Trust Mutual Fund
Trust Mutual Fund
Introduction to Trust Mutual Fund
Trust Mutual Fund, managed by TRUST Asset Management Private Limited (TRUST AMC), is a relatively new but significant entrant in the Indian mutual fund industry's retail segment. It was constituted as a Trust in October 2019, with its AMC incorporated in December 2017. The sponsor of Trust Mutual Fund is Trust Investment Advisors Private Limited (TIAPL), which is part of the larger TRUST Group.
The TRUST Group has a strong legacy in the financial world, particularly in the fixed-income distribution and non-banking debt capital market space, where TIAPL has been a top corporate bond arranger alongside leading banks for over the past five years. Trust Mutual Fund marks the group's strategic entry into the retail investment segment, leveraging its deep expertise in money management.
Trust Mutual Fund's investment philosophy is characterized by a commitment to transparency, risk-adjusted returns, and a "Limited Active Methodology" for most of its schemes (except the Overnight Fund). This methodology involves the fund manager predominantly aligning investments with an internally created and validated model portfolio. They have also partnered with CRISIL as a strategic knowledge partner, which assists in critically evaluating the investment universe and constructing model portfolios after due filtration.
Key aspects of their philosophy include:
- Clear, Credible, and Consistent Approach: Aiming for a structured and predictable investment style.
- Terminal Value Investing: For high-growth stocks, they believe significant value creation occurs beyond short-term forecasts, focusing on estimating the "terminal value" derived from intangibles, leadership, and megatrends.
- Spotting "Gorilla Companies": Their pursuit is to identify rare, dominant, unchallenged, and long-lasting companies in their industries.
- Risk-Adjusted Returns: A constant endeavor to provide optimal returns while managing inherent market volatility.
Fund Managers
Trust Mutual Fund has an experienced leadership and fund management team:
- Mr. Sandeep Bagla: Managing Director & CEO. He spearheads the overall business operations and strategy for Trust AMC, bringing decades of experience from various financial market leadership roles.
- Mr. Mihir Vora: Chief Investment Officer (CIO). With a remarkable career spanning nearly three decades, he is responsible for the overall investment strategy across various asset classes, including equity and fixed income.
- Mr. Aakash Manghani: Fund Manager - Equities. He is a seasoned professional with over 14 years of experience, known for his stock selection skills and active fund management in equity schemes.
- Mr. Anand Nevatia: Fund Manager - Fixed Income. He manages the debt schemes, having worked with the Trust Group in various roles in research, advisory, and portfolio strategies for two decades.
- Mr. Neeraj Jain: Fund Manager (mentioned in some AMFI and fund documents).
- Mr. Jalpan Shah: Fund Manager (mentioned in some AMFI and fund documents).
The collective expertise of this team, combined with their collaboration with CRISIL, forms the core of Trust Mutual Fund's investment management capabilities.
Scope of Trust Mutual Fund
Trust Mutual Fund's scope, though relatively newer to the retail mutual fund space, is strategically focused on core segments of the market:
- Fixed Income Specialization: Leveraging the TRUST Group's strong background in debt capital markets, they have a strong initial focus on fixed-income products. This allows them to offer a robust range of debt schemes across different durations and credit profiles.
- Limited Active Methodology: Their unique investment approach aims for a balanced strategy, providing a structured investment process that seeks to offer consistency and control deviations from their model portfolios.
- Equity Offerings: While initially focused on debt, they have expanded into equity schemes, particularly in the Flexi Cap and Small Cap categories, applying their "Terminal Value Investing" and "Gorilla Companies" philosophy.
- Strategic Knowledge Partnership: The collaboration with CRISIL enhances their research and portfolio construction process, particularly for their fixed-income offerings.
- Transparency and Risk Management: A key part of their scope is to maintain high levels of transparency and implement rigorous risk management practices to build investor trust.
- Gradual Product Expansion: They aim to gradually offer a complete suite of products in the future, indicating a planned expansion into more diverse mutual fund categories as they grow.
- Retail Market Focus: Their entry into mutual funds is specifically aimed at catering to the retail segment, making professional money management accessible to individual investors.
List of All Funds with Brief Explanation (Prominent Schemes)
As of July 2025, Trust Mutual Fund primarily offers a mix of fixed income and a few equity schemes. Here are some of their prominent funds:
Equity Funds:
- TRUSTMF Flexi Cap Fund: An open-ended equity scheme that invests across large-cap, mid-cap, and small-cap companies. This fund follows Trust Mutual Fund's "Terminal Value Investing" philosophy, aiming to identify "Gorilla Companies" for long-term capital appreciation.
- TRUSTMF Small Cap Fund: An open-ended equity scheme investing predominantly in equity and equity-related instruments of small-cap companies. It aims to generate long-term capital appreciation by investing in high-growth potential companies within the small-cap segment, aligning with their "Terminal Value Investing" framework.
Debt Funds:
- TRUSTMF Liquid Fund: An open-ended debt scheme that invests in highly liquid money market instruments with very short maturities. It's designed for investors seeking short-term capital preservation, high liquidity, and stable returns.
- TRUSTMF Overnight Fund: An open-ended debt scheme that invests exclusively in overnight instruments (maturing in one business day). It offers the lowest risk in the debt category and maximum liquidity, suitable for extremely short-term parking of funds.
- TRUSTMF Short Duration Fund: An open-ended debt scheme that invests in debt and money market instruments such that the Macaulay duration of the portfolio is between 1 year and 3 years. It aims to generate steady returns with moderate interest rate risk.
- TRUSTMF Banking & PSU Fund: An open-ended debt scheme that invests primarily in debt instruments issued by banks, Public Sector Undertakings (PSUs), and Public Financial Institutions (PFIs). It typically focuses on high-credit-quality instruments, aiming for relatively stable returns with lower credit risk.
- TRUSTMF Corporate Bond Fund: An open-ended debt scheme that invests predominantly in corporate bonds (minimum 80% in AAA rated instruments). It seeks to generate income and capital appreciation by investing in a diversified portfolio of corporate debt instruments with good credit quality.
- TRUSTMF Money Market Fund: An open-ended debt scheme that invests in money market instruments, aiming to generate stable returns with moderate liquidity and low risk.
- TRUSTMF Gilt Fund: An open-ended debt scheme that invests exclusively in Government Securities (G-Secs) across various maturities. It carries virtually no credit risk but is subject to interest rate fluctuations.
“Ready to watch your money grow? Let's explore how mutual funds can help you achieve your financial goals.”
“Experience a smarter way to grow your wealth. Wish N Gain helps you turn every investment wish into a solid gain.”
Other Mutual Fund Houses
