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Tata Equity Opportunities: Failed to maintain consistency
13 Jul 2012, 11:28 AM
Tata Equity Opportunities fund is an open ended Equity Diversified fund with an objective to generate capital by investing in equity and equity related instruments of well researched value and growth oriented companies. However, over the years, this fund has failed to maintained consistency in its performance. Financial advisor Arnav Pandya advices conservative investor to wait until the performance of the fund stabilises before investing.

Nature: Diversified Equity

Inception: February 1993

Assets under Management: Rs 278 crore at the end of June 2012

Fund Manager: Bhupinder Sethi & Dinesh Dacosta


The fund invests across market caps to benefit from opportunities in the equity markets. At the end of June 2010, the fund had the highest sector exposure to software at 12 per cent of the total portfolio followed by Banks and Pharma. The amount in cash and cash equivalents was negligible and Infosys was the top holding with an exposure of just over 4 per cent of the portfolio. Other companies with a high exposure included ONGC, Sadbhav Engg, Wipro, and Oracle. The portfolio turnover ratio was 136 per cent and it was outperforming its benchmark the BSE Sensex over the one and five year time periods. At the end of December 2010 the fund had the highest exposure to auto with nearly 12 per cent of the portfolio here. This was closely followed by banks, software, Pharma, and consumer non durables. Lupin was the top individual holding in the portfolio though HDFC Bank was not far behind. Some of the other companies with a higher exposure include M&M, TVS, Hindalco, HUL, Reliance Industries, and Tata Steel. The fund was underperforming the benchmark over the one, three, and five year time periods. Six months later banks had surged to the top of the sector holdings with an exposure of over 16 per cent. This was followed by consumer non durables and Pharma. The fund was now taking a slightly higher exposure to sectors as well as individual
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