Investing in small-cap funds can be a rewarding yet challenging venture. This comparative analysis between Nippon India Small Cap Fund vs HDFC Small Cap Fund will delve into the investment style, returns analysis, lumpsum investment values, SIP returns, and CAGR of Nippon India Small Cap Fund and HDFC Small Cap Fund. Buckle up for an insightful journey into the world of small-cap investments!
Investment Style
Nippon India Small Cap Fund: Growth Nippon India Small Cap Fund follows a growth-oriented investment style. The fund focuses on capital appreciation by investing in small-cap stocks with high growth potential.
HDFC Small Cap Fund: Growth Similar to Nippon India Small Cap Fund, HDFC Small Cap Fund adopts a growth investment style. The emphasis is on long-term capital appreciation through strategic investments in small-cap equities.
Returns Analysis
Annualized Returns (NAV as of October 30, 2023)
| Period Invested for | Nippon India Small Cap Fund | HDFC Small Cap Fund | Category Avg |
| 1 Year | 33.70% | 34.82% | 26.46% |
| 2 Year | 23.20% | 19.07% | 15.31% |
| 3 Year | 45.19% | 41.67% | 37.54% |
| 5 Year | 26.54% | 21.06% | 23.30% |
| 10 Year | 29.28% | 21.65% | 22.79% |
Analysis:
- 1 Year: HDFC Small Cap Fund slightly outperforms Nippon India Small Cap Fund and the category average.
- 2 Year: Nippon India leads, showcasing better returns over two years.
- 3 Year: Nippon India continues its strong performance, surpassing HDFC Small Cap Fund and the category average.
- 5 Year: Nippon India maintains its lead, delivering superior returns.
- 10 Year: Nippon India Small Cap Fund consistently outperforms HDFC Small Cap Fund and the category average over the long term.
Lumpsum Investment Value (NAV as of October 30, 2023)
| Period Invested for | Nippon India Small Cap Fund | HDFC Small Cap Fund |
| 1 Year | ₹13,369.7 | ₹13,482.1 |
| 2 Year | ₹15,177.5 | ₹14,178.1 |
| 3 Year | ₹30,607.8 | ₹28,435.3 |
| 5 Year | ₹32,486.6 | ₹26,027.6 |
| 10 Year | ₹130,813.5 | ₹71,127.3 |
Analysis:
- Nippon India Small Cap Fund consistently exhibits higher lumpsum investment values across all periods than HDFC Small Cap Fund.
SIP Returns (NAV as of October 30, 2023)
| Period Invested for | Nippon India Small Cap Fund | HDFC Small Cap Fund |
| 1 Year | 43.18% | 38.12% |
| 2 Year | 31.34% | 29.60% |
| 3 Year | 32.60% | 29.70% |
| 5 Year | 34.52% | 29.60% |
| 10 Year | 25.29% | 21.40% |
Analysis:
- Nippon India Small Cap Fund consistently demonstrates higher SIP returns across all periods than HDFC Small Cap Fund.
SIP Investment Value (NAV as of October 30, 2023)
| Period Invested for | Investments | Nippon India Small Cap Fund | HDFC Small Cap Fund | ₹1000 SIP Started on |
| 1 Year | ₹12,000 | ₹14,655.79 | ₹14,358.08 | 28-Oct-22 |
| 2 Year | ₹24,000 | ₹32,282.99 | ₹31,799.37 | 29-Oct-21 |
| 3 Year | ₹36,000 | ₹57,304.37 | ₹55,131.73 | 30-Oct-20 |
| 5 Year | ₹60,000 | ₹139,564.26 | ₹124,324.93 | 30-Oct-18 |
| 10 Year | ₹120,000 | ₹458,661.27 | ₹371,556.97 | 30-Oct-13 |
Analysis:
- Nippon India Small Cap Fund consistently outperforms HDFC Small Cap Fund in SIP investment values.
CAGR (Compounded Annual Growth Rate)
| Category | 1 Year | 3 Year | 5 Year | 9 Year |
| Nippon India Small Cap Fund | 40.14% | 41.79% | 29.23% | 22.44% |
| HDFC Small Cap Fund | 37.99% | 37.42% | 23.36% | 19.24% |
Analysis:
- Nippon India Small Cap Fund consistently maintains a higher CAGR across all time frames than HDFC Small Cap Fund.
