8/2/2019
ValueResearchFundcard-MiraeAssetIndiaOpportunitiesRegular-2012Mar05
3/6
Fund Objective & StrategyValue Research AnalysisBest
Performance
AMC :
Website :
Registrar :
Launch :
Benchmark :
Plans (NAV) :
Min Investment (Rs.) :
Min SIP Investment (Rs.) :
Entry Load :
Exit Load :
YEAR
NAV
QUARTER
MONTH
Worst Performance
YEAR
QUARTER
MONTH
All the graphs are rebased to 10,000
Portfolio Manager
Experience
Investment Information
At first blush, this would appear to be an aggressive offering.
After all,
that is what the perception of an opportunities fund is. One
that takes bold
sector and stock bets and swiftly moves between sectors wherever
moneyis to be made. It would not be unusual to find a very
concentrated portfolio
in such a fund. However, thats not what the Mirae Asset
India
Opportunities Fund is all about.
The fund manager here has complete flexibility to invest in
stocks across
sectors and market caps and move out of sectors which do not
appear
to have much upside to focus on those with more chances of an
upswing.
But he keeps himself well grounded, in what one may refer to as
a
conservative strategy. He rarely goes overboard with strong
stock bets
and refers to the fund as a flexi-cap one with a large-cap
bias.
Surana maintains a core portfolio of 20-22 stocks with an
average
allocation of 54 per cent, the balance being opportunistic bets.
In its short
life, the fund has picked up a total of 156 stocks at various
point in time
and around 44 per cent of them were held for less than six
months.
The fund was a top quartile performer in 2009 with a return of
109 per
cent, way ahead of the category average (81%) and the benchmark
- BSE
200 (88.50%).
A prime reason being that it was fully invested at the start of
the rally in
March. We have also been underweight on few of the
underperforming
sectors like Real Estate, Construction and Capital Goods since
inception
i.e. for the last three years, explains Surana.
But despite the impressive numbers, he did miss out
substantially on the
ride in auto stocks in 2009. The average exposure to Auto was
6.11 per
cent in 2009; BSE Auto delivered 204 per cent that year.
Come 2010 and the fund once again stood tall with a return of
23.12 per
cent, outperforming the category average and the benchmark. The
trumpcard? We had equal-weight to the Banking sector, with a bias
towards
private sector banks, and overweight on the Consumer sector with
respect
to the benchmark, says Surana.
Although, the fund didnt really impress with its performance
during the
three quarters of 2008, this year it has been able to curtail
its fall better
than it peers. From the start of the year till August 30, 2011,
the fund lost
13.05per cent (category average: -15.71%).
Dont go by the opportunistic name. This is a fairly
non-aggressive and
well diversified offering which is a standout in its
category.
S&P CNX Nifty
The scheme aims to maximize
long term capital appreciation
by finding investment
opportunities resulting from
Indian economic growth and
its structural shifts through
investing in equity and equity
related securities.
Karvy Computershare Pvt Ltd.
1000
5000Mirae Asset Global Investments (India) Pvt.Ltd.
