Tata Balanced Fund

Tata Balanced Fund scheme seeks steady returns from debt along with growth from equities instruments. The likely equity to debt investment ratio is 70 to 30. Earlier known as Tata Equity Growth Fund, Tata Twin Balanced has been merged in to this fund.

Consistency is the middle name of this balanced fund, which has managed impressive performance amid the swinging markets of the last seven years. It has retained a four-star rating for most of the period since inception due to this quality. It has been among the top ten funds in the balanced category in eight of the last ten years.

The fund manages with a 75-25 equity-debt allocation, with its equity exposure consistently above 70 per cent. Large-cap stocks make up 60-70 per cent of the exposure, with this proportion going up lately.

This is a quality-biased and growth-style fund. Each sector is played through a basket of five-eight companies. The top holdings are capped at 4-5 per cent to reduce concentration and to capture more opportunities.

The debt portion has allocations mainly to G-secs and quality commercial paper, with sub-3 per cent exposure to lower-rated corporate bonds.

Tata Balanced Fund three- and five-year returns have beaten the benchmark by 5-6 percentage points and the category by 1-2 percentage points. But the fund has underperformed in the last one year. The fund didn’t fare well in the bear market of 2008, but it navigated 2011 quite well. The ten-year return of 16 per cent compares well even to pure equity funds. In the debt portion, the fund has maintained a slightly longer duration of 6-8 years to make the most of rate falls. This has been toned down lately to less than six years.

A fund that navigates all kinds of markets well and delivers with high predictability.

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Which Mutual Fund to Invest ?

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All mutual fund schemes within a fund house will need to be appropriately distinct from each other in terms of strategy, asset allocation, etc.

There are two basic ways to earn money — by working and by making your assets work for you. The latter is an idea that each one of us thinks about once we start earning — choosing the right investment strategy assumes paramount importance. As is has been rightly said by Ben Graham, noted American investor & ‘the father of value investing’, "The individual investor should act consistently as an investor and not as a speculator."

In India, the influx of the domestic investors’ money in equity markets (mutual funds) has been increasing significantly over the past few years.

For those still in woods, a mutual fund is a professionally managed investment scheme run by an asset management company that accumulates people’s money and invest them in stocks, bonds and other securities.

You can start investing in mutual funds from as little as Rs. 500. Should you need help finding the right fund, a simple Google search for a good largecap equity funds would throw up numerous possibilities.

But unfortunately, for many first-time investors, having to choose from the plethora of equity funds, all claiming to outperform the index and the benchmark, is like finding a needle out from what seems like a haystack of schemes available and registered with the Securities & Exchange Board of India (SEBI). To simplify this, SEBI on October 6th, 2017, released new guidelines on categorizing mutual funds, asking funds to classify their schemes under five clearly defined categories.

These categories are classified as Equity Schemes, Debt Schemes, Hybrid Schemes, Solution Oriented Schemes and Other Schemes. Fund houses will be allowed to have one scheme in each category, except for Index funds/ETFs tracking indices, fund of funds and thematic schemes investing in different sectors.

Additionally, all mutual fund schemes within a fund house will need to be appropriately distinct from each other in terms of strategy, asset allocation, etc. If a fund house currently has more than one fund in the same category, they will necessarily need to be merged into one. As of now, fund houses will have to analyze each of their existing schemes, obtain approvals from their trustees and submit their proposed course of action (whether a scheme will be merged, wound up or its fundamental attributes will be changed) to the regulator within the next two months. After SEBI issues its observations on the fund house’s proposals, the necessary changes will have to be carried out within three months.

This move will also test the fund managers stock picking skills since the basket of funds to choose from is now common. For example, a fund manager of a “large cap fund” could have an allocation in the midcap stocks in order to generate alpha returns. Though this could yield higher returns, it is also important to note that it increases the risk of the fund, thereby increasing the risk for the investor who may not have the appetite for midcap exposure. Although at an overall level, the equity allocation for an investor does not change, what used to change was the sub-allocation towards mid-cap and small cap in his portfolio via various funds held by him. Thanks to the new circular, the fund manager is now restricted in terms of the exposure he can have in each of the categories, thereby bringing the risk down.

