Franklin (I) Prima Plus picks IT, oil: dumps banks, auto

Franklin India Prima Plus Fund increased its weightage to FMCG, IT, oil & gas, telecom, media, while slashed its exposure to banking, auto, engineering & capital goods and cement & construction sector. (View - What is Franklin India Prima Plus Fund buying / selling?)

The analysis of the scheme for May 2008 shows that in the FMCG pack, it introduced Hindustan Uniliver and bought Marico, and Dabur India. In IT sector, it purchased Infosys, Satyam and celery Services.

In the oil & gas space, it bought Reliance Industries. In telecom segment, it purchased Bharti Airtel. It bought IBN Broadcast, HT Media and Television Eighteen in the media pack.

The scheme purchased IDFC, Kotak Mahindra Bank and Axis Bank. However, it sold 3.75 lakh shares of ICICI Bank in the banking sector. In auto space, it exited Mahindra & Mahindra and Tata Motors. In engineering & capital goods sector, It exited Siemens. Similarly, in cement & construction pack, it exited Gammon India.

Infosys, HDFC and Bharti Airtel were the top stocks held by the scheme in May. Banking (25.40%)  Technology (14.98) and Telecom (9.32%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by Franklin India Prima Plus Fund).

The equity exposure of the scheme has rised from 94.25% to 96.13%. The cash in hand has dropped from 5.74% to 3.86%. The total assets managed by the scheme were of Rs 1587.35 crore as on May 31, 2008.
 
Over the last one-year, Franklin India Prima Plus Fund has yielded 4.9% returns as against 4.3% yielded by its benchmark S&P CNX 500 as on May 13, 2008.

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