Reliance Equity Adv bets on IT, oil, tobacco

Reliance Equity Advantage Fund increased its coverage to metal. IT, oil & gas, tobacco. However, it reduced its exposure to telecom, auto, utilities and banking sectors. (View - What is Reliance Equity Advantage Fund buying / selling?)

The analysis of the scheme for the month of January 2009 shows that in the metal sector, it introduced SAIL, Sterlite Industries and bought Tata Steel. It purchased Wipro, TCS, but sold Infosys Technologies in the IT space.

In the oil & gas space, Reliance Industries, ONGC, BPCL, HPCL are bought, while Cairn India is sold. In the tobacco lot, it purchased ITC.

It bought Bharti Airtel, Idea Cellular in the telecom segment. However, it sold Reliance Communication. It exited Maruti Suzuki in the auto space.

In the utilities lot, it purchased Reliance Infrastructure and sold NTPC. In the banking & financial sector, it bought SBI, Oracle Financial, HDFC Bank, HDFC, but sold ICICI Bank.

Reliance, SBI and ONGC were the top stocks held by the scheme in January. Oil & Gas (19.47%), Banking (13.20%) and Technology (9.77%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by Reliance Equity Advantage Fund).

The equity exposure of the scheme has increased from 70.28% to 72.20%. The cash exposure has decreased from 20.67% to 12.34%. The total assets managed by the scheme were Rs 1260.96 crore as on January 31, 2009.
 
Over the last one year, Reliance Equity Advantage Fund has yielded a -41.5% returns as against a -44.61% yielded by its benchmark S&P CNX Nifty as on February 6, 2009.

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