ING Core Equity Fundis an open-ended fund investing predominantly in the Large cap sector. Across investment period, this fund has remained a steady performer and has delivered good returns. Investors with investment horizon of three years or more who are willing to take slightly higher amount of risk should consider investing in this fund, reckons Arnav Pandya.
Nature: Equity oriented open endedInception: May 1999
Assets under Management: Rs 72 crore at the end of January 2013
The fund had the highest exposure to Banks in its portfolio at the end of July 2011 with a share of 20 per cent followed by consumer non durables, software and petroleum products. ICICI Bank was the top individual holding at 6 per cent followed by Reliance Industries, ITC, Infosys and Aditya Birla Nuvo. The portfolio turnover ratio was high at 137 per cent and the benchmark for the fund was BSE 200. It was an outperformer over the benchmark over the one and three year time period.
Six months later banks remained the top sector in the fund followed by petroleum products, Pharma and Consumer non durables. The cash and cash equivalents in the portfolio had climbed above the 8 per cent mark. The top individual holding was Reliance Industries. Some of the other companies with a significant holding were Infosys, ICICI Bank, ITC, Max India and L&T. The portfolio turnover ratio had climbed even higher to over170 per cent though the fund remained a small outperformer over the one year period but not the three year one.
By the end of July 2012 banks, finance, consumer non durables and software were the top sectors in the portfolio. ITC was the top holding followed by ICICI Bank, HDFC, Infosys, Reliance Industries and SBI. The fund was an outperformer over the one and three year time periods.
Six months later there was a clear move towards banks in the portfolio as the share here was more than 27 per cent. Finance, petroleum products and consumer non durables were three other sectors that had an important share in the portfolio. Reliance Industries was the top individual holding followed by ICICI Bank, ITC, Federal Bank, J&K Bank, and HDFC. The portfolio turnover remained high at 150 per cent. The fund was an outperformer over the one and three year time periods.
Investors who have a time horizon of three years or more and want a blend of large cap and mid cap exposure can consider this fund as it has been consistent in its performance. The fund is also meant for those investors who would not mind a slightly higher risk in the portfolio.