Financial Daily from THE HINDU group of publications
Sunday, Jul 17, 2005
Financial Daily from THE HINDU group of publications Sunday, Jul 17, 2005 |
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Investment World
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Mutual Funds Markets - Mutual Funds Reliance Mutual Fund Shanthi Venkataraman
RELIANCE Mutual Fund, which has an aggressive fund management style, has made several changes across its portfolios in June. Business Line takes a look at how the fund house has re-jigged its portfolios at a time when markets are at their all-time high. The details for the analysis have been obtained from the mutual fund database, NAV India. Reliance Mutual took fresh exposures to ten stocks, even as it liquidated its holdings in six. It has added a mix of large-cap and mid-cap stocks to its portfolio. Reliance NRI Equity took exposures to large-cap stocks of ACC and Union Bank of India, while Reliance Vision and Reliance Equity Opportunities bought the stocks of Punjab National Bank and Aventis Pharma respectively. Blue Dart Express, Bombay Dyeing, NRB Bearings and Rolta India were a few of the mid-cap stocks that found their way into the portfolios of the fund house. The fund exited from the stocks of Arvind Mills, GlaxoSmithKline Pharma, Hero Honda, Raymond, Reliance Energy and United Phosphorous. Reliance Mutual appears to have tweaked its exposure to all stocks that were in its portfolios in May. The fund house enhanced exposures to the stock of Reliance Capital by about 80 per cent. The market value of its holdings in the stock has more than tripled in June. It has also raised its stake in the stocks of Wockhardt, LMW, Siemens, Tata Motors, Bharat Forge and Oriental Bank of Commerce. Holdings in the stock of Tata Tea were pared to half. Reliance Mutual also reduced its exposure to the stocks of Strides Arcolab, Maruti Udyog, Tata Steel, Apollo Tyres, ICICI Bank and Ceat. Fund facts: Reliance Mutual Fund was launched in 1995. It has launched 23 funds till date. Prominent funds in its fold include Reliance Growth and Reliance Vision. The fund house manages assets worth about Rs 8,000 crore, of which equity funds amount to about Rs 3,800 crore.
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