DSP Mutual Fund, a flagship of the venerable DSP Group, has a storied legacy in the Indian financial sector, with roots that intertwine with the history of the country’s stock-broking business since the 1860s. The DSP family’s foray into the realm of investment management began with a joint venture with Merrill Lynch, leading to the inception of DSP Merrill Lynch Asset Management Company, which was officially registered with SEBI in January 1997.
The evolution of this esteemed fund house continued as it became DSP BlackRock Investment Managers Ltd. in 2008, following the global acquisition of Merrill Lynch’s asset management business by BlackRock. A decade later, in 2018, the DSP Group reclaimed its stake, purchasing BlackRock’s share and rebranding the firm to the now-familiar DSP Mutual Fund.
Today, DSP Mutual Fund is a cornerstone of the industry, with its assets under management (AUM) reaching a formidable Rs 1,34,486.68 crores as of November 30th, 2023, which represents 2.74% of the industry’s total AUM.
The company’s extensive portfolio boasts 86 mutual fund schemes, tailored to meet the diverse investment needs of its clientele. This includes a robust selection of 52 debt schemes, designed for stability and consistent returns; 21 equity schemes, offering growth and capital appreciation opportunities; and 6 hybrid schemes, which provide a balanced mix of equity and debt investments. In addition to these, DSP Mutual Fund also manages 7 other schemes, including commodity funds, further showcasing its comprehensive approach to asset management.
DSP Mutual Fund’s commitment to excellence is reflected in the success of its largest funds, notably the DSP Midcap Fund, DSP Tax Saver Fund, and DSP Liquidity Fund, which, as of April 2023, stand as testament to the company’s ability to innovate and adapt in the dynamic financial landscape of India.
| Fund Name | Category | Expense Ratio (%) | 1Y Return (%) | 3Y Return (%) | 5Y Return (%) | Risk-Return Ratio | Investment Horizon |
|---|---|---|---|---|---|---|---|
| DSP Small Cap Fund | Small Cap | 0.81 | 25.73 | 23.59 | 18.12 | High | 5+ years |
| DSP Healthcare Fund | Sectoral-Pharma | 0.69 | 25.45 | 22.24 | 17.56 | Moderately High | 3-5 years |
| DSP T.I.G.E.R. Fund | Sectoral-Infrastructure | 1.13 | 23.83 | 20.87 | 16.12 | High | 5+ years |
| DSP Flexi Cap Fund | Flexi Cap | 0.74 | 19.59 | 21.23 | 17.24 | High | 5+ years |
| DSP Mid-cap Fund | Mid Cap | 0.76 | 19.10 | 20.12 | 15.34 | High | 5+ years |
| DSP Equity Opportunities Fund | Large & Mid Cap | 0.71 | 19.27 | 18.43 | 14.25 | Moderately High | 3-5 years |
| DSP Natural Resources and New Energy Fund | Thematic-Energy | 1.20 | 19.49 | 17.89 | 13.10 | Moderately High | 3-5 years |
| DSP Equity & Bond Fund | Aggressive Hybrid | 0.72 | 16.32 | 17.54 | 14.87 | Moderate | 3-5 years |
| DSP Focus Fund | Focused | 1.05 | 16.27 | 17.12 | 13.45 | Moderately High | 3-5 years |
| DSP Top 100 Equity Fund | Large Cap | 1.23 | 14.47 | 15.73 | 12.06 | Moderate | 3-5 years |
| Information | Details |
|---|---|
| Mutual fund name | DSP Mutual Fund |
| Asset management company name | DSP Investment Managers Pvt. Ltd. |
| AMC Setup Date | 16 December 1996 |
| AMC Incorporation Date | 13 May 1996 |
| Sponsor name | DSP HMK Holdings Pvt. Ltd. |
| Sponsor name | DSP Adiko Holdings Pvt. Ltd. |
| Trustee organisation | DSP Trustee Company Pvt. Limited. |
| Name of trustees | Mr. Shitin D. Desai (Independent Director) |
| Name of trustees | Mr. T. S. Krishna Murthy (Independent Director) |
| Name of trustees | Mr. S.S.N. Moorthy (Independent Director) |
| Name of trustees | Ms. Pravin Tripathi (Independent Director) |
| President | Mr. Kalpen Parekh |
| COO | Mr. Ramamoorthy Rajagopal |
| Compliance Officer | Mr. Pritesh Majmudar |
This fund targets the high growth potential of small-cap stocks. It’s ideal for investors with a long-term horizon who are willing to accept higher volatility for the possibility of substantial returns. This fund is best suited for those looking to diversify their portfolio with small-cap stocks.
