Bank of India · Aggressive Hybrid

BANK OF INDIA AGGRESSIVE HYBRID FUND

Hybrid Schemes - Aggressive Hybrid Fund Direct plan, growth riskometer: Very high benchmark: NIFTY MidSmallcap 400 Total Return Index (TRI): 70%; CRISIL Short Term Bond Index: 30% launched 29 Jun 2016 open-ended

At a glance

the fund as it stands today, from public disclosures

NAV, 21 Sep 2026

₹47.82

−0.31% since 18 Sep 2026, the previous NAV

1 year

14.0%

return

3 years

17.8%

a year

5 years

15.2%

a year

Since launch

16.4%

a year, over 10.2 years

Assets (AUM)

₹1,958 Cr

Aug 2026 factsheet

Expense ratio, Direct / Regular

0.58% / 1.76%

a year, as of Aug 2026

Holdings

109

top ten are 25% of the fund · Aug 2026

Disclosed history

5.9 yrs

Oct 2020 – Aug 2026 · 5 of 11 checks could run

Fund managers

Alok Singh · since Feb 2017

All managers →

As the Aug 2026 factsheet printed it: portfolio turnover 1.03×. Exit load and minimum investment are not yet extracted from the scheme documents.

What only Anveshan can tell you

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

P5Cost, measured

Regular plan costs 1.16 percentage points a year more than Direct

₹43,507 on ₹1 lakh over ten years. Same portfolio, two prices — the difference is what the Regular plan's distribution costs you, read from the two NAVs.

See how it is measured →

P7Whose record

Run by Alok Singh for 9.6 yrs

A return earned before they arrived is the house's record, not theirs — the tenure table shows the fund against its category over exactly their months.

Alok Singh's other funds →

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

Beat its category in 74% of three-year stretches, and averaged +4.3 percentage points a year across all of them

87 rolling windows since 2016 · ahead by 6.9 percentage points a year when it won, behind by 2.8 when it lost. A single five-year figure depends on the day you look; the share of stretches won does not — and the average margin says whether winning often was worth anything.

See every window →

headline and record disagree One check found the headline number and the underlying record pointing different ways — marked on the cards below.

NAV and drawdown

Direct plan, growth class · as of 21 Sep 2026

Month-end NAV, indexed to 100 at Jul 2016

123 month-ends · ₹10.21 → ₹47.82, 4.7× since Jul 2016

Deepest fall (max drawdown)

