What are your views on the new fund manager of Aditya Birla Sun Life Small Cap fund and its recent portfolio changes?
There are few aspects which needs to be considered while evaluating this fund.
The fund has witnessed series of changes in its lead manager over the last few years. Jayesh Gandhi managed this fund from December 15, 2014 to May 14, 2020. After his exit, the fund’s reins were transferred to Dhaval Gala, Kunal Sangoi and Nitish Jain.
This took place on May 14, 2020. On April 1, 2022 Kunal and Dhaval relinquished its management responsibilities. Currently, Vishal Gajwani and Nitish Jain co-manage this fund.
Vishal has been with Aditya Birla since March 2013. He started with its PMS division where he was head – alternative investment. He joined the AMC in April 2022. He has prior portfolio management experience. Nitish on the other hand has been with the AMC since 2018. He started-off as a senior analyst and is an in-house mid and small cap expert. However, this is his first stint at fund management.
The frequent changes at the helm resulted in the restructuring of the portfolio, which hasn’t bode well for the fund. Its performance has not been impressive across time frames.
With the change in manager again, one can expect another round of restructuring in the portfolio as each manager try to align the portfolio in line with his thought process.
There is a scope for improvement in the fund. Until there is more evidence of stability at the fund’s helm, portfolio getting stabilised and its performance coming back on track, you can consider other funds from the small cap category, with established track record.
While we do not analyse the fund in question, here is an analysis of other equity funds from the AMC.
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Articles authored by HIMANSHU SRIVASTAVA
