HSBC Equity Fund has made fresh investments in the engineering and chemical sectors in December. The scheme introduced Triveni Engineering and AIA Engineering into its portfolio. Triveni Engineering was the scheme's top buy with over 45 lakh shares bought. It bought over 2 lakh shares of chemical stock IPCL. (See the complete list - What is HSBC Equity Fund buying/selling?)
It also increased its exposure to the banking, metal, and IT space. It made fresh investments in ICICI Bank, and Indiabulls with over 4 lakh and 3 lakh shares bought respectively. It added to its investments in OBC, Centurion Bank of Punjab, Jindal South West Holdings, Syndicate Bank and Videocon Industries. However, it exited Vijaya Bank, IDFC and Birla Global Finance, and pared exposure to Canara Bank, PNB, Bank of India, Union Bank of India, SBI and Allahabad Bank. (Also read - HSBC MF sells auto, oil, textile, sugar stocks)
In the metal pack, JSW Steel, Hindalco, Usha Martin and Mahindra Ugine were bought, while Tata Steel, Jindal Steel and Sterlite Industries were sold. IT stocks HCL Infosystems, Patni Computers and Hinduja TMT were bought, while HCL Technologies and MphasiS BFL were among the stocks sold.
The scheme exited power sector by completely off-loading Suzlon Energy, while it slashed exposure to the oil and gas, auto and pharma space. It exited Reliance Industries by selling over 5 lakh shares. It also dumped HOEC, and ONGC by selling over 1 lakh shares each, and sold HPCL.
It sold auto majors Tata Motors, Maruti and M&M, while exiting TVS Motors. In the pharma space, it exited Aurobindo Pharma, and sold Orchid Chemicals. However, it bought over 40,000 shares in Marksans Pharma.
HCL Infosystems, Jindal Steel and Amtek Auto are the top stocks held by the scheme in December. IT (25.7%), Metals (20.6%) and Banking (17.1%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by HSBC Equity Fund).
The equity exposure of the scheme has inched up from 97.5% to 97.2%. The total assets managed by the scheme stands at Rs 1284.4 crore as on December 31, 2005. (Check out - Which sectors are attracting Fund Managers?)
Over the last one year, HSBC Equity Fund has yielded 51.6% returns as against 44.2% yielded by its benchmark BSE 200 as on January 10, 2006.
