Franklin Templeton picks oil, banking; sells IT, chemical

Franklin Templeton Asset Management enhanced its investments in oil & gas, banking & financial services and real estate sectors. However, it 
pared its exposure to consumer non-durables, information technology and chemicals segments.

IndusInd Bank, Hindalco Industries and India Infoline were the top buys, while Mahindra Satyam, Tata Steel (CCPS) and Ashok Leyland were the top sells. (View - All Bulk Deals by Mutual Funds)

A study of Franklin Templeton Asset Management portfolio for the month of August 2009 showed that in the oil & gas space, it bought ONGC, BPCL, HPCL and introduced Aban Offshore. However, it sold Reliance Industries and Shiv Vani Oil.

In the banking & financial services sector, it introduced IndusInd Bank and purchased HDFC, India Infoline and SBI. But it exited Corporation Bank and sold HDFC Bank, Axis Bank and Bank Of India. (Check out - Which sectors are attracting Fund Managers?)

It bought DLF and introduced Anant Raj Industries in the real estate space.

The selling was seen in the consumer non-durables pack, where it sold Hindustan Unilever and Marico.

In the information technology segment it sold Mphasis, Financial Technologies, Wipro and exited Mahindra Satyam. But it bought Patni Computer Systems, Infosys Technologies and TCS.

The fund exited Coromandel Fertilisers and sold Asian Paints, Tata Chemicals and Deepak Fertilizers in the chemicals space.

Table of Stocks bought/ sold by Franklin Templeton Asset Management ...contd on Page 2

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