Portfolio Holdings

Top 20 holdings as at 31 December 2024

Holding	Sector	% of Portfolio
Skipper	Industrials	5.5
Federal Bank	Financials - Banks	5.5
Dixon Technologies	Consumer Discretionary	5.1
Neuland Laboratories	Health Care	4.8
Persistent Systems	Information Technology	4.4
Multi Commodity Exchange	Financial Services	3.9
Ramkrishna Forgings	Auto & Auto Ancillary	3.7
Emami	Consumer Staples	3.5
Affle India	Digital	3.4
PI Industries	Chemicals	3.0
IDFC Bank	Financials - Banks	2.8
Sona BLW Precision Forgings	Auto & Auto Ancillary	2.8
VIP Industries	Consumer Discretionary	2.7
CCL Products India	Consumer Staples	2.6
Gokaldas Exports	Textiles	2.6
RBL Bank	Financials - Banks	2.5
JK Lakshmi Cement	Materials	2.5
City Union Bank	Financials - Banks	2.4
Welspun India	Textiles	2.3
PSP Projects	Industrials	2.3

Portfolio analysis by sector as at 31 December 2024

Sector	No. of Companies	% of Portfolio
Auto & Auto Ancilliary	4	9.7
Cement	2	4.3
Chemicals	2	4.8
Consumer Discretionary	5	12.6
Consumer Staples	4	9.2
Digital	2	5.3
Energy	0	0.0
Financials Banks	5	15.2
Financials - Non Banking Financial Companies	1	1.0
Financial Services	1	3.9
Health Care	2	6.7
Industrials	5	12.7
IT Services	1	4.4
Metals	0	0.0
Real Estate	0	0.0
Textiles	2	4.9
Utilities	0	0.0
Total Equity Investment	36	94.8
Net Cash	0	5.2
Total Portfolio	36	100.0

Portfolio analysis by market capitalisation size as at 31 December 2024

Market capitalisation size	No. of Companies	% of Portfolio
Small Cap (M/Cap < US$2bn)	18	43.6
Mid Cap (US$2bn < M/Cap < US$8bn)	14	38.8
Large Cap (M/Cap > US$8bn)	4	12.5
Total Equity Investment	36	94.8
Net Cash	0	5.2
Total Portfolio	36	100.0

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