Computer Age management Services Limited (CAMS) is the leader in the two-player MF Registrar and transfer agent (RTA) industry, with a 70% market share. It services 16 of the 41 AMCs and 4 out of the top 5 AMCs that account for a lion’s share of Indian mutual fund assets.
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If you are a long-term investor, adding mid-cap funds to your portfolio will drive overall returns. And in such mid-cap exposure, many of you could simply want funds that can deliver returns that are at least better than the mid-cap index and not collapse during market declines.
SEBI’s new circular dictating a minimum mid-cap and small-cap stock allocation has left investors in multicap funds scratching their heads. But there’s another set of investors who are thrilled with this move. These are the folks who are already invested in smallcap stocks in their direct equity portfolios or owning smallcap equity funds.
As per this new SEBI multicap rule, a multi-cap fund should allocate 25% each at the minimum to smallcap, midcap and largecap stocks. This is a sea change from the current scenario where multicap funds could have any allocation they wished to, based on their outlook on the market.
HDFC Top 100 was the largest fund in its category for a long time (and is still among the top 5 in its category in AUM). It has shown great mettle in its comeback stories time and again.
Today, for us, it serves a different purpose. HDFC Top 100 is a great candidate for a serious case study on the changing performance of mutual funds in India and what it means to you.