INF277K015K0
Overall analysis
3 years of rolling return and tracking error against benchmark was not good overall The ratio shows that this fund was always in negative so Ideally the fund was not 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.
The 3 year rolling return of this chart shows that this fund was always in negative and one time it was touched -7%. Currently also this fund is negative and last return was -4.9%.
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 Trail chats show that this fund was on the left down side. It indicates low negative return.
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 between 3% to 7%. And one time it went more than 7%.
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 going down less than 1.5% in May 2020 and after November 2020 it was in negative. So ideally this fund was not good.
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 high growth fund and this is a low volatility and liquidity fund. Momentum of this fund was high compared to category average. But fund size is medium compared to category average.
Prepared by – <Nisarg Patel>, August 2023
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