Bandhan Aggressive Hybrid Fund Regular Plan Growth INF194KA1U15

Bandhan Aggressive Hybrid Fund earns a Below Average Process Pillar rating.

The process is strengthened by the fund's strong long-term risk-adjusted performance. This can be seen in its five-year alpha calculated relative to the category average, which suggests that the managers have shown skill in their allocation of risk. However, the rating is weakened by its parent firm's subpar risk-adjusted performance, as shown by the firm's average 10-year Morningstar Rating of 2.3 stars. A lower star rating suggests that the firm has struggled to outperform on a risk-adjusted basis. The parent firm's five-year risk-adjusted success ratio of 27% also holds the process back. The measure indicates the percentage of a firm's funds that have outperformed their respective category's median return for the period. The parent's subpar success ratio suggests that the firm could do better across its fund lineup.

This strategy is positioned similarly to Aggressive Allocation peers, in terms of its fixed-income to equity breakdown, with a 17.1% to 78.1% fixed-income to equity weighting. Its equity sleeve has a meaningful tilt toward both smaller market-cap and growth-oriented companies as opposed to the category average. The strategy has three region or sector biases compared to category peers. The portfolio's most meaningful overexposure is to the consumer cyclical sector. It also sustains an underweight position in the financial services sector. Lastly, the portfolio has been underweight in the energy sector.

The portfolio is overweight in technology and healthcare relative to the category average by 6.1 and 3.0 percentage points, respectively. The sectors with low exposure compared with category peers are financial services and consumer defensive, underweight the average by 6.6 and 2.6 percentage points of assets, respectively.