Portfolio Holdings

Top 20 holdings as at 31 August 2023

Holding	Sector	% of Portfolio
IDFC Bank	Financials - Banks	6.0
Federal Bank	Financials - Banks	5.9
Ramkrishna Forgings	Materials	5.3
IndusInd Bank	Financials - Banks	4.7
Skipper	Industrials	4.1
Emami	Consumer Staples	3.9
Neuland Laboratories	Health Care	3.8
Dixon Technologies	Consumer Discretionary	3.4
Jyothy Laboratories	Consumer Discretionary	3.4
Persistent Systems	IT	3.3
Sona BLW Precision Forgings	Consumer Discretionary	3.3
PI Industries	Materials	3.0
Kajaria Ceramics	Industrials	2.9
Welspun India	Consumer Discretionary	2.9
Affle India	Communication Services	2.6
VIP Industries	Consumer Discretionary	2.6
JK Lakshmi Cement	Materials	2.6
CCL Products India	Consumer Staples	2.5
Balkrishna Industries	Consumer Staples	2.4
Uniparts India	Industrials	2,3

Portfolio analysis by sector as at 31 August 2023

Sector	No. of Companies	% of Portfolio
Financials	7	23.5
Consumer Discretionary	8	18.3
Materials	7	16.7
Industrials	6	15.0
Consumer Staples	3	9.8
IT	2	5.2
Health Care	1	3.8
Communication Services	1	2.6
Total Equity Investment	35	94.9
Net Cash		5.1
Total Portfolio	35	100.0

Portfolio analysis by market capitalisation size as at 31 August 2023

Market capitalisation size	No. of Companies	% of Portfolio
Small Cap (M/Cap < US$2bn)	17	45.4
Mid Cap (US$2bn < M/Cap < US$8bn)	15	41.8
Large Cap (M/Cap > US$8bn)	3	7.7
Total Equity Investment	35	94.9
Net Cash		5.1
Total Portfolio	35	100.0

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