A closer look at Reliance Top 200 and Reliance Equity Opportunities, both managed by Sailesh Raj Bhan and rated Silver by our analysts.
Tejas Shah
Proprietor of Silicon One and Silicon Systems, AMFI-registered Mutual Fund Distributor since 2004, based in Vadodara.
Reliance Top 200 and Reliance Equity Opportunities are both managed by Sailesh Raj Bhan, with Reliance AMC since 2003. His style is fundamentals-driven and growth-at-a-reasonable-price, favouring companies with healthy, rising ROEs and sustainable competitive advantages even at a premium valuation.
Reliance Top 200 (Large Cap, 4 stars)
After a 2011 mandate change allowed investment beyond a strict index-aligned large-cap universe into the top 200 companies by market cap, Bhan's small/mid-cap bets (like Prestige Estate Projects and Shoppers Stop) drove a strong 2012, though the following year's overweight to small/mid-caps and a few individual stock calls led to mild category underperformance.
This fund takes larger thematic bets — up to roughly 20% in emerging/niche themes — balanced with value picks and 40-60% in large caps for stability. It beat its category average for seven consecutive years before running into a rough patch more recently.
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