SBI Magnum Global bets on pharma, oil, chemicals

SBI Magnum Global Fund augmented its weightage to pharma, oil & gas, chemical, while slashed its exposure to engineering & capital goods and cement & construction sectors. (View - What is SBI Magnum Global Fund buying / selling?)

The analysis of the scheme for May 2008 shows that in the pharma pack, it bought Lupin, but sold 2.45 lakh shares of Shasun Chemical. It sold Aban Offshore in the oil & gas pack. In chemical segment, it bought Tata Chemical. There was increase in the weightage of IT sector due to the rise in the prices of stocks held by the scheme.

In the engineering pack, it purchased BGR Energy, KEC International. However, it sold BEML, Punj Lloyd and Crompton Greaves. In cement & construction space, it bought IVRCL Infra and sold Hindustan Sanitaryware and Nagarjuna Construction.

Aban Offshore, Usha Martin and BEML were the top stocks held by the scheme in May. Engineering (17.17%), Cement (15.91%) and Metal (9.69%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by SBI Magnum Global Fund).

The cash in hand has increased from 7.95% to 8.21%. The equity exposure of the scheme has dropped from 92.05% to 91.79%. The total assets managed by the scheme were of Rs 1429.59 crore as on May 31, 2008.
 
Over the last one-year, SBI Magnum Global Fund has yielded -4.5% returns as against 9.82 % yielded by its benchmark BSE 100 as on June 16, 2008.

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