or actually marginally outperformed its benchmark in the last year I think, there are two ways to look at it What we've seen in
the last year is a fairly robust bull market, where typically mid and small caps have given disproportionate returns as compared to the larger peers From an asset allocation
perspective, any fund that has had a higher tilt towards mid and small compared to a fund that is probably primarily more large-cap oriented, inevitably would have done better As far as Bandhan ELSS
is concerned, today we’re running roughly a mid & small cap portfolio of about 30% versus the benchmark, mid & small cap weightage of about 28% So, we’re pretty much close to being in line with
what the benchmark is I think staying in line with the market rather than trying to deliver excessive alpha by taking on excessive risk is probably the better way to play I think it's
equally important to try and understand that in a bad year, markets will go through cycles, and I think that's the genesis with which we’re currently positioning our portfolio.