Jun 21, 2014, 05.14 PM IST | Source: Moneycontrol.com
Investors looking for an exposure to small and mid cap funds can consider this as a part of their portfolio. It is suitable for slightly aggressive investors who are comfortable with a slightly higher amount of risk.
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Review: DSP Blackrock small and mid cap fund
Investors looking for an exposure to small and mid cap funds can consider this as a part of their portfolio. It is suitable for slightly aggressive investors who are comfortable with a slightly higher amount of risk.
Inception: November 2006
Assets under Management: Rs 1148 crore at the end of May 2014
Fund Managers: Apoorva Shah and Vinit Sambre
Analysis:
- DSP Blackrock Small and Mid Cap Fund focuses on stocks that are not in the top 100 ones by market capitalisation so there is a broad range of options from which it can choose its investments. At the end of November 2012 finance was the top sector in the portfolio with a share of 11 per cent. Consumer non durables, banks, Pharma and construction were some of the other sectors with a significant share. Around 2.5 per cent of the portfolio was in cash and cash equivalents. Godrej Industries was the top individual stock with Eicher Motors, Pantaloon Retail, Tata Global beverages, Bombay Dyeing, EID Parry, Max India and ING Vysya Bank being some of the other leading holdings. The portfolio turnover ratio was 0.87 times. Around 47 per cent of the portfolio was in mid caps while 23 per cent in small caps and 22 per cent in micro caps. The CNX Midcap index was the benchmark index for the fund and it was an outperformer over the one and three year time periods ended September 2012.
- Finance continued to be the leading sector in the portfolio at the end of April 2013 and now its share had gone up to 15 per cent. Consumer non durables, software, chemicals and Pharma were some of the other leading sectors. The mid cap exposure in the portfolio was up to 56 per cent while the small and micro cap exposure each fell below 20 per cent. Godrej Industries was the top individual holding in the portfolio. Eicher Motors, HPCL, Glenmark Pharma, ING Vysya, Tata Global Beverage, CMC and Max India were some of the other leading holdings. The turnover ratio was steady at 0.85 times. The fund was an outperformer over the one and three year time periods ended March 2013.
- The end of November 2013 saw Pharma and software as the top sectors in the portfolio with a share of around 11 per cent each. Consumer non durables, banks and finance were the other areas with a significant share. The mid cap exposure in the portfolio remained around the 55 per cent mark while the micro cap one fell to 12 per cent. The portfolio turnover ratio had climbed to 0.95 times. Tata Communications was the top individual holding with IPCA Labs, CMC, Persistent Systems, Arvind, ING Vysya Bank, Bayer Cropscience, Britannia and Eicher Motors some of the other significant ones. The fund was an underperformer over a one year period but an outperformer over the three year period ended September 2013.
- Banks was the top sector in the portfolio at the end of May 2014. The portfolio had undergone a change with industrial capital goods, textile products, software and Pharma being some of the other top sectors. Arvind was the top individual holding in the portfolio. Bharat Electronics, CMC, Federal bank, ING Vysya Bank, IPCA labs, SKS Microfinance and Bayer Cropscience were some of the other leading holdings. The portfolio turnover ratio had climbed to 1.3 times. Mid caps constituted 42 per cent of the portfolio while small caps were 21 per cent and micro caps around 18 per cent. The fund was an outperformer over the one and three year time periods ended March 2014.
- Investors looking for an exposure to small and mid cap funds can consider this as a part of their portfolio. It is suitable for slightly aggressive investors who are comfortable with a slightly higher amount of risk.
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