Rolling Returns
Category: 1 Y, 3 Y, 5 Y, 9 Y
| Period | Nippon India Small Cap Fund | HDFC Small Cap Fund |
| 1 Y | 36.96% | 26.86% |
| 3 Y | 25.93% | 20.19% |
| 5 Y | 21.26% | 17.02% |
| 9 Y | 26.84% | 20.24% |
Analysis:
- Nippon India Small Cap Fund consistently outperforms HDFC Small Cap Fund across all rolling return periods, showcasing its robust performance.
Best Quarters
Period: Q2 – 2020
| Fund | Returns |
| Nippon India Small Cap Fund | 28.93% |
| HDFC Small Cap Fund | 24.05% |
| Nifty 50 | 24.82% |
Period: Q4 – 2017
| Fund | Returns |
| Nippon India Small Cap Fund | 22.65% |
| HDFC Small Cap Fund | 21.91% |
| Nifty 50 | 5.84% |
Analysis:
- Nippon India Small Cap Fund performs in the best quarters compared to HDFC Small Cap Fund and even outshines Nifty 50.
Worst Quarters
Period: Q1 – 2020
| Fund | Returns |
| Nippon India Small Cap Fund | -30.09% |
| HDFC Small Cap Fund | -32.84% |
| Nifty 50 | -29.43% |
Period: Q2 – 2022
| Fund | Returns |
| Nippon India Small Cap Fund | -9.44% |
| HDFC Small Cap Fund | -10.12% |
| Nifty 50 | -10.70% |
Analysis:
- Nippon India Small Cap Fund displays resilience even in its worst quarters, showcasing a comparatively milder downturn.
Maximum Drawdown
3-Year Period
| Fund | Maximum Drawdown |
| Nippon India Small Cap Fund | -10.22 |
| HDFC Small Cap Fund | -14.75 |
| Category | -10.65 |
5-Year Period
| Fund | Maximum Drawdown |
| Nippon India Small Cap Fund | -33.92 |
| HDFC Small Cap Fund | -41.15 |
| Category | -27.72 |
10-Year Period
| Fund | Maximum Drawdown |
| Nippon India Small Cap Fund | -41.64 |
| HDFC Small Cap Fund | -44.53 |
| Category | -27.88 |
Analysis:
- Nippon India Small Cap Fund experiences lower drawdowns across all periods than HDFC Small Cap Fund and the category average, emphasizing its stability.
Annualized Results (NAV as of October 30, 2023)
| Period | Nippon India Small Cap Fund | HDFC Small Cap Fund |
| 2023 | 33.12% | 31.16% |
| 2022 | 7.53% | 5.64% |
| 2021 | 72.65% | 63.74% |
| 2020 | 28.93% | 20.50% |
| 2019 | -1.97% | -9.05% |
| 2018 | -15.73% | -7.00% |
| 2017 | 64.94% | 62.65% |
| 2016 | 5.77% | 6.06% |
Outperformance:
- Nippon India Small Cap Fund outperforms HDFC Small Cap Fund in 6 out of 8 years.
Analysis:
- Nippon India Small Cap Fund consistently delivers better annual results than HDFC Small Cap Fund, showcasing its potential for sustained growth.
Now, we will dive into the quarterly results of Nippon India Small Cap Fund and HDFC Small Cap Fund, exploring the emerging highs, lows, and intriguing patterns.
