
We are usually not fond of funds that shuffle their asset allocation too much. That's because it requires taking a call on the markets and we don't think it is possible to get it right in a sustainable manner. On the hand, a tightly defined asset allocation adds a great degree of predictability to the risk-return outcomes one should expect. But this fund is an exception. That's because of its methodical approach to asset allocation. Refer to the graph Net equity allocation ( per cent) Vs Sensex which reveals how the fund gradually and systematically alters its net equity allocation in response to the ups and downs of the market. As the equity market ticks up the fund pares down the net equity exposure bit-by-bit, and as and when a sharp c
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