{"id":4868,"date":"2020-06-27T03:28:54","date_gmt":"2020-06-27T03:28:54","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=4868"},"modified":"2021-12-15T13:22:35","modified_gmt":"2021-12-15T13:22:35","slug":"does-your-portfolio-have-concentration-risk","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/does-your-portfolio-have-concentration-risk\/","title":{"rendered":"Does your portfolio have concentration risk?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69d6a688473e9\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69d6a688473e9\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/does-your-portfolio-have-concentration-risk\/#Index_Returns\" title=\"Index Returns\">Index Returns<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/does-your-portfolio-have-concentration-risk\/#Top_5_best_performing_funds\" title=\"Top 5 best performing funds\">Top 5 best performing funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/kuvera.in\/blog\/does-your-portfolio-have-concentration-risk\/#Top_5_worst_performing_funds\" title=\"Top 5 worst performing funds\">Top 5 worst performing funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/kuvera.in\/blog\/does-your-portfolio-have-concentration-risk\/#What_Investors_Bought\" title=\"What Investors Bought\">What Investors Bought<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/kuvera.in\/blog\/does-your-portfolio-have-concentration-risk\/#What_Investors_Sold\" title=\"What Investors Sold\">What Investors Sold<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/kuvera.in\/blog\/does-your-portfolio-have-concentration-risk\/#Most_Watchlisted_Fund\" title=\"Most Watchlisted Fund\">Most Watchlisted Fund<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/kuvera.in\/blog\/does-your-portfolio-have-concentration-risk\/#Top_ELSS_funds\" title=\"Top ELSS funds\">Top ELSS funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/kuvera.in\/blog\/does-your-portfolio-have-concentration-risk\/#Movers_Shakers\" title=\"Movers &amp; Shakers\">Movers &amp; Shakers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/kuvera.in\/blog\/does-your-portfolio-have-concentration-risk\/#Quote_of_the_week\" title=\"Quote of the week:\">Quote of the week:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/kuvera.in\/blog\/does-your-portfolio-have-concentration-risk\/#Interested_in_how_we_think_about_the_markets\" title=\"Interested in how we think about the markets?\">Interested in how we think about the markets?<\/a><\/li><\/ul><\/nav><\/div>\n<p><strong>Concentration risk<\/strong> is the potential for a particular investment or a few stocks to threaten the health of an investment portfolio. Concentration risk, especially in the index, has been a topic of much debate for the past two years. Large-cap indices have not only outperformed handsomely, the outperformance has been driven by the largest stocks. As the chart below shows, the S&amp;P BSE Smallcap index is still ~35% below all-time highs made in early 2018, while the BSE Sensex is only ~15% below all-time-highs made early this year.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-4903\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/06\/pic1.png\" alt=\"\" width=\"782\" height=\"514\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/06\/pic1.png 782w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/06\/pic1-300x197.png 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/06\/pic1-768x505.png 768w\" sizes=\"(max-width: 782px) 100vw, 782px\" \/><\/p>\n<p>Within the large-cap index, it has been the largest stocks that have driven the returns. For example,\u00a0<a href=\"https:\/\/kuvera.in\/explore\/stocks\/l\/reliance-industries-ltd\" target=\"_blank\" rel=\"noopener noreferrer\">Reliance Industries<\/a>\u00a0has handily outpaced the index in the past five years, despite being the largest constituent in the index.