Samco Special Opportunities Fund
Direct · GrowthAI Summary
Samco Special Opportunities Fund has delivered negative returns across most measured periods, with a 1Y SIP XIRR of -0.31% versus a category average of 14.1%, a shortfall of roughly 14.4 percentage points. Over longer horizons, the fund's lump-sum CAGR has also trailed the NIFTY 50, with a 3Y CAGR of -4.08% against the benchmark's 0.97% and negative alpha at every window from 3Y to 15Y. Only the recent 1Y period shows positive alpha of 5.51%, suggesting a modest recent improvement after prolonged underperformance.
The fund's 1Y Calmar Ratio of -0.1348 reflects poor risk-adjusted returns, and the single drawdown event exceeding 10% lasted 215 days with no recorded recovery yet. Downside capture of 99.99% over 3Y and beyond means the fund has fallen almost in line with the benchmark during declines, while upside capture of only 92.35% shows it has participated less in rallies. This asymmetric capture profile, combined with a beta near 1.04, indicates the fund takes full market risk without delivering commensurate upside.
The portfolio holds 37 stocks with the top 10 accounting for roughly 33% of NAV, led by Religare Enterprises at 9.37%, which represents a meaningful single-stock concentration. Sector exposure is heavily tilted toward financials, with Banks (23.1%) and Finance (16.7%) together comprising nearly 40% of the portfolio, followed by Industrial Products at 21.0%. This concentrated, value-tilted allocation is consistent with the fund's special opportunities mandate but limits diversification.
Against sectoral/thematic peers, the fund significantly lags, with its 1Y SIP XIRR of -0.31% far below the category average of 14.1%. Calendar year returns of -7.05% in 2024 and -9.86% in 2025 show persistent negative absolute performance, though 2026 has turned positive at 5.13%. The consistent negative alpha across long-term windows suggests structural underperformance rather than a temporary phase.
This fund is suitable only for aggressive investors with high risk tolerance who understand the concentrated, thematic nature of the mandate and can tolerate extended drawdowns. A time horizon of at least 5-7 years is advisable given the current unrecovered drawdown and multi-year underperformance streak. Investors should treat it as a small satellite allocation rather than a core holding, and monitor whether the recent positive alpha and 2026 recovery sustain.
- Recent 1Y alpha of 5.51% over the NIFTY 50, with the fund's 1Y CAGR of 1.99% beating the benchmark's -2.9%
- Relatively low expense ratio of 0.86% for a direct-plan thematic fund
- Diversified 37-stock portfolio with no single holding other than Religare exceeding 3.2% of NAV
- Severe underperformance versus category peers, with 1Y SIP XIRR of -0.31% against a category average of 14.1%
- Negative alpha across all long-term windows (3Y to 15Y) and unfavorable capture asymmetry, with upside capture of 92.35% versus downside capture of 99.99%
- Unrecovered 215-day maximum drawdown and heavy concentration in financials (~40% in Banks and Finance) plus a 9.37% single-stock position in Religare Enterprises
Generated on 09-09-2026, 3:36 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 | ₹12.11 L | -0.3% | -29.9% | 16.3% |
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 | -0.3% | 14.4% | 14.1% | -14.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | -4.3% | -4.9% | -17.9% | 15.4% | -1.31 | -0.80 | 34% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +5.51 | 1.07 | 101.5% | 93.5% | 2.0% | -2.9% |
| 3 Years | -4.81 | 1.04 | 92.3% | 100.0% | -4.1% | 1.0% |
| 5 Years | -2.79 | 1.04 | 92.3% | 100.0% | -2.5% | 0.6% |
| 7 Years | -1.91 | 1.04 | 92.3% | 100.0% | -1.8% | 0.4% |
| 10 Years | -1.26 | 1.04 | 92.3% | 100.0% | -1.2% | 0.3% |
| 12 Years | -1.01 | 1.04 | 92.3% | 100.0% | -1.0% | 0.2% |
| 15 Years | -0.74 | 1.04 | 92.3% | 100.0% | -0.8% | 0.2% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Religare Enterprises Limited | 9.37% |
| 2 | Tata Steel Limited | 3.13% |
| 3 | TVS Motor Company Limited | 3.03% |
| 4 | Indian Bank | 3.01% |
| 5 | State Bank of India | 2.96% |
| 6 | City Union Bank Limited | 2.96% |
| 7 | The Federal Bank Limited | 2.88% |
| 8 | Hero MotoCorp Limited | 2.86% |
| 9 | Gujarat Mineral Development Corporation Limited | 2.81% |
| 10 | PTC Industries Limited | 2.78% |