  We propose a novel approach for analysis of the composition of an equity
mutual fund based on the time series decomposition of the price movements of
the individual stocks of the fund. The proposed scheme can be applied to check
whether the style proclaimed for a mutual fund actually matches with the fund
composition. We have applied our proposed framework on eight well known mutual
funds of varying styles in the Indian financial market to check the consistency
between their fund style and actual fund composition, and have obtained
extensive results from our experiments. A detailed analysis of the results has
shown that while in majority of the cases the actual allocations of funds are
consistent with the corresponding fund styles, there have been some notable
deviations too.
