Motilal Oswal Asset Management Company Ltd. (MOAMC) is a public limited company incorporated under the Companies Act, 1956 on November 14, 2008, having its Registered Office at 10th Floor, Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai - 400025.
Motilal Oswal Asset Management Company Ltd. has been appointed as the Investment Manager to Motilal Oswal Mutual Fund by the Trustee vide Investment Management Agreement (IMA) dated May 21, 2009, executed between Motilal Oswal Trustee Company Ltd. and Motilal Oswal Asset Management Company Ltd.
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Motilal Oswal Asset Allocation Passive Fund of Fund – Aggressive (G) - 10.6741Motilal Oswal Asset Allocation Passive Fund of Fund – Aggressive-Dir (G) - 10.6893Motilal Oswal Asset Allocation Passive Fund of Fund – Conservative (G) - 10.5364Motilal Oswal Asset Allocation Passive Fund of Fund – Conservative-Dir(G) - 10.5532Motilal Oswal Dynamic Fund (Div-A) - 13.5064Motilal Oswal Dynamic Fund (Div-Q) - 12.0966Motilal Oswal Dynamic Fund (G) - 14.9036Motilal Oswal Dynamic Fund-Dir (Div-A) - 13.6715Motilal Oswal Dynamic Fund-Dir (Div-Q) - 12.2594Motilal Oswal Dynamic Fund-Dir (G) - 15.7315Motilal Oswal Equity Hybrid Fund - Direct (G) - 14.9593Motilal Oswal Equity Hybrid Fund - Regular (G) - 14.3119Motilal Oswal Flexi Cap Fund(D) - 24.9521Motilal Oswal Flexi Cap Fund(G) - 33.1944Motilal Oswal Flexi Cap Fund-Dir(D) - 24.9694Motilal Oswal Flexi Cap Fund-Dir(G) - 35.5144Motilal Oswal Focused 25 Fund - Direct (D) - 20.4246Motilal Oswal Focused 25 Fund - Direct (G) - 34.8895Motilal Oswal Focused 25 Fund (D) - 18.3723Motilal Oswal Focused 25 Fund (G) - 31.3034Motilal Oswal Large and Midcap Fund - Dir (D) - 15.0008Motilal Oswal Large and Midcap Fund - Dir (G) - 15.0008Motilal Oswal Large and Midcap Fund (D) - 14.57Motilal Oswal Large and Midcap Fund (G) - 14.57Motilal Oswal Liquid Fund - Direct (Div-D) RI - 10.0077Motilal Oswal Liquid Fund - Direct (Div-F) RI - 10.0068Motilal Oswal Liquid Fund - Direct (Div-M) - 10.0442Motilal Oswal Liquid Fund - Direct (Div-Q) - 10.0694Motilal Oswal Liquid Fund - Direct (Div-W) RI - 10.0083Motilal Oswal Liquid Fund - Direct (G) - 11.1042Motilal Oswal Liquid Fund - Regular (Div-D) RI - 10.0055Motilal Oswal Liquid Fund - Regular (Div-F) RI - 10.0066Motilal Oswal Liquid Fund - Regular (Div-M) - 10.0434Motilal Oswal Liquid Fund - Regular (Div-Q) - 10.0663Motilal Oswal Liquid Fund - Regular (Div-W) RI - 10.0154Motilal Oswal Liquid Fund - Regular (G) - 11.0628Motilal Oswal Long Term Equity Fund (D) - 18.9673Motilal Oswal Long Term Equity Fund (G) - 24.1448Motilal Oswal Long Term Equity Fund -Dir (D) - 22.5586Motilal Oswal Long Term Equity Fund -Dir (G) - 26.3202Motilal Oswal Midcap 30 Fund (D) - 21.9396Motilal Oswal Midcap 30 Fund (G) - 35.9137Motilal Oswal Midcap 30 Fund-Dir (D) - 22.6487Motilal Oswal Midcap 30 Fund-Dir (G) - 39.3237Motilal Oswal Multi Asset Fund - Direct (G) - 10.7049Motilal Oswal Multi Asset Fund (G) - 10.5652Motilal Oswal Nasdaq 100 FOF - Direct (G) - 21.7182Motilal Oswal Nasdaq 100 FOF - Regular (G) - 21.4982Motilal Oswal Nifty 50 Index Fund - Direct (G) - 13.1123Motilal Oswal Nifty 50 Index Fund (G) - 13.0304Motilal Oswal Nifty 500 Fund - Direct (G) - 15.2785Motilal Oswal Nifty 500 Fund (G) - 15.1033Motilal Oswal Nifty Bank Index Fund - Direct (G) - 12.6493Motilal Oswal Nifty Bank Index Fund (G) - 12.505Motilal Oswal Nifty Midcap 150 Index Fund (G) - 17.9037Motilal Oswal Nifty Midcap 150 Index Fund-Dir (G) - 18.1149Motilal Oswal Nifty Next 50 Index Fund - Dir (G) - 13.6955Motilal Oswal Nifty Next 50 Index Fund (G) - 13.5607Motilal Oswal Nifty Smallcap 250 Index Fund (G) - 18.3538Motilal Oswal Nifty Smallcap 250 Index Fund-Dir(G) - 18.5688Motilal Oswal S&P 500 Index Fund - Direct (G) - 14.0875Motilal Oswal S&P 500 Index Fund (G) - 13.9767Motilal Oswal Ultra Short Term Fund - Dir (Div-D) - 9.91Motilal Oswal Ultra Short Term Fund - Dir (Div-F) - 9.9314Motilal Oswal Ultra Short Term Fund - Dir (Div-M) - 9.9171Motilal Oswal Ultra Short Term Fund - Dir (Div-Q) - 10.0598Motilal Oswal Ultra Short Term Fund - Dir (Div-W) - 9.921Motilal Oswal Ultra Short Term Fund - Dir (G) - 14.0415Motilal Oswal Ultra Short Term Fund (Div-D) - 9.8772Motilal Oswal Ultra Short Term Fund (Div-F) - 9.8877Motilal Oswal Ultra Short Term Fund (Div-M) - 9.8777Motilal Oswal Ultra Short Term Fund (Div-Q) - 10.0212Motilal Oswal Ultra Short Term Fund (Div-W) - 9.8807Motilal Oswal Ultra Short Term Fund (G) - 13.6038

