Reliance RSF shifted to Large Cap

[rajivnc]

http://www.valueresearchonline.com/funds/portfoliovr.asp?schemecode=2790

As per VRO Reliance RSF seems to be shifted from Multi Cap Category to Large Cap Category. Does this affect the fund performance ?

 

[rajivnc]

Reliance RSF is now just 3 star rated as per Moneycontrol.com.
and 4 star rated as per Value Research Online.

Does this indicate that its high time to stop SIPs in Reliance RSF and switch to another 5 Start rated multi cap fund ?

 

[asterix24]

I presume you are talking about Reliance RSF - Equity. Personally, I do rate VROL ratings highly. However, if you want to invest into a better multi-cap fund, I would advise you to look at HDFC Equity which has been one of the more consistent performers.

Happy Investing !!

 

[yodlee99]

The whole notion of being a multi-cap is that it gives a free hand to the fund manager to move holdings across caps. This is also be called as dynamic caps.
Until sometime ago, Rel RSF had larger mid & small cap holdings. Of late, it has more of giant and large cap holdings.
http://www.valueresearchonline.com/funds/fundanalysis.asp?schemecode=2790
This is subjected to change with time, sometimes even on a day to day basis. I would not get alarmed with it and rather focus on the results. I would rather laugh my way to the bank than think whether it is from redeeming stocks from a mid cap or a large cap company.
Hope that helps.

 

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[xxdiesel]

The whole notion of being a multi-cap is that it gives a free hand to the fund manager to move holdings across caps. This is also be called as dynamic caps.
Until sometime ago, Rel RSF had larger mid & small cap holdings. Of late, it has more of giant and large cap holdings.
http://www.valueresearchonline.com/funds/fundanalysis.asp?schemecode=2790
This is subjected to change with time, sometimes even on a day to day basis. I would not get alarmed with it and rather focus on the results. I would rather laugh my way to the bank than think whether it is from redeeming stocks from a mid cap or a large cap company.
Hope that helps.

I agree. Having said that, one needs to be aware of the overall AMC style. If you study all reliance Equity offerings, you would understand that the whole AMC believes in active churning. They do not have a single offering in the Large Cap space that is 5 star rated. They also have trouble staying within the defined allocation across their various funds. the views expressed are purely based on my research.

 

[asterix24]

I am bit confused now. When I checked VROL, it still says it's a multi-cap fund. When I analyze the funds current portfolio as on 31-12-2010, I observed that the portfolio is far more diversified across market caps than some of it's peers.

As an example, I have compared this with HDFC Equity (one of my recommendations) in terms of investment across multiple market capitalizations as below

Cap RRSF HDFC EQ
Giant 33.55 44.72
Large 17.65 19.52
Mid 41.38 27.99
Small 7.42 4.55


From this it is apparent that RRSF is far more distributed as compared to HDFC Equity. What would be the reasoning behind moving this MF into Large Cap category? Any thoughts or analysis?

Happy Investing !!

 

[xxdiesel]

I am bit confused now. When I checked VROL, it still says it's a multi-cap fund. When I analyze the funds current portfolio as on 31-12-2010, I observed that the portfolio is far more diversified across market caps than some of it's peers.

As an example, I have compared this with HDFC Equity (one of my recommendations) in terms of investment across multiple market capitalizations as below

Cap RRSF HDFC EQ
Giant 33.55 44.72
Large 17.65 19.52
Mid 41.38 27.99
Small 7.42 4.55


From this it is apparent that RRSF is far more distributed as compared to HDFC Equity. What would be the reasoning behind moving this MF into Large Cap category? Any thoughts or analysis?

Happy Investing !!

I think its based on the average cap allocation over last 3 years. Not sure though.

 

[yodlee99]

Various fund houses approach investments from different angles and hence would come to a different conclusion in their approach. Even if you consider a particular fund, it is never going to stay the same with time. Differences are based on opinions of fund manager and the research teams backing them and is difficult to predict even for a seasoned broker.