DSP Asset Managers Private Limited · Uncategorised · wound up

DSP BlackRock Balanced Fund

uncategorised Direct plan, IDCW

At a glance

the fund as it stands today, from public disclosures

NAV, 8 Sep 2017

₹15.49

+0.68% since 31 Aug 2017

1 year

14.4%

return

3 years

not enough history

5 years

not enough history

Since launch

14.4%

a year, over 2.9 years

Assets (AUM)

₹7 Cr

Sep 2017 AMFI quarterly average

Expense ratio, Direct / Regular

not disclosed

a year

Holdings

118

top ten are 26% of the fund · Feb 2018

Disclosed history

5.1 yrs

Jan 2013 – Feb 2018 · 1 of 11 checks could run

Fund managers

not parsed from the factsheets yet

All managers →

What only Anveshan can tell you

measured from the disclosures, not quoted from a brochure — each links to how it was done

P5Cost, measured

Cannot be measured: needs both a Direct and a Regular growth class.

The Regular and Direct plans hold the same portfolio; the Regular one pays a distributor out of your money every day. The gap between the two NAVs is that cost, measured from the NAVs rather than quoted from a document.

See how it is measured →

P7Whose record

Not known yet: no factsheet named a manager for this fund.

How long the people running it now have been running it, read from the monthly factsheets. A five-year record earned under someone else is not evidence about these managers.

See what is missing →

NAVTracking gap

Not replicated: the portfolio cannot be priced line by line in this build.

Each day, the NAV the fund published against the NAV its last disclosed portfolio would have produced at that day's prices. A gap that opens and stays is a change the fund has made and not disclosed yet.

See the daily gap →

P4Consistency

Not measurable yet: needs three years of NAV and a category median.

Take every three-year stretch since the fund had a NAV, one starting each month, and ask two things of each: did it beat the typical fund in its category, and by how much. Counting the wins tells you the record does not depend on when you happen to look; averaging the margin tells you whether winning often was worth anything, because four small wins do not pay for one large loss.

See every window →

NAV and drawdown

Direct plan, IDCW class · as of 8 Sep 2017

Month-end NAV, indexed to 100 at Oct 2014

36 month-ends · ₹10.54 → ₹15.49, 1.5× since Oct 2014

Deepest fall (max drawdown)

not computed

Worst month

not computed

Days to recover

not computed

from the deepest trough back to the old high

Drawdown is measured on the last year of daily NAV; trailing returns are CAGR of the direct growth class. A single end date decides them — the consistency card (P4) below is the record that does not, and it reports both how often the fund beat its category and by how much, because the first without the second can point the wrong way.

Holdings

Feb 2018 disclosure · 118 lines · when each was first held and the change over the last three disclosures

