INF336L0DH5
Overall analysis
The 3-yr rolling excess return tracking error against benchmark has been average overall. Starting days of this fund was doing good after some time this fund came down and gave an average 2%/3% return. So, this fund is not a good option for 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.
When the fund was started it was doing good, the fund was touched to the 8.80% and after march 2018 fund was going into negative and currently in negative.
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 shows the fund was in the top right part and the fund was only positive in 2016 after all the years the fund was in the negative part.
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.
Most of the time fund tracking error is above 3 it is far to the index. Only one time the fund touched 2.2% in March 2022.
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 Ration of the fund is between 1.5 to – 1.5. Sometimes it goes down more than -1.5.
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 fund was a large cap blend 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 chart shows that this fund was a growth fund and this fund has low volatility and liquidity compared to 5 years of historical range.
Prepared by – <Nisarg Patel>, August 2023
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