Financial Daily from THE HINDU group of publications
Sunday, Oct 31, 2004
Financial Daily from THE HINDU group of publications Sunday, Oct 31, 2004 |
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Investment World
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Mutual Funds Markets - Mutual Funds Franklin Prima Plus: Hold Shanthi Venkataraman
Suitability: The fund's risk profile is similar to that of other diversified equity funds. As it invests across market capitalisations, the fund offers scope for perking up returns by investing in mid-caps as against a purely large-cap fund. As its long-term track record is not as strong as that of its peers, first-time investors can consider funds such as HDFC Equity and Franklin Bluechip ahead of Prima Plus. Performance: The fund has delivered a return of about 38 per cent over the past year. This beats the returns of the broad-based BSE-500 by 10 percentage points. The fund has also outperformed other diversified equity funds that have a good track record, such as HDFC Equity and HDFC Top 200. The fund suffered a setback in 2000, which has been a dampener on its five-year track record. Its performance over a three-year and five-year period, therefore, lags that of HDFC Equity. The compounded annual return of Franklin Bluechip over a five-year period is superior to that of Prima Plus, despite its purely large-cap focus. The fund has, however, outperformed the Nifty in four out of five years. This makes it one of the better picks among diversified equity funds.
Portfolio overview: The fund has a strong preference towards the IT sector, which accounts for about 18 per cent of its total assets. It has, however, limited its exposures to other sectors to less than 10 per cent. The top ten stocks account for about 50 per cent of the assets and are predominantly large-cap stocks. Prominent mid-caps in the portfolio include Kotak Mahindra Bank, Hughes Software, Asian Paints, Indian Rayon and Lakshmi Machine Works. The portfolio is rather aggressively managed, with a turnover of about 130 per cent. Fund facts: The fund was launched in 1994 and has an asset base of Rs 347 crore. The minimum investment amount is Rs 5,000. The fund manager is R. Sukumar.
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