103174  |  INF209K01BR9  |  5 star  |  Silver


$ 218.50

1-Day Total Return

INR | NAV as of 18/12/2017 10:30:00 | 1-Day Return as of 18 Dec 2017

TTM Yield




Total Assets

199.4 bil



Fee Level






Min. Inv.


30-Day SEC Yield




Investment Style

Large Growth
Morningstar's Take | 25/12/2016
by Kavitha Krishnan

A skilled manager and his well-executed investment approach make this fund a compelling choice for investors.

Manager Mahesh Patil is evidently mindful of the benchmark S&P BSE 200 Index while investing. For instance, he invests largely in stocks chosen from the index. Also, he loosely aligns the portfolio’s sector weightings with those of the index. But that has not resulted in a benchmarklike showing. Under his watch (November 2005-November 2016), the fund (17.22% annualised) has bested 96% of its peers. Year on year, too, Patil has ensured that the fund has delivered consistent returns.

Its success can be attributed in no small measure to Patil’s deftly implemented investment approach. His stock-picking has been impressive. A growth bias is apparent as Patil focuses on factors such as ROCE, ROE, and earnings growth potential. Despite the benchmark-awareness, Patil is no closet indexer, as he is willing to deviate substantially from index weightings in individual holdings.

Patil has also used his understanding of market movements and stock price points skilfully. Tactical plays and a buy/sell pattern within long-held holdings are integral to the approach. But some caveats are in order. In an upturn that is not broad-based--in other words, when some sectors gain significantly more than others--the benchmark-consciousness may cause the fund to underperform peers that invest in an unconstrained manner. Also, tactical plays add an element of timing risk.

Then again, evidently Patil is at ease with the investment approach. He has plied it with skill across market conditions, and we draw extra comfort from his stock-picking prowess. Our confidence in the fund’s ability to deliver pleasing results over a market cycle has grown, and we reiterate our Morningstar Analyst Rating of Silver.

Morningstar Analyst Rating™
Analyst Rating
Portfolio Role

The manager uses his qualitative overlay effectively despite keeping within the fund’s stated limits.


Mahesh Patil is a skilled and experienced manager. His long tenure at the helm is a positive.


We think Birla Sun Life AMC has been witnessing a lot of traction and stands out in many aspects.


Plying a benchmark-aligned process, the manager scouts for companies with good growth prospects.


The fund has delivered a solid showing on the risk/return front over the long haul.


The fund’s price is lower than that of the median offering from the 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.

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