INF090I01FK3
Overall analysis
3 years rolling return of the fund was good on their starting days after it came down All the ratios show that the fund gives average return on starting days after that fund goes down and comes back up side. So, this fund was good for long term investment.
Performance analysis
Rolling return in quartiles
The rolling return chart shows excess 3-year annualised returns in context of peer return quartiles. The blue line’s time above the third green median line indicates the fund’s better than median performance.
3 years of rolling return of this fund was started with 8% and it came down, after March 2018 it was in negative and October 2021 it was again come back in positive and currently in positive.
Rolling Risk/return (snail-trail)
The rolling risk/return chart shows excess 3-year annualised returns relative to the index. The top left quadrant would indicate higher returns with lower volatility than index.
The Snail Trail chart of this fund shows that this fund came in positive and negative. So, ideally this was not a good fund.
Tracking error
The tracking error chart shows how the fund ‘tracks’ against the index. The higher the TE, the more active the fund’s return has been, with the 3-6% range considered to be barely active, >6% range considered to be reasonably active and anything higher attributed to concentrated/focused funds. Funds with TE of less than 3% can be considered to be closet indexers.
Tracking Error of this fund was running between 2% to 4%. After May 2022 it went up more than 4% and touched 8%. In December 2022 it was again between 2% to 4%.
Information ratio
The information ratio is a measure of ‘risk-adjusted return’ as it’s the excess return per unit of excess volatility. Active funds should have IR of higher than 1, ideally higher than 1.3 at least to indicate skill.
Information ratio of this fund was always less than 1, So ideally it was not a good fund.
Portfolio analysis
Stock style chart
Morningstar’s stock style chart shows the ‘style’ of the stocks in the portfolio in terms of size and value/growth style. The centroid shows the weighted average while the zone circle shows how varied the stock styles are.
This is a large cap growth fund.
Factor profile chart
Morningstar’s factor profile shows the historical style analysis of the stocks in the portfolio in terms of size, value/growth style and other key factors. The blue circle shows the fund relative to the black dot for the category average.
This is a growth fund and this fund has low volatility and liquidity. Fund momentum is low compared to category average and funds show good growth over the past 5 years.
Prepared by – <Nisarg Patel>, August 2023
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