101853  |  INF903J01538  |  3 star  |  Neutral


$ 104.42

1-Day Total Return

INR | NAV as of 12/15/2017 10:30:00 AM | 1-Day Return as of 15 Dec 2017

TTM Yield




Total Assets

23.9 bil



Fee Level






Min. Inv.


30-Day SEC Yield



ELSS (Tax Savings)

Investment Style

Large Growth
Morningstar's Take | 05/04/2017
by Kavitha Krishnan

Despite the presence of an experienced and capable manager at the helm, we’d like to see the investment team stabilise before we build more conviction on the fund.

S. Krishnakumar is the CIO of equities at Sundaram and is a capable fund manager with over 20 years of experience in portfolio management, 13 years of which has been with Sundaram. He is a mid-cap specialist and is responsible for managing the fund house’s small/mid-cap strategies. He is a skilled manager in our opinion and his long tenure and experience at Sundaram are a positive.

Although the investment team is quite experienced, they recently underwent a restructuring process, with managers being assigned roles that reflect their areas of strength. While Rahul Baijal manages the AMC’s large-cap strategies, Shiv Chanani now manages flexi-cap strategies and Krishnakumar manages the fund's small- and mid-cap mandates in addition to his role as the CIO of equities. We think that the restructuring will yield positive results over the long term. However, we would like to evaluate the impact of these changes over a longer term before we build more conviction on the team.

The fund’s investment strategy has remained flexible, moving across market capitalisations. Its current exposure to mid-cap stocks in the portfolio ranges between 35% and 40%. However, this can change significantly based on its investment avenues. The fund is currently run with a slightly concentrated approach at a sector level with the manager deviating significantly from the index weightings.

This strategy has its own share of risks, and wrong sector calls by the fund manager can lead to substantial underperformance compared with its peers. While we have a positive view on the manager, we want to adapt a wait-and-watch approach until the team stabilises.

Morningstar Analyst Rating™
Analyst Rating
Portfolio Role

A multicap strategy that can tend to vary its exposure across market caps.


A capable leader at the helm, yet the recent internal restructuring restricts our conviction level.


The AMC has been working towards making positive changes.


A well-defined process aimed at constructing a growth-oriented portfolio of high-conviction ideas.


The fund performed has posted positive returns under Krishnakumar’s leadership.


The fund’s price is higher than that of a typical peer in the India ELSS category.

Important Disclosures

Unless stated otherwise, this report was prepared by the person(s) noted in their capacity as Manager Research Analysts (i.e., fund analysts) employed by Morningstar, Inc., or one of its affiliates. It has not been made available to the issuer prior to publication.

Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Manager Research Analysts’ expectations about future events and therefore involve unknown risks and uncertainties that may cause such expectations not to occur or to differ significantly from what was expected. Analyst Ratings are not guarantees nor should they be viewed as an assessment of a fund’s or the fund’s underlying securities’ creditworthiness.

No material interests are held by Morningstar or the Manager Research Analyst in the financial products that are the subject of the research reports or the product issuer. Regarding Morningstar’s conflicts of interest: 1) Manager Research Analysts’ compensation is derived from Morningstar’s overall earnings and consists of salary, bonus and in some cases restricted stock; however, Manager Research Analysts are neither allowed to participate directly or try to influence Morningstar’s investment management group’s business arrangements nor allow employees from the investment management group to participate or influence the analysis or opinion prepared by them. Further information on Morningstar’s Code of Ethics policies is available from http://corporate.morningstar.com/us/asp/subject.aspx?xmlfile=540.xml

Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. The information contained herein is not represented or warranted to be accurate, correct, complete, or timely. This report is for information purposes only, and should not be considered a solicitation to buy or sell any security. Redistribution is prohibited without written permission.

For Recipients in India: Research on securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (“Investment Research”) is prepared by Morningstar Investment Adviser India Private Limited, which is registered with the Securities and Exchange Board of India. Your access to the Investment Research does not establish an advisory relationship with Morningstar Investment Adviser India. You should seek the advice of a financial professional before making an investment decision to ensure, among other things, that the security is suitable based on your particular needs and circumstances.

For Registered users only indicates the feature is available for Registered users only.
Mutual Fund Tools