100080  |  INF740K01011  |  3 star  |  Neutral


$ 65.16

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

25.0 bil



Fee Level






Min. Inv.


30-Day SEC Yield




Investment Style

Large Growth
Morningstar's Take | 27/12/2016
by Himanshu Srivastava

The fund saw two manager changes since Apoorva Shah relinquished his management responsibilities in July 2015. After him, the fund was jointly managed by Harish Zaveri and Vinit Sambre for a short while before finally landing in the hands of new manager Atul Bhole in June 2016. He joined DSP BlackRock’s equity investment team from Tata Mutual Fund in May 2016. Bhole comes from a research background and has four years of portfolio management experience in his stint with Tata. Most of the funds managed by him had a decent track record.

Pleasingly, the fund’s broader investment strategy of managing it with a flexicap approach remains unchanged. However, Bhole has a different style of investing than his predecessor Shah. Shah used to combine his in-depth understanding of companies with factors like market sentiment, news flows, and momentum while making investments, which used to result in high portfolio turnover for the fund. Bhole, on the other hand, prefers a buy-and-hold approach. Broadly, the process is simple, straightforward, and not really distinctive in nature. Hence the success of the fund would largely depend on Bhole’s execution capabilities. On that front, he is yet to make his mark on the fund. Also, the fund was a part of the large-cap Morningstar Category earlier, and its higher-than-average exposure to mid-/small-cap stocks used to provide it an edge over peers. However, it is now part of the flexicap category where it is competing with similar offerings.

Under Shah, the fund earned a Morningstar Analyst Rating of Gold based on our conviction in his management skills and execution capabilities within the large-cap category. But these are yet early days for Bhole as the lead manager on this fund. While he shows promise, we have yet to build the level of conviction in him which is required to assign a positive rating to the fund. In the light of that, we are downgrading the fund’s rating to Neutral from Gold, until we gain more conviction in Bhole’s investment skills, execution capabilities, and ability to deliver outperformance within the flexicap category over the long term.

Morningstar Analyst Rating™
Analyst Rating
Portfolio Role

Large-cap stocks generally dominate the portfolio.


These are yet early days for Bhole as a lead manager on this fund.


We believe DSP BlackRock ranks among the best asset managers in the country.


Growth-oriented investment approach.


The fund is yet to build a long-term performance track record under Bhole.


The fund’s expense ratio is lower than the median of the India flexicap category.

Important Disclosures

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