DSP-ML Opportunities bullish on metal, oil, IT

DSP-ML Opportunities Fund augmented its weightage to metal, oil & gas, IT, while pared its exposure to cement, banking and media sector. (View - What is DSP-ML Opportunities Fund buying / selling?)

The analysis of the scheme for the month of February 2008 shows that in the metal pack, it bought  SAIL, Sterlite Industries, Tata Steel, Hindalco, Jindal Saw, but sold Sesa Goa. It purchased HPCL, Indian Oil, Reliance and ONGC in oil & gas sector. In the IT pack, it bought Infosys, Take Solution and Mphasis.

In the cement space, it introduced IRB Infra and bought Lanco Infra, BL Kashyap. However, it exited India Cements and sold Jaiprakash Associates. In the banking sector, it purchased Future Capital, Edelweiss Capital, Karur Vyasa Bank, ICICI Bank, while sold SBI and Indiabulls Financial. It sold conclomerate Grasim. Among the media stocks, it bought Deccan Chronicle, UTV Software, TV18, Dish TV and sold Zee Entertainment.

Reliance, SBI and ICICI Bank were the top stocks held by the scheme in February. Banking (14.63%), Oil & gas (10.42%) and Engineering (10.23%)were the top invested sectors in the scheme's portfolio, which comprised nearly 46% of the funds. (Check out - Top stocks held by DSP-ML Opportunities Fund).

The equity exposure of the scheme has dropped from 93.15% to 91.92%. The total assets managed by the scheme were of Rs 1486.51crore as on February 29, 2008.
 
Over the last one year, DSP-ML Opportunities Fund has yielded 21.5% returns as against 24.79% yielded by its benchmark S&P CNX 500 as on March 17, 2008.