−20.0%

11 Dec 2024 → 3 Mar 2025

Worst month

−9.2%

Feb 2025

Days to recover

413

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

Aug 2026 disclosure · 109 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	TREPS / cash equivalents TREPS · money market	—	6.55%	Apr 2026	5 mo	+2.12% points
2	Bank of Maharashtra equity	Banks	2.44%	May 2024	2.3 yrs	+0.45% points
3	Balrampur Chini Mills Limited equity	Agricultural Food & other Products	2.27%	Jan 2021	5.7 yrs	+0.91% points
4	Sterlite Technologies Limited equity	Telecom - Equipment & Accessories	2.10%	Apr 2026	5 mo	+0.35% points
5	UNO Minda Limited equity	Auto Components	2.06%	Oct 2020	5.9 yrs	−0.29% points
6	7.6% Power Finance Corporation Limited (13/04/2029) ** corporate bond	—	2.04%	Jul 2024	2.2 yrs	+1.59% points
7	Aurobindo Pharma Limited equity	Pharmaceuticals & Biotechnology	2.01%	Jan 2026	8 mo	−0.19% points
8	The Federal Bank Limited equity	Banks	2.00%	Jun 2026	3 mo	+2.00% points
9	Abbott India Limited equity	Pharmaceuticals & Biotechnology	1.89%	Jan 2023	3.7 yrs	−0.70% points
10	Mankind Pharma Limited equity	Pharmaceuticals & Biotechnology	1.89%	Jun 2026	3 mo	+1.89% points
11	Quality Power Electrical Eqp Ltd equity	Electrical Equipment	1.83%	Sep 2025	1.0 yrs	+0.04% points
12	Glenmark Pharmaceuticals Limited equity	Pharmaceuticals & Biotechnology	1.81%	Jul 2025	1.2 yrs	−0.39% points
13	One 97 Communications Limited equity	Financial Technology (Fintech)	1.80%	May 2026	4 mo	+1.33% points
14	Nippon Life India Asset Management Limited equity	Capital Markets	1.72%	Jan 2024	2.7 yrs	−0.40% points
15	Bharat Dynamics Limited equity	Aerospace & Defense	1.50%	Jul 2024	2.2 yrs	−0.38% points
16	Max Financial Services Limited equity	Insurance	1.48%	Feb 2026	7 mo	−0.58% points
17	7.44% National Bank For Agriculture and Rural Development (17/07/2029) ** corporate bond	—	1.45%	Aug 2026	1 mo	+1.45% points
18	JK Cement Limited equity	Cement & Cement Products	1.43%	Aug 2022	4.1 yrs	−0.27% points
19	Knowledge Marine & Engineering Works Limited equity	Engineering Services	1.31%	Aug 2026	1 mo	+1.31% points
20	Coromandel International Limited equity	Fertilizers & Agrochemicals	1.29%	Jan 2023	3.7 yrs	−0.04% points
21	Eris Lifesciences Limited equity	Pharmaceuticals & Biotechnology	1.28%	Jul 2023	3.2 yrs	−0.55% points
22	Hindustan Copper Limited equity	Non - Ferrous Metals	1.24%	Oct 2024	1.9 yrs	−0.43% points
23	TD Power Systems Limited equity	Electrical Equipment	1.22%	Aug 2026	1 mo	+1.22% points
24	ICICI Bank Limited (15/09/2026) ** # money market	—	1.22%	Jun 2026	3 mo	+1.22% points
25	United Spirits Limited equity	Beverages	1.20%	Jul 2026	2 mo	+1.20% points
26	HEG Limited equity	Industrial Products	1.17%	Oct 2024	1.9 yrs	−0.30% points
27	Petronet LNG Limited equity	Gas	1.17%	Feb 2026	7 mo	+0.47% points
28	Canara Bank (29/06/2027) # money market	—	1.15%	Jul 2026	2 mo	+1.15% points
29	Powerica Limited equity	Electrical Equipment	1.10%	Apr 2026	5 mo	−0.09% points
30	Turtlemint Fintech Solutions Limited equity	Financial Technology (Fintech)	1.10%	Jun 2026	3 mo	+1.10% points
31	Housing & Urban Development Corporation Limited equity	Finance	1.09%	May 2024	2.3 yrs	−0.52% points
32	Multi Commodity Exchange of India Limited equity	Capital Markets	1.08%	May 2026	4 mo	+0.03% points
33	KRN Heat Exchanger And Refrigeration Limited equity	Industrial Products	1.07%	Jun 2026	3 mo	+1.07% points
34	PB Fintech Limited equity	Financial Technology (Fintech)	1.02%	Feb 2024	2.6 yrs	−0.21% points
35	Dixon Technologies (India) Limited equity	Consumer Durables	1.01%	Mar 2026	6 mo	+0.31% points
