Value Research

w w w. v a l u e r e s e a r c h o n l i n e . c o m

Fundcard

DSP BlackRock Micro Cap Fund - Direct Plan

Value Research Fund Rating as on Apr 30, 2016

Open-ended and Equity: Small Cap

Risk Grade

Below Average

Return Grade

High

NAV

Rs. 44.37 as on May 20, 2016

Net Assets

Rs. 2544.1 crore as on Apr 30, 2016

The contents of this Value Research Fund Card (the "Fund Card") published by Value Research India Private Limited are not intended to serve as professional advice
or guidance and the publisher takes no responsibility or liability, express or implied, whatsoever for any investment decisions made or taken by the readers of this
Fund Card based on its contents thereof. You are strongly advised to verify the contents before taking any investment or other decision based on the contents of this
Fund Card. The Fund Card is meant for general reading purposes only and is not meant to serve as a professional guide for investors. The readers of this Fund Card
should exercise due caution and/or seek independent professional advice before entering into any commercial or business relationship or making any investment decision or entering into any financial obligation based on any information, statement or opinion which is contained, provided or expressed in this Fund Card.
The Fund Card contains information, statements, opinions, statistics and materials that have been obtained from sources believed to be reliable and the publishers
of the Fund Card have made best efforts to avoid any errors and omissions, however the publishers of this Fund Card make no guarantees and warranties whatsoever, express or implied, regarding the timeliness, completeness, accuracy, adequacy, fullness, functionality and/or reliability of the information, statistics, statements,
opinions and materials contained and/or expressed in this Fund Card or of the results obtained, direct or consequential, from the use of such information, statistics,
statements, opinions and materials. The publishers of this Fund Card do not certify and/or endorse any opinions contained, provided, published or expressed in this
Fund Card. All disputes shall be subject to the jurisdiction of Delhi courts only.

DSP BlackRock Micro Cap Fund - Direct Plan

Rating:
Risk: Below Average
Return: High

Fund Performance Vs

Fund
(Rebased to 10,000)

History
NAV (Rs)
Total Return (%)
+/+/- S&P BSE Small Cap
Rank (Fund/Category)
52 Week High (Rs)
52 Week Low (Rs)
Net Assets (Rs.Cr)
Expense Ratio (%)

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

18.30
-

44.37
-1.55

151.45

15.14
2/41
45.07
36.80
2233.01

5.82

503.40

18.30
13.39
344.65

37.17
103.13
40.22
4/50
37.17
17.49
1623.67

45.07
21.24

11/36
2213.86

2.16

1.91

1.71

256.90

454.90

436.70

473.04

Quarterly Returns (%)

Top Holdings
Company

Sector

P/E

KPR Mills
Sharda Cropchem
SRF
Eveready Industries (I)
Atul
Navin Fluorine International
Aarti Industries
Finolex Cables
APL Apollo Tubes
DCB Bank
Cera Sanitaryware
Capital First
NIIT Technologies
Repco Home Finance Ltd.
Solar Industries
Indoco Remedies
8K Miles Software Services
Finolex Inds.
V-Guard Industries
Symphony
Manappuram Finance
Somany Ceramics
Majesco
Siti Cable Network
Mayur Uniquoters

Textiles
Chemicals
Textiles
FMCG
Chemicals
Chemicals
Chemicals
Engineering
Metals
Financial
Construction
Financial
Technology
Financial
Chemicals
Healthcare
Technology
Chemicals
Cons Durable
Cons Durable
Financial
Construction
Technology
Services
Textiles

21.90
22.00
19.10
33.80
20.80
22.70
16.80
20.50
102.50
13.10
31.10
28.90
14.90
27.70
52.90
29.00
21.00
32.20
54.60
12.20
29.80
208.50
23.70

% Assets

3.35
21.06
-4.95
-21.77
16.54
7.38
-2.89
12.97
14.05
9.50
-1.65
20.87
-18.14
-3.08
-7.68
-20.48
-18.64
31.91
26.24
-1.60
65.42
8.52
-12.99
4.97
-16.30

3.83
3.72
3.62
3.41
3.10
3.08
2.94
2.77
2.63
2.62
2.60
2.47
2.38
2.23
2.19
2.16
2.15
2.14
2.03
1.99
1.91
1.84
1.66
1.63
1.58

