INF680P01109
Overall analysis
3 years of rolling return and Tracking error against benchmark have been very good overall. The rolling return of this fund shows that This fund was given more than 8% for all time. This fund was best 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.
3 years of rolling return of this fund was very good. The fund shows clearly the lowest return of this fund was 8.8% in June 2020. It was never coming down below 8%, it always maintained between 8% to 20%.
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.
Snail trial charts show that this fund was on the left down side.
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 started with 3%. February 2020 tracking error of this fund went up and it touched 6.3% after that in January 2021 fund was breck 6% and fund was again down. After that fund was maintained between 3% to 6%.
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 between 1 to -2. In February 2021 it came down and touched -8% after that it again went up and came between 1 to -2.
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 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 is a medium growth fund, and this fund has low volatility and low liquidity. But fund momentum and yield is high compared to category average.
Prepared by – <Nisarg Patel>, August 2023
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