Review: Should you buy into Kotak 50 plan?

Mar 15, 2014, 04.54 PM IST | Source: Moneycontrol.com

The fund seeks to generate returns through investments in 50 to 59 companies in the equity space. This is also the flagship fund of the mutual fund house. At the end of August 2012 banks were the top sector in the portfolio with a share of 17 percent.

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Review: Should you buy into Kotak 50 plan?

The fund seeks to generate returns through investments in 50 to 59 companies in the equity space. This is also the flagship fund of the mutual fund house. At the end of August 2012 banks were the top sector in the portfolio with a share of 17 percent.

Nature: equity oriented open ended

Inception: December 1998

Assets under Management: Rs 684 crore at the end of January 2014

Fund Manager: Harish Krishnan

Analysis

• The fund seeks to generate returns through investments in 50 to 59 companies in the equity space. This is also the flagship fund of the mutual fund house. At the end of August 2012 banks were the top sector in the portfolio with a share of 17 per cent. Petroleum products, software and Pharma were some of the other areas that had an exposure of more than 10 per cent. Reliance Industries was the top holding and the company along with Infosys had an exposure equal to 9 per cent of the portfolio. HDFC Bank, ICICI Bank, ITC, Power Grid, Coal India and Bharti Airtel were some of the other leading stocks in the portfolio. The portfolio turnover ratio was a high 200 per cent plus figure. The CNX Nifty was the benchmark index and the fund was an outperformer over the one and the three year time periods ended June 2012.
• There was a slight consolidation in the portfolio with the share of banks rising to 18 per cent by the end of February 2013. Petroleum products, Pharma and software were some of the other leading sectors in the portfolio. ICICI Bank was now the top individual holding though the share of this was less than 8 per cent in the portfolio. Reliance Industries, HDFC bank, Bharti Airtel, HDFC, ITC and Infosys were some other leading stocks in the portfolio. The portfolio turnover ratio remained above 200 per cent. The fund was an underperformer over the one year period but an outperformer over the three year period ended December 2012
• Six month later banks still remained the top sector but the share here was a massive 25 per cent. Software, petroleum products and consumer non durables were some of the other leading sectors in the portfolio. Reliance Industries was once again the top holding in the fund with Infosys, ICICI bank, ITC, HDFC Bank, Bharti Airtel and HCL Tech being some of the other top names in the portfolio. The portfolio turnover ratio had dropped below 150 per cent and the fund was an outperformer over the one year time period and virtually similar to the benchmark over the three year one ended June 2013
• By the end of January 2014 banks was still the top sector though software was just marginally behind. Auto, consumer non durables and Pharma were some other top sectors. Infosys was the top individual holding with a share of nearly 10 per cent in the portfolio. ITC, HDFC Bank, TCS, ICICI Bank, Reliance Industries, HDFC and Bharti Airtel were some leading stocks in the portfolio. The funds turnover ratio had climbed again and it was an underperformer over the one and three year time periods ended December 2013 
• The fund has a good track record but it has seen its performance slip in recent times and investors can wait for some time to see whether there is an improvement on this front before making any investment.

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