Reliance Equity bets on metal, IT; sells pharma

Reliance Equity Fund increased weightage to metal, IT, while decreased its exposure to the pharma sector. (Complete List - What is Reliance Equity Fund buying / selling?)

The analysis of the scheme for the month of June 2008 shows that in the metal pack, it introduced SAIL. In the IT pack, it introduced TCS. In pharma space, it exited Ranbaxy. Weightage for engineering & capital goods, utilities, banking and cement was down due to the fall in the prices of the stocks held by the scheme.

Reliance Industries, Divis Labs and Grasim were the top stocks held by the scheme in June. Banking (9.65%), Oil & Gas (9.42%) and Telecom (7.89%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by Reliance Equity Fund).

The cash in hand increased from 29.25% to 32.11%. The equity exposure of the scheme has dropped from 70.75% to 66.29%. The total assets managed by the scheme were of Rs 2244.19 crore as on June 30, 2008.
 
Over the last one-year, Reliance Equity Fund has yielded -8.8% returns as against -6.10% yielded by its benchmark BSE 100 as on July 10, 2008.

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