Guide to using readymade MF screeners

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The Prime MF Screener is a one-of-a-kind screening tool for mutual funds. In fact, it’s the first of its kind! So, we quite understand that knowing how to navigate and derive the most from the MF Screener can be a shade confusing. 

To address this, we have set up pre-defined filter sets (which we’re calling pre-built screeners). There are two levels of pre-built screeners:

  • Basic screeners: These screeners are designed to put together specific sets of filters. Each of these sets will help identify funds that meet some specific characteristic or criteria. 
  • Advanced screeners: In these screeners, our research team uses different combinations of filters, applying specific rules to these filters to arrive at a short-list of funds.

Here is how you should use them.

Guide to using readymade MF screeners

Basic screeners

Basic screeners are good starting points in the Prime MF Screener, providing a base on which you can add on filters, apply cut-offs, slice and dice the data to arrive at a useful fund shortlist. Basic screeners can be viewed as illustrations that we have provided for you to know how to mix and match different parameters to arrive at desired results. You can use them to further build your own screeners. Here’s how Basic Screeners work:

  1. Each Basic Screener comprises a specific set of filters which you will find in the screener itself. That is, we have chosen a few filters from the full list of Performance, Portfolio, and Expense Ratio filters that the MF Screener houses.
  2. These filters, when put together, will help you identify funds that meet a particular characteristic. For example, let’s say you are trying to identify equity funds with good downside containment. The Basic Screener will tell you which filters among those available will be the most useful for you to analyse funds along that downside characteristic.
  3. You will need to look at the data in the screener output, add more filters, apply ranges, and so on to filter out funds that are worth digging deeper into.

The table below explains each Basic Screener and what to use it for.

Each Basic Screener forms a primary set of filters to narrow down the fund universe. As we have often said, overlaps in categories means that more than one category fits a specific investment purpose. Basic Screeners are a way to help you identify funds that suit characteristics that you want your fund to have.

Use ranges for different metrics to further narrow the list down, and add filters to better-understand a fund’s performance. For easier analysis, export into Excel to work further.

Advanced screeners

These screeners are designed by our research team. Each advanced screener:

  • Combines filters from the available filters and applies cut-offs or calculations on these.
  • Funds that meet the defined criteria are brought up as the result of the Advanced Screener. Each screener, essentially, narrows down the fund universe into a shortlist. An Advanced Screener, therefore, goes ahead of Basic Screeners to apply criteria and eliminate funds. 
  • However, while the fund shortlist is more precise, you will still need to apply additional filters and look at the data further to pick funds suitable for you.

The table below explains each Advanced Screener and what to use it for.

Advanced Screeners are, therefore, readymade fund shortlists that you can explore further to pick funds worthy of your portfolio. Apply ranges on the filters in the output, add new ones based on the tips in the table above and your own understanding to narrow down the list some more. For easier analysis, export into Excel to work further.

Disclaimers

The output derived using the Basic Screeners and Advanced Screeners are not recommendations given by PrimeInvestor Financial Research Pvt Ltd or its research team. These pre-built screeners are only illustrations or suggestions to help you navigate the Prime MF Screener, understand how to use the filters available, and allow you to do your own analysis. PrimeInvestor Financial Research Pvt. Ltd. will not be responsible for any investment decisions you take based on these screeners.

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