Trend driven Dynamic allocation to equity based on fundamental and technical indicators to reduce volatility & drawdown, tax free rebalancing.
The fund that sings a different tune in the category is the Edelweiss Balanced Advantage Fund. The fund almost sleepwalked out of the market fall (just 7% down against the 1/3rd of the market) in March 2020.
This fund has had a history, in different forms. It was an Absolute Returns Fund until April 2017 when post a merger, it turned itself into a Dynamic Equity Advantage Fund. Post the SEBI categorisation, it took its latest avatar.
The fund has followed more or less a similar strategy over the years – using fundamental and technical indicators weaved into an internal model to determine equity allocations. Edelweiss MF website has all the details about how their model functions.