BoI Multicap Fund is off to a steady start in its first 8 months, with a second quartile ranking and performance above peer group average.
Nitin initially commenced portfolio construction with large caps but by April as it was clear that both Government and private sector capex were building momentum, he focused on construction / capital goods stocks in the small caps space.
The fund’s largest slice is currently in small caps, followed by large caps and then by midcaps. Nitin sees large caps exposure increasing in the coming months.
His BFSI exposure is across all verticals in this vast space– including PSU banks, private sector banks, NBFCs, microfinance and financial services. Rather than taking broad-brush calls, he prefers to look bottom up in all verticals in search of sound investment opportunities.
He prefers domestic themes to export focused businesses given the uncertainties in the global space. Within domestic themes, he prefers capex driven themes to consumption driven ones.
An open mind and logical thought process mark Nitin’s investing style which is enabling him to drive his funds with a steady hand.