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Shanthi Venkataraman

AN exit from the stock of Biocon and the addition of the stock of L&T to the community of construction and engineering stocks, are the major changes in the portfolio of DSP ML Equity Fund in June.

The fund has turned in a compounded return of 56 per cent over the past year, outperforming its benchmark by 23 percentage points.

The Banking sector remains the top sector holding of the fund. Paring of exposures in the stock of Wipro, one of its top ten holdings in May, led to a marginal decline in the fund's holdings in the IT sector. Holdings in the stocks of Maruti and BHEL have also been cut substantially.

The fund also appears to have increased its holdings in bluechip companies such as ONGC, Tata Steel, and Tata Motors. Investments have been stepped up in the stock of Tata Power by more than 60 per cent. Holdings in a good number of stocks remained relatively unchanged. These stocks include SBI, Infosys, Reliance, Bongaigaon Refinery, Thermax, Hindustan Zinc, Sesa Goa, Siemens, Indo Rama Synthetics, HLL and ICICI Bank

The top ten holdings of the fund include the stocks of Grasim, ONGC, SBI, Infosys, Reliance, Tata Power, Maruti Udyog, ITC, Tata Steel and Bharti Tele-Ventures.

Fund facts: DSP ML Equity fund, an open-ended equity fund, was launched in April 1997. The fund has an asset base of about Rs 70 crore. An entry load of 2 per cent is charged for investments up to Rs 2 crore; the load is waived for amounts greater than Rs 2 crore. There is no exit load. The fund manager is Anup Maheshwari

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