Bank of India Mid & Small Cap Equity & Debt Fund – Direct Plan

Performance analysis

Rolling returns in quartiles

The 3-year excess rolling returns are decreasing across the hybrid aggressive bond. The blue line is mostly in the 2nd/3rd quartile.

The fund has generated positive excess returns during the period from July 2021. The blue line’s time above the median line indicates that the fund has outperformed the performance of the median. In April 2023, the excess returns were around 10% per annum. 

Rolling risk/return (Snail-trail)

The standard deviation on the 3-year excess returns range between 2% to 5%. overall there is high volatility in the fund.

The fund has shown a significant time around 5% to 10% per annum, whilst higher than the index volatility of 4% – 6% per annum. However, in May 2023, the excess returns went up to around 10%.

Tracking error

The tracking error ranges between 2 to 8.

The tracking error was the highest at 14.5% in May 2019 and May 2022. However, in May 2023, the tracking error came down to around 5.2%. The overall range has been around 10% to 14%.

Information ratio

The information ratio ranges between 2 to -2. The overall ratio has been mostly below 0.

In July 2021, the information ratio reached the peak at 4.6. However, in May 2023, the ratio came down to 0.2. The overall range has been around -1 to 1.

Prepared by – Ganesh Hulke, June 2023