Focused on the healthcare and pharmaceutical sector, this fund capitalizes on the potential of a sector that can offer growth even during volatile market conditions. It’s designed for investors with a moderate to high-risk appetite interested in sectoral exposure.
An acronym for The Infrastructure Growth and Economic Reforms Fund, it is a sectoral fund focusing on infrastructure. Given the critical role of infrastructure in India’s growth, this fund is tailored for investors who want to invest in the companies poised to benefit from economic progress.
As the name suggests, this fund has the flexibility to invest across market capitalizations, which can be a strategic advantage during various market cycles. It’s suitable for investors who are looking for diversified exposure in their equity investments.
Targeting mid-sized companies, this fund seeks to benefit from the growth potential of mid-cap stocks. It is apt for investors who have a long-term investment horizon and are looking for growth along with reasonable risk.
This fund is structured to invest in a mix of large and mid-cap stocks, aiming to offer a balance between stability and growth. It’s a suitable choice for those who are looking for moderate risk and reasonable returns over a medium to long-term horizon.
This thematic fund invests in companies related to natural resources and new energy sectors. As the world shifts towards alternative energy, this fund may appeal to investors who are looking to be part of this global transition.
An aggressive hybrid fund that combines equities and bonds, it aims to offer the best of both worlds: growth through equities and stability through bonds. This fund is meant for investors seeking balanced exposure.
This focused fund invests in a concentrated portfolio of stocks, which means it takes on higher risk in pursuit of higher returns. It’s suitable for investors with a moderately high risk-tolerance level and a long-term investment view.
Concentrating on the top 100 stocks by market capitalization, this large-cap fund aims to offer stable growth with moderate risk. It’s suitable for investors who prefer investing in established companies that typically show less volatility.
| Fund Name | Category | Expense Ratio (%) | 1Y Return (%) | 3Y Return (%) | 5Y Return (%) | Risk-Return Ratio | Investment Horizon |
|---|---|---|---|---|---|---|---|
| DSP Small Cap Fund | Small Cap | 0.81 | 25.73 | 23.59 | 18.12 | High | 5+ years |
| DSP Healthcare Fund | Sectoral-Pharma | 0.69 | 25.45 | 22.24 | 17.56 | Moderately High | 3-5 years |
| DSP Mid-cap Fund | Mid Cap | 0.76 | 19.10 | 20.12 | 15.34 | High | 5+ years |
| DSP Flexi Cap Fund | Flexi Cap | 0.74 | 19.59 | 21.23 | 17.24 | High | 5+ years |
| DSP Equity Opportunities Fund | Large & Mid Cap | 0.71 | 19.27 | 18.43 | 14.25 | Moderately High | 3-5 years |
| DSP Natural Resources and New Energy Fund | Thematic-Energy | 1.20 | 19.49 | 17.89 | 13.10 | Moderately High | 3-5 years |
| DSP Top 100 Equity Fund | Large Cap | 1.23 | 14.47 | 15.73 | 12.06 | Moderate | 3-5 years |
| DSP Equity Saving Fund | Equity Savings | 0.59 | 16.53 | 17.84 | 15.67 | Moderate | 1-3 years |
| DSP Focus Fund | Focused | 1.05 | 16.27 | 17.12 | 13.45 | Moderately High | 3-5 years |
| DSP Equity & Bond Fund | Aggressive Hybrid (Equity portion) | 0.72 | 16.32 | 17.54 | 14.87 | Moderate | 3-5 years |
| Fund Name | Category | Expense Ratio (%) | 1Y Return (%) | 3Y Return (%) | 5Y Return (%) | Macaulay Duration (Years) | Investment Horizon |
|---|---|---|---|---|---|---|---|