FUND STYLE
Investment Style

Portfolio Characteristics
60

Growth Blend Value

Capitalisation

2760
2.92
22.70
-

Large Medium Small

Total Stocks
Avg Mkt Cap (Rs.Cr)
Portfolio P/B Ratio
Portfolio P/E Ratio
3Y Earnings Growth (%)

YTD

2016
2015
2014
2013
2002

Q1

Q2

-7.22
8.23
10.38
-

0.85
35.96
1.08
-

Q3

Q4

Year

4.77
17.05
-2.98
-

6.02
15.65
25.64
-

21.24
103.13
-

Trailing Returns (%)

Return
Fund Category

Rank
Fund/Cat

Year-to-Date
11/36
-1.55 -3.85
3-Month
16.49 13.27
3/36
6-Month
6/36
3.60 -0.71
1-Year
3.66
1/34
10.17
2-Year
38.66 25.97
2/31
3-Year
1/28
40.49 30.53
5-Year
7-Year
10-Year
Return less than 1-year are absolute and over 1 year are annualised

Volatility Measurements

Fund

22.58
10.70
10.15
9.23
8.46
6.65
6.19
5.25
5.09
5.07

74.29
20.29
10.71
18.55
37.84
-

Risk Analysis

Top 10 Sector Weights (%)

Chemicals
Textiles
Construction
Financial
Engineering
Metals
Technology
Cons Durable
Automobile
Healthcare

SIP
Return

Standard Deviation
Sharpe Ratio
Beta
R-Squared
Alpha

20.07
1.60
1.06
0.65
26.36

Composition (%)
Equity
Debt
Cash

96.01
0.00
3.99

Returns as on May 20, 2016, Portfolio related data as on April 30, 2016

Value Research
w w w. v a l u e r e s e a r c h o n l i n e . c o m

Best Performance
YEAR

QUARTER

MONTH

Value Research Analysis

Fund Objective & Strategy

Small-cap stocks have offered quite a bumpy ride to investors since 2008.
But this is a fund which has navigated the ride very well to deliver a
consistent outperformance of the index throughout two market cycles.
The consistent show has earned it a four-star rating from 2015, with an
improvement in the ranking from three stars in the earlier years. About
75-85 per cent of its portfolio is invested in small caps, with a 15-20 per
cent mid-cap allocation. The fund's mandate requires 65 per cent of assets
to be invested in stocks that are not among the top 300 companies by
market cap, which gives it considerable flexibility in portfolio choices. In
practice, the fund has been overweight on small caps relative to the peers
and underweight on both mid- and large-cap holdings. It usually follows
a buy-and-hold strategy, giving the small-cap bets enough time to pay
off. In a category that has many funds that chase growth stocks, this fund
doesn't fight shy of buying cyclicals, provided it can see the prospects of
a turnaround and an improving ROCE. This is a rare small-cap fund to
have beaten its benchmark in every one of the last eight years from 2008.
It has also stayed ahead of the peers in every year but 2012. This gap
has widened of late with five-year and three-year returns beating the
benchmark by double-digit margins. The strong performance has seen
the fund's assets expanding rapidly and the fund has restricted fresh lumpsum investments. This fund provides a great alternative to directly
investing in the risky micro-cap segment of the market.

The aim of the fund is to seek

long-term capital appreciation
by investing in a portfolio that
is substantially constitutes of
stocks that are not part of the
top 300 companies by market
capitalisation. Focus of the
scheme is to deliver superior
long term performance by
selecting stocks of companies
those are uncorrelated to
broader markets & not sector
specific.

Portfolio Manager
Vinit Sambre
Since Jan 2013

Worst Performance
YEAR

Jay Kothari
Since Mar 2013

QUARTER

MONTH

Investment Information

All the graphs are rebased to 10,000

AMC
Website
Registrar
Launch
Benchmark
Plans (NAV)

: DSP BlackRock Investment Managers Ltd.

: www.dspblackrock.com
: Computer Age Management Services Ltd.
: January 2013
: S&P BSE Small Cap

Min Investment (Rs.)

