Its assets under management (AUM) increased nearly sixfold in just three years to ₹14,109 crore during March-end 2026 from ₹2,378 crore in March-end 2023. Manish Gunwani and Rahul Agarwal have been managing the fund since January 2023 and August 2023, respectively.
The scheme aims to ensure long-term capital appreciation by investing in a diversified portfolio of predominantly equity and equity-related securities. Greater focus is on large and midcap securities.
The fund outperformed the benchmark (Nifty LargeMidcap 250 TRI) over the one-, two-, three, five-, seven- and 10-year trailing periods. It also outperformed its peers (funds ranked in the CMFR’s large & midcap fund category in March 2026) over the
one-, two-, three-, five-, seven- and 10-year trailing periods.
To put this in perspective, ₹10,000 invested in the fund on May 20, 2016, would have increased to ₹45,404 on May 21, 2026, at an annualised rate of 16.32 per cent.
The same investment in the category and the benchmark would have grown to ₹39,929 (14.84 per cent) and ₹45,122 (16.25 per cent), respectively.
A systematic investment plan (SIP) is a disciplined way of investing in mutual funds, wherein a specific amount is invested at regular intervals.
A monthly SIP of ₹10,000 in the fund over 10 years, totalling ₹12 lakh, would have grown to ₹28.83 lakh (16.78 per cent annualised return). In comparison, the same investment in the benchmark would have increased to ₹27.18 lakh (15.68 per cent), as on May 21, 2026. The fund has outperformed the benchmark over the one-, three-, five-, seven- and 10-year SIP periods.
The fund maintained a lower allocation to largecap stocks than the category average over the past three years.
On average, the fund allocated 41.73 per cent to largecap stocks, compared with the category average of 46.61 per cent. Its allocations to midcap and smallcap stocks averaged 36.32 per cent and 16.62 per cent, respectively, against the category averages of 37.45 per cent and 11.66 per cent. The fund’s allocation to smallcap stocks was higher than that of its peers.
The fund’s portfolio was diversified across 24 sectors. The highest average allocation was to financial services at 29.35 per cent, followed by healthcare (8.30 per cent), information technology (6.25 per cent), automobile and auto components (5.99 per cent) and capital goods (5.80 per cent).
The fund’s overweight positions (vis-à-vis its category) in certain large, mid and smallcap stocks and high-return sectors such as power (31.56 per cent), metals (31.10 per cent) and realty (21.59 per cent) helped it outperform in the past three years.
