Canara Robeco Infrastructure Reinvestment of Income Dist cum Cap Wdrl INF760K01266

Canara Robeco Infrastructure earns an Average Process Pillar rating.

The leading factor in the rating is the fund's excellent long-term risk-adjusted performance. This can be seen in its five-year alpha calculated relative to the category index, which suggests that the managers have shown skill in their allocation of risk. The stability of the management team also supports the process. Specifically, the fund has not seen a manager change in the last four years. However, the process is limited by the parent firm's five-year risk-adjusted success ratio of 27%. 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 tends to hold larger, more growth-oriented companies than its average peer in the Equity - Infrastructure Morningstar Category. Analyzing additional factors, this strategy has consistently had exposure to high-momentum stocks compared with Morningstar Category peers over the past 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 also has had a defensive tilt, with exposure to higher-quality stocks compared with peers in recent years. Such holdings could cause it to trail peers during economic booms, but help it better endure busts. Compared with category peers, the strategy also had more exposure to the Quality factor in the most recent month. Given the high trading volume of holdings, this fund also holds highly liquid assets. More-liquid assets contribute to more-flexible exit strategies without price changes and tend to be a ballast during market selloffs. For example, if the portfolio faces successive redemptions in a short period of time, it will be less likely to suffer from a significant loss. Nevertheless, the fund's Liquidity exposure was in line with peers in the latest month. 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 industrials and utilities relative to the category average by 6.1 and 3.5 percentage points, respectively. The sectors with low exposure compared with category peers are basic materials and financial services, underweight the average by 3.2 and 2.9 percentage points of assets, respectively. The portfolio is composed of 50 holdings and is relatively top-heavy. Of the strategy's assets, 39.4% are concentrated within the top 10 holdings, as opposed to the typical peer's 28.9%.