Page 17 - BF Cover January 2021.cdr

MUTUAL FUND

Mutual fund investors who showed Multi Cap Funds The open ended dynamic equity
patience and continued with their PGIM India Diversified Equity Fund, scheme invests across large, mid, and
investments, earned decent returns as 34.52%, 398 small cap stocks to facilitate capital
the stock markets soared. 86% of the appreciation over medium to long
Parag Parikh Long Term Equity Fund,
equity schemes ended the year with 30.51%, 5,757 term. The change in name will be
double digit returns. Equity mutual effective from January 30, said the
UTI Equity Fund, 29.28%, 13,546
funds rose as high as up to 76% in the fund house.
year about to end soon. Quant Small Tax Saving or ELSS Funds
Cap Fund topped the chart with 76% BOI AXA Tax Advantage Fund, 30.01%, As part of scheme categorisation and
returns in 2020, followed by BOI AXA 351 make it true to label, Sebi had insisted
Small Cap Fund (52%) and PGIM India Canara Robeco Equity Tax Saver Fund, that multicap funds should invest 25
Midcap Opportunities (49%). 24.75%, 1,333 per cent each in small, mid and large
cap stocks. This has unsettled most
Here is a list of top three mutual funds Mirae Asset Tax Saver Fund, 19.83%, multicap schemes as their investment's
which were one year toppers in large 5,044 were tilted towards large cap stocks.
cap, mid cap, small cap, large & mid
cap, multi cap and tax saving or ELSS ICICI Pru Mutual Fund Following the industry representation,
fund categories. Schemes holding SEBI in November introduced a new
assets below Rs. 100 crore were not launches Business Cycle category of equity oriented schemes
considered. named flexicap.
Fund : Five things to know
Fund Name, 1-Yr Return, Net ICICI Prudential Mutual Fund has Axis Flexi Cap scheme, moving to the
Assets (Rs. crore) launched a new fund offer of ICICI new category will continue to adopt a
Large Cap Funds Prudential Business Cycle Fund, an flexible approach to allocation and not
be constrained by market cap
Canara Robeco Bluechip Equity Fund, open-ended equity scheme which aims
20.74%, 1,122 to provide long term wealth creation restrictions.
by investing in equity and equity After the revision, Axis Flexicap Fund
Axis Bluechip Fund, 17.11%, 20,480 related securities with focus on riding
UTI Mastershare Fund, 16.49%, 7,008 will invest minimum 65 per cent to
business cycles through dynamic maximum 100 per cent in equity and
Large & Mid Cap Funds allocation between various sectors/ equity related investments, maximum
Canara Robeco Emerging Equities themes/ market caps, based on 35 per cent in debt and money market
Fund, 23.44%, 6,880 prevailing business cycle. The scheme investments and maximum 10 per cent

Axis Growth Opportunities Fund, will follow a top down approach to in units issued by REITs & InvITs.
22.87%, 1,907 investing and will invest across market Furthermore, the scheme shall invest
Union Large & Midcap Fund, 21.85%, 209 capitalization. Here are the five things in debt instruments having structured
to know about the NFO of ICICI Pru obligations/credit enhancement as per
Mid Cap Funds Business Cycle Fund:
PGIM India Midcap Opportunities Fund, limit prescribed by Sebi. Not more
49.13%, 471 The NFO of ICICI Prudential Business than 20 per cent of the net assets of
Cycle Fund will open December 29, the Axis Flexicap Fund can be deployed
UTI Mid Cap Fund, 32.50%, 4,491
2020 and closes on January 12, 2021. in stock lending as per the current
SBI Magnum Midcap Fund, 28.92%, provisions.
4,113 Axis MF changes multicap
"We have been successfully managing
Small Cap Funds fund to flexicap this fund over the last three years and
Canara Robeco Small Cap Fund,
Axis Mutual Fund has renamed existing we believe that this change allows
40.79%, 572
multi cap fund to the newly formed existing and prospective investors to
Principal Small Cap Fund, 37.02%, 238 Flexi Cap category keeping in line with participate in the strategy in the best
Edelweiss Small Cap Fund, 34.44%, 585 its current product positioning. manner," said the fund house.T

BANKING FINANCE | JANUARY | 2021 | 17