| DSP Indian Government Sec. (Direct) | Short Term Debt | 0.18 | 6.72 | 7.15 | 6.02 | 1.73 | 1-3 years |
| DSP CREST Liquid Fund (Direct) | Liquid Debt | 0.12 | 4.17 | 4.42 | 4.29 | 0.12 | Up to 1 year |
| DSP Low Duration Fund (Direct) | Ultra Short Term Debt | 0.72 | 5.05 | 5.42 | 5.20 | 0.80 | Up to 1 year |
| DSP Income Fund (Direct) | Income Debt | 0.76 | 7.64 | 8.23 | 8.01 | 3.86 | 3-5 years |
| DSP Bond Fund (Direct) | Bond Debt | 0.76 | 8.49 | 9.21 | 9.06 | 5.15 | 5-7 years |
| DSP Balanced Bond Fund (Direct) | Balanced Debt | 0.72 | 8.97 | 9.58 | 8.82 | 3.61 | 3-5 years |
| DSP Dynamic Bond Fund (Direct) | Dynamic Bond | 0.76 | 10.73 | 11.24 | 10.08 | 4.74 | 3-5 years |
| DSP Long Duration Fund (Direct) | Long Term Debt | 0.74 | 12.42 | 13.10 | 12.35 | 10.56 | 7-10 years |
| DSP Gilt Fund (Direct) | Gilt Debt | 0.81 | 9.73 | 10.73 | 10.65 | 13.46 | 10+ years |
| DSP Smart Debt Fund (Direct) | Equity Savings Debt | 0.76 | 8.52 | 9.03 | 8.62 | 2.82 | 1-3 years |
| Fund Name | Category | Expense Ratio (%) | 1Y Return (%) | 3Y Return (%) | 5Y Return (%) | Risk-Return Ratio | Investment Horizon |
|---|---|---|---|---|---|---|---|
| DSP Equity & Bond Fund (Direct) | Aggressive Hybrid | 0.72 | 16.32 | 17.54 | 14.87 | Moderate | 3-5 years |
| DSP Balanced Fund (Direct) | Balanced Hybrid | 0.74 | 13.02 | 14.23 | 13.06 | Moderate | 3-5 years |
| DSP Dynamic Asset Allocation Fund (Direct) | Dynamic Asset Allocation | 0.72 | 10.95 | 11.82 | 10.25 | Moderate | 3-5 years |
| DSP Equity Savings Fund (Direct) | Equity Savings | 0.59 | 16.53 | 17.84 | 15.67 | Moderate | 1-3 years |
| DSP Regular Savings Fund (Direct) | Conservative Hybrid | 0.55 | 9.21 | 9.87 | 9.02 | Low | 1-3 years |
Atul Bhole comes with a solid educational foundation in commerce and finance, complemented by his chartered accountancy credentials. With a career that commenced in equity research, Atul honed his skills at the State Bank of India and Tata Asset Management before joining DSP Mutual Fund. Here, as the investment head, he oversees significant assets across multiple funds, focusing on equity and dynamic asset allocation strategies.
Anil Ghelani, distinguished by his dual qualification as a Chartered Accountant and a Chartered Financial Analyst, serves as the Vice President at DSP Mutual Fund. His analytical acumen and financial insight play a crucial role in shaping the fund house’s investment direction.
Aditya Khemka brings a rich blend of academic excellence and international qualifications to his role at DSP Mutual Fund. His journey through various financial institutions has equipped him with a deep understanding of the healthcare sector, which he now leverages to manage specialized healthcare-focused funds.
Laukik Bagwe‘s journey through the realms of debt broking has imbued him with a profound understanding of fixed-income securities. At DSP Mutual Fund, he applies this expertise across several debt-focused funds, ensuring diversified and strategic management of the fund house’s fixed income portfolio.
Jay Kothari, armed with a degree in Finance and an MBA, transitioned from the banking sector to the mutual fund industry with ease. At DSP, his role as a product strategist and fund manager involves curating investment strategies for funds that delve into global mining, energy, and other specialized sectors.
M. Suryanarayanan, with his analytical eye, manages the DSP Bond Fund, maintaining a keen focus on credit quality and duration strategy to optimize returns for investors.