A note on Motilal Oswal Midcap 30 Fund

Blog Blog Details
  • April 03, 2020
  • Akash Singhania|
  • Fund Manger
Fund Update:

Motilal Oswal Midcap 30 Fund is an actively managed equity fund with the objective of creating long term wealth for the investors. It is a truly active fund with only 14.9% overlap with the benchmark, while the average for all peers is much higher at 28.6%. We believe in holding a meaningful weightage of all the stocks in our portfolio in order to generate alpha for the investors. Our fund holds only 24 stocks versus the peer average of 54 stocks. These strategies have allowed us to consistently outperform the benchmark in six of the previous eight quarters delivering an absolute outperformance of more than 20% since February 2018. For returns delivered, the fund is ranked one amongst all its peers on a one year basis. The fund has delivered a CAGR return of 18% since inception, 3% ahead of the benchmark. Our stock picking framework – QGLP, (Q-Quality, G-Growth, L-Longevity, P-Price ) is reflected in the key ratios of the fund– Quality – Weighted ROE for the fund is 20.9% vs 7.9% for the benchmark, Debt to Equity is 0.1 for the Fund (ex- BFSI). Growth – Weighted Average PAT growth for the fund has been 23% for the last 9 quarters whereas it is -6% for the benchmark.
The above portfolio statistics have been computed by considering Midcap peer funds (wherein there is no restriction on number of stocks). The concept is for illustration purpose only and should not be used for development or implementation of an investment strategy and investment advice to any party. (Source: Bloomberg and internal analysis; Data as on 29th Feb 2020; Quality and growth ratios as on December 2019 quarter end)

We believe some exciting themes will play out in the upcoming decade and have appropriately invested in these –

1.   Value Migration – More efficient and effective private players are overturning the legacy of PSUs across industries – AU Small Finance Bank, City Union Bank, Nippon Life India Asset Management are our plays on this story.
2.   Consolidation – Leaders in various industries are able to deliver better growth, higher margins while having better financials allowing them to outcompete their peers – Hindustan Unilever, Voltas, Titan, Crompton Greaves Consumer Electricals are our picks.
3.   Demographic – With increasing consumerism and urbanization, there is a drive towards premium consumer products – Jubilant Foodworks, Bata, Page Industries, Avenue Supermart may benefit from this drive.
4.   Reform Driven – As seen from GST, RERA and Demonetisation the government is actively trying to promote business migration from the unorganized market to the organized market – Asian Paints, Astral Poly Technik, TTK Prestige, Havells India are likely to make the most of this.

The fund is primarily focused towards consumer and financial sector.

The midcap space tends to be more volatile than large caps, only seasoned investors who are investing for the long term i.e. at least 3 years or more should invest in this fund. Although volatile, midcaps in the past have given better returns than largecaps as there are more opportunities with low analyst coverage and institutional holding in the midcap space. The fund is well positioned to create long term wealth growth for the investor.

Market crashes are swift and sharp and threats garner more mindshare than opportunities. The same is true this time with a global meltdown triggered by corona virus spread and lockdowns. One needs to assess the duration and impact of this disruption. Directionally major economic impact may last from three months to a year for most companies. The relevant question to ask is whether its affects terminal value of business enterprises. Growth may take a hit for a year but does it alter the longer term earnings trajectory of the broader markets. Does the market correction factors such temporary near term disruption? Are valuations attractive?

  Valuations – Compressed and reasonable now; Nifty is trading at 16x TTM earnings, almost at its long term average valuation. It was trading at 25x in January 2020 and the froth has vanished. (Source: Bloomberg)

  Corona Virus issue – Earnings for companies will take a hit ranging from 3 months to a year. However, this doesn’t alter terminal value of companies; it’s more of a near term disruption and doesn’t alter long term trajectory of earnings.

  Fall in inflation, current account deficits, interest rates due to lower oil prices will benefit the economy making the macros much stronger. Lower oil prices are a long term positive for Indian economic fundamentals.

  Globally, Government is announcing stimulus/steps, in India welfare steps are already announced, stimulus is on the cards.

  Global central banks are on easing mode and RBI has cut rates and injected liquidity into the banking system.

  Lot of panic and fear already witnessed in the markets, sentiment is negative; though market positioning is attractive for long from valuation perspective; the current sentiment reminds me of the famous quote: Be greedy when others are fearful and be fearful when others are greedy.

The recovery begins not when we see light at the end of the tunnel, but when it’s a shade less dark than it was before.

Date of inception: 24-Feb-14. Incase, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. The NAV per unit shown in the table is as on the start date of the said period. Past performance may or may not be sustained in the future. Performance is for Regular Plan Growth option. Different plans have different expense structure. Mr. Akash Singhania is the Fund Manager for equity component since 28-Jul-2017; Mr. Niket Shah is the Associate Fund Manager since March 1, 2018 and Mr. Abhiroop Mukherjee is the Fund Manager for debt component since 24-Feb-2014

Performance of the other funds managed by Mr. Akash Singhania are available on www.motilaloswalmf.com

Mutual Fund investments are subject to market risks. Please read the offer document carefully before investing.

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