#	Holding	Sector	Weight	First held	Held for	3-mo change
1	HDFC Bank Limited equity	Banks	4.71%	Jan 2014	4.2 yrs	+0.76%
2	Tata Sons Limited** corporate bond	—	2.99%	Aug 2017	7 mo	-0.17%
3	Bajaj Finance Limited equity	Finance	2.86%	Sep 2016	1.5 yrs	-0.23%
4	Larsen & Toubro Limited equity	Construction Project	2.46%	Jan 2013	5.2 yrs	+0.88%
5	GAIL (India) Limited equity	Gas	2.31%	Nov 2016	1.3 yrs	-0.16%
6	ICICI Bank Limited equity	Banks	2.31%	Nov 2015	2.3 yrs	+0.27%
7	Yes Bank Limited equity	Banks	2.16%	Sep 2017	6 mo	-0.33%
8	State Bank of India equity	Banks	2.08%	May 2016	1.8 yrs	-0.24%
9	Bajaj Finserv Limited equity	Finance	2.02%	Aug 2017	7 mo	+0.78%
10	Shree Cement Limited equity	Cement	2.02%	May 2016	1.8 yrs	+0.45%
11	TREPS / cash equivalents CBLO / Reverse Repo Investments · money market	—	1.88%	Jan 2013	5.2 yrs	-0.11%
12	Maruti Suzuki India Limited equity	Auto	1.81%	May 2013	4.8 yrs	-0.06%
13	State Bank of India** corporate bond	—	1.68%	Aug 2017	7 mo	-0.10%
14	Havells India Limited equity	Consumer Durables	1.67%	Apr 2017	11 mo	-0.04%
15	Bharat Forge Limited equity	Industrial Products	1.64%	Oct 2017	5 mo	+0.11%
16	Tata Steel Limited equity	Ferrous Metals	1.56%	Mar 2017	1.0 yrs	-0.16%
17	Kotak Mahindra Bank Limited equity	Banks	1.54%	May 2017	10 mo	+0.35%
18	HDFC Bank Limited corporate bond	—	1.53%	May 2017	10 mo	-0.09%
19	Infosys Limited equity	Software	1.51%	Feb 2018	1 mo	+1.51%
20	Apollo Tyres Limited equity	Auto Ancillaries	1.43%	May 2017	10 mo	+0.44%
21	UltraTech Cement Limited equity	Cement	1.41%	Jun 2017	9 mo	+0.82%
22	Bharat Financial Inclusion Limited equity	Finance	1.37%	Sep 2017	6 mo	-0.02%
23	Motherson Sumi Systems Limited equity	Auto Ancillaries	1.36%	Oct 2017	5 mo	+0.18%
24	NCC Limited equity	Construction Project	1.33%	Oct 2016	1.4 yrs	+0.01%
25	Minda Industries Limited equity	Auto Ancillaries	1.32%	Mar 2017	1.0 yrs	-0.23%
26	Hindustan Petroleum Corporation Limited equity	Petroleum Products	1.27%	Apr 2015	2.9 yrs	-0.10%
27	Hindustan Unilever Limited equity	Consumer Non Durables	1.23%	Aug 2017	7 mo	+0.06%
28	Strides Shasun Limited equity	Pharmaceuticals	1.21%	Jun 2017	9 mo	-0.13%
29	ICICI Bank Limited** corporate bond	—	1.21%	Sep 2017	6 mo	-0.07%
30	Asian Paints Limited equity	Consumer Non Durables	1.13%	Jun 2016	1.8 yrs	+0.22%
31	V-Guard Industries Limited equity	Industrial Capital Goods	1.11%	May 2017	10 mo	-0.01%
32	Finolex Industries Limited equity	Industrial Products	1.07%	May 2014	3.8 yrs	+0.17%
33	Divi's Laboratories Limited equity	Pharmaceuticals	1.07%	Sep 2017	6 mo	+0.23%
34	ITC Limited equity	Consumer Non Durables	1.04%	Jun 2016	1.8 yrs	-0.65%
35	Ahluwalia Contracts (India) Limited equity	Construction	1.02%	Jul 2016	1.7 yrs	+0.34%
36	ICICI Lombard General Insurance Company Limited equity	Finance	1.01%	Sep 2017	6 mo	+0.23%
37	Sadbhav Engineering Limited equity	Construction Project	0.98%	Nov 2016	1.3 yrs	-0.01%
38	Bharat Electronics Limited equity	Industrial Capital Goods	0.96%	Mar 2017	1.0 yrs	+0.25%
39	Gujarat State Petronet Limited equity	Gas	0.94%	Jan 2014	4.2 yrs	-0.26%
40	Alkem Laboratories Limited equity	Pharmaceuticals	0.92%	Dec 2017	3 mo	+0.92%
41	Dalmia Bharat Limited equity	Cement	0.92%	Sep 2016	1.5 yrs	-0.97%
