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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: | ₹ 152.701 |
| Direct Plan | |
| Growth: | ₹ 162.976 |
₹ 5,661 Cr
₹ 5,617 Cr
1.90
| Standard Deviation : | 17.20% |
| Beta : | 1.19 |
| R-Squared : | 91.88% |
| Sharpe Ratio : | 0.004 |
| Regular Plan : | 1.91% |
| Direct Plan : | 0.94% |
4.76 years
3.65 years
6.45%
Aggressive Hybrid
21 Yr 1 Mn
| AUM as on 30 June 2020 (₹ in Cr) | 5,661 |
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 | ||
| Finance | 13.12 | |
| ✔ Bajaj Finance Limited | 3.04 | |
| ✔ Muthoot Finance Limited | 2.38 | |
| Bajaj Finserv Limited | 1.71 | |
| ICICI Lombard General Insurance Company Limited | 1.26 | |
| HDFC Life Insurance Company Limited | 1.18 | |
| ICICI Prudential Life Insurance Company Limited | 1.12 | |
| Housing Development Finance Corporation Limited | 0.98 | |
| HDFC Asset Management Company Limited | 0.90 | |
| Equitas Holdings Limited | 0.34 | |
| Satin Creditcare Network Limited | 0.23 | |
| Banks | 12.42 | |
| ✔ HDFC Bank Limited | 5.00 | |
| ✔ ICICI Bank Limited | 4.11 | |
| Kotak Mahindra Bank Limited | 2.20 | |
| Axis Bank Limited | 1.11 | |
| Cement | 5.49 | |
| ✔ UltraTech Cement Limited | 3.12 | |
| Shree Cement Limited | 1.56 | |
| The Ramco Cements Limited | 0.81 | |
| Pharmaceuticals | 4.88 | |
| Divi's Laboratories Limited | 1.47 | |
| Dr. Reddy's Laboratories Limited | 1.44 | |
| Alkem Laboratories Limited | 1.23 | |
| IPCA Laboratories Limited | 0.74 | |
| Consumer Durables | 4.62 | |
| Havells India Limited | 1.03 | |
| Voltas Limited | 0.99 | |
| Crompton Greaves Consumer Electricals Limited | 0.79 | |
| Relaxo Footwears Limited | 0.73 | |
| V-Guard Industries Limited | 0.60 | |
| Titan Company Limited | 0.48 | |
| Telecom - Services | 4.58 | |
| ✔ Bharti Airtel Limited | 4.58 | |
| Consumer Non Durables | 4.56 | |
| Britannia Industries Limited | 1.79 | |
| Asian Paints Limited | 1.13 | |
| Emami Limited | 1.10 | |
| Hindustan Unilever Limited | 0.54 | |
| Retailing | 4.20 | |
| Avenue Supermarts Limited | 1.89 | |
| V-Mart Retail Limited | 1.65 | |
| Trent Limited | 0.66 | |
| Software | 3.61 | |
| ✔ Tata Consultancy Services Limited | 2.36 | |
| Infosys Limited | 1.25 | |
| Construction | 3.00 | |
| Godrej Properties Limited | 1.62 | |
| KNR Constructions Limited | 0.70 | |
| Ahluwalia Contracts (India) Limited | 0.68 | |
| Chemicals | 2.97 | |
| Atul Limited | 1.29 | |
| Aarti Industries Limited | 1.09 | |
| Solar Industries India Limited | 0.59 | |
| Gas | 2.66 | |
| Indraprastha Gas Limited | 1.60 | |
| Gujarat Gas Limited | 1.06 | |
| Fertilisers | 2.44 | |
| ✔ Coromandel International Limited | 2.44 | |
| Auto | 1.62 | |
| Bajaj Auto Limited | 1.00 | |
| Maruti Suzuki India Limited | 0.62 | |
| Auto Ancillaries | 1.58 | |
| Balkrishna Industries Limited | 0.86 | |
| Minda Industries Limited | 0.72 | |
| Pesticides | 0.91 | |
| PI Industries Limited | 0.91 | |
| Industrial Capital Goods | 0.69 | |
| Siemens Limited | 0.69 | |
| Industrial Products | 0.53 | |
| KEI Industries Limited | 0.53 | |
| Textiles - Synthetic | 0.36 | |
| Ganesha Ecosphere Limited | 0.36 | |
| Total | 74.26 | |
| 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 | 2.61% |
| Indian Oil Corporation Limited | CRISIL AAA | 1.19% |
| Indian Railway Finance Corporation Limited | CRISIL AAA | 1.06% |
