Baroda BNP Paribas Business Conglomerates Fund
Direct · GrowthAI Summary
The fund's 1Y SIP XIRR of 9.80% trails the category average of 14.1% by a meaningful margin, indicating underperformance versus sectoral/thematic peers. However, on a lump-sum basis it has consistently outperformed the NIFTY 50 across all periods, with a 1Y Fund CAGR of 3.88% against the benchmark's -2.03% and positive alpha at every horizon from 1Y (6.17%) to 15Y (0.59%). Absolute returns remain modest, so the outperformance is relative rather than a sign of strong absolute growth.
Risk metrics appear benign, with a maximum drawdown of just -0.15% over 87 days and only one drawdown event exceeding 10%, suggesting limited severe losses in the measured window. The recovery period of 128 days is longer than the drawdown duration itself, which merits monitoring. With a beta of 1.03, upside capture of 102.34%, and downside capture of 92.58%, the fund captures slightly more upside than the benchmark while losing less in downturns — a favorable risk-adjusted profile.
The top 10 holdings account for roughly 46% of NAV, led by Larsen & Toubro (7.59%), Mahindra & Mahindra (7.36%), and Reliance Industries (6.89%), spread across 43 total holdings. Sector exposure is reasonably diversified, with Automobiles (12.8%) and Finance (12.2%) as the largest allocations, followed by Construction, IT, and Consumer Durables. The portfolio reflects a business-conglomerate theme with large-cap quality names dominating the book.
Against sectoral/thematic peers, the fund lags on SIP returns, with its 1Y XIRR of 9.80% well below the category average of 14.1%. Its lump-sum consistency versus the NIFTY 50 is a positive, with positive alpha across every measured horizon, though absolute CAGRs under 4% at 1Y and under 1.4% at longer horizons are weak in absolute terms. The fund appears better suited as a benchmark-relative performer than a category leader.
This fund suits investors with high risk tolerance seeking thematic exposure to India's large business conglomerates, ideally as a satellite holding of 5-10% of the portfolio rather than a core allocation. A time horizon of at least 5-7 years is advisable given the thematic nature and modest absolute returns over shorter windows. Investors should be comfortable with sector concentration risk and the possibility of extended underperformance versus broader diversified funds.
- Consistent positive alpha versus NIFTY 50 across all horizons, with 1Y alpha of 6.17%
- Favorable capture ratios — 102.34% upside and 92.58% downside — indicating better-than-benchmark risk-adjusted behavior
- Well-diversified 43-stock portfolio with a reasonable top-10 weight of about 46% of NAV
- 1Y SIP XIRR of 9.80% significantly trails the category average of 14.1%, showing peer underperformance
- Absolute long-term returns are weak, with lump-sum CAGRs below 1.4% across 3Y to 15Y horizons
- Thematic concentration in conglomerate-linked sectors such as Automobiles and Finance carries cyclical risk
Generated on 05-09-2026, 3:03 AM. Verify before investing.
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 | ₹12.54 L | 9.8% | 7.0% | 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 | 9.8% | 14.4% | 14.1% | -4.6% |
Not enough data to compute rolling returns.
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +6.17 | 1.03 | 102.3% | 92.6% | 3.9% | -2.0% |
| 3 Years | +2.18 | 1.03 | 102.3% | 92.6% | 1.3% | -0.7% |
| 5 Years | +1.38 | 1.03 | 102.3% | 92.6% | 0.8% | -0.4% |
| 7 Years | +1.05 | 1.03 | 102.3% | 92.6% | 0.6% | -0.3% |
| 10 Years | +0.79 | 1.03 | 102.3% | 92.6% | 0.4% | -0.2% |
| 12 Years | +0.69 | 1.03 | 102.3% | 92.6% | 0.3% | -0.2% |
| 15 Years | +0.59 | 1.03 | 102.3% | 92.6% | 0.3% | -0.1% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Larsen & Toubro Limited | 7.59% |
| 2 | Mahindra & Mahindra Limited | 7.36% |
| 3 | Reliance Industries Limited | 6.89% |
| 4 | Bajaj Finance Limited | 5.41% |
| 5 | Titan Company Limited | 3.96% |
| 6 | UltraTech Cement Limited | 3.53% |
| 7 | Bajaj Auto Limited | 3.12% |
| 8 | Tata Consultancy Services Limited | 2.88% |
| 9 | Torrent Pharmaceuticals Limited | 2.77% |
| 10 | JSW Steel Limited | 2.75% |