Financial Daily from THE HINDU group of publications
Sunday, Aug 29, 2004
Financial Daily from THE HINDU group of publications Sunday, Aug 29, 2004 |
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Investment World
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Mutual Funds Markets - Mutual Funds Sundaram Select Focus Shanthi Venkataraman
AN exit from the stocks of Tata Power, Maruti and Bharti Tele-Ventures was the major change in the portfolio of Sundaram Select Focus in July. The fund invests in a select basket with concentrated exposures to sectors and stocks. It has generated an annual return of 46 per cent since its launch and 53 per cent over the past year. Fresh exposures were taken to the stocks of Tata Steel, Shipping Corporation, NALCO, MphasiS BFL, BHEL and ONGC. The portfolio, which now comprises of about 30 stocks, has acquired a more diversified hue. In terms of sector allocation, IT remains at the top of its pecking order of preferences. Enhanced exposures to the stocks of Reliance and IPCL, has boosted the presence of chemical stocks in its portfolio; the chemical sector is now among the top three holdings of the fund, displacing food products. Exposures to the stocks of LIC Housing Finance, Lupin and L&T have doubled. Other stocks in which holdings were raised include SBI, Infosys, Balrampur Chini, IOC, Union Bank of India and IPCA Labs, to name a few. Stocks in which exposures were cut by more than 20 per cent include Grasim, UltraTech CemCo, Hero Honda, Hughes Software and HCL Technologies. Holdings in Wipro and Container Corporation remained unchanged. The top ten holdings of the fund are Reliance, Infosys, Tata Steel, IPCL, Satyam, SBI, Tata Tea, Union Bank of India, Balrampur Chini and IOC. Fund facts: Sundaram Select Focus was launched in 2002. The fund has an asset base of Rs 74 crore. It offers dividend and growth options. The minimum investment amount is Rs 5,000. The fund manager is Ms Srividhya Rajesh.
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