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HDFC Top 200 Fund

If you are investing for many years, you would have seen that this fund does well over the long term. Sometimes there are periods during which the fund struggles compared to its peers. However I think that there has been a great improvement in this fund. You can continue your SIP in this fund.

Don’t let your SIP stop. The effect of compounding is more important than the short-term fluctuations in fund performance.

Invest Rs 1,50,000 and Save Tax up to Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds. Save Tax Get Rich

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Mutual Fund SIP Approach for Investing

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MF SIP

Most investors are familiar with the advantages and convenience of investing in mutual funds through SIPs. We have also recommended the SIP approach in our model portfolios. But don’t expect this to be a foolproof safeguard against losses. SIP only reduce the risk—they do not remove it altogether. An equity fund portfolio will certainly slip into the red if the markets recede.

SIPs are when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich

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Types of Mutual Fund SIP

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Variants of SIPs
Mutual fund houses have introduced different variants of SIPs, here are some of them.

Top-up SIP: The SIP top-up facility which allows the investor to increase his SIP amount either by fixed amount or as a percentage. Suppose you are investing Rs 5,000 per month and you want up the SIP amount by Rs 1,000 the next year. Then you can simply choose this option given on the SIP registration form and mandate the AMC that after one year, they should debit Rs 6,000 from your bank account.

On the other hand, if you have chosen the percentage top-up option of say 10 per cent, then Rs 500 will be additionally debited along with your existing SIP of Rs 5,000 from next year.

Flexi SIP: Flexi SIP works on the principle of ‘buy low, sell high’. It continues to invest more when market valuations are low and vice versa. Here the investment date is fixed, however, the amount is not fixed.

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Reliance Top 200 Fund

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Reliance Top 200 Fund scheme will invest in equity or equity related instruments of companies whose market capitalization is within the range of highest and lowest market capitalization of BSE 200 index.

Reliance Top 200 Fund which has built up a sizeable lead over the benchmark and category in the last three years, it has climbed from a three-star rating to four and five stars in the last one year.

This large-cap-oriented fund invests in companies whose market capitalisation is within the range of the highest and lowest market capitalisation of BSE 200 index. The fund attempts to have allocations to market leaders in smaller industries, apart from these exposures. Currently, over 80 per cent of the fund’s assets are invested in the top 100 companies by market capitalisation.

Reliance Top 200 Fund has typically maintained a 75-85 per cent large-cap exposure, with the remaining portion in mid caps. The mid-cap weight is higher than that of category peers. While the fund doesn’t adhere to pure growth- or value-style investing, it is quality-oriented and doesn’t overpay for any of its stocks.

Businesses with a long operating history, dominant industry standing, high return on equity and sustainable profitable growth are the key portfolio choices. While the year-to-year performance of the fund shows mild underperformance of the benchmark and category in 2016, the fund’s one-year, three-year and five-year returns are well ahead of both the benchmark and category returns.

A look back at annual returns suggests that this fund is quite good at riding the first wave of a bull market, with exceptional returns in 2010, 2012 and 2014. It managed to contain losses to just below benchmark levels in the bear phases of 2008 and 2011.

Overall, Reliance Top 200 Fund is a consistent performer in the large-cap space.

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ICICI Prudential Ultra Short Term Plan

ICICI Prudential Ultra Short Term Plan is a fund that aims at generating regular income through investments in a portfolio of debt and money market securities of very short maturities while ensuring safety and liquidity of investment. The fund will keep a minimum of 20 per cent of its assets in money market instruments, and the rest in debt market instruments.

With one-year returns of 9.2 per cent and three-year returns of 9.35 per cent, the fund is a middle-of-the-roader in the category when seen purely in terms of returns. On a three-year basis, the returns put it about 28 basis points ahead of the benchmark and 40 basis points ahead of the category.

