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FUNDSUPERMART.COM MUTUAL FUND RESEARCH RECOMMENDATIONS

At Fundsupermart.com, we have an in-house research team to provide independent research and detailed analyses of the market movements, and to help you make the smartest next move.

We strive to analyze funds with as long a comparable history as possible and only within their peer group.

For A Look At Our Methodology, Click here..

For A More Detailed Description Of Why We Recommend Any Particular Fund, Please Click On The Recommended Fund's Name Below:

 
Equity
Debt
Hybrid
Recommended Funds  Fund Class
Performance (Annualised)
1 year 2 years 3 years 5 years
Buy  
SBI MAGNUM EQUITY FUND- GROWTH  Large Cap  17.49 12.98 7.51 18.74
CANARA ROBECO EQUITY DIVERSIFIED- GROWTH  Large Cap  18.82 12.86 8.36 20.57
BSL FRONTLINE EQUITY FUND- GROWTH  Large Cap  23.85 18.68 9.21 20.53
FRANKLIN INDIA BLUECHIP FUND- GROWTH  Large Cap  15.78 11.24 5.83 18.06
ICICI PRUDENTIAL FOCUSED BLUECHIP EQUITY FUND- GROWTH  Large Cap  23.02 15.94 8.59 21.19
Please note that while we hope that these recommendations would be useful for investors, you are also advised to look at the fund's scheme information document/ statement of additional information and do your own further research before making your investment decisions.

SBI MAGNUM EQUITY FUND- GROWTH
Investment Strategy: The fund will invest into equity and equity related instruments, derivatives, debt instruments, Government Securities, money market instruments and derivative instruments. The fund's stock count stood at 37 in December 2010 after which it showed a declining trend and as of November 2013, stands at 31. As far as the portfolio goes, it can be seen that the fund had around 10 stocks which have been a part of its holdings during the entire period of analysis. Some of these include names like ICICI Bank, Infosys, HDFC Bank and ITC. Another interesting observation is that ICICI Bank has been among the top 5 picks during all the months under analysis. A scrutiny of the sectoral allocation shows that as of November 2013, the top 5 sectors were: Banks (22%), Software (18%), Petroleum Products (10%), Consumer non-durables (9%) and Pharmaceuticals (7%). Among these sectors, the Fund Manager has been bullish on Banks and Software which can be derived from the fact that they have been among the top 5 sectoral picks during the period of study with an average allocation of 22% and 13% respectively.

Performance: The fund is a first time entrant into our list of Recommended Large-cap Funds. The fund has generated a CAGR of 3.49% and 21.38% over a period of 3 years and 5 years while the benchmark performance has been to the tune of 1.94% and 18.16% respectively during the same time period.

Fund Manager's Comments:
* Pure large-cap fund, large-caps defined as the top 100 companies in terms of market cap rank
* Low on risk - target the 15th to the 45th percentile of the large-cap peer set
* Active tracking error constraint (4% to 6%) - max 6% sector active weight and 4% stock active weight (all active weights against relevant benchmarks; Reliance an exception coz of peer set constraints)
* Target a benchmark coverage of around 50%, defined as the sum of the lower of the portfolio or benchmark weight of stocks owned
* High on concentration (around 30 to 40 stocks) but that should be looked at in conjunction to the concentration on the benchmark
* Max 10% cash
* Investment perspective - medium term, 1-year

Inception Date: January 1, 2001

Fund Manager: R. Srinivasan

Asset Size: INR 1,043 crore (AUM as of November 2013)

Exit Load: 1% on or before 1 year, Nil after 1 year

Benchmark: CNX Nifty
 
View Fact Sheet Buy Fund View Fund Card

CANARA ROBECO EQUITY DIVERSIFIED- GROWTH
Investment Strategy: The fund's investment strategy is based on bottom-up approach to stock picking. It is mandated to invest into companies with a strong competitive position in good business and is having a quality management team. The fund will be actively managed with the support of in-house research. While selecting stocks, the emphasis will be on fundamentals of the business, the industry structure, the quality of management, sensitivity to economic factors, the financial strength of the company and the key earning drivers. During the period of analysis, the total number of stocks in the portfolio has been in the range of 42 to 55. The active management of the fund is evident from the fact that out of the 50 stocks held in the portfolio in November 2013, only 14 have been a part of the portfolio during the entire period of analysis. As far as the sectoral allocation is concerned, the fund seems to prefer Banks, Consumer non-durables and Software as they have been among the top 5 sectoral picks during the analysis. The average allocation of the 3 preferred sectors have been to the tune of 18%, 11% and 10% respectively.

