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Invesco India Business Leaders Fund

4 Value Research
-0.56%
Change from previous, NAV as on Jun 23, 2017
Category: Equity: Large Cap
Assets: R 160 crore (As on May 31, 2017)
Expense: 2.48% (As on May 31, 2017)
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Investment Objective

The scheme will invest primarily in equity and equity related instruments including equity derivatives of companies which should be leaders on the respective industry.

Fund Managers
+ Taher Badshah since Jan 2017
+ Vinay Paharia since Jun 2014
  • Education: Mr. Paharia holds a B.Com degree from Narsee Monjee College and an M.M.S. degree from Welingkar Institute of Management, Mumbai.
  • Experience: Prior to joining Religare Invesco Asset Management Company (Jan 2007-Present) he was associated with DBS Cholamandalam AMC (Jan 2006-Jan 2007), K R Choksey Shares and Securities Pvt Ltd (Jan 2004-Jan 2006), First Global Stock broking Pvt. Ltd (Jun 2002-Jan 2004).
  • Funds Managed:
  • Invesco India Mid N Small Cap Fund - since May 2008
  • Invesco India Mid Cap Fund - since Dec 2008
  • Invesco India Tax Plan - since Jun 2010
  • Invesco India Business Leaders Fund - since Jun 2014
Analysis
As on Feb 23, 2017

This fund's mandate is slightly different from the others in the large-cap category. It selects stocks based on whether they are in a leadership position in a sector based on profit metrics, rather than market-cap range alone. This USP ensures that its portfolio is made up of stocks that weather business and economic adversity very well.

After sharp outperformance of the category for three years, the fund saw the margin of outperformance narrow down in the last one year.

Though not specifically hunting for large caps, the fund is quite large-cap tilted, with a 90 per cent plus allocation to large caps in its portfolio. The fund house's focus is on quality at a reasonable price.

While the fund has seen a slight slowdown in performance in the last one year, it has outpaced its benchmark by 3.5-6 percentage points on a three- and five-year basis. The fund's degree of outperformance relative to the category is narrower, at about 2 percentage points, over five and seven years. After a middling show until 2012, returns have seen substantial acceleration. As it is yet to see a severe bear market, its performance in a market crash is yet to be tested, though the fund weathered 2011 rather well.

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