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-4904\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/06\/pic1-1.png\" alt=\"\" width=\"782\" height=\"511\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/06\/pic1-1.png 782w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/06\/pic1-1-300x196.png 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/06\/pic1-1-768x502.png 768w\" sizes=\"(max-width: 782px) 100vw, 782px\" \/><\/p>\n<p>Similar concentration risk trends have been seen globally. The most famous example is that of Microsoft, Apple, Amazon, Google and Facebook, the five largest US companies, which constitute 15% of the US market capitalization. They have led the US stock markets higher while the broader indices have struggled. If we look at recent data, post-2000 then indeed the largest companies now constitute a higher portion of the index that ever before. But longer-term data available for the US markets suggest that the largest 5 companies have historically averaged 17% of US market capitalization, with market capitalization share reaching as high as 25% over multiple decades pre-1970.<\/p>\n<p>The problem is more acute for our indices as they have fewer constituents &#8211; S&amp;P 500 and Nasdaq\u00a0 100 have 500 and 100 stock constituents compared to 30 and 50 for BSE Sensex and Nifty 50. That exacerbates concentration in our indices.\u00a0The largest\u00a0five\u00a0companies in the BSE Sensex (<a href=\"https:\/\/kuvera.in\/explore\/stocks\/l\/reliance-industries-ltd\" target=\"_blank\" rel=\"noopener noreferrer\">RIL<\/a>,\u00a0<a href=\"https:\/\/kuvera.in\/explore\/stocks\/l\/hdfc-bank-ltd\" target=\"_blank\" rel=\"noopener noreferrer\">HDFC Bank<\/a>,\u00a0<a href=\"https:\/\/kuvera.in\/explore\/stocks\/l\/housing-development-finance-corp-ltd\" target=\"_blank\" rel=\"noopener noreferrer\">HDFC<\/a>,\u00a0<a href=\"https:\/\/kuvera.in\/explore\/stocks\/l\/infosys-ltd\" target=\"_blank\" rel=\"noopener noreferrer\">Infosys<\/a>,\u00a0<a href=\"https:\/\/kuvera.in\/explore\/stocks\/l\/icici-bank-ltd\" target=\"_blank\" rel=\"noopener noreferrer\">ICICI<\/a>)\u00a0now constitute 49% of the index. and they constitute 41% of Nifty 50. A prudent\u00a0risk manager would advise keeping the concentration of any one stock to be under 5% unless you are explicitly taking a concentrated bet, even then a 10% allocation to a single stock shows signs of high concentration.<\/p>\n<p>So, what is an index investor to do?<\/p>\n<p>First, realize that this concentration can continue to increase in the near term. Second, realize that the problem is more acute for Indian indices because they are less diversified. What we would recommend is that if you have only invested in BSE Sensex and Nifty 50 then this is the right time to look at Nifty Next 50 and add it to your mix. You can also look at equal weight Nifty 50 index that caps each constituent to be only 2% of the index to specifically avoid such concentration risk. Both the\u00a0equal weight Nifty 50 index and Nifty Next 50 index are part of our\u00a0<a href=\"https:\/\/kuvera.in\/blog\/nov-2019-kuvera-recommended-portfolio-update\/\" target=\"_blank\" rel=\"noopener noreferrer\">recommended portfolio.\u00a0<\/a><\/p>\n<p>&nbsp;<\/p>\n<p><iframe loading=\"lazy\" title=\"Kuvera Quick Takes: Investing in Passive Funds Part 3\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/qC9gVNbtBEQ?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>In our ongoing series\u00a0<a dir=\"auto\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/results?search_query=%23KuveraQuickTakes\">#KuveraQuickTakes<\/a>, Neelabh, our COO &amp; Co-Founder, continues the conversation with\u00a0Pratik,\u00a0Head &#8211; Passive funds, Motilal Oswal to answer several questions you need to know about investing in passive funds.<\/p>\n<p>&nbsp;<\/p>\n<p><b>Taxpayers will now have time until July 31, 2020, to complete their tax-saving<\/b><span style=\"font-weight: 400;\"> exercise for the financial year 2019-20. The deadline for filing income tax returns for FY 2018-19 has also been extended by a month till July 31, 2020.