Observation on Kotak AMC Choice of Themes, Sectors and Asset Allocation- Kotak Multi Asset Allocator FOF
# Maintaining nearly 54% allocation in Domestic Equities and nearly 6.50% in Foreign Equities ; 23% in Debt and 15% in Gold.
# In The Debt Space it is a majorly a call on Duration with medium to long term Debt- Kotak Bond Fund ( 6.48 of Duration) and Gilt through Kotak Gilt Fund (11.05 yrs of Duration) . The split is almost equal in Dynamic category and Gilts.
# There has been an overall increase in Equity Exposure with previous gross equity exposure being at 52% and this month disclosure shows equity exposure of 54.50% approx.
Equity addition has been in Nifty Bank and fund managers are looking at it for addition on the back of comfort in valuation.
Observation on Nippon India AMC Choice of Themes, Sectors and Asset Allocation- Nippon India Asset Allocator FOF
# Maintaining nearly 52.6% in Equity, 20% in Gold and 27% in Debt.
# Fund manager has lopsided call on duration with Gsec constituting nearly 90%of debt exposure and very little short term debt exposure of nearly 10%.
# On the asset class front what is being observed over a span of last few months- equities exposure in small cap especially is being cut aggressively and from last year April exposure of 13.50% – it presently stand at sub 9%
# Fund house does not maintain any foreign equities exposure in this strategy and is overweight on Gold vis a vis Kotak ‘s strategy.
Observation on ICICI PRU AMC Choice of Themes, Sectors and Asset Allocation- ICICI Pru Thematic Advantage FOF
# Preference for Banking and Financial Services over any other sector with sectoral exposure being running in excess of 36%
# On the debt side preference is on ultra short term side and not on duration.
Backdrop to Methodology
This section deals with understanding how India’s Top Fund Managers and Fund houses are navigating the investment landscape through their flagship investing strategies- which have a mandate of go anywhere
- Kotak Multi Asset Allocator FOF
- Nippon india Asset Allocator FOF
- ICICI Pru Thematic Advantage FOF
I believe actions speak louder than words. The real insights about market trends, macro situations, sectoral preference lies in observing what calls they are taking in regards to asset allocation, asset class choice, sectoral preference, weights adjustments etc.This section helps our investors to ascertain and understand these insights.
This is truly not a recommendation to buy or sell any particular fund or sector or theme- but is to be used as an observation tool to gain insight of how the professional fund managers are positioning themselves in the market. Also, the subtle difference in position of different fund houses, their preferences and positioning.
We observe the execution of top three to four Fund houses about changes made in portfolios on asset classes choice, asset allocation weights , sector choice, themes choice hinting towards optimum level of equity, debt and gold. I also try to observe the re-balancing and sector rotation executed by these fund houses in their Go anywhere strategies in order to generate capital appreciation in the optimum way.
Also note that these observations are based on the latest available data as disclosed by Fund Houses in their monthly fact-sheets and are public information
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