Financial Daily from THE HINDU group of publications
Sunday, Aug 22, 2004
Financial Daily from THE HINDU group of publications Sunday, Aug 22, 2004 |
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Investment World
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Mutual Funds Markets - Mutual Funds Sundaram Growth Fund Shanthi Venkataraman
SUNDARAM Growth Fund added as many as eleven stocks to its portfolio in July. The fund had a significant cash position of about 14 per cent of the total assets in June. Cash now accounts for only about 1.5 per cent of its portfolio. Exposures were taken to the stocks of Tata Steel, Hindalco, Shipping Corporation, SAIL, Chennai Petroleum, ITC, BHEL, IPCL, Bharti Tele-Ventures, Essar Steel and Sesa Goa. Exposures in the stocks of Reliance, Power Trading Corporation, Indian Rayon and National Aluminium were ramped up by more than 50 per cent. The fund also raised its holdings in the stocks of Dabur, Tata Tea, Century Textiles, IOC, Bajaj Auto and Satyam. Other changes in the portfolio include a complete exit from the stocks of HLL and L&T and a paring of exposures in the stocks of Infosys, Wipro, ACC, SBI, Tata Motors, UltraTech Cemco and Man Industries. There have been significant changes in the fund's sector preferences, too. The metals sector, which formed a rather insignificant part of the fund's holding in June, is now among the top three holdings of the fund. Exposures in automobile sector, which was previously the top sector holding, have been pared substantially. The top three sectors are now IT, Metals and Automobiles. Holdings remained unchanged in the stocks of i-flex solutions, Thermax, ABB, Nicholas Piramal, Siemens, ONGC and Cipla. Fund facts: Sundaram Growth Fund was launched in April 1997. The fund has an asset base of Rs 120 crore. It offers both dividend and growth options. The minimum investment amount is Rs 2,000. The fund manager is Mr N. Prasad. The fund's NAV has risen by 50 over the past year; Annual returns since launch have been 19 per cent.
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