Financial Daily from THE HINDU group of publications
Sunday, May 16, 2004
Financial Daily from THE HINDU group of publications Sunday, May 16, 2004 |
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Investment World
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Mutual Funds Markets - Mutual Funds HDFC Top 200 Shanthi Venkataraman
FRESH exposures in the steel sector and enhanced exposures in the oil & gas sector appear to be the main changes in the portfolio of HDFC Top 200 in the last two months. The fund has added SAIL and Tata Steel to its portfolio, which together constitute about 2.92 per cent of its portfolio. Exposures in oil and gas sector stocks such as ONGC and BPCL have been stepped up, with ONGC now figuring in the top ten holdings of the fund. Stocks in the pharma sector have also seen some significant changes. The stocks of Ranbaxy and Dr Reddy's have been added to the portfolio although the biggest holding in the pharma sector continues to be the stock of Sun Pharmaceuticals. The fund has also sold its holdings in Lupin and Biocon.. In terms of stock selection, exposure in the stock of Grasim, which was the largest holding of the fund in March, has been pared by about 12 per cent. However, it still figures among the top ten holdings. The fund has taken fresh exposures in the stocks of Tata Motors, Indian Overseas Bank and GAIL; it has sold its holdings in Punjab National bank, Larsen & Toubro, Neyveli Lignite, Cummins India and Oriental Bank of Commerce. Holdings in the stocks of Hero Honda, Ashok Leyland and Federal Bank have been enhanced. With the FMCG sector exhibiting signs of sluggishness, the fund has pared exposures in HLL, Britannia and P& G. Top ten holdings: SBI, Reliance industries, Grasim, IOC, ONGC, Container Corporation, Infosys, Wipro, Satyam, and Mahindra & Mahindra. Fund facts: The fund was launched in 1996. The minimum investment amount is Rs 1,000. The entry load is 2 per cent for sums less than Rs 2 crore and 0.25 per cent for sums of Rs 2 crore-5 crore. For sums greater than Rs 5 crore, no entry load is charged. The exit load is Nil. The fund manager is Mr Prashant Jain.
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