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Baroda BNP Paribas Multi Asset Fund completes its 1styear with a healthy 20% return and 2nd quartile position in its league table.
The fund allocates between 65-75% in equity and the balance between debt and gold.
For its commodities exposure, it has chosen only gold due to its negative correlation with other asset classes and will keep this allocation in the 14-15% level, as this is what delivers the best risk-adjusted return over time.
Equity exposure is substantially tilted towards large caps(85% large caps, 15% mid and small caps) – apart from Jitendra’s belief that large caps look relatively more attractive now, they also are a lot more liquid and less volatile – factors that help in delivering superior risk adjusted returns.
In recent months, Jitendra has been reducing exposure to consumer staples and energy stocks and has been adding to banks and IT stocks.
Equity oriented. Commodities restricted to gold are the others are of industrial use. Quite unique thinking. Well managed fund house though.