Performance: A first time entrant into the Recommended Funds list, this fund is one of the best performers in the large-cap space as per our model. Over a 3-year and 5-year time period, the fund has generated a CAGR of 4.75% and 23.61% vis-à-vis the benchmark which has delivered 0.49% and 18.89% respectively.

Fund Manager's Comments: In terms of current portfolio composition and outlook, we believe that with a slower growth in domestic economy and pick up in the developed economies, led by USA, the companies with a business model focused on international demand are likely to fare better. In addition the recent depreciation in INR has helped the competitiveness of Indian exporters. Thus we like select companies in IT, Pharma and manufacturing exports. We believe private sector banks are better placed with relatively superior asset quality and are expected to do well in 2014. Adequate capital, reliance on retail and SME lending and better managed corporate lending supports a healthy balance sheet and growth going ahead. We believe that the private sector banks will continue to gain market share at the expense of the State owned banks. We also continue to remain bullish on the Domestic Consumption story, a theme which we have been following for some time now. However, we are selective in terms of stock-picking given the current valuations and earnings expectations, some stocks are priced to perfection. High quality franchises generating attractive returns on capital & experiencing favorable business trends would be the businesses to watch out for in this space. Markets may be volatile in near term, given the uncertainty surrounding QE tapering and the upcoming General elections in domestic context. In such a scenario, bottom-up stock picking based on individual companies which have shown reasonable earnings & have visibility of growth going forward will be the mantra followed by the fund.

Inception Date: September 16, 2003

Fund Manager: Ravi Gopalakrishnan

Asset Size: INR 626 crore (AUM as of November 2013)

Exit Load: 1% on or before 1 year, Nil after 1 year

Benchmark: S&P BSE 200 
View Fact Sheet Buy Fund View Fund Card

BSL FRONTLINE EQUITY FUND- GROWTH
Investment Strategy: The fund intends to be a diversified fund having an exposure across different industries and/or sectors which will be similar to its benchmark index (S&P BSE 200). The fund will have the same sectoral weights as that of the benchmark index; however, the fund manager has the flexibility to select the stocks within a particular sector. The fund will invest into frontline stocks which refers to companies that will provide superior growth opportunities as per the Fund Manager. The fund's stock count has been in the range of 54 to 70 during the period of analysis. As of November 2013, the fund's portfolio had around 66 stocks out of which 27 have been a part of the scheme for the entire period of analysis. If we dig deeper into the portfolio then it can be seen that there are 3 stocks namely ICICI Bank, ITC and Reliance Industries, which have been among the top 5 holdings during all the months of analysis. If sectoral allocation is considered, the top 5 sectoral picks as of November 2013 have been Banks (17%), Software (15%), Consumer non-durables (11%), Finance (9%) and Pharmaceuticals (8%). Among sectors, Banks and Software have been among the top 5 sectoral picks during all the months under analysis.

Performance:The fund made an entry into our Recommended Funds list for the first time in 2013 and continues to be a top performing large-cap fund this year as well. Over a 3-year and 5-year time period, the fund has generated a CAGR of 4.90% and 22.48% vis-à-vis the benchmark which returned 0.49% and 18.89% respectively. This outperformance could be attributed to the prudent stock selection being done by the Fund Manager.

Fund Manager's Comments:In the near term the economic activity is expected to pick up driven by a number of factors. a) The good monsoon has helped increase agricultural output which bodes well for the rural economy; b) Inflation and interest rates are expected to peak in the next few quarters. c) Rupee Depreciation has resulted in improved competitiveness for Indian exporters versus other countries. This comes at time when most of the developed world is witnessing a steady economic recovery leading to demand for global merchandise going up. d) Over the medium to long term the growth trajectory would be sustainable once investments pick up. The Cabinet Committee on Investments (CCI) and Project Monitoring Group (PMG) are working to resolve issues related to execution of projects. In addition, further step up is expected once general elections are through. Going ahead, we believe the above mentioned factors would lead to an improved growth outlook. Hence we are overweight on sectors like Banking and Financial Services sector, Software, Pharmaceuticals, Capital Goods etc., which is well reflected in our portfolio.

