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  PSU banks perpetual bonds offer deep value
HDFC’s Equity Savings Fund, with a little less than 2 years of track record in its new avatar, is being noticed by advisors for its sound performance, led by astute stock and bond picking. A GARP orientation with no cap or style bias on the equity side along with a sharp focus on picking bonds with deep value, are enabling the fund to deliver what investors expect from this segment of funds – consistent and steady performance, with a potential to outperform debt and deliver inflation beating returns over market cycles.

Well positioned for a cyclical recovery
L&T Business Cycles Fund is uniquely positioned in that it changes colour in keeping with the phases of business cycles: cyclicals in the early stages of a business cycle, moving into defensives as the cycle matures. The last couple of years ought to have been challenging for the fund – it positioned itself for an economic recovery which has proved elusive thus far – but to its credit, the fund has posted healthy performance despite this.

  31 years dividend record will be maintained irrespective of market phase
UTI Mastershare has built up a loyal investor base on the back of an enviable 31 year uninterrupted dividend track record. Swati says the endeavour will be to maintain this track record going forward irrespective of market phase.

Its more about sit tight rather than buy right now
The MOVI index based Motilal Oswal Dynamic Equity Fund has started its journey on the right notes, getting into top quartile performance in its initial years. With equity allocation pruned to less than 50%, it is well placed in the present correction. Gautam candidly admits that the relentless upward march of valuations over the last year means that he is doing a lot more of sitting tight rather than buying right.

  Compounders help drive sharp performance turnaround
Canara Robeco’s Equity Diversified Fund has shaken off a relatively weak string of performances to drive into top quartile this year, on the back of a three pronged strategy, led by a sharp focus on compounders, a reduction in the tail of the fund and greater emphasis on value migration.

Early signs of another winner from this equity powerhouse
Mirae Asset Prudence is now 2 years old – and the early signs clearly seem to suggest that the fund house has yet another winner in its stable, given the strong performance vs benchmark and peers in the keenly contested balanced funds space.

  Wealth Builder gets a dynamic edge
In its new avatar, UTI Wealth Builder checks off all the boxes that are in vogue today. Srivatsa takes us through the transformation of the fund from a multi-asset fund with fixed allocations across equity, debt and gold to the more dynamic model that it has now adopted.

Bucking the large cap alpha squeeze trend
In sharp contrast to Ambit Capital’s recent report which talks of vanishing alpha in large cap funds, ICICI Pru Focused Bluechip has in the same time period, delivered a healthy 4.8% alpha, and Naren remains confident of the fund’s ability to continue delivering alpha across market cycles

  We are at 25% cash in the fund now
Invesco India Dynamic Equity Fund uses cash allocations to fine tune equity exposure in response to market valuations and yield gap, thus lending stability in times of overvaluation while getting fully allocated to equity when valuations warrant. Currently, the fund is running with 25% cash allocation – up from the 15% levels of early 2017.

Value conscious all weather equity winner
Tata Equity P/E Fund (no, its not an asset allocation fund – it is a fund that is mandated to have 70% of its portfolio in stocks having lower P/E than the market) has been posting healthy alpha year on year – irrespective of whether value or growth styles are in vogue.

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