DSP Mutual Fund
DSP Mutual Fund
Part 1: Introduction, Fund Managers, and Scope
Introduction
DSP Mutual Fund is one of India's most respected and long-standing asset management companies (AMCs), with a legacy spanning over 150 years in financial markets. The DSP Group's involvement in financial services dates back to the 1860s, starting in the stock-broking business. DSP Mutual Fund, as a formally constituted mutual fund, was established in December 1996.
The AMC's journey has seen key partnerships, notably a joint venture with Merrill Lynch, which led to the name DSP Merrill Lynch Asset Management Company. Following BlackRock's acquisition of Merrill Lynch's global asset management business, it became DSP BlackRock Investment Managers Ltd. in 2008. In a significant strategic move in 2018, the DSP Group acquired BlackRock Inc.'s 40% stake, making DSP Mutual Fund a wholly-owned subsidiary of the DSP Group.
Headquartered in Mumbai, DSP Mutual Fund is known for its research-driven investment approach, strong ethical practices, and commitment to long-term value creation for its investors. It caters to a wide spectrum of clients, including retail and institutional investors, offering a diverse range of mutual fund products across equity, debt, and hybrid categories.
Fund Managers
DSP Mutual Fund prides itself on a robust and experienced team of fund managers who bring deep market knowledge and a disciplined approach to managing the schemes. Key fund managers include:
- Mr. Kalpen Parekh: Managing Director & Chief Executive Officer.
- Mr. Vinit Sambre: Head - Equities. Known for his expertise, particularly in mid and small-cap segments.
- Mr. Anil Ghelani: Head - Passive Investments & Products.
- Mr. Sandeep Yadav: Head – Fixed Income.
- Mr. Rohit Singhania: Co-Head Equities & Fund Manager.
- Ms. Aparna Karnik: Head - Quantitative Investments and Analytics (QIA).
- Mr. Jay Kothari: Fund Manager.
- Mr. Resham Jain: Fund Manager.
- Mr. Charanjit Singh: Fund Manager.
- Mr. Chirag Dagli: Fund Manager.
- Mr. Abhishek Singh: Fund Manager.
- Mr. Diipesh Shah: Fund Manager (Passive Funds).
- Mr. Vivek Ramakrishnan: Fund Manager (Fixed Income).
- Mr. Shantanu Godambe: Fund Manager (Fixed Income).
- Ms. Shalini Vasanta: Fund Manager (Fixed Income).
- Mr. Karan Mundhra: Fund Manager.
This team's collective experience and specialized focus across asset classes contribute to the fund house's diverse offerings and investment performance.
Scope and Investment Philosophy
DSP Mutual Fund's investment philosophy is characterized by a disciplined, research-intensive, and long-term oriented approach, with a growing emphasis on responsible investing. Their core tenets include:
- Fundamental Research: A strong focus on in-depth fundamental research to identify quality businesses and evaluate fixed-income instruments. They look for companies with sustainable competitive advantages, strong management, and potential for long-term growth.
- Risk-Adjusted Returns: The primary objective is to deliver consistent, superior risk-adjusted returns by employing rigorous risk management frameworks and diversification strategies across portfolios.
- Long-Term Value Creation: A belief in compounding returns over the long term, encouraging investors to stay invested through market cycles.
- Responsible Investment (ESG Integration): DSP Mutual Fund has increasingly integrated Environmental, Social, and Governance (ESG) factors into its investment decision-making processes. They engage with investee companies on ESG performance and exercise their proxy voting rights, aligning with their "InvestForGood" philosophy.
- Disciplined Fixed Income Management: For debt funds, the focus is on credit quality, liquidity management, and active duration calls based on macroeconomic outlooks and interest rate movements.
- Diverse Product Offerings: A comprehensive product suite covering various investment objectives, including diversified equity, thematic/sectoral equity, passive funds (index funds, ETFs), various debt categories (liquid, short duration, gilt, corporate bond), and hybrid funds, catering to a wide range of investor risk appetites.
Part 2: List of Funds with Brief Explanation
DSP Mutual Fund offers a wide array of schemes across equity, debt, and hybrid categories, along with passive and solution-oriented funds. Here's a list of some of their prominent funds with a brief explanation of their investment focus:
Equity Funds:
- DSP Flexi Cap Fund: An open-ended equity scheme that invests across large-cap, mid-cap, and small-cap stocks, providing the fund manager with flexibility to allocate dynamically based on market opportunities.
- DSP Midcap Fund: An open-ended equity scheme investing predominantly in mid-cap stocks, targeting companies with strong growth potential that are generally past the early-stage volatility of small caps but still offer significant growth avenues.
- DSP Small Cap Fund: An open-ended equity scheme investing predominantly in small-cap stocks, aiming for high growth from smaller companies, typically associated with higher risk and volatility.
- DSP Large Cap Fund: An open-ended equity scheme investing predominantly in large-cap stocks, focusing on established, stable companies that are market leaders.
- DSP Large & Mid Cap Fund: An open-ended equity scheme that invests in a mix of large-cap and mid-cap companies, combining the stability of large caps with the growth potential of mid caps.
- DSP ELSS Tax Saver Fund: An Equity Linked Savings Scheme (ELSS) that invests predominantly in equities and qualifies for tax deductions under Section 80C, with a 3-year statutory lock-in period.
