SANDIP SABHARWAL

Our low volatility large cap portfolio Target Bluechip had a good month with strong outperformance. We are fully invested as we are not negative on the markets. The portfolio was up 2.4% for the month while the Nifty rallied by 4.14%. We continue to target 5% outperformance over the Nifty every year. The last one year returns are 10.4% Vs slight negative returns of -0.6% for the Nifty. Since inception returns are at over 150% with a CAGR of 25% a huge outperformance over the Nifty. From holding cash in 2022 we went fully invested during the quarter. This is an ideal product for low risk investors looking for steady returns. We have outperformed all Large Cap Mutual Fund schemes since inception... Our small cap Winners Plan did well during 2022 given the extreme volatility in the small cap segment. We have 13 recommendations running in the plan at this stage. The average return of open and closed recommendations during 2022 was 14% which is very strong given that the Nifty 100 Smallcap..

Registration numbers: INA000000425 (W), INH000008109 (W)