DSP Equity & Bond Fund
An open ended hybrid scheme investing predominantly in equity and equity related instruments
DSP Equity & Bond Fund
An open ended hybrid scheme investing predominantly in equity and equity related instruments

  • Aggressive Hybrid scheme investing predominantly in equity and equity related instruments.
  • Portfolio is a combination of well diversified market cap and sector agnostic equity portfolio and high quality fixed income portfolio.

Fund Manager

Atul Bhole (Equity portion)
Total work experience of 13 years.
Managing this Scheme since June 2016.

Vikram Chopra (Debt portion)
Total work experience of 18 years.
Managing this Scheme since July 2016.

Inception date

May 27, 1999


CRISIL Hybrid 35+65-Aggressive Index

Regular Plan  
Growth: ₹ 160.577
Direct Plan  
Growth: ₹ 171.813
Total aum

₹ 5,502 Cr

Monthly average aum

₹ 5,587 Cr

Portfolio Turnover Ratio(Last 12 months):


3 Year Risk Statistics:
Standard Deviation : 17.22%
Beta : 1.18
R-Squared : 91.04%
Sharpe Ratio : 0.06
Month End Expense Ratio
Regular Plan : 1.92%
Direct Plan : 0.87%
Average Maturity@@

5.11 years

Modified Duration@@

3.98 years

Portfolio YTM@@


Portfolio Macaulay Duration@@

4.13 years

Fund Category

Aggressive Hybrid


21 Yr 4 Mn

Exit Load

Holding Period : < 12 months: 1%~
Holding Period :>= 12 months: Nil
~If the units redeemed or switched out are upto 10% of the units (the limit) purchased or switched: Nil.

Data As On September 30, 2020

Name of Instrument% to Net Assets
Listed / awaiting listing on the stock exchanges
Banks 13.88
✔ HDFC Bank Limited 5.21
✔ ICICI Bank Limited 4.72
Kotak Mahindra Bank Limited 2.35
Axis Bank Limited 1.60
Finance 12.20
✔ Bajaj Finance Limited 3.23
✔ Muthoot Finance Limited 2.61
Bajaj Finserv Limited 1.21
ICICI Lombard General Insurance Company Limited 1.16
Housing Development Finance Corporation Limited 1.00
HDFC Life Insurance Company Limited 0.94
HDFC Asset Management Company Limited 0.84
ICICI Prudential Life Insurance Company Limited 0.76
Equitas Holdings Limited 0.35
Satin Creditcare Network Limited 0.07
Satin Creditcare Network Limited - Partly Paid Shares 0.02
Pharmaceuticals 5.10
Dr. Reddy's Laboratories Limited 2.20
Alkem Laboratories Limited 1.23
IPCA Laboratories Limited 0.99
Divi's Laboratories Limited 0.68
Software 4.97
✔ Tata Consultancy Services Limited 2.70
Infosys Limited 2.27
Consumer Durables 4.58
Crompton Greaves Consumer Electricals Limited 1.00
Relaxo Footwears Limited 0.97
Voltas Limited 0.90
Havells India Limited 0.69
V-Guard Industries Limited 0.62
Century Plyboards (India) Limited 0.40
Cement 4.47
✔ UltraTech Cement Limited 2.76
Shree Cement Limited 1.10
The Ramco Cements Limited 0.61
Retailing 4.07
Avenue Supermarts Limited 1.85
V-Mart Retail Limited 1.62
Trent Limited 0.60
Consumer Non Durables 4.04
Britannia Industries Limited 1.95
Asian Paints Limited 1.10
Emami Limited 1.00
Gas 3.73
Indraprastha Gas Limited 1.49
Gujarat Gas Limited 1.22
Petronet LNG Limited 1.03
Chemicals 3.49
Atul Limited 1.64
Aarti Industries Limited 1.24
Solar Industries India Limited 0.62
Construction 3.00
Godrej Properties Limited 1.32
KNR Constructions Limited 0.89
Ahluwalia Contracts (India) Limited 0.79
Telecom - Services 2.86
✔ Bharti Airtel Limited 2.86
Auto Ancillaries 1.62
Minda Industries Limited 0.93
Balkrishna Industries Limited 0.69
Fertilisers 1.42
Coromandel International Limited 1.42
Industrial Products 1.39
Essel Propack Limited 0.82
KEI Industries Limited 0.56
Pesticides 1.27
PI Industries Limited 1.27
Power 0.74
Tata Power Company Limited 0.74
Auto 0.52
Maruti Suzuki India Limited 0.52
Textiles - Synthetic 0.43
Ganesha Ecosphere Limited 0.43
Industrial Capital Goods 0.37
Siemens Limited 0.37
Total 74.16
Software *
SIP Technologies & Export Limited** *
Total *
Name of Instrument Rating to Net Assets
Listed / awaiting listing on the stock exchanges
✔ Green Infra Wind Energy Limited CRISIL AA 2.71
National Housing Bank CRISIL AAA 1.42
REC Limited CARE AAA 1.03
REC Limited CRISIL AAA 0.77
Indian Railway Finance Corporation Limited CRISIL AAA 0.77
Indian Oil Corporation Limited CRISIL AAA 0.67
Housing Development Finance Corporation Limited CRISIL AAA 0.60
Power Finance Corporation Limited CARE AAA 0.57
State Bank of India ICRA AAA 0.36
Hindustan Petroleum Corporation Limited IND AAA 0.30
Bank of Baroda AT-1 Basel-III CARE AA 0.22
NTPC Limited CARE AAA 0.19
Bank of Baroda AT-1 Basel-III IND AA+ 0.19
Power Grid Corporation of India Limited CRISIL AAA 0.10
Power Grid Corporation of India Limited ICRA AAA 0.10
GAIL (India) Limited CARE AAA 0.10
NHPC Limited CARE AAA 0.10
Hindustan Petroleum Corporation Limited CRISIL AAA 0.06
Total 10.26
KKR India Financial Services Private Limited CRISIL AA 1.08
Total 1.08
Government Securities (Central/State)
✔ 5.77% GOI 03-08-2030 SOV 5.41
✔ 7.59% GOI 11-01-2026 SOV 2.60
7.27% GOI 08-04-2026 SOV 1.98
7.32% GOI 28-01-2024 SOV 1.38
7.26% GOI 14-01-2029 SOV 0.99
6.79% GOI 15-05-2027 SOV 0.49
7.37% GOI 16-04-2023 SOV 0.40
6.79% GOI 26-12-2029 SOV 0.29
Total 13.54
TREPS / Reverse Repo Investments / Corporate Debt Repo 2.27
Total 2.27
Cash & Cash Equivalent
Net Receivables/Payables -1.31
Total -1.31

