GEMGAZE

November 2020

The consistent performance of two out of four funds in the February 2020 GEMGAZE is reflected in all the funds holding on to their esteemed position of GEM in the November 2020 GEMGAZE. FT India Life Stage Fund of Funds and FT India Dynamic PE Ratio Fund of Funds, in view of their dismal performance, have been shown the exit door.

ICICI Prudential Advisor Series – Debt Management Fund (erstwhile ICICI Prudential Advisor Series – Dynamic Accrual Plan) Gem

ICICI Prudential Advisor Series – Dynamic Accrual Plan was launched in December 2003 as ICICI Prudential Advisor–Very Cautious as part of a five-plan Fund of Funds series: ICICI Prudential Advisor–Very Aggressive, ICICI Prudential Advisor–Aggressive (ICICI Prudential Advisor Series – Long Term Savings Plan w.e.f. December 6, 2013), ICICI Prudential Advisor–Moderate, ICICI Prudential Advisor–Cautious, and ICICI Prudential Advisor–Very Cautious (ICICI Prudential Advisor Series – Dynamic Accrual Plan w.e.f. June 17, 2015). ICICI Prudential Advisor Series – Dynamic Accrual Plan has been renamed as ICICI Prudential Advisor Series – Debt Management Fund w.e.f May 28, 2018. The AUM of the Debt Management Plan is Rs 166 crores. The scheme aims to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made primarily in the schemes of Prudential ICICI Mutual Fund having asset allocation to money market and debt securities. The top two holdings are ICICI Prudential Floating Interest Fund and ICICI Prudential Short-term Fund. The one-year return of the plan is 9.39% as against the category average of 10.12%. The expense ratio of the fund is 0.84%. The fund is benchmarked against the CRISIL Composite Bond Index. The fund has been managed by Mr. Manish Banthia since June 2017.

Birla Sunlife Active Debt Multi-manager FoF Scheme Gem

Birla Sunlife Active Debt Multi-manager FoF Scheme, which sports an AUM of Rs.8 crores, is an open-ended fund of funds scheme launched in December 2006. The scheme seeks to generate returns from a portfolio of pure debt-oriented funds accessed through the diverse investment styles of underlying schemes selected in accordance with the Birla Sunlife AMC process. The top two holdings are IDFC Banking Debt Fund and Aditya Birla Sunlife Credit Risk Fund. The one-year return of the fund is 8.94% as against the category average of 9.35%. The expense ratio of the fund is 0.68%. The fund is benchmarked against CRISIL Composite Bond Index. The fund has been managed by Mr. Pranay Sinha since August 2018.