QUARTERLY RESULTS (NAV as of October 30, 2023)
| Period | Nippon India Small Cap Fund | HDFC Small Cap Fund |
| Q4 – 2023 | 0.32% | -0.97% |
| Q3 – 2023 | 12.77% | 12.17% |
| Q2 – 2023 | 20.10% | 17.98% |
| Q1 – 2023 | -2.02% | 0.08% |
| Q4 – 2022 | 2.91% | 5.13% |
| Q3 – 2022 | 16.47% | 17.21% |
| Q2 – 2022 | -9.44% | -10.12% |
| Q1 – 2022 | -2.12% | -6.68% |
| Q4 – 2021 | 7.70% | 3.64% |
| Q3 – 2021 | 12.38% | 10.46% |
| Q2 – 2021 | 19.76% | 23.15% |
| Q1 – 2021 | 17.22% | 13.99% |
| Q4 – 2020 | 18.81% | 20.59% |
| Q3 – 2020 | 22.32% | 19.01% |
| Q2 – 2020 | 28.93% | 24.05% |
| Q1 – 2020 | -30.09% | -32.84% |
| Q4 – 2019 | 5.03% | 0.48% |
| Q3 – 2019 | -4.17% | -7.63% |
| Q2 – 2019 | -2.44% | -5.10% |
| Q1 – 2019 | 1.50% | 4.98% |
| Q4 – 2018 | 1.02% | 1.99% |
| Q3 – 2018 | -4.34% | -2.98% |
| Q2 – 2018 | -4.46% | -1.80% |
| Q1 – 2018 | -8.89% | -4.44% |
| Q4 – 2017 | 22.65% | 21.91% |
| Q3 – 2017 | 5.76% | 4.19% |
| Q2 – 2017 | 7.30% | 9.33% |
| Q1 – 2017 | 18.51% | 17.12% |
| Q4 – 2016 | -1.19% | -5.50% |
| Q3 – 2016 | 8.20% | 8.69% |
Outperformance:
- Nippon India Small Cap Fund outperforms HDFC Small Cap Fund 18 times out of 30 quarters.
Analyzing the Rollercoaster: A Quarter-by-Quarter Ride
Q4 – 2023: Navigating Minor Hiccups
The final quarter of 2023 saw a slight positive bump for Nippon India, while HDFC experienced a minor dip. Although neither fund experienced significant changes, these nuances matter in the ever-evolving landscape.
Q2 – 2023: Nippon India Takes the Lead
Nippon India surged ahead in the second quarter of 2023, showcasing a double-digit growth rate. Meanwhile, HDFC, though positive, couldn’t match the burst of energy displayed by its counterpart.
Q1 – 2022: The Tug of War
In the first quarter of 2022, we witnessed both funds grappling with negative returns. Nippon India’s resilience shone as it weathered the storm better than HDFC, emphasizing the importance of fund stability.
Spotting Patterns: Best and Worst Performances
Best Quarters
Period: Q2 – 2020
- Nippon India Small Cap Fund: 28.93%
- HDFC Small Cap Fund: 24.05%
Period: Q4 – 2017
- Nippon India Small Cap Fund: 22.65%
- HDFC Small Cap Fund: 21.91%
Worst Quarters Period: Q1 – 2020
- Nippon India Small Cap Fund: -30.09%
- HDFC Small Cap Fund: -32.84%
Period: Q2 – 2022
- Nippon India Small Cap Fund: -9.44%
- HDFC Small Cap Fund: -10.12%
Maximum Drawdown Analysis
- 3-Year Period: Nippon India Small Cap Fund: -10.22%, HDFC Small Cap Fund: -14.75%
- 5-Year Period: Nippon India Small Cap Fund: -33.92%, HDFC Small Cap Fund: -41.15%
- 10-Year Period: Nippon India Small Cap Fund: -41.64%, HDFC Small Cap Fund: -44.53%
Now, we’ll dive into the risk metrics of Nippon India Small Cap Fund and HDFC Small Cap Fund, exploring mean returns, volatility, risk ratios, and the much-coveted ratings from CRISIL, Value Research, and Morning Star.
Risk Metrics Comparative Analysis
Mean Return, Sortino, and Treynor’s Ratio: Navigating the Returns Landscape
| Fund | Mean Return (%) | Sortino (%) | Treynor’s Ratio |
| Nippon India Small Cap Fund | 36.1 | 3.3 | 0.32 |
| HDFC Small Cap Fund | 33.58 | 2.96 | 0.3 |
Analysis:
- Nippon India Small Cap Fund edges ahead in mean Return, Sortino, and Treynor’s Ratio, indicating superior performance in terms of risk-adjusted returns.
Standard Deviation: The Volatility Tale
| Fund | Std Dev (%) 3Y | Std Dev (%) 5Y | Std Dev (%) 10Y |
| Nippon India Small Cap Fund | 15.79 | 23.65 | 22.51 |
| HDFC Small Cap Fund | 16.53 | 23.84 | 20.17 |
Analysis:
- Nippon India Small Cap Fund displays lower standard deviation across all timeframes, showcasing steadier performance in the face of market fluctuations.
Sharpe Ratio: Balancing Risk and Reward
| Fund | Sharpe (%) 3Y | Sharpe (%) 5Y | Sharpe (%) 10Y |
| Nippon India Small Cap Fund | 2.03 | 0.97 | 1 |
| HDFC Small Cap Fund | 1.73 | 0.73 | 0.77 |
Analysis:
- Nippon India Small Cap Fund outperforms in Sharpe ratio, emphasizing its ability to deliver higher returns for a given level of risk.