- DSP Value Fund: An equity scheme that follows a value investing strategy, seeking undervalued stocks with strong fundamentals and potential for long-term appreciation.
- DSP Focused Fund: An equity scheme that invests in a concentrated portfolio of a limited number of high-conviction stocks across market capitalizations.
- DSP India T.I.G.E.R. Fund (Thematic Investing in Great Energy Reforms): A thematic equity fund focusing on companies that are expected to benefit from reforms and growth in the infrastructure and related sectors.
- DSP Healthcare Fund: An equity sectoral/thematic fund that invests in companies within the healthcare sector, including pharmaceuticals, hospitals, and allied industries.
- DSP Natural Resources & New Energy Fund: An equity sectoral/thematic fund focusing on companies involved in natural resources and new energy sectors.
- DSP Quant Fund: An equity scheme that uses a quantitative model for stock selection and portfolio construction, based on predefined rules and factors.
- DSP Banking & Financial Services Fund: An equity sectoral/thematic fund that invests in companies within the banking and financial services sector.
- DSP Business Cycle Fund: An equity thematic fund that invests in companies expected to benefit from prevailing business cycles and economic trends.
- DSP Multi Cap Fund: An equity fund that invests across large-cap, mid-cap, and small-cap stocks with specific minimum allocations to each.
Debt Funds:
- DSP Liquid Fund: A debt liquid fund that invests in very short-term money market instruments, offering high liquidity and aiming for stable, low-risk returns.
- DSP Overnight Fund: A debt overnight fund that invests in debt and money market instruments with a maturity of one day, offering maximum liquidity.
- DSP Ultra Short Fund: A debt ultra-short duration fund that invests in debt and money market instruments with very short maturities, suitable for parking surplus funds for a brief period.
- DSP Low Duration Fund: A debt low duration fund investing in debt instruments with a relatively low portfolio duration.
- DSP Short Term Fund: A debt short duration fund that invests in debt and money market instruments with short maturities.
- DSP Corporate Bond Fund: A debt fund that invests predominantly in corporate bonds of high-rated companies, aiming for stable income.
- DSP Banking & PSU Debt Fund: A debt fund that primarily invests in debt instruments issued by banks and Public Sector Undertakings (PSUs).
- DSP Gilt Fund: A debt gilt fund that invests predominantly in government securities (G-Secs), which carry no credit risk.
- DSP Credit Risk Fund: A debt credit risk fund that primarily invests in relatively lower-rated corporate bonds for potentially higher yields but with higher credit risk.
- DSP Dynamic Bond Fund: A debt dynamic bond fund that dynamically manages its portfolio duration based on interest rate views.
- DSP Floater Fund: A debt fund that invests in instruments with floating interest rates, aiming to reduce interest rate risk.
Hybrid Funds:
- DSP Aggressive Hybrid Fund: A hybrid fund that invests a higher proportion in equities for growth and a smaller portion in debt for stability.
- DSP Balanced Advantage Fund: A hybrid dynamic asset allocation fund that dynamically adjusts its allocation between equity and debt based on market valuations and other factors.
- DSP Equity Savings Fund: A hybrid equity savings fund that invests in equity, debt, and arbitrage opportunities, aiming for relatively stable and tax-efficient returns.
- DSP Multi Asset Allocation Fund: A hybrid multi-asset allocation fund that invests across at least three asset classes (e.g., equity, debt, gold/silver ETFs), typically with dynamic allocation.
- DSP Arbitrage Fund: A hybrid arbitrage fund that aims to generate returns by capitalizing on price differences between the cash and derivatives segments of the equity market, with the balance invested in debt.
- DSP Regular Savings Fund: A conservative hybrid fund, primarily focused on debt instruments with a smaller allocation to equities.
Index Funds & ETFs (Passive Funds):
- DSP Nifty 50 Index Fund: An equity index fund that passively tracks the Nifty 50 index.
- DSP Nifty Next 50 Index Fund: An equity index fund that passively tracks the Nifty Next 50 index.
- DSP Nifty 50 Equal Weight Index Fund: An equity index fund that tracks the Nifty 50 Equal Weight index.
- DSP Nifty Midcap 150 Quality 50 Index Fund: An equity index fund tracking a quality-factor based mid-cap index.
- DSP Gold ETF / DSP Silver ETF: Exchange Traded Funds (ETFs) that invest in physical gold/silver and track their prices.
- Various Target Maturity Index Funds (e.g., Nifty SDL plus G-Sec Index Funds): Debt index funds that invest in specific government securities (G-Secs) and State Development Loans (SDLs) with a defined maturity date.
Fund of Funds (FoFs) & International Funds:
- DSP Global Innovation Fund of Fund: A fund of funds that invests in an underlying global fund focusing on innovative companies.
- DSP US Flexible Equity Fund of Fund: A fund of funds that invests in an underlying US equity fund.
- DSP World Gold Fund of Fund: A fund of funds that invests in an underlying global gold fund.
“Ready to watch your money grow? Let's explore how mutual funds can help you achieve your financial goals.”
“Experience a smarter way to grow your wealth. Wish N Gain helps you turn every investment wish into a solid gain.”
Other Mutual Fund Houses