www.miraeassetmf.co.in
Nil
1% for redemption within 365 days
BSE 200
157.03%
96.22%
34.70%
-31.13%
-40.00%
-34.84%
March 2008
Since Feb 2008
Gopal Agrawal
Dividend (13.38) , Growth (15.97)
8/2/2019
ValueResearchFundcard-MiraeAssetIndiaOpportunitiesRegular-2012Mar05
4/6
Birla Sun Life Frontline Equity Fund
Volatility Measurements
Standard Devia tion 28.32
Sharpe Ratio 0.21
Beta 0.88
R-Squared 0.96
Alpha 4.77
Risk Analysis
Equity 71.37
Debt 18.46
Cash 10.17
Composition (%)
Trailing Returns (%)
Y ea r- to -Date - 48 .5 0 - 55 .2 9 3 4/19 2 - 51 .7 9 - 40 .1
8
3-Month -18. 97 -22.88 41/ 213 -24.53 -0.86
6-Month -20. 78 -27.09 38/ 209 -26.76 -33.43
1-Year -48. 50 -55.29 34/ 192 -51.79 -40.18
2-Year -8. 59 -16.06 22/ 158 -13.63 -24.19
3-Year 7.27 -1.39 12/134 1.42 -9.43
5-Year 16.27 12.91 19/67 9.50 9.90
7-Year - - - - -
10-Year - - - - -
Return less than 1-year are absolute and over 1 year are
annualised
Return Rank S&P SIP
Fund Category Fund/Cat CNX Nifty Return
Quarterly Returns (%)
2008 -24.24 -14.18 -2.23 -18.97 -48.50
2007 -1.42 14.53 16.01 23.88 62.26
2006 19.42 -7.25 19.39 11.70 47.70
2005 -0.04 6.52 23.26 8.02 41.77
2004 0.71 -13.50 15.08 21.15 21.46
Q1 Q2 Q3 Q4 Year
Fund Perfor mance Vs S&P CNX Nifty
Company Sector P/E 2008 Ret % Assets
Top Holdings
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
NAV (Rs) - - - - 10.33 19.71 23.94 33.94 50.13 81.34 41.89
Total Return (%) - - - - - 90.80 21.46 41.77 47.70 62.26 -
48.50
+/-S&P CNX Nifty (%) - - - - - 18.90 10.78 5.43 7.87 7.49
3.29
+/-BSE 200 (%) - - - - - -3.67 5.77 7.97 8.12 1 .82 7.96
Rank (Fund/Category) - - - - - 54/70 50/79 6 5/101 27/145 71/162
3 4/192
52 Week High (Rs) - - - - 10.33 19.71 23.94 33.94 50.76 81.46
83.52
52 Week Low (Rs) - - - - 8.84 9.91 16.36 22.34 32.26 4 6.06
36.49
Net Assets (Rs.Cr) - - - - 51.40 15.15 9.11 140.54 124.74 374.84
343.03
Expense Ratio (%) - - - - 2.49 2.50 2.50 2.50 2.50 2.35 2.31
Rating:Risk: Low
Return: AboveAverage90000
70000
50000
30000
10000
History
Total Stocks 39
Avg Mkt Cap (Rs.Cr) 28180
Portfolio P/B Ratio 3.03
Portfolio P/E Ratio 13.70
3 Y Ea rni ng s Gr ow th ( %) 9. 80
F in anc ia l 1 6. 24 1 1. 90
Energy 14.67 37.49
Communica tion 8 .00 11.34
T ec hn ol ogy 7. 16 1 0. 95
FMCG 6.29 6.85
H ea lt h C ar e 5. 00 2. 74
E ngi nee ri ng 4. 01 5. 26
Metals 3.07 4.43
Services 2.93 0.28
D iv er si fi ed 1. 43 2. 97
F un d N if ty
Top 10 Sector Weights (%)
Portfolio Characteristics
Returns as on 31st December 2008, Portfolio related data as on
30th November 2008
B har ti A ir te l C om mun ic at io n 18 .5 6 -2 8. 10 6 .4
9
R el ian ce I nd us tr ie s E ne rgy 1 1. 50 - 57. 30 5 .4 2
ONGC Energy 8.31 -46.00 4.50
HDFC Bank Financial 20.67 -42.26 3.93
HDFC Financial 17.10 -48.21 3.51
Satyam Compute r Services Technology 7 .86 -62 .12 3 .16
ITC FMCG 21.00 -18.47 2.72
Axis Bank Financial 10.42 -47.82 2.70
Infos ys T ec hn ol og ie s T ec hn ol og y 1 4.29 - 36 .7 9 2
.6 4
United Spirits FMCG 23.26 -55.48 2.34
ICICI Bank Financial 9.49 -63.62 2.26
D r. R ed dy 's L ab H eal th C ar e 13 .6 1 - 36 .1 2 2 .1
9
S ta te B an k o f I nd ia F in an ci al 9 .3 9 - 45. 67 2 .1
3
C ro mp to n G re av es E ng in ee ri ng 1 2.29 - 65 .8 4 2 .1
2
Indian Oil Energy -- -46.33 1.95
Cipla Health Care 22.87 -12.09 1.70
Sterlit e I ndustries Metals 11.81 - 74. 80 1.61
Reliance Communications Communication 22.87 -69.56 1.51
J in dal S te el & P ow er M et al s 7 .0 7 - 7 0. 31 1 .4
6
L ars en & T oub ro D iv er si fi ed 17 .6 5 - 62. 88 1 .4
3
Z ee En te rt ai nm en t S er vi ce s 16 .0 1 -5 7. 45 1 .4
1
CESC Energy 6.21 -62.11 1.37
Tata Consu ltancy Services Techno logy 12.79 -55 .87 1 .36
I NG Vysya Bank Financial 8.89 - 50. 78 1.35
Nestle India FMCG 26.11 -3.14 1.23
Growth Blend ValueInvestment StyleFUNDSTYLE
