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FUND INVESCO INDIA TAX PLAN REGULAR DIRECT
ANALYST’S
CH ICE When safety is the priority
Launch he fund deserves a closer look constructing the portfolio. The fund
December 2006 for its consistency to beat an swings between market-cap segments
Fund manager Taverage peer, more so when the based on relative valuations.
Dhimant Kothari
Amit Nigam markets are going through a rough However, frequent fund manager
patch. In the last 13 calendar years, it changes are a bit of concern. Vetri
has underperformed an average peer Subramaniam (from December 2008
Expense ratio (%) only three times but never in a year till January 2017) and Vinay Paharia
DIRECT when the markets have crashed. In (June 2010–Mar 2018) had been its
0.90 1.15
MIN FUND MEDIAN MAX fact, in every such year (2008, 2011 long-time fund managers. After
and 2018), it was in the top quartile of Subramaniam’s exit, Taher Badshah
0.25 2.04 the category. The fund continued to co-managed it with Paharia for a brief
REGULAR display the same trait during the period. From March 2018, Amit
2.15 2.28
MIN FUND MEDIAN MAX quarter ending March 2020, when the Ganatra (who left in May 2020) was in
markets crashed due to COVID-19. charge, along with Dhimant Kothari.
1.62 2.58
This achievement should particularly Now after Ganatra’s exit as well, the
Trailing returns (%) appeal to investors who get anxious responsibility of building upon this
Regular Direct S&P BSE 500 TRI when markets fall. fund’s illustrious track record lies
The fund is managed with a with Kothari and Amit Nigam. A lot of
15.59 ‘growth at a reasonable price’ strategy. fund-manager changes are undesirable
1-Year 16.96 Stock selection is primarily bottom-up and though these haven’t impacted
16.46
but with an overlay of top-down the fund’s performance, it’s something
7.51 views and valuations while we would like to watch closely.
3-Year 8.95
6.76
Growth of `10,000 SIP `8.70 lakh | `9.03 lakh
13.43 10 lakh
5-Year 15.10 Regular Direct
13.83
8 lakh
84.85
Recent 86.81
rally 6 lakh
99.14
-34.57
Recent -34.51 4 lakh
crash `6.10 lakh
-35.60
2 lakh Amount invested
Recent rally: March 23, 2020 — February 05, 2021
Recent crash: February 25, 2020 — March 23, 2020
Data as on January 31, ‘21. 0
Expense as on December 31, ‘20. February 2016 January 2021
REGULAR DIRECT
Year
2016 2017 2018 2019 2020 2021 (YTD) 2016 2017 2018 2019 2020 2021 (YTD)
Rating
Quartile 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4
ranking*
Fund 3.42 35.74 -1.24 9.43 19.16 -1.33 5.17 37.98 0.32 10.88 20.55 -1.23
return (%)
Category 4.58 38.40 -6.33 8.26 16.16 -1.36 5.57 39.81 -5.35 9.38 17.46 -1.27
return (%)
Investment style
Fund style Growth Blend Value Large Medium Small Capitalisation Category returns are for ELSS funds. *Quartile ranking means the quartile in which the fund appears when all the funds in the category are arranged in a descending order of
returns. YTD as on January 31, ’21. The ratings of direct and regular plans have been calculated separately in relation to their respective regular and direct peers. Hence, they
can be different. S&P BSE 500 index has been given only for comparison. It may not be the stated benchmark of the fund.
40 Mutual Fund Insight March 2021
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