ICICI Prudential AMC bags most awards

Mar 15, 2017
With four nominations and three awards, the AMC did well at the Morningstar India Fund Awards, 2017.
 

Intermediate Bond

Winner:

ICICI Prudential Long Term Plan: Despite having a relatively short track record of about 7 years, this fund has been posting a consistent top quartile performance over the past few years. This 5-star fund is managed by Manish Banthia.

Nominees:

  1. BNP Paribas Flexi Debt
  2. ICICI Prudential Long Term Plan
  3. UTI Dynamic Bond

Short Term Bond

Winner:

Birla Sun Life Short Term: This is one of the largest funds in the short-term bond category and has done consistently well. This fund has been rated Silver by our analyst.

Nominees:

  1. Birla Sun Life Short Term Opportunities
  2. Birla Sun Life Short Term
  3. ICICI Prudential Banking & PSU Debt

Equity: Large Cap

Winner:

SBI Bluechip: The fund has witnessed a turnaround over the last 5-6 years and has been doing extremely well. The fund manager is Sohini Andani. The fund is rated Bronze by our analyst.

Nominees:

  1. Kotak Select Focus
  2. Mirae Asset India Opportunities
  3. SBI Bluechip

Equity: Mid and Small Cap

Winner:

Mirae Asset Emerging Bluechip: This fund has carved out a niche for itself and has been steadily gaining recognition over the years. It is managed by Neelesh Surana and currently has a 5-star rating.

Nominees:

  1. DSP BlackRock Micro Cap
  2. Franklin India Smaller Companies
  3. Mirae Asset Emerging Bluechip

Best Fund House - Debt

Winner: UTI AMC

Nominees:

  1. Birla Sun Life AMC
  2. SBI AMC
  3. UTI AMC

Best Fund House - Equity

Winner: ICICI Prudential AMC

Nominees:

  1. Birla Sun Life AMC
  2. ICICI Prudential AMC
  3. L&T Finance AMC

Best Fund House - Multi-Asset

Winner: ICICI Prudential AMC

Nominees:

  1. Birla Sun Life AMC
  2. ICICI Prudential AMC
  3. L&T Finance AMC

Winners over the past years: 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016

Add a Comment
Please login or register to post a comment.
Larissa Fernand
Mar 30 2017 01:20 PM 		No Dhaval,
Morningstar does not go by the fund name to arrive at categorization. We have addressed all your queries in the link below.

Amit,
In response to your statement that the answer was not accurate - here is how we look at market cap and subsequent categorisation of funds.

http://www.morningstar.in/posts/40307/how-we-categorize-our-funds.aspx
Dhawal Parikh
Mar 30 2017 08:34 AM 		In response to query from Amit Arora:
I think Morning Star uses the name as basis for classifying funds. HDFC Infrastructure and DSP Tiger have for many years (and even now) invested 30-35% in bank and financial stocks. They even have technology stocks. But still Morning Star calls them Infrastructure funds. Same case with “Emerging Bluechip”, so it is Mid Cap fund.
Basically, they simply go by the name.
Amit Arora
Mar 27 2017 12:34 PM 		Thank you for your response .. Unfortunately it is not accurate.
The total number of listed Companies in India that have a Market Cap > USD 1 Billion is 299.
The Feb 2017 portfolio of the fund has 60 positions.More than 50% ..about 32 have a Market Cap > USD 1 Billion. These 32 positions make up more than 60% of the total portfolio value.
The investment objective of the Fund states :
Investment Objective To generate income and capital appreciation from a diversified portfolio predominantly investing in Indian equities and equity related securities of companies which are not part of the top 100 stocks by market capitalization and have market capitalization of at least 100 Crores at the time of investment. The Scheme does not guarantee or assure any returns

There happen to be 11 stocks that are part of the Top 100 by Market Cap in the February 2017 portfolio !

The Fund does not claim to be Small/Mid Cap ..though the name is misleading.
Surprising that Morningstar categorises it as such.


There are
Larissa Fernand
Mar 27 2017 05:58 AM 		Dear Amit,
Funds that invest at least 65% of their total assets in small and midcap stocks (defined as stocks that are from the bottom 30% of market capitalization) are classified under the Small and Mid Cap category.
Mirae Asset Emerging Bluechip fund meets this threshold despite holding a few large-cap stocks among their top 10 holdings and is, therefore, classified as a small and mid-cap strategy.
Editor
Morningstar India
Amit Arora
Mar 23 2017 06:08 PM 		And the winner is ...

So, Mirae Asset Emerging Bluechip Fund gets the award in  the Small/Mid-cap Equity category.
Just pointing out that the top 10 holdings include 2 Banks with a market cap of about USD 25 Billion and another Bank with a market cap of USD 12.70 Billion and Ordinary that was established in 1907 only 110 years ago ..market cap in excess of USD 7 Billion.

If liquid funds should not be investing in Corporate paper how come Morningstar considers investment in these Companies as Small Cap / Mid-cap strategy.

Just saying ..

Regards,

Amit Arora
<< First < Previous 1 Next > Last >> 
Recent from this Author
18 rules for ageing well
Why I’m Reimagining my Retirement
Avoid diversification at your peril
Risks of investing in PPF
Remembering Charlie Munger
Related Articles
Winners of 2024 Morningstar Awards for Investing Excellence
Nominees for Morningstar Fund Awards 2024
The 16th Edition of Morningstar Fund Awards is here!
7 winners of 2023 Morningstar India Fund Awards
Morningstar Fund Awards: Nominees for Best Fund House and Best Funds
STOCKS
MUTUAL FUNDS
ADITYABIRLAAXISBajajBANDHANBARODABNPBOICANARADSPEDELWEISSFRANKLINTEMPLETONHDFCHELIOSHSBCICICIIIFLINDIABULLSINVESCOITIJMKOTAKLICMahindraManulifeMIRAEMOTILALNAVINipponNJOldBridgePGIMPPFASQUANTQUANTUMSAMCOSBISHRIRAMSUNDARAMTATATAURUSTrustUNIONUTIWhiteOakZERODHA
INSURANCE FUNDS
ABSLAEGONAGEASFEDERALAVIVABAJAJALLIANZBHARTIAXACANARAHSBCORIENTBANKEDELWEISSTOKIOEXIDEFUTUREGENERALIHDFCICICIPRUDENTIALINDIAFIRSTKOTAKMAHINDRALICMAXLIFEPNBMETLIFEPRAMERICARELIANCENIPPONSAHARASBISHRIRAMSTARUNIONDAI-ICHITATAAIA

About Us

Connect With Us

© Copyright 2024 Morningstar, Inc. All rights reserved.
Terms of Use    Privacy Policy
© Copyright 2024 Morningstar, Inc. All rights reserved. Please read our Terms of Use above. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
As of December 1st, 2023, the ESG-related information, methodologies, tools, ratings, data and opinions contained or reflected herein are not directed to or intended for use or distribution to India-based clients or users and their distribution to Indian resident individuals or entities is not permitted, and Morningstar/Sustainalytics accepts no responsibility or liability whatsoever for the actions of third parties in this respect.
Company: Morningstar India Private Limited; Regd. Office: 9th floor, Platinum Technopark, Plot No. 17/18, Sector 30A, Vashi, Navi Mumbai – 400705, Maharashtra, India; CIN: U72300MH2004PTC245103; Telephone No.: +91-22-61217100; Fax No.: +91-22-61217200; Contact: Morningstar India Help Desk (e-mail: helpdesk.in@morningstar.com) in case of queries or grievances.
Top