 "mutual fund investment")
The report has been updated
HDFC Flexi Cap Fund, launched in January 1995, has featured in the top 30th percentile of the flexi cap funds category of CRISIL Mutual Fund Ranking (CMFR) for three consecutive quarters through March 2024.
HDFC Flexi Cap Fund, launched in January 1995, has featured in the top 30th percentile of the flexi cap funds category of CRISIL Mutual Fund Ranking (CMFR) for three consecutive quarters through March 2024.
The fund’s month-end assets under management (AUM) increased to Rs 50,840 crore in March 2024 from Rs 23,128 crore in March 2021. Roshi Jain is the fund manager. The fund aims to generate capital for investors, along with regular income, through a portfolio predominantly invested in equities and equity-related instruments.
Trailing returns
The fund has outperformed the benchmark (Nifty 500 TRI) in the past 1-, 2-, 3-, 5-, 7-, and 10-year trailing periods and its peers (funds ranked under the flexi cap category in March 2024 CMFR) in the past 1-, 2-, 3-, 5-, 7-, and 10-year trailing periods.
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To put this in perspective, Rs 10,000 invested in the fund on November 26, 1998 (inception of the benchmark) would have increased to Rs 21.05 lakh on June 06, 2024, at an annualised rate of 23.3 per cent. In contrast, the same investment in the category and benchmark would have grown to Rs 9.62 lakh (19.57 per cent) and Rs 5.49 lakh (16.98 per cent), respectively.
A systematic investment plan (SIP) is a disciplined mode of investing offered by mutual funds through which one can invest a certain amount at regular intervals. A monthly investment of Rs 10,000 over the past 10 years in the fund, totalling Rs 12 lakh, would have grown to Rs 31.77 lakh (or annualised return of 18.71 per cent) compared with Rs 28.6 lakh (16.74 per cent) in the benchmark as on June 6, 2024.
Portfolio analysis
In the past three years, the fund has predominantly had a high exposure to large cap stocks and low exposure to mid and small-cap stocks.
Allocations to mid-cap and small-cap stocks averaged 9.33 per cent and 6.02 per cent, respectively. Those to large-cap and non-equity portions averaged 78.25 per cent and 6.4 per cent, respectively.
The portfolio was diversified across 17 industries. Financial services dominated, with an average allocation of 35.49 per cent, followed by energy (14.31 per cent), information technology (9.26 per cent), pharma (6.04 per cent) and automobiles (4.95 per cent).
During the period under analysis, the fund took exposure to 86 stocks and held 22 consistently. Key contributing stocks to the portfolio were State Bank of India, NTPC, ICICI Bank and Hindustan Aeronautics.
