Post on 03-Apr-2018
7/28/2019 Birla Sun Life Frontline Equity
1/7
Analyse 3 fund of bsli on the basis ofbenchmark against return of last three
year &compare with hdfc std.life
Birla Sun Life Frontline EquityOn the front line for over a decade
Birla Sun Life Frontline Equityis among the handful of equity funds with over a
decades track record. While quite a few funds with such a record have fallen by
the way side, this fund managed to chug along well, keeping itself in the topquartile of the performance chart.
This large-cap focused fund delivered 15% annually in the last 5 years,
convincingly beating its benchmark S&P BSE 200 by a good 6 percentage points.
Suitability
Birla Sun Life Frontline Equityis suitable for an investors core portfolio. That
said, if your priority is to minimize volatility in your portfolio, then another more
established player Franklin India Bluechip, must be your first choice.The standard deviation, or a funds deviation from its mean returns, is higher
forBirla Sun Life Frontline Equitythan for Franklin India Bluechip, suggesting that
it is relatively more volatile. But this feature also makes the Birla fund an ideal
candidate for investing through SIPs as it averages rupee costs well when its
NAV falls and gains. Its 5-year SIP return is superior to that of Franklin India
Bluechip for this reason.
Performance
http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=4477/28/2019 Birla Sun Life Frontline Equity
2/7
Birla Sun Life Frontline Equitybeat
its benchmark 88% of the times on a rolling one-year return basis since itsinception in late 2002. While that is a good show, it ramped up performance in
the last 3 years, when it did not once underperform its benchmark, even as
returns were similarly rolled. Clearly, the fund has, in recent years, been trying to
demonstrate better consistency in performance.
In terms of its risk profile, the fund is somewhat closer to HDFC Top 200,
although the latter may have marginally higher exposure to mid-caps than the
former. Both the funds also share a common benchmark.
Given that its benchmark BSE 200 is a tough index to beat (considering thatBirla
Sun Life Frontline Equityinvests predominantly in large-cap stocks), especially in
a rallying market, the fund has mostly beaten its benchmark in years of up market
only by 2-3 percentage points.
But it improved on this score in 2012, beating the benchmark by a convincing 5
percentage points. Overall, it adequately made up for this marginal
outperformance by containing declines well in market falls such as the ones in
2008 and 2011. It fell 5-7 percentage points lower than the benchmark in thoseyears.
Portfolio
http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447https://www.fundsindia.com/content/jsp/registration/login.jsphttp://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=4477/28/2019 Birla Sun Life Frontline Equity
3/7
Birla Sun Life
Frontline Equitycontained declines well, but mostly by holding a higher position
in cash and debt. For instance, in the market low of March 2009, which was when
the turnaround started, the fund held as low as 73% in equities, in contrast to the
over 90% held by Franklin India Bluechip. Similarly, in end-2011, when markets
received a beating that year, the fund held about 91% in equities, even as bold
ones likes HDFC Top 200, went all out with an almost full equity exposure.
But thus far, the fund has not paid much of a price for this approach as the
returns tend to normalize over a longer term.
Birla Sun Life Frontline Equityreduced exposure to consumer-oriented sectors
such as automobile and auto ancillaries between December 2012 and June
2013. This may have helped to some extent as these sectors took a beating in
the market fall year to date.
It is also among the few funds that managed to stay away from negative turf on a
year-to-date basis.
The fund marginally reduced exposure to banking and finance space in the wake
of rate uncertainties and upped exposure to FMCG and pharma. Holdings in IT
remained about the same.
The fund also appeared to fancy the energy space and held stocks such as
Alstom, Power Grid Corporation of India, Cairn India and Oil India. While
exposure to infrastructure and capital goods stocks was not high, it held quite a
few stocks (with less than 0.5% holding) such as Adani Ports, IL&FS
Transportation Networks and Jindal Steel & Power from these spaces.
http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447https://www.fundsindia.com/content/jsp/registration/login.jsphttp://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=447http://www.fundsindia.com/products/mutual-fund/scheme/Birla-SL-Frontline-Equity-Fund-G-?c=4477/28/2019 Birla Sun Life Frontline Equity
4/7
Birla Sun Life Frontline Equity Fund (G)Returns (NAV as on Jul-19-2013)
Period Returns (%) Rank #
1 mth 4.4 102
3 mth 1.6 92
6 mth -2.7 61
1 year 18.7 8
2 year 6.3 13
3 year 5.7 12
7/28/2019 Birla Sun Life Frontline Equity
5/7
5 year 13.0 6
# Moneycontrol Rank within 151Large Cap Schemes.
Absolute Returns (in %)
Year Qtr 1 Qtr 2 Qtr 3 Qtr 4 Annual
2013 -5.6 - - - -
2012 13.9 0.5 9.8 6.9 36.2
2011 -5.5 -1.6 -11.0 -5.7 -23.3
2010 0.2 1.6 13.9 -0.4 17.5
2009 -3.4 48.7 18.2 6.6 86.2
2008 -25.0 -13.7 1.2 -19.9 -49.0
View where it stands within its peers
Fund returns v/s Category average (Large Cap)
* Returns over 1 year are Annualised1 mth (%) 3 mth (%) 6 mth (%) 1 yr (%) 2 yr (%) 3 yr (%) 5yr (%)
Fund Returns 4.4 1.6 -2.7 18.7 6.3 5.7 13.0
Category avg 4.7 1.8 -3.2 6.5 1.6 1.5 3.2
Difference of Fundreturns and
Category returns
-0.3 -0.2 0.5 12.2 4.7 4.2 9.8
Best of category 7.1 6.1 4.4 23.3 9.2 9.3 16.4
Worst of category -0.2 -6.1 -12.7 2.7 -5.7 -10.2 -13.6
Benchmark returns
#
2.4 2.0 -3.7 12.7 1.7 1.6 7.5
Difference of Fund
returns and
Benchmark returns
2.0 -0.4 1.0 6.0 4.6 4.1 5.5
http://www.moneycontrol.com/mutual-funds/performance-tracker/returns/large-cap.htmlhttp://www.moneycontrol.com/mutual-funds/performance-tracker/returns/large-cap.htmlhttp://www.moneycontrol.com/mutual-funds/performance-tracker/returns/large-cap.htmlhttp://www.moneycontrol.com/mutual-funds/performance-tracker/returns/large-cap.htmlhttp://www.moneycontrol.com/mutual-funds/performance-tracker/returns/large-cap.htmlhttp://www.moneycontrol.com/mutual-funds/performance-tracker/returns/large-cap.htmlhttp://www.moneycontrol.com/mutual-funds/performance-tracker/returns/large-cap.htmlhttp://www.moneycontrol.com/mutual-funds/performance-tracker/returns/large-cap.htmlhttp://www.moneycontrol.com/mutual-funds/performance-tracker/returns/large-cap.htmlhttp://www.moneycontrol.com/mutual-funds/performance-tracker/returns/large-cap.html7/28/2019 Birla Sun Life Frontline Equity
6/7
Investment ObjectiveAn open-ended growth scheme with the objective of long term growth of capital, through a
portfolio with a target allocation of 100% equity by aiming at being as diversified across
various industries and or sectors as its chosen benchmark index, BSE 200.Scheme details
Fund Type Open-Ended
Investment Plan Growth
Launch date Aug 30, 2002
Benchmark S&P BSE 200
Asset Size (Rs cr) 3,034.98 (Mar-30-2013)
Minimum Investment Rs.5000
Last Dividend N.A.View Dividend History
Bonus N.A.
Fund Manager Mahesh Patil
View performance of schemes managed by the Fund Manager
Notes AllIndian schemes of Alliance Capital Mutual Fund have been
acquired by Birla Sun Life AMC with effect from the close of
business hours on September 23, 2005.
Load Details
Entry Load N.A
Exit Load 1.00%
Load Comments Exit Load of 1% if redeemed within 365 Days from the date of allotment.
Contact Details
Regd. Office Ahura Centre, Mahakali Caves Road, MIDC, Andheri(E), Mumbai, 400093
Tel. No. 91 22 66928000, 91 22 66928001
Fax No. 91 22 66928110
http://www.moneycontrol.com/mf/mfipo/otherschemes.php?manager=Mahesh%20Patilhttp://www.moneycontrol.com/mf/mfipo/otherschemes.php?manager=Mahesh%20Patilhttp://www.moneycontrol.com/mf/mfipo/otherschemes.php?manager=Mahesh%20Patil7/28/2019 Birla Sun Life Frontline Equity
7/7
Email connect@birlasunlife.com
Website http://www.birlasunlife.com
Birla Sun Life Frontline Equity Fund (G) - Performance Snapshot ason Jul 19, 2013Period
Absolute Returns(%)
AnnualisedReturns (%)
Performance Rank #(within fund classes)
1 week -1.2 ** 129
1 month 4.4 ** 102
3 months 1.6 ** 92
6 months -2.7 ** 61
1 year 18.7 18.7 8
2 years 13.1 6.3 13
3 years 18.2 5.7 12
5 years 84.3 13.0 6
** Annualised returns displayed only for 1 year and above# Total No. of Large Cap : 151
Absolute Returns: 18.1%*
mailto:connect@birlasunlife.commailto:connect@birlasunlife.comhttp://www.birlasunlife.com/http://www.birlasunlife.com/http://www.birlasunlife.com/mailto:connect@birlasunlife.com