This is an open-ended equity scheme that invests in securities of top 200 companies by market capitalisation. The fund will invest at least 95% of the corpus across the top 25 holdings in the portfolio excluding debt and money market securities. 

With the strong inflows in equity funds, the mutual fund industry has been buoyed by the rising assets under management. These rising inflows led to creation of many funds having huge assets under management (AUMs).

The lucky charms of the investors—mid-cap and small-cap funds—have been bleeding since last five months. Since the start of the year, the broader indices such as S&P BSE Small-cap and BSE Mid-cap indices have fallen by 16.81% and 13.46%, respectively.

After a dream run of year 2017, Indian equity markets are currently facing a reality check. Since the start of this year, we have been witnessing a rise in volatility in the equity markets. Moreover, we do not see this volatility waning away in a hurry due to various domestic and international factors.

One of the dominant themes in the Indian economic background this year has been falling rupee. The rupee has lost almost 10% against the dollar from the start of the year and dropped to its lowest on July 2 and touched 69.10 per dollar. What prompted such a fall is huge selling by foreign portfolio investors (FPIs) in the domestic equity and bond markets. The FPIs have pulled out a cumulative USD 9.4 billion from equity and bond markets since January this year.