
This fund has made enormous wealth for its investors over the years. But this year, and the last one, it underperformed its peers by a wide margin. The reasons are not hard to comprehend. After several years of strong performance, the growth style of investing, which the fund is an ardent follower of, has taken a beating this year. It is evident from the fund's portfolio. Almost all of its top holdings (such as Bajaj Finance, Divi Laboratories, Avenue Supermarts, and Info Edge) were hit hard in the first couple of quarters this year. Big sell-off by FIIs in some of these stocks didn't help either. But these are also the holdings which have rewarded the fund and its investors handsomely over the years. That's why the fund continues to rank in the top half on long-term returns. Despite this year's uph
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