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DSP Equity & Bond Fund An open ended hybrid scheme investing predominantly in equity and equity related instruments |
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- 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.
Atul Bhole (Equity portion)
Total work experience of 12 years.
Managing this Scheme since
June 2016.
Vikram Chopra (Debt portion)
Total work experience of 17 years.
Managing this Scheme since
July 2016.
May 27, 1999
CRISIL Hybrid 35+65-Aggressive Index
| Regular Plan | |
| Growth: | ₹ 145.633 |
| Direct Plan | |
| Growth: | ₹ 155.177 |
₹ 5,538 Cr
₹ 5,301 Cr
1.70
| Standard Deviation : | 16.77% |
| Beta : | 1.19 |
| R-Squared : | 91.16% |
| Sharpe Ratio : | -0.13 |
| Regular Plan : | 1.90% |
| Direct Plan : | 0.89% |
3.76 years
2.89 years
7.01%
Aggressive Hybrid
20 Yr 11 Mn
| AUM as on 30 April 2020 (₹ in Cr) | 5,538 |
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.
| Name of Instrument | % to Net Assets | |
| EQUITY & EQUITY RELATED | ||
| Listed / awaiting listing on the stock exchanges | ||
| Banks | 14.85% | |
| ✔ HDFC Bank Limited | 5.54% | |
| ✔ ICICI Bank Limited | 5.28% | |
| ✔ Kotak Mahindra Bank Limited | 2.23% | |
| Axis Bank Limited | 1.81% | |
| Finance | 11.13% | |
| ✔ Bajaj Finance Limited | 3.47% | |
| Bajaj Finserv Limited | 1.90% | |
| Muthoot Finance Limited | 1.65% | |
| ICICI Lombard General Insurance Company Limited | 1.36% | |
| ICICI Prudential Life Insurance Company Limited | 1.11% | |
| HDFC Life Insurance Company Limited | 1.10% | |
| Equitas Holdings Limited | 0.36% | |
| Satin Creditcare Network Limited | 0.18% | |
| Pharmaceuticals | 5.35% | |
| Alkem Laboratories Limited | 1.61% | |
| Divi's Laboratories Limited | 1.54% | |
| Dr. Reddy's Laboratories Limited | 1.47% | |
| IPCA Laboratories Limited | 0.73% | |
| Cement | 5.33% | |
| ✔ UltraTech Cement Limited | 2.80% | |
| Shree Cement Limited | 1.91% | |
| The Ramco Cements Limited | 0.62% | |
| Consumer Durables | 5.11% | |
| Voltas Limited | 1.16% | |
| Havells India Limited | 0.91% | |
| Titan Company Limited | 0.89% | |
| Crompton Greaves Consumer Electricals Limited | 0.76% | |
| Relaxo Footwears Limited | 0.75% | |
| V-Guard Industries Limited | 0.64% | |
| Telecom - Services | 4.17% | |
| ✔ Bharti Airtel Limited | 4.17% | |
| Retailing | 4.03% | |
| Avenue Supermarts Limited | 1.88% | |
| V-Mart Retail Limited | 1.67% | |
| Trent Limited | 0.48% | |
| Consumer Non Durables | 4.00% | |
| Britannia Industries Limited | 1.66% | |
| Asian Paints Limited | 1.36% | |
| Emami Limited | 0.99% | |
| Chemicals | 3.00% | |
| Aarti Industries Limited | 1.32% | |
| Atul Limited | 1.15% | |
| Solar Industries India Limited | 0.52% | |
| Construction | 2.72% | |
| Godrej Properties Limited | 1.38% | |
| KNR Constructions Limited | 0.72% | |
| Ahluwalia Contracts (India) Limited | 0.62% | |
| Fertilisers | 2.09% | |
| ✔ Coromandel International Limited | 2.09% | |
| Software | 2.03% | |
| Tata Consultancy Services Limited | 2.03% | |
| Auto | 1.91% | |
| Bajaj Auto Limited | 1.33% | |
| Maruti Suzuki India Limited | 0.58% | |
| Auto Ancillaries | 1.46% | |
| Balkrishna Industries Limited | 0.77% | |
| Minda Industries Limited | 0.69% | |
| Gas | 1.17% | |
| Indraprastha Gas Limited | 1.17% | |
| Industrial Products | 1.06% | |
| SKF India Limited | 0.70% | |
| KEI Industries Limited | 0.36% | |
| Industrial Capital Goods | 0.74% | |
| Siemens Limited | 0.74% | |
| Textiles - Synthetic | 0.33% | |
| Ganesha Ecosphere Limited | 0.33% | |
| Pesticides | 0.28% | |
| PI Industries Limited | 0.28% | |
| Total | 70.77% | |
| Unlisted | ||
| Software | * | |
| SIP Technologies & Export Limited** | * | |
| Total | * | |
| Name of Instrument | Rating | "% to Net Assets" |
| DEBT INSTRUMENTS | ||
| BOND & NCD's | ||
| Listed / awaiting listing on the stock exchanges | ||
| ✔ Green Infra Wind Energy Limited | CRISIL AA | 2.64% |
| HDFC Bank Limited | IND AA+ | 1.68% |
| Bank of Baroda | IND AA+ | 1.30% |
| Indian Oil Corporation Limited | CRISIL AAA | 0.91% |
| Bank of Baroda | CARE AA | 0.91% |
| National Bank for Agriculture and Rural Development | ICRA AAA | 0.73% |
| Hindustan Petroleum Corporation Limited | CRISIL AAA | 0.60% |
| Export-Import Bank of India | CRISIL AAA | 0.49% |
| NHPC Limited | ICRA AAA | 0.48% |
| National Bank for Agriculture and Rural Development | CRISIL AAA | 0.48% |
