DSP Equity Savings Fund
DSP Mutual Fund·Equity Savings·vs Nifty Equity Savings TRI
The fund is defensively positioned with over two-thirds equity exposure anchored in large-cap banks and government securities, aiming for stable returns with moderate downside protection. The manager is rotating away from concentrated bets on HDFC Bank and selective auto and pharma holdings, while adding tactical hedges through index puts and recalibrating towards sector diversification. This signals cautious optimism but wariness of near-term volatility, keeping the portfolio liquid and nimble rather than aggressively growth-oriented.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹24.8540 | — | — | — | — | — | — |
| Regular Growth | ₹22.0130 | +0.07% | -0.73% | -0.71% | +1.91% | +8.99% | +8.09% |
| Direct IDCW | ₹17.2030 | — | — | — | — | — | — |
| Direct IDCW | ₹17.1190 | — | — | — | — | — | — |
| Direct IDCW | ₹13.4910 | — | — | — | — | — | — |
| Regular IDCW | ₹11.9870 | — | — | — | — | — | — |
| Regular IDCW | ₹13.5110 | — | — | — | — | — | — |
| Regular IDCW | ₹13.5120 | — | — | — | — | — | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
114
Top 5 Weight
16.83%
Top 10 Weight
28.12%
Active Share
—
Large Cap
49.54%
Gini
0.496
What Changed2026-03-31 → 2026-04-30
Holdings: 107 → 117+5 added−7 removed44 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| Bank of Baroda | 0.98% |
| Punjab National Bank | 0.68% |
| TVS Motor Company Limited | 0.18% |
| NIFTY 23000 Put Jun26 | 0.29% |
| NIFTY 22500 Put Jun26 | 0.04% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | HDFC Bank Limited INE040A01034 | 4.77% |
| 2 | Reliance Industries Limited INE002A01018 | 3.25% |
| 3 | TREPS / Reverse Repo Investments | 3.12% |
| 4 | Axis Bank Limited INE238A01034 | 3.03% |
| 5 | ICICI Bank Limited INE090A01021 | 3.01% |
| 6 | HDFC Bank Limited INE040A01034 | 2.77% |
| 7 | 8.51% GOI FRB 2033 IN0020200120 | 2.51% |
| 8 | Mahindra & Mahindra Limited INE101A01026 | 2.49% |
| 9 | ITC Limited INE154A01025 | 2.32% |
| 10 | Cipla Limited INE059A01026 | 2.07% |
| 11 | Bharti Airtel Limited INE397D01024 | 1.91% |
| 12 | 7.38% GOI 2027 IN0020220037 | 1.91% |
| 13 | Bajaj Finance Limited INE296A01032 | 1.76% |
| 14 | Kotak Mahindra Bank Limited INE237A01036 | 1.70% |
| 15 | Larsen & Toubro Limited INE018A01030 | 1.66% |
| 16 | Titan Company Limited INE280A01028 | 1.60% |
| 17 | Hindalco Industries Limited INE038A01020 | 1.58% |
| 18 | Vodafone Idea Limited INE669E01016 | 1.57% |
| 19 | Sun Pharmaceutical Industries Limited INE044A01036 | 1.52% |
| 20 | Indus Towers Limited INE121J01017 | 1.47% |
Sector Allocation
Banks21.2%
Sovereign9.9%
CRISIL AAA8.9%
CRISIL A1+6.0%
Telecom - Services5.9%
Pharmaceuticals & Biotechnology5.7%
Automobiles4.8%
Insurance4.0%
Diversified FMCG3.4%
Petroleum Products3.3%
Top 10 sectors by % to NAV. Excludes derivatives.