• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Shanthi Venkataraman

THERE are no significant changes in the portfolio of UTI software fund in June.

The fund appears to have witnessed net outflows during the month.

While the net asset value of the fund has risen by 4 per cent over the month, the net assets of the fund have fallen by nearly 10 per cent.

This outflow has occurred even as the fund turned in a positive return of 2.5 per cent over the quarter ended June 2004.

The fund was among the top performing funds in the April- June quarter, owing to its focus on the IT sector, which has been relatively less affected by the downturn in the markets.

Holdings in a number of stocks such as Satyam, Wipro, HCL Infosys, I-Flex Solutions and Patni Computers have been reduced. Exposures in these stocks have fallen by more than 10 per cent.

Other stocks in which holdings have been reduced include Hughes Software, CMC and Polaris Software.

Stocks in which exposures remain unchanged include Geometric Software, HCL Infosys, TV 18, NIIT, Infotech Enterprises, Hexaware Technologies, Crest Communication, Trigyn Technologies and Ramco Systems.

The funds top ten holdings are: Infosys, Wipro, Satyam, MphasiS BFL, Hughes Software, HCL Technologies, I-Flex Solutions, Patni Computers, CMC and Zee Telefilms. The top three holdings account for about 40 per cent of the assets.

Fund facts: UTI Software fund was launched in May 1999. The size of the fund is Rs 186 crore. The minimum investment amount is Rs 5,000.

The entry load is 2 per cent. An exit load of 2 per cent is charged on all investments made after September 1, 2003. The fund manager is Mr Sanjay Dongre.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Investment Quiz

Copyright © 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line