| National Bank for Agriculture and Rural Development | CRISIL AAA | 0.97% |
| Reliance Industries Limited | CARE AAA | 0.92% |
| Power Grid Corporation of India Limited | CRISIL AAA | 0.64 |
| Hindustan Petroleum Corporation Limited | CRISIL AAA | 0.62 |
| Export-Import Bank of India | CRISIL AAA | 0.59 |
| HDFC Bank Limited | IND AA+ | 0.56 |
| NHPC Limited | ICRA AAA | 0.49 |
| Bank of Baroda | IND AA+ | 0.48 |
| Bank of Baroda | CARE AA | 0.46 |
| National Housing Bank | CRISIL AAA | 0.39 |
| Hindustan Petroleum Corporation Limited | IND AAA | 0.29 |
| National Highways Authority of India | CRISIL AAA | 0.28 |
| NTPC Limited | CARE AAA | 0.19 |
| Dewan Housing Finance Corporation Limited@ | CARE D | 0.13 |
| GAIL (India) Limited | CARE AAA | 0.10 |
| NTPC Limited | CRISIL AAA | 0.09 |
| National Bank for Agriculture and Rural Development | ICRA AAA | 0.06 |
| REC Limited | CRISIL AAA | 0.02 |
| Total | 12.14 | |
| Unlisted | ||
| KKR India Financial Services Private Limited | CRISIL AA | 1.02 |
| Total | 1.02 | |
| CENTRAL GOVERNMENT SECURITIES | ||
| ✔ 7.26% GOI 14-01-2029 | SOV | 5.80 |
| 7.59% GOI 11-01-2026 | SOV | 2.10 |
| 7.32% GOI 28-01-2024 | SOV | 1.38 |
| 5.79% GOI 11-05-2030 | SOV | 0.62 |
| 7.27% GOI 08-04-2026 | SOV | 0.60 |
| 7.95% GOI 28-08-2032 | SOV | 0.51 |
| 6.68% GOI 17-09-2031 | SOV | 0.47 |
| 7.37% GOI 16-04-2023 | SOV | 0.39 |
| 7.61% GOI 09-05-2030 | SOV | 0.11 |
| Total | 11.98 | |
| MONEY MARKET INSTRUMENTS | ||
| TREPS / Reverse Repo Investments / Corporate Debt Repo | 2.24 | |
| Total | 2.24 | |
| Cash & Cash Equivalent | ||
| Net Receivables/Payables | -1.64 | |
| Total | -1.64 | |
| 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 | 25 | https://dspim.com/docs/default-source/other | |
| 0.00% KKR IND S-3 14MAR21 ZCB(C-14MAR19) | 25 | 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: | 15.39 L |
| SIP Returns(In %) | ||||
| 10 yr | 5 yr | 3 yr | SI* | |
| *SI - Since inception | 9.54 | 5.38 | 2.21 | 14.00 |
| 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 | 16.0 | 17.0 | 16.5 | 16.1 |
| % times negative returns | -- | -- | 7.0 | 23.9 |
| % of times returns are in excess of 7% | 100.0 | 95.6 | 80.4 | 60.9 |
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 |
| Software |
| Infosys Limited |
| Gas |
| Gujarat Gas Limited |
| Finance |
| HDFC Asset Management Company Limited |
| Positions Increased |
| Pesticides |
| PI Industries Limited |
| Gas |
| Indraprastha Gas Limited |
| Banks |
| Kotak Mahindra Bank Limited |
| Software |
| Tata Consultancy Services Limited |
| Finance |
| Muthoot Finance Limited |
| Retailing |
| Avenue Supermarts Limited |
| Cement |
| UltraTech Cement Limited |
| Telecom - Services |
| Bharti Airtel Limited |
| Industrial Products |
| KEI Industries Limited |
| Positions Decreased |
| Fertilisers |
| Coromandel International Limited |
| Construction |
| Godrej Properties Limited |
| Pharmaceuticals |
| Alkem Laboratories Limited |
| Consumer Non Durables |
| Asian Paints Limited |
| Cement |
| Shree Cement Limited |
| Auto Ancillaries |
| Balkrishna Industries Limited |
| Auto |
| Bajaj Auto Limited |
| Retailing |
| Trent Limited |
| Banks |
| HDFC Bank Limited |
| ICICI Bank Limited |
| Axis Bank Limited |
| Finance |
| Bajaj Finance Limited |
| Bajaj Finserv Limited |
| Consumer Durables |
| Voltas Limited |
| Titan Company 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.