April 30, 2026
RA Jainee
Baroda BNP Paribas Manufacturing Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 10.72 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 10.72 |
| Min. Investment (Rs.) | 1,000 |
| Min. SIP Investment (Rs.) | 500 |
| Min. No of Cheques | 6 |
| Benchmark | Nifty India Manufacturing TRI |
| AUM Rs. | 804 Cr |
| (As on 31-Mar-2026) | |
| Expense | 1.15% |
| 1 Year Return (%) | 17.71 |
| 3 Year Return (%) | — |
| 5 Year Return (%) | — |
| 10 Year Return (%) | — |
| Return Since Launch | 3.93% |
⚖️ Sahifund Review – Baroda BNP Paribas Manufacturing Fund ✔
PLUS:
• Strong 1-year return of 17.71%, indicating good early traction in the manufacturing theme
• Direct play on India’s Make in India and capex cycle, a long-term structural story
• Well-diversified exposure within manufacturing ecosystem across sectors
• Experienced fund managers with strong institutional background
• Category relevance increases with government push on manufacturing growth
• Suitable for SIP-based investing to average out cyclical volatility
• Moderate AUM (Rs. 804 Cr) allows flexibility in portfolio positioning
• Potential to outperform during industrial and capex upcycle phases
MINUS:
• Very limited track record (recent launch) – no long-term consistency proven
• Thematic concentration increases sector-specific risk
• High expense ratio (1.15%) compared to diversified funds
• Returns heavily dependent on economic and capex cycles
• Can significantly underperform in non-manufacturing led markets
• Lack of diversification across sectors vs flexicap funds
• Volatility risk higher due to thematic exposure
• Return since launch (3.93%) indicates uneven performance phases
Sahifund View (Decisive Line):
A high-potential thematic bet on India’s manufacturing story, but best suited only as a small SIP allocation—not a core portfolio holding.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Nobody should invest in Manufacturing funds in our opinion, because:
• They have a narrow focus on only companies following the manufacturing theme
• Instead, diversified equity funds which invest across sectors/themes are better
If you still choose to invest:
1. Invest only through SIP
2. Have a 7+ year investment horizon
3. Be prepared to withstand interim sharp declines in investment value
Fund’s Investment Strategy:
The scheme to generate long-term capital appreciation from a portfolio invested predominantly in equity and equity related securities of companies engaged in the Manufacturing. The Scheme does not guarantee/indicate any returns. There is no assurance that the investment objective of the Scheme will be achieved.
Fund Manager:
1) Jitendra Sriram
Education: Mr. Sriram is a B.E (Electrical) and holds a post graduate diploma in Business Management.
Experience: Prior to joining Baroda BNP Paribas Mutual Fund, he has worked with HSBC AMC, Deutsche Equities Pvt. Ltd., HSBC Securities, Capital Markets Pvt. Ltd. and ITC Classic Share & Stock Broking.
2) Kushant Arora
Education: CA, FRM
Experience: Prior to Joining the Baroda BNP paribas asset management Ltd. He has worked with VLS Finance Ltd , Baroda asset management India Ltd, UTI asset management com Ltd and Axis sercurities.
Investment Details
| Min. Investment (Rs) | 1,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 500 |
| Min. Withdrawal (Rs) | 1,000 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | For units in excess of 10% of the investment, 1% will be charged for redemption within 1 year |
Basic Details of Baroda BNP Paribas Manufacturing Fund
| Fund House | Baroda BNP Paribas Mutual Fund |
| Launch Date | 28-Jun-24 |
| Return Since Launch | 3.93% |
| Benchmark | Nifty India Manufacturing TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | 804 Cr |
| (As on 31-Mar-2026) | |
| Expense | 1.15% |
| (As on 31-Mar-2026) | |
| Risk Grade | — |
| Return Grade | — |
| Turnover | 56.00% |
Baroda BNP Paribas Manufacturing Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Baroda BNP Paribas Manufacturing Dir | 3.74 | -0.65 | 7.97 | 8.54 | 6.47 | 17.71 | — | — | — | — |
| BSE India Manufacturing TRI | -2.39 | -0.78 | 6.04 | 1.52 | -0.24 | 10.46 | — | — | — | — |
| Equity: Thematic-Manufacturing | 1.36 | -0.76 | 9.06 | 7.54 | 1.28 | 13.34 | — | — | — | — |
| Rank within category | 4 | 5 | 11 | 6 | 1 | 3 | — | — | — | — |
| Number of funds in category | 17 | 17 | 17 | 17 | 17 | 16 | 5 | 2 | 2 | 1 |
Peer Comparison of Baroda BNP Paribas Manufacturing Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| Baroda BNP Paribas Manufacturing Dir | Unrated | 17.71 | — | — | 1.15 | 804 | 3.93 | 1.00 (365) | 1Y 9M | 56.00 |
| HDFC Manufacturing Dir | Unrated | 12.14 | — | — | 0.84 | 9,255 | 6.44 | 1.00 (30) | 1Y 11M | 27.09 |
| ICICI Pru Manufacturing Dir | Unrated | 15.88 | 26.46 | 23.21 | 0.81 | 5,867 | 20.13 | 1.00 (365) | 7Y 6M | 27.00 |
| Axis India Manufacturing Dir | Unrated | 13.33 | — | — | 0.47 | 4,681 | 18.49 | 1.00 (90) | 2Y 4M | 55.00 |
| Kotak Manufacture in India Dir | Unrated | 16.71 | 23.82 | — | 0.59 | 2,401 | 19.96 | 0.50 (90) | 4Y 2M | 36.17 |
Baroda BNP Paribas Manufacturing Fund Portfolio
| No. of Stocks | 41 |
| Top 10 Stocks | 43.48% |
| Top 5 Stocks | 27.39% |
| Top 3 Sectors | 65.26% |
| Portfolio P/B Ratio | 4.82 |
| Portfolio P/E Ratio | 31.96 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 1,04,329 | 1,06,533 |
| Giant (%) | — | — |
| Large (%) | 52.89 | 56.46 |
| Mid (%) | 27.45 | 23.46 |
| Small (%) | 19.66 | 20.07 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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