42	Kansai Nerolac Paints Limited equity	Consumer Non Durables	0.91%	May 2016	1.8 yrs	-0.07%
43	SRF Limited equity	Textile Products	0.91%	Jan 2013	5.2 yrs	+0.19%
44	Ashok Leyland Limited equity	Auto	0.88%	Nov 2017	4 mo	+0.10%
45	KNR Constructions Limited equity	Construction	0.84%	Dec 2016	1.3 yrs	+0.04%
46	HCL Technologies Limited equity	Software	0.84%	May 2016	1.8 yrs	+0.05%
47	INOX Leisure Limited equity	Media & Entertainment	0.82%	Jul 2016	1.7 yrs	-0.04%
48	Axis Bank Limited** corporate bond	—	0.82%	Jul 2017	8 mo	-0.05%
49	Sterlite Technologies Limited equity	Telecom - Equipment & Accessories	0.78%	Feb 2018	1 mo	+0.78%
50	Reliance Gas Transportation Infrastructure Limited** corporate bond	—	0.78%	Nov 2016	1.3 yrs	+0.16%
51	Satin Creditcare Network Limited equity	Finance	0.76%	Jul 2016	1.7 yrs	+0.25%
52	Cholamandalam Investment and Finance Company Limited** corporate bond	—	0.75%	Jul 2017	8 mo	-0.03%
53	The Ramco Cements Limited equity	Cement	0.74%	Mar 2017	1.0 yrs	0.00%
54	VST Industries Limited equity	Consumer Non Durables	0.74%	Jun 2016	1.8 yrs	+0.10%
55	Mahindra & Mahindra Financial Services Limited** corporate bond	—	0.74%	Jul 2017	8 mo	-0.05%
56	Shriram Transport Finance Company Limited** corporate bond	—	0.74%	Jul 2017	8 mo	-0.04%
57	Mahindra Logistics Limited equity	Transportation	0.71%	Nov 2017	4 mo	+0.19%
58	Dewan Housing Finance Corporation Limited corporate bond	—	0.71%	Oct 2017	5 mo	-0.04%
59	Finolex Cables Limited equity	Industrial Products	0.67%	Aug 2014	3.6 yrs	0.00%
60	Tata Capital Financial Services Limited** corporate bond	—	0.67%	Aug 2017	7 mo	-0.04%
61	Welspun India Limited equity	Textile Products	0.66%	Jan 2018	2 mo	+0.66%
62	Indian Oil Corporation Limited equity	Petroleum Products	0.63%	Dec 2016	1.3 yrs	-0.49%
63	Housing Development Finance Corporation Limited** corporate bond	—	0.63%	Jun 2017	9 mo	-0.02%
64	Himatsingka Seide Limited equity	Textile Products	0.59%	Nov 2016	1.3 yrs	+0.01%
65	Bank of Baroda** corporate bond	—	0.59%	Aug 2017	7 mo	-0.19%
66	Dilip Buildcon Limited equity	Construction	0.58%	Jun 2017	9 mo	+0.14%
67	Dixon Technologies (India) Limited equity	Consumer Durables	0.56%	Dec 2017	3 mo	+0.56%
68	HDFC Standard Life Insurance Company Limited equity	Finance	0.54%	Nov 2017	4 mo	+0.08%
69	Power Finance Corporation Limited** corporate bond	—	0.50%	Oct 2017	5 mo	-0.04%
70	Bank of Baroda** corporate bond	—	0.50%	Jul 2017	8 mo	-0.08%
71	Tata Consultancy Services Limited equity	Software	0.49%	Feb 2018	1 mo	+0.49%
72	LIC Housing Finance Limited** corporate bond	—	0.46%	Mar 2017	1.0 yrs	-0.02%
73	Punjab National Bank equity	Banks	0.44%	Dec 2017	3 mo	+0.44%
74	Union Bank of India** corporate bond	—	0.43%	Jun 2017	9 mo	-0.02%
75	Srikalahasthi Pipes Limited equity	Ferrous Metals	0.42%	Dec 2017	3 mo	+0.42%
76	Power Grid Corporation of India Limited corporate bond	—	0.42%	Aug 2017	7 mo	-0.03%
77	Bharat Petroleum Corporation Limited equity	Petroleum Products	0.41%	Aug 2015	2.6 yrs	-0.53%
78	Adani Ports and Special Economic Zone Limited equity	Transportation	0.40%	Feb 2018	1 mo	+0.40%
79	IndusInd Bank Limited** corporate bond	—	0.39%	Nov 2017	4 mo	-0.02%
80	KEC International Limited equity	Construction Project	0.38%	Jan 2018	2 mo	+0.38%
