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Invesco India Contra Fund: Fund review


In a falling market, fund managers of value-based schemes are more likely to do well because falling markets provide them with opportunities to invest in interesting ideas across market capitalisations. Moreover, if the value fund has the mandate to invest in companies across market caps, then it is an added advantage for investors.

For conservative and long-term investors who believe in the benefits of patience in equity markets, such value-oriented schemes would be a good pick. These schemes invest in contrarian ideas which pay rich dividends only in the long term. One such scheme is Invesco India Contra Fund whose performance consistency across market cycles is its key strength. Besides, it has been able to beat its peers and benchmark index even in the short term.

The scheme’s fund managers Taher Badshah and Amit Ganatra have bought a few prominent companies including SBI, Motherson Sumi Systems, GAIL and IndusInd Bank. In the past fiveand 10-year periods, the scheme has given 21% and 20.8% returns, while its benchmark index, Nifty 500 TRI, has returned 14.9% and 15% returns during the same period, respectively.

Portfolio change ( Past 6 months)

New Entrants Complete Exits Increase in allocation
Ajanta Pharma HCL Technologies BPCL
Apex Frozen Foods Hero MotoCorp Equitas Holdings
Axis Bank MFR United Spirits
Bharti Airtel VIP Industries Parag Milk Foods

Returns (in %)

Period CAGR Return SIP CAGR Return Diversified Largecap AVG CAGR(%)
1 year 1.74 -7.12 -2.08
3 year 14.75 12.69 11.29
5 year 22.21 15.48 16.74

Returns peer comparison (%)

Scheme name 1-year 3-year 5-year
Aditya Birla Sun Life Pure Value Fund -17.91 10.93 24.02
HDFC Capital Builder Value Fund -3.3 11.86 17.92
L&T India Value Fund -7.94 11.45 22.77

Source: Accord Fintech, Compiled by ETIG Database

Expert Take:
Harshvardhan Roongta, CFP, Roongta Securities


This is a value-oriented multi-cap fund which looks at investing in companies which are available at a fair value. The scheme’s performance has been consistent. It has performed better than its peers and benchmark index in almost all time horizons in the past 10 years. Investors looking for a “all-weather” multi-cap fund can invest in this scheme with a minimum holding period of three to five years.







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