Why is HDFC Small and Mid Cap Fund not rated?
- Niladri Shekhar Dey
Value Research does not rate an equity or hybrid fund with less than three-year performance and a debt fund with less than 18-month performance record. Morgan Stanley A.C.E Fund became HDFC Small and Mid Cap Fund in 2014, after Morgan Stanley Fund entered into an agreement with HDFC Mutual Fund. There was a change in the fundamental attributes of the scheme, as A.C.E was mandated to invest across capitalisations whereas HDFC Small and Mid Cap Fund invests predominantly in small- and mid-cap stocks. We do not rate a scheme till it completes three years after a change in the investment style.
This article was originally published on December 23, 2015.
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