Tata Multi Asset Allocation Fund

Diversified

Hybrid

India Multi Asset

Others

Aggressive growth Investor Profile

Investor Profile

4–7 yearsInvestment Horizon

HNI, UHNI, Retail Investor, Mass AffluentTarget Segments

SEBI registered equity mutual fund suitable for all investor categoriesRegulatory Fit

Tata Multi Asset Opportunities Fund Growth mixes stocks and bonds for balanced growth and stability.

What This Strategy Does

Tata Multi Asset Allocation Reg Gr is an equity flexi-cap fund which captures India's ₹200 trillion diversified opportunity through dynamic asset allocation, deploying capital across financials, industrials, and energy to achieve broad-based earnings growth.

CW Expert Research Notes

Consistent Outperformance

The fund has demonstrated resilient benchmark-relative behavior, outperforming in 10 of the past 12 years, highlighting its ability to deliver consistent outcomes across market cycles.

Balanced Multi-Asset Approach

The fund's differentiated multi-asset allocation process, with a balanced exposure across equities, bonds, and cash equivalents, provides a diversified portfolio construction tailored to navigate varying market environments.

Structural Growth Catalysts

The fund's overweight positioning in sectors such as financials, industrials, and energy aligns with potential catalysts like rising capital expenditures, policy reforms, and earnings revisions, underpinning its long-term growth thesis.

Performance and Risk Analysis

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

Fund Performance

0.0% AnnuallyAlpha

+15.5% vs +12.3% benchmarkSince Inception

+12.0% vs +6.4% benchmark3Y Annualized

+11.0% vs +6.6% benchmark5Y Annualized

Tata Multi Asset Allocation Fund

Benchmark Index

Benchmark Performance Comparison

Tata Multi Asset Opportunities Fund

NIFTY 50 + FD Returns

Risk Profile

Standard Deviation11.8%

Maximum Drawdown-9.4% | Oct 2024

Sharpe Ratio0.33

Detailed Risks

Market Risk

Potential recession in India could dampen consumer demand, impacting fund holdings.

Liquidity Risk

High mid-cap exposure could face liquidity stress during market sell-offs.

Concentration Risk

Significant large-cap tilt exposes fund to idiosyncratic risks in concentrated holdings.

Specific Strategy Risk

Regulatory changes to asset allocation rules could disrupt strategy execution.

Strategy Details

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

Core Investment Theme

Delivers dynamic asset allocation across equities, bonds, and cash to navigate varying market conditions. This multi-asset approach aims to capture upside in rising markets while providing downside protection during volatility. The impact is a smoother return profile with lower drawdowns compared to single-asset class investing.

Broader Market View

Market Outlook

Equity markets appear to be entering a mid-cycle phase, with consumption and earnings recovery gaining traction. This normalization backdrop, supported by revival in capex and credit growth, presents an opportune entry point. The strategy's tilt towards consumer, financial services and technology aligns with beneficiaries of the demand upswing, although competitive pressures and cyclicality pose risks.

Why This Strategy is Attractive Now

The strategy seems well-positioned to capitalize on the evolving landscape, with sizeable exposure to consumer cyclicals, defensives, financials and technology. The portfolio's ~70 holdings reflect a balanced approach, combining market leaders across autos, retail, banking and IT with defensive positioning. A moderate beta and diversification could aid risk-adjusted participation as the cycle matures.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth strategy, emphasizing companies with durable competitive advantages, consistent earnings growth, and reasonable valuations relative to their growth prospects.

Why it Makes Sense

In the current environment of moderating economic growth and elevated uncertainty, a Quality Growth approach 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 market capitalizations, favoring those with sustainable competitive advantages, strong management teams, and attractive growth runways. Selection: The selection process suggests a preference for companies that can compound earnings growth through cycles, with an emphasis on factors such as high returns on capital, robust free cash flow generation, and reasonable valuations relative to growth prospects. Construction: Portfolio construction is consistent with a diversified, conviction-weighted approach, with a focus on managing risk through position sizing, sector exposures, and a balance of cyclical and defensive holdings.

Portfolio Holdings Overview

SectoralAllocation

Utilities4.64%

Technology4.17%

Financial Services35.95%

Services12.28%

Consumers11.86%

Capital Goods21.43%

Energy & Infra9.67%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

Gold (1 Kg-1000 Gms) CommodityUtilities7.08%

Cash Offsets For Shorts & DerivativesUtilities6.16%

D) RepoUtilities5.79%

Cash Offset For DerivativesUtilities5.73%

Tata Gold ETFUtilities4.01%

HDFC Bank LtdFinancial Services4.00%

Reliance Industries LtdEnergy & Infra3.82%

Silver (30 Kg) Commodity^Utilities3.58%

Bharti Airtel LtdServices2.79%

Axis Bank LtdFinancial Services2.52%

Fund House Management

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

Fund Manager Track Record

Rahul Singh

Mr. Rahul Singh has experience of 20 years. Manages 119 funds at Tata Asset Management Pvt Ltd with an AUM of approximately ₹4,617 Cr Holds a PGDM degree.

71 years

Combined Team Experience

₹ 43,417 Cr

Assets Under Management

Murthy Nagarajan

Co-Portfolio Manager

Mr. Murthy Nagarajan has experience of 29 years. Manages 56 funds at Tata Asset Management Pvt Ltd with an AUM of approximately ₹4,617 Cr Holds a PGPMS degree.

Sailesh Jain

Co-Portfolio Manager

Mr. Sailesh Jain has experience of 18 years. Manages 46 funds at Tata Asset Management Pvt Ltd with an AUM of approximately ₹29,566 Cr Holds a M.B.A. degree.

Tapan Patel

Co-Portfolio Manager

Tapan Patel has experience of 3 years. Manages 20 funds at Tata Asset Management Pvt Ltd with an AUM of approximately ₹4,617 Cr

CW Expert Take

Tata AMC reflects the group's values-based approach to business. Their investment process emphasizes ESG integration and governance quality alongside financial metrics. The fund house takes measured positions, avoiding excessive concentration while maintaining conviction in quality franchises across equity and credit portfolios.

Investment Philosophy & Approach

Disciplined Approach

Tata AMC follows a disciplined investment approach focused on rigorous research.

Risk Management

Risk management is embedded in the investment process through robust controls.

Long-Term Perspective

The fund house adopts a long-term perspective in capital allocation decisions.

Operational & Regulatory Details

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

Costs and Fees

Total Expense Ratio (TER)1.59%

Exit Load1

Regulatory & Tax Information

INF277K012Z5

ISIN

DailyDealing Frequency

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

STCG | <1Year 20%%

Tax Implications (India)