AMFI-Registered Mutual Fund Distributor

FundsIndia
Select Funds
Half Yearly Update - Aug 2024
 Fundsindia Select Funds Aug 2024

Changes to Existing Select Funds List

FundsIndia Select Equity Funds - 5 Finger Framework

Equity Funds

Domestic Global

1. Quality 2. Value / Contra 3. Blend 4. Mid / Small Cap 5. Momentum

• UTI Flexi Cap Fund • Parag Parikh Flexi Cap Fund 360 ONE Quant Fund
• DSP Quant Fund • Mirae Asset Large & Midcap Fund
• Kotak Equity Opportunities Fund
• HDFC Flexi Cap Fund • Motilal Oswal Nasdaq 100 FOF
• ICICI Prudential Value Discovery
• Canara Robeco Emerging Equities • Motilal Oswal S&P 500 Index Fund
Fund
Fund • Edelweiss Emerging Markets
• Bandhan Sterling Value Fund
Opportunities Equity Offshore Fund
Mid Cap
• Kotak Emerging Equity Fund
• DSP Midcap Fund
• Franklin India Prima Fund
• Axis Midcap Fund
Small Cap
Kotak Small Cap Fund

FundsIndia Select Equity Funds - Others

ELSS Index Dynamic Asset Allocation

• Mirae Asset ELSS Tax Saver Fund • ICICI Prudential Nifty 50 Index Fund • ICICI Prudential Balanced Advantage
• Parag Parikh ELSS Tax Saver Fund • UTI Nifty 50 Index Fund Fund
• Kotak Balanced Advantage Fund
• HDFC Index Fund-NIFTY 50 Plan
• ICICI Prudential Nifty Next 50 Index • Edelweiss Balanced Advantage Fund
Aggressive Hybrid
Fund

Mirae Asset Aggressive Hybrid Fund

 Fundsindia Select Funds Aug 2024

For US & Canada NRI Investors

1. Quality 2. Value 3. Blend 4. Mid / Small Cap 5. Index

UTI Flexicap Fund Nippon India Multi Cap Fund • UTI Nifty 50 Index Fund
• UTI Nifty Next 50 Index Fund

Nippon India Value Fund Nippon India Growth Fund

“5 Finger Framework” for Building Equity Portfolio

Value / Momentum/
Style Quality Mid / Small
Contrarian Global

20% 20% 20% 20% 20%

FundsIndia Select Debt Funds

DEBT FUNDS

Liquidity Core Alpha

Liquid Funds Equity Savings Funds

• Axis Liquid Fund • ICICI Prudential Equity Savings Fund
• ICICI Prudential Liquid Fund • Mirae Asset Equity Savings Fund
• Nippon India Liquid Fund

6M – 1Y Time Frame (95-100% AAA) Above 3Y Time Frame (95-100% AAA)

• Bandhan Low Duration Fund • Bandhan Corporate Bond Fund
• Kotak Money Market Fund • Axis Banking & PSU Debt Fund
• HDFC Money Market Fund • HDFC Corporate Bond Fund
• Aditya Birla Sun Life Floating Rate Fund • ICICI Prudential Corporate Bond Fund
• ICICI Prudential Money Market Fund • Kotak Corporate Bond Fund
6M – 1Y Time Frame (> 80% AAA) • Aditya Birla Sun Life Corporate Bond
• ICICI Prudential Savings Fund Fund
• Aditya Birla Sun Life Savings Fund* Above 3Y Time Frame (> 80% AAA)
• HDFC Short Term Debt Fund
Arbitrage Fund
• Kotak Equity Arbitrage Fund
• Edelweiss Arbitrage Fund

*The fund currently has AAA exposure between 70% to 80%. The Non-AAA exposure is invested in reputed companies such Murugappa Group,
Bharti Airtel Group, Tata Group etc. The fund has historically maintained an average exposure of 80-90% AAA exposure.
 Fundsindia Select Funds Aug 2024

Core-Alpha Strategy for Building Debt Portfolio

Debt Allocation as a
Fund Selection Number of Funds
% of Overall Portfolio

< 40% 100% from Core bucket 2 to 4 funds

60 - 100% from Core bucket 2 to 4 funds

> 40%
0 - 40% from Alpha bucket 1 to 2 funds

Detailed Rationale

WHAT’S IN?