81	Nirma Limited** corporate bond	—	0.38%	Mar 2017	1.0 yrs	-0.03%
82	Shriram Transport Finance Company Limited** corporate bond	—	0.38%	Oct 2017	5 mo	-0.02%
83	Export-Import Bank of India** corporate bond	—	0.38%	Jan 2018	2 mo	+0.38%
84	Export-Import Bank of India** corporate bond	—	0.38%	Mar 2017	1.0 yrs	-0.03%
85	Shriram Transport Finance Company Limited** corporate bond	—	0.38%	Jun 2017	9 mo	-0.02%
86	Tata Motors Limited** corporate bond	—	0.37%	Aug 2017	7 mo	-0.02%
87	Cholamandalam Investment and Finance Company Limited** corporate bond	—	0.36%	Nov 2017	4 mo	-0.02%
88	HDB Financial Services Limited** corporate bond	—	0.36%	Jul 2017	8 mo	-0.05%
89	Bank of Baroda** corporate bond	—	0.36%	Jul 2017	8 mo	-0.02%
90	Mahindra & Mahindra Financial Services Limited** corporate bond	—	0.36%	Feb 2017	1.1 yrs	-0.05%
91	National Highways Authority of India** corporate bond	—	0.36%	Jan 2018	2 mo	+0.36%
92	KKR India Financial Services Private Limited** corporate bond	—	0.36%	Jun 2017	9 mo	-0.02%
93	Reliance Ports and Terminals Limited** corporate bond	—	0.35%	Oct 2017	5 mo	-0.03%
94	KKR India Financial Services Private Limited** corporate bond	—	0.33%	Jul 2017	8 mo	-0.02%
95	Sun Pharmaceutical Industries Limited equity	Pharmaceuticals	0.31%	Oct 2015	2.4 yrs	-0.73%
96	MAS Financial Services Limited equity	Finance	0.30%	Oct 2017	5 mo	-0.05%
97	Dalmia Cement (Bharat) Limited** corporate bond	—	0.30%	Sep 2017	6 mo	-0.01%
98	SBI Cards & Payment Services Private Limited** corporate bond	—	0.30%	Feb 2016	2.1 yrs	-0.05%
99	U.P. Power Corporation Limited** corporate bond	—	0.29%	Oct 2017	5 mo	-0.03%
100	Power Grid Corporation of India Limited** corporate bond	—	0.29%	Dec 2016	1.3 yrs	-0.02%
101	Sharda Cropchem Limited equity	Pesticides	0.27%	Sep 2014	3.5 yrs	-0.08%
102	Bayer Cropscience Limited equity	Pesticides	0.26%	Jan 2013	5.2 yrs	-0.47%
103	Tata Steel Limited - Fully Paid Up Rights ^ derivative	—	0.25%	Feb 2018	1 mo	+0.25%
104	Punjab National Bank** corporate bond	—	0.22%	Jul 2017	8 mo	-0.01%
105	Citibank N.A. money market	—	0.22%	Feb 2018	1 mo	+0.22%
106	NTPC Limited** corporate bond	—	0.16%	Sep 2014	3.5 yrs	-0.01%
107	Nuvoco Vistas Corporation Limited** corporate bond	—	0.15%	Nov 2016	1.3 yrs	-0.01%
108	NTPC Limited** corporate bond	—	0.15%	Sep 2016	1.5 yrs	-0.03%
109	Bajaj Finance Limited** corporate bond	—	0.14%	Feb 2017	1.1 yrs	-0.02%
110	Power Grid Corporation of India Limited** corporate bond	—	0.08%	Apr 2016	1.9 yrs	0.00%
111	East-North Interconnection Company Limited** corporate bond	—	0.07%	Dec 2016	1.3 yrs	-0.01%
112	Indian Railway Finance Corporation Limited** corporate bond	—	0.07%	Jul 2017	8 mo	-0.01%
113	ICICI Bank Limited corporate bond	—	0.06%	Sep 2017	6 mo	-0.01%
114	LIC Housing Finance Limited** corporate bond	—	0.06%	Mar 2017	1.0 yrs	0.00%
115	Tata Steel Limited - Partly Paid Up Rights ^ derivative	—	0.04%	Feb 2018	1 mo	+0.04%
116	Nuvoco Vistas Corporation Limited** corporate bond	—	0.04%	Sep 2016	1.5 yrs	-0.01%
117	TREPS / cash equivalents Net Receivables/Payables · cash equivalent	—	-0.02%	Jan 2013	5.2 yrs	+0.90%
118	SIP Technologies & Export Limited** equity	Software	—	Jan 2013	5.2 yrs	—