ICICI Prudential Ultra Short Term Plan features a well-spread-out portfolio that is usually evenly split between sovereign instruments, commercial paper and corporate bonds. The fund occasionally owns AA or AA+ paper at 7 per cent or less weight in the portfolio. This makes for very limited credit risks. While the fund’s credit profile is quite conservative, the fund does take on some duration risk as its average maturity hovered between 2.1 and 2.9 years in the last one year.

The expense ratio is at 0.58 per cent for the regular plan and 0.26 per cent for the direct plan, against the category averages of 0.93 and 0.38 per cent.

Invest Rs 1,50,000 and Save Tax up to Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds. Save Tax Get Rich

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Gold Savings Funds

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Indians are fond of gold and buy jewellery. It is meant for consumption but we pretend it’s an investment. My long-term view on gold is that it is an unproductive asset. It doesn’t help whether you buy it in form of Sovereign Gold Bonds, Gold Savings Funds or a gold fund.

Equity and fixed income are the core financial investments which should be pursued and nothing else. If at all you need to have something else, then there are different things coming up like a recurring deposit in Sovereign Gold Bonds which is in planning phase.

That is something to keep an eye on, but as an investment, stay away from gold.

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L &T India Dynamic Equity Fund

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L &T India Dynamic Equity Fund

AUM: ₹474 crore

1-year return: 10.49%

FUND MANAGERS: Jalpan Shah, Praveen Ayathan and Soumendra Nath Lahiri

A fund for conservative investors, it used the PE ratiobased asset allocation model. The net long equity allocation will be determined based on the month-end weighted-average PE ratio of the Nifty 50 Index and the portfolio is rebalanced within the first five business days of the following month. Once the Nifty PE crosses 22, the fund has a net long position of 20-30% in equities. If PE goes below 14, the fund has a net long position of 70-80%. The fund manager uses a bottom-up approach for stock picking, has a diversified portfolio and adopts a multi-cap strategy for the equity portfolio.

SIPs are when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich

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IDFC Sterling Equity Fund

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Fund Manager: Anoop Bhaskar
Investment Style: Mid Growth
Investment Process: The fund manager is mindful of the sector weights in the benchmark index when constructing the portfolio. He scouts for growth-oriented companies available at reasonable valuations.

Silver Date of Analysis: July 2017

The leadership at IDFC Sterling Equity has witnessed multiple changes in the past. Kenneth Andrade helmed this fund from March 2008 till it was taken over by Aniruddha Naha in June 2013.

Naha relinquished his management responsibility when he quit the fund house in March 2016 and subsequently its reins were taken over by Anoop Bhaskar. Andrade was an accomplished manager and the fund had built an impeccable track record under him. He quit the IDFC fund house in September 2015. In our opinion, Bhaskar is an apt replacement for Andrade. Despite the leadership change, there is a continuity in the process.

Like his predecessors, Bhaskar too pays heed to the IISL Nifty Free Float Midcap 100 Index, loosely aligning the portfolio’s sector weights with those of the index. Having said that, he does not mind being significantly overweight or underweight in sectors either from a bottom-up basis or macro perspective. Yet, Bhaskar has a distinctive style of investing which he brings to the fore while executing the strategy.

Consequently, the portfolio went through a makeover after he took over the fund to ensure that it is in line with his investment approach. While investing, he looks for companies which have decent amount of promoter holdings, good cash generation, low leverage, and profitability over a cycle. He avoids businesses that show profitability in spurts. Given the fund’s small/mid-cap bias, it gives Bhaskar an opportunity to play to his strength.

However, the investment team has witnessed significant turnover in the last few years which is a cause for concern. Except for Bhaskar, the other team members currently lack long-term portfolio management track record, though they have good research experience. Hence there is a key-man risk in Bhaskar.

Nevertheless, IDFC Sterling Equity Fund is well placed under Bhaskar’s leadership and we draw conviction from his presence at the helm of the investment function. He is a proven small/mid-cap specialist and under him the fund has the means to outperform the competition over a longer time frame

SIPs are when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich

For further information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

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