as on 30th Sept'20

✔Top Ten Holdings
*Less than 0.01%
** Non Traded / Thinly Traded and illiquid securities in accordance with SEBI Regulations DSP Equity & Bond Fund erstwhile known as DSP Balanced Fund
@@Computed on the invested amount for debt portfolio
Notes: 1.Pursuant to SEBI circular SEBI/HO/IMD/DF4/CIR/P/2019/102 dated September 24, 2019 read with circular no. SEBI/HO/IMD/DF4/CIR/P/2019/41 dated March 22, 2019. Below are the details of the securities in case of which issuer has defaulted beyond its maturity date

Security ISIN value of the security considered under net receivables (i.e. value recognized in NAV in absolute terms and as % to NAV) (Rs.in lakhs) total amount (including principal and interest) that is due to the scheme on that investment (Rs.in lakhs)
0% IL&FS Transportation Networks Limited Ncd Series A 23032019INE975G08140 0.000.00 5,965.03
Growth of Rs. 1 L invested at inception: 16.19 L

SIP Returns(In %)
  10 yr 5 yr 3 yr SI*
*SI - Since inception
Outperformed Benchmark TRI (calendar year) CRISIL Hybrid 35+65 - Aggressive Index

Rolling Return
  10 yr 5 yr 3 yr 1 yr
Minimum (%)7.6 3.0 -11.9 -39.9
Maximum (%)23.5 42.5 51.0 89.3
Average (%)15.8 16.9 16.3 15.9
% times negative returns-- -- 6.9 23.7
% of times returns are in
excess of 7%
100.0 95.3 79.2 60.7
Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Returns are for Regular Plan - Growth Option Click here for performance in SEBI prescribed format.

Large Cap: 1st -100th company in terms of full market capitalization
Mid Cap: 101st -250th company in terms of full market capitalization
Small Cap: 251st company onwards in terms of full market capitalization.
Positions Exited
Industrial Products
SKF India Limited
New Position Bought
Infosys Limited
Gujarat Gas Limited
HDFC Asset Management Company Limited
Positions Increased
PI Industries Limited
Indraprastha Gas Limited
Kotak Mahindra Bank Limited
Tata Consultancy Services Limited
Muthoot Finance Limited
Avenue Supermarts Limited
UltraTech Cement Limited
Telecom - Services
Bharti Airtel Limited
Industrial Products
KEI Industries Limited
Positions Decreased
Coromandel International Limited
Godrej Properties Limited
Alkem Laboratories Limited
Consumer Non Durables
Asian Paints Limited
Shree Cement Limited
Auto Ancillaries
Balkrishna Industries Limited
Bajaj Auto Limited
Trent Limited
HDFC Bank Limited
ICICI Bank Limited
Axis Bank Limited
Bajaj Finance Limited
Bajaj Finserv Limited
Consumer Durables
Voltas Limited
Titan Company Limited
Note: The above position change is compared to last month-end data.
Rebalances below 0.05 % are not considered.
Investment Objective

The primary investment objective of the Scheme, seeking to generate long term capital appreciation and current income from a portfolio constituted of equity and equity related securities as well as fixed income securities (debt and money market securities).
There is no assurance that the investment objective of the Scheme will be realized.

Product Labelling

This Open Ended aggressive hybrid scheme is suitable for investors who are seeking*
• Capital growth and income over a long-term investment horizon
• Investment primarily in equity/equity-related securities, with balance exposure in money market and debt Securities

* Investors should consult their financial advisors if in doubt whether the product is suitable for them.