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Tuesday, August 18, 2009

Bank-Private sector continues to lure equity diversified MFs

Computers, Software - Large sector follows it

Equity diversified funds continued to invest in Banks - Private Sector for the past three months of May, June and July 2009. Among 100 sectors, the equity diversified category had highest exposure to banking private sector, holding 8.25% in July 2009, however lower than the previous month.

In January 2009, equity diversified funds' holding in Banks - Private Sector was 8.06% in March 2009, which increased to 8.99% in May 2009 but decreased to 8.90% in June 2009 and further declined to 8.25% in July. Meanwhile the market value of the sector has increased by 1.29% to Rs 6510.03 crore in July 2009 from Rs 6426.82 crore in June 2009.

It was followed by Computers, Software - Large sector with 7.53% holding and market value of Rs 5938.89 crore. Refineries Sector stood at third position at 7.45% with market value of Rs 5878.89 crore in the month of July 2009. Banks Public Sector took 6.67% share having market value of Rs 5263.11 crore in total market value. Telecommunications - Service Provider hold market value of Rs 3740.12 crore with 4.74% in July 2009.



Fund wise, Franklin Templeton Mutual Fund held highest exposure in Banks - Private Sector with market value of Rs 1121.99 crore in July 2009. HDFC Mutual Fund followed it by investing in this sector with market value of Rs 1019.44 crore. ICICI Prudential Mutual Fund and Reliance Mutual Fund had investments in Banks - Private Sector with market value of Rs 583.55 crore, Rs 506.08 crore respectively in July 2009.

Scheme wise, HDFC Top 200 Fund had the highest market value of Rs 413.75 crore in Banks - Private Sector. Franklin India Bluechip Fund followed with investment of Rs 386.79 crore. HDFC Equity Fund, Morgan Stanley Growth Fund, and Franklin India Flexi Cap Fund had investment of Rs 368.29 crore, Rs 338.33 crore, and Rs 278.61 crore, respectively in July 2009. While ING Dividend Yield Fund, JM Multi Strategy Fund, Escorts Leading Sectors Fund, Escorts Growth Plan and Principal Emerging Bluechip Fund exited from Banks - Private Sector in July 2009.

Company wise, among Banks-Private Sector, equity diversified category had highest exposure to ICICI Bank with 45.04% hold and market value of Rs 2932.33 crore in July 2009 in this sector. HDFC Bank (hold 25.74%) followed it, Axis Bank (11.29%), and Federal Bank (5.24%) with market value of Rs 1675.77 crore, Rs 734.85 crore, and Rs 341.19 crore, respectively in July 2009. Kotak Mahindra Bank shared 4.78% with market value of Rs 311.05 crore and Yes Bank holds 3.52% having market value of Rs 229.40 crore in July 2009.

Equity diversified mutual funds during July 2009, were interested in buying stocks of companies such as Reliance Industries, State Bank of India, ICICI Bank, Bharti Airtel, Infosys Technologies, Oil & Natural Gas Corporation, ITC.

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