Portfolio Holdings

Top 20 holdings as at 31 January 2026

Holding	Sector	% of Portfolio
Multi Commodity Exchange	Financial Services	5.3
RBL Bank	Financial Banks	5.0
Federal Bank	Financials - Banks	4.7
Skipper	Industrials	4.6
IDFC Bank	Financial Banks	4.6
City Union Bank	Financials - Banks	4.2
Neuland Laboratories	Health Care	4.0
Affle	Digital	3.9
Persistent Systems	IT services	3.9
CCL Products India	Consumer Staples	3.6
Emami	Consumer Staples	3.5
JK Lakshmi Cement	Cement	3.2
Sona BLW Precision Forgings	Auto & Auto Ancillary	3.2
Cartrade Technologies	Digital	3.2
Dixon Technologies	Consumer Discretionary	3.0
Aether Industries	Chemicals	2.7
Kajaria Ceramics	Consumer Discretionar	2.7
Coforge	IT Services	2.7
Essel Propack	Consumer Staples	2.7
PI Industries	Chemicals	2.4

Portfolio analysis by sector as at 31 January 2026

Sector	No. of Companies	% of Portfolio
Auto & Auto Ancilliary	3	7.0
Cement	2	5.2
Chemicals	2	5.1
Consumer Discretionary	3	8.2
Consumer Staples	4	10.7
Digital	2	7.1
Energy	0	0.0
Financials Banks	4	18.5
Financial Services	2	7.4
Health Care	2	5.9
Industrials	6	13.4
IT Services	2	6.6
Metals	0	0.0
Real Estate	0	0.0
Textiles	2	2.6
Utilities	0	0.0
Total Equity Investment	34	97.7
Net Cash	0	2.3
Total Portfolio	34	100.0

Portfolio analysis by Market Capitalisation* as at 31 January 2026

Market Capitalisation Size	No. of Companies	% of Portfolio
Small Cap (M/Cap < US$3.5bn)	27	71.1
Mid Cap (US$3.5bn < M/Cap < US$10.5bn)	7	26.6
Large Cap (M/Cap > US$10.5bn)	0	0.0
Total Equity Investment	34	97.7
Net Cash	0	2.3
Total Portfolio	34	100.0

*Further information on our Market Capitalisation Reclassification review can be found here

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