Inception Date: August 30, 2002
Fund Manager: Mahesh Patil
Asset Size: INR 3,584 crore (AUM as of November 2013)
Exit Load: 1% on or before 1 year, Nil after 1 year
Benchmark: S&P BSE 200
 
View Fact Sheet Buy Fund View Fund Card

FRANKLIN INDIA BLUECHIP FUND- GROWTH
Investment Strategy: The fund's investment strategy is a combination of value and growth style of investing. The fund generally follows a bottom-up approach to stock selection and does not have a bias towards any particular sector. The stocks in the fund belong to the large-cap domain, which are defined as stocks whose market capitalization is higher than that of the 100th stock in the CNX 500 Index. The fund's stock count has been in the range of 37 to 46. A perusal of the portfolio shows that around 20 stocks have been a part of the portfolio during the period of analysis. Among these stocks, 3 stocks have been among the top 5 picks during the entire period of analysis. This includes stocks like Bharti Airtel, Infosys and ICICI Bank whose average allocation has been to the tune of 8%, 7% and 7% respectively. On the sectoral front, the top 5 picks as of November 2013 include Banks (22%), Software (11%), Pharmaceuticals (9%), Telecom - Services (8%) and Petroleum Products (8%). However, it can be seen that during the entire period of analysis, Banks and Software have been among the top 5 sectoral picks with an average allocation of 20% and 10% respectively.

Performance:One of the best performers in the large-cap category, the fund continues to be a part of our Recommended Funds list regardless of its short term volatility. The fund has generated a CAGR of 3.14% and 21.02% over a period of 3 years and 5 years. During the same time period, the benchmark has delivered a CAGR of 2.33% and 18.67% respectively.

Inception: December 1, 1993
Fund Managers: Anand Radhakrishnan & Anand Vasudevan
Asset Size: INR 4,915 crore (AUM as of November 2013)
Exit Load: 1% on or before 1 year, Nil after 1 year
Benchmark: S&P BSE Sensex 
View Fact Sheet Buy Fund View Fund Card

ICICI PRUDENTIAL FOCUSED BLUECHIP EQUITY FUND- GROWTH
Investment Strategy:The fund is mandated to invest into 20 large-cap stocks from among the top 200 available on the National Stock Exchange of India (NSE) in terms of market capitalization. However, the fund has the flexibility to increase the number of stocks to more than 20, if the fund corpus crosses INR 1,000 crore. The fund follows a bottom-up approach to select bargain stocks and does not have a sectoral bias. In the initial 3 months of the period of analysis, the fund had only 20 stocks, after which we could see a gradual increase in the number of stocks from 20 to 36. As far as the stock selection goes, the fund has around 9 stocks which have been held throughout the months of analysis. The top 5 holdings as of November 2013 include names like HDFC Bank (9%), Infosys (7%), ICICI Bank (7%), ITC (7%) and Kotak Mahindra Bank (5%). Among these stocks, the first four have been a part of the portfolio for the entire duration of the analysis. On the other hand, an analysis of the sectoral allocation shows that the fund management team has been betting big on 2 sectors, specifically Banks and Software whose average allocation has been 24% and 13% respectively. These sectors have been among the top 5 sectoral picks during the period of analysis.

Performance:The best performing large-cap fund on the platform, it continues to beat all the filters in the model year after year. Over a period of 3 years and 5 years, the fund has generated a CAGR of 6.36% and 24.66% while the benchmarks returns have been to the tune of 1.94% and 18.16% respectively.

Fund Manager's Comments:The fund's investment strategy is based on 3 criterions:

Long-Term Focus: The Fund has adopted a "buy and hold" approach. The Fund aims to identify companies that offer reasonable potential for long-term growth. It intends to take aggressive position in high conviction stocks with an aim to generate alpha.

Bottom-up approach: The focus is more on stock selection than sector selection. The stock selection follows the bottom-up approach. The endeavour is to select the best stock/s in a sector than to diversify into many stocks confined to sectors.

Benchmark hugging strategy: The Fund seeks to create a reasonable diversification across sectors while concentrating on around 35 stocks to limit dilution by over diversification. This is achieved by a benchmark hugging strategy, which ensures that the portfolio is well diversified across sectors, hence may help reducing the overall concentration risk.

Inception Date: May 23, 2008
Fund Manager: Manish Gunwani
Asset Size: INR 4,719 crore (AUM as of November 2013)
Exit Load: 1% on or before 1 year, Nil after 1 year
Benchmark: CNX Nifty 
View Fact Sheet Buy Fund View Fund Card

 
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