a) During Q1FY21, the largest depletion in MF AUMs was seen by Birla MF and Templeton MF due to their large exposures to the vulnerable debt.
b) Fund Managers reduced weightage in Pharma sector by 50bps to 7.8% during the month of June 20 while Energy segment saw jump of 60bps to 9.4% but largely on account of rally in Reliance stock.
c) In Financials, NBFC and Private banks saw increase in weightage by 50bps & 40bps, respectively while PSU bank saw only muted growth of 10bps in weightage during the same period.
d) The weightage of Reliance Industries in the portfolio increased for several big names like SBI MF, ICICI MF, Axis MF, UTI MF, Aditya Birla MF and Kotak MF. It was largely driven by rally in the stock price. However, AMCs like ICICI, Axis & IDFC substantially bought this stock during June 2020.
e) FMs bought Financials like Kotak Mahindra Bank, Bajaj twins, Axis bank, SBI Life and IndusInd Bank during June 2020.
f) Mixed trends seen in the PSU stocks. Aditya Birla, SBI and Invesco sold in NTPC while ICICI MF and Nippon India were buyers. Fund houses like ICICI MF, Kotak MF & SBI MF reduced stake in Power Grid while HDFC MF and Nippon India increased their stake in this stock.
g) In telecom sector, Vodafone Idea was bought by Kotak MF, DSP MF, HDFC MF and Edelweiss MF while AMCs like SBI MF exited completely and Franklin (down ~40%) and ICICI MF reduced their stake. On Bharti Airtel, Funds like SBI MF, ICICI MF, HDFC MF and Mirae assets increased the stake while Kotak MF and L&T reduced the stake.
h) In healthcare segment, HDFC MF and Nippon India sold Aurobindo pharma while SBI MF, ICICI MF, Aditya Birla and Edelweiss bought this stock. In the case of Sun Pharma, several fund houses like ICICI MF, Kotak MF, DSP MF and Axis MF have reduced their exposure while Nippon India and Mirae Assets have increased their exposure.
i) New names added by these Fund Houses in their portfolio: 1) SBI MF: Andhra Paper, Ratnamani Metals and Supreme Industries; 2) HDFC MF: Wheels India, MCX, Can Fin Homes and Vodafone Idea; 3) Aditya Birla MF: Aarti industries, JSW Energy, Hexaware, Sunteck Realty and NALCO; 4) Axis MF: GSPL, Crompton Greaves; 5) Kotak MF: Vodafone Idea, Escorts, Tata Power, Piramal Enterprises, 3M and L&T Finance.
j) Stocks from which these Fund Houses exited completely: 1) SBI MF: Indostar Capital, AU Small Finance Bank and Ipca lab; 2) HDFC MF: SH Kelkar, Adani Power and Havells India; 3) Aditya Birla MF: Adani Power; 4) Axis MF: PVR, Varroc Engineering and Adani Power; 5) Kotak MF: Glenmark pharma & Adani Power.
Top Buy/Sell for leading Mutual Fund Houses: