VIP Call Girls Service Dilsukhnagar Hyderabad Call +91-8250192130
DSP Equity Opportunities Fund
1. [Title to come]
[Sub-Title to come]
Strictly for IntendedRecipients Only
Date
* DSP India Fund is the Company incorporated in Mauritius,under which ILSF is the corresponding share class
Sep 2021
| People | Processes | Performance |
DSP Equity Opportunities Fund
#INVESTFORGOOD
2. 2
What is the DSP Equity Opportunities Fund?
LARGE &
MIDCAP
FUND
MANAGER SEEKS TO
INVEST IN THE BEST
OPPORTUNITIES IN
ESTABLISHED AND
EMERGING
COMPANIES
TOP DOWN +
BOTTOM-UP
APPROACH
Top down sector
allocationcombined
withbottom-up stock
selectionusedto
construct portfolios
BLEND OF STYLES
Manager combinesa
fundamental view
withevaluationof
growth prospects
and valuations
DIVERSIFIED
ACROSS SECTORS
AND MARKET CAPS
Mix of predominantly
large cap and mid cap
companiesacross
sectors
Diversified fund seeking investments across large and mid cap stocks
Source: Internal
3. 3
Why invest in the DSP Equity Opportunities Fund?
Seeksto investinthe
bestideas across
establishedand
emergingbusinessesto
provide a combinationof
growth and stability
Two decade long track
record of investing
substantial AUM across
market cycleswith
demonstratedalpha
generation
Manager uses a blendof
stylesand investsacross
the marketcap range.
Makes the portfolio
durable in the longterm
across cycles
DESIGNED FOR LONG
TERM ALLOCATIONS
DURABLE INVESTMENT
APPROACH ACROSS CYCLES
Suitable for the core equity allocation portion in an investment portfolio
CORE EQUITY
PORTFOLIO
ALLOCATION
AMONG THE LARGEST & OLDEST FUNDS
IN THE LARGE / MID CATEGORY
4. 4
Investment process – Research & Stock selection
TOP DOWN
SECTOR ANALYSIS
UNIVERSE ACROSS
LARGE & MIDCAP
STOCKS
BOTTOM – UP
SUB-SECTOR &
STOCK ANALYSIS
Blended analysis of growth drivers and valuation support to determine relative attractiveness
Growth
prospects
Valuation
metrics
Fundamental
attributes
Create whitelist
of primary
investment
candidates
ASSESSMENT OF OVERALL
SECTOR ATTRACTIVENESS
INDIVIDUAL SUB-SECTOR &
STOCK ATTRACTIVENESS
EVALUATION FRAMEWORK
5. 5
Investment process – Portfolio construction
Assessment of
entry and exit
ranges in
whitelistedstocks
Underweight/ Overweight
each sector drivenby
relative attractiveness
Selectsub-sectorswith
favorable prospects
withineach sector and
allocate to stocks in the
sub-sector
Diversified across styles and sectors to create a durableportfolio
~ 65 – 75%
Stocks with strong
fundamentals and
growth prospects
~ 25 - 35%
Potential for valuation
re-rating from business
turnarounds;
deep value names
FINAL PORTFOLIO
~ 60 – 65 names
Source: Internal
6. 6
Investment process – Risk management and Sell discipline
Continuous assessment of
stock performance v/s
fundamental changes
Stock hits its targetprice
although growth prospects
are favorable
Trade around the position
withperiodicprofit booking
Adverse changesin
assessmentof company’s
businessprospects
Exit the company and assess
alternative candidates
Hittingprice targets along with
assessmentof peakingin
valuations/ industrycycle
Exit the company and assess
alternative candidates
Constant monitoringof price targets and prospects for hold / sell decisions
7. 7
Investment team
Rohit Singhania–managing thefund sinceJune2015
• Rohit is the Fund Manager for DSPTax Saver Fund. He is also
the co-Fund ManagerforDSP India T.I.G.E.R fund* (The
InfrastructureGrowthand Economic Reforms), DSP Equity
Opportunities Fund* and DSP NaturalResources and New
EnergyFund *.
• Rohit joined DSPInvestment Managersin September 2005, as
Portfolio Analyst for the firm's Portfolio Management Services
(PMS) division and then transferred tothe Institutional
Equities Teamin June 2009. He focused on sectors like Auto,
Auto Ancillaries, Metals, Infrastructure, SugarandHotels.
FUND MANAGER*
* Jay Kothari -Dedicated Fund Manager for overseas investments. Years in brackets ( ) is years of experience.
Experienced investment team with a wide coverage of Indian equity markets
TEAM SUPPORTING THE FUND MANAGER
Chinmay Sapre (9)
AVP, Aviation, Realty
Abhishek Ghosh (12)
AVP, Small & Mid Caps,
Transportation
Kaushal Maroo (11)
AVP, Autos, Ancillaries,
Cement
Dhaval Gada (10)
AVP, Banking and
FinancialServices
Abhishek Rathi (13)
AVP, Financials &
Industrials for Long /
Short
Aayush Ganeriwala
Manager, Oil& Gas,
Metals
Suryanarayanan
Manian, CFA (10)
VP, Tech, Telecom,
Media, FMCG
Nilesh Aiya(12)
AVP, ForensicResearch
Resham Jain, CFA (14)
VP, Small & Mid Caps,Agri
inputs, Textiles, Chemicals,
Retail
Charanjit Singh – managing the fund
since01 Jan 2021
• Joined DSPIM in Sep 2018 to cover
Industrials, Utilities, Infrastructure and
Consumer Durables sectors
• Prior to joining DSPIM, he was
working with B&Ksecurities
• He has been rated as No. 2 analyst in
2017 Asia Money Polls in Industrials
sector & been consistently voted in
top quartile by leading investment
managersin previous roles
Chirag Dagli
VP, Healthcare
Abhishek Singh (14)
AVP, Portfolio Manager
Bhavin Gandhi (15)
AVP, Portfolio Manager
8. 8
Performance Scorecard
Source: MFIE; Scheme Benchmark – Nifty Large Midcap 250 TRI. Returns are as on Sep 30, 2021 for DSP Equity Opportunities Fund, Regular Plan Growth Option. Rolling returns are calculated from April 01,
2005 as it is the inception date for Nifty Large Midcap 250 TRI. Rolling Frequency is Daily. Standard Deviation of DSP Equity Opportunities and Nifty Large Midcap 250 TRI is calculated on the basis of daily
returns. Click here for scheme performance of above Scheme in SEBI prescribed format and of other schemes managed by same Fund Managers. Past performance may or may not sustain in future and
should not be used as a basis for comparison with other investments. The figure mentioned for performance of the index should not construe as returns/performance of the Scheme. It is not possible to
invest directly in an index.
POINT-TO-POINT RETURNS
ROLLINGRETURNS
DSP EQUITY
OPPORTUNITIES FUND
NIFTY LARGE MIDCAP
250 TRI
DSP EQUITY
OPPORTUNITIES FUND
NIFTY LARGE MIDCAP
250 TRI
DSP EQUITY
OPPORTUNITIES FUND
NIFTY LARGE MIDCAP
250 TRI
Average Annual Returns 18.8 18.6 12.8 12.3 13.8 13.1
Median Annual Returns 14.3 13.4 12.3 12.8 14.2 13.4
Minimum Annual Returns -57.2 -62.3 -7.9 -12.0 -0.2 -1.5
Maximum Annual Returns 109.7 138.2 40.2 37.6 25.7 24.8
Returns / Risk 0.94 0.87 0.64 0.57 0.69 0.61
1 YEAR ROLLING RETURNS 3 YEARS ROLLING RETURNS 5 YEARS ROLLING RETURNS
TIME PERIOD DSP EQUITY OPPORTUNITIES FUND NIFTY LARGE MIDCAP 250 TRI ALPHA
1 year 66.7 67.6 -0.9
3 years 20.8 21.2 -0.4
5 years 15.8 17.6 -1.7
Since Inception 18.3 N.A N.A
9. 9
Performance Scorecard
Source: MFIE; Returns are as on Sep 30, 2021 for DSP Equity Opportunities Fund, Regular Plan Growth Option. Rolling returns are calculated from April 01, 2005 as it is the inception date for
Nifty Large Midcap 250 TRI. Rolling Frequency is Daily. Standard Deviation of DSP Equity Opportunities and Nifty Large Midcap 250 TRI is calculated on the basis of daily returns. Click here for
scheme performance of above Scheme in SEBI prescribed format and of other schemes managed by same Fund Managers. Past performance may or may not sustain in future and should
not be used as a basis for comparison with other investments. The figure mentioned for performance of the index should not construe as returns/performance of the Scheme. It is not
possible to invest directly in an index.
AVERAGE ROLLINGRETURNS
RETURN PER UNIT OF RISK
18.8
12.8
13.8
18.6
12.3
13.1
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
1 yr RR 3 yr RR 5 yr RR
DSP EQUITY OPPORTUNITIES FUND NIFTY LARGE MIDCAP 250 TRI
0.94
0.64
0.69
0.87
0.57 0.61
0.00
0.20
0.40
0.60
0.80
1.00
1 yr RR 3 yr RR 5 yr RR
DSP EQUITY OPPORTUNITIES FUND NIFTY LARGE MIDCAP 250 TRI
10. 10
Portfolio details – sector exposures
Significant exposure in Financial, Materials & Industrials sector during Rohit’s tenure
Source: Morningstar; Portfolio data as on Sep 30, 2021. The sector(s)/stock(s)/issuer(s) mentioned in this note do not constitute any recommendation of the same and the Fund may or
may not have any future position in these sector(s)/stock(s)/issuer | More than 10% allocation highlighted in Orange and more than 5% allocation highlighted in grey
Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Sep-21
Energy 10.3% 12.4% 9.6% 8.2% 6.6% 7.5% 5.9% 4.2% 2.3% 8.0% 6.6% 2.0% 2.1%
Materials 9.1% 10.0% 11.8% 14.3% 11.8% 13.3% 12.7% 11.4% 12.1% 13.0% 14.0% 16.2% 13.9%
Industrials 13.8% 10.8% 8.9% 11.1% 12.4% 13.7% 11.0% 9.5% 9.4% 8.6% 7.6% 6.2% 6.7%
Consumer Discretionary 13.4% 12.4% 7.7% 8.2% 7.9% 11.0% 13.7% 5.7% 3.8% 6.0% 6.2% 6.0% 8.8%
Consumer Staples 3.2% 3.1% 4.8% 4.9% 7.8% 4.1% 5.1% 4.5% 3.8% 4.1% 7.5% 6.3% 4.4%
Healthcare 8.5% 10.3% 8.4% 6.7% 2.8% 6.3% 7.3% 6.1% 9.7% 5.3% 6.4% 10.0% 6.1%
Financials 24.1% 23.4% 30.3% 27.2% 35.5% 32.0% 33.9% 35.6% 40.1% 33.2% 27.4% 30.9% 38.0%
Information Technology 8.6% 9.5% 7.8% 10.0% 1.3% 0.6% 6.2% 10.7% 9.9% 7.0% 5.6% 8.3% 8.0%
Communication Services 1.1% 3.3% 0.9% 1.2% 1.4% 5.9% 7.9% 6.7% 2.7%
Utilities 1.9% 4.2% 3.4% 4.7% 4.9% 5.0% 2.3% 3.1% 4.5% 4.0% 3.8% 4.0% 6.4%
Real Estate 1.5% 2.6% 1.8% 2.2% 1.6%
Total Equity 92.8% 97.3% 92.7% 95.3% 94.3% 94.5% 98.1% 92.1% 98.6% 97.6% 94.8% 98.9% 98.7%
11. 11
Portfolio details – concentration and market cap trends
Source: MFIE; Portfolio data as on Sep 30 2021. The sector(s)/stock(s)/issuer(s) mentioned in this note do not constitute any recommendation of the same and the Fund may or may not
have any future position in these sector(s)/stock(s)/issuer. Large-caps are defined as top 100 stocks on market capitalization, mid-caps as 101-250 stocks, small-caps 251 stock onwards
95%
2%
2%
Manager preference for stocks with high liquidity
87%
11%
87%
11%
87%
8%
14%
74%
MARKET CAP BREAK UP
STOCK CONCENTRATION
SECTOR CONCENTRATION
3%
56%
36%
6%
25%
38%
57
40
45
50
55
60
65
70
75
80
15%
20%
25%
30%
35%
40%
45%
50%
55%
Jun-15
Nov-15
Apr-16
Sep-16
Feb-17
Jul-17
Dec-17
May-18
Oct-18
Mar-19
Aug-19
Jan-20
Jun-20
Nov-20
Apr-21
Sep-21
Top 5 stocks (LHS) Top 10 stocks (LHS) Total No of stocks
38%
61%
75%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Top Sector Top 3 Sector Top 5 Sector
0
10
20
30
40
50
60
70
80
90
100
Jun-15
Sep-15
Dec-15
Mar-16
Jun-16
Sep-16
Dec-16
Mar-17
Jun-17
Sep-17
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Large Cap Mid Cap Small Cap
7%
40%
52%
12. 12
Portfolio Snapshot as on Sep 30, 2021
Source: DSP Internal; The sector(s)/stock(s)/issuer(s) mentioned in this note do not constitute any recommendation of the same and the Fund may or may not have any future position in
these sector(s)/stock(s)/issuer.
