Bank of India Large & Mid Cap Equity Fund Eco Payout of Income Dist cum Cap Wdrl INF761K01025

Bank of India Large& Mid Cap Equity Fd earns a Below Average Process Pillar rating.

The process is bolstered by the parent firm's five-year risk-adjusted success ratio of 57%. The measure indicates the percentage of a firm's funds that have outperformed their respective category's median return for the period. However, the rating is held back by its parent firm's inferior risk-adjusted performance, as shown by the firm's average 10-year Morningstar Rating of 2.7 stars. A lower star rating suggests that the firm has struggled to outperform on a risk-adjusted basis. Mediocre risk-adjusted performance also weakens the process. This can be seen in the fund's 10-year alpha calculated relative to the category average, which suggests that the process has struggled over that period.

This strategy, over time, has preferred smaller market-cap companies, compared with others in the Large & Mid-Cap Morningstar Category. But in terms of style (value/growth) exposure, it is similar. Looking at additional factor exposure, this strategy has continually had exposure to high-momentum stocks compared with Morningstar Category peers in the last few years. Momentum approaches bet that rising stocks will continue to rise and that lagging stocks will continue to lag. In recent months, the strategy was more exposed to the Momentum factor compared with its Morningstar Category peers as well. This strategy has also exhibited a tilt toward high-volatility stocks over these years, meaning it has invested in companies that have a higher historical standard deviation of returns. Such exposure tends to pay off when markets are hot and to be costly when they are not. Compared with category peers, the strategy also had more exposure to the Volatility factor in the most recent month. In addition, this strategy has not maintained a defensive tilt, demonstrated by low exposure to the quality factor. This means the fund avoids holding firms that are consistently profitable, growing, and have solid balance sheets. Lacking this ballast, the fund's prospects could rest on its ability to beat peers during economic booms. In recent months, the strategy also had less Quality factor exposure than its peers. More information on a fund and its respective category's factor exposure can be found in the Factor Profile module within the Portfolio section.

The portfolio is overweight in basic materials and financial services relative to the category average by 4.7 and 3.8 percentage points, respectively. The sectors with low exposure compared with category peers are consumer cyclical and industrials, underweight the average by 3.7 and 3.1 percentage points of assets, respectively. The portfolio is positioned across 54 holdings and is relatively top-heavy. Of the strategy's assets, 36.2% are concentrated within the top 10 holdings, as opposed to the category’s 31.5% average.