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Nippon India Large Cap Fund

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Nippon India Large Cap Fund
Morningstar India - 17 June 2020

Sailesh Raj Bhan joined Reliance (now Nippon India Mutual Fund) in 2003. He took on the role of a portfolio manager at the fund company in 2004 and has since gained considerable experience running diversified and sector funds.

Sailesh Raj Bhan plies a growth-at-a-reasonable-price strategy. Typically, he prefers companies with healthy or rising ROEs. He doesn’t mind paying more for a stock if he believes it has sustainable advantages and good growth prospects. But he is not indifferent to valuations. Bhan pays heed to qualitative issues when evaluating a company. He uses fundamental research to scout for companies with sustainable business models, strong management teams, and durable competitive advantages. The top-down approach isn’t ignored as factors such as interest rates and currency movement are considered. Bhan works closely with analysts who maintain discount cash flow or relevant quantitative models. Sell-side research is used, especially in the large-cap space where adequate coverage is available. At its core, the process is uncomplicated. However, Bhan’s research-orientation gives the process an edge over a typical growth-oriented approach. Taking cash calls is not a part of the strategy.

Sailesh Raj Bhan is benchmark-aware, but he takes reasonable sector deviations if his top-down view suggests so. Hence, he scouts for businesses which are established, have a track record, or have dominance in their area.

 

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