: 1000
Min SIP Investment (Rs.)
: 500
Exit Load : 1% for redemption within 364 days

: Dividend (26.94) , Growth (44.37)

NAV

Value Research
w w w. v a l u e r e s e a r c h o n l i n e . c o m

How to Read the Fundcard - Equity

Value Research Rating, Risk and Return
z
z
z

Fund Rating The Value Research Fund Rating is a 1 to 5 star rating that is based on the returns that an equity fund has generated over the previous three and five years, while taking into account the risks that the fund has taken. This rating is relative to other fund of the same type.
Risk Grade A five-step grading of the riskiness of a fund, based on the losses it has suffered during the past five years. This grade is relative to
other fund of the same type.
Returns Grade A five-step grading of the returns of a fund. This grade is relative to other fund of the same type.

History
Data on the funds performance
since its launch.
z NAV (Year End) The last
NAV of each year.
z Total Return The percentage returns that an investor
would have got over the
year.
z +/- In the given year, a
comparison of the funds
returns with that of two stock
market indices
z Rank The funds performance rank within its category
for the year and the total
number of funds out of
which it has been ranked.
z 52-Week NAV Range The
highest and the lowest NAV
that the fund recorded during that year
z Net Assets The total
amount of investors assets
that the fund was managing
at the end of the year.
z Expense Ratio The percentage of the average daily
assets that the fund charged
as its management expenses during the year.

Top Holdings

Rating:
Risk: Low
Return: Above Average

Graph of how an investors money

would have grown in the fund since
its launch. A similar graph of the
funds benchmark index is also
given. For ease of comparison,
both have been adjusted to start at
10,000.

Fund Performance Vs S&P CNX Nifty

90000
70000

Fund
S&P CNX Nifty
(Rebased to 10,000)

50000
30000
10000

History

2001

2002

NAV (Rs)

10.33

19.71

23.94

33.94

50.13

81.34

41.89

Total Return (%)

1998

90.80

21.46

41.77

47.70

62.26

-48.50

+/-S&P CNX Nifty (%)

1999

2000

2003

2004

18.90

2005

10.78

2006

5.43

7.87

2007

7.49

2008

3.29

+/-BSE 200 (%)

-3.67

5.77

7.97

8.12

1.82

7.96

Rank (Fund/Category)

54/70

50/79

65/101

27/145

71/162

34/192

52 Week High (Rs)

10.33

19.71

23.94

33.94

50.76

81.46

83.52

52 Week Low (Rs)

8.84

9.91

16.36

22.34

32.26

46.06

36.49

Net Assets (Rs.Cr)

51.40

15.15

9.11

140.54

124.74

374.84

343.03

Expense Ratio (%)

2.49

2.50

2.50

2.50

2.50

2.35

2.31

Top Holdings
Company

Sector

Bharti Airtel
Reliance Industries
ONGC
HDFC Bank
HDFC
Satyam Computer Services
ITC
Axis Bank
Infosys Technologies
United Spirits
ICICI Bank
Dr. Reddy's Lab
State Bank of India
Crompton Greaves
Indian Oil
Cipla
Sterlite Industries
Reliance Communications
Jindal Steel & Power
Larsen & Toubro
Zee Entertainment
CESC
Tata Consultancy Services
ING Vysya Bank
Nestle India

Communication
Energy
Energy
Financial
Financial
Technology
FMCG
Financial
Technology
FMCG
Financial
Health Care
Financial
Engineering
Energy
Health Care
Metals
Communication
Metals
Diversified
Services
Energy
Technology
Financial
FMCG

Portfolio Characteristics
Total Stocks

P/E

2008 Ret

% Assets

18.56
11.50
8.31
20.67
17.10
7.86
21.00
10.42
14.29
23.26
9.49
13.61
9.39
12.29
-22.87
11.81
22.87
7.07
17.65
16.01
6.21
12.79
8.89
26.11

-28.10
-57.30
-46.00
-42.26
-48.21
-62.12
-18.47
-47.82
-36.79
-55.48
-63.62
-36.12
-45.67
-65.84
-46.33
-12.09
-74.80
-69.56
-70.31
-62.88
-57.45
-62.11
-55.87
-50.78
-3.14

