Bank of India Large & Mid Cap Equity Fund Regular Quarterly Payout Inc Dist cum Cap Wdrl INF761K01116

Bank of India Large& Mid Cap Equity Fd earns an Average Process Pillar rating.

The primary contributor to the rating is the parent firm's five-year risk-adjusted success ratio of 65%. The measure indicates the percentage of a firm's funds that have beat their respective category's median return for the period. The process is limited by its parent firm's subpar risk-adjusted performance, as shown by the firm's average 10-year Morningstar Rating of 2.6 stars. A lower star rating suggests that the firm has struggled to outperform on a risk-adjusted basis.

This strategy is similar to its Large & Mid-Cap category peers in terms of market-cap and style exposure. Looking at additional factor exposure, this strategy has continually had exposure to high-momentum stocks compared with Morningstar Category peers in the last few years. Momentum is based on the premise that stocks that have recently outperformed will continue to outperform, and those that have underperformed will stay behind. 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 an overweight bias to the volatility factor over these years, meaning it has owned companies that have a higher historical standard deviation of returns. This contributes to a higher-risk, higher-reward approach. Compared with category peers, the strategy also had more exposure to the Volatility factor in the most recent month. In addition, this strategy has constantly held more illiquid stocks, evidenced by holdings' low trading volume, resulting in higher liquidity risk exposure than peers. Less-liquid stocks might offer strong returns to compensate for their risks, but they can be harder and more expensive to trade in bear markets. 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 basic materials and financial services relative to the category average by 5.8 and 5.7 percentage points, respectively. The sectors with low exposure compared with category peers are consumer cyclical and industrials, underweight the average by 5.7 and 5.2 percentage points of assets, respectively. The strategy owns 56 securities and is quite concentrated. More concretely, 37.5% of the portfolio's assets are housed within the top 10 holdings, versus the typical peer's 32.2%. And in closing, in terms of portfolio turnover, looking at year-over-year movements, 134% of the fund's holdings have turned over, whether through increasing, decreasing, or changing a position.