Franklin (I) Flexi Cap bets on IT, telecom

Franklin India Flexi Cap Fund has augmented its weightage to IT, telecom, while pared its exposure to banking, metal, media, engineering and capital goods sector. (View - What is Franklin India Flexi Cap Fund buying / selling?)

The analysis of the scheme for April 2008 shows that in the IT pack, it introduced TCS and bought Infosys. In the telecom space, it made fresh buy in Idea Cellular.

It introduced Yes Bank, India Infoline, but sold Axis Bank, Federal Bank, ICICI Bank, Kotak Mahindra Bank and 16.24 lakh shares of IDFC in the banking segment. In the metal sector, it sold Sterlite Industries and Tata Steel.

In the media pack, it sold Zee Entertainment. In engineering & capital goods sector, it sold Cummins India, LG Balkrishnan & Bros. and exited Mundra Port. However, it purchased BHEL in the same.

BHEL, Bharti Airtel and Larsen were the top stocks held by the scheme in March. Banking (18.37%), Engineering (17.47%) and Telecom (13.45%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by Franklin India Flexi Cap Fund).

The equity exposure of the scheme has rised from 90.72% to 96.57%. The cash in hand has dropped from 9.28% to 3.43%. The total assets managed by the scheme were of Rs 2708.29 crore as on April 30, 2008.
 
Over the last one-year, Franklin India Flexi Cap Fund has yielded 11.4% returns as against 20.36% yielded by its benchmark S&P CNX 500 as on May 12, 2008.

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