2024-07-14 14:01:01
New Delhi: SBI Contra Fund has completed 25 years. It is India’s first contra-oriented mutual fund scheme. Launched in July 1999, this fund has given a return of 19.99% to its investors so far. On this occasion, the fund has also released its excellent performance figures. Contra-oriented means that this fund invests in companies that are performing in the opposite direction of the market. Launched in July 1999, SBI Contra Fund has given a great return to its investors so far. It has been 19.99 percent. In comparison, its benchmark BSE 500 TRI has given a return of 16.12 percent. Better performance than its benchmark is a proof of the efficiency of the scheme’s investment strategy.
SIP of 10 thousand can make you owner of several crores
If someone had been doing a SIP of Rs 10,000 every month since the launch of the fund, his total amount would have become Rs 7.19 crore by June 30. This would have given an XIRR return of 20.84 percent. The scheme has given a SIP return of 17.94 percent in 15 years, 21.84 percent in 10 years and 35.62 percent in five years. The scheme has given a SIP return of 34.25 percent in three years and 48.68 percent in one year. On the other hand, the benchmark BSE 500 TRI has given a return of 15.86 percent in 15 years, 17.73 percent in 10 years, 24.82 percent in five years, 25.40 percent in three years and 43.02 percent in one year.
How much would an investment of Rs 1 lakh be?
If an investor had invested a lump sum of Rs 1 lakh at the time of launch of the fund, his investment would have grown to Rs 95.3 lakh by June 28. As of June 30, 2024, the scheme had assets of Rs 34,366 crore. It has more than 20.5 lakh investors. The scheme is managed by Dinesh Balachandran and Pradeep Kesavan. The scheme is suitable for investors who want long-term capital appreciation. Also, those who wish to invest in a diversified portfolio of equity and equity-related securities under a contrarian investment strategy.
Where and how much has the scheme invested?
The scheme has a portfolio of 88 stocks. Top 10 stocks constitute 22.73% of the portfolio. The scheme has 37.69% allocation to large caps, 25.14% to mid caps, 13.86% to small caps and 23.31% to others. SBI Contra Fund has the highest allocation to Banks at 14.22%, Healthcare and Automobiles & Ancillaries at 7.14%, Crude Oil at 5.95%, Power at 5.47%, Industrial Gas & Fuel at 4.46%, IT at 3.30%, Construction Materials at 2.85%, Consumer Durables at 2.72% and Iron Ore at 2.57%.