Baroda BNP Paribas Business Conglomerates Fund
Direct · GrowthAI Summary
The fund's 1Y SIP XIRR of -2.11% trails the category average of 10.7% by a wide margin, reflecting weak recent performance. However, on a lump-sum basis it has consistently outperformed the NIFTY 50 across all periods from 1Y to 15Y, with positive alpha ranging from 3.67% (1Y) to 0.31% (15Y). The 1Y fund CAGR of -6.16% compares favorably to the benchmark's -9.19%, indicating relative resilience in a declining market.
The fund's beta of approximately 1.03 shows it moves nearly in line with the NIFTY 50, while a downside capture of 98.27% (1Y) and 96.59% (longer periods) suggests it falls slightly less than the benchmark in down markets. The maximum drawdown of just -0.15% with a 128-day recovery indicates contained recent volatility, though 2 drawdown events exceeding 10% have occurred historically. The negative 1Y Calmar ratio of -0.3566 reflects the poor absolute returns over the past year rather than extreme drawdown risk.
The portfolio is diversified across 43 holdings, with the top 10 accounting for roughly 45% of NAV, led by Larsen & Toubro (7.79%) and Mahindra & Mahindra (7.34%). Sector exposure is spread across Automobiles (12.8%), Finance (11.7%), Consumer Durables (8.1%), Construction (7.8%), and IT (7.6%), consistent with a business conglomerates theme spanning capital goods, autos, and financials. This multi-sector spread reduces single-sector risk compared to narrower thematic funds.
Against sectoral/thematic peers, the fund significantly underperforms on SIP XIRR, with its -2.11% 1Y return versus the category's 10.7% average. Its lump-sum outperformance versus the NIFTY 50 across 1Y to 15Y windows suggests consistency in relative terms, though the modest alpha of 0.31% to 0.57% over longer horizons indicates only incremental outperformance. The low expense ratio of 0.6% supports net returns relative to peers.
This fund suits investors seeking thematic exposure to India's large business conglomerates and capex-linked sectors such as construction, autos, and finance, with a horizon of 5-7 years or more. It requires moderate-to-high risk tolerance, as thematic funds can underperform diversified peers for extended periods, as the current SIP XIRR gap versus the category demonstrates. It is best used as a satellite allocation rather than a core portfolio holding.
- Consistent lump-sum outperformance versus the NIFTY 50 across all periods from 1Y to 15Y, with positive alpha in every window
- Favorable downside capture of 96.59% to 98.27%, meaning the fund has historically fallen less than the benchmark in weak markets
- Low expense ratio of 0.6% and a diversified 43-stock portfolio spread across multiple sectors
- 1Y SIP XIRR of -2.11% badly lags the category average of 10.7%, indicating significant underperformance versus thematic peers on the primary investor return metric
- Negative absolute returns across lump-sum CAGRs from 1Y (-6.16%) to 15Y (-0.34%) highlight weak absolute performance despite relative benchmark outperformance
Generated on 20-10-2026, 3:08 AM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.20 L | 1.4% | -15.3% | 11.1% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY 50 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 1.4% | 14.3% | 10.7% | -12.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | -5.2% | -5.9% | -7.8% | -1.1% | -6.32 | -0.99 | 0% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +3.67 | 1.04 | 102.7% | 98.3% | -6.2% | -9.2% |
| 3 Years | +0.82 | 1.03 | 99.8% | 96.6% | -1.7% | -2.3% |
| 5 Years | +0.57 | 1.03 | 99.8% | 96.6% | -1.0% | -1.4% |
| 7 Years | +0.45 | 1.03 | 99.8% | 96.6% | -0.7% | -1.0% |
| 10 Years | +0.37 | 1.03 | 99.8% | 96.6% | -0.5% | -0.7% |
| 12 Years | +0.34 | 1.03 | 99.8% | 96.6% | -0.4% | -0.6% |
| 15 Years | +0.31 | 1.03 | 99.8% | 96.6% | -0.3% | -0.5% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Larsen & Toubro Limited | 7.79% |
| 2 | Mahindra & Mahindra Limited | 7.34% |
| 3 | Bajaj Finance Limited | 5.22% |
| 4 | Reliance Industries Limited | 4.71% |
| 5 | Titan Company Limited | 4.28% |
| 6 | UltraTech Cement Limited | 3.73% |
| 7 | Bajaj Auto Limited | 3.38% |
| 8 | JSW Steel Limited | 3.12% |
| 9 | Hindustan Zinc Limited | 2.93% |
| 10 | Tata Consultancy Services Limited | 2.87% |