DSP Healthcare Fund

All Cap

Equity

Health Care

India Super Value

Others

Aggressive growth Investor Profile

Investor Profile

1–7 yearsInvestment Horizon

HNI, UHNI, Retail Investor, Mass AffluentTarget Segments

SEBI registered equity mutual fund suitable for all investor categoriesRegulatory Fit

Dsp Healthcare Fund Growth focuses on Indian healthcare and pharma companies for steady growth.

What This Strategy Does

DSP Healthcare Fund Reg Gr is an equity fund which captures India's ₹2.5 trillion healthcare opportunity through a concentrated portfolio focused on pharmaceutical, hospital, and allied healthcare companies to achieve broad-based earnings growth.

CW Expert Research Notes

Consistent Outperformance

The fund has demonstrated resilient benchmark-relative behavior, outperforming in 4 out of the past 12 years, suggesting a robust investment process capable of delivering consistent earnings across market cycles.

Concentrated Healthcare Exposure

With a 98.84% allocation to the healthcare sector and a bias towards mid-cap names like Alkem Laboratories and Laurus Labs, the fund offers a differentiated approach to accessing structural growth trends in the Indian pharmaceutical industry.

Defensive Risk Profile

The fund's below-average beta of 0.951 and focus on defensive healthcare holdings position it as a potential portfolio stabilizer; however, the concentrated sector bet could impair returns if regulatory risks or pricing pressures intensify.

Performance and Risk Analysis

Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.

Fund Performance

-0.8% AnnuallyAlpha

+21.5% vs +11.1% benchmarkSince Inception

+20.5% vs +6.4% benchmark3Y Annualized

+14.0% vs +6.6% benchmark5Y Annualized

DSP Healthcare Fund

Benchmark Index

Benchmark Performance Comparison

Dsp Healthcare Fund

NIFTY 50

Risk Profile

Standard Deviation13.2%

Maximum Drawdown-13.3% | Jan 2025

Sharpe Ratio0.00

Beta0.85

Upside Capture85%

Detailed Risks

Market Risk

Potential recession and healthcare spending cuts could pressure fund's earnings outlook.

Liquidity Risk

High mid-cap exposure risks liquidity strain during volatility spikes.

Concentration Risk

Concentrated healthcare exposure vulnerable to regulatory pricing pressures.

Specific Strategy Risk

Competitive dynamics and patent cliffs threaten key holdings' profitability.

Strategy Details

A closer look at the investment thesis, portfolio construction, and current holdings.

Core Investment Theme

Provides concentrated exposure to India's rapidly growing healthcare sector. This theme capitalizes on rising incomes, increased insurance penetration, and favorable demographics driving long-term demand for quality healthcare services and products.

Broader Market View

Market Outlook

Equity markets appear to be entering a mid-cycle phase, with an attractive entry point supported by consumption recovery, earnings normalization, and capex revival. While risks such as margin pressures remain, the fund's tilt towards consumer, financial services, and technology positions it to capitalize on these trends.

Why This Strategy is Attractive Now

This strategy seems well-positioned for the current environment, with exposure to market leaders across consumer cyclicals, financials, and technology. Its diversification across around 70 holdings, along with a balance of growth and stability, aligns with a moderate risk profile. The flexible, risk-adjusted approach stands to benefit from broad-based participation.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth approach, emphasizing companies with durable competitive advantages, consistent earnings growth, and reasonable valuations across large and mid-cap market segments.

Why it Makes Sense

In the current environment of moderating economic growth and elevated uncertainty, a Quality Growth strategy focused on companies with pricing power, recurring revenues, and strong balance sheets can provide downside protection while participating in secular growth opportunities.

High-Level Investment Process

Sourcing: The strategy appears to source investment ideas from a broad universe of quality companies across sectors, with a preference for those demonstrating sustainable competitive advantages, proven management teams, and attractive growth runways. Selection: The selection process suggests an emphasis on fundamental research to identify companies with durable business models, healthy financials, and attractive valuations relative to growth prospects. Construction: Portfolio construction is consistent with a multi-cap core approach, maintaining exposure across sectors while allowing high-conviction ideas to establish larger weights. Risk management practices likely incorporate diversification, position sizing, and valuation discipline.

Portfolio Holdings Overview

SectoralAllocation

Services98.55%

Financial Services1.45%

Geographic Allocation

Domestic80.74972%

International19.25027%

Top Stock Holdings

CompanySectorAllocation

Ipca Laboratories LtdServices9.39%

Sun Pharmaceuticals Industries LtdServices9.33%

Cipla LtdServices7.68%

Globus Medical Inc Class AServices7.58%

Illumina IncServices6.47%

Laurus Labs LtdServices6.29%

Sai Life Sciences LtdServices6.02%

Gland Pharma LtdServices5.40%

Apollo Hospitals Enterprise LtdServices5.00%

Alembic Pharmaceuticals LtdServices3.28%

Fund House Management

The asset management company’s track record, AUM scale, and fund manager credentials.

Fund Manager Track Record

Chirag Dagli

Chirag Dagli has experience of 1 years. Manages 12 funds at DSP Asset Managers Private Limited with an AUM of approximately ₹3,179 Cr

1 years

Combined Team Experience

₹ 3,179 Cr

Assets Under Management

CW Expert Take

DSP's legacy of principled investing spans decades. They maintain a research-driven culture with low portfolio churn, whether managing equity portfolios or fixed income strategies. The fund house is known for transparent communication and staying true to fund mandates even during difficult performance periods. DSP Healthcare Fund reflects this philosophy, taking a disciplined approach to the healthcare sector while maintaining quality benchmarks in stock selection.

Firm Overview

Total AUM₹2,20,762.56 Cr

Investment Philosophy & Approach

Focused Expertise

DSP Investment Managers follows a specialized investment approach in healthcare.

Disciplined Process

The fund house employs rigorous research and risk management practices.

Long-Term Mindset

DSP invests with a long-term perspective to create sustainable value.

Operational & Regulatory Details

What it costs to invest, transaction mechanics, and regulatory disclosures you should know.

Costs and Fees

Total Expense Ratio (TER)1.94%

Exit Load0.5

Regulatory & Tax Information

INF740KA1LD8

ISIN

DailyDealing Frequency

BSE Healthcare PR INRBenchmark

LTCG | >1Year 12.5%% on gain above 1.25 Lakh

STCG | <1Year 20%%

Tax Implications (India)