DSP Top 100 Equity Fund is an open-ended equity mutual fund managed by DSP Mutual Fund, focusing on investments in large-cap companies. Below are the key details:
Fund Details:
- Launch Date: March 10, 2003
- Assets Under Management (AUM): ₹4,600 crore (as of January 31, 2025)
- Expense Ratio: 1.93% (as of January 31, 2025)
- Risk Level: Very High
- Net Asset Value (NAV): As of March 18, 2025, the NAV for the Regular Plan Growth option is ₹475.69.
DSP Top 100 Equity Fund Share Price
As of April 4, 2025, the Net Asset Value (NAV) for the DSP Top 100 Equity Fund is as follows:
- Regular Plan – Growth Option: ₹438.72
Investment Details:
- Minimum Lump Sum Investment: ₹100
- Minimum SIP Investment: ₹100 (for 12 installments)
- Exit Load: 1% if redeemed within 12 months
Fund Managers of DSP Top 100 Equity Fund
As of April 2025, the DSP Top 100 Equity Fund is managed by Abhishek Singh. He has been overseeing the fund since June 1, 2022.
Abhishek Singh:
- Education: B-Tech from IIT Kanpur; PGDM from IIM Lucknow.
- Experience: Prior to joining DSP Mutual Fund, he worked with EdelCap Securities Limited in the Systematic Trading Division, Kotak Securities Limited in the Proprietary Trading and Structured Products Division, and Kotak Mahindra Investments Limited in the Structured Products Division.
Previously, the fund was co-managed by Vinit Sambre and Jay Kothari. However, as of June 2022, Abhishek Singh took over the management responsibilities.
Tax Implications:
- Returns are taxed at 20% if redeemed before one year. After one year, Long-Term Capital Gains (LTCG) tax of 12.5% is applicable on returns exceeding ₹1.25 lakh in a financial year.
Risk Considerations:
- The fund has a beta of 0.89, indicating higher sensitivity to market movements compared to its peers.
- A Sharpe ratio of 0.8 suggests that the fund’s risk-adjusted returns are lower than some other funds in the same category.
Conclusion:
DSP Top 100 Equity Fund has shown strong performance in recent years, particularly in the 3-year and 5-year periods. However, its higher expense ratio and volatility metrics indicate that it may be more suitable for investors with a higher risk tolerance and a long-term investment horizon. As always, it’s essential to align any investment with your individual financial goals and risk appetite.
DSP Top 100 Equity Fund Portfolio
As of February 28, 2025, the DSP Top 100 Equity Fund’s portfolio is primarily composed of equity and equity-related securities, with a significant allocation towards large-cap companies.
Asset Allocation:
- Equity & Equity Related Securities: 91%
- Debt Instruments: 9.18%
- Cash & Cash Equivalents: -0.18%
Top 5 Equity Holdings:
- HDFC Bank Limited: 9.64%
- ICICI Bank Limited: 9.11%
- ITC Limited: 5.47%
- Bajaj Finance Limited: 5.18%
- Axis Bank Limited: 5.07%
Sector Allocation:
- Banks: 31.45%
- Automobiles: 10.13%
- Pharmaceuticals & Biotechnology: 8.02%
- Finance: 7.26%
- Insurance: 6.23%
The fund’s strategy focuses on investing in large-cap companies, aiming to provide long-term capital appreciation by leveraging the stability and growth potential of established market leaders.
DSP Top 100 Equity Fund Returns
As of the latest available data, the DSP Top 100 Equity Fund has demonstrated the following performance across various time periods:
| Time Period | Absolute Returns | Annualized Returns | Category Average | Rank within Category |
| 1 Week | 2.12% | — | 3.20% | 33/34 |
| 1 Month | 0.68% | — | 1.07% | 19/34 |
| 3 Months | -1.13% | — | -2.92% | 4/34 |
| 6 Months | 11.13% | — | 6.39% | 2/33 |
| Year-to-Date | 22.74% | — | 17.21% | 1/32 |
| 1 Year | 33.53% | 33.11% | 28.29% | 4/32 |
| 2 Years | 52.88% | 23.54% | 19.00% | 2/31 |
| 3 Years | 62.44% | 17.52% | 14.53% | 5/30 |
| 5 Years | 104.22% | 15.33% | 16.35% | 21/27 |
| 10 Years | 193.44% | 11.36% | 12.24% | 22/25 |
| Since Inception (March 10, 2003) | 4488.38% | 19.25% | 15.48% | 7/34 |
These figures illustrate the fund’s performance over different periods, providing insight into its returns relative to category averages and its rank within the category.
