing to take some additional risk and want an exposure to large as well as mid caps in their portfolio with a time horizon of more than 3 years.
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