6.49
5.42
4.50
3.93
3.51
3.16
2.72
2.70
2.64
2.34
2.26
2.19
2.13
2.12
1.95
1.70
1.61
1.51
1.46
1.43
1.41
1.37
1.36
1.35
1.23

FUND STYLE
Investment Style

39

Growth Blend Value

28180

Portfolio P/B Ratio

3.03

Portfolio P/E Ratio

13.70

Capitalisation

Avg Mkt Cap (Rs.Cr)

Quarterly Returns (%)

Quarterly Returns (%)

Large Medium Small

A detailed report on the latest

investment portfolio that the fund
is holding. For each company,
the sector, the P/E ratio, and the
years returns are given. Also
stated is the percentage of the
funds investments that are
invested in that company.

Fund Performance Vs Index

Birla Sun Life Frontline Equity Fund

2008
2007
2006
2005
2004

Q1

Q2

Q3

Q4

Year

-24.24
-1.42
19.42
-0.04
0.71

-14.18
14.53
-7.25
6.52
-13.50

-2.23
16.01
19.39
23.26
15.08

-18.97
23.88
11.70
8.02
21.15

-48.50
62.26
47.70
41.77
21.46

Trailing Returns (%)

Fund

Return
Category

Rank
Fund/Cat

Fund Style

Aggregate measures regarding

the funds investments. The market capitalisation, P/B ratio and
P/E ratio are weighted averages
of the latest numbers of the companies that the fund is invested
in. Three Year Earnings Growth
is the weighted average of the
compounded average growth in
the net profits of each company.

A nine-cell matrix of the overall style

of investment that the fund follows,
based on its latest portfolio. On the
vertical axis, the three steps denote
the weighted average market capitalisation of the funds investments. The
horizontal axis denotes, on a weighted average basis, whether the companies that the fund has invested in
are value stocks, growth stocks, or a
blend of the two.

S&P
CNX Nifty

Year-to-Date
-48.50 -55.29
34/192
-51.79
3-Month
-18.97 -22.88
41/213
-24.53
6-Month
-20.78 -27.09
38/209
-26.76
1-Year
-48.50 -55.29
34/192
-51.79
2-Year
-8.59 -16.06
22/158
-13.63
3-Year
7.27 -1.39
12/134
1.42
5-Year
16.27 12.91
19/67
9.50
7-Year
10-Year
Return less than 1-year are absolute and over 1 year are annualised

Financial
Energy
Communication
Technology
FMCG
Health Care
Engineering
Metals
Services
Diversified

SIP
Return

-40.18
-0.86
-33.43
-40.18
-24.19
-9.43
9.90
-

Risk Analysis

Top 10 Sector Weights (%)

Fund

Nifty

Volatility Measurements

16.24
14.67
8.00
7.16
6.29
5.00
4.01
3.07
2.93
1.43

11.90
37.49
11.34
10.95
6.85
2.74
5.26
4.43
0.28
2.97

Standard Deviation

3Y Earnings Growth (%)

9.80
Returns as on 31st December 2008, Portfolio related data as on 30th November 2008

Portfolio Characterstics

The funds returns over each quarter of the last five years, along with
the entire years returns.

Top 10 Sector
Weights (%)
The percentage of
the equity investments of the fund
that fall under each
sector of the economy. The top 15 sectors for each fund
are given.

28.32

Sharpe Ratio

0.21

Beta

0.88

R-Squared

0.96

Alpha

4.77

Composition (%)
Equity
Debt
Cash

71.37
18.46
10.17

Composition (%)
The proportion of
the funds holdings
that are held in
each of the three
basic types of
assets.

Trailing Returns (%)

Performance data for various standard periods. All returns are in percentage. Periods greater than a
year are annualised, shorter periods are not.
z Fund The funds own
returns.
z Category The average
returns for all funds in the category.
z Rank The funds rank, out of
the total number of funds in the
category
z Index The returns of the
funds benchmark index.
z SIP Return (Annualised)
The return that an investor
would have made by investing
in the funds monthly systematic investment plan over the
period.

Risk Analysis
A range of statistical measures that
can be used to evaluate the performance, risk, and return of a
mutual fund.