36	Leela Palaces Hotels & Resorts Limited equity	Leisure Services	1.00%	Jan 2026	8 mo	+0.04% points
37	7.57% Indian Railway Finance Corporation Limited (18/04/2029) ** corporate bond	—	0.98%	Mar 2024	2.5 yrs	−0.30% points
38	7.40 % National Bank For Agriculture and Rural Development (29/04/2030) ** corporate bond	—	0.97%	Apr 2025	1.4 yrs	−0.30% points
39	Union Bank of India (15/09/2026) ** # money market	—	0.97%	Jul 2026	2 mo	+0.97% points
40	Jindal Stainless Limited equity	Ferrous Metals	0.96%	Sep 2021	5.0 yrs	−0.62% points
41	Canara HSBC Life Insurance company Ltd equity	Insurance	0.95%	Aug 2026	1 mo	+0.95% points
42	Arvind Limited equity	Textiles & Apparels	0.95%	Mar 2024	2.5 yrs	−0.12% points
43	Punjab National Bank (04/02/2027) ** # money market	—	0.95%	Jun 2026	3 mo	+0.95% points
44	Shreeji Shipping Global Limited equity	Transport Services	0.94%	Aug 2025	1.1 yrs	−0.85% points
45	Schaeffler India Limited equity	Auto Components	0.94%	Aug 2025	1.1 yrs	−0.34% points
46	Sundaram Finance Limited equity	Finance	0.89%	Feb 2026	7 mo	−0.19% points
47	7.47% Small Industries Dev Bank of India (05/09/2029) ** corporate bond	—	0.87%	Sep 2024	2.0 yrs	−0.28% points
48	Bharat Forge Limited equity	Auto Components	0.82%	Mar 2024	2.5 yrs	−0.50% points
49	7.1% Government of India (18/04/2029) government security	—	0.82%	Feb 2025	1.6 yrs	−0.26% points
50	Ajanta Pharma Limited equity	Pharmaceuticals & Biotechnology	0.81%	Oct 2020	5.9 yrs	−0.06% points
51	Titagarh Rail Systems Limited equity	Industrial Manufacturing	0.80%	May 2024	2.3 yrs	−0.02% points
52	Wework India Management Limited equity	Commercial Services & Supplies	0.78%	Mar 2026	6 mo	−0.12% points
53	GE Vernova T&D India Limited equity	Electrical Equipment	0.76%	Sep 2025	1.0 yrs	−0.40% points
54	Swan Corp Limited equity	Chemicals & Petrochemicals	0.75%	Dec 2023	2.8 yrs	−0.36% points
55	Punjab National Bank (12/03/2027) # money market	—	0.75%	Aug 2026	1 mo	+0.75% points
56	IPCA Laboratories Limited equity	Pharmaceuticals & Biotechnology	0.72%	Sep 2024	2.0 yrs	−0.02% points
57	Swan Defence And Heavy Industries Ltd equity	Industrial Manufacturing	0.72%	Mar 2026	6 mo	−0.08% points
58	Canara Bank (02/02/2027) ** # money market	—	0.71%	Jul 2026	2 mo	+0.71% points
59	ICICI Bank Limited (12/02/2027) ** # money market	—	0.71%	Feb 2026	7 mo	−0.21% points
60	Axis Bank Limited (12/02/2027) ** # money market	—	0.71%	Aug 2026	1 mo	+0.71% points
61	HDFC Bank Limited (24/02/2027) ** # money market	—	0.71%	Aug 2026	1 mo	+0.71% points
62	LIC Housing Finance Limited (23/02/2027) ** money market	—	0.71%	Aug 2026	1 mo	+0.71% points
63	Tempsens Instruments (India) Limited equity	Industrial Manufacturing	0.69%	Aug 2026	1 mo	+0.69% points
64	Goodluck India Limited equity	Industrial Products	0.68%	Sep 2025	1.0 yrs	−0.15% points
65	Ganesha Ecosphere Limited equity	Textiles & Apparels	0.66%	May 2023	3.3 yrs	−0.12% points
66	National Bank For Agriculture and Rural Development (17/03/2027) # money market	—	0.66%	Jun 2026	3 mo	+0.66% points
67	8.95% Vedanta Limited (16/03/2029) ** corporate bond	—	0.64%	Apr 2026	5 mo	−0.19% points
68	7.59% REC Limited (31/05/2027) ** corporate bond	—	0.63%	Jul 2026	2 mo	+0.63% points
69	MRF Limited equity	Auto Components	0.61%	Nov 2025	10 mo	−0.13% points
70	Atlanta Electricals Ltd equity	Electrical Equipment	0.61%	Mar 2026	6 mo	−0.51% points
71	Indian Bank (01/10/2026) ** # money market	—	0.61%	Jul 2026	2 mo	+0.61% points
72	Lloyds Metals And Energy Limited equity	Minerals & Mining	0.60%	Feb 2025	1.6 yrs	−1.97% points
73	Filatex India Limited equity	Textiles & Apparels	0.59%	Aug 2026	1 mo	+0.59% points
