Mutual Fund Analysis

Mutual Fund Analysis

Read-only, SIPs included — never start, stop, pause, or modify one. reference/READ-ONLY-POLICY.md (hard rule) and reference/RESEARCH-STANDARDS.md (peer framework, tool availability, disclosure) apply. Works over whichever broker(s) BROKERS.md names active; resolve each capability below against reference/BROKER-CAPABILITIES.md.

Groww's MCP returns no mutual fund data — get_mutualfund_details is dead and fetch_etf_screener errors. If INDmoney is active, it's the one broker here with real fund data (details, category screens, SIP status — get_mf_funds_details, get_mf_by_category, mf_sips; still unverified, check the capability map's status table before trusting it live). Otherwise every fund figure here is web-sourced or user-supplied; say which is which, and never present an external number as a live broker one.

Steps

1. Establish the fund(s). The named fund comes from the user. The held set — for overlap and fit — comes from PORTFOLIO-PLAN.md (holdings, SIP register), or from INDmoney's holdings/SIP capability if active; if neither, ask for the list and offer portfolio-plan-builder, never assume one. Direct equity still comes live from the equity holdings capability, and exchange-traded funds have live prices via ETF symbol search + one batched LTP call.

2. Classify — category (large-cap/flexi-cap/debt/hybrid/index/sector) and benchmark; everything below is relative to that.

3. Peer comparison per the MF/ETF peer framework: expense ratio, rolling returns (not point-to-point) vs. benchmark and category median, AUM trend, manager tenure and consistency. For an active fund, report alpha net of expense ratio — a fund beating its benchmark by less than it charges isn't earning its fee even with "positive" alpha. For index funds and ETFs, tracking error matters more than raw returns. Prefer INDmoney's fund-details/category-screen capability where active; otherwise date-anchored WebSearch on AMFI / Value Research / Morningstar / the AMC factsheet — cite source and date per figure either way. Where the passive alternative is the real question ("is this active large-cap fund beating a Nifty 50 ETF after fees?" — it usually is), price the ETF leg live off symbol search + LTP and take its expense ratio and tracking error from INDmoney or the web.

4. Overlap. Compare top holdings and sector weights (from the factsheets/screens pulled in step 3) against the user's other funds and direct stocks (equity holdings capability, live). Three flexi-cap funds that are all 60% the same fifteen stocks add cost, not diversification.

5. News (optional). A manager change, AMC-level issue, or category-wide SEBI circular is worth a quick WebSearch before a strong view; a routine "should I hold this SIP" usually isn't.

6. View: worth holding / switch to [alternative] / redeem — on fee-adjusted performance and overlap, never a raw-returns comparison. Any SIP change is the user's action in their broker's app.

7. Present: fund summary first (category, expense ratio, benchmark, AUM), then peer/benchmark comparison, then overlap flags, then the view with the disclosure block. One line up top on where the fund data came from — live via INDmoney, or web-sourced — since it's rarely live Groww/Kite/Upstox data. Formal version: reference/templates/mutual-fund-analysis.md.