The fund tends to perform in bouts but definitely impresses over the long term. After a fabulous run between 2003 and 2005, it hit a rough patch between 2006 and 2008. In 2009 and 2010, it was a top quartile performer to again be a middle-of-the-road one in 2011. But the reason is not bad fund management. It’s simply that the fund manager’s convictions are not recognised by the market for a period of time.
The fund manager is known to stick his neck out, whether it’s in stocks/sector bets or market cap he tends to go with a higher allocation to mid and small caps. “As there is a lock-in period of three years, it’s not necessary to have a large-cap bias as liquidity is not the issue,” explains Sankaran Naren, CIO-Equity. A great fund if you are willing to ride the bets and take exposure to smaller stocks.
This article was originally published on April 24, 2012.
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