Background:
Reliance Capital Limited is the sponsor of Reliance Capital Assets Management Ltd set up in June 1995. Reliance Capital Ltd. is a member of the Reliance Group and has been promoted by Reliance Industries Limited (RIL), one of India's largest private sector enterprises. The fund house manages assets worth Rs 88387.99 crore at end of April 2009.
Reliance Vision Fund (G) an open-ended equity growth scheme launched in September 1995. The primary investment objective of the scheme is to achieve long-term growth of capital by investment in equity & equity related securities through a research based investment approach. The minimum investment amount is Rs.5000 and in multiples of Re.1 thereafter. The unit NAV of the scheme was Rs 158.00 per unit as on 14 May 2009.
Reliance Vision Fund (G) an open-ended equity growth scheme launched in September 1995. The primary investment objective of the scheme is to achieve long-term growth of capital by investment in equity & equity related securities through a research based investment approach. The minimum investment amount is Rs.5000 and in multiples of Re.1 thereafter. The unit NAV of the scheme was Rs 158.00 per unit as on 14 May 2009.
Portfolio:
The total net assets of the scheme increased by Rs 295.12 crore to Rs 2694.14 crore in April 2009.
Reliance Vision Fund (G) took fresh exposure to only one stock in April 2009. It has purchased 16.63 lakh units (1.22%) of Canara Bank in April 2009.
The scheme exited completely from Tata Motors by selling 29.13 lakh units (2.19%), United Spirits by selling 7.31 lakh units (1.98%), Infrastructure Development Finance Company by selling 50.01 lakh units (1.13%) and Hindalco Industries by selling 47.14 lakh units (1.02%) in April 2009.
Sector-wise, the scheme took no fresh exposure to any sector in April 2009.
Sector-wise, the scheme exited completely from Automobiles - LCVs / HCVs at 2.19%, Breweries & Distilleries at 1.98%, Finance & Investments at 1.13% and Aluminium and Aluminium Products at 1.02% in April 2009.
The scheme had highest exposure to State Bank of India with 14.76 lakh units (7.00% of portfolio size) followed by Reliance Industries with 8.01 lakh units (5.36%) and Infosys Technologies with 9.00 lakh units (5.04%) among others in April 2009.
It reduced its exposure to Divis Laboratories to 14.49 lakh units (by 1.11%), Reliance Industries by selling 2.00 lakh units to 8.01 lakh units (by 1.00%), Hindustan Unilever to 37.10 lakh units (by 0.73%) and Housing Development Finance Corporation to 5.49 lakh units (by 0.59%) among others in April 2009.
Sector-wise, the scheme had highest exposure to Computers - Software – Large at 9.26% (from 8.18% in March 2009), followed by Banks - Public Sector at 8.22% (4.78%), Refineries at 5.36% (6.36%) and Pharmaceuticals - Indian - Bulk Drugs at 4.59% (5.70%) among others in April 2009.
Sector wise, the scheme had reduced exposure to Pharmaceuticals - Indian - Bulk Drugs to 4.59% (by 1.11%), Refineries to 5.36% (by 1.00%), Personal Care – Multinational to 3.23% (by 0.73%) and Finance – Housing to 3.53% (by 0.59%) among others in April 2009.
Reliance Vision Fund (G) took fresh exposure to only one stock in April 2009. It has purchased 16.63 lakh units (1.22%) of Canara Bank in April 2009.
The scheme exited completely from Tata Motors by selling 29.13 lakh units (2.19%), United Spirits by selling 7.31 lakh units (1.98%), Infrastructure Development Finance Company by selling 50.01 lakh units (1.13%) and Hindalco Industries by selling 47.14 lakh units (1.02%) in April 2009.
Sector-wise, the scheme took no fresh exposure to any sector in April 2009.
Sector-wise, the scheme exited completely from Automobiles - LCVs / HCVs at 2.19%, Breweries & Distilleries at 1.98%, Finance & Investments at 1.13% and Aluminium and Aluminium Products at 1.02% in April 2009.
The scheme had highest exposure to State Bank of India with 14.76 lakh units (7.00% of portfolio size) followed by Reliance Industries with 8.01 lakh units (5.36%) and Infosys Technologies with 9.00 lakh units (5.04%) among others in April 2009.
It reduced its exposure to Divis Laboratories to 14.49 lakh units (by 1.11%), Reliance Industries by selling 2.00 lakh units to 8.01 lakh units (by 1.00%), Hindustan Unilever to 37.10 lakh units (by 0.73%) and Housing Development Finance Corporation to 5.49 lakh units (by 0.59%) among others in April 2009.
Sector-wise, the scheme had highest exposure to Computers - Software – Large at 9.26% (from 8.18% in March 2009), followed by Banks - Public Sector at 8.22% (4.78%), Refineries at 5.36% (6.36%) and Pharmaceuticals - Indian - Bulk Drugs at 4.59% (5.70%) among others in April 2009.
Sector wise, the scheme had reduced exposure to Pharmaceuticals - Indian - Bulk Drugs to 4.59% (by 1.11%), Refineries to 5.36% (by 1.00%), Personal Care – Multinational to 3.23% (by 0.73%) and Finance – Housing to 3.53% (by 0.59%) among others in April 2009.
Performance:
The performance of scheme is benchmarked against BSE 100 Index. The scheme has underperformed the benchmark index over most of the time periods except 1 year period.
The scheme has posted returns of 6.29% underperforming the BSE 100 Index that gained 8.80% over 1 month period ended 14 May 2009. Over 3 months period, the scheme advanced by 18.14% underperforming the BSE 100 Index that gained 24.17%. It fell 27.67% less that the benchmark index that declined by 32.14% over 1 year period.
(Figures in %)
The scheme has posted returns of 6.29% underperforming the BSE 100 Index that gained 8.80% over 1 month period ended 14 May 2009. Over 3 months period, the scheme advanced by 18.14% underperforming the BSE 100 Index that gained 24.17%. It fell 27.67% less that the benchmark index that declined by 32.14% over 1 year period.
(Figures in %)
Reliance Vision Fund - (G)Base NAV * 158.00Beta (Slope) 0.88Standard Deviation 10.58*Unit NAV as on 14 May 2009
Investment holdings: Reliance Vision Fund (G) holds 69.83% of net asset in equities with market value of Rs 1881.32 crore and 30.17% in net current assets & others having market value of Rs 812.82 crore in April 2009.
Thus the scheme followed a high risk investment style in April 2009. The scheme OD describes its asset allocation as:
Thus the scheme followed a high risk investment style in April 2009. The scheme OD describes its asset allocation as:
Instruments Allocation & Risk profile
Equity and Equity related Instruments Atleast 60% (High)
Debt Instruments Up to 30% (Low to medium)
Money Market Instruments Up to 10% (Low)
Current investment pattern of Reliance Vision Fund (G):
Investment holdings in April 2009
Asset Type Mkt Value* (%) Hold
Equity 1881.32 69.83
Net CA & Others 812.82 30.17
Total 2694.14 100.00
*Values in Rs crore
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