Vinit Sambre oversees the DSP Small Cap Fund, bringing his expertise in identifying high-growth potential companies that could offer rewarding investment opportunities to those with an appetite for risk.
Rohit Singhania co-manages the DSP Equity Fund, leveraging his experience to spot opportunities across the wide canvas of the Indian equity market, aiming to deliver long-term capital growth.
Investing in DSP Mutual Fund can be suitable for a wide range of investors, each with their unique financial goals and risk appetites. Here’s who might consider investing in DSP Mutual Funds:
Long-Term Investors: Those who have a long-term investment horizon, such as individuals planning for retirement or saving for a child’s education, may find the equity schemes of DSP Mutual Fund appropriate. These funds aim to capitalize on the growth potential of the Indian market over an extended period.
Risk-Averse Investors: Investors seeking to preserve capital and earn steady returns might lean towards DSP’s debt funds. These funds generally invest in government securities and high-grade corporate bonds, offering stability and lower risk.
Risk-Tolerant Investors: Individuals comfortable with higher risk in exchange for potentially higher returns could consider DSP’s small-cap and mid-cap funds. These funds invest in small and medium-sized companies that have the potential for significant growth.
Balanced Investors: Those looking for a mix of growth and income might find DSP’s hybrid funds to be a suitable choice. These funds invest in a combination of equity and fixed-income securities to balance risk and return.
Sector-Focused Investors: Investors who have a bullish outlook on specific sectors like healthcare, infrastructure, or energy may be interested in DSP’s sectoral and thematic funds. These funds aim to benefit from the growth of specific industries.
Tax-Saving Investors: DSP Mutual Fund also offers Equity Linked Savings Schemes (ELSS) that provide tax benefits under Section 80C of the Income Tax Act, along with the potential for higher returns compared to traditional tax-saving instruments.
Global Market Investors: For those looking to diversify internationally, DSP provides international fund of funds that invest in global markets, offering exposure beyond Indian equities.
How has DSP Mutual Fund performed historically?
The DSP Equity & Bond Fund has shown robust performance with 15.57% annualized returns over the past three years and 15.64% over the last five years, showcasing its hybrid fund’s strength.
What should I consider before investing in a direct plan mutual fund?
While direct mutual funds can offer cost savings since they don’t include distributor commissions, they require investors to choose schemes and make decisions independently, often necessitating a closer monitoring of the portfolio and market conditions.
Which DSP Mutual Fund SIPs are considered the best?
Amongst DSP Mutual Funds, the T.I.G.E.R. Fund, Small Cap Fund, and Natural Resources and New Energy Fund have been highlighted for their SIP performance, appealing to various investor segments.
Who is the current owner of DSP Mutual Fund?
DSP Mutual Fund is an independent Indian AMC owned by the 160-year-old DSP Group, emphasizing its deep-rooted legacy and commitment to the Indian financial market.
What are some of the top-rated DSP Mutual Funds?
Funds like DSP Equity Opportunities Direct Plan-Growth and DSP Flexi Cap Fund Direct Plan-Growth are some of the top-rated offerings, known for their potential for consistent growth and performance.
What is DSP Mutual Fund’s approach to asset management?
DSP Mutual Fund focuses on disciplined, scientific asset management with a rigorous process, aiming to deliver sustainable long-term investment outcomes for investors.
Should I choose a direct or regular SIP in DSP Mutual Fund?
Direct SIPs in DSP Mutual Fund tend to have lower expense ratios, potentially leading to higher returns over time compared to regular SIPs that include distributor commissions.
Can I switch from a regular to a direct mutual fund in DSP?
Yes, investors can switch from regular to direct mutual funds, which may result in cost savings as direct funds do not include distributor commissions.
What distinguishes DSP Midcap Fund in its category?
DSP Midcap Fund has an ET Money Rank of #22 and a consistency rating of 1, with an expense ratio of 0.76%, indicating a focus on cost-effective midcap equity investment.
How do I adjust my SIP amount or stop my DSP SIP?
Investors can modify or halt their DSP Mutual Fund SIPs through the official website or by contacting customer service, providing flexibility in investment planning.
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