Canara Robeco Infrastructure Direct Plan Growth INF760K01FO9

Canara Robeco Infrastructure earns an Above Average Process Pillar rating.

The most meaningful contributor to the rating is the fund's strong long-term risk-adjusted performance. This can be seen in its five-year alpha calculated relative to the category index, which suggests that the managers have shown skill in their allocation of risk. The stability of the management team also contributes to the process. Specifically, the fund has not seen a manager change in the last four years. However, the process is limited by the parent firm's five-year risk-adjusted success ratio of 40%. The measure indicates the percentage of a firm's funds that have outperformed their respective category's median return for the period. The parent's relatively low success ratio suggests that the firm could do better across its fund lineup.

This strategy tends to hold larger, more growth-oriented companies than its average peer in the Equity - Infrastructure Morningstar Category. Analyzing additional factors, this strategy has consistently had exposure to high-momentum stocks compared with Morningstar Category peers over the past few years. Momentum approaches bet that rising stocks will continue to rise and that lagging stocks will continue to lag. In recent months, the strategy was more exposed to the Momentum factor compared with its Morningstar Category peers as well. This strategy also has had a defensive tilt, with exposure to higher-quality stocks compared with peers in recent years. Such holdings could cause it to trail peers during economic booms, but help it better endure busts. Compared with category peers, the strategy also had more exposure to the Quality factor in the most recent month. Additionally, this strategy has demonstrated a tilt toward low-volatility stocks in these years, meaning companies with a lower historical standard deviation of returns over its peers. These companies have historically been a valuable ballast to steady portfolio returns during market downturns. In this month, however, the strategy had more exposure to the Volatility factor than its peers. More information on a fund and its respective category's factor exposure can be found in the Factor Profile module within the Portfolio section.

The portfolio is overweight in industrials and technology relative to the category average by 7.5 and 5.3 percentage points, respectively. The sectors with low exposure compared with category peers are basic materials and financial services, underweight the average by 8.1 and 2.9 percentage points of assets, respectively. The portfolio is composed of 49 holdings and is relatively concentrated. Specifically, 38.5% of the fund’s assets are housed within the top 10 holdings, compared with the typical peer's 27.6%. And finally, in terms of portfolio turnover, looking at year-over-year movements, 27% of the fund's holdings have turned over, whether through increasing, decreasing, or changing a position.