SBI Magnum Tax Gain bets on oil, IT, Pharma

SBI Magnum Tax Gain increased its weightage to oil & gas, IT, pharma, utilities, banking, while sold engineering & capital goods, cements. (View - What is SBI Magnum Tax Gain Fund buying / selling?)

The scheme's cash in hand has decreased from 16.66% to 1.41%. The equity exposure of the scheme has increased from 83.21% to 87.18%. The total assets managed by the scheme were of Rs 2886.13 crore as on June 30, 2008. Meanwhile on account of the volatility in the markets, the scheme has made fresh investments in debt securities.

The analysis of the scheme's portfolio for the month of June 2008 shows that in the oil & gas sector, it purchased Indian Oil Corporation and Reliance Industries. In IT pack, it bought TCS, Infosys and sold KPIT Cummins.

In pharma space, it purchased Ranbaxy Lab and Dr Reddys Labs. It bought Reliance Power, Tata Power, CESC and 5 lakh shares of NTPC in utilities segment. In banking sector, it purchased ICICI Bank, HDFC Bank, HDFC, SBI and sold Sumeet Securities.

It purchased BHEL and sold Praj Industries in the engineering & capital goods segment. In cement & construction pack, It bought GMR Infra, ACC, IVRCL Infra, Ansal Properties and sold Mysore Cements.

Reliance, HDFC and Larsen were the top stocks held by the scheme in June. Banking (14.68%), Engineering (13%) and Metal (10.18%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by SBI Magnum Tax Gain Fund).

Over the last one-year, SBI Magnum Tax Gain Fund has yielded -13.7% returns as against -9.29 % yielded by its benchmark BSE 100 as on July 7, 2008.

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