DSP Top 100 Equity Fund Direct – Growth
As of March 18, 2025, the DSP Top 100 Equity Fund – Direct Plan – Growth has demonstrated the following performance across various timeframes:
| Time Period | Fund Return | Category Average | Rank within Category |
| 1 Year | 15.3% | 2.8% | 2 |
| 3 Years | 17.3% | 11.4% | 3 |
| 5 Years | 23.4% | 21.3% | 25 |
| Since Inception (Jan 1, 2013) | 12.4% | N/A | N/A |
These figures provide insight into the fund’s performance relative to its category peers over different periods.
DSP Top 100 Equity Fund Regular – Growth
As of December 6, 2024, the DSP Top 100 Equity Fund – Regular Plan – Growth has exhibited the following performance:
| Time Period | Absolute Returns | Annualized Returns | Category Average | Rank within Category |
| 1 Year | 27.56% | 27.47% | 24.74% | 8/32 |
| 2 Years | 53.02% | 23.66% | 19.67% | 4/32 |
| 3 Years | 62.55% | 17.53% | 14.97% | 6/30 |
| 5 Years | 108.99% | 15.87% | 16.97% | 21/27 |
| 10 Years | 190.82% | 11.26% | 12.31% | 22/25 |
Strengths of DSP Top 100 Equity Fund
1) Focus on Large Cap Stocks:
- Invests primarily in well-established, financially stable companies.
- Less volatile compared to mid or small-cap focused funds.
2) Experienced Fund Manager:
- Managed by Abhishek Singh, with over a decade of industry experience and strong educational credentials (IIT + IIM).
3) Consistent Long-Term Returns:
- Historical returns have beaten the benchmark and category average over longer horizons (3–5–10 years).
4) Diversified Portfolio:
- Broad exposure across sectors like banking, FMCG, finance, and auto, reducing sector-specific risk.
5) Strong Risk Metrics:
- Reasonable Sharpe ratio and standard deviation show efficient risk-adjusted performance.
6) High Liquidity:
- Large-cap stocks ensure quick entry/exit without significant impact cost.
Risks of DSP Top 100 Equity Fund
1) Moderate to High Expense Ratio (Regular Plan):
- At ~1.9%, it’s on the higher side compared to other large-cap funds (though the Direct Plan has a lower expense ratio).
2) Underperformance in Short Term:
- The fund may underperform during small/mid-cap rallies or when market favors high-beta stocks.
3) Concentration in Financial Sector:
- Heavy allocation (30%+) to financial services could impact returns during banking sector slowdowns.
4) Market Risk:
- As an equity mutual fund, it’s subject to overall market volatility and sentiment shifts.
5) Alpha Negative Recently:
- Alpha has been slightly negative, which means the fund hasn’t consistently outperformed its benchmark in recent quarters.
Conclusion:
The DSP Top 100 Equity Fund is a solid large-cap mutual fund that targets long-term capital appreciation by investing in top 100 companies by market capitalization. It offers stability, consistent long-term performance, and is managed by an experienced fund manager with a proven investment approach.
Best suited for:
- Conservative to moderate investors
- Those seeking lower volatility than mid/small-cap funds
- Long-term wealth creation (3–5 years or more)
Points to consider:
- Short-term returns may lag during market rallies led by mid or small caps
- Expense ratio is on the higher side in the Regular Plan
- Sector concentration (especially financials) could increase risk in down cycles
Verdict:
A dependable choice for long-term investors who prefer blue-chip exposure with steady growth potential. Consider the Direct Plan for better cost efficiency, and pair with a mid/small-cap fund for a more diversified equity portfolio.
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