74	ICICI Bank Limited (27/01/2027) # money market	—	0.59%	Jul 2026	2 mo	+0.59% points
75	Radico Khaitan Limited equity	Beverages	0.55%	Jun 2023	3.3 yrs	−0.02% points
76	7.37% Indian Railway Finance Corporation Limited (31/07/2029) ** corporate bond	—	0.54%	Apr 2025	1.4 yrs	−0.16% points
77	Kotak Mahindra Bank Limited (21/12/2026) # money market	—	0.53%	Jul 2026	2 mo	+0.53% points
78	ETHOS LTD. equity	Consumer Durables	0.51%	Nov 2023	2.8 yrs	−0.03% points
79	7.50% Power Grid Corporation of India Limited (24/08/2033) ** corporate bond	—	0.51%	Aug 2023	3.1 yrs	−0.26% points
80	Torrent Power Limited equity	Power	0.50%	Mar 2023	3.5 yrs	−0.27% points
81	Indian Bank (17/09/2026) ** # money market	—	0.49%	Jul 2026	2 mo	+0.49% points
82	Kotak Mahindra Bank Limited (08/01/2027) # money market	—	0.48%	Jun 2026	3 mo	+0.48% points
83	Small Industries Dev Bank of India (26/02/2027) ** # money market	—	0.47%	Aug 2026	1 mo	+0.47% points
84	Canara Bank (12/03/2027) ** # money market	—	0.47%	Jun 2026	3 mo	+0.47% points
85	ICICI Lombard General Insurance Company Limited equity	Insurance	0.46%	Feb 2026	7 mo	−0.23% points
86	Zaggle Prepaid Ocean Services Limited equity	IT - Services	0.45%	Aug 2024	2.1 yrs	−0.22% points
87	Bajaj Finance Limited (02/09/2026) money market	—	0.44%	Aug 2026	1 mo	+0.44% points
88	6.48% Government of India (06/10/2035) government security	—	0.43%	Oct 2025	11 mo	−0.42% points
89	Triveni Engineering & Industries Limited equity	Agricultural Food & other Products	0.38%	Jan 2023	3.7 yrs	−0.26% points
90	Bank of Baroda (11/12/2026) ** # money market	—	0.34%	Aug 2026	1 mo	+0.34% points
91	Bharti Hexacom Limited equity	Telecom - Services	0.33%	Feb 2026	7 mo	−0.09% points
92	7.68% National Bank For Agriculture and Rural Development (30/04/2029) ** corporate bond	—	0.32%	May 2024	2.3 yrs	−0.10% points
93	Steel Authority of India Limited equity	Ferrous Metals	0.29%	Oct 2023	2.9 yrs	−1.27% points
94	7.73% Tata Capital Housing Finance Limited (14/01/2030) ** corporate bond	—	0.29%	Jan 2025	1.7 yrs	−0.09% points
95	Syrma SGS Technology Limited equity	Industrial Manufacturing	0.25%	May 2025	1.3 yrs	−1.09% points
96	TREPS / cash equivalents Net Receivables / (Payables) · cash equivalent	—	0.25%	Oct 2020	5.9 yrs	−0.16% points
97	7.6% Torrent Pharmaceuticals Limited (19/01/2029) ** corporate bond	—	0.24%	Feb 2026	7 mo	−0.08% points
98	6.90% LIC Housing Finance Limited (17/09/2027) ** corporate bond	—	0.24%	Jul 2025	1.2 yrs	−0.08% points
99	6.98% State Government Securities (29/09/2033) government security	—	0.24%	Sep 2025	1.0 yrs	−0.07% points
100	Bank of Baroda (05/03/2027) ** # money market	—	0.24%	Aug 2026	1 mo	+0.24% points
101	Motilal Oswal Financial Services Limited (05/02/2027) ** money market	—	0.24%	Feb 2026	7 mo	−0.06% points
102	Triveni Power Transmission Limited ** equity	Industrial Manufacturing	0.23%	Jul 2026	2 mo	+0.23% points
103	L&T Finance Limited (19/03/2027) ** money market	—	0.23%	Jun 2026	3 mo	+0.23% points
104	Indian Bank (04/12/2026) # money market	—	0.22%	May 2026	4 mo	−0.06% points
105	Onemi Technology Solutions Limited equity	Finance	0.18%	May 2026	4 mo	−0.20% points
106	8.35% Aditya Birla Real Estate Limited (30/08/2027) ** corporate bond	—	0.15%	Jun 2026	3 mo	+0.15% points
107	6.27% Power Finance Corporation Limited (15/07/2027) corporate bond	—	0.14%	Aug 2026	1 mo	+0.14% points
108	364 Days Tbill (MD 07/01/2027) government security	—	0.14%	Jan 2026	8 mo	−0.05% points
109	364 Days Tbill (MD 28/05/2027) government security	—	0.02%	Jun 2026	3 mo	+0.02% points

