5 hrs ago
Helios and TRUST Flexi-Cap Funds Differ in Strategy and Returns
Helios and TRUST are two newer Indian funds that invest in shares of companies of different sizes.
Helios tries to avoid companies it considers risky or unsuitable.
TRUST looks for businesses it believes could grow a lot over the long term.
The article reports that Helios had higher annualised returns since launch, but the funds began at different times.
TRUST held a larger share of its investments in smaller companies and had a more concentrated sector portfolio.
It also bought and sold investments more often than Helios, according to the reported turnover figures.
Both funds have short track records, so their risks are not yet easy to compare.
The article says people should consider their goals and comfort with risk, rather than choosing a fund just because of past returns.
Helios Flexi Cap reported a 16.8% annualised return since its November 2023 launch; TRUST Flexi Cap reported 9.9% since April 2024, based on returns data dated October 7, 2026.
Helios applies Samir Arora’s elimination framework, while TRUST uses a terminal-value and “gorilla” investing approach focused on long-term growth.
Helios held 71 stocks and allocated about 57% to large-caps; TRUST held 66 stocks with about 48% in large-caps, according to September 30, 2026 portfolio data.
The article says TRUST’s top three sectors made up 72.4% of its portfolio, compared with 56.1% for Helios; their portfolio turnover ratios were 276% and 47%, respectively.
Both funds have less than three years of performance history, so the article says their risk measures cannot yet be reliably assessed and advises investors to consider their own goals and risk tolerance.
- Who
- Helios Flexi Cap Fund, associated with Samir Arora, and TRUST MF Flexi Cap Fund, associated with Utpal Sheth.
- What
- An article compares the funds’ investment approaches, portfolios, turnover and reported returns.
- Where
- India.
- When
- Portfolio data is dated September 30, 2026; returns data is dated October 7, 2026.
- Why
- To compare the newer flexi-cap funds and explain their different investment styles and portfolio characteristics.
Helios Flexi Cap
TRUST MF Flexi Cap
Investment approach
Helios Flexi Cap
Uses Samir Arora’s elimination-investing framework to screen out companies that fail its criteria, with an emphasis on avoiding red flags and reasonable valuations.
TRUST MF Flexi Cap
Uses a terminal-value and “gorilla” framework that seeks businesses with long-term growth potential, dominant positions and exposure to megatrends.
Portfolio activity and concentration
Helios Flexi Cap
The reported portfolio turnover ratio was 47%, and its top three sectors represented 56.1% of the portfolio.
TRUST MF Flexi Cap
The reported portfolio turnover ratio was 276%, and its top three sectors represented 72.4% of the portfolio.
Reported performance and risk
Helios Flexi Cap
The article reports 16.8% annualised returns since launch and describes Helios as somewhat more value-conscious, but its risk measures were unavailable because of its short record.
TRUST MF Flexi Cap
The article reports 9.9% annualised returns since launch and describes TRUST as more aggressive; it says the fund’s risk is difficult to assess given its short record.
Key facts
- Helios fund launch
- November 2023
- TRUST fund launch
- April 2024
- Reported annualised returns since launch
- Helios: 16.8% over 2 years and 10 months; TRUST: 9.9% over 2 years and 5 months.
- Number of holdings
- Helios: 71 stocks; TRUST: 66 stocks.
- Large-cap allocation
- Helios: about 57%; TRUST: about 48%, as reported for the latest portfolios.
- Top-three sector share
- Helios: 56.1%; TRUST: 72.4%.
- Portfolio turnover ratio
- Helios: 47%; TRUST: 276%.
- Investment horizon noted by the article
- At least five years.
Quotes
Howard Marks
Co-founder of Oaktree Capital Management
“Flexibility is the key to surviving and thriving in financial markets. If you bind yourself to rigid rules, you miss the unexpected opportunities that market dislocations always create.”
financialexpress.com
Sources
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