Showing 1–118 of 118 rows per page10 25 50all

Largest sectors, Feb 2018 · grey: a year ago

Banks13.2% · 19.2%

Finance8.9% · 2.8%

Construction Project5.1% · 6.6%

Cement5.1% · 3.8%

Consumer Non Durables5.1% · 8.5%

Auto Ancillaries4.1%

Pharmaceuticals3.5% · 2.9%

Industrial Products3.4%

share of the book05%10%15%

By market cap, Feb 2018

Large cap26.8%

Mid cap12.4%

Small / micro cap11.2%

Cash & equivalents2.1%

Not classified23.3%

Other24.3%

share of the book025%50%75%100%

"Not classified" is what no cap tier could be inferred for — newly listed names, or lines without an ISIN.

Composition by market cap, month by month — what the fund actually held against what its label says

Large cap 27%
Mid cap 12%
Small / micro 11%
Cash & other 2%

The seven checks, in full

each: the plain claim, where it sits in the category, and — folded — how it is measured and the case against. A flag fires only where headline and record disagree.

P4 Consistency, not a single end date

Not measurable yet. Needs at least three years of month-end NAV and a category median; not computed for this fund yet.

What this means. Take every three-year stretch since the fund had a NAV, one starting each month, and ask two things of each: did it beat the typical fund in its category, and by how much. Counting the wins tells you the record does not depend on when you happen to look; averaging the margin tells you whether winning often was worth anything, because four small wins do not pay for one large loss.

How it is measured, and the case against

A fund that beats its category in most rolling three-year windows has a record; one that beats it in a few has an end date. How often it won and by how much are different questions, and this card answers both, because a fund can win four windows in five and still be behind across all five.

How often has it beaten its category, across every window?

Why this might matterRolling every three-year window forward month by month gives hundreds of overlapping observations instead of one. A single end date decides a headline five-year figure; the share of windows won cannot be flattered by when you happen to look. The average margin across every window is that share and the payoff multiplied together — win share x average beat plus loss share x average shortfall is exactly the average — so a high share bought with a few ruinous windows cannot hide behind the count.

Why it might notRolling windows overlap heavily, so they are not independent observations and the true sample is far smaller than the count suggests — the card says how many non-overlapping windows the same span holds, and it is usually a handful. A fund that changed manager or mandate carries a record that is only partly its own. The average margin is only as meaningful as the category: where a category is a grab bag (“Other ETFs” holds gold beside equity), a large shortfall says the comparison is wrong, not that the fund is. And none of this forecasts: our own study found the share of windows won does not predict the next three years, and weighting it by payoff gives no reason to think otherwise.

P5 Cost, measured

Not measurable yet. Needs a Direct and a Regular growth class with overlapping NAV history.

What this means. The Regular and Direct plans hold the same portfolio; the Regular one pays a distributor out of your money every day. The gap between the two NAVs is that cost, measured from the NAVs rather than quoted from a document.

How it is measured, and the case against

The Direct plan is the same portfolio, priced differently; the divergence of the two NAVs is the cost, measured rather than quoted.

What does the Regular plan actually cost against its Direct twin?

Why this might matterSame manager, same holdings, same day. The gap between the two NAV series is the one number on this page that is knowable today rather than hoped for, and it compounds for as long as the units are held.

Why it might notA Regular plan buys advice. If that advice stops someone selling in a drawdown it can be worth more than the fee — the cost is visible and the behavioural saving is not, which makes this comparison unfair in exactly one direction.

P1 Churn, and what it bought

Turns over 79% of the portfolio a year

What this means. How much of the portfolio was bought and sold in a year, computed from what the fund disclosed each month. Trading costs something certain; the extra return it is meant to buy is not.

No category distribution for this measure yet.

excess return per unit of turnoverneeds the category 1-year median — not computed yet

How it is measured, and the case against

Turnover measured from consecutive disclosures — Σ|Δweight|/2 — costs something certain; the excess return it is meant to buy is not.

Is the trading paying for itself?

Why this might matterAMCs define their own turnover figure inconsistently. This one is computed from what the fund disclosed month to month, so two funds are comparable on it. Read it beside the excess return per unit of turnover.

Why it might notTurnover computed from month-end snapshots misses everything bought and sold inside a month, and a fund forced to sell by redemptions is charged for churn it did not choose.

P2 Conviction or inertia

Typical top-10 holding kept 22 months

What this means. How long a typical top-10 position has been in the top ten. Long-held positions are a decision; a top ten that changes every quarter is a reaction.

No category distribution for this measure yet.

active sharenot yet computable — needs index constituent files

How it is measured, and the case against

The median months a top-10 position has been held separates a portfolio somebody chose from one that drifted.

How long does a top-10 position stay a top-10 position?

Why this might matterConcentration is how a manager expresses conviction, and persistence is how long they keep it. Long-held positions with a rising weight are a decision; a top ten that turns over every quarter is a reaction.

