Aditya Birla Select Sector Portfolio

Key Portfolio Attributes

Inception Date: 1 Aug 2009

Number of Stocks: 15 - 25

Fund Manager Name: Vishal Gajwani and Natasha Lulla

Fund Manager Qualification:

Vishal Gajwani is a Gold Medal winning Chartered Accountant (ICAI, India) and holds a Masters degree in Commerce from M.S. University of Baroda. Vishal received 4 Gold Medals, including the Chancellor’s Gold Medal, for topping the Master of Commerce Exams. Vishal is also a CFA charter holder from the CFA Institute (The Global Association of Investment Professionals), USA.

Natasha holds a Masters in Business Administration (Finance Major) from Management Development Institute, Gurgaon and was a Gold Medal winner in each of the two years. She was also awarded a Gold Medal for achieving 1st rank in the Finance stream. Natasha has done her graduation in Economics from Lady Shri Ram College, New Delhi and graduated amongst the top 1% in Delhi University.

Fund Manager Experience:

Vishal Gajwani, Head -Alternate Investments(Equity) With over 12 years of experience in equity research and portfolio management, Vishal has extensive expertise in researching companies across sectors and market capitalisations. Prior to this assignment he was a part of Reliance Portfolio Management Services (a part of Reliance Capital Asset Management Ltd), where he was designated as an Assistant Fund Manager and was responsible for managing equity portfolios.

Natasha Lulla, Portfolio Manager Over 11 years of experience in equity research and fund management. Prior to joining Aditya Birla Sun Life Portfolio Management Services, Natasha was working with Goldman Sachs as an equity analyst covering India Materials sector. In her earlier stint at Goldman Sachs, she was responsible for Portfolio Strategy for ASEAN regions and also covered Singapore Real Estate.

Investment Objective

The investment objective of the portfolio is to generate long-term capital appreciation and reasonable income in the form of dividends by investing in equity and equity related securities. Invest in High Quality businesses in Sectors with consistent Growth and ROE by identifying and participating in growth of these businesses over medium to long term as also practice Value Investing while making investment decisions.

Investment Strategy

• Focus on sectors with strong operating dynamics and growth visibility – target 80% of the portfolio to be invested in 4-6 sectors.

• Seek to co-own High quality businesses with consistent Growth and ROE profile across the identified sectors

• Stock selection and industry allocation independent of benchmark weights

• Use a value investing approach to focus on higher longer term returns

• Build a focused portfolio of ~15-25 high quality companies

• A cap of 10% on individual stock at cost

• Derivatives exposures in the portfolio will be in line with SEBI guidelines and will be taken only for hedging purposes.

Investment Philosophy

We firmly believe that bottom-up, fundamental research offers the best way to identify high-quality companies with above-average, sustainable earnings growth.


• Fundamental Research:

The portfolio construction process begins with fundamental analysis performed by equity analyst(s), which provides the portfolio management team with company and industry research. Investment ideas are also developed by analysing company and industry information from meetings with the company managements, suppliers, users, competitors, industry consultants and broker research community.


• Research Process:

The equity research process typically begins with an industry/sector overview to identify industry trends and provide a framework for individual security selection. Fundamental analysis at this level usually involves analysis of unit growth prospects, pricing power, international growth opportunities, the regulatory environment, and economic sensitivity. Analyst(s) develop a robust knowledge of the economic, political and international situations that affect the industries under study.

Performance Table #

Trailing Returns (%) 1m return 3m return 6m return 1y return 2y return 3y return 5y return 10y return Since inception return
Aditya Birla Capital Select Sector Portfolio8.50%18.80%24.20%56.50%41.30%24.20%27.10%18.50%17.80%
BSE 500 TRI7.10%11.70%16.70%38.30%30.90%19.90%20.00%15.30%13.80%

Portfolio Holdings

Holding %
BSE Limited 8.51
Persistent Systems Ltd 4.68
Hitachi Energy India Ltd 4.62
ICICI Bank Ltd 4.33
Lumax Industries Ltd 3.88
Federal Bank Ltd 3.42
JSW Energy Ltd 3.40
Triveni Turbine Ltd 3.29
National Aluminium Company Ltd 3.23
Thermax Ltd 3.10
Tata Motors Ltd 2.57
Kirloskar Brothers Ltd 2.45
CG Power and Industrial Solutions Limited 2.31
Tube Investments of India Limited 2.24
Dalmia Bharat Limited 2.22
Container Corporation of India Ltd 2.12
Aurobindo Pharma Ltd 2.11
Bosch Ltd 2.08
APL Apollo Tubes Limited 2.05
JK Cements Ltd 1.93
EID Parry India Ltd 1.91
Oberoi Realty Ltd 1.89
Rolex Rings Ltd 1.88
Zensar Technologies Ltd 1.86
PNC Infratech Limited 1.78
Ratnamani Metals and Tubes Ltd 1.77
Cipla Ltd 1.75
Coromandel International Ltd 1.69
Jubilant Foodworks Ltd 1.54
Deepak Fertilizers & Petro Corp Ltd 1.46
Page Industries Ltd 1.12
Navin Fluorine International Ltd 0.92
Ideaforge Technology Ltd 0.75
Cash 5.79

Sector Allocation

Holding %
Real Estate 2.14
Cash 2.49
Consumer Staples 3.76
Health Care 7.99
Information Technology 10.36
Industrials 10.87
Financials 16.48
Consumer Discretionary 19.60
Materials 26.31

Market Cap Allocation

Allocations %
Large Cap 39.30
Mid Cap 44.30
Small Cap 12.30
Cash 4.00

Do Not Simply Invest, Make Informed Decisions


imageBook a call with our PMS AIF Specialists


#Returns as of 30 June 2024. Returns up to 1 Year are absolute, above 1 Year are CAGR.

Do Not Simply Invest, Make Informed Decisions

Subscribe To Our Newsletter

By PMS AIF WORLD • Over 30,000 Subscribers

Stay informed about our exclusive analysis, reports, and valuable insights.

This will close in 0 seconds

This will close in 0 seconds