Outperformance metrics 5Y

% of the times outperformed 64%

Average outperformance 0.4%

Source: FundsIndia research, MFI. Calculated on a rolling basis from Jan-16 to Jun-24
 Fundsindia Select Funds Aug 2024

Absolute Returns during Major Market Declines

Global Stock Market Selloff Covid-19 Market Crash

(03-Mar-15 to 25-Feb-16) (17-Jan-20 to 23-Mar-20)

-18%
-20%

UTI Flexi Cap Fund - Growth -32%

Nifty 500 TRI

-38%
Source: FundsIndia reearch. MFI

Characteristics of the Fund’s Strategy

Particulars 3Y 5Y 7Y 10Y

Portfolio Revenue growth (CAGR) 19% 18% 17% 17%

BSE 100 Index Revenue growth (CAGR) 15% 15% 13% 13%

Portfolio Operating Profit growth (CAGR) 18% 17% 18% 18%

BSE 100 Index operating profit growth (CAGR) 15% 14% 13% 13%

Portfolio Return on invested capital (ROIC) (Average)* 32% 31% 33% 33%

BSE 100 Index ROIC (Average)* 22% 21% 21% 23%

Portfolio Net Debt to Equity* (D/E) -0.11 -0.14 -0.15 -0.11

BSE 100 Index Net D/E * 0.47 0.39 0.37 0.35

* excluding Financial Services sector. The above data includes historical track record of the current portfolio holdings ; Companies for which long
term data is unavailable have not been considered for the relevant period and weights have been scaled up accordingly.
Source : Bloomberg, UTI AMC. Fundamental data as of 31st March, 2023 and Portfolio weights and BSE 100 Index weights as of 30 June 2024
 Fundsindia Select Funds Aug 2024

Date Jun-19 Jun-20 Jun-21 Jun-22 Jun-23 Jun-24

Portfolio Churn (%) 9 15 9 10 6 5

Source: Ace MF, FundsIndia research

Source: Bloomberg, UTI AMC. Data as of June 30, 2024

 Fundsindia Select Funds Aug 2024

Source: FundsIndia research, MFI. Updated till 30-Jun-24.

Source Bloomberg, UTI Research; Data as of 30-Jun-24, Quality Index : Nifty 200 Quality 30 TRI Index,
Value Index : Nifty 500 Value 50 TRI Index
 Fundsindia Select Funds Aug 2024

Outperformance vs Benchmark Nifty 500 TRI (%) as on 30-Jun-24

Scheme Name 6M 1Y 3Y 5Y 7Y

UTI Flexi Cap Fund - Growth -7.8 -18.3 -10.5 -3.5 -2.2

DSP Flexi Cap Fund - Reg - Growth -0.5 -1.4 -2.9 -0.2 -0.1

SBI Focused Equity Fund - Growth -1.6 -8.6 -4.2 -2.3 -0.4

PGIM India Flexi Cap Fund - Reg - Growth -4.2 -14.1 -6.3 0.3 -1.0

NIFTY 100 Quality 30 index TRI -3.9 -5.6 -2.2 -1.8 -1.0

Nifty 200 Quality 30 Index TRI -3.7 -3.9 -2.3 -0.9 0.5

Benchmark returns as on 30-Jun-24 (%)

Nifty 500 TRI 16.9 39.9 19.8 19.8 16.7
Source: FundsIndia research, MFI. As on 30-Jun-24

Source : Fundsindia research, MFI. Updated till 30-Jun-24

Source : Fundsindia research, MFI. Updated till 30-Jun-24

 Fundsindia Select Funds Aug 2024

Performance of the Fund strategy vs Nifty 500 TRI

Calendar 1 Year Max Annualised 3 Years

Date
Year underperformance forward outperformance

2010 -14% 06-Jan-10 3%

2012 -2% 04-Jan-13 9%

2014 -3% 04-Aug-14 4%

2016 -3% 20-Dec-16 3%

2017 -9% 23-May-17 6%

2019 -7% 22-Jul-19 2%

2022 -19% 30-Nov-22 -

2023 -18% 02-Jan-23 -

Source:UTI MF, MFI Explorer. Data as of June 30, 2024. The Strategy data considered is of Shinsei UTI India Fund given that the fund has
the longest track record. Fund Strategy returns are adjusted for 1.6% of expenses on annual basis

Point-to-Point Return (CAGR)

3M 6M 1Y 3Y 5Y 10Y
as on 30-Jun-24
UTI Flexi Cap Fund - Growth 11.5% 9.1% 21.5% 9.3% 16.3% 13.7%

Nifty 500 TRI 11.8% 16.9% 39.9% 19.8% 19.8% 15.3%

Outperformance (A-B) -0.3% -7.8% -18.3% -10.5% -3.5% -1.6%

Source: FundsIndia research, MFI.
 Fundsindia Select Funds Aug 2024

Summing it up

Date Jun-21 Jun-22 Jun-23 Jun-24

Portfolio Churn (%) 7 12 3 8

Source: Ace MF, FundsIndia research

 Fundsindia Select Funds Aug 2024

Point-to-Point Return (CAGR) Since inception

6M 1Y 3Y
as on 30-Jun-24 (24-Jul-19)
Parag Parikh ELSS Tax Saver Fund (A) 13.4% 32.3% 21.3% 23.8%

Nifty 500 TRI (B) 16.7% 38.7% 20.0% 21.2%

Outperformance (A-B) -3.4% -6.3% 1.3% 2.5%

Source: FundsIndia research, MFI.

FUNDS MOVED TO WATCHLIST

1. AXIS FOCUSED FUND

Rolling returns (Apr-2011 to Jan-2020) 3Y 5Y

Axis ELSS Tax Saver Fund (Erstwhile Axis Long Term Equity Fund) (A) 21.1% 20.2%

Nifty 500 TRI (B) 14.6% 14.0%

Outperformance (A) - (B) 6.5% 6.2%

Consistency of outperformance 80% 100%

Source: MFI, FundsIndia research. Calculations consider all 3-year and 5-year periods between Apr'11 - Jan'20 (Jinesh Gopani's tenure)
 Fundsindia Select Funds Aug 2024

Point-to-Point Return (CAGR) as on 31-Jan-20 Last 3Y Last 5Y

Axis Focused Fund (A) 17.6% 11.9%

Nifty 500 TRI (B) 11.5% 7.9%

Outperformance (A) - (B) 6.1% 4.0%

Company Sector
Jun-24 May-24 Apr-24 Mar-24 Feb-24 Jan-24 Dec-23 Nov-23 Oct-23 Sep-23 Aug-23 Jul-23 Jun-23 May-23
Name Name

Reliance
Energy 5.0 4.8 4.7 4.7 4.8 4.6 4.0 3.7 3.7 3.6 3.9 4.2 1.4 1.2
Industries Ltd

Prestige Estates
Realty 2.4 1.5 - - - - - - - - - - - -
Projects Ltd

State Bank Financial

2.3 2.2 1.5 1.3 1.4 - - - - - - - - -
Of India Services

Tata Motors Ltd Auto 1.7 1.9 2.0 1.9 0.6 0.5 0.5 - - - - - - -

DLF Ltd Realty - 1.8 3.6 3.5 3.7 3.2 2.8 0.4 0.4 0.4 0.3 0.3 - -

Jio Financial Financial

- - 0.9 1.5 1.4 1.1 1.0 1.0 1.0 1.0 1.0 0.5 - -
Services Ltd Services

Total 11.4 12.2 12.7 12.9 11.9 9.4 8.3 5.1 5.1 5.0 5.2 5.0 1.4 1.2

Source: MFI, FundsIndia research.