Showing 1–109 of 109 rows per page10 25 50all

Largest sectors, Aug 2026 · grey: a year ago

Pharmaceuticals & Biotechnology10.4% · 7.6%

Electrical Equipment5.5% · 2.5%

Banks4.4% · 3.0%

Auto Components4.4% · 4.6%

Financial Technology (Fintech)3.9%

Industrial Products2.9% · 2.5%

Insurance2.9%

Capital Markets2.8% · 4.5%

share of the book05%10%15%

By market cap, Aug 2026

Large cap1.2%

Mid cap43.6%

Small / micro cap21.9%

Cash & equivalents21.4%

Not classified0.2%

Other11.7%

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 1%
Mid cap 44%
Small / micro 22%
Cash & other 21%

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 headline and record disagree

Beat its category in 74% of three-year stretches, and averaged +4.3 percentage points a year across all of them

87 rolling windows since 2016 · ahead by 6.9 percentage points a year when it won, behind by 2.8 when it lost

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 often, and by how much. The count and the average agree. Ahead by 6.9 percentage points a year in the 64 windows it won and behind by 2.8 in the 23 it lost, so the average across all 87 is +4.3 percentage points. The worst window ended Feb 2021, 4.5 percentage points behind.

Why this matters: Can a fund beat its category most of the time and still be behind? 7 min

74%

lowest in categoryhighest in category

79th percentile · top quartile of 29 funds · category median 53%

windows measured87windows won64average across every window+4.30% points a year · median +5.50when ahead, by how much+6.86% points a year over 64 windowswhen behind, by how much−2.80% points a year over 23 windowsworst window−4.51% points a year, ended Feb 2021best window+11.43% points a year, ended Dec 2022non-overlapping windows in that span3 — the rolling count overlaps, this does not

Fund minus category, each rolling three-year window

ahead of categorybehind

Each bar is one window's margin in percentage points a year. The height of the bars, not the count of green ones, is what the average across every window measures.

A modest five-year number over a record that beat its category 74% of the time. Rolling every three-year window forward month by month gives hundreds of overlapping observations instead of one. This fund was ahead of its category median in 74% of them, which points the opposite way to the headline figure. A single end date decided that headline.

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.

P5 Cost, measured

Regular plan costs 1.16 percentage points a year more than Direct

₹43,507 on ₹1 lakh over ten years

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.

Why this matters: What does a Regular plan actually cost? 6 min

1.16% points a year

costliest in categorycheapest in category

62th percentile · above median of 29 funds · category median 1.25% points

on ₹1,00,000 over ten years₹43,507Direct vs Regular, annualised16.4% vs 15.2%measured over10.17 years

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 86% of the portfolio a year

+0.15% points of excess return per unit of turnover

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.

