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Tuesday, November 10, 2009

Equity diversified fund takes highest exposure in private sector banking

 Computers - Software - Large sector follow it 


Equity diversified funds had highest investment exposure in Bank-Private sector in October 2009. Equity diversified funds plunged in the past one month on the back of corrections in the market. Thus, returns of equity funds shrunk by 4.55% in October 2009 over September 2009. They surged 6.96% in September 2009 after the markets rallied about 7.50% in September 2009. 

Equity diversified funds invests in various sectors. Among 99 sectors, the equity diversified funds had highest exposure to Banks - Private Sector in October 2009. The market value of the sector had however, decreased by 2.56% to Rs 7884.08 crore in October 2009 from Rs 8091.23 crore in September 2009. Due to fall in stock prices of many private sector banks on expectations of tightening monetary policy, the market value of the investments in this sector has declined.


It was followed by Computers - Software - Large sector with 7.19% holding at market value of Rs 6339.93 crore. Refineries had 7.03% holding in equity diversified funds. Banks - Public Sector at fourth position with market value of Rs 6047.51 crore in October 2009. Construction took 4.68% share in total market value of equity diversified funds having market value of Rs 4129.23 crore. Oil Drilling / Allied Services hold market value of Rs 4069.81 crore with 4.61% share in October 2009.

Fund wise, Franklin Templeton Mutual Fund held highest exposure in Banks - Private Sector with market value of Rs 1324.42 crore in October 2009. HDFC Mutual Fund followed it by investing in this sector with market value of Rs 1175.56 crore. ICICI Prudential Mutual Fund and Reliance Mutual Fund had investments in Banks - Private Sector with market value of Rs 766.43 crore, Rs 648.59 crore respectively in October 2009.

Scheme wise, HDFC Top 200 Fund had the highest market value of Rs 512.42 crore in Banks - Private Sector. Franklin India Bluechip Fund followed with investment of Rs 427.45 crore. HDFC Equity Fund, Franklin India Flexi Cap Fund, and Morgan Stanley Growth Fund had investment of Rs 412.48 crore, Rs 350.81 crore, and Rs 314.73 crore, respectively October 2009. Canara Robeco F.O.R.C.E. Fund entered into the private banking sector with market value of Rs 30.49 crore in October 2009.While IDFC Small & Midcap Equity Fund exited from Banks - Private Sector in October 2009.


Top 10 equity diversified funds in Banks - Private Sector
Scheme Name
Mkt Val*
31 Oct 2009
Mkt Val*
30 Sep 2009
Mkt Val
Change*
Mkt Val
Change (%)
HDFC Top 200 Fund
512.42
512.42
0.00
0.00
Franklin India Bluechip Fund
427.45
445.47
-18.01
-4.04
HDFC Equity Fund
412.48
412.48
0.00
0.00
Franklin India Flexi Cap Fund
350.81
380.96
-30.15
-7.91
Morgan Stanley Growth Fund
314.73
314.73
0.00
0.00
Franklin India Prima Plus
292.90
302.40
-9.50
-3.14
Fidelity Equity Fund
264.64
264.64
0.00
0.00
SBI Magnum SFU - Contra Fund
240.71
240.71
0.00
0.00
Reliance Equity Advantage Fund
189.84
197.49
-7.65
-3.87
Franklin India High Growth Companies Fund
183.89
207.02
-23.13
-11.17
*Values in Rs crore


Company wise, among Banks-Private Sector, equity diversified category had highest exposure to ICICI Bank with 44.13% hold and market value of Rs 3479.51 crore in October 2009 in this sector. HDFC Bank (hold 21.83%) followed it, Axis Bank (15.43%), and Federal Bank (4.72%) with market value of Rs 1721.46 crore, Rs 1216.86 crore, and Rs 371.83 crore, respectively in October 2009. Yes Bank shared 3.84% with market value of Rs 302.60 crore and Kotak Mahindra Bank holds 3.27% having market value of Rs 257.56 crore in October 2009.

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