 Fundsindia Select Funds Aug 2024

2. AXIS ELSS TAX SAVER FUND

Company Sector
Jun-24 May-24 Apr-24 Mar-24 Feb-24 Jan-24 Dec-23 Nov-23 Oct-23 Sep-23 Aug-23 Jul-23 Jun-23 May-23
Name Name

Mahindra & Auto 3.1 2.9 2.5 2.2 2.3 2 2.4 2.3 2.2 2.3 2.3 1.8 2 1.6
Mahindra Ltd.

Reliance
Energy 2.1 2.0 1.5 1.3 1.1 1.1 - - - - - - - -
Industries Ltd.

Tata
Auto 1.7 2.0 2.7 2.7 2.6 2.8 2.9 2.7 2.6 2.5 2.4 1.6 1.1 0.8
Motors Ltd.

State Bank Financial

1.4 1.1 1.1 1 1.2 - - - - - - - - -
Of India Services

NTPC Ltd Power 0.7 0.6 0.6 0.5 0.4 - - - - - - - - -

Oil India Ltd. Energy 0.5 0.5 - - - - - - - - - - - -

SBI Life
Financial
Insurance 0.5 0.5 0.4 0.4 0.4 - - - - - - - - -
Services
Company Ltd.

Power Grid
Corporation Of Power 0.5 0.5 - - - - - - - - - - - -
India Ltd

REC Ltd. Power 0.5 0.3 - - - - - - - - - - - -

Jio Financial Financial

0.5 0.5 0.9 0.8 0.7 0.3 0.3 0.1 0.1 0.1 0.1 - - -
Services Ltd Services

Bharat
Petroleum Energy 0.4 0.5 0.5 0.5 0.2 - - - - - - - - -
Corporation Ltd

Total 12.0 11.3 10.2 9.4 8.9 6.2 5.6 5.1 4.9 4.9 4.8 3.4 3.1 2.4

Source: MFI, FundsIndia research.

3. PGIM India Emerging Markets Equity Fund (earlier recommended on Apr-21)

 Fundsindia Select Funds Aug 2024

Countrywise exposure of net assets (%)

Country Jan-21

China 47%

Taiwan 15%

India 14%

South Korea 8%

US 6%

Brazil 3%

Argentina 2%

Poland 1%

Thailand 1%

Total 97%
Source: PGIM India MF. As on Jan-21.

Point-to-Point Return (CAGR) as on 31-Dec-20 Last 1Y Last 2Y Last 3Y

PGIM Jennison Emerging Markets Equity Opportunities Fund (A) 72.9% 22.6% 20.5%

MSCI Emerging Markets Index (B) 18.3% 6.2% 12.8%

Outperformance (A) - (B) 54.6% 16.4% 7.7%

Source: PGIM AMC; Performance of the underlying fund (different share class) in USD
 Fundsindia Select Funds Aug 2024

Countrywise exposure of net assets (%)

Country Jun-24 May-24 Feb-24 Nov-23 Oct-23 Aug-23 May-23 Feb-23

India 34% 30% 29% 21% 21% 22% 21% 12%

Taiwan 24% 19% 23% 24% 23% 22% 25% 17%

China 19% 22% 12% 20% 18% 18% 18% 38%

Brazil 10% 11% 11% 11% 11% 11% 10% 5%

South Korea 5% 6% 7% 6% 8% 8% 9% 8%

Indonesia 3% 3% 6% 6% 6% 6% 6% 4%

US 3% 3% 5% 6% 5% 5% 5% 5%

Mexico 1% 2% 2% 1% 1% 1% - -

Thailand - 1% 1% 2% 2% 2% 2% 5%

Hong Kong - - 1% 2% 2% 2% 2% 3%

Singapore - - - - - - - 3%

Total 99% 99% 99% 99% 99% 99% 99% 99%

Source: PGIM Jennison.
Fundsindia Select Funds Aug 2024