The Hindu Business Line : Kotak Mutual slant to IT, banking

KOTAK Mahindra Mutual fund is managed by Kotak Mahindra Asset Management Company, a wholly-owned subsidiary of Kotak Mahindra Bank. The fund house has reduced its exposures in several stocks over June and July. Business Line takes a look at the churn in the fund's equity schemes for the above period. The analysis was based on details from the mutual fund database NAV India.

Kotak Mahindra has an equity portfolio of 129 stocks across various sectors with 30 per cent of the value concentrated in information technology, banking, electric equipment and electronic components and engineering. In the last two months the fund appears to have adopted a cautious strategy and pared exposures in the bull market, as is evident from a net decrease in the value of its exposures by about Rs 133 crore.

A sector-wise analysis reveals that the fund house has entered the power and airlines sectors through exposures to Reliance Energy and Jet Airways respectively. It has enhanced its exposures to tea, automobile and ceramics by more than 100 per cent while it partially liquidated stocks in construction and pharma sector.

The fund house had concentrated more than 50 per cent of its fresh exposures in Assam Company, Grasim Industries and Television Eighteen India. Steel stocks such as Tata Steel and SAIL appeared to have lost favour as the fund completely exited these stocks.

Kotak Mahindra increased its exposures to less than ten stocks in the said period. Mild corrections in midcap stocks during the period did not deter the fund house from accumulating stocks such as Hindustan Sanitaryware, Nahar Spinning Mills and Navin Fluorine International. Apollo Tyres, Abbott India and MTNL were some of the stocks where the fund house pared exposures significantly.

The top five stocks in Kotak's portfolio as of July 31 were Infosys, Siemens, Aventis Pharma, EID Parry and Deccan Chronicle. Over the two months, the fund reduced its total exposures to these stocks by about 20 per cent.

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