\u00a0 The central government had earlier extended these deadlines to June 30, 2020. Visit our <\/span><a href=\"https:\/\/kuvera.us18.list-manage.com\/track\/click?u=9460ade7a36b92bd9a14f2bfd&amp;id=5166f8d485&amp;e=6e7eef6306\"><span style=\"font-weight: 400;\">ELSS Help Center<\/span><\/a><span style=\"font-weight: 400;\"> to learn everything you need to know to save taxes while investing in Mutual Funds. You can find ELSS funds on Kuvera <\/span><a href=\"https:\/\/kuvera.us18.list-manage.com\/track\/click?u=9460ade7a36b92bd9a14f2bfd&amp;id=9939c9efe3&amp;e=6e7eef6306\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><b>SEBI has introduced a <\/b><a href=\"https:\/\/www.sebi.gov.in\/legal\/circulars\/jun-2020\/operational-framework-for-transactions-in-defaulted-debt-securities-post-maturity-date-redemption-date-under-provisions-of-sebi-issue-and-listing-of-debt-securities-regulations-2008_46912.html\"><b>framework for transactions in defaulted debt securities<\/b><\/a><span style=\"font-weight: 400;\">. The move is aimed at creating\u00a0 liquidity for securities that would otherwise be rendered illiquid in case of a default. The regulator has asked exchanges, depositories and debenture trustees to put in place necessary systems and infrastructure for implementation of this framework by June 29. The new guidelines would be enforced from July 1.<\/span><\/p>\n<p><a href=\"https:\/\/kuvera.in\/explore\/amc\/uti\"><b>UTI AMC<\/b><\/a><b> has received SEBI approval for an IPO<\/b><span style=\"font-weight: 400;\">. Existing shareholders of the fund house are looking to sell 3.90 crore shares in the issue. The IPO could help raise about Rs 3,500 crore for the country\u2019s seventh-largest mutual fund house. UTI will become the third Indian mutual fund company to go public after <\/span><a href=\"https:\/\/kuvera.in\/explore\/amc\/nippon\"><span style=\"font-weight: 400;\">Nippon Life Asset Management<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/kuvera.in\/explore\/amc\/hdfc\"><span style=\"font-weight: 400;\">HDFC Mutual Fund<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Index_Returns\"><\/span><strong>Index Returns<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Index<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td height=\"19\">NIFTY 50<\/td>\n<td>1.4%<\/td>\n<td>-12.3%<\/td>\n<td>2.7%<\/td>\n<\/tr>\n<tr>\n<td height=\"19\">NIFTY NEXT 50<\/td>\n<td>3.0%<\/td>\n<td>-4.6%<\/td>\n<td>-0.3%<\/td>\n<\/tr>\n<tr>\n<td height=\"19\">S&amp;P BSE SENSEX<\/td>\n<td>1.3%<\/td>\n<td>-11.1%<\/td>\n<td>4.1%<\/td>\n<\/tr>\n<tr>\n<td height=\"19\">S&amp;P BSE SmallCap<\/td>\n<td>2.9%<\/td>\n<td>-10.8%<\/td>\n<td>-6.4%<\/td>\n<\/tr>\n<tr>\n<td height=\"19\">S&amp;P BSE MidCap<\/td>\n<td>3.6%<\/td>\n<td>-10.4%<\/td>\n<td>-3.1%<\/td>\n<\/tr>\n<tr>\n<td height=\"19\">NASDAQ 100<\/td>\n<td>-1.6%<\/td>\n<td>29.0%<\/td>\n<td>19.4%<\/td>\n<\/tr>\n<tr>\n<td height=\"19\">S&amp;P 500<\/td>\n<td>-2.9%<\/td>\n<td>3.3%<\/td>\n<td>7.2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: BSE \/ NSE<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Top_5_best_performing_funds\"><\/span><strong>Top 5 best performing funds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/dsp-world-gold-growth--DS758-GR\">DSP World Gold<\/a><\/td>\n<td>6.0%<\/td>\n<td>45.6%<\/td>\n<td>15.5%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/icici-prudential-bharat-22-fof-growth--IC5005-GR\">ICICI Prudential Bharat 22 Fof<\/a><\/td>\n<td>4.4%<\/td>\n<td>-33.4%<\/td>\n<td>NA<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/aditya-birla-sun-life-digital-india-growth--BS16Z-GR\">Aditya Birla Sun Life Digital India<\/a><\/td>\n<td>4.4%<\/td>\n<td>4.1%<\/td>\n<td>16.4%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/aditya-birla-sun-life-infrastructure-growth--BS293GZ-GR\">Aditya Birla Sun Life Infrastructure<\/a><\/td>\n<td>4.2%<\/td>\n<td>-21.1%<\/td>\n<td>-7.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/icici-prudential-yield-equity-growth--8573-GR\">ICICI Prudential Yield Equity<\/a><\/td>\n<td>4.0%<\/td>\n<td>-16.4%<\/td>\n<td>-4.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Top_5_worst_performing_funds\"><\/span><strong>Top 5 worst performing funds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/edelweiss-us-value-equity-off-shore-growth--EDUSD1-GR\">Edelweiss US Value Equity Off Shore<\/a><\/td>\n<td>-3.9%<\/td>\n<td>2.2%<\/td>\n<td>6.7%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/icici-prudential-global-stable-equity-growth--8344-GR\">ICICI Prudential Global Stable Equity<\/a><\/td>\n<td>-3.3%<\/td>\n<td>4.9%<\/td>\n<td>6.0%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/hsbc-brazil-growth--HSHBFG-GR\">HSBC Brazil<\/a><\/td>\n<td>-2.9%<\/td>\n<td>-28.0%<\/td>\n<td>1.3%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/icici-prudential-us-bluechip-equity-growth--8133-GR\">ICICI Prudential US Bluechip