This one is not for the faint hearted. Thanks in part to its tilt towards mid and small caps, it gets hit harder during market turmoil, 2008 being a case in point. Despite exposure to FMCG and Healthcare and a high cash allocation, it lost more than the average. But it bounces back during rallies and over time the long-term performance is good. A sensible choice for the slightly adventurous who are comfortable with a not-so-smooth ride.
What you will find here is a highly diversified, liquid, multi-cap portfolio with the number of stocks ranging between 63 and 83 (past year). It touched 97 in March 2008. Allocation to a single stock goes above 5 per cent only in select large-caps and there is a long tail of stocks with allocation of less than 1 per cent. Allocation to a single sector has rarely exceeded 15 per cent, barring Financial Services, currently its top sector.
This article was originally published on April 18, 2012.
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