| Indian Railway Finance Corporation Limited | CRISIL AAA | 0.30% |
| National Highways Authority of India | CRISIL AAA | 0.29% |
| Hindustan Petroleum Corporation Limited | IND AAA | 0.29% |
| State Bank of India | CRISIL AA+ | 0.23% |
| Export-Import Bank of India | ICRA AAA | 0.21% |
| NTPC Limited | CARE AAA | 0.18% |
| Dewan Housing Finance Corporation Limited@ | CARE D | 0.18% |
| Axis Bank Limited | CRISIL AA+ | 0.17% |
| REC Limited | CRISIL AAA | 0.11% |
| LIC Housing Finance Limited | CRISIL AAA | 0.11% |
| Power Grid Corporation of India Limited | CRISIL AAA | 0.10% |
| GAIL (India) Limited | CARE AAA | 0.09% |
| Indian Railway Finance Corporation Limited | CARE AAA | 0.09% |
| NTPC Limited | CRISIL AAA | 0.05% |
| Total | 12.62% | |
| Unlisted | ||
| KKR India Financial Services Private Limited | CRISIL AA | 1.03% |
| Total | 1.03% | |
| Government Securities (Central/State) | ||
| ✔ 7.26% GOI 14012029 | SOV | 2.35% |
| ✔ 7.17% GOI 08012028 | SOV | 2.23% |
| 7.59% GOI 11012026 | SOV | 2.09% |
| 7.27% GOI 08042026 | SOV | 1.58% |
| 7.32% GOI 28012024 | SOV | 1.38% |
| 7.57% GOI 17062033 | SOV | 0.51% |
| 7.37% GOI 16042023 | SOV | 0.39% |
| 6.79% GOI 26122029 | SOV | 0.05% |
| Total | 10.58% | |
| MONEY MARKET INSTRUMENTS | ||
| TREPS / Reverse Repo Investments / Corporate Debt Repo | 2.83% | |
| Total | 2.83% | |
| Cash & Cash Equivalent | ||
| Net Receivables/Payables | 2.17% | |
| Total | 2.17% | |
| GRAND TOTAL | 100.00% |
✔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. @security is below investment grade or default
2.In case of below securities, DSP Mutual Fund has ignored prices provided by valuation agencies. Disclosure vide
circular no. SEBI/HO/IMD/DF4/CIR/P/2019/41 dated March 22, 2019 & SEBI/HO/IMD/DF4/CIR/P/2019/102 dated
September 24,2019 for detailed rationale along with other details are available at the below mentioned links
| Name of the securities | No of Instances | Links | |
| 0% KKR INDIA FI SER SR 2 ZCB 10MAR21 ZCB | 3 | https://dspim.com/docs/default-source/other | |
| 0.00% KKR IND S-3 14MAR21 ZCB(C-14MAR19) | 3 | updates/ website-note_nayara-and-oriental-nagpur---27apr20.pdf?sfvrsn=4 | |
3. 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 23032019 | INE975G08140 | 0.00 | 0.00% | 5,965.03 |
| Growth of Rs. 1 L invested at inception: | 14.68 L |
| SIP Returns(In %) | ||||
| 10 yr | 5 yr | 3 yr | SI* | |
| *SI - Since inception | 8.92 | 3.90 | (0.72) | 13.80 |
| Outperformed Benchmark TRI (calendar year) | CRISIL Hybrid 35+65 -
Aggressive Index 76% |
| 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 | 16.1 | 17.1 | 16.6 | 16.2 |
| % times negative returns | -- | -- | 7.1 | 23.3 |
| % of times returns are in excess of 7% | 100.0 | 96.1 | 81.1 | 61.4 |
Mid Cap: 101st -250th company in terms of full market capitalization
Small Cap: 251st company onwards in terms of full market capitalization.
| Positions Exited |
| Stock |
| Consumer Non Durables |
| Hindustan Unilever Limited |
| Kansai Nerolac Paints Limited |
| Software |
| Infosys Limited |
| Larsen & Toubro Infotech Limited |
| New Position Bought |
| Stock |
| Consumer Non Durables |
| Britannia Industries Limited |
| Finance |
| Muthoot Finance Limited |
| Auto |
| Bajaj Auto Limited |
| Gas |
| Indraprastha Gas Limited |
| Retailing |
| Trent Limited |
| Pesticides |
| PI Industries Limited |
| Positions Increased |
| Stock |
| Finance |
| Bajaj Finserv Limited |
| Consumer Durables |
| Relaxo Footwears Limited |
| V-Guard Industries Limited |
| Havells India Limited |
| Voltas Limited |
| Crompton Greaves Consumer Electricals Limited |
| Chemicals |
| Atul Limited |
| Retailing |
| V-Mart Retail Limited |
| Telecom - Services |
| Bharti Airtel Limited |
| Cement |
| Shree Cement Limited |
| Industrial Products |
| KEI Industries Limited |
| Fertilisers |
| Coromandel International Limited |
| Positions Decreased |
| Stock |
| Industrial Products |
| SKF India Limited |
| Consumer Non Durables |
| Asian Paints Limited |
| Finance |
| Bajaj Finance Limited |
| Retailing |
| Avenue Supermarts Limited |
| Banks |
| ICICI Bank Limited |
| HDFC Bank Limited |
| Kotak Mahindra Bank Limited |
| Pharmaceuticals |
| Divi's Laboratories Limited |
| Dr. Reddy's Laboratories Limited |
| Alkem Laboratories Limited |
| IPCA Laboratories Limited |
Rebalances below 0.05 % are not considered.
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.
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.