Equity<\/a><\/td>\n<td>-2.9%<\/td>\n<td>22.8%<\/td>\n<td>16.7%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/franklin-india-feeder-franklin-european-growth-fund-growth--FT708-GR\">Franklin India Feeder Franklin Europe&#8230;<\/a><\/td>\n<td>-2.9%<\/td>\n<td>-13.4%<\/td>\n<td>-5.0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"What_Investors_Bought\"><\/span><strong>What Investors Bought<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>We saw the most inflows in these 5 Funds \u2013<\/p>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/parag-parikh-long-term-equity-growth--PP001ZG-GR\">Parag Parikh Long Term Equity<\/a><\/td>\n<td>2.6%<\/td>\n<td>8.3%<\/td>\n<td>10.0%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/mirae-asset-large-cap-growth--MAFIOD1-GR\">Mirae Asset Large Cap<\/a><\/td>\n<td>1.8%<\/td>\n<td>-9.6%<\/td>\n<td>4.3%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/motilal-oswal-nasdaq-100-fund-of-fund-growth--MON1GD-GR\">Motilal Oswal Nasdaq 100 Fund Of Fund<\/a><\/td>\n<td>-0.6%<\/td>\n<td>43.9%<\/td>\n<td>NA<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/sbi-small-cap-growth--SBD346G-GR\">SBI Small Cap<\/a><\/td>\n<td>2.1%<\/td>\n<td>-2.7%<\/td>\n<td>4.8%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/axis-long-term-equity-growth--TSDG-GR\">Axis Long Term Equity<\/a><\/td>\n<td>1.4%<\/td>\n<td>-4.3%<\/td>\n<td>6.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"What_Investors_Sold\"><\/span><strong>What Investors Sold<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>We saw the most outflows in these 5 Funds \u2013<\/p>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/quantum-long-term-equity-value-growth--QMFEF-GP\">Quantum Long Term Equity Value<\/a><\/td>\n<td>1.6%<\/td>\n<td>-20.1%<\/td>\n<td>-3.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/l-t-midcap-growth--LT17D-GR\">L&amp;T Midcap<\/a><\/td>\n<td>2.9%<\/td>\n<td>-7.1%<\/td>\n<td>-0.9%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/kotak-emerging-equity-scheme-growth--KO123D-GR\">Kotak Emerging Equity Scheme<\/a><\/td>\n<td>2.5%<\/td>\n<td>-6.2%<\/td>\n<td>0.8%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/hdfc-balance-advantage-growth--GFGT-GR\">HDFC Balance Advantage<\/a><\/td>\n<td>2.4%<\/td>\n<td>-15.7%<\/td>\n<td>2.0%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/uti-nifty-next-50-index-growth--UTNYG1-GR\">UTI Nifty Next 50 Index<\/a><\/td>\n<td>3.0%<\/td>\n<td>-3.6%<\/td>\n<td>NA<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Most_Watchlisted_Fund\"><\/span><strong>Most Watchlisted Fund<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Top 5 funds added to\u00a0<a href=\"https:\/\/app.kuvera.in\/explore\/watchlist\">watchlist<\/a>\u00a0by Kuverians<\/p>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/franklin-india-feeder-franklin-us-opportunities-growth--FR496-GR\">Franklin India Feeder Franklin US Opp&#8230;<\/a><\/td>\n<td>0.5%<\/td>\n<td>35.3%<\/td>\n<td>23.9%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/parag-parikh-long-term-equity-growth--PP001ZG-GR\">Parag Parikh Long Term Equity<\/a><\/td>\n<td>2.6%<\/td>\n<td>8.3%<\/td>\n<td>10.0%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/icici-prudential-us-bluechip-equity-growth--8133-GR\">ICICI Prudential US Bluechip Equity<\/a><\/td>\n<td>-2.9%<\/td>\n<td>22.8%<\/td>\n<td>16.7%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/axis-bluechip-growth--AXEFDG-GR\">Axis Bluechip<\/a><\/td>\n<td>1.3%<\/td>\n<td>-2.9%<\/td>\n<td>10.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/pgim-india-global-equity-opportunities-growth--PRGAD1-GR\">PGIM India Global Equity Opportunities<\/a><\/td>\n<td>0.5%<\/td>\n<td>40.6%<\/td>\n<td>25.1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Top_ELSS_funds\"><\/span><strong>Top ELSS funds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/idbi-equity-advantage-growth--TSG1-GR\">IDBI Equity Advantage<\/a><\/td>\n<td>3.2%<\/td>\n<td>-3.7%<\/td>\n<td>1.9%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/jm-tax-gain-growth--TGDG-GR\">JM Tax Gain<\/a><\/td>\n<td>2.8%<\/td>\n<td>-8.8%<\/td>\n<td>3.