Financial Daily from THE HINDU group of publications
Sunday, Oct 26, 2003
Financial Daily from THE HINDU group of publications Sunday, Oct 26, 2003 |
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Investment World
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Mutual Funds Markets - Mutual Funds UTI Services: Hold
The fund invests in companies from the services sector. The wide ambit has ensured that it has a diversified portfolio. As a result, the risks are not as high as they normally are in a sector-specific fund. The fund's move to enhance exposures to the information technology sector could, however, enhance the risks as uncertainties still abound in this sector, despite the recent signs of recovery. Fresh exposures can be considered in a phased manner, taking advantage of any decline in the broad markets. This may be effective as the fund has a focus on large-cap stocks, and also ensure that investors benefit from lower entry points. Enhanced exposures: The fund has stepped up its holdings in Wipro, HDFC Bank, HCL Technologies and Tata Power. Stocks out: Oriental Bank of Commerce and Alstom Projects. Pared exposures: Holdings have been reduced in GAIL, Corporation Bank, Canara Bank, Hindustan Petroleum, ICICI Bank, UTI Bank, Zee Telefilms, State Bank of India and Indian Oil Corporation. Top ten holdings: SBI, Infosys, Wipro, ICICI Bank, HPCL, HDFC Bank, Bharti Tele-Ventures, MTNL, Satyam Computers and HCL Technologies. Sector preferences: The fund has enhanced exposures to the IT Sector by adding Wipro and HCL Technologies. Four tech stocks now form part of the top ten holdings. Banking sector holdings have been cut though holdings in HDFC Bank have been stepped up. Exposure to the oil and gas sector was also lower at the end of September 2003.
S. Vaidya Nathan
Article E-Mail :: Comment :: Syndication
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