Why this matters: What does a monthly portfolio not tell you? 6 min

86% a year

costliest in categorycheapest in category

25th percentile · below median of 25 funds · category median 62%

excess return per unit of turnover+0.15% points

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 13 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.

13 months

lowest in categoryhighest in category

23th percentile · bottom quartile of 26 funds · category median 41 months

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

5 of 10 top picks beat their peers over the next 6 months, and averaged 4.7 percentage points ahead of them

650 positions judged, one disclosure at a time · ahead by 24.1 percentage points when it won, behind by 15.1 when it lost

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 often, and by how much. The count and the average agree. Ahead by 24.1 percentage points in the 328 positions it won and behind by 15.1 in the 322 it lost, so the average across all 650 is +4.7 percentage points. The worst position was INE807F01027 at the Apr 2021 disclosure, 62.7 percentage points behind.

Why this matters: Can a fund beat its category most of the time and still be behind? 7 min

50%

lowest in categoryhighest in category

44th percentile · below median of 24 funds

positions judged650beat the median stock328average across every position+4.68% points · median +0.19when ahead, by how much+24.12% points over 328 positionswhen behind, by how much−15.12% points over 322 positionsworst position−62.72% points, INE807F01027 at the Apr 2021 disclosurebest position+158.46% points, INE531E01026 at the Jul 2025 disclosure

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

₹1,958 Cr, 37th percentile in category; 80% of growth came from inflows

smaller than 63% of the funds in its category (26 funds) · AUM Aug 2023 → Aug 2026 · Regular plan expense ratio 2.25%

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.

37th percentile by AUM

largestsmallest

63th percentile · above median of 26 funds

median holding weight, trendfallingexpense ratio, Regular / Direct2.25% / 0.87% · category median 2.18%AUM, Aug 2023 → Aug 2026₹450 Cr → ₹1,958 Cr (+63% a year)of that change, from flows rather than returns80% net inflows · NAV +67% over the window

Assets under management, ₹ crore, Sep 2016 – Aug 2026

75 points · months without a factsheet figure use AMFI's quarterly average · Regular-plan expense ratio 3.07% in Jun 2018 → 2.25% in Sep 2026

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

Run by Alok Singh for 9.6 yrs

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.

Why this matters: Whose record is the three-year number? 5 min

9.6 yrs · Alok Singh

newest teamlongest-serving

73th percentile · above median of 11 funds · category median 6.5 yrs

running it nowAlok Singh (since Feb 2017)share of the fund's life under the longest-serving current manager94%changes of hands in the archivenone

Who ran it, month by month · factsheets through Sep 2026

running it nowearlier

Manager	Role	From	To	Fund vs category, those months	3-yr stretches won in tenure
Alok Singh	fund manager	Feb 2017	now	17.1% vs 12.4% p.a. (+4.73% points)	80% of 79

* dated by first appearance in the archive we hold, not by a date the factsheet printed. Co-managed months count for every manager named; a factsheet names the manager of record, not who made each call. All 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 33% 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 BANK OF INDIA AGGRESSIVE HYBRID FUND - DIRECT PLAN GROWTH	growth	₹47.82	21 Sep 2026
direct BANK OF INDIA AGGRESSIVE HYBRID FUND - DIRECT PLAN IDCW	idcw	₹36.75	21 Sep 2026
regular BANK OF INDIA AGGRESIVE HYBRID FUND - REGULAR PLAN GROWTH	growth	₹43.19	21 Sep 2026
regular BANK OF INDIA AGGRESSIVE HYBRID FUND - REGULAR PLAN IDCW	idcw	₹34.47	21 Sep 2026

The Direct / Regular gap, in money

Direct growth NAV: ₹47.82
Regular growth NAV: ₹43.19
NAV divergence to date: 10.7% — same portfolio, priced differently
Regular costs more by: 1.16% points a year
On ₹1,00,000 over ten years: ₹43,507

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

Compare with

same category, by size

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