LargeMediumSmall
Capitalisation
Fund
S&PCNX Nifty
(Rebased to 10,000)
How to Read the Fundcard - Equity
Value Research Rating, Risk and Return
Fund Rating The Value Research Fund Rating is a 1 to 5 star
rating that is based on the returns that an equity fund has
generated over the pre-
vious three and five years, while taking into account the risks
that the fund has taken. This rating is relative to other fund of
the same type. Risk Grade Afive-step grading of the riskiness of a
fund, based on the losses it has suffered during the past five
years. This grade is relative toother fund of the same type.
Returns Grade Afive-step grading of the returns of a fund. This
grade is relative to other fund of the same type.
History
Data on the funds performance
since its launch.
NAV (Year End) The lastNAV of each year.
Total Return The percent-age returns that an investor
would have got over theyear.
+/- In the given year, acomparison of the funds
returns with that of two stock
market indices
Rank The funds perform-ance rank within its category
for the year and the total
number of funds out of
which it has been ranked.
52-Week NAV Range Thehighest and the lowest NAV
that the fund recorded dur-
ing that year
Net Assets The totalamount of investors assetsthat the fund was
managing
at the end of the year.
Expense Ratio The per-centage of the average daily
assets that the fund charged
as its management expens-
es during the year.
Trailing Returns (%)
Performance data for various stan-
dard periods. All returns are in per-
centage. Periods greater than a
year are annualised, shorter peri-
ods are not.
Fund The funds ownreturns.
Category The averagereturns for all funds in the cate-
gory.
Rank The funds rank, out ofthe total number of funds in the
category
Index The returns of thefunds benchmark index.
SIP Return (Annualised) The return that an investor
would have made by investing
in the funds monthly systemat-
ic investment plan over the
period.
Quarterly Returns (%)
The funds returns over each quar-
ter of the last five years, along with
the entire years returns.
Fund Performance Vs Index
Graph of how an investors money
would have grown in the fund since
its launch. A similar graph of the
funds benchmark index is also
given. For ease of comparison,
both have been adjusted to start at10,000.
Risk Analysis
Arange of statistical measures thatcan be used to evaluate the
per-
formance, risk, and return of a
mutual fund.
Top Holdings
A detailed report on the latest
investment portfolio that the fund
is holding. For each company,
the sector, the P/E ratio, and theyears returns are given.
Also
stated is the percentage of the
funds investments that are
invested in that company.
Portfolio Characterstics
Aggregate measures regarding
the funds investments. The mar-
ket capitalisation, P/B ratio and
P/E ratio are weighted averages
of the latest numbers of the com-
panies that the fund is invested
in. Three Year Earnings Growth
is the weighted average of thecompounded average growth in
the net profits of each company.
Fund Style
Anine-cell matrix of the overall style
of investment that the fund follows,
based on its latest portfolio. On the
vertical axis, the three steps denote
the weighted average market capital-
isation of the funds investments. The
horizontal axis denotes, on a weight-
ed average basis, whether the com-panies that the fund has
invested in
are value stocks, growth stocks, or a
blend of the two.
Top 10 SectorWeights (%)
The percentage of
the equity invest-
ments of the fund
that fall under each
sector of the econo-
my. The top 15 sec-
tors for each fund
are given.
Composition (%)
The proportion of
the funds holdings
that are held in
each of the three
basic types of
assets.
