Canara Robeco Equity Diversified is an open ended scheme with an investment objective to generate capital by investing in equity and equity related securities. Ranked 2 by Crisil this fund is a must have in the portfolio of the investors who seeks exposure in the Large cap segment.
Nature: Equity Diversified
Inception: September 2003
Assets under Management: Rs 543 crore at the end of March 2012
Fund Manager: Soumendra Nath Lahiri
This fund invests in a portfolio comprising primarily of large caps along with some mid caps using the growth and value style of investing. At the end of May 2010, the fund had 25 per cent of its assets in the banking sector followed by 10 per cent in Pharma and 8 per cent in petroleum products. What was significant was that the portion of the portfolio in money market instruments was around 9 per cent. In terms of individual stocks, Reliance industries was the top holding with an exposure of more than 6 per cent. No other stock had an exposure in excess of 5 per cent. Some of the other top holdings included HDFC Bank, GAIL, BHEL, TCS and Sun TV network. The portfolio turnover ratio was a miniscule 0.12 times which showed that the fund was following a buy and hold strategy. The fund was also outperforming the benchmark the BSE 200 over the one, three, and five years time period. Six months later, the fund had around 11 per cent of the portfolio in money market instruments. Banks remained the top sector but the exposure was now down to 13 per cent and this was followed by consumer non durables, Pharma, and software where the exposure was 9 per cent in each of the areas. There was a significant rise in the portfolio turnover ratio as this went up to 1 times. HDFC Bank was the top holding in the fund with a 5.7 per cent exposure followed by Bharti Airtel, TCS, Reliance Industries, GAIL, and BHEL. The fund was outperforming the benchmark over the one, three and five year time period. The situation did not change