Reliance Equity Fund sells oil, engineering

Reliance Equity Fund has decreased its exposure to oil & gas, engineering, banking and cement. However, it increased its exposure to IT and pharma. (View - What is Reliance Equity Fund buying / selling?)

In the oil & gas pack, it sold ONGC and nearly 2 lakh shares of Reliance Industries. In the engineering space, it sold 15 lakh share of Punj Lloyd.

Reliance Industries, Divis Labs and Punj Lloyd were the top stocks held by the scheme in May. Banking (10.81%), Oil & Gas (9.14%) and Pharma (9.05%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by Reliance Equity Fund).

The equity exposure of the scheme has dropped from 76.34% to 70.75%. The cash exposure of the scheme has increased from 23.66% to 29.25%. The total assets managed by the scheme were of Rs 2612.37 crore as on May 30, 2008.
 
Over the last one-year, Reliance Equity Fund has yielded 6.8% returns as against 10.36% yielded by its benchmark BSE 100 as on June 12, 2008.