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/parag-parikh-tax-saver-growth--PPTSFGZ-GR\">Parag Parikh Tax Saver<\/a><\/td>\n<td>2.8%<\/td>\n<td>NA<\/td>\n<td>NA<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/aditya-birla-sun-life-tax-relief96-growth--BS02GZ-GR\">Aditya Birla Sun Life Tax Relief96<\/a><\/td>\n<td>2.7%<\/td>\n<td>-1.7%<\/td>\n<td>4.4%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/essel-long-term-advantage-growth--PLLAGD-GR\">Essel Long Term Advantage<\/a><\/td>\n<td>2.5%<\/td>\n<td>-10.8%<\/td>\n<td>0.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Movers_Shakers\"><\/span><b>Movers &amp; Shakers<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><b>1\/ <\/b><a href=\"https:\/\/kuvera.in\/explore\/amc\/hdfc\"><b>HDFC Mutual Fund<\/b><\/a><span style=\"font-weight: 400;\"> has appointed Vikash Agarwal as the co-fund manager for HDFC Floating Rate Debt Fund and HDFC Money Market Fund with effect from 01 July 2020.<\/span><\/p>\n<p><b>2\/ <\/b><a href=\"https:\/\/kuvera.in\/explore\/amc\/edelweiss\"><b>Edelweiss Mutual Fund<\/b><\/a><span style=\"font-weight: 400;\"> has appointed Radhika Gupta, Chief Executive Officer and a key person of Edelweiss Asset Management Limited <\/span><span style=\"font-weight: 400;\">as a Managing Director on the Board of Edelweiss Asset Management Limited, with effect from 01 July 2020.<\/span><\/p>\n<p><b>3\/ <\/b><a href=\"https:\/\/kuvera.in\/explore\/amc\/nippon\"><b>Nippon India Mutual Fund<\/b><\/a><span style=\"font-weight: 400;\"> has announced that Hardik Shah ceases to be a fund manager of the AMC with effect from 29 June 2020. <\/span><span style=\"font-weight: 400;\">The fund house has <\/span><a href=\"https:\/\/www.nipponindiamf.com\/InvestorServices\/Addenda\/Notice-No-24-W12-x-H18.pdf\"><span style=\"font-weight: 400;\">changed fund management responsibilities<\/span><\/a><span style=\"font-weight: 400;\"> for the relevant schemes<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Quote_of_the_week\"><\/span><strong>Quote of the week:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<blockquote><p>&nbsp;<\/p>\n<div class=\"css-1dbjc4n r-156q2ks\">\n<div class=\"css-901oao r-hkyrab r-1qd0xha r-1blvdjr r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0\" dir=\"auto\" lang=\"en\">\n<p>And still, after all this time,<\/p>\n<p>the Sun has never said to the Earth,<\/p>\n<p>\u2018You owe me.\u2019<\/p>\n<p>Look what happens with a love like that.<\/p>\n<p>It lights up the sky.<\/p>\n<p>: Hafiz, 14th-century Persian poet<\/p>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Interested_in_how_we_think_about_the_markets\"><\/span>Interested in how we think about the markets?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Read more:\u00a0<a href=\"https:\/\/kuvera.in\/blog\/category\/zen-and-the-art-of-investing\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Zen And The Art Of Investing<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>Watch\/hear on YouTube:<\/p>\n<p><iframe loading=\"lazy\" title=\"Kuvera Insights: Investing in International Markets\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/pRxDIlbABmk?list=PLDSzQdT9nLmDSP3gSlDkPcUl-cfeI-KeB\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit\u00a0<a href=\"https:\/\/www.kuvera.in\/\"><strong>kuvera.in<\/strong><\/a>\u00a0to discover\u00a0<a href=\"https:\/\/kuvera.in\/blog\/direct-plans-better\/\"><strong>Direct Plans<\/strong><\/a> and <a href=\"https:\/\/kuvera.in\/user\/login\"><strong>start investing today.<\/strong><\/a><\/p>\n<p>#MutualFundSahiHai, #KuveraSabseSahiHai!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Concentration risk is the potential for a particular investment or a few stocks to threaten the health of an investment portfolio. Concentration risk, especially in the index, has been a topic of much debate for the past two years. Large-cap indices have not only outperformed handsomely, the outperformance has been driven by the largest stocks. [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/does-your-portfolio-have-concentration-risk\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":2,"featured_media":4908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[173],"tags":[209,359,279,167,259,83,36,225,11,66,280,281,154,212,360,226,249,274,229,213],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Does your portfolio have concentration risk? - Kuvera<\/title>\n<meta name=\"description\" content=\"What is concentration risk? 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