Page 3 - Multi Cap Fund News Today

Gopal Agrawal, Senior Fund Manager-Equities, HDFC Asset Management, talks to BT about his investment philosophy and market outlook

Fund manager and head of equity research at Nippon Mutual Fund says he is not happy with too many IPOs. He says the fund house is least confident in sectors reliant on external demand, such as IT services and commodities

"Consumer discretionary is a long-term structural theme with the availability of many diverse sets of niche businesses. Indias per capita income is less than $2500, which is very low compared to many other countries, but it is expected to grow rapidly over this decade. With rising per capita incomes, discretionary consumption grows meaningfully."

“The multicap category has been one of the best for this financial year so far because in the midcap category the best fund has underperformed, but here the best fund has actually outperformed the benchmark by about 3.3%. . Post Covid value has always outperformed the broader market large and value dividend yield have done phenomenally well .”

The fund house has decided to make the Aditya Birla Sun Life Focused Equity Fund a multi-cap portfolio compared to the large-cap equity portfolio now. The fund house has also given an exit option to investors until October 13, 2023, without any exit load.

The investment objective of the scheme is to provide long-term capital appreciation / income by investing across market capitalisations and managing a diversified portfolio of large cap, mid cap and small cap stocks.

Large cap funds saw the highest outflow of Rs 1,880 crore. The large cap category has been witnessing outflows since the last three months. Focused funds category witnessed an outflow of Rs 1,066.72 crore. The category has been witnessing outflows for the last four consecutive months.

Mirae Asset Multicap Fund, HDFC Transportation and Logistics Fund, and HDFC Charity Fund for Cancer Cure are currently open for subscription.

Pti: Tata AIA Life Insurance Launches Small Cap Discovery Fund

The multi cap category outperformed the benchmarks - Nifty500 Multicap 50:25:25 - TRI, and NIFTY 500 - TRI in the first half of the year.