In the last column, we commenced a discussion on Large Cap Funds. In this column, we shall turn the spotlight on some of the funds with larger Assets under Management (AUM). These funds include Axis Bluechip Fund, Mirae Asset Large Cap Fund, ICICI Prudential Bluechip Fund, HDFC Top 100 Fund and SBI Bluechip Fund.
Axis Bluechip Fund has an AUM of R36,980 crore, and its current Asset Allocation mix is almost 88% in equity with the residue in debt and cash or cash-equivalents. Its current holdings are approximately 98% in giant and large-cap and 2% in mid-cap.
The top holdings are in the financial, technology and services sectors. The returns recorded by this fund over a 3-year, 5-year and 7-year time period are 15.80%, 12.87% and 13.56%, respectively. Mirae Asset Large Cap Fund has an AUM of R33,747 crore, and its current Asset Allocation mix is almost 99% in equity with the residue in cash or cash-equivalents. Its current holdings are approximately 81% in giant and large-cap, 17% in mid-cap and 2% in small-cap. The top holdings of this fund are in the financial, technology and energy sectors. The returns recorded by this fund over a 3-year, 5-year and 7-year time period are 17.60%, 11.78% and 14.33%, respectively.
ICICI Prudential Bluechip Fund has an AUM of R33,739 crore, and its current Asset Allocation mix is almost 91% in equity with the residue in debt and cash or cash-equivalents. Its current holdings are approximately 88% in giant and large-cap, 11% in mid-cap and around 1% in small-cap. The top holdings of this fund are in the financial, energy and technology sectors. The returns recorded by this fund over a 3-year, 5-year and 7-year time period are 19.14%, 12.23% and 13.75%, respectively.
SBI Bluechip Fund has an AUM of R34,043 crore, and its current Asset Allocation mix is almost 94% in equity with the residue in cash or cash-equivalents. Its current holdings are approximately 88% in giant
and large-cap and 12% in mid-cap. The fund’s top holdings are in the financial, automobile and technology sectors. The returns recorded by this fund over a 3-year, 5-year and 7-year time period are 18.77%, 11.21% and 12.85%, respectively.
HDFC Top 100 Fund has an AUM of R22,306 crore, and its current Asset Allocation mix is almost 97% in equity with the residue in debt and cash or cash-equivalents. Its current holdings are approximately 92% in giant and large-cap and 8% in mid-caps.
The fund’s top holdings are in the financial, technology and energy sectors. The returns recorded by this fund over a 3-year, 5-yearand 7-year time period are 16.58%, 11.02% and 12.78%, respectively. There is a school of thought that the Large Cap category is the one where passive funds (Index Funds) will outperform their active counterparts. Perhaps so, but it is always better to have a broader and longer data canvas before concluding emphatically.