2%
11%
11%
8%
14%
74%
TOP 10 STOCKS TOP 5 SECTORS
ASSET ALLOCATION
NAME OF INSTRUMENT INDUSTRY
% OF NET
ASSETS
ICICI Bank Ltd. Banks 8.6%
HDFC Bank Ltd. Banks 5.2%
Infosys Ltd. Software 4.3%
Axis Bank Ltd. Banks 4.1%
State Bank of India Banks 3.2%
HCL Technologies Ltd. Software 2.8%
Bharti Airtel Ltd. Telecom - Services 2.7%
Tata Steel Ltd. Ferrous Metals 2.6%
Crompton Greaves Consumer
Electricals Ltd.
Consumer Durables 2.4%
Bajaj Finserv Ltd. Insurance 2.4%
6.7%
8.0%
8.8%
13.9%
38.0%
Industrials
Information Technology
Consumer Discretionary
Materials
Financials
98.8%
1.2%
Equities Cash & Cash Equivalent
13. Scheme Product Suitability
Riskometer
DSP Equity opportunities Fund Benchmark – Nifty Large Midcap Index
TRI
DSP Equity Opportunities Fund
(Large & Mid Cap Fund-An open
ended equity scheme investing in
both large cap and mid cap stocks)
The Open ended equity scheme is suitable for
investors who are seeking*
• Long-term capital growth
• Investment in equity and equity-related
securities predominantly oflarge and
midcap companies
13
Product Labeling Details & Disclaimer
This document is for information purposes only. In this material DSP Investment Managers Private Limited (the AMC) has used information that is publicly available, including
information developed in-house. Information gathered and used in this material is believed to be from reliable sources. The statements contained herein may include statements of
future expectations and other forward looking statements that are based on prevailing market conditions / various other factors and involve known and unknown risks and
uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. While utmost care has been exercised
while preparing this document, the AMC nor any person connected does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages
arising out of the use of this information. The recipient(s) before acting on any information herein should make his/their own investigation and seek appropriate professional advice.
There is no assurance of any returns/capital protection/capital guarantee to the investors in any schemes of DSP Mutual Fund (‘Fund’). The portfolio of the scheme is subject to
changes within the provisions of the Scheme Information document of the scheme. Past performance may or may not sustain in future and should not be used as a basis for
comparison with other investments. The sector(s)/stock(s)/issuer(s) mentioned herein do not constitute any research report/recommendation of the same and the scheme/ Fund
may or may not have any future position in these sector(s)/stock(s)/issuer(s). The strategy / investment approach / framework mentioned herein is currently followed by the
scheme and the same may change in future depending on market conditions and other factors. All opinions, figures, charts/graphs and data included in this document are as on 30
Sep 2021 (unless otherwise mentioned) and are subject to change without notice. For scheme specific risk factors, Investment strategy & objective, asset allocation and more details,
please read the Scheme Information Document, Statement of Additional Information and Key Information Memorandum of scheme available on ISC of AMC and also available on
www.dspim.com. For Index Disclaimerclick here.
The distribution of this material in certain jurisdictions may be restricted or subject to registration requirements and, accordingly, persons who come into possession of this material
in such jurisdictions arerequired to inform themselves about, and to observe, any such restrictions
The strategy mentioned has been currently followed by the Scheme and the same may change in future depending on market conditions and other factors. Large-caps are defined as
top 100 stocks on market capitalization, mid-caps as 101-250, small-caps as 251 and above.
MutualFund investments are subject to market risks, read allscheme relateddocuments carefully.
*Investors should consult their financial advisers ifin doubt about whether the Scheme is suitable for them.