INF879O01027
Overall analysis
3 years of rolling return and tracking error against benchmark have been good overall. All the ratios show that this fund gives good returns in the long term. So, this fund is good 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 that time fund was between 1% to 4% and after May 2018 fund was going down till October 2019. After October 2019 fund is facing some ups and downs and January 2020 fund started to go upside down. Currently the fund is 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 major part of this fund in top left side positive area.
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.
1 year rolling tracing error of this fund shows that the fund is always maintained between 5.5% to 10%. October 2020 fund went up and in April 2022 fund touched 13%. After June 2022 fund was again come back between 5.5% to 10%.
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 is less than 1 till March 2020. After March 2020 it faces so many ups and downs. Currently the information ratio is 0.4%.
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 is a blended large cap 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 fund is a growth fund and this is a low volatility and liquidity fund. Yield of this fund was high compared to category average.
Prepared by – <Nisarg Patel>, August 2023
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