Sundaram Select Focus Fund Objective:
To achieve capital appreciation in medium to long term by investing in equity and equity related instruments of select stocks.
Fund Features
• A concentrated large-cap fund.
• The fund would be investing in a MAXIMUM of 35 stocks across sectors with the objective to deliver consistent and steady returns over time with limited volatility.
• The fund would have >80% of the corpus invested in well managed and established large cap companies (Top 100 companies).
• The fund would follow a bottom up approach in stockpicking based on in- house research and fund managers conviction and would generally be focussed around 3-4 themes.
• The investing style would have GARP (Growth at Reasonable Price) bias.
PORTFOLIO CONSTRUCTION - HIGH CONVICTION THEMES
#1 Discretionary Consumption
•Structural attractiveness due to higher incomes, improving consumption patterns and rising market penetration
•Key OW Calls: Autos (Maruti), Consumer goods (Voltas, Whirlpool), Retail banking (HDFC Bank, Kotak Bank, IndusInd Bank)
#2 Domestic Cyclical Recovery
•The Indian economy is expected to witness revival in economic growth which will augur well for cyclical stocks
•Key OW Calls: Corporate lenders (ICICI Bank), Select Industrials (L&T, Cummins)
#3 Government Reforms
•Key OW Calls: Oil marketing companies (IOC, BPCL), Beneficiaries of govt spending (L&T, Cummins)
#4 Weak Outlook on Exporters
•Key UW Calls: Metals ( China demand, protectionism, currency ), Pharma (US generic pricing concerns)
Performance:
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