Why it might notPersistence without active share is inertia: a portfolio of 166 names that tracks its category closely has diversified away the reason to pay for it. Active share needs index constituent files, which are not loaded yet.

P3 Hit rate of the top ten

Not measurable yet. Detector not yet written: needs each disclosure's top ten joined to six months of forward prices. Holdings and prices are in hand.

What this means. Take each month's ten largest holdings and check whether each one beat the typical stock its category holds over the next six months, and by how much. A blended return can hide two wins and eight losses; a count of wins can hide one position that lost half its value.

How it is measured, and the case against

A manager's largest bets, judged one by one over the following six months, say more than the fund's blended return — and how far each one beat or missed the median stock says more than counting how many did.

Of its top-10 positions, how often did they beat the category-median stock?

Why this might matterA fund can beat its category on two positions and lose on eight; the hit rate shows the pattern the aggregate hides. The average margin then shows what the hit rate hides in turn: six winners worth a point each do not pay for four losers worth ten, and only the margin says which happened.

Why it might notSix months is short, sizing matters more than counting, and a manager who is right on the biggest position and wrong on nine small ones has done their job — the margins here are unweighted, so they answer the counting question better, not the sizing one. Overlapping disclosures judge the same position again each month it is held, so one long-held winner is counted many times. And this is a description of six months already past, not a forecast of the next six.

P6 Size against edge

₹7 Cr

What this means. Where the fund sits by size in its category, and how much of its growth was money arriving rather than the portfolio compounding. A very large fund cannot buy what a small one can; size should buy a lower fee in return.

No category distribution for this measure yet.

AUM, Sep 2014 → Sep 2017₹0 Cr → ₹7 Cr (+4036% a year)

Assets under management, ₹ crore, Sep 2014 – Sep 2017

13 points · months without a factsheet figure use AMFI's quarterly average

How it is measured, and the case against

Past a certain size the smaller end of a mandate becomes unreachable, and the fund starts to look like its index; what size should buy in return is a lower expense ratio.

Has the fund outgrown the universe it invests in — and did size buy a lower fee?

Why this might matterSize narrows what the manager can meaningfully hold and should lower what the investor pays. Read the AUM history beside the expense ratio: a fund that has tripled through inflows while its Regular-plan TER sits above the category median has kept the benefit of scale for the house. The flow decomposition says how much of the growth was money arriving rather than the portfolio compounding.

Why it might notScale funds research teams, and plenty of large funds have gone on compounding for decades. Inflows follow performance, so a fund growing fast is usually one that did well; the constraint is real but not automatically binding, and a TER is a ceiling the AMC can cut at any time.

P7 Whose record is this

Not measurable yet. Needs manager names from the monthly factsheet archive; none were parsed for this fund yet.

What this means. How long the people running it now have been running it, read from the monthly factsheets. A five-year record earned under someone else is not evidence about these managers.

How it is measured, and the case against

A record earned under different people is not evidence about these ones.

Does the displayed record predate the people running it?

Why this might matterA five-year figure on a fund whose longest-serving manager joined two years ago is the house's record more than the person's. The tenure here comes from what each monthly factsheet named, so a change of hands is dated to the month it was disclosed, and the fund's return against its category can be read over exactly those months.

Why it might notFund houses have processes, research desks and mandates that outlast individuals, so a manager change is not a reset. Co-managed funds attribute the same months to every named manager, and a factsheet names the manager of record, not necessarily the person making the calls.

Tracking gap

the NAV the fund published, against the NAV its last disclosed portfolio would have produced at each day's prices

No signal. About 26% of this fund is outside listed Indian equity — a foreign or derivative sleeve, or debt — and there are no daily prices to replicate it with. A wrong signal would be worse than none.

Share classes

latest NAV per AMFI code

Plan	Option	NAV	Date
direct DSP BlackRock Balanced Fund - Direct Plan - Quarterly Dividend	idcw	₹15.49	8 Sep 2017
regular DSP BlackRock Balanced Fund - Regular Plan - Quarterly Dividend	idcw	₹14.99	8 Sep 2017

The Direct / Regular gap, in rupees

This fund does not have both a Direct and a Regular growth class in the data, so the gap cannot be measured.

A Regular plan buys advice. The fee is visible and the behavioural saving is not; both are shown, neither is netted off.

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