DSP India T.I.G.E.R. Fund - Regular Plan - Growth INF740K01151

DSP Tiger earns an Average Process Pillar rating.

The most substantial contributor to the rating is the fund's impressive 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. Management team experience, which averages 15 years at this fund, also bolsters the rating. However, the process is limited by the parent firm's five-year risk-adjusted success ratio of 46%. 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 subpar success ratio suggests that the firm could do better across its fund lineup.

This strategy skews toward smaller, higher-growth companies compared with its average peer in the Equity - Infrastructure Morningstar Category. Looking at additional factor exposure, this strategy has consistently had a defensive tilt owing to its exposure to high-quality stocks over the past few years. Though it may trail peers during an economic boom, this orientation contributes to helping it weather periods of economic stress better. In recent months, the strategy was more exposed to the Quality factor compared with its Morningstar Category peers as well. This strategy also has had lower yield exposure than peers over these years; its portfolio has held fewer stocks with high dividend or buyback yields. Returning capital to shareholders often is not the highest priority of such businesses. The shares of such companies can deliver strong returns if they fulfill their growth projections, but they also carry more risk. In the most recent month, however, the fund's Yield exposure was in line with the Morningstar Category average. In addition, this strategy has taken on exposure to high-momentum stocks in these years. Momentum strategies wager that market outperformers will continue to outperform, and laggards will continue to lag. Higher exposure to the former could mean the managers are overweighting stocks on winning streaks. In this month, the strategy also had more exposure to the Momentum factor over 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 consumer cyclical by 4.3 percentage points in terms of assets compared with the category average, and its healthcare allocation is similar to the category. The sectors with low exposure compared with category peers are financial services and utilities, with financial services underweighting the average portfolio by 3.7 percentage points of assets and utilities similar to the average. The portfolio is composed of 77 holdings and is similarly diversified as peers, with 30.6% of portfolio assets concentrated within the top 10 holdings.