Beta: Market Sensitivity
| Fund | Beta (%) 3Y | Beta (%) 5Y | Beta (%) 10Y |
| Nippon India Small Cap Fund | 0.89 | 0.96 | 0.97 |
| HDFC Small Cap Fund | 0.91 | 0.96 | 0.84 |
Analysis:
- Both funds maintain beta values close to 1, signifying a moderate level of market sensitivity. Nippon India Small Cap Fund slightly edges out in the 3-year and 10-year periods.
Alpha: The Excess Returns
| Fund | Alpha (%) 3Y | Alpha (%) 5Y | Alpha (%) 10Y |
| Nippon India Small Cap Fund | 8.16 | 4.06 | 6.45 |
| HDFC Small Cap Fund | 4.27 | -1.37 | 1.49 |
Analysis:
- Nippon India Small Cap Fund consistently exhibits higher alpha values, indicating the ability to generate excess returns beyond the expected.
Rating Comparisons: CRISIL, Value Research, and Morning Star
CRISIL Ratings
| Period | Nippon India Small Cap Fund | HDFC Small Cap Fund |
| September 30, 2023 | 5 | 4 |
| June 30, 2023 | 5 | 4 |
| March 31, 2023 | 4 | 4 |
| December 31, 2022 | 4 | 3 |
| September 30, 2022 | 4 | 3 |
Analysis:
- Nippon India Small Cap Fund consistently earns higher CRISIL ratings, indicating a more favourable outlook.
Value Research Ratings
| Ratings | Nippon India Small Cap Fund | HDFC Small Cap Fund |
| Value Research | 4 | 3 |
Analysis:
- Nippon India Small Cap Fund secures a higher rating from Value Research, reinforcing its positive standing.
Morning Star Ratings
| Ratings | Nippon India Small Cap Fund | HDFC Small Cap Fund |
| Morning Star | 5 | 3 |
Analysis:
- Nippon India Small Cap Fund earns a significantly higher rating from Morning Star, solidifying its position as a more favoured investment.
Portfolio Overlapping Comparison
Total Overlap Percentage: Navigating the Common Ground
| Fund | Nippon India Small Cap Fund | HDFC Small Cap Fund |
| Portfolio Overlap Total (%) | 15.99 | 42.71 |
Analysis:
- Portfolio overlap signifies the common ground between the two funds. While Nippon India Small Cap Fund exhibits a modest 15.99% overlap, HDFC Small Cap Fund’s portfolio shares a more substantial 42.71% commonality.
Portfolio Comparison
Understanding the Asset Mix
| Fund | Nippon India Small Cap Fund | HDFC Small Cap Fund Portfolio |
| Equity (%) | 96.26 | 92.62 |
| Debt (%) | 0 | 0 |
| Cash & Cash Eq. (%) | 3.72 | 7.38 |
Analysis:
- Both funds primarily allocate their portfolios to equities, with Nippon India Small Cap Fund having a slightly higher equity percentage. The negligible debt allocation and cash equivalence indicate a focus on market participation.
Market Cap Allocation
Navigating the Market Terrain
| Fund | Nippon India Small Cap Fund | HDFC Small Cap Fund Portfolio |
| No of Stocks | 201 | 77 |
| Large Cap (%) | 5.81 | 3.94 |
| Mid Cap (%) | 8.37 | 4.60 |
| Small Cap (%) | 57.24 | 70.21 |
Analysis:
- The number of stocks in Nippon India Small Cap Fund far exceeds that of HDFC Small Cap Fund, suggesting a more diversified approach. The allocation to small-cap stocks is predominant in both, with Nippon India Small Cap Fund holding a slightly higher percentage.
Sector Allocation
Deciphering Sector-Specific Investments
| Sector | Nippon India Small Cap Fund | HDFC Small Cap Fund Portfolio |
| Capital Goods (%) | 19.11 | 13.57 |
| Financial (%) | 12.26 | 12.66 |
| Services (%) | 8.85 | 20.85 |
| Chemicals (%) | 8.08 | 4.05 |
| Healthcare (%) | 7.46 | 10.54 |
| Consumer Staples (%) | 7.30 | 4.02 |
| Technology (%) | 6.56 | 4.33 |
| Automobile (%) | 5.25 | 5.51 |
| Construction (%) | 3.66 | 2.05 |
| Metals & Mining (%) | 3.61 | 3.52 |
| Materials (%) | 3.27 | 5.45 |
| Consumer Discretionary (%) | 3.16 | 3.74 |
| Textiles (%) | 3.08 | 1.49 |
| Communication (%) | 2.21 | NA |
| Diversified (%) | 1.64 | 2.09 |
| Energy (%) | 1.07 | NA |
| Insurance (%) | 0.47 | NA |
Analysis:
- Both funds exhibit diverse sector allocations. Nippon India Small Cap Fund prefers capital goods, while HDFC Small Cap Fund leans towards services. Each sector choice reflects the fund manager’s strategy and market expectations.
Let’s meet the captains steering these ships and explore the financial waters they navigate.
Fund Managers: The Helmsmen of Investment
Nippon India Small Cap Fund Managers
| Manager | Tenure | Experience (Yrs) |
| Samir Rachh | Jan 02, 2017 – Present | 6 Yrs 10 Months |
| Kinjal Desai | May 25, 2018 – Present | 5 Yrs 5 Months |
| Akshay Sharma | Dec 01, 2022 – Present | 0 Yrs 11 Months |
| Tejas Sheth | Feb 01, 2023 – Present | 0 Yrs 8 Months |
Analysis:
- Nippon India Small Cap Fund boasts a team with varying tenures, ensuring a blend of experience and fresh perspectives.
- Samir Rachh, the longest-serving manager, brings nearly seven years of expertise.
HDFC Small Cap Fund Managers
| Manager | Tenure | Experience (Yrs) |
| Chirag Setalvad | Jun 28, 2014 – Present | 14 Yrs 4 Months |
| Dhruv Muchhal | Jun 22, 2023 – Present | 5 Yrs 11 Months |
Analysis:
- HDFC Small Cap Fund takes pride in a leadership team with considerable experience, led by Chirag Setalvad’s robust 14-year tenure.
- Dhruv Muchhal adds a fresh perspective with almost six years in the industry.
Key Financial Indicators: A Comparative Analysis
Performance Metrics at a Glance
| Fund | NAV | AUM (in Cr.) | Expense Ratio (%) | Turnover | Benchmark |
| Nippon India Small Cap Fund | 147.26 | 41018 | 0.71 | 28% | Nifty Small-cap 100 |
| HDFC Small Cap Fund | 125.28 | 25408 | 0.75 | 10% | Nifty Small-cap 100 |
Analysis:
- Both funds track the Nifty Small-cap 100 index, exposing investors to small-cap stocks.
- Nippon India Small Cap Fund exhibits a higher NAV and AUM, suggesting a more extensive investor base and potentially greater liquidity.
- Despite a lower turnover, HDFC Small Cap Fund maintains competitive expense ratios.
Minimum Investment Requirements
Affordability for Every Investor
| Fund | SIP | Lumpsum |
| Nippon India Small Cap Fund | ₹ 100 | Not Allowed Currently |
| HDFC Small Cap Fund | ₹ 100 | ₹ 100 |
Analysis:
- Both funds offer an affordable entry point, with a minimum SIP investment of ₹100.
- Currently, Nippon India Small Cap Fund doesn’t allow lumpsum investments.
Conclusion: Charting Your Investment Course
In the realm of small-cap funds, both Nippon India Small Cap Fund and HDFC Small Cap Fund bring unique strengths. Nippon India Small Cap Fund stands out with its consistently superior returns, lower drawdowns, and higher ratings from leading agencies. HDFC Small Cap Fund, led by an experienced management team, maintains competitiveness and stability.
For investors seeking robust returns with a potentially higher risk appetite, Nippon India Small Cap Fund emerges as a compelling choice. Its track record of outperformance and ability to weather market volatility makes it a beacon for those navigating the choppy seas of small-cap investments.
On the other hand, HDFC Small Cap Fund, with its experienced leadership and competitive metrics, may appeal to investors who prioritize stability and a more moderate risk profile.
Choosing between these funds should align with your unique financial and investment goals, risk appetite, and time horizon. As you embark on your investment journey, may the winds of financial fortune be in your favour. Happy investing!
FAQs: Nippon India Small Cap Fund vs HDFC Small Cap Fund
Q1: Which Small-cap Fund Is Better, Nippon India or HDFC, Based on Returns?
A1: Nippon India Small Cap Fund has consistently outperformed HDFC Small Cap Fund across various time frames, showcasing superior returns and sustained growth potential.
Q2: What Investment Style Do Nippon India Small Cap Fund and HDFC Small Cap Fund Follow?
A2: Both funds adopt a growth-oriented investment style, focusing on long-term capital appreciation through strategic investments in small-cap stocks.
Q3: How Do Lumpsum Investment Values Differ Between Nippon India and HDFC Small Cap Funds?
A3: Nippon India Small Cap Fund consistently exhibits higher lumpsum investment values across all periods than HDFC Small Cap Fund, emphasizing its potential to generate wealth for investors.
Q4: Which Fund Demonstrates Better SIP Returns and Investment Values?
A4: Nippon India Small Cap Fund consistently outperforms HDFC Small Cap Fund in SIP returns and investment values, making it an attractive choice for systematic investment plans.
Q5: What Sets Nippon India Small Cap Fund Apart During Market Volatility?
A5: Nippon India Small Cap Fund displays resilience even in its worst quarters, showcasing a comparatively milder downturn and lower drawdowns, emphasizing stability during market turbulence.
Q6: How Do Risk Metrics Differ Between Nippon India and HDFC Small Cap Funds?
A6: Nippon India Small Cap Fund edges ahead in mean Return, Sortino, Treynor’s Ratio, lower standard deviation, and higher Sharpe ratio, indicating superior risk-adjusted returns compared to HDFC Small Cap Fund.
Q7: What Do CRISIL, Value Research, and Morning Star Ratings Suggest About These Funds?
A7: Nippon India Small Cap Fund consistently earns higher ratings from CRISIL, Value Research, and Morning Star, reinforcing its positive standing and indicating a more favourable outlook than HDFC Small Cap Fund.
Q8: How Diversified Are the Portfolios of Nippon India and HDFC Small Cap Funds?
A8: Nippon India Small Cap Fund exhibits a more diversified portfolio with a modest overlap, while HDFC Small Cap Fund’s portfolio has a more substantial commonality, indicating different approaches to diversification.
Q9: What Sets Nippon India Small Cap Fund Apart in Terms of Fund Managers?
A9: Nippon India Small Cap Fund boasts a team with varying tenures, ensuring a blend of experience and fresh perspectives, providing investors with a comprehensive and dynamic management approach.
Q10: Based on Minimum Investment Requirements, Which Fund Offers a More Accessible Entry Point?
A10: Both funds offer an affordable entry point with a minimum SIP investment of ₹100. Currently, Nippon India Small Cap Fund doesn’t allow lumpsum investments, making HDFC Small Cap Fund more accessible for lumpsum investments.
Q11: Considering Market Cap and Sector Allocation, What Differentiates These Funds?
A11: Nippon India Small Cap Fund has a higher number of stocks, suggesting a more diversified approach, and it exhibits different sector preferences compared to HDFC Small Cap Fund, reflecting unique market expectations and strategies.
Q12: Which Small-cap Fund Is Better for Different Risk Appetites?
A12: For investors seeking robust returns with a potentially higher risk appetite, Nippon India Small Cap Fund emerges as a compelling choice. HDFC Small Cap Fund, with its experienced leadership and competitive metrics, may appeal to investors who prioritize stability and a more moderate risk profile. The choice between these funds should align with individual investment goals, risk tolerance, and time perspective.
Disclaimer:
This blog is solely for educational purposes. The securities/investments quoted here are not recommendatory. This is not an investment advisory. The blog is for information purposes only. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.
Past performance is not indicative of future returns. Please consider your specific investment requirements, risk tolerance, goal, time frame, risk and reward balance, and the cost associated with the investment before choosing a fund or designing a portfolio that suits your needs. The performance and returns of any investment portfolio can neither be predicted nor guaranteed.
The information provided in this article is solely the author/advertisers’ opinion and not investment advice – it is provided for educational purposes only. Using this, you agree that the information does not constitute any investment or financial instructions by Ace Equity Research and the team. Anyone wishing to invest should seek their own independent financial or professional advice. Do conduct your research along with registered financial advisors before making any investment decisions